I think sticking to baby steps 1 - 3 are the most important for most people. After that I'm sure most tweak the plan according to their own personal beliefs and circumstances.
50 usd per month going to take me 20 months to reach 1000 as a pensioner Attacking debt sometimes around Christmas 🎄 it's the minimum still working on cc debt but am seeing some light
In 1960, just 8% of American adults had a college degree, and that met the needs of corporate America. By 2000, it was 26%. In 2021 it was 38%. We're approaching saturation. We still need truck drivers, retail workers, factory workers, mechanics, and tradesmen. Many graduates are in debt and underemployed because there's no demand for their chosen field of study.
@@EverybodyLovesSarah Some of the trades pay better than entry level college educated work. If you are willing to work, you can make more money in the trades than in middle management. Easily into the six figures.
@EverybodyLovesSarah People at the company I work for hire students right out of trade school with no experience at $32/hr plus benefits. For a cost of living comparison, our gas is 2.64, a nice 3 bed 2 bath home with an acre of land is less than 250k. This is pretty common in midwest cities.
I use to listen to Dave Ramsey about 20ish years ago and the calls he would get were heart wrenching. At times, I would cry and feel so sorry for the callers. Now, I feel like there are 2nd generation individuals that don’t get why his plan is the way it is. They have heard other ideas. Ramsey was one of the first to talk about personal finance.
7 months ago we sold our home, paid off ALL debt, paid cash for a tiny house. Tight for space? Yes, had some issues? Yes but also have had the money to take care of the issues.
Yes! I bought an RV to save money on housing. Now my RV is paid for and I pay $125 a month to rent a private lot and water is included. Sure it’s small, but it’s cozy and it saves me so much on monthly expenses and I’ve been able to bring my credit up from the low 500s to 700 in 2 years!
I found Dave Ramsey after an unexpected layoff. When I went back to work I had gone through all my savings after 10 weeks unemployed. I never wanted to be unprepared for whatever may happen. I did baby step 1 and skipped baby step 2 and went to 3 which is 3-6 months emergency fund because I was so scared of giving any income away in case I lost my job again. Long story short I have the 6 month emergency fund, but still have 8000 in debt. I wish I had gotten rid of it 3 years ago instead of getting the emergency fund. My credit would be better and no bills in the mail every month.
I am with you 100 percent on paying for the kids college. I also skipped that step. We have decided we are helping them some, but we are also encouraging them to be smart about it. Go in state, and work hard towards scholarships. The better my finances are, the more I can help them as we see fit.
Zig Ziglar said, "You can have everything that you want if you can help enough other people get what they want." People who win with their finances tend to be landlords, business owners, doctors, entertainers, innovators, etc.
I'm thankful for Dave Ramsey, he gave me a path to getting out of debt. I paid off the smallest chunk of my student loan first, seeing that progress was the motivation that kept me on the path to paying it off but I did tweak his plan and began paying off by the highest interest rate. It felt like emancipation paying that off. Also in one of your earlier videos you were saying your friends and family couldn't relate to your debt free plans, I was paying my student loan off during the pandemic when the interest was stopped and people were thinking/hoping the loans were going to be forgiven so why pay on them, I'm thankful I didn't listen to that pipe dream, it feels so good to be debt free
Most student loans have several loans. I went and signed in and put extra to one loan at a time as I was paying the overall loan. Making steps to pay off each loan was success for me. In 2013 I was 300,000 in debt. Now - zero. I agree dicipline.
I'm Canadian. I used Dave Ramsay's method as a guideline to help get rid of debt. We are consumer debt-free. I have a $1000 cash emergency fund. I plan to keep my car when our lease is up this year. Our daughter plans to go to a trade school for her career. I do highly recommend paying off your mortgage before you retire. We plan to pay it off before we turn 60. (That's in about 5yrs) I do agree with some of your points. It's not for everyone. But it's a good start 😁
I also have credit cards and skipped the college step lol. I will say that I understand that Dave’s way is the safest way to do things. Having no debt on cars etc., got us through a few times of unemployment, Illness and other unpredictable times. I believe Dave’s way works always- so it makes sense that he is teaching the sort of “guaranteed” way to be financially okay, and I recognize that although I choose credit cards it’s more out of laziness then because I think he’s wrong. I just don’t want to do the cash system because it feels overwhelming to have to worry about having the envelopes whenever I need to pick up a last minute milk or losing it lol. I’ve always been responsible with money and never keep a balance, but I would never teach someone my way because I know that doesn’t work for most people. And that by having a card you do spend at least a little more than you would if you could only pay cash. I put his way as the standard and just try to get as close to it as possible.
