I just love it when he goes 'bazzerk' on the baby steps which shows how much he truly believes in the process. I'm on baby step 2 and have a print of debt taped to my bedroom wall that I speak to every morning ("You are going down buddy!"). Can't wait to make my debt free scream.
It's been 2 years since you posted this. Dave said (in this video) the average person takes about two years. I have a feeling you're already out of debt because of your printout and motivation every morning. How's it going? People out here need to see your success story! :)
Ignorant people only hear what they want to hear is usually the case. What Dave teaches just isn't about money its a way of life. Keep up the great work Dave!
I am SO thankful that someone around 15 years ago told me to listen to some of Dave Ramsey's Financial Advice. I WILL retire. If I hadn't listened and followed his advice I would not have been able to retire- its that simple.
I'm from the uk and out of debt now. I love Dave I listen to him for hours on end while doing stuff in the house,he's just so down to earth and sometimes we need to hear a rant to keep us on our toes,I love him when he is passionately shouting and telling us what's what.i wish we had a person just like him to explain the British laws and pensions etc,USA your so lucky,we do have people that help but not ranters like Dave. Unless of course I've not come across them yet.
I Just found dave....i and 31.....wish i could have found out about his sooner.......one of my biggest regrets !!!! love ya dave......RIP Kobe Bryant and GIG and 7 other people....YOLO
+Mack Jubrael how about this one ... Like fire, compound interest is a tireless and fateful servant but a horrible and and unforgiving Master -P T BARNUM
Mack Jubrael when fire is your servant = good thing ( cooking keeping house warm making light ) when fire is your master = bad thing (skin burns burn down house forest fires co2 poisoning ) when compound interest is your servant = good thing ( Owning growing stocks, loaning money to gov in form of bonds, every day increasing while you sleep) when your in debt, every morning you wake up you have less wealth then the when you when to sleep be cuz interest is working against you
Alimamy G Kanu That’s the FIRST step. Next thing you to learn is that what you call money is actually fiat currency. Money and fiat currency are not the same thing.
I am so truly grateful and full of thanks for and to Dave Ramsey. Thank you Dave and thank you Ramsey Solutions for being a pillar of wisdom and truth in our generation.
This is such good advise! I paid off over $600 for my car insurance in less than a month and the people at AAA thought there was something wrong when I came back again haha. It's a great feeling to have one less bill I need to worry about!
When I was in high school I hung out with the smartest kids in class I would go their houses and study with them spend lunch at the library with them. I did not necessarily smarter though it did help me advance but I didn’t end up like most kids going through school without an idea of what I was doing there or worse pregnant, dropping out or in drugs. I never got to be as smart as them but it sure did make make me feel smarter everyday.
Thank you Dave. I'm starting your plan, I have another bank account with a different bank to start baby step 1. I've had to do some radical things just to start baby step 1 then to baby step 2. My debt wouldn't allow me to do a baby step 1 so that's why I did the radical. I got tired of my debt telling me what to do. God bless you pal! Lol.
+dhilly right, it's like people think a child learned to run before it learned to walk or learned to ride a bicycle before riding a tricycle/ bike with training wheels.
The only thing I really would struggle with is taking everything out of my savings account to pay off debt. It has given me peace of mind having a large safety net.
+Megan Kramer Imagine going to your favorite place, at your favorite time of the year, knowing you can buy anything you desire because you have saved that money and you know you have gobs extra- everything is feeling great.... Except each person/company you owe money to is standing inches behind you, you feel their breath; every time you take a step- they take a step... That's the scenario I used for myself to quit that way of thinking. At one time in my career I was laid off 4 times in 10 years. I kept thinking I needed savings to get through those periods. I quickly learned, I needed to be debt free during those periods. Knowing creditors aren't going to come and take away your lifestyle gives you a peace of mind you can't even describe.
+Cay Cthulhu Agreed. And, to take it a step further, once she's out of debt, she'd be able to double or triple her savings account -- because instead of paying creditors, she can put most of her money into savings.
Megan Mawhinney Then you have become too comfortable with debt. The weight of the debt should make you feel the opposite of the comfort you feel with the savings. And once you lose the debt you'll realise that the 'power' and comfort of the saving is multiplied exponentially what it was before.
I needed to hear this. I was all for the baby steps but I was trying to do three of them simultaneously instead of focusing on one at a time and doing that one really well.
