The number one thing Americans waste our money on is our government. If we could truly choose how our money gets spent our country wouldn’t be in debt and our government (both parties) couldn’t be so insanely corrupt.
Yeah, how the well to do got wealthy at the turn of the century, early 1900's, was by paying almost no taxes. Even my parents in the 50's and 60's never got hit with taxes like people do today.. It isn't just the federal government. Now it's the local and state putting their hand into your pocket to take more. They all over spend!
@jeffw6692 🇨🇦 I agree. I went on a rant and then erased it. The internet has expanded us, and we see what is going on all over. Hence, the censorship the Canadian government is enforcing. They want us to shut the hell up.
@@billsquitieri7986before the income tax USA was serving just fine but when federal revenues come in which is a private bank then here comes income tax’s so yeah
not just that, wages keep going down... same job i got in early 00s for 18/hr, now barely pays 22, 25 in major cities. The f'en conserves and some dems thought is a good idea to outsource at the expense of the citizens and also import cheap labor. I came to realize US sold its self out to everyone in the name of quick profit. No one thinks long term here, just get rich quick schemes!
Yes We’re working towards getting out of that death spiral Less is more life style So sick of corrupted system And also getting less to insure which is another waste of money 401K is a cyclic waste IMO we already checked out of that for the most part They rig it all for us to lose I don’t want to play any more
@@jaunt3603 I didn't say I was broke. I am the sole income earner because I'd rather my wife take care of the home and young children, for which I greatly appreciate her. Whatever income level you're at, you likely feel the pinch of the inflation. We were putting away more before, now we pay the bills but have less leftover to save or invest. Figured I'd see what Ramsay says.
@@jaunt3603 I didn't say I was broke. I am the sole income earner because I'd rather my wife take care of the home and young children, for which I greatly appreciate her. Whatever income level you're at, you likely feel the pinch of the inflation. We were putting away more before, now we pay the bills but have less leftover to save or invest. Figured I'd see what Ramsay says.
No vacations, no restaurants, no gifts in 15 years.most I've paid for a vehicle is 5k. Still struggling to save during this present time. Use to put back over a grand a month, now lucky to hold 400. No health insurance, no wife or kids at 40yrs. I'm not starving but this economy is terrible.
Agree. I don't take vacations, don't eat out, no spending money on "self care" items such as spa items. No car payment. Make decent money but still not enough to fund a retirement in several years. I will have to keep working. We need to redesign pay and work in this country. And stop the creep towards oligarchy with our politicians.
The difficulties that have arisen in the current generation are heartbreaking. I wanted to know how to spend some money that I had. I utilised a portion of it for my e-commerce venture, however it failed. I'm considering my options for investing the remaining funds, but I'm not really sure which path to go.
I know how you feel. These days, it's a little challenging to navigate. You do not want to lose what remains. If you wish to follow the investment way, I could advise you to locate a financial advisor who can provide you with comprehensive guidance. Furthermore, you shouldn't give up just because your business failed.
Yes, exactly. It's merely a step further than the other failed enterprises I've tried. Don't give up. Additionally, if you do choose to engage with a financial advsor, it is ideal to choose someone who can work with you and knows your unique needs. I finally found one that I can stick with after learning this from experience. My assets alone now bring in six figures, and my enterprises bring in even more.
*Elizabeth Colleen Nurre* , a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
"But....we deserve a vacation" is what I heard for years when we were broke. I didn't budge and still hear it to this day what a mean guy I was and that we missed out.
In 1996 I took a high school senior trip to Mazatlan total of 15 Seniors all by ourselves and we realized right before takeoff more than half of the kids it was their first time on a airplane and it was without their parents lol. The 90s were a different time no way I would let my kid go to Mexico by themselves for a senior trip today
@@hotshotfx3502 from the Seattle area and the Sonics V Bulls NBA finals were playing it was great watching the games in Mexico on our senior trip, stayed at the El Cid Hotel so much fun I’m 47 now but I had fun when I was younger.
No credit card debt. We only eat out on birthdays. Paid cash for my truck. Haven't gone on vacation in 15 years. Paid off my house in 8 years instead of 25 or 30. Self employed and we live well off 40 G a year. Never lack for anything.
@@Jeff-yz3on Same. Tucker talks about living where you were born and your grandparents are buried and I can’t. I was forced out due to cost. Wealthy foreigners snapped up homes and hid their money in real estate in my home town that was once considered working class by the ocean. Now it’s all over priced million dollar homes.
@@kevins5268I have one that’s 15 years old. Frame is fine in the rust belt. Just coat it for an hour every 2-3 years and wash salt off once a month in the winter.
Ya got me beat. My caravan was 10 years old when I bought it 2010. Drove it 14 years. (It was worth a tenth of what I paid) Just got rid of it for a 7 year old grand caravan. Hope I can get at least as many miles. If I do, it'll probably be my last vehicle.
Sorry to tell you Gary, but if your not a native there, you'll be targeted as an outside invader. Should have stayed where the ammo is. I hope you carry a weapon- How many animal attacks are there per year in the US? estimate how many people are injured or killed each year by wildlife or stricken by a zoonotic disease. Over 47,000 people annually in the United States sought medical attention after being attacked or bitten by wildlife, and approximately 8 people died annually. Stay strapped out there and be safe.
@@11957gary you should be happy that most americans are scared to live outside of the usa. I am scared of going back to America. Malaysia is fantastic. Healthcare is better than the usa. Cities are safe. Lots of great cuisines. Movies cost 3 dollars with a reserved seat. Oh god. Americans live in crazy world.
Dave 100% right on. For working couples who are too tired to cook in the evening there is an invention that allows you to have great meals cheaply when you get home. Buy a crockpot and check out all the great dump and go meals you can have with good food for a fraction of the price of restaurants for both overnight for breakfast and while you are at work for dinner. A perfect Ramsey Solution.
Yep, worked FT with one hour one way commute for years plus farm animals to care for before and after work. Burned out two crock pots using one almost every day. Good eating for less...
God is good and we are extremely blessed. We take 2 awesome vacations per year , paid for , not financed. We eat out every Saturday and Sunday ,so I can rest from working / cooking and cleaning our home all week. And we save every month. I will say we have bought really good used cars when we need or want a new one for the last 12 years. And I just got myself something really really expensive and nice this month. But I’m 44 and have been living by Dave’s principles since I was about 27. Had to teach my husband. A LOT about money when we married, it was like reversing a sugar addiction … we had some big fights. But praise God , he has come a long way and we now work as a team on all matters.
My son is very well off so he pays for everything when I visit ( including last week he paid for $950 for 2 nights in a hotel where we went sightseeing ) all of our meals at expensive restaurants and everything else we did😁
Dave, my credit union, University of Kentucky Federal Credit Union, still offers a Christmas Club. I’m now retired but still move money into my CC account every WEEK so that come October, I can shop for Christmas gifts without any stress or guilt. (I live a moderately comfortable life today but sure wish I had known about you decades ago)!
nancysexton545yes they do. You can find much better interest at an online bank and have a do it yourself account that grows faster. You can even name it your Christmas club account to remind yourself that you choose not to spend it for something else.
The most influential and relevant interviews of our time. The substance that you get is far more informative than any other person asking questions. Rock on Tucker.