I feel babystep 1 should be 2 to $3000. I like the snowball effect. It works but if you are impatient it will be hard. Average time to pay off all debt is 2 to 3 years depending on the amount of debt you have. I don’t agree with stopping retirement investing either til debt is paid off. When rates are down and stocks you may miss opportunities. Just do minimum. As for college we told our daughter she has to pay for first two years of college and then we will help with the other two years. She is starting college at a tech college and will transfer to a university. Smarter move.
The debt snowball makes sense emotionally but mathematically I HAVE to pay off my credit cards first before my hospital bills since those are 0% interest and our credit cards is upwards of 20%.
Not that I really follow the DR baby step program I did do the snowball thing back in 2008 to clean up credit card / auto loan debt than jumped into 3-6 months of expenses saved and did 10% into a 401K for no other reason than to get the 3-6% match. I moved onto building wealth and yesterday at age 65 I paid off my house. If there is only ONE piece of advice I could pass along to the young people is that if you start saving now even if it's just 5-10% you will be very rich when you retire. I didn't figure this out until age 50, I lost out on 30 years of potential savings. That's huge.
Great perspective. Great video. My wife and I are both in school with a baby on the way, so having a little more cushion in an emergency fund puts our minds more at ease than the recommended $1,000 in step 1. Also, the credit score portion of this video hits home. I have mixed feelings about credit card use. A credit score was required to get into an apartment where we live, so not keeping up the credit score is not really an option in this stage of our lives.
Point 1 is really important. You can't do it if your mindset isn't right. My husband and I paused the FPU lessons and heard The Legacy Journey course first. We needed to break the idea that "rich people are evil and don't go to heaven" before we could follow the path. Then we were able to finish FPU.
I like Dave for baby steps 1-4. I will be on baby step 6 at the end of the year. I did it because I just got tired of debt. My take home is 5 figures per month so that helps. The dream isn’t worth it anymore. ✌🏿
I agree with Dave Ramsey when it comes to consumer debt. Assets that cost you more then the return you can make. Such as credit cards, cars, loans. Once past baby step 3 then I think people can venture on their own
There is a huge difference between the book, and real life. Some people learn that the hard way, and some love school so much that they refuse to learn that.
You definitely need the Mindset to do it. I’m following it rn but I can tell you a lot of people can’t do this. My debt isn’t bad but I just want better for myself.
Why have you guys stopped uploading video's? I really enjoyed the journey you guys were on and I wanted to see how everything was going with the new house.
Im through step 4, no debt. I don't have kids (forever single 😢) so step 5 is N/A for me. I am renting an apartment as it seems like the best option for the area I live in. I'd like to buy a house in my early 30s depending on how the market is doing, but honestly it's a little intimidating to own a house by myself without a significant other
@@Maiseymax696 You’re doing amazing-step 4 and no debt is a huge accomplishment, especially at your age: Buying a house solo can feel intimidating, but it’s absolutely doable if it aligns with your goals. Just start with a 2 bedroom house. Take your time, weigh your options, and trust the process. You’ve already proven you can handle big decisions!
I am so damn frustrated with the baby steps. Or rather our context within it. It seems like we get debt free, start saving, and thousands of dollars in emergencies or medical bills hit. Murphy won’t get TF out of our house. I’m about ready to quit. 😢
Your delivery...........is beautiful........ But the fruit of the Spirit is love, joy, peace, longsuffering, kindness, goodness, faithfulness, gentleness, self-control. Against such there is no law. Galatians 5:22-23 That other "famous" guy you mentioned, ..... Not so much.
Some good points, if you looked at my 401k you'd think I was far behind for a 34 year old. However, most of my "retirement" is in real estate, I have rentals with lots of equity and they cash flow. My low interest rate mortgages will be paid off by tenants when it's time for me to retire, so I can either reinvest with 1031s for more cash flow/deprecation or just sell. Dave would hate my current situation though, being in almost $1m debt, all of which is from mortgages, no other debt.