Not including Tragedies or your Income, you will build wealth if you follow this advice: 1. Live on a WRITTEN plan 2. Need to SAVE money (for 1: Emergencies, 2: Purchases to avoid debt, 3: To build wealth, retirement and college) 3. Get OUT of debt = freedom 4. Be GENEROUS 5. Be invested in QUALITY relationships = YOU ARE WHO YOU HANG AROUND WITH
I broke the no investing in baby step 2 rule. I still completed baby step two in 15 months. I really did not want to lose out on growth in the market. I also really really wanted to kick Sallie out of my house.
Maybe he meant that he had the 1000 emergency fund and not the fully funded one. On your plan you do have the emergency fund on baby step 2, it's just not the fully funded one.
something I don't get. I got 6-8 months of savings now I put that towards my debt til I have < 1 month of savings but what happens when you suddenly need that 6-8 months of savings?
I know this is late but read the book or take financial peace university. I have seen him make exceptions to the traditional baby steps if your income is HIGHLY unpredicatable. When was the last time you were out of work for that long of a time that wasn't due to injury? if the answer is yes i have and its been within a 2 year period of time and the likelyhood of that happening again is above 50% then leave your savings. If the answer is no never and the likelyhood is less then 20% then take that savings down to the $1000 and through it on debt. The less debt you have, the less risk you are in. The more debt you have, the more risk you have.
I am trying to sell stuff but so far no one is interested. Living very rural has some limitations but the benefits for us out way them. Just a little tougher to boot strap it compared to where we lived before.
I used Dave's methods to get out of almost all my debt. I just have school loans and that I'm tackling. The information here is pretty good but it's kind of outdated. Also, a thousand bucks won't do anything for you now in 2024 also, not saving while you're getting out of debt after a thousand bucks it's pretty dangerous. If I would have not saved several times while paying off debts I would have been way worse off, I would have been without a vehicle and possibly living in the street. Yes debt is stupid yes having an emergency fund is very smart yes living below your means is very smart, but the numbers need to be changed. You need thousands of dollars saved in your emergency fund right away. Not 1 thousand. Especially if you're a single parent and especially if everything relies on you.
Maybe someone can answer this for me. I am on baby step 3, growing the emergency fund. Now can i start to do investing along with saving or do i still have to stop investing and save.
+myname475 For an example; if your credit card has an interest rate of 20% and you investments have an interest rate of 10%, your money won't be working for you very efficiently. It can be done but it's like running with only one leg.
It's largely about the psychological effect. One part of it is about focusing on just one thing at a time, rather than trying to do a bunch of stuff at once. Also, when you know you're missing out on such a great return, you're more motivated to get yourself out of debt faster so you can go back to getting that match, so it provides another goal to look forward to. Losing out on the match may be worse from a pure numbers perspective, but this goes for much of Dave's advice as it's more centered around behavior/habits/motivation. His plan is about making fundamental changes in the way you handle money, which should be far more valuable than a temporary loss of the % return on any given investment.
I love dave but i have 30k in the bank and i am matching my employers 401k, so far i have paid 35k in debt out of 52k total, no way i was going to walk around with nothing but 1k to my name for 2 years, if i cant call it baby step 2 then ill call it something else, still love dave ramsey tho
What's the argument for the generosity aside from the Bible says it and successful people are generous? Seems like a no brainer that the people that make a lot can give a lot, but how does someone who only makes 30k a year financially justify giving away any of that.
Not even to the video yet and the commercial playing is for a toy called "Boxsy Girls." The idea is she is opening boxes of makeup, shoes, clothes, etc. The tag is "What's in the box? Only Boxsy Girls know!" This thing is marketing consummerism. Good grief!
I just love it when he goes 'bazzerk' on the baby steps which shows how much he truly believes in the process. I'm on baby step 2 and have a print of debt taped to my bedroom wall that I speak to every morning ("You are going down buddy!"). Can't wait to make my debt free scream.
Awesome!
It's been 2 years since you posted this. Dave said (in this video) the average person takes about two years. I have a feeling you're already out of debt because of your printout and motivation every morning.
How's it going? People out here need to see your success story! :)
Now been 3 years, hows it going?
Same! Got them taped up there for me to look at the reasons why I hustle every day!
How did it go?? Any updates???
I am so glad I found Dave Ramsey. You gave me more financial advice than my parents ever could. Thanks.
Now teach your parents. :D
Parents and the actual financial advisers that I've hired!
Me too
Same here, God bless him.
Ignorant people only hear what they want to hear is usually the case. What Dave teaches just isn't about money its a way of life. Keep up the great work Dave!
Wish I’d met this man 20 years ago.....but at least I’ve met him now. Pure , straight and true sense
"Sell so much stuff that kids think they are next".. mega lolz.. Love you Dave.
I was cracking up!
