How to Take Control of Your Money! | Ep. 1 | The Best of The Ramsey Show
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- Опубликовано: 4 фев 2025
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The 7 Baby Steps Explained 00:48
Why Can't I Use Credit Cards If I Pay Them Off Every Month? 8:04
This Baby Step SHOULD Scare You! 15:26
A Message to Broke People - Dave Ramsey Rant 24:26
How Much Should REALLY Be In Our Emergency Fund? 29:27
Stop Asking Me This Question! (Just Shut Up And Do It!) 35:58
A progressive tax system is the bedrock of a functioning democracy .
By hufg GT
I so much love this show. Please, I am kind of confused regarding emergency fund($1000) in one month. Hmmm. can we get this in Nigeria where a lot earn between $200 to $400 monthly or so. Please, how can this category of people fully participate to build wealth?
@@asiegbuchukwuemeka3473 Great question!
Made me smile when you said Rice and Beans (not beans and rice) 😅
At its core, financial management is the practice of making a business plan and then ensuring all departments stay on track.
Solid financial management enables the CFO or VP of finance to provide data that supports creation of a long-range vision.
Exactly how Timothy Eric Meek always reminds me to make decisions on where to invest, and yields insights on how to fund those investments, liquidity, profitability, cash runway and more.
In business, financial management is the practice of handling a company’s finances in a way that allows it to be successful and compliant with regulations.
According to Timothy Eric Meek, By integrating these key components, a financial management system ensures real-time visibility into the financial state of a company while facilitating day-to-day operations, like period-end close processes.
I will be glad to know how i can reach him as soon as possible
I'm debt free,home owner and graduated college without a student loan because of Dave❤️from🇯🇲
👏🏼👏🏼👏🏼👏🏼👏🏼Good job🤩
You probably stole it.
👏🏽👏🏽👏🏽
@@joshjosh575 don’t hate
Awesome! Good job!
I was $106,000 in debt in 2020. I am now $60,000 in 2024. Plan to finish by December this year or sooner.
Awesome, you got this!!
killin it!
You got this!!
good stuff
Good job
I recently turned 22. So far, I've been living way above my means, and I'm tired of all the anxiety and distress my current financial situation is causing. I found about this show today and am hoping to make substantial gains over the years that follow. Wish me luck!
I wish they taught investing at school level. There is so much advantage to doing this!
My biggest regret is that I started so late.
My concern is whether I can continue to sustain my standard of living with $550k and avoid outliving my savings. Every withdrawal makes me a bit unsettled
@@ClemonSteve I'm approaching retirement and having a financial advisor has been helpful. I started investing later than most, so relying on compound interest from Etf's or bonds alone wasn’t enough for me. Despite that, I’ve managed to do well and am on track to retire with around $2 million
@@MichaelGabreil I'm currently evaluating my portfolio and could use some guidance. How can I get in touch with your advisor?
@@ClemonSteve I usually avoid making specific recommendations because everyone's situation is unique. However, my experience with Julie Ann Lerch has been quite positive. You might find it worthwhile to see if her approach fits your needs
@@MichaelGabreil looked for the name online and found her page.I will get in touch with her,Thanks for the help
I emailed and made inquiries. Thanks for the help
There's a book called Hidden Time Wealth, and it talks about how using some secret techniques, you can overcome procrastination and accomplish anything in life. It's not just a bunch of empty promises; it's the real deal.
I looked it up and can’t find it
I’m 31 now. And this is the moment I begin making smarter financial decisions. I’m so beyond pissed off at myself for allowing this to happen. Inflation or now no excuse for not improving myself! You can too I hope this comment inspires someone too!
❤
So what differences have you made in your financial decisions in the last 4 months?
My daughter worked through school, went to a community college and lived at home. She graduated debt free
She could gotten scholarship
Smart young woman👏🏼👏🏼👏🏼👏🏼👏🏼👏🏼
🎉
@@KevinMitchellsubscribe u missed the whole point
@@KevinMitchellsubscribe that's not easy to get even if you have good grades. That's a big maybe and it's unrealistic to think it's that easy.
I am 73 yrs old, house paid off years ago. No debt. Cars paid off. 300K in savings. Snowbirds in the winter. Good retirement income. I followed Ramseys philosophy back in the day when it was called common sense. I consider myself lucky. Ramsey’s advice in all things financial is spot on.
That's great! I'm 42 and work for my state government. I have about 17 years to go to get the pension and health insurance for life. What I don't have is much in investments. My wife and I finally got around to mutual funds but I can only put so much in there. We're banking a lot on selling the house and with that moving somewhere more affordable and living a much simpler life. I hope I'm where you're at by 73!
I found "The Total Money Makeover" for $1 at a thrift shop!! Best dollar i have ever spent! I am doing baby step 2. 12 months from now, i will be debt free! I can't wait!! I will be a millionaire!! Much love from NC.