I think you may have missed the purpose of college, perhaps. It's not just for vocational training to make money. It's to learn how to think critically, how to communicate well, and to learn about ideas and the world's people and history. Anyone who doesn't have that exposure is missing out. I'm getting the impression from watching a few of your videos that perhaps you got so sucked into Dave Ramsey's "laser focus" on money that you may have lost sight of other important things in life, such as family, a broader education, the ability to think critically about religion and religious organizations so that you can keep a healthy distance from religions and not get sucked in by religion, and to not get sucked in by Dave Ramsey or other influencers so much. I'm glad you're demonstrating in this video that you do have the ability to question, including Dave Ramsey 's advice. I hope you will keep going with that critical thinking. Btw,ni think there is a fair amount of sense in Dave's advice on money, but it's important to think critically about everything, snd to customize or reject what we dont think is sound. Thank you for your insights. Please keep them coming. Best wishes for you, your wonderful partner and baby.
He’s probably got a tiny mic up his shirt connected to his phone camera. Most RUclipsrs use tiny mics connected to their phone. It’s hidden in his collar.
Sacrifice nothing, get nothing. Ramsey plan works. It’s a few years of sacrifice. Nothing but pure abundance on the other side of it. Baby step 7 and loving life.
The thing that doesn’t add up is cash flowing everything. Most people don’t make enough to cash flow their life. The prices of food, education, medical, dental is very expensive. My house is paid off and now 20 years later I’m wanting to upgrade my baths and kitchen. So there goes my savings.
Unfortunately I think college is a necessary evil. That piece of paper is really important if you want to be competitive in the job market. My college-educated spouse earns way more than me as someone with a high school diploma. Thanks to compound interest you don't have to sock away much money every month to give your child a really good nest egg to use on whatever tertiary education they want to pursue. I agree with you that self-reliance and problem-solving skills are really important, but I'm planning to teach my future kids that in other ways. I'm going to get their education savings started early to ensure I give them the leg up I didn't have.
Incredibly charming video. Glad I had an open mind going into this one. lol. Dave Ramsey is not a demi God. He literally just gives money advice. I love him and it's changing my life, but I don't worship men. I study them and follow advice. That simple. You just have to become your own parent. It's called re parenting these days. Which is dumb. Just be your own grandma. That's the deal.
@@ALinn-vr3nl The Running Start Program allows high school students to attend community college in their junior & senior years and receive both high school and college credits. You have to pay for books and transportation, tuition is free.
These steps may not be for someone who is in their late 40s-50s, like me. I am trying to tackle all at the same time. It's just a matter of discipline. Also, with the student loan situation, a lot of people will just give up on paying it, as long as they tackle other debts.
Your comment sounds sarcastic. Why it's surprising to you? Have you not known that there was a very large population of people over 50 have student loans debt? A lot of adults go to school when they already have jobs, families, mortgages, etc. They take online, part time classes. That is surprising to me that you were surprised you had people over 50 watching your channel.
@@victorianoel9784 50 years old is too close to retirement age of 65, so there is not enough time for compound interest to really work to save for retirement. Student loans is the most dangerous debt because even bankruptcy will not erase student loan debts.
Just getting on a budget which I was never taught as it was not ourculture,spend,spend spend, was good enough for me. I'm always blown away by all who go against what Dave says but there's no data or number of people doing youll plan and creating MILLIONAIRES as proof as it works,Daves method is a proven so your advice is not for me sorry....
No maybe he’s just buying real estate (rentals, land, etc) instead of the stock market. You can fund your retirement just fine without ever paying into government sponsored retirement accounts.
You should definitely not do Dave Ramsey if you want to remain poor and stay attached to your debt. Debt free and no credit score, what kind of weirdo wants that?
I’m not American and before I ever came across Dave Ramsey, I followed Martin Lewis's Uk blog moneysavingexpert and they had a community of people there in one of the discussions who were trying to pay off their mortgages, there was also a program on the bbc about people paying off their mortgages early. We were on a low income but chipped away at the term throwing everything at it and managed to pay it off in 11 years, luckily we had an emergency fund 3-6 months of expenses first because shortly after that we had a setback of a job loss. We were cushioned by our emergency fund and mortgage free with no other debt. I’ve always been a good saver but what helped me the most was implementing a zero based budget like Dave Ramsey suggests but I got a discounted YNAB licence and have been using it for years, it has gone subscription based now for new customers though I’d still recommend it. I also think that I’d prefer the avalanche method over the snowball as I am wise to the psychology of it. Here in Europe it’s necessary to have a credit card for car rentals on holidays, otherwise I use my debit card as we don’t have the great advantages Americans have with travel perks etc. investing here is more complicated too with taxes especially on a low income and I’ve yet to get my head around it. So I kind of did bits and bobs of Dave Ramsey's plan in a backwards and roundabout way. I do like how he has helped so many get out of debt and how he portrays millionaires as regular Joes. I do like to give to certain charities and my church and like that he encompasses that. It must be great to be a philanthropist. There are certain jobs that you do need a university degree though such as doctors, engineers, teachers, lawyers etc. but if your other investments in real estate work out as you say, that could help. I have a degree which I went to uni for but some of the best things I learned for free were from coursera, I did two great ones in psychology. Travel is a great education too.
