Honestly, both of their philosophies offer very good advice. In fact it is probably best if you listen to both of these excellent ways of thought. Dave Ramsey is the ultimate avoid debt at all costs type of guy. On the end, Robert Kiyosaki advises that minimal debt is ok, if it is “good debt”(assets). I believe that if you clear up all your debt then you won’t have too many problems, however what happens when you need to buy a house? Or should you just rent the rest of your life?

There are those that like to carry around cash all the time instead of using credit cards to try and make sure they have enough money for everything they need. But do you really want to carry around that much money these days? That is debit cards are so useful, because they pull money straight from your account. Doing this will make sure you only use the money you have available to you.

Thus complying with both these philosophies, Kiyosaki does not want you to go into consumer debt by going crazy over things that you don’t need. It is recommended instead that you spend wisely, making a list of what you need and what you don’t need. Good Debt is debt that allows you to grow your original money sources, thus paying off the debt and increasing your funds.

However, debt is risky; there is always the chance that you will not be able to pay it off. However, if you think about it this way: How often do you drive every day? Isn’t there a risk to driving, even pulling your car out onto the main road holds its risks. This is the same with debt. There are always some certain risks to having some debt.

Ramsey recommends that you stay out of debt completely, avoid it at all costs. Some mortgage debt is okay but it is preferred that you pay at least half the cost of your house off before you buy it. If you are already in a lot of debt then you won’t want to use Kiyosaki philosophy because it might be a bit difficult to pull out. However, Ramsey has helped many people to pull out of their debt. It you take the time, and write out a debt payment plan, getting out of debt is attainable.

I think that both philosophies are important, you can see it is sort of a two step process. At first, if you are trying to get out of substantial debt then you should use Ramsey. Pull yourself out of “bad debt” before you start figuring out “good debt”. Once you are ready to start making money off of investments and other great techniques then start using Kiyosaki. This will help you pull out of debt and will start helping you make long term investments and make money off of “good debt”.