That is awesome someone donated that!!!!!!
Theres a reason it was at the thrift shop. LOL.
Who needs Ramsey book. When all the info is on his Podcast. Lol
Allegedly who and what you listen to is what you become.
I can listen to this channel every day.
That's RIGHT 🎉
Don’t forget the Bible comes first
Amen
Both my sons went to college on a full ride playing sports and it was by me training them and keeping them out the streets and now they are 25 and 30 and I am so happy I was there for them all the step of the way! They both are out my apt and they both have their own place and jobs! Now I am trying to get them to listen to Dave 😂😂
Main reason why fathers are needed brother! Love to see it!
Your commitment to educating your audience is truly admirable. We all aspire to attain financial stability and improve our lives. This goal can be achieved through smart investments, mindful spending, and prudent budgeting. I'm thankful for realizing the significance of striving for financial freedom from a young age.
Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.
I wholeheartedly concur, which is why I opt to entrust the day-to-day decision-making to an investing coach. With their specialized knowledge and extensive research, it is highly unlikely for them to underperform. Their expertise is centered around harnessing the asymmetrical potential of risks while also employing measures to safeguard against unfavorable outcomes. I have been collaborating with an investment coach for more than two years
Mind if I ask you to recommend this particular coach you using their service?
Rebecca Nassar Dunne maintains an online presence that can be easily found through a simple search of her name on the internet.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you.
I'm on baby step one. But you have to start somewhere. I struggled with addiction for years so when I got credit and had a little money I went into debt bad! I am working extra hours picked up another job and I'm determined to make this happen!
I just wanted to say congrats on your sobriety! ❤ Keep staying strong and you will get there! 🙏🏻
Hey man !!!!!! You got this Thanks for sharing
Awesome! Where are you now? I’m also on baby step one!
Amazing, you are definitely on the right track and you’ll get there soon! ❤️
Good fricken job!! You got this Liv!
I graduated nursing school with $34k in loans at 21 years old. Lived with my parents for the next year, worked OT saved almost every penny. It then took my soul to drop $34k at once on loans but it was so worth it!
This world is full of organizations that know how to fool people who do not know. I like Dave’s passion of avoiding debt! Cash is king!
The king lost 15% of his value this year. Use other people's money
@@BulletbckWA Dave tells us not to borrow other peoples' money.💰
@@BulletbckWAWhere did he say to stuff the mattress with cash
@@BulletbckWAdoesn’t matter, he’s always got his fund and zero debt to sink him. Doesn’t matter what the economy does🤷♂️
@@marshallwise3605es try do t ryy; 😅 settle eg get 🎉 even t yo good advice ufxq asst da d see ztsw❤ two d❤
One thing not explained is that it takes discipline and time. Most people don’t like hard work and pain. I’m so glad I found him. So many times I wanted to give up. I’m so glad I didn’t
He does explain it will take discipline when I'm listening to Him.
today I decided that I don't want to live paycheck to paycheck anymore. this is the second video of you that I watched. writing notes and going to start doing something about it. Im putting baby step number one in the works as soon as I get paid. no more than 30 days. im going to build up that 1k and after that I will be unstoppable!!!!! thank you for these vids. can't wait to listen to more!!!
Yes, keep your head down and work hard on it now, congrats on good move
34 and on baby step one! We got this!
Best feeling when you don’t have to live paycheck to paycheck. That’s a great start to have some in your savings each month
Good I hope everything works out for you
You can do it!
My wife went to Ivey tech for a 2 year degree to be a dental hygienist, she was only given so much in finiacial aide and owes about 13k. Finiacial aid will only cover you as long as you take the required amount of classes during that semester and by her doing that she wouldn't have been able to work. It's a really flawed system, but we are tackling the debt now and should have in done by the end of the year!
And then, colleges/universities want you to take classes totally unrelated to your profession!😡
I asked my college, why? The answer, to make me a well rounded person. 🤢🤢🤮🤮🤮 I can take that money and go on trips to make me a well rounded person.
Greed!!
Totally understand what you're saying, Captain. I graduated with a BS debt free, but graduated physical therapy graduate school 4 years later with close to $100k in debt...assinine
Start with your kid the day they are born. Every month put $25 in some sort of investment getting ~8%. Do so until they start working at which they take over. At age 72 they will have $1 Million in the Bank. They repeat the same rate for their child. Pass the inheritance money on to them and they will have $12M in the bank at age 72. Repeat for the grandchild and they will have $140M in the Bank at age 72.
Safest approach i feel to tackle it 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. its important to seek the guidance of an expert
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. God's blessings on you.
@@alexyoung3126 I think you miss the point he was trying to make. He said some sort of investment. Diversification comes with accumulation in stages.