THE THING THAT MOST OR MAJORITY OF PEOPLE WHO CAN'T GET AHEAD OF THEIR FINANCES BIGGEST MISTAKE & ISSUE IS THEY "CAN'T LIVE ACCORDING TO THEIR MEANS". PEOPLE WHO CAN'T HAVE THE WILL POWER TO ONLY SPEND WHAT THEY CAN AFFORD CAN'T GET AHEAD OF THEIR BILLS. ONCE YOU DEVELOP TEMPERANCE & MORTIFICATION, HAVING STRENGTH NOT TO SPEND OR BUY WHEN YOU KNOW YOU CAN"T AFFORD TO EVEN PAY YOUR BILLS. IF YOU ARE LIVING PAY CHECK TO PAY CHECK THEN YOU LIKELY NEED TO GET ANOTHER 2ND JOB, GET A RAISE, WORK LONGER HOURS ETC...IF THERE IS A WILL THERE IS A WAY. YES, IT ISN'T ALWAYS EASY TO GET THAT DONE BUT YOU HAVE THAT CHOICE IF YOU REALLY WANT TO GET BETTER IN YOUR FINANCES. GIVING UP SOME LUXURIES IS SOMETIMES NECESSARY TO SAVE MORE MONEY! HARD WORK & SOME SACRIFICES ARE THINGS WE AS A SOCIETY NEED TO STOP FROWNING ON. LIFE IS NOT EASY & UPS & DOWNS ARE PART OF IT. IT"S HOW YOU CHOOSE TO HANDLE THOSE BUMPS IN THE ROAD OF LIFE MATTERS. God Bless :)
I think sticking to baby steps 1 - 3 are the most important for most people. After that I'm sure most tweak the plan according to their own personal beliefs and circumstances.
True
50 usd per month going to take me 20 months to reach 1000 as a pensioner
Attacking debt sometimes around Christmas 🎄 it's the minimum still working on cc debt but am seeing some light
In 1960, just 8% of American adults had a college degree, and that met the needs of corporate America. By 2000, it was 26%. In 2021 it was 38%. We're approaching saturation. We still need truck drivers, retail workers, factory workers, mechanics, and tradesmen. Many graduates are in debt and underemployed because there's no demand for their chosen field of study.
We have more people with bachelor degrees in sociology and psychology than we will ever need.
There are even office options that don't require any sort of college education.
These trades unfortunately don’t pay well enough either for difficult work
@@EverybodyLovesSarah Some of the trades pay better than entry level college educated work.
If you are willing to work, you can make more money in the trades than in middle management. Easily into the six figures.
@EverybodyLovesSarah People at the company I work for hire students right out of trade school with no experience at $32/hr plus benefits. For a cost of living comparison, our gas is 2.64, a nice 3 bed 2 bath home with an acre of land is less than 250k. This is pretty common in midwest cities.
Have you left RUclips? I haven’t seen you post since this video. Hope you guys are ok and doing well. Miss the videos.
I use to listen to Dave Ramsey about 20ish years ago and the calls he would get were heart wrenching. At times, I would cry and feel so sorry for the callers. Now, I feel like there are 2nd generation individuals that don’t get why his plan is the way it is. They have heard other ideas. Ramsey was one of the first to talk about personal finance.
Jereme where have you gone? You started with a big bang📣 where are you now?
I wondered too. Last video was a year ago
@yogaqueen1527 same just check today and still nothing 🙃
7 months ago we sold our home, paid off ALL debt, paid cash for a tiny house.
Tight for space? Yes, had some issues? Yes but also have had the money to take care of the issues.
Yes! I bought an RV to save money on housing. Now my RV is paid for and I pay $125 a month to rent a private lot and water is included.