My first airplane trip was in 2000. I was 19 years old. Courtesy of the United States Navy. Growing up poor in rural Minnesota, you went to the Black Hills or Wisconsin Dells, if you were lucky.
The Dells. Yup that was a fancy vacation for us poor kids. Back then you could bring your own beer and food into the water park. And smoke 🚬 cigarettes by the wave pool.
There is no stress like coming home from a vacation that you couldn’t afford and looking at all the things you should’ve spent that money on. New window for the house, new tires on the vehicle the list goes on…. Never again….
Ecclesiastes 5:10-12 King James Version (KJV) "He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity."
Dave is talking about unnecessary expenses that you can cut in order to pay debt. The IRS never goes away. But what in the world do you pay to DMV except to renew license and registration once a year?
We have 8 kids. We rent my husband's family's condo in Pensacola that they've owned for 35 years. It used to be $100 a week to rent, now it is $400, we fit all 10 of us in this 2 bedroom condo every year for vacation, even though my husband is now a surgeon and we could afford much more, but in a 5 minute drive to the beach, there's free entertainment for at least 4 hours a day for the entire family. Hard to beat, even now, especially compared to how much vacations CAN cost.
Currently looking for a used work truck, the problem is there's no such thing as a good used truck anymore, can't get anything under 20k, and if you want not junk its 30k.
Been driving my $1100 1992 camry for 6 years now. Great car. You can still get a decent car for 2000. It wont be nice but it will be decent. 5000 will get you something more respectable though.
Finally got one under Trump at about 36 years old... Was too short 10 days after 18 years of working. Won't have another til we're ahead like that again
I think Dave needs up to date statistics. Today well past 70% of American workers are existing paycheck to paycheck. A huge percentage are working 2 or more jobs. And don't tell me that's because we just suck at money.
Sometimes we go to an Asian buffet that charges $14.99 per senior citizen. Majority of time we cook at home - just cheaper and healthier. We're still working and hope to retire at 65 years old. All our vacations are staycations - has been for the last 25 years. Both our cars are paid off except for insurance. We'll be running those cars into the ground before replacing them with another used car. We're doing alright but if prices keep going up we're going to have to work longer. We pray we have the health to keep working after 65. Vote early and vote Trump/Vance to help lower the inflation. The Demonrats don't care about the people - just look at how they're handling the hurricane - tells you all you need to know.
I start buying christmas presents in August and I will be done next month . Cash and carry with no debt after christmas . I own my house and cars . I have an old boat I restored. The restoration process being part of the entertainment . I was raised by children of the great depression . Frugal they would say .
@janelleg597 why bruh? lots of people don't even move more than 15 miles from where they grew up. why travel? Just so you can drink different water and poop in different toilets? lmao
Retired GM mechanic . I own 2001Jeep Cherokee ,99 chevy lumina. 86 w350 Never had a car payment. Will never spend more than 10 grand on a car. May never buy another.
We have a 30 year old Land Cruiser that run’s like a champ, and a 10 year old 4Runner that is perfect still, haven’t made payments on anything in 7 years, invested all those “payments” during that time, couldn’t be happier. People like the chase and high of buying a new car, they may regret it in most ways a few months later.
Most people I know live outside of their means…it’s so strange for me to watch. I don’t know how people can have no savings & many times debt…yet think they “deserve” to have a new car, go out to eat, etc…makes zero sense to me😂
Because they deserve everything!! They will tell you they do!! That’s why they don’t have savings and never have had them. They refuse to deny themselves
We have cut back on our spending. Love to cook so we are better off without eating out much. Our vacations are usually family related. I boycotted Disney awhile ago! Just got a two year old car after driving my minivan for 17 years and put 230k miles on it.
We barely have money to waste in the first place! I hope you two discuss the absurd costs of living for working people rather than the occasional dinner/movie night they treat themselves to.
You must first correct the waste. Us older folk sit back in the office and listen to the younger folk complain at the cost of living as they are working on their third expensive Starbuck coffee of the day and then getting lunch delivered to them at the office. The reason cost of living is so difficult for the younger folk is they waste their money.
@@DaleMeese So true . I own a small business and our service center is beside a greasy spoon (Good food). I have employees that will buy breakfast and dinner there and complain on payday . Meanwhile their boss (me) brown bags it every day . I drink coffee and make it myself . No drive through's . That is very basic . It doesn't pay to be lazy . Learning simple math goes a long way . Chasing the Jones's is a fools game . Status symbols are for Peacocks and Poodles . I have no debts , own a mortgage free home and drive a late model Taco . It takes time and effort when you start from nothing.
I think it's the daily and/or monthly expenses that are avoidable - Starbucks, streaming services that we don't need to have. A five dollar coffee at Starbucks daily comes out to almost $2000 a year. Ridiculous.
I currently choose NOT to have cable, internet, wifi, or credit cards. I do not patronize restaurants, yet I work in one. I do not purchase things I want, only necessities that I need. I make coffee at home. I'm perfectly fine!
Meal planing is the go to plan for success and then you can live like no-one else , love Dave Ramsey financial budget planning, ( we are debt free ) 🇨🇦
I'm pretty good at saving money but theres nothing wrong with driving a nice car and going out to eat once in awhile or going on vacation. Theres no point in putting your nose to the grind store if you don't occasionally allow yourself bathe in champagne.
...but the "champagne" will vary from person to person. For one person, it might be international travel. As a single mom, it was an overnight trip to a waterpark. Just being in a hotel was cool to my kids! Now that I am retired and they are through college and grown, I can afford more: more meals out with friends, more travel, a cruise, trading up my car a year or two earlier with fewer miles. The lean years are definitely paying off now.
I drive a 2001 Lexus RX300 with 234k miles and I paid $4k for it eight years ago when it had 150k miles. Starts every time, rides smooth, reliable , blows cold air and has tunes! I did have to buy a Gromm interface to connect my phone via Bluetooth, love my Pandora Yacht Rock station.... You can’t run the AC on high or it will freeze you out. When I want to have fun I take out my 1972 C10 pickup that has a 600 HP big block Chevy engine in it. It embarrasses hemis, mustangs and vettes.....I paid $5600 for it in 1998. I do like my tuna trips to Cabo on occasion and I do all the cooking in my house, but when I need a break we go out to eat, but look for specials or share a plate and order water with lemon.....
All that money you’ve saved on having super old cars all these decades and you can’t at least order your own separate plates on the rare occasion that you eat out ?? Sounds like you may still have a leak somewhere.
Dave is absolutely right about cars being a bad purchase to finance if you are strapped for finances, but average residual of a car at 4 years is 40-49% not 30%.
My next "vacation" will be in Mexico at a nice hotel on a beautiful beach Los Cabos for ten days, HOWEVER, I won't be doing most of the activities that the vacationers at that lovely resort will be doing.l I may be able to enjoy only a little bit of food upon arrival and perhaps the following day; I'm not even sure I'll be able to play tennis at all on their beautiful courts because...wait for it.......I'm doing what is called "dental TOURISM" (and will be in pain b/c I'll be recovering from dental surgery) in Los Cabos because THE RENT (AND the cost of dental work!!!!!) in the US is TOO DAMN HIGH!!! I guess I'll get to vacation in St. Tropez one of these years. Maybe I should play the Lotto. ..."Gotta play to win." Right?!
People are waking up to restaurants. Lots of restaurants shutting down. What's even dumber is people will pay $20 for their food to be delivered instead of spending 20 minutes picking up the food.
