The Top Three Things You’re Probably Wasting Money On
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- Опубликовано: 10 фев 2025
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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.
New year, new changes. I just cancelled my card on Amazon, cancelled cable TV, Netflix and Paramount and we're starting to eat at home much more. Most of our money goes to the above. Now I need to pay off my 12,000 car, put money into an emergency fund and pay down $260,000 we owe on our home. It's a start and can only get better. Like my mom said, when there's a will there's a way. Thanks Dave. Your videos are so helpful to so many.
Our $ is similar, wish you luck ❤
❤❤❤❤
Awesome. I'm doing the same. I find I'm do excited about the process, and the challenge of figuring out ways to save everywhere.
I had to look at your name to make sure it wasn’t a comment I already made lol. I am in a similar situation. Follow the Ramsey plan I ripped up my credit cards and paid them off a year ago. The only debt I have is 12,000 car and 296,000 home. Once the car payment is gone I plan to save for the 3 to 6 months emergency fund, then the rest on the house. My goal is to pay off the house in 7 years. The 30 year mortgage is supposed to end in 2050. I want to pay it off 18 years faster than that
I BOUGHT A 1994 LINCOLN TOWN CAR 12 YEARS AGO, FOR $1,000, AND STILL HAVE IT AND IT RUNS GREAT!!!!!
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.
@@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.
@@my_channel_44 How Millennials and Gen_Z are wasting money:
1. Males dropping money to girls on Only Fans (yes girls they will never meet) OR Females dropping money on beauty products (to catfish the Chads)
2. Signing up for school loans which reach eventually reach high 5 figures of debt
3. Fancy new technology... they just need the most current iPhone or Android to feel important
4. Unnecessary online shopping, socializing and fast food restaurants
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….
You inspire me! Way to go!
My idea of a vacation is day trip out of town, your only out a tank of gas.
@@PremiumFuelOnly Same here! Head out early in the morning….explore for 5-6 hours….head home. It’s a great change of scenery and affordable.
I know people have their opinions of Dave and his plan but I wish more people would listen to what he’s saying and go for it. This man and his plan changed my life. I’ll forever be grateful
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.
I wasn’t taught that but I learned that from those around me. I’m in my mid 30’s and I’ve never had a credit card. If I can’t pay for it was cash 💰 I don’t need it.
I learned from video games weirdly enough. In a game if you didn't have the money you couldn't buy the item you needed
@@chanelle7484 That's good, but credit cards can give you some great cash back benefits, from 1.5% to 5%, as long as you manage spending and pay them off on auto pay each month. And one day, you may want to rent a car or book a hotel room, and you will NEED a credit card!
This is 100% true
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
@@GuitarsAndSynthsThen I guess you are a slave to your materials
Except when debt is cheaper than inflation.
i get laughed at. i pay cash for every thing i purchase in person. shops now prefer cc. they don’t have to make deposits. i have cash talberts told me they didn’t have change. item was 94.30. gave them 100. i said then put it back. i don’t need it. they ended up coming up w change. said they don’t like cash because they now have to go to the bank. isn’t that part of business.
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?
Eating at home is healthier and the food is cleaner.
Restaurants don't do vegetables
And all restaurant food has weird stuff added to it
It is like 80% cheaper, and it is cooked exactly like you like it, and no one dropped it on the floor before serving it to you, spit free...
How is that true?
If you buying from a store then NO it's not healthier, cleaner, or cheaper.
@ it is after a rinse it excessively.
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
He's right...we followed Dave Ramsey's baby steps. Best decision ever and we're debt free. Thanks Dave 🥳
Same here. BS6
We did Dave’s Baby Steps in 2017. We’re now saving/investing about 40% of our income.
I paid cash for a 4 year old RAV4. Saved about 60% on the new price. Runs like a champ. Planning to keep it until it’s 20 years old. Rinse and repeat.
@@mikeyis009 Wow that's great 🥳 We paid off our house too.
Our church sponsored Financial Peace a few years ago, and we learned a lot. This June, we will be debt free. Thank you, Dave.
