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Dave Ramsey’s Best Financial Advice for the Jewish Community | Kosher Money Episode 39
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- Опубликовано: 13 авг 2024
- Welcome to Kosher Money, a podcast that helps Orthodox Jews and people across the world make smart financial decisions and achieve their money goals. In this episode, we have a special guest: Dave Ramsey, the bestselling author and host of The Ramsey Show.
Dave is a personal finance expert who has helped millions of people get out of debt and build wealth. He is known for his practical, no-nonsense approach to money management, and the Kosher Money team wanted his takes on the unique nuances that Orthodox Jews face as it relates to money.
In this episode, we sat with Dave at Ramsey Solutions' new HQ in Franklin, TN to discuss biblical outlooks on money, his famous baby steps, the importance of aversion to debt, how financial stability impacts other core areas of life, financial education and children, charity, inflation, and SO much more!
TIME STAMPS
00:00 Intro
03:12 Kosher Money at Ramsey HQ
03:30 The Big Orthodox Jewish Question
05:07 Biblical Principles of Money
08:30 Leniencies in the Baby Steps?
10:32 The Dangers of Credit Cards
12:08 Home Buying and Peer Pressure
15:58 Money Impacting Entire Life
20:37 Infinity Land Services
22:10 Raising Independent Kids
26:00 Allowance for Children?
27:38 Approved Funding
32:12 The Power of Charity/Tithing
34:55 Advice If You Fell Into Debt
39:44 Successfully Finding Work-Life Balance
42:34 Dave Ramsey's Advice on Inflation
45:47 Colel Chabad in Israel
47:40 Something More Important Than College
52:39 Entrepreneurship vs. Employment
54:26 How to Get Started with All Things Ramsey
57:19 Dave's Encouraging Message for You
1:01:44 Outro
If you have questions/feedback to share on this weeks episode, please email koshermoney@livinglchaim.com
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► MENTIONED LINKS
• Rabbi Lapin's 'Thou Shall Prosper' Book: amzn.to/3v4vLNu
• Ramsey's Real Estate Webinar: • Is the Housing Market ...
• The Ramsey Show: / @theramseyshow
• 'Baby Steps Millionaire' Book: amzn.to/3W2TQjv
• 'Total Money Makeover' Book: www.amzn.to/3G...
• Financial Peace University: bit.ly/3YubKgN
• Find More Financial Guidance at LivingSmarterJ...
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#Money #TheRamseyWay #FinancialFreedom #FinancialEducation #KosherMoney
These guys are very serious and committed to educating people in general, irrespective of religious affiliation. They incorporate their faith in a respectful manner and NOT pushy and they put out amazing episodes. I have seen many of them and continue learning with each new show. I liked it when Dave said that Math doesn't care about your zip code.
No way! Jewish and Christian community coming together to talk money and life. So good.
My same thoughts EXACTLY this is INSANE!
Uh money is the only language everyone understands….
😮
Money is the antithesis of Christianity.
@@Kitiwake That would be "the love of money".
This was honestly one of the best podcast episodes I’ve seen in a while. The interviewers had great questions and were very well spoken and I love how they tied everything into god and the bible.
If you got Dave Ramey on, you guys made it big time. It doesn't get any better than Dave Ramsey when it comes to true financial transformation. Well done you guys!
Dave Ramsey coming to your show, just shows how much he must respect your choice of great guests so far.
Having Dave Ramsey on your show was a stroke of genius on your part.
DR plan has worked in my life. 2-3 year out of debt, 7 years paid off house and in 11.2 years we hit $1M net worth. Buying real estate and adding money to retirement accounts.
I'm very happy for you dear 😊😊and you're creating a great reputation for this channel and everyone,I will love to achieve this great goal you're enjoying now.
I love to see collaborations that brake stereotypes, bring positive contributions, teach and open mindsets :-)
This was awesome! Our Jewish brothers and our Christian brother talking about money!
Wow, l’ve listened to Dave Ramsey for years & l LOVE this interview gentlemen. I’m a Christian & l’ve learned so much wisdom from Jewish people who l have love for & Israel. Also, l LOVE LOVE LOVE what what Dave said, “when you’re in a hard time you think you’re there FOREVER”. I’ve been there. My home is paid off, car…etc Dave’s steps work l didn’t make more then 25k-45k. Sorry so much information here. Thank you gentlemen for this interview. Lots of GREAT QUESTIONS & l just subscribed! ❤️💕💓🙏🏽
“G-d is a whole lot more patient than we are.” Very true!