Perhaps @adlrilongstreet3112 does the same thing. We don't buy new, we buy reliable as well seldom under 100k miles, Toyota is the preferred brand, and pre 2010 the preferred age because I can wrench on them myself. Basis maintenance, and the typical wear items I can fix. Starters, alternators, water pumps, etc might take me a few hours to pull and replace, brake jobs are less time.
My parents were the greatest example of living within their means. As a kid I knew we hand more money than other families but I also knew my parents were extreme savers. My mom only paid cash for everything. My dad came home to a new couch one day, and asked where it came from. My mom proudly said, "I saved for it". we owe nothing. I hope to teach my children the same. We did not take big vacations, but did take 2 in my 18 years living at home. We followed a budget for school clothes. I always wanted a pair of "Guess" jeans but they didn't fit the budget. I remember for graduation my mom and I took a road trip. On our road trip my mom bought me a pair of "Guess" jeans. I wore those Guess jean to death. They meant the world to me at that time. It was like a right of passage at that time. Something I earned and something special she wanted to do for me. Patience is also a blessing. In high school the Guess jeans would just have been another pair of jeans. Times have changed and society put pressure on parents and kids with social media, we as parents need to stay strong and stick to the budget. Get on the same page with everyone in the family.
I've heard Dave's used car spiel before on his podcast. There's also something to be said for reliability though. I've had used cars break down many, many times in the past and there's a cost to that, financial and otherwise, viz., not making it into work, missing appointments, the headaches of having to get them towed, repair costs, etc. There's a peace of mind as well as an enhanced efficiency to life in having a (newer) car that causes you no problems. A reliable car isn't just a luxury but rather also a capital investment that can streamline your life and make it more profitable, happy and successful.
I agree 100%. And as a single woman, there are even more factors: Safety if I become stranded. My vulnerability due to lack of knowledge about car repairs - there are a LOT of shady mechanics out there, and how do I know who to trust? I don't need super fancy, but I am not a "drive it till the tires fall off" girl.
I buy new cars, but I drive them for at least 15 years. Currently a 2007 Ford F150 with 212,000 miles on it. I look at used cars and estimate their life at 250,000 miles then divide the calculate the cost per mile to drive it based on the remaining miles to the 250,000 mile bench mark and estimate how much the same new car would cost about 15 years in the future. The cost per mile driven has always favored the new car. Plus early on you get at least some factory warranty.
I have two clients. One has 110 investment properties. He is worth probably 100 million on paper and he drives, I think, at least a 10 year old Yaris that he assembled from two wrecked Yaris'. We have coffee sometimes. He will not pay for a refill, so he helps himself anyway. The other a timber baron from Oregon with two private jets. This guy is probably 6' 4" and he drives a Chevy Aveo clear across the country where he has investment properties to save money in the state I live. I am a vendor to both of these guys. The first guy is 82 years old. the other lumber baron is 77 years old. Both of these guys are beyond cheap. Cheap does not even begin to describe these guys. It is a sickness, a disease. The 82 year old dresses like a bum. You read storys about people like this. I know them. It is beyond frustrating dealing with them
@@thyslop1737worth millions and wont spend the money for a coffee refill? As if a cup of coffee every day is going to break the bank. Yeah f* those guys
Most people I know think it is normal to have car payments, house payments and go on vacation at least once a year. They eat out or have food delivered almost every day. That is just normal life for them.
I think most people are willing to sacrifice some money for memories with their family especially when you have kids and you want to go on vacation once a year even though you can't really afford it. You're making memories that will last forever and kids grow up so fast and your opportunity will be gone.
As long as the kids don’t have to live through the stress their parents exhibit when the bills come. I don’t like Christmas because my mom spent way too much throughout the year and there wasn’t really any money for presents but were bought anyway on top of what she spent on herself during the year.
Restaurants are pricey. And for a lot of people/rest of the world it has always been considered a luxury to even go on vacation or to vacation once a year. But at the same time you only live once.
Growing up- we didn’t take an airplane ride (trip) until I was 13 years old. We went to Florida to stay with my Aunt and Uncle for a week. Our “vacation” included going to the “free” beach several days, which we thought was absolutely awesome! Even though we were within driving distance to Disney World- our trip did not include going to Disney! But- we had the best time visiting and staying with our relatives and swimming in the ocean. 🥳
I miss when Walmart and Kmart (remember those) had lay-a-way programs. They were awesome. We used to get most everything for the kid's Christmas presents in September, and then make payments every payday until it was all paid off before Christmas. This kept us from charging on a credit card and we always had a "paid off" Christmas!
“The difference between a $6000 and a $16,000 car is hardly discernible”. Really Dave? Just shows how out of touch you are. I bought a 2015 Camry with 70k miles it was priced at $15,800 and I negotiated it down to $15,000. It was from Oregon so minimal rust. There was a 2013 Camry with 174k miles for $10,000 I passed up on with more rust and it was smoked in. I was looking at vehicles under $10,000 and a lot of them were Hyundai elantras. Volkswagen Jettas, Ford focus, Nissan Sentra, etc. All vehicles that probably wouldn’t last me a while.
He's a Boomer multimillionaire who has his own interests at heart. One has to respect what he's built but be circumspect concerning his advice. He does not and cannot understand the rapid changes in society he didn't have to deal with.
The teal issue is the long persistent inflation we have had since Bernake and Gietner started destroying this country. No one can afford to keep a cheap used car on the road today- Dave needs to understand this.
@@francestaylor9156 It’s crazy. Internet, cell phones, fuel, electricity, insurance, property taxes, auto maintenance, home maintenance, pets, clothes. It just all adds up.
I have full confidence that my child will grasp this lesson in due time. I remember being in the same position myself. The moment I witness her confidently depositing her funds into a designated account, I will know for sure that she has mastered it.
I wish Dave would tell these auto dealerships that four year old cars should be 70% off new. I don't see that reflected in prices at all. He sounds full of shit.
One of the good things about living almost an hour from most restaurants is that we eat out maybe twice a month, and usually combine it with trips to buy groceries. When we do eat out, our meals rarely cost more than $50, but we eat well anyway. I take a cooler chest and blue ice, and that lets us shop even before we eat out. Our vacations are in the Jeep, driving the countryside or going to a larger city for a day or on occasion maybe two. Are we poor? No, but we're not rich either. Not in the eyes of most Americans. Do we owe anybody money on time? Absolutely NOT. We own our house and our vehicles, or at least we own it in the sense the government wants us to think we do. Our two vehicles are 11 and 6 years old respectively, and as long as they don't cost for repairs all the time, we'll keep them. Living within your means takes discipline, but if you can do it, you'll always have money. Not millions, probably, but enough to keep your financial stress levels near zero because your bills will be paid on time and every time.
Definitely agree with all three. The only thing I can argue with you Dave is that $2000 cars don’t exist anymore. Can barely get something reliable for $10000
I bought a nice used one for 34k. It has been very useful and does most of the things 100k trucks do. We have all ready paid it off and it has a lifetime powertrain warranty.
If you do it right, eating at home can be healthier and cheaper, never buy a new car, and for a vacation take a road trip and visit places not too far away. Bonus: keep your credit cards as close to zero as is possible.
A $2000 car? Good luck finding one at that price that actually has an engine! My bro owns a car lot and laughed when I asked about buying a $5000 car. He said a decent used car starts at 10k.