Cataranne TH n
I'm $200 away from finishing step one and then step 2 will be in full swing. Thank you Dave
"and you get to drive around the bank's car, that why they have drive up windows so the car can see the real owner" LOL
koolyo2foots
Man,
When Dr. Ramsey said that, I died laughing 😂😂
Lol
That was some funny stuff..
I died with that one 😂😂....😭truth hurts lol
My wife just said that sounds like something I'd say hahahaha
I am SO thankful that someone around 15 years ago told me to listen to some of Dave Ramsey's Financial Advice. I WILL retire. If I hadn't listened and followed his advice I would not have been able to retire- its that simple.
👍
Dave is a truthful parent..listen to him for our kids sake as well as our own..God bless you Dave.
I love his rants!!
I needed to hear this. The Lord knows I've been addicted to saving money that I neglected tackling my debt.
Pre Baby Step One:
Stop Adding New Debt.....
I'm from the uk and out of debt now. I love Dave I listen to him for hours on end while doing stuff in the house,he's just so down to earth and sometimes we need to hear a rant to keep us on our toes,I love him when he is passionately shouting and telling us what's what.i wish we had a person just like him to explain the British laws and pensions etc,USA your so lucky,we do have people that help but not ranters like Dave. Unless of course I've not come across them yet.
Martin Lewis is great but too British 😂
Dave is aweeeesome!! "i have an opinion, i have an experience"priceless.. love it.
Love it too😎
I was listening to Dave on the radio when he was giving this rant. :)
I Just found dave....i and 31.....wish i could have found out about his sooner.......one of my biggest regrets !!!! love ya dave......RIP Kobe Bryant and GIG and 7 other people....YOLO
A MAN THAT CHASES TWO RABBITS CATCHES NEITHER
That is a good example!
+Mack Jubrael how about this one ...
Like fire, compound interest is a tireless and fateful servant
but a horrible and and unforgiving Master -P T BARNUM
+JasonfromMinnesota I was too dumb to really get this one ._.
Mack Jubrael
when fire is your servant = good thing ( cooking keeping house warm making light )
when fire is your master = bad thing (skin burns burn down house forest fires co2 poisoning )
when compound interest is your servant = good thing ( Owning growing stocks, loaning money to gov in form of bonds, every day increasing while you sleep)
when your in debt, every morning you wake up you have less wealth then the when you when to sleep be cuz interest is working against you
+JasonfromMinnesota oh smart!😉
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you changed my view about money.
Alimamy G Kanu That’s the FIRST step. Next thing you to learn is that what you call money is actually fiat currency. Money and fiat currency are not the same thing.
Never had any debt so I guess I'm ahead of the curve
I listen to Dave Ramsey everyday! Hooked for the past five years! 😬🖋📕.
I couldn't have guessed how amazing debt freedom would feel!
Need more of those Dave's rants!!!!! please!!! thanks
I am so truly grateful and full of thanks for and to Dave Ramsey. Thank you Dave and thank you Ramsey Solutions for being a pillar of wisdom and truth in our generation.
OH MAN I JUST LOVE DAVE RAMSEY THANK GOD FOR YOUR TEACHING SIR. BLESS UP FROM JAMAICA.
I have to thank Dave, thanks to him I do not have debt anymore, thank you Dave!!
Thank you for keeping Jesus in your advice. 🙌🏼
This is such good advise! I paid off over $600 for my car insurance in less than a month and the people at AAA thought there was something wrong when I came back again haha. It's a great feeling to have one less bill I need to worry about!
When I was in high school I hung out with the smartest kids in class I would go their houses and study with them spend lunch at the library with them. I did not necessarily smarter though it did help me advance but I didn’t end up like most kids going through school without an idea of what I was doing there or worse pregnant, dropping out or in drugs. I never got to be as smart as them but it sure did make make me feel smarter everyday.
Thank you Dave. I'm starting your plan, I have another bank account with a different bank to start baby step 1. I've had to do some radical things just to start baby step 1 then to baby step 2. My debt wouldn't allow me to do a baby step 1 so that's why I did the radical. I got tired of my debt telling me what to do. God bless you pal! Lol.
Well spoken dave. 7:08 had to lower the volume in my car lol .. the man is a genius.
I had to tell my son that Dave is actually really nice! 🤣🤣🤣
I just paid cash for a Honda Fit 2008 for $3000. Thanks Dave for training me well! 🏝🏝🏝
Glad he did this rant, there's been a lot of these types of calls lately! #TeachIt
+dhilly right, it's like people think a child learned to run before it learned to walk or learned to ride a bicycle before riding a tricycle/ bike with training wheels.
These rants are my favorite! He’s just so funny!