Sure it’s small, but it’s cozy and it saves me so much on monthly expenses and I’ve been able to bring my credit up from the low 500s to 700 in 2 years!
Where did you guys go? Hope all is well.
I found Dave Ramsey after an unexpected layoff. When I went back to work I had gone through all my savings after 10 weeks unemployed. I never wanted to be unprepared for whatever may happen. I did baby step 1 and skipped baby step 2 and went to 3 which is 3-6 months emergency fund because I was so scared of giving any income away in case I lost my job again. Long story short I have the 6 month emergency fund, but still have 8000 in debt. I wish I had gotten rid of it 3 years ago instead of getting the emergency fund. My credit would be better and no bills in the mail every month.
Where did you guys go?
Are you ok? Been looking forward to updates.
I popped over here to catch up - it's been 11 months - I really hope everything is okay in your family.
I am with you 100 percent on paying for the kids college. I also skipped that step. We have decided we are helping them some, but we are also encouraging them to be smart about it. Go in state, and work hard towards scholarships. The better my finances are, the more I can help them as we see fit.
I hope all is well! Miss watching this Chanel!
Zig Ziglar said, "You can have everything that you want if you can help enough other people get what they want." People who win with their finances tend to be landlords, business owners, doctors, entertainers, innovators, etc.
I'm thankful for Dave Ramsey, he gave me a path to getting out of debt. I paid off the smallest chunk of my student loan first, seeing that progress was the motivation that kept me on the path to paying it off but I did tweak his plan and began paying off by the highest interest rate. It felt like emancipation paying that off. Also in one of your earlier videos you were saying your friends and family couldn't relate to your debt free plans, I was paying my student loan off during the pandemic when the interest was stopped and people were thinking/hoping the loans were going to be forgiven so why pay on them, I'm thankful I didn't listen to that pipe dream, it feels so good to be debt free
Most student loans have several loans. I went and signed in and put extra to one loan at a time as I was paying the overall loan. Making steps to pay off each loan was success for me. In 2013 I was 300,000 in debt. Now - zero. I agree dicipline.
Thanks for sharing. I used to come here all the time for motivation. I'm praying you're all doing well. Give us an update. 🙏✨️😌
Why you guys stop uploading?
Concerned about you guys. Are you ok???
I'm Canadian. I used Dave Ramsay's method as a guideline to help get rid of debt. We are consumer debt-free. I have a $1000 cash emergency fund. I plan to keep my car when our lease is up this year. Our daughter plans to go to a trade school for her career. I do highly recommend paying off your mortgage before you retire. We plan to pay it off before we turn 60. (That's in about 5yrs) I do agree with some of your points. It's not for everyone. But it's a good start 😁
This plan is not for you if your spouse is not on board. Trust me on that.
Will you be posting again? Miss your videos.
I also have credit cards and skipped the college step lol. I will say that I understand that Dave’s way is the safest way to do things. Having no debt on cars etc., got us through a few times of unemployment, Illness and other unpredictable times. I believe Dave’s way works always- so it makes sense that he is teaching the sort of “guaranteed” way to be financially okay, and I recognize that although I choose credit cards it’s more out of laziness then because I think he’s wrong. I just don’t want to do the cash system because it feels overwhelming to have to worry about having the envelopes whenever I need to pick up a last minute milk or losing it lol. I’ve always been responsible with money and never keep a balance, but I would never teach someone my way because I know that doesn’t work for most people. And that by having a card you do spend at least a little more than you would if you could only pay cash. I put his way as the standard and just try to get as close to it as possible.
REALLY enjoyed this perspective of the baby steps!!
Diligence and contentment are my words to focus on in 2023 ❤
I feel babystep 1 should be 2 to $3000. I like the snowball effect. It works but if you are impatient it will be hard. Average time to pay off all debt is 2 to 3 years depending on the amount of debt you have. I don’t agree with stopping retirement investing either til debt is paid off. When rates are down and stocks you may miss opportunities. Just do minimum. As for college we told our daughter she has to pay for first two years of college and then we will help with the other two years. She is starting college at a tech college and will transfer to a university. Smarter move.
Hey man life got in the way? Your videos have such good quality and delivers some great advice. Internet needs you.
I am sure after the passing of his wife it has been difficult for him
@@clarissaturcios2346 Whaaaaat? his wife passed? Thats so sad. Hope he is okay.
@@clarissaturcios2346wow really? How?