We bought a 08 sonata 160k miles for 2k. Engine runs fine I change oil every 3000 miles. Got to look, they are out there. Buy private party and negotiate to your budget. Buy what you can afford
@@monikaw1369 though I agree that inflation was high then, saving an extra $1500 a year will do literally nothing for you now. The currency has been devalued too much and BRICS going live will make it worse. Reforms are all that can help. This current system never goes backwards, inflation only goes up slower. Commodity backed currencies are the future. This is all make believe. Live your life now because the transition will be tough.
I was a stay at home mom of six kids. My husband was a school teacher. Everything we ate was made from scratch. Taught my kids to cook, so they all cook at home now in their families. My kids still insist that I make Thanksgiving dinner because they love what I make. Cooking from scratch has helped them To save money, too.
I still do Christmas club but just take out in cash every check and put it in my safe till the next Christmas time. Takes the stress out of that time and only spend what I saved up.
I could easily pay cash for a pair of new Maybach S680's for my wife and I, but choose not to. I've been blessed to have had a dad who was an automotive master mechanic. He taught me how to repair anything with wheels. I only buy used cars and keep my money in the brokerage accounts, invested in good solid, high yield ETF's that are spinning off 10%+ annual dividends that pay monthly. No debt, no mortgage. I subscribe to about 90% of the advice that Dave gives. It's about looking at the big picture. If you're familiar with the Aesop fable of the "Ant and the Grasshopper", then that is the lifestyle path I've chosen to live. No worries.
I get a quarter of a beef as a work bonus, and I like to get a whole hog to add variety to our diet. My wife does some gardening for the vegetable part of our meals, and she is pretty good at changing up our dinners, and I do some of the cooking as well. We only buy cold cuts for lunch meat, hot dogs for fast dinner when we are busy, but I will get something "fancy" like Salmon fillets when they are on sale. The pork is custom cut, but still cheaper than retail. I pick the beef out on the hoof, and it's always good eating. Restaurants are a treat, usually for entertainment and not having to do any dishes. Cash for all of it. It tastes better that way.
One thing i can yell you .... People out in the country (those who do country things sunch as farming) don't spend money like this..... And we still dont have money. Lol
I'm 63 and driving the 4th car of my life since age 17. My 1st car was a year old when my mom got it for me, the others have been new, but I got a good deal on each of them.
The number one thing Americans waste our money on is our government.
If we could truly choose how our money gets spent our country wouldn’t be in debt and our government (both parties) couldn’t be so insanely corrupt.
This!
We can choose. Where you spend it matters. We need better options that are privately owned and operated.
Yeah, how the well to do got wealthy at the turn of the century, early 1900's, was by paying almost no taxes. Even my parents in the 50's and 60's never got hit with taxes like people do today.. It isn't just the federal government. Now it's the local and state putting their hand into your pocket to take more. They all over spend!
@jeffw6692 🇨🇦 I agree. I went on a rant and then erased it. The internet has expanded us, and we see what is going on all over. Hence, the censorship the Canadian government is enforcing. They want us to shut the hell up.
Yes!
Taxes is the #1 waste of Americans' money
@@pinschrunner and numbers 2 and 3 too!!!
How does government operate without tax dollars? Do you know what police power is?
@@billsquitieri7986before the income tax USA was serving just fine but when federal revenues come in which is a private bank then here comes income tax’s so yeah
If you dint have taxes, who would build the roads?
Agreed, however, taxes are meaningless because it's a cost you have little control over. I'd recommend Roth and HSA accounts.
1. Tax 2. Taxes 3. Getting taxed
not just that, wages keep going down... same job i got in early 00s for 18/hr, now barely pays 22, 25 in major cities. The f'en conserves and some dems thought is a good idea to outsource at the expense of the citizens and also import cheap labor. I came to realize US sold its self out to everyone in the name of quick profit. No one thinks long term here, just get rich quick schemes!
Yes We’re working towards getting out of that death spiral Less is more life style So sick of corrupted system
And also getting less to insure which is another waste of money
401K is a cyclic waste IMO we already checked out of that for the most part They rig it all for us to lose I don’t want to play any more
You forgot #4. Getting taxed. ✌️
@@louskunt9798 oh yeah the tax on tax
Yes, you are right, very weak of Dave Ramsey not to affress taxes. If you add up all of the taxes you pay both overt and hidden it is easily over 50%.
1. Restaurants, 2. Vacation, 3. Expensive cars. Okay, so nothing I'm actually spending on.
Why do you think you are broke?
@@jaunt3603 My wife
@@jaunt3603 I didn't say I was broke. I am the sole income earner because I'd rather my wife take care of the home and young children, for which I greatly appreciate her. Whatever income level you're at, you likely feel the pinch of the inflation. We were putting away more before, now we pay the bills but have less leftover to save or invest. Figured I'd see what Ramsay says.
@@jaunt3603 I didn't say I was broke. I am the sole income earner because I'd rather my wife take care of the home and young children, for which I greatly appreciate her. Whatever income level you're at, you likely feel the pinch of the inflation. We were putting away more before, now we pay the bills but have less leftover to save or invest. Figured I'd see what Ramsay says.
Yeah. His advice is 100% boomer.
No vacations, no restaurants, no gifts in 15 years.most I've paid for a vehicle is 5k. Still struggling to save during this present time. Use to put back over a grand a month, now lucky to hold 400. No health insurance, no wife or kids at 40yrs. I'm not starving but this economy is terrible.
Under trump i was doing the best i ever did in life. Now I'm doing ok but man I miss those trump years.
Ramsey's 'advice' is dog's vomit - always has been. Boomeriest of the boomers.
Agree. I don't take vacations, don't eat out, no spending money on "self care" items such as spa items. No car payment. Make decent money but still not enough to fund a retirement in several years. I will have to keep working. We need to redesign pay and work in this country. And stop the creep towards oligarchy with our politicians.
Sounds like you need a skill or trade.
OMG. What kind of job do you have? You need a different job asap.
The difficulties that have arisen in the current generation are heartbreaking. I wanted to know how to spend some money that I had. I utilised a portion of it for my e-commerce venture, however it failed. I'm considering my options for investing the remaining funds, but I'm not really sure which path to go.
I know how you feel. These days, it's a little challenging to navigate. You do not want to lose what remains. If you wish to follow the investment way, I could advise you to locate a financial advisor who can provide you with comprehensive guidance. Furthermore, you shouldn't give up just because your business failed.
Yes, exactly. It's merely a step further than the other failed enterprises I've tried. Don't give up. Additionally, if you do choose to engage with a financial advsor, it is ideal to choose someone who can work with you and knows your unique needs. I finally found one that I can stick with after learning this from experience. My assets alone now bring in six figures, and my enterprises bring in even more.
I appreciate the advise. Do you mean hedge funds when you say "financial advisor"? Furthermore, how can I contact one?
*Elizabeth Colleen Nurre* , a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you for the lead. I searched her site up and filled the form. I hope she gets back to me soon.
I was taught early in my life if something’s worth buying you save to own it and to pay cash; don’t pay on time because you may not have time.
debt is slavery
Eating at home is healthier and the food is cleaner.
He's right...we followed Dave Ramsey's baby steps. Best decision ever and we're debt free. Thanks Dave 🥳
No one in America is debt free.