He is Genius
He's a "Mad" Genius. (Dramatic Wink) ;D
The only thing I really would struggle with is taking everything out of my savings account to pay off debt. It has given me peace of mind having a large safety net.
+Megan Kramer Imagine going to your favorite place, at your favorite time of the year, knowing you can buy anything you desire because you have saved that money and you know you have gobs extra- everything is feeling great.... Except each person/company you owe money to is standing inches behind you, you feel their breath; every time you take a step- they take a step... That's the scenario I used for myself to quit that way of thinking. At one time in my career I was laid off 4 times in 10 years. I kept thinking I needed savings to get through those periods. I quickly learned, I needed to be debt free during those periods. Knowing creditors aren't going to come and take away your lifestyle gives you a peace of mind you can't even describe.
You wouldn't need such a large safety net if you didn't have the debt. Just do it like a band-aid. Rip that sucker off.
+Cay Cthulhu Agreed. And, to take it a step further, once she's out of debt, she'd be able to double or triple her savings account -- because instead of paying creditors, she can put most of her money into savings.
+Megan Kramer You have an opinion? You also have debt...
Megan Mawhinney Then you have become too comfortable with debt. The weight of the debt should make you feel the opposite of the comfort you feel with the savings. And once you lose the debt you'll realise that the 'power' and comfort of the saving is multiplied exponentially what it was before.
His frustration made me laugh out loud. And I think it was even better on video than it would have been on the radio haha!
yep, sometimes I just rewatch his videos to get a good laugh
He cracks me up!
I needed to hear this. I was all for the baby steps but I was trying to do three of them simultaneously instead of focusing on one at a time and doing that one really well.
I'm still unclear about Baby Step 2???....said no one!!!
Thank you Dave!!!
Thanks for that spanking Dave. I needed that!!! God bless you!
Not including Tragedies or your Income, you will build wealth if you follow this advice:
1. Live on a WRITTEN plan
2. Need to SAVE money (for 1: Emergencies, 2: Purchases to avoid debt, 3: To build wealth, retirement and college)
3. Get OUT of debt = freedom
4. Be GENEROUS
5. Be invested in QUALITY relationships = YOU ARE WHO YOU HANG AROUND WITH
Love this rant so much!
At the end he said "5, 6, 7" but really those steps are "4, 5, 6". Gotcha, Dave!
😂 I love with Dave changes his voice!!! Hahaha🤣🤣🤣
I think he was a little mad lol.
just a tad lol
I have to come back here every once in a while just to remind myself why I have to keep going.
It’s NOT the only way it works. I’m proof of that.
I am definitely drinking the Dave Ramsey lemonade. Lol
love these rants
I was young and foolish and should have taken your class a long time ago. Just glad I got to it when I'm still in my younger 30s =)
Love this! God bless 😊 ✝️
I broke the no investing in baby step 2 rule. I still completed baby step two in 15 months. I really did not want to lose out on growth in the market. I also really really wanted to kick Sallie out of my house.
Great old uncle Dave😂😂😂
Thank you for this.
Dave pulled my covers on this one. "Should I use my $15,000 in the bank" to pay off my $14,000 student loan debt?
YES!
I been hanging out with little Johnny. :(
People are selective listeners and readers... they pick and choose what they feel is right
Lol, don't try to tell Dave the definitions of his steps/plans.
"NO YOU'RE NOT!..." Lol
No debt here, saving 18800., no kids, just us im feeling pretty good myself
one day I am going to do the dave ramsey scream only not in the studio but on my front lawn lol.
Maybe he meant that he had the 1000 emergency fund and not the fully funded one. On your plan you do have the emergency fund on baby step 2, it's just not the fully funded one.
something I don't get. I got 6-8 months of savings now I put that towards my debt til I have < 1 month of savings but what happens when you suddenly need that 6-8 months of savings?
+ILostMyAccuracy you need to take the full class or read the book. He explains it all in depth
GET OUT OF DEBT NOW; THANK ME LATER.
I know this is late but read the book or take financial peace university. I have seen him make exceptions to the traditional baby steps if your income is HIGHLY unpredicatable. When was the last time you were out of work for that long of a time that wasn't due to injury? if the answer is yes i have and its been within a 2 year period of time and the likelyhood of that happening again is above 50% then leave your savings. If the answer is no never and the likelyhood is less then 20% then take that savings down to the $1000 and through it on debt. The less debt you have, the less risk you are in. The more debt you have, the more risk you have.
Don't give your money to the bank!
What happens when you don’t have a balanced budget because of costs you can’t cut? And can’t afford the cost of moving?