I love Kosher Money! I enjoy learning more about the financial world.
6:16 Ramsey starts quoting Koheles and I can immediately hear Zevy's voice booming throughout Shaarei Zion on Shabbos Chol Hamoed Sukkos
־חֵ֥לֶק לְשִׁבְעָ֖ה וְגַ֣ם לִשְׁמוֹנָ֑ה כִּ֚י לֹ֣א תֵדַ֔ע מַה־יִּֽהְיֶ֥ה רָעָ֖ה עַל־הָאָֽרֶץ:
👏👏👏 huge claps to you guys. Great episode. Mind blown when I saw the thumbnail for this video. Stopped everything and watched it start to finish.
Wow no way you guys got to interview Dave Ramsey already 🎉
Good Job 🫡 Dave is the 🐐
Awesome. I couldn't wait for this. I'm too a Ramsey fan since 2018. Great job! I would've loved to hear his advice on how to save/invest for paying for our children's weddings and bar mitzvahs and such because in our circles most parents pay for those.
Ok, I subscribed. Im not orthodox, I'm not even jewish. But........ wisdom is wisdom.
Nuggets of wisdom from Dave Ramsey taken from proverbs everybody needs wisdom from the Creator who knows the beginning from the end.
Thank You he kept me solvent and out of debt when Covid came! Amen thank you Financial peace university‼️😘😍🥰😁😁😁😁😁😁😁😁
NO WAY!!!!!
THIS IS AMAZING!!!!
Whoever made this happen is a legend
Love kosher money and all the rabi and enjoy listening to Dave Ramsey! Great video
Most children are not taught financial principles 💰. I would love you to talk about children given work to do in the Orthodox community where they might earn money, both boys and girls.
Your RUclips channel is so needed! ❤ 👍
Please let's have more of these! What a great collaboration and wisdom from financial gurus. 🙏🙏🙏
I can't believe you got Dave Ramsey!!! So exciting! Great episode
The Analogy of life being a snapshot or Film or your future is so so true.Do Not let a Huge Problem,Bad Descision or Mistake define the rest of your life.....*ie: im like this because X happened.Its just a moment in time that is soon history.
I just need a few thoughts to make them Life Rules.
You Guys are a wonderful service to people All over the world.
Im Australian 54 with a 6 year old Daughter and it fits me like a Glove.
THANKYOU FROM THE BOTTOM OF MY HEART.
I like how Dave compared credit cards to playing to snakes, since Chazal say how interest is like the bite of a snake.
Enjoyed this discussion. Clear there's mutual appreciation on each side of this discussion for the other.
Jew and Gentile in financial harmony, beautiful
The old has fallen away
Thank You for the content you put out!! From your channel I met Naftali Horowitz and My Life really changed after reading his book. You guys are amazing!
Congrats on landing such a interview!!! few crucial things i feel were left out was kollel/chinuch lifestyle, additionally, should've mentioned 6-10+ kids is fairly common among us and should be part of the equation. Lastly, while Dave is mostly replying with financial principals, he should be shown a mock Orthodox Budget (2k+ tuition, 3k+ rent/mortgage, 2k+ kosher food etc etc) and that might need more specific advice. THANKS FOR THE BEST KOSHER MONEY PODCAST EVER!!!!!!!!!!
Not a popular opinion amongst the frum world but perhaps the time has come to restructure the kollel system and to significantly minimize the number of those in it. Moreover, financial education and personal finance ought to be part of a Yeshiva/Bais Yaacov curriculum.
Showing a sample budget would have been very helpful.
I listen to Dave all the time but I must say you had Excellent questions and drew out useful info and insights. Thank you!
Those 2 gentlemen are very well spoken ! Dave is the 🐐
Shuuu! Being in the story cut really deep in my current situation! Thanks for reigniting HOPE!
Wow Christians and Jews coming together, it's a beautiful thing to see
Dave Ramsey the best!! 👍
Well done!! I have truly enjoyed your podcasts!!