35 trillion owed to the Federal Reserve. Who pays that? The TAX PAYER.
Same here. BS6
Taxes are largely interest payments for a loan. That's what taxation is, by en large.
I was taught if you can’t pay for it you can’t have it. So many people buy on credit these days and the debt can become unmanageable.
These are such simple principles everyone should be taught in High School.
There's a reason self sufficiency has been removed from schools. Make everyone dependent on the government.
They use to...
Or parents could set the example for their children. Be a good example or a bad example and maybe the children will learn.
School teaches useless facts these days
Yeah because there's no such thing as parents, right?
Live like no one else so you can live like no one else. Amen. Thanks for all the great advice over the years Dave!
"But....we deserve a vacation" is what I heard for years when we were broke. I didn't budge and still hear it to this day what a mean guy I was and that we missed out.
Weren't mean at all
In 1996 I took a high school senior trip to Mazatlan total of 15 Seniors all by ourselves and we realized right before takeoff more than half of the kids it was their first time on a airplane and it was without their parents lol. The 90s were a different time no way I would let my kid go to Mexico by themselves for a senior trip today
Funny to read this. In 1996 I too went to Mazatlan for our 96 high school graduation. Whole trip was $500 airfare and hotel.
@@hotshotfx3502 from the Seattle area and the Sonics V Bulls NBA finals were playing it was great watching the games in Mexico on our senior trip, stayed at the El Cid Hotel so much fun I’m 47 now but I had fun when I was younger.
No credit card debt. We only eat out on birthdays. Paid cash for my truck. Haven't gone on vacation in 15 years. Paid off my house in 8 years instead of 25 or 30. Self employed and we live well off 40 G a year. Never lack for anything.
It sounds like you live in a low cost state for real estate/homes.
@@Carma123 central Maine. Used to be cheap to live here. Now it's like everywhere else. including real estate.
@@sidneylittle5399 The average price for a house in the city I live in is $1,299,639. Is central Maine like that?
You lack a vacation?
@@Jeff-yz3on Same. Tucker talks about living where you were born and your grandparents are buried and I can’t. I was forced out due to cost. Wealthy foreigners snapped up homes and hid their money in real estate in my home town that was once considered working class by the ocean. Now it’s all over priced million dollar homes.
solid advice. But Americans don't buy cars they buy the payments
My 1994 Toyota 4wd pickup is worth 2x what I paid for it, 17yrs ago…it’s been my only vehicle for almost 2 decades😂
Nice you must live in the south. Those taco frames don't last in the north
@@kevins5268 lol funny. Yeah it’s hot/dry
@@kevins5268I have one that’s 15 years old. Frame is fine in the rust belt. Just coat it for an hour every 2-3 years and wash salt off once a month in the winter.
Ya got me beat. My caravan was 10 years old when I bought it 2010. Drove it 14 years. (It was worth a tenth of what I paid) Just got rid of it for a 7 year old grand caravan. Hope I can get at least as many miles. If I do, it'll probably be my last vehicle.
@@waynemiller6070 yeah that’s usually how it goes, I just happen to get lucky with this vehicle… Lol
I retired to the Philippines. I eat out everyday, the difference is, it cost me $1.49/ meal. Last one out of America turn out the lights.
Sorry to tell you Gary, but if your not a native there, you'll be targeted as an outside invader. Should have stayed where the ammo is. I hope you carry a weapon- How many animal attacks are there per year in the US?
estimate how many people are injured or killed each year by wildlife or stricken by a zoonotic disease. Over 47,000 people annually in the United States sought medical attention after being attacked or bitten by wildlife, and approximately 8 people died annually.
Stay strapped out there and be safe.
Healthcare? Protection? Freedom of religion? Owning property?
@@Mrsmetamorphosis2012😂 none of that exists in the US
@@11957gary you should be happy that most americans are scared to live outside of the usa. I am scared of going back to America. Malaysia is fantastic. Healthcare is better than the usa. Cities are safe. Lots of great cuisines. Movies cost 3 dollars with a reserved seat. Oh god. Americans live in crazy world.
Dysentery?
Dave 100% right on. For working couples who are too tired to cook in the evening there is an invention that allows you to have great meals cheaply when you get home. Buy a crockpot and check out all the great dump and go meals you can have with good food for a fraction of the price of restaurants for both overnight for breakfast and while you are at work for dinner. A perfect Ramsey Solution.
Yep, worked FT with one hour one way commute for years plus farm animals to care for before and after work. Burned out two crock pots using one almost every day. Good eating for less...
God is good and we are extremely blessed.
We take 2 awesome vacations per year , paid for , not financed. We eat out every Saturday and Sunday ,so I can rest from working / cooking and cleaning our home all week.
And we save every month.
I will say we have bought really good used cars when we need or want a new one for the last 12 years. And I just got myself something really really expensive and nice this month. But I’m 44 and have been living by Dave’s principles since I was about 27. Had to teach my husband. A LOT about money when we married, it was like reversing a sugar addiction … we had some big fights. But praise God , he has come a long way and we now work as a team on all matters.
Good job!!! It can still be done in this hour if people will deny themselves
Atmosphere at home is way more satiating than eating out! Hands Down ❤❤
Save more $$$ not eating out
We eat out too much, but we can afford it. Retired, relaxed and enjoying life.
definitely and better options for affordable wild caught salmon and grass fed beef for example. Grow a garden and enjoy life more too!
My son is very well off so he pays for everything when I visit ( including last week he paid for $950 for 2 nights in a hotel where we went sightseeing ) all of our meals at expensive restaurants and everything else we did😁
@@kathyharmon2093that nice but that's not saving money duhhhh
Dave, my credit union, University of Kentucky Federal Credit Union, still offers a Christmas Club. I’m now retired but still move money into my CC account every WEEK so that come October, I can shop for Christmas gifts without any stress or guilt. (I live a moderately comfortable life today but sure wish I had known about you decades ago)!
I remember growing up in the 60s my Christmas club was 50 cents a week! Thought I was rich come Christmas shopping season.
Do they give interest?
nancysexton545yes they do. You can find much better interest at an online bank and have a do it yourself account that grows faster. You can even name it your Christmas club account to remind yourself that you choose not to spend it for something else.
The most influential and relevant interviews of our time. The substance that you get is far more informative than any other person asking questions. Rock on Tucker.
My first airplane trip was in 2000. I was 19 years old. Courtesy of the United States Navy. Growing up poor in rural Minnesota, you went to the Black Hills or Wisconsin Dells, if you were lucky.
The Dells. Yup that was a fancy vacation for us poor kids. Back then you could bring your own beer and food into the water park. And smoke 🚬 cigarettes by the wave pool.
Don't knock the Wisconsin Dells. We had a lot of fun there in the 60's coming from Chicago. LOL!
So glad I listen to this . I just canceled a vacation that I cannot afford right now. Thank you Dave.
Way to go! Financial freedom beats any vacation out there!
There is no stress like coming home from a vacation that you couldn’t afford and looking at all the things you should’ve spent that money on. New window for the house, new tires on the vehicle the list goes on…. Never again….
Proverbs 22:7
King James Version
7 The rich ruleth over the poor, and the borrower is servant to the lender.
Ecclesiastes 5:10-12 King James Version (KJV)
"He that loveth silver shall not be satisfied with silver; nor he that loveth abundance with increase: this is also vanity."