The debt snowball makes sense emotionally but mathematically I HAVE to pay off my credit cards first before my hospital bills since those are 0% interest and our credit cards is upwards of 20%.
Not that I really follow the DR baby step program I did do the snowball thing back in 2008 to clean up credit card / auto loan debt than jumped into 3-6 months of expenses saved and did 10% into a 401K for no other reason than to get the 3-6% match. I moved onto building wealth and yesterday at age 65 I paid off my house. If there is only ONE piece of advice I could pass along to the young people is that if you start saving now even if it's just 5-10% you will be very rich when you retire. I didn't figure this out until age 50, I lost out on 30 years of potential savings. That's huge.
Hi Jereme! Will you make more new videos so we can not follow along? I am a new subscriber. Love watching your journey. Thank you.❤
totally agree with teaching your kids how to be resourceful vs. giving them everything. They don't learn and become needy late in life.
Great perspective. Great video. My wife and I are both in school with a baby on the way, so having a little more cushion in an emergency fund puts our minds more at ease than the recommended $1,000 in step 1. Also, the credit score portion of this video hits home. I have mixed feelings about credit card use. A credit score was required to get into an apartment where we live, so not keeping up the credit score is not really an option in this stage of our lives.
Point 1 is really important. You can't do it if your mindset isn't right. My husband and I paused the FPU lessons and heard The Legacy Journey course first. We needed to break the idea that "rich people are evil and don't go to heaven" before we could follow the path. Then we were able to finish FPU.
I like Dave for baby steps 1-4. I will be on baby step 6 at the end of the year. I did it because I just got tired of debt. My take home is 5 figures per month so that helps. The dream isn’t worth it anymore. ✌🏿
Miss your content Jereme. Hope you and your family are ok.
I agree with Dave Ramsey when it comes to consumer debt. Assets that cost you more then the return you can make. Such as credit cards, cars, loans. Once past baby step 3 then I think people can venture on their own
What are your thoughts on condos?
There is a huge difference between the book, and real life. Some people learn that the hard way, and some love school so much that they refuse to learn that.
You definitely need the Mindset to do it. I’m following it rn but I can tell you a lot of people can’t do this. My debt isn’t bad but I just want better for myself.
Hoping you're all ok, missing your presence on here.
Why have you guys stopped uploading video's? I really enjoyed the journey you guys were on and I wanted to see how everything was going with the new house.
Hey Jeremy, checking in on you guys. We really miss your content! Hope all is well.
I love credit cards. I put everything including bills on my rewards card and pay it off every month. I get 1% - 5% back, but don't pay interest.
Im through step 4, no debt. I don't have kids (forever single 😢) so step 5 is N/A for me. I am renting an apartment as it seems like the best option for the area I live in. I'd like to buy a house in my early 30s depending on how the market is doing, but honestly it's a little intimidating to own a house by myself without a significant other
@@Maiseymax696 You’re doing amazing-step 4 and no debt is a huge accomplishment, especially at your age: Buying a house solo can feel intimidating, but it’s absolutely doable if it aligns with your goals. Just start with a 2 bedroom house. Take your time, weigh your options, and trust the process. You’ve already proven you can handle big decisions!
I wish he still made content :/
I am sure after the passing of his wife it has been difficult for him
@@clarissaturcios2346 his wife passed?!?!?
@@frankweightlossjourneyhe seems like he’s lying
I am so damn frustrated with the baby steps. Or rather our context within it. It seems like we get debt free, start saving, and thousands of dollars in emergencies or medical bills hit. Murphy won’t get TF out of our house. I’m about ready to quit. 😢
Your delivery...........is beautiful........
But the fruit of the Spirit is love, joy, peace, longsuffering, kindness, goodness, faithfulness, gentleness, self-control. Against such there is no law.
Galatians 5:22-23
That other "famous" guy you mentioned, ..... Not so much.
Some good points, if you looked at my 401k you'd think I was far behind for a 34 year old. However, most of my "retirement" is in real estate, I have rentals with lots of equity and they cash flow. My low interest rate mortgages will be paid off by tenants when it's time for me to retire, so I can either reinvest with 1031s for more cash flow/deprecation or just sell. Dave would hate my current situation though, being in almost $1m debt, all of which is from mortgages, no other debt.
Where are you guys been missing your post lately
I am sure after the passing of his wife it has been difficult for him
@@clarissaturcios2346how do you know?