@ Congrats
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.
You guys lived in the golden age lol 😢
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.
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
❤❤❤
@@Jdawn92so fun to learn, though! And so many ways to learn today-at our fingertips!
Same here…
So glad I found Dave 5 years ago. I'm in the UK, not religious but try to follow the principle. I've gone from zero to £41k in 6 years and I've had more disposable income than ever. And I actually earn £29k which is way lower than national average.
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!
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.
I have a Christmas Club! Automatic $300 a month deposits. Come October, I’m sitting pretty for holiday spending! 😊🎄
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.
Live like no one else so you can live like no one else. Amen. Thanks for all the great advice over the years Dave!
I love these two men for their principles.
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.
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.
@@RUclipsCensorsMe 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.
“You don’t do entertainment when you’re broke.” Everyone’s broke because of taxes and inflation. Why don’t we fix that.
Partially true, but it's still no excuse to splurge. Some people spend money simply because they have money.
THANK YOU TUCKER FOR THIS INTERVIEW!!!!!
I had completely forgotten about the Christmas club account. My mother did that every year. Plus on the car thing, my current car is 2005. I bought it new. I knowingly splurged at the time and said I am going to keep this car for as long as possible. I bought a 2005 Pontiac Vibe. It now has 185,000 miles, runs great. Lots of people really need to stop thinking they need to change cars every 2 years!
I was just thinking of getting a used one. Funny you brought it up.
I have a 2024 Honda Civic, and I'll keep it 15 years (paid off in 3). The two-year upfront warrantee pays for oil changes, alignments, checkups for 2 years free. I think when you keep it i's a better deal. We had our 2000 Honda Odyssey for 18 years until the Trans went.
I have a Christmas Club account...it cashes in November and starts again in December
I love to see the two of you connecting. Dave Ramsay! I bow to you!
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.
Saving money is good but IMO, it's better to spend the banks money than it is my own. Use credit cards on everything, collect the rewards, and always have the money saved to pay off your last statements balance, don't pay interest. Same goes for debit cards, don't use them.
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.
No offense, but no vacations for 20 years sounds miserable. I’m not even big on traveling often but living a little on some vacations is worth it IMO.
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.
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.
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!
Or Duluth/ North shore
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.
I’m 42 years old, and my parents had never flown my brother and I anywhere. I have no regrets of that either.
My local bank (Richwood Bank) has a Christmas club. I contribute all year and at the end of October they transfer what I’ve saved to my account. I love buying for my family with no stress or “Christmas hangover “… I am able to save as much as I want dependent on how much I can spare each week. This year I had over $2k to spend on my family GUILT-FREE!!
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...
The number one thing we waste our money on is the taxes that go to other countries for wars we don’t need to be involved in
That’s why we voted for Trump! MAGA!
WE GREW UP IN A MIDDLE-CLASS FAMILY WITH A WORKING DAD AND STAY-AT-HOME MOM.
OTHER THAN TUITION TO A CATHOLIC GRADE SCHOOL, WE LIVED A FRUGAL LIFE. VACATIONS WERE FREE, WE NEVER ATE OUT, WE HAD ONE CAR AND SEVEN OF US LIVED WELL IN A 1,400 SQ FT HOUSE THAT MY PARENTS BOUGHT IN 1939 FOR 7.5K AND PAID OFF THE 5K LOAN IN 1947.
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.
We love staying in condos on the gulf coast. We don’t rent from family so it’s $2-3,000/ week. Still a great deal.
@kristinwannemuehler9757 8 kids? Good lord that's alot lol. How many kids did it take for you and your hubby to figure what was causing it?
Me and my fiance want one MAYBE two.
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.
Yeah. The small stuff adds up. I smart shop for groceries all the time. Not a lot of new clothes just the necessities. Not a lot of eating out. But when I do, I don't worry too much because I save it other ways. Vacations are small adventures. Not huge getaways. Fun time with family is what it's all about anyway.