For most of us it’s:
1) IRS 2) DMV 3) health care/insurance
agree
dmv? what do u pay per year to the dmv?
I think that Dave is referring to the three things that people waste money on, not the three highest expenses.
Dave is talking about unnecessary expenses that you can cut in order to pay debt. The IRS never goes away. But what in the world do you pay to DMV except to renew license and registration once a year?
Kentucky vehicle registration makes you want to buy used cars.
I love the saying, "Live like no one else, so you can live like no one else!" Good common sense.
We have 8 kids. We rent my husband's family's condo in Pensacola that they've owned for 35 years. It used to be $100 a week to rent, now it is $400, we fit all 10 of us in this 2 bedroom condo every year for vacation, even though my husband is now a surgeon and we could afford much more, but in a 5 minute drive to the beach, there's free entertainment for at least 4 hours a day for the entire family. Hard to beat, even now, especially compared to how much vacations CAN cost.
Currently looking for a used work truck, the problem is there's no such thing as a good used truck anymore, can't get anything under 20k, and if you want not junk its 30k.
$400 or $2000 cars??? Maybe in 1978 that worked but today it's not a functioning car or will be in the shop every week 🤣😂🤣😂
Even a decent 2008 car is $8k now even a 2000 is $4-5k
A decent car is about $10k minimum
@@blder56 yep
Been driving my $1100 1992 camry for 6 years now. Great car. You can still get a decent car for 2000. It wont be nice but it will be decent. 5000 will get you something more respectable though.
$2,000 for a used car? Seriously? Would you push it everywhere?
I bought a 2005 Jeep Grand Cherokee in 2016 for 3K and I’m still driving it today. It’s so nice not having a car payment!
Most people can’t afford vacations.
Finally got one under Trump at about 36 years old... Was too short 10 days after 18 years of working. Won't have another til we're ahead like that again
Vacations are a fast, fantastic way to flush your money
I think Dave needs up to date statistics. Today well past 70% of American workers are existing paycheck to paycheck. A huge percentage are working 2 or more jobs.
And don't tell me that's because we just suck at money.
@@exothermal.sprocketbutbyoubsuck at money
Our biggest expense is food for the family( eating and cooking at home). No car payments. No vacations - only local day hiking for the last 20 years.
I think if you work and can’t take a vacation for 20 years you didn’t save right
I have a nephew who bid $100,000 on a car at a Hershey, PA auction. Another person outbid him.
That's too stupid to understand
Love Dave. He changed my life.
Sometimes we go to an Asian buffet that charges $14.99 per senior citizen. Majority of time we cook at home - just cheaper and healthier. We're still working and hope to retire at 65 years old. All our vacations are staycations - has been for the last 25 years. Both our cars are paid off except for insurance. We'll be running those cars into the ground before replacing them with another used car. We're doing alright but if prices keep going up we're going to have to work longer. We pray we have the health to keep working after 65. Vote early and vote Trump/Vance to help lower the inflation. The Demonrats don't care about the people - just look at how they're handling the hurricane - tells you all you need to know.
I start buying christmas presents in August and I will be done next month . Cash and carry with no debt after christmas . I own my house and cars . I have an old boat I restored. The restoration process being part of the entertainment . I was raised by children of the great depression . Frugal they would say .
Going nowhere for decades on end is pretty sad but wutev
@janelleg597 why bruh? lots of people don't even move more than 15 miles from where they grew up. why travel? Just so you can drink different water and poop in different toilets? lmao
$2,000 car is a joke. $5-9k is more reasonable
It depends on how long you need it. $2000 could get you a Honda Fit
This was probably about 30 years ago when he did it. So with inflation it is probably closer to 5k by today’s standards.
Depends how broke you are.
Retired GM mechanic . I own 2001Jeep Cherokee ,99 chevy lumina. 86 w350 Never had a car payment. Will never spend more than 10 grand on a car. May never buy another.
Unless you're a mechanic like the guy above, you're gonna spend a ton of money on repairs for that cheap car. Especially the computer controlled ones.
We have a 30 year old Land Cruiser that run’s like a champ, and a 10 year old 4Runner that is perfect still, haven’t made payments on anything in 7 years, invested all those “payments” during that time, couldn’t be happier. People like the chase and high of buying a new car, they may
regret it in most ways a few months later.
👍 Toyota!
Yes! Buy the thing you only have to buy once every once and a while. My 99 4Runner was the best
Most people I know live outside of their means…it’s so strange for me to watch.
I don’t know how people can have no savings & many times debt…yet think they “deserve” to have a new car, go out to eat, etc…makes zero sense to me😂
Because they deserve everything!! They will tell you they do!! That’s why they don’t have savings and never have had them. They refuse to deny themselves
@ very true
Stop voting yes on bonds.
We have cut back on our spending. Love to cook so we are better off without eating out much. Our vacations are usually family related. I boycotted Disney awhile ago! Just got a two year old car after driving my minivan for 17 years and put 230k miles on it.
3 tickets just to get in Disneyland last weekend, $714
Insanity. Why people actually pay those prices is beyond me.
Boycott Disney
NEVER been and NEVER will 😂😅
That's a rip off!! Why go there?
@@dpoteat56👍🏼💯
We barely have money to waste in the first place! I hope you two discuss the absurd costs of living for working people rather than the occasional dinner/movie night they treat themselves to.
It’s not expensive only for the young tho. It’s for anyone who is a regular working class family or person.
@@Carma123 true
THIS!!!
You must first correct the waste. Us older folk sit back in the office and listen to the younger folk complain at the cost of living as they are working on their third expensive Starbuck coffee of the day and then getting lunch delivered to them at the office. The reason cost of living is so difficult for the younger folk is they waste their money.
@@DaleMeese So true . I own a small business and our service center is beside a greasy spoon (Good food). I have employees that will buy breakfast and dinner there and complain on payday . Meanwhile their boss (me) brown bags it every day . I drink coffee and make it myself . No drive through's . That is very basic . It doesn't pay to be lazy . Learning simple math goes a long way . Chasing the Jones's is a fools game . Status symbols are for Peacocks and Poodles . I have no debts , own a mortgage free home and drive a late model Taco . It takes time and effort when you start from nothing.
I think it's the daily and/or monthly expenses that are avoidable - Starbucks, streaming services that we don't need to have. A five dollar coffee at Starbucks daily comes out to almost $2000 a year. Ridiculous.
I currently choose NOT to have cable, internet, wifi, or credit cards. I do not patronize restaurants, yet I work in one. I do not purchase things I want, only necessities that I need. I make coffee at home. I'm perfectly fine!
Thank you guys for this video! Me and my wife watched this and realized alot
Unfortunately paying too much rent should be added to this list. You don’t get rent back, absolutely no reason to pay too much for it
Meal planing is the go to plan for success and then you can live like no-one else , love Dave Ramsey financial budget planning, ( we are debt free ) 🇨🇦
I'm pretty good at saving money but theres nothing wrong with driving a nice car and going out to eat once in awhile or going on vacation. Theres no point in putting your nose to the grind store if you don't occasionally allow yourself bathe in champagne.
...but the "champagne" will vary from person to person. For one person, it might be international travel. As a single mom, it was an overnight trip to a waterpark. Just being in a hotel was cool to my kids! Now that I am retired and they are through college and grown, I can afford more: more meals out with friends, more travel, a cruise, trading up my car a year or two earlier with fewer miles. The lean years are definitely paying off now.