Hi.Dave is a great sage on finance and his inspirational foundation of the Bible is Rock-strong. Thanks
Top tier gems being dropped on this episode
I don't think kosher community needs Dave Ramsey advice but glad to see 2 superpowers of saving investing $ decision making getting together.
What about podcast #7977. The call starts at 4:38 with him trying to say Chaya and ends with him hanging up because he just can't comprehend her housing, tuition, and grocery costs.
Where can I find that? Sounds interesting.
I am Christian and love Dave Ramsey but it would have more impressive to quote those verses in Hebrew as I am sure his guests could have done. Nonetheless, Dave Ramsey is a legend and a true Man of God.
Fantastic interview
Omg!!! This is so exciting I can’t wait to watch!!!
always great viewing things from a different perspective
Sila, Mthokozisi
WOW JUST WOW! THANK YOU FOR THIS UPLOAD!
Thank you very much for this type of great work . This content has no price .
Thank you so much..May God bless you
Great interview! I would like to know what kind of background conversations there were leading up to this interview. How well was Dave actually briefed on the ways of life of the frum community?
I feel that the "Kollel\Chinuch" Couple or Family is a significant enough element of the frum community, and there should have been some discussion about them but wasn't.
Additionally, it would have been nice for Zevy or Eli to describe the tremendous amount of chessed (kindness\giving) within the frum community and how it affects lower income families.
It's unlikely he was briefed a whole lot. He volunteered an hour of his time to sit and talk with these guys, He put forward his usual advice which has helped me a great deal, his opinions apply to homeschooling Jews and Christians alike and similar to those who send their children to religious schools of both faiths. Some Churches have a home-school/Christian school Christian ethos that would be very similar to the peer pressure of a Shul where everyone goes to the Yeshiva for their education. His argument is that there a material sacrifices that need to be assessed before buying property or cars. He may not comprehend the amount of children and the transportation costs needed for a vehicle that will pass inspection for school runs alone. He doesn't consider chessed that might subsidize someones righteous life as it isn't normal in Christian circles for poorer families due to studying the bible to get financial kindness from those around on a regular basis. Overall I think he did a good job of being sensitive to the Hebrew roots of Christianity and to not particularly evangelize the two guys.
Thanks!
Amazing interview thanks. I’ve been consuming lots of Dave’s content on RUclips lately
Thank you, amazing video
Wow! Great questions! Money wisdom follows priorities! And priorities are your choice! Dave helped me become debt free last year!
Best video ever!🎉❤❤🎉 love both communities
We need each other. Jews & Christians. ❤️💕💓
Great show. Suggestions: Living in a more affordable frum community, revise what a person calls necessity vs extras. Etc
You guys rock!
Thank You for this.👍
Thank you for sharing
One sorely missed financial aspect seldom spoken about is investing in our health! Even if you wind up with a lot of money, old age homes, hospitals and the "health" system will take it all. I would be more than happy to speak about healthy living!
Panning for Gold and Finding it.Going through Dave's messages,all are good....BUT there's the Few Absolute GOLD Messages that apply to the individual watching.
Better to watch more to be sure to find the Applicable Gold to your position.
It's a matter of just wait ,It's coming.
BEAUTIFUL GUYS
Amazing. Thanks for sharing. Very valuable interview 🙌🏾
This was a great interview, love Dave Ramsey!
FINALLY! thank you so much
Had to stop mid-wayish - Dave was beating around the bush
Hi. I wish there would have been some mention that an Orthodox Jewish person in Queens can move the family to a more affordable, up and coming city: For example - check out the Jewish Orthodox worlds in South Bend, Indiana - Cleveland, Ohio - Kansas City, MO - Detroit, Michigan - Springfield, NJ, and yes - Dallas, TX!!!
This is an excellent point and one I regret not sharing on the pod. Thank you! - Eli
It was mentioned sort of when he talked about math and zip codes
Hillside/Elizabeth in NJ are significantly cheaper in real estate than other communities in the New York City area. Hillside and Elizabeth are fortunate to have Bruriah High school (for girls) and The Jewish Educational Center (JEC) right in the neighborhood.
Thanks
Wow incredible! This is the first I’ve ever heard of him. Will definitely check out more of this. Great stuff.
Ken Adams here..Oh U Must!!