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
I'm thinking that's not an everyday beater.
solid advice. But Americans don't buy cars they buy the payments
I did a spreadsheet 30 years ago => buy new with lease (every 3 years) versus buy 3 year old used with cash (keep for 12) - the difference in overall cost was over $100k
@@bradfordbrucker I used to sell cars.
I love to go out to eat. But lately it just seems like whether it’s fast food or a supposedly good restaurant. The prices are ridiculous and the food quality is crap. I don’t mind paying good money for good food, but not finding much of it anymore.
Love everything you two espouse.
Dave R and his teachings led us to pay off $100k in stupid debt plus $400k in mortgage debt. WERE DEBT FREE and able to give more in our retirement.
❤🎉🙏🙏🙏🤩
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!
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
a 15-20 year old japanese car is affordable to anyone who has 5 grand. That is less than the cost of vacation for the average american.
I currently own a 2004 toyota sienna, bought it in 2020. Paid $2000 and today it is still running with 211k miles. Best money I ever spent. And even better, older cars do not depreciate in value as much. I had a guy offering me those same 2 grand for my car last year. Currently looking to upgrade to a 2009 subaru lagacy, and will be spending less than 4 grand on that. Never bought a car for anything but cash, and probably never will.
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.
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
"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
You can also do a cheap drive to vacation instead of Europe or Disney World.
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
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
Lucky you! My husband won’t listen 😟
That is a long time to follow the advice. Much success. By the way, what do you think about ebooks for those who can not get to a library? Worth the cost?
@@bossmom522 🫤
I’m sorry- just keep teaching what you know and maybe one day he will come around. For ppl who don’t like discipline , and structure or having to “ wait” for things they want, budgeting is a pulling of teeth moment for them. Be patient and like I said keep teaching him and he may surprise you one day 🙏🏻
Good luck 🌸
@@HelenSinger good morning ☀️
I think reading has many benefits for us and that if ebooks are something you enjoy, it’s an investment in yourself.
I also have used websites like thriftbooks to purchase books that are in pristine condition for just a few bucks. 🤩
Merry Christmas 🎄
Dave is so on point!
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I know I’ll make profits.
You are right. The best approach I feel is to diversify investments by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
@@PatrickLloyd- Who is this person guiding you and how can i reach he/she?
Finding financial advisors like Sophie Lynn Carrabus who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
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?
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.
Husband and I are debt free after getting into Ramsey, we even visited the show last year (we were still in debt then) and plan to go back eventually when we can afford it hahaha and do our debt free yell
Love Dave Ramsey’s story of the beater car 😂😂😂. Bondo beast!, with a vinyl top filling up with air! Hah.
My brother's car was a "Bondo Buggy" like that. He learned a lot of mechanical skills, fixing that "57".
I am a union Ironworker and I have paid for my last 3 vehicles with cash, 2 of them new.
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!
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! 👍👍
Stop voting yes on bonds.
Being good at defense is important, but there should be more talk on how to grow your income as well. Managing both well offense (earning more) and defense (no debt and no excessive spending) is important,but they go hand in hand at all times.
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
Depends where you live. We can buy cars for less than $2000 here in Idaho
$2000 its more of a FB Marketplace beater deal. Not a used car lot. If it runs, drives, steers, stops, and has a heater in the winter, then you're golden. Especially if you're over the moon in debt or are trying to save money for a new house or a much nicer car.
If you buy too cheap a car, you end up putting money in it to keep it running.
@gnws6 you will not find ANY car for $2000 at a used car lot
You don't keep it too long. BUT, it is worth it. Do the math. $2K car kept for 1 year is less than $200 a month. Change the oil more often than recommended, say $36 every two months. You've still just spent about one car payment of a new car, even if you junk the car after a year - or when the transmission goes, or any big ticket item. Never put real money into a beater, just call one of those "we buy your car" places, and then put your next $2 into another - newer or not, and go again.
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.
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
sounds boring and lame
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%.
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.
@@RUclipsCensorsMe 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.
Thank you guys for this video! Me and my wife watched this and realized alot
I love the saying, "Live like no one else, so you can live like no one else!" Good common sense.