I drive a 2001 Lexus RX300 with 234k miles and I paid $4k for it eight years ago when it had 150k miles. Starts every time, rides smooth, reliable , blows cold air and has tunes! I did have to buy a Gromm interface to connect my phone via Bluetooth, love my Pandora Yacht Rock station.... You can’t run the AC on high or it will freeze you out. When I want to have fun I take out my 1972 C10 pickup that has a 600 HP big block Chevy engine in it. It embarrasses hemis, mustangs and vettes.....I paid $5600 for it in 1998. I do like my tuna trips to Cabo on occasion and I do all the cooking in my house, but when I need a break we go out to eat, but look for specials or share a plate and order water with lemon.....
All that money you’ve saved on having super old cars all these decades and you can’t at least order your own separate plates on the rare occasion that you eat out ?? Sounds like you may still have a leak somewhere.
Sounds like fun! Especially the old truck! 👍👍
Dave is absolutely right about cars being a bad purchase to finance if you are strapped for finances, but average residual of a car at 4 years is 40-49% not 30%.
I would say TV/CABLE/INTERNET. $150 a month to be lied to.
Right?!
I bought a new 1973 Z-28 for $4,000 it's now worth $ 60,000 +. I bought a three year old 1976 Chey 4/4 pick-up for $ 4,500 it's now Worth $50,000.
What is this "vacation" they speak of?
My next "vacation" will be in Mexico at a nice hotel on a beautiful beach Los Cabos for ten days, HOWEVER, I won't be doing most of the activities that the vacationers at that lovely resort will be doing.l I may be able to enjoy only a little bit of food upon arrival and perhaps the following day; I'm not even sure I'll be able to play tennis at all on their beautiful courts because...wait for it.......I'm doing what is called "dental TOURISM" (and will be in pain b/c I'll be recovering from dental surgery) in Los Cabos because THE RENT (AND the cost of dental work!!!!!) in the US is TOO DAMN HIGH!!!
I guess I'll get to vacation in St. Tropez one of these years. Maybe I should play the Lotto. ..."Gotta play to win." Right?!
Christmas Club! I remember those. ❤ There were a good idea. Thanks to Tucker and Dave!
People are waking up to restaurants. Lots of restaurants shutting down. What's even dumber is people will pay $20 for their food to be delivered instead of spending 20 minutes picking up the food.
Great advice! My 1980 economic class teacher taught us these lessons
Who says Christmas is something you should blow your money on?
I love these two men for their principles.
We don't buy new cars. We buy reliable cars.
Keep telling yourself that lol
New isn’t the only reliable cars. I’ve bought most of my vehicles at 3-5 years old and they have been SUPER reliable.
Perhaps @adlrilongstreet3112 does the same thing. We don't buy new, we buy reliable as well seldom under 100k miles, Toyota is the preferred brand, and pre 2010 the preferred age because I can wrench on them myself. Basis maintenance, and the typical wear items I can fix. Starters, alternators, water pumps, etc might take me a few hours to pull and replace, brake jobs are less time.
My parents were the greatest example of living within their means. As a kid I knew we hand more money than other families but I also knew my parents were extreme savers. My mom only paid cash for everything. My dad came home to a new couch one day, and asked where it came from. My mom proudly said, "I saved for it". we owe nothing. I hope to teach my children the same. We did not take big vacations, but did take 2 in my 18 years living at home. We followed a budget for school clothes. I always wanted a pair of "Guess" jeans but they didn't fit the budget. I remember for graduation my mom and I took a road trip. On our road trip my mom bought me a pair of "Guess" jeans. I wore those Guess jean to death. They meant the world to me at that time. It was like a right of passage at that time. Something I earned and something special she wanted to do for me. Patience is also a blessing. In high school the Guess jeans would just have been another pair of jeans. Times have changed and society put pressure on parents and kids with social media, we as parents need to stay strong and stick to the budget. Get on the same page with everyone in the family.
Our local bank still has Christmas Club accounts! Love mine.
I've heard Dave's used car spiel before on his podcast. There's also something to be said for reliability though. I've had used cars break down many, many times in the past and there's a cost to that, financial and otherwise, viz., not making it into work, missing appointments, the headaches of having to get them towed, repair costs, etc. There's a peace of mind as well as an enhanced efficiency to life in having a (newer) car that causes you no problems. A reliable car isn't just a luxury but rather also a capital investment that can streamline your life and make it more profitable, happy and successful.
I agree 100%. And as a single woman, there are even more factors: Safety if I become stranded. My vulnerability due to lack of knowledge about car repairs - there are a LOT of shady mechanics out there, and how do I know who to trust? I don't need super fancy, but I am not a "drive it till the tires fall off" girl.
Minimalism is the answer
I buy new cars, but I drive them for at least 15 years. Currently a 2007 Ford F150 with 212,000 miles on it. I look at used cars and estimate their life at 250,000 miles then divide the calculate the cost per mile to drive it based on the remaining miles to the 250,000 mile bench mark and estimate how much the same new car would cost about 15 years in the future. The cost per mile driven has always favored the new car. Plus early on you get at least some factory warranty.
You are a smart person. I am still driving my 2005 f-150 ...purchased in 2005.
2k used car doesn’t exist and if it does it will not get you far. 10k car is the new hooptie
Buick lesabre
I did a guys taxes who drove a Toyota Camry and he made 1.5m a year.
I have two clients. One has 110 investment properties. He is worth probably 100 million on paper and he drives, I think, at least a 10 year old Yaris that he assembled from two wrecked Yaris'. We have coffee sometimes. He will not pay for a refill, so he helps himself anyway.
The other a timber baron from Oregon with two private jets. This guy is probably 6' 4" and he drives a Chevy Aveo clear across the country where he has investment properties to save money in the state I live. I am a vendor to both of these guys. The first guy is 82 years old. the other lumber baron is 77 years old.
Both of these guys are beyond cheap. Cheap does not even begin to describe these guys. It is a sickness, a disease. The 82 year old dresses like a bum. You read storys about people like this. I know them. It is beyond frustrating dealing with them
@@thyslop1737They made their own way, in their own way. Study them, because they are teachers that don't have many in their classes.
@@thyslop1737worth millions and wont spend the money for a coffee refill? As if a cup of coffee every day is going to break the bank. Yeah f* those guys
Most people I know think it is normal to have car payments, house payments and go on vacation at least once a year. They eat out or have food delivered almost every day. That is just normal life for them.
I have learned a lot from listening to Dave and paying attention to where my money is going! I'm almost at the retirement age!
I think most people are willing to sacrifice some money for memories with their family especially when you have kids and you want to go on vacation once a year even though you can't really afford it. You're making memories that will last forever and kids grow up so fast and your opportunity will be gone.
As long as the kids don’t have to live through the stress their parents exhibit when the bills come. I don’t like Christmas because my mom spent way too much throughout the year and there wasn’t really any money for presents but were bought anyway on top of what she spent on herself during the year.
@@monikaw1369 I totally agree with the Christmas thing and all holidays that boost prices because they know people will buy them. I get all that.
I’m 42 years old, and my parents had never flown my brother and I anywhere. I have no regrets of that either.
