Financial adviser Ramsey speaks hope in times of economic woe

By Traci Storti-Wilde
Special to the Pioneer Times
    Recession? What recession?
    Those words may seem like salt on a wound for anyone who has recently lost a job, but the intention is quite the opposite: to restore hope by endowing individuals with control and, hence, dignity.
    The Hodgdon Baptist Church became one of numerable site locations as national talk show host and reputed financial adviser Dave Ramsey transmitted “Town Hall for Hope” just recently. Like Ramsey’s other programs, the event was a Christian-based message of self-reliance and, as the title indicates, of hope.
    Ramsey originally developed the idea for “Town Hall for Hope” when he found himself one of the few voices claiming that despite financial hard times, financial Armageddon was not imminent.
    Event planners originally sought 500 locations, but ended up with over 6,000 locations serving over one million participants. Host David Asman of the Fox Business Network fed Ramsey questions from e-mail, text, Twitter, Facebook and YouTube.
    Ramsey argues that part of the recent financial crisis is self-fulfilling prophecy: people are afraid and are not actively participating as consumers in a capitalist economy. While debt is a Ramsey-an no-no, spending is an essential part of future U.S. financial stability.
    Audience members were given three key pieces of financial and spiritual advice. People must do something and refrain from negative talk, and continue to give of themselves financially and physically. Action physiologically creates a sense of wellbeing — and often creates income if navigated and negotiated correctly; ridding oneself of negativity produces similar results. In times of financial uncertainty, however, giving seems like the most radical proposal.
    Ramsey reminded attendees that giving doesn’t always mean money. Giving of oneself brings physical, psychological and spiritual rewards. He stressed that now is the time to seek hope instead of fear.
    Many of the people in attendance would agree that Ramsey’s program is timely. Spectators Kevin and Marie Carmichael have been longtime Ramsey fans. “It was refreshing to hear a positive point of view,” said the Carmichaels of “Town Hall for Hope.” “Dave reinforced that things are not as bad as the news leads us to believe. We hope there will be more gatherings like this one.” They added a Dave-ism, saying that it’s time that “people will begin living like no one else!”
    Ramsey grounds himself in his own history: he is a self-made millionaire — two times over. Ramsey originally made his first million dollars in real estate and lost it to overextended credit.
    Despite his popularity, Ramsey draws his share of naysayers. Critics declaim flaws in Ramsey’s mathematics: Ramsey encourages listeners to pay down debt smallest to largest regardless of interest rate. Ramsey’s theory is based on observed human psychology: people continue behavior modification when they feel successful. By “snowballing” debt, people build on each small triumph on their journey to get out of debt.
    Hodgdon was not the only venue for this event. The Presque Isle Wesleyan Church and UMPI also hosted the event.
    Several sites plan to re-air the program. Individuals seeking more information may go to daveramsey.com or hulu.com.
    Pastor Mark Lunn announced that the Hodgdon Baptist Church is also planning to offer Ramsey’s signature course, Financial Peace University, in the upcoming months.
    Due to the overwhelming response, Ramsey intends to simulcast his “My Total Money Makeover” event on Saturday, September 19 from his Georgia location. Information to host the event is also available on his Web site.