I commute to work in a 99 accord. Been doing it for almost 20 years. But I also have other old cars as backups. My wife and kids drive around in a 06 tahoe. The problem is the manufacturers are working hard to stop the used market. They are obsoleting dealer only parts after 6 or so years. And locking down 3rd party parts so that they can’t resale.
He’s not saying don’t do fun things he’s saying be smart about your finances before you do fun things
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 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.
He is right about the cars... I have bought several 2 year lease returns over the years. I bought cars with 30,000 miles or less and they were $20,000+ or more less than the MSRP. Drove them for 5 years and did it again. You can deal on them as well, you don't have to pay what they are asking. Some cars its easy, others its harder, like some cars are just more expensive or their are less of them on the market.
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
My career was in sales; I was paid a small salary that "was enough to keep me in gas" as they say; the "real" money was in the commissions and I did very well in my job. Over the decades I invested the "extra" money in diversified investments (along with saving in a 401k plan) and that strategy paid off big time....I made the sacrifices I needed to make and spent intelligently. Forget about daily Starbucks. lol.) I retired 10 years ago and have a very comfortable retirement and enjoying these retirement years....travelling a few times a year and I go to Europe once a year on vacation. I can buy a new car too....a sedan.
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 cook at home 99% of the time ....yes, meal planning is key. I agree.
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.
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.
Yeah, The laziness of eating hurts people. Plus the lack of exercise to get the food and stay moving. All adds up. !
Great advice! My 1980 economic class teacher taught us these lessons
You don't go get Broadway tickets, you stay home and play cards!❤❤❤❤❤❤❤
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.
Our local bank still has Christmas Club accounts! Love mine.
the problem with the cars these days is the only 'junker' you can find is not one that will get you down the road for any length of time. It will have rust holes in the frame and can't pass inspection; it had an accident and the frame was bent, meaning you will forever be having to fix suspension issues, etc. (do you know how much it costs to fix a junker? PLENTY); or the engine is used up- you'll probably have to replace the engine within 6 months; or, it was a flood car and you never checked it out with a licensed mechanic of your own choosing. Coupled with the fact that newer autos have become totally unaffordable for regular working people. And don't get me started about the newer engine types that have major oil dilution or the strawberry milkshake problems that ruin the engine all to eke out 1/2 mile per gallon ratings they tout when you buy the car. If you have a good internal combustion engine car, keep it well maintained and it will serve you well. Don't buy cars with turbo chargers.
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."
My Mom passed in 2018, but she always had two Christmas clubs going throughout the year. Smart lady. She always used one to fill our oil tank and the other for, well, Christmas 😂
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
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.
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
@blder56 depends on where you go and what you do. Taking a vacation like a cruise really helps clearing the mind because you literally have nothing to worry about.
My most recent car purchase was about 4 years ago and I paid about $9k cash. I've put 70k miles on it and only replaced tires, brakes, and shocks... and ball joints, but I live in Michigan and the roads are constantly in a state of deterioration. Best car I've ever owned despite being a rebuild after an accident when the former owner hit a deer. I also hit a deer and had it repaired a second time. Still driving it at 145k and expect to get 180k or more. Not a looker but it goes down the two tracks and gets me to the trout streams for fly fishing therapy.
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.
Twenty years ago, before I had my big net worth, I did buy a new vehicle, but first, I had the income to pay it off early in three years and did so, second, I got a budget vehicle, not a top of the line one, third, I used my bro's A Plan and got it for just over dealer cost, and finally I drove it for 20 years, kept care of it including changing the oil regularly so it was exceptionally reliable. It had gotten old enough that I could not rely on it for long trips out of state and so I sold it in 18 hours for $2500 and I could have gotten 3 grand though I didn't realize this at the time. And yes, now I bought a nice truck brand new for 30 grand four months ago, and will pay it off next month.
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.
Chevy gave me a great deal on my first brand new car. My Malibooooyah is still running strong.
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
As a financial advisor, I concur 💯.
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.
Dave changed my life! 🎉