@clarissaturcios2346 where did you hear that from??
@@clarissaturcios2346where did you hear that from ?!
I watched the whole video, as a FPU kid, he’s right. I notice when I talk with other baby step 7 people, we all kind of feel the same way.
What does FPU stand for, please?
@@ALinn-vr3nl FInancial Peace University (Dave Ramsey's classes that teach people his baby steps for personal finance)
I think you may have missed the purpose of college, perhaps. It's not just for vocational training to make money. It's to learn how to think critically, how to communicate well, and to learn about ideas and the world's people and history. Anyone who doesn't have that exposure is missing out.
I'm getting the impression from watching a few of your videos that perhaps you got so sucked into Dave Ramsey's "laser focus" on money that you may have lost sight of other important things in life, such as family, a broader education, the ability to think critically about religion and religious organizations so that you can keep a healthy distance from religions and not get sucked in by religion, and to not get sucked in by Dave Ramsey or other influencers so much.
I'm glad you're demonstrating in this video that you do have the ability to question, including Dave Ramsey 's advice. I hope you will keep going with that critical thinking. Btw,ni think there is a fair amount of sense in Dave's advice on money, but it's important to think critically about everything, snd to customize or reject what we dont think is sound.
Thank you for your insights. Please keep them coming. Best wishes for you, your wonderful partner and baby.
Have you stopped making videos? Missed watching your videos.
I am sure after the passing of his wife it has been difficult for him
Fanstastic video as always, Jereme!
what do you edit with? how do you get your audio so loud?
He’s probably got a tiny mic up his shirt connected to his phone camera. Most RUclipsrs use tiny mics connected to their phone. It’s hidden in his collar.
where ya'll at??
I am sure after the passing of his wife things have been difficult for him
Sacrifice nothing, get nothing. Ramsey plan works. It’s a few years of sacrifice. Nothing but pure abundance on the other side of it. Baby step 7 and loving life.
Dave Ramsey's steps are for those who make a decent income. If you aren't in that category, then you will go too slow.
The thing that doesn’t add up is cash flowing everything. Most people don’t make enough to cash flow their life. The prices of food, education, medical, dental is very expensive. My house is paid off and now 20 years later I’m wanting to upgrade my baths and kitchen. So there goes my savings.
Miss you guys, hope you are all ok 😊
Great info bro
I bought my son a house on a farm. Not college debt
My hope is my boys will create their own businesses college is oit dated we homeschool them
Its a small sacrifice considering the benefits you receive for the rest of your life. Step 7 baby.
Unfortunately I think college is a necessary evil. That piece of paper is really important if you want to be competitive in the job market. My college-educated spouse earns way more than me as someone with a high school diploma. Thanks to compound interest you don't have to sock away much money every month to give your child a really good nest egg to use on whatever tertiary education they want to pursue. I agree with you that self-reliance and problem-solving skills are really important, but I'm planning to teach my future kids that in other ways. I'm going to get their education savings started early to ensure I give them the leg up I didn't have.
Incredibly charming video. Glad I had an open mind going into this one. lol. Dave Ramsey is not a demi God. He literally just gives money advice. I love him and it's changing my life, but I don't worship men. I study them and follow advice. That simple. You just have to become your own parent. It's called re parenting these days. Which is dumb. Just be your own grandma. That's the deal.
I was always proud of having a 800+ Fico score. I also worked around it. I skipped step 6 too.
Have you guys quit RUclips?
I want to know the same thing! I miss their videos.
Died
The "Running Start Program" is a great way for kids to get their first 2 years of college completed, for almost free.
What is that program, please?
@@ALinn-vr3nl The Running Start Program allows high school students to attend community college in their junior & senior years and receive both high school and college credits. You have to pay for books and transportation, tuition is free.
I feel like Jereme had good videos and presents on camera, but he's gone now. RUclips and insta. I hope you're okay.
These steps may not be for someone who is in their late 40s-50s, like me. I am trying to tackle all at the same time. It's just a matter of discipline. Also, with the student loan situation, a lot of people will just give up on paying it, as long as they tackle other debts.
Wait, you are 50 years old and still have consumer debt?
Your comment sounds sarcastic. Why it's surprising to you? Have you not known that there was a very large population of people over 50 have student loans debt? A lot of adults go to school when they already have jobs, families, mortgages, etc. They take online, part time classes. That is surprising to me that you were surprised you had people over 50 watching your channel.