I am trying to sell stuff but so far no one is interested. Living very rural has some limitations but the benefits for us out way them. Just a little tougher to boot strap it compared to where we lived before.
"Be generous" seems a bit vague. Someone can be "generous" to Apple, BMW, and Best Buy but that doesn't mean it's good.
You're not being generous to them. You're trading with them. An item for money. With giving what you get back is feels and good vibes😁
YES!!! 7:07
when that Kermit the Frog voice hits, you know The Rant is coming... lol!
My friends were Druggies For 20 years I never touched them I resisted the temptation They have mocked me but I did resist
RECAP: 1. Live on a written plan w/ money
2. Save & Invest money
3. Get out of debt
4. Be outrageous in your giving
5. Invest in quality relationships
I used Dave's methods to get out of almost all my debt. I just have school loans and that I'm tackling. The information here is pretty good but it's kind of outdated. Also, a thousand bucks won't do anything for you now in 2024 also, not saving while you're getting out of debt after a thousand bucks it's pretty dangerous. If I would have not saved several times while paying off debts I would have been way worse off, I would have been without a vehicle and possibly living in the street. Yes debt is stupid yes having an emergency fund is very smart yes living below your means is very smart, but the numbers need to be changed. You need thousands of dollars saved in your emergency fund right away. Not 1 thousand.
Especially if you're a single parent and especially if everything relies on you.
When you say generous you mean by giving family money and not being selfish?? Someone explain that to me please ?
I miss old school Dave..
Little Johnny 😂😂
obsessed!
Where does saving for home repairs come in?
theres where the gray area comes in on BS2. 'sinking funds'
Maybe someone can answer this for me. I am on baby step 3, growing the emergency fund. Now can i start to do investing along with saving or do i still have to stop investing and save.
+myname475 For an example; if your credit card has an interest rate of 20% and you investments have an interest rate of 10%, your money won't be working for you very efficiently. It can be done but it's like running with only one leg.
+myname475 Sorry, I over read "Step 3" but doing two things at once still isn't as efficient as focusing on one step at a time.
+myname475 you don't stop investing because you haven't started yet. You save 3-6 months of expenses with no investing.
7:08 😆
Dave saying northerners have an accent is a good laugh.
@7:07 I thought it was Jack Black, lol.
@7:14 - quickly! start the music.. Dave's gone off-script again!... ;D
And people still call and ask 😂 I love watching his show… because it’s jus repeating himself over and over… Jesus people simply don’t THINK
What kind of idiot wouldn't use an employer match? It's one of the only things in life that gets you instant free money with literally zero risk...
It's largely about the psychological effect. One part of it is about focusing on just one thing at a time, rather than trying to do a bunch of stuff at once. Also, when you know you're missing out on such a great return, you're more motivated to get yourself out of debt faster so you can go back to getting that match, so it provides another goal to look forward to. Losing out on the match may be worse from a pure numbers perspective, but this goes for much of Dave's advice as it's more centered around behavior/habits/motivation. His plan is about making fundamental changes in the way you handle money, which should be far more valuable than a temporary loss of the % return on any given investment.
We up north have the accents? Lol.
House is a debt but would he have it paid off
I love dave but i have 30k in the bank and i am matching my employers 401k, so far i have paid 35k in debt out of 52k total, no way i was going to walk around with nothing but 1k to my name for 2 years, if i cant call it baby step 2 then ill call it something else, still love dave ramsey tho
Gees Dave! Riled up?
Who got thrown off the island?
7;07 I LOVE THIS GUY
What's the argument for the generosity aside from the Bible says it and successful people are generous? Seems like a no brainer that the people that make a lot can give a lot, but how does someone who only makes 30k a year financially justify giving away any of that.
R.I.P Redbull 😂
As Bugs Bunny used to say, "unlax Fuddsy.
I just realised I've always had steps 1,2 and 3 done
Um the rich aren't generous. They pretend to be.
the bible also talks about what to do with slaves -- should i enslave my stupid neighbor? that guy drives me crazy but he's big and strong!!
Funny, the commenters who scoff at Dave's advice. It's like a Muslim going into a Christian church. If you're not a believer, find a mosque.
I like the Ramsey's style but I could go without the Jesus stuff
Then you'll have to go with someone who doesn't follow Jesus, but I don't recommend that.
you have to ignore that if you don't like it. I am not with the christians either, but this guy knows how to get out of debt.
:)
Not even to the video yet and the commercial playing is for a toy called "Boxsy Girls." The idea is she is opening boxes of makeup, shoes, clothes, etc. The tag is "What's in the box? Only Boxsy Girls know!"
This thing is marketing consummerism. Good grief!