Unbelievable that we are at the state where it is considered excessive spending to go to a restaurant once a week and take a vacation once a year.
Restaurants are pricey. And for a lot of people/rest of the world it has always been considered a luxury to even go on vacation or to vacation once a year. But at the same time you only live once.
Growing up- we didn’t take an airplane ride (trip) until I was 13 years old. We went to Florida to stay with my Aunt and Uncle for a week. Our “vacation” included going to the “free” beach several days, which we thought was absolutely awesome! Even though we were within driving distance to Disney World- our trip did not include going to Disney! But- we had the best time visiting and staying with our relatives and swimming in the ocean. 🥳
The top 3 things are: #1 Food, #2 clothing, #3 Air
I miss when Walmart and Kmart (remember those) had lay-a-way programs. They were awesome. We used to get most everything for the kid's Christmas presents in September, and then make payments every payday until it was all paid off before Christmas. This kept us from charging on a credit card and we always had a "paid off" Christmas!
“The difference between a $6000 and a $16,000 car is hardly discernible”. Really Dave? Just shows how out of touch you are. I bought a 2015 Camry with 70k miles it was priced at $15,800 and I negotiated it down to $15,000. It was from Oregon so minimal rust. There was a 2013 Camry with 174k miles for $10,000 I passed up on with more rust and it was smoked in. I was looking at vehicles under $10,000 and a lot of them were Hyundai elantras. Volkswagen Jettas, Ford focus, Nissan Sentra, etc. All vehicles that probably wouldn’t last me a while.
He's a Boomer multimillionaire who has his own interests at heart. One has to respect what he's built but be circumspect concerning his advice. He does not and cannot understand the rapid changes in society he didn't have to deal with.
Dave changed my life! 🎉
Love Dave Ramsey’s story of the beater car 😂😂😂. Bondo beast!, with a vinyl top filling up with air! Hah.
The teal issue is the long persistent inflation we have had since Bernake and Gietner started destroying this country. No one can afford to keep a cheap used car on the road today- Dave needs to understand this.
There was negligible inflation between 1990 and 2020.
Family of 4, $10K/month net, only debt is house payment ($2000/month PITI) and still tight on money. This economy sucks!!!!
What?! So you spend $8k a month on stuff? That’s wild. Even in this economy.
@@francestaylor9156 It’s crazy. Internet, cell phones, fuel, electricity, insurance, property taxes, auto maintenance, home maintenance, pets, clothes. It just all adds up.
I have full confidence that my child will grasp this lesson in due time. I remember being in the same position myself. The moment I witness her confidently depositing her funds into a designated account, I will know for sure that she has mastered it.
I wish Dave would tell these auto dealerships that four year old cars should be 70% off new. I don't see that reflected in prices at all. He sounds full of shit.
All Americans are full of shit. What's your point?
It all boils down to a "pay yourself first" lifestyle. People think what Ramsey says is restrictive and painful, it's just the opposite.
One of the good things about living almost an hour from most restaurants is that we eat out maybe twice a month, and usually combine it with trips to buy groceries. When we do eat out, our meals rarely cost more than $50, but we eat well anyway. I take a cooler chest and blue ice, and that lets us shop even before we eat out. Our vacations are in the Jeep, driving the countryside or going to a larger city for a day or on occasion maybe two.
Are we poor? No, but we're not rich either. Not in the eyes of most Americans. Do we owe anybody money on time? Absolutely NOT. We own our house and our vehicles, or at least we own it in the sense the government wants us to think we do. Our two vehicles are 11 and 6 years old respectively, and as long as they don't cost for repairs all the time, we'll keep them.
Living within your means takes discipline, but if you can do it, you'll always have money. Not millions, probably, but enough to keep your financial stress levels near zero because your bills will be paid on time and every time.
Love my 2003 Subaru Forester. Im the 2nd owner...and it has 92,000.
A few small dings, but I take care of her and she takes care of me.
The number one is Taxes.
Two is permits.
Three is licences.
INSURANCE!
Inflation
Definitely agree with all three. The only thing I can argue with you Dave is that $2000 cars don’t exist anymore. Can barely get something reliable for $10000
How about those $100k trucks men buy.
Exactly, insanity.
Makes one wonder about the size of their "boots".
I bought a nice used one for 34k. It has been very useful and does most of the things 100k trucks do. We have all ready paid it off and it has a lifetime powertrain warranty.
If you do it right, eating at home can be healthier and cheaper, never buy a new car, and for a vacation take a road trip and visit places not too far away. Bonus: keep your credit cards as close to zero as is possible.
A $2000 car? Good luck finding one at that price that actually has an engine! My bro owns a car lot and laughed when I asked about buying a $5000 car. He said a decent used car starts at 10k.
He said he bought a $2000 car when he went broke.
We bought a 08 sonata 160k miles for 2k. Engine runs fine I change oil every 3000 miles. Got to look, they are out there. Buy private party and negotiate to your budget. Buy what you can afford
Great interview! Love Dave!
This guys advice is for the 90’s. Inflation has made these tips useless. Sit around and bored if you want I guess. It won’t make you a millionaire.
When he started, there was inflation! Back in the 80s, many unemployed and tons of foreclosures. It was awful!
@@monikaw1369 though I agree that inflation was high then, saving an extra $1500 a year will do literally nothing for you now. The currency has been devalued too much and BRICS going live will make it worse. Reforms are all that can help. This current system never goes backwards, inflation only goes up slower. Commodity backed currencies are the future. This is all make believe. Live your life now because the transition will be tough.
I was a stay at home mom of six kids. My husband was a school teacher. Everything we ate was made from scratch. Taught my kids to cook, so they all cook at home now in their families.
My kids still insist that I make Thanksgiving dinner because they love what I make. Cooking from
scratch has helped them
To save money, too.
Most young women now don’t know how or have time
I still do Christmas club but just take out in cash every check and put it in my safe till the next Christmas time. Takes the stress out of that time and only spend what I saved up.
I could easily pay cash for a pair of new Maybach S680's for my wife and I, but choose not to. I've been blessed to have had a dad who was an automotive master mechanic. He taught me how to repair anything with wheels. I only buy used cars and keep my money in the brokerage accounts, invested in good solid, high yield ETF's that are spinning off 10%+ annual dividends that pay monthly. No debt, no mortgage. I subscribe to about 90% of the advice that Dave gives. It's about looking at the big picture.
If you're familiar with the Aesop fable of the "Ant and the Grasshopper", then that is the lifestyle path I've chosen to live. No worries.
The German version is: eat vegan, don't heat and take cold showers.
I get a quarter of a beef as a work bonus, and I like to get a whole hog to add variety to our diet. My wife does some gardening for the vegetable part of our meals, and she is pretty good at changing up our dinners, and I do some of the cooking as well. We only buy cold cuts for lunch meat, hot dogs for fast dinner when we are busy, but I will get something "fancy" like Salmon fillets when they are on sale. The pork is custom cut, but still cheaper than retail. I pick the beef out on the hoof, and it's always good eating. Restaurants are a treat, usually for entertainment and not having to do any dishes. Cash for all of it. It tastes better that way.
One thing i can yell you .... People out in the country (those who do country things sunch as farming) don't spend money like this..... And we still dont have money. Lol
I'm 63 and driving the 4th car of my life since age 17. My 1st car was a year old when my mom got it for me, the others have been new, but I got a good deal on each of them.