@@victorianoel9784 50 years old is too close to retirement age of 65, so there is not enough time for compound interest to really work to save for retirement. Student loans is the most dangerous debt because even bankruptcy will not erase student loan debts.
It’s true ., it’s get hard if you really tight the belt and only eat rice and beans
His plan is not for everyone
Rice and beans was a metaphor per Dave Ramsey
If you said you weren't doing it to a 'T', which means that you weren't doing the plan
Just getting on a budget which I was never taught as it was not ourculture,spend,spend spend, was good enough for me. I'm always blown away by all who go against what Dave says but there's no data or number of people doing youll plan and creating MILLIONAIRES as proof as it works,Daves method is a proven so your advice is not for me sorry....
I thinks it’s funny cuz 3years ago you where praising it 😂😂
Sounds like you might be transitioning to leveraged investments?
No maybe he’s just buying real estate (rentals, land, etc) instead of the stock market. You can fund your retirement just fine without ever paying into government sponsored retirement accounts.
👍👍👍👍👍👍
Most people jump off after the debt paying part, the rest of it is dated garbage.
You should definitely not do Dave Ramsey if you want to remain poor and stay attached to your debt. Debt free and no credit score, what kind of weirdo wants that?
I’m not American and before I ever came across Dave Ramsey, I followed Martin Lewis's Uk blog moneysavingexpert and they had a community of people there in one of the discussions who were trying to pay off their mortgages, there was also a program on the bbc about people paying off their mortgages early. We were on a low income but chipped away at the term throwing everything at it and managed to pay it off in 11 years, luckily we had an emergency fund 3-6 months of expenses first because shortly after that we had a setback of a job loss. We were cushioned by our emergency fund and mortgage free with no other debt. I’ve always been a good saver but what helped me the most was implementing a zero based budget like Dave Ramsey suggests but I got a discounted YNAB licence and have been using it for years, it has gone subscription based now for new customers though I’d still recommend it. I also think that I’d prefer the avalanche method over the snowball as I am wise to the psychology of it. Here in Europe it’s necessary to have a credit card for car rentals on holidays, otherwise I use my debit card as we don’t have the great advantages Americans have with travel perks etc. investing here is more complicated too with taxes especially on a low income and I’ve yet to get my head around it. So I kind of did bits and bobs of Dave Ramsey's plan in a backwards and roundabout way. I do like how he has helped so many get out of debt and how he portrays millionaires as regular Joes. I do like to give to certain charities and my church and like that he encompasses that. It must be great to be a philanthropist. There are certain jobs that you do need a university degree though such as doctors, engineers, teachers, lawyers etc. but if your other investments in real estate work out as you say, that could help. I have a degree which I went to uni for but some of the best things I learned for free were from coursera, I did two great ones in psychology. Travel is a great education too.
THE THING THAT MOST OR MAJORITY OF PEOPLE WHO CAN'T GET AHEAD OF THEIR FINANCES BIGGEST MISTAKE & ISSUE IS THEY "CAN'T LIVE ACCORDING TO THEIR MEANS". PEOPLE WHO CAN'T HAVE THE WILL POWER TO ONLY SPEND WHAT THEY CAN AFFORD CAN'T GET AHEAD OF THEIR BILLS. ONCE YOU DEVELOP TEMPERANCE & MORTIFICATION, HAVING STRENGTH NOT TO SPEND OR BUY WHEN YOU KNOW YOU CAN"T AFFORD TO EVEN PAY YOUR BILLS. IF YOU ARE LIVING PAY CHECK TO PAY CHECK THEN YOU LIKELY NEED TO GET ANOTHER 2ND JOB, GET A RAISE, WORK LONGER HOURS ETC...IF THERE IS A WILL THERE IS A WAY. YES, IT ISN'T ALWAYS EASY TO GET THAT DONE BUT YOU HAVE THAT CHOICE IF YOU REALLY WANT TO GET BETTER IN YOUR FINANCES. GIVING UP SOME LUXURIES IS SOMETIMES NECESSARY TO SAVE MORE MONEY! HARD WORK & SOME SACRIFICES ARE THINGS WE AS A SOCIETY NEED TO STOP FROWNING ON. LIFE IS NOT EASY & UPS & DOWNS ARE PART OF IT. IT"S HOW YOU CHOOSE TO HANDLE THOSE BUMPS IN THE ROAD OF LIFE MATTERS. God Bless :)