Regina where have you been. Dave has been at it for 30 years. Glad you are now on board.🥰🥰
@@blueskyloo 🤝 😉
This my first time listening to Dave Ramsey and he has a lot of wisdom,but in some case as he speaks his voice sounds like Warren Buffett.Good program.
That is the one thing that my Dad taught me is to never get in Credit Card Debt and pay all cards each month. I was once reckless with that but now I pay them off every month.
My college friend introduced me to credit cards. I got 2, she had 18. She was in big debt in school but I only bought books and concert tickets with mine. My family members never said we should “ get credit cards”. Buyer beware.
Unreal episode🔥🔥 Thank you!!
Loved this episode!!!
Great interview. Thanks!
Glad you enjoyed it!
I missed a couple episodes and I come back to find you are over 100K! Congratulations.
...okay...I'll sit back down and stay quiet and watch the movie.
Hit the Bell for notifications on RUclips!
Excellent discussion Thank you!
Seeing the comments about Jews and Christians coming together. Why were Jews and Christians enemies? I never get why today’s human beings must hold to traditions that either made no sense or weren’t questioned. God loves all.
Great synergy!
Greetings from Guadalajara Jalisco México
What a great segment!!
Love you guys! Golden advice!
I don’t really know either show but this is cool
I love how Dave didn’t buy in at all to our “uniquely orthodox Jewish problems”. He just called it an american problem of a community that lives beyond its means. What else were we expecting? Permission to go into debt? That’s what the Yeshivas and caterers will tell you to do, not Dave Ramsey!
Just saw this I am SO EXCITED!!!
Wow!!
Great interview ..
As an atheist, I love to see how humanity goes beyond beliefs and puts people together.
Wow can't believe this happened. Also knew Dave would be totally against the way the frum community lives.
Totally against is pretty rough. He wasn't saying convert to his type of Christianity. I think I get what you are saying in the financial context though
Wisdom is Wisdom, I'm not religious but l like this principles . It makes sense.
If you cannot finance for 15 years, do 30 but pay extra to the principal.every opportunity. Every extra dime go to the principal
Good episode
Good comment
This is amazing
People say Dave's way of living with money is impossible. Listen to the passion in his voice. Look at him. It's all attitude. If you don't have that attitude going in and believe in your God to push you through the bullshit, you can hang it up. You're right, you, and just you could never do something so brave. Instead of turning your back on the devil completely you want to mess with it and play with it as if it won't screw you in the end. Bravery is always smarter and more secure. But sure go ahead and build your house on the sand. Good luck. Change your attitude and at the very least if you don't have faith in God, have faith in your self, for the love of God. Money and spirituality go hand in hand. Even atheists experience this, but they deny it and that is okay.
Outstanding interview; thumbs up if you want to see Ben Mallah on the show!
Glad to see Dave on this show. But, what did folks do before credit cards were opened to the masses? They lived within their means. Let’s also wake up and plan our families. Okay we don’t need families of 6+ folks. No one is happy with “smaller families”. Therefore, financial planning will be more difficult. Period.
I’m surprised Dave hasn’t learned to recommend people to live out of town 🤪
13:38 If there is any community who knows anything about crock pots.....
Disappointed in Dave Not answering them when they said how expensive it is to live in Queens and you have to make 200K to 300K a year to make it, 1st of all who said you have to live in Queens? and no you do not need 200K to 300K a year only if you live a very expensive lifestyle witch they do... there is much waste to be cut.
Take a shot every time Dave ramsay says biblical.
🪦⚰️
Wow a crossover by 2 of my subs that give great advice
Too bad I'm still bad with money lol
@brilliantradience Just imagine Dave saying "You're a moron." with a look of deep disapproval when you are about to make a purchase. You'll decrease your spending for sure.
@@I_Lemaire yeah but gotta spend money to enjoy life
The fact that you are watching these videos means that you are on track and that you are serious about improving your life. Don't be discouraged. Rome wasn't built in a day. Small steps. Stay strong.
Insanity.
Congrats!
Maybe your company can do something similar with Money Guy - Brian Preston and Bo Hason.
I just finished watching the entire video and I'm disappointed that you guys didn't ask Dave a single question about having to pay yeshiva tuitions. Unless I missed it? If I did, please do tell.
It's part of the 7 steps. It shouldn't be any different than any other expense.