Forget them kids man 😂 instead just teach them
I look up to my dad because my dad is always saving and always paying off the debts as quick as possible. He payed off his house in 5 years he payed of a truck that was 12,000 in about 2-5 months. He is the only one that works, we are a family of five. to me the fact that he can pay off what he owns in a a little time frame is shocking.
did your dad invest in anything? did he flip stuff how did he do it?
That's amazing ❤❤
He must hv a good salary
Saw this episode maybe 10 months ago, and it was a big part of me getting my affairs in order and paying off $23k in debt this year. 50k to go now and then debt freedom
Such valuable information! I cannot scream loud enough how important it is to not have any debt. It really does bring you a lot of peace, and you don't worry about any "boombie" that life throws at you
I learned something new today. Emergency has purpose things unpredicted, job transition, car replacement, healthcare incase got sick or disabled etc. Thank you, David... the more I listen to your podcast, the more I learned about l money worth and values. ❤❤👏👏👏
Love the "savings" account description. I've been dumping a fair bit into a future house/car/appliance repair fund for a while and I don't really consider it an "emergency" fund but that's basically what it is. The heat pump will eventually blow up. The roof will need to get replaced. Trying to estimate how much that will actually cost and when is the problem.
Nice video. Could you share insights on generating profits in Bitcoin or Forex investments? I've been experiencing consistent loses in my account.
It's wise to seek professional guidance when building a strong financial portfolio due to its complexity.
Talking to an expert like Michelle Brown to reshape your portfolio is a smart move.
Certainly! I diversified my $20,000 portfolio across different markets
I made a net profit of around $97k by investing in high dividend yield stocks, ETFs, and equity.
I was introduced to Michelle Brown by my wife's brother a year ago, ever since then my life has changed
My grandma would never think I needed therapy for being frugal. She grew up in the Great Depression. I could turn all the lights out for the next month and she would probably sigh in relief and feel peace.
That was me last year and my husband and I worked very hard to pay off our $60k debt last year and now i am proud to say that I am in step 3 and are very excited to complete step 3 to get to step 4.
anyone else want to see a podcast with Dave and rich dad poor dad? - that would be a fun time
Im 23, going into 25' with 15k in debt. 12k of which is a car loan and the rest CC debt. Ive got my 1k rainy day fund set aside and pushing towards zero CC debt. I want to be financially free by my 30s. Gonna strive hard to get there🙏
I wish I would have known about you 3 years ago because I overspend and got myself into financial trouble but got determined to get out of debt within a year and I did and now I am on step 2 and 3 and looking forward to learning more from you and my financial goals.
I wish that more people went on the Dave Ramsey plan. I’m ready to start.
The way Hidden Time Wealth dives into the concept of productivity is mind-blowing. Hidden Time Wealth tips are pure gold, and I wish more people knew about them.
I'm just getting out of debt and am looking to build my wealth now hopefully watching this will help.
Two thumbs way up!! I have encouraged my kids (young adults) to follow (they do) your plan, Dave. Thank you from New Zealand
Oh I went to college with loans and I didn’t even finish. I make decent money and not afraid of work. My kids are not going to college if they don’t want to, but definitely gonna help pay for it or have them work and pay for it themselves. I have 24k in loans for NOTHING. I definitely don’t want that for them.
If someone is actual college material, they can get scholarships and grants. There are billions in scholarships that go unclaimed every year. That's what I did. There are academic scholarships and need-based scholarships. I was poor, but got excellent grades, so that was a double plus for getting aid.
If someone isn't college material, they'd be better off learning a trade. You can make a six-figure income as a plumber or electrician.
Part of the dave ramsey plan is saving up for your kids' college
So because you were irresponsible and took on loans, but once you did you DIDNT EVEN FINISH and it was likely a useless degree choice anyways..... so it's now your kids problem and they are on their own huh??? 😂😂
@@mrdark9916 well if I wanted to stay home instead of getting kicked out without a job, I had to go to college, I was forced to by my parents, didn’t have much choice at the time. Definitely would go back and just move out and get a job if I could, I’d have a much better life then I have now.
Thank You So Much I Appreciate Your Help And Wisdom I AM DEBT FREE AND HAVE A 6 MONTHS EMERGENCY FUND SO FAR I WANT A 2 YEARS BUFFER
It crazy to me that theirs people who make 150k plus a year and have 60k in debt and they can’t figure out how to pay it off.
That’s a lot of nights out and expensive restaurants
It's purely psychological. You end up trying to defend your ego that's promised the world to kids and family and friends etc and it becomes tricky to untangle yourself
I just saw a documentary with Dave Ramsey in it titled "Maxed Out" from 2006. I would love to hear Dave's thoughts on things talked about and discussed in that documentary in light of where we are now in 2023 in regards to the credit crisis. If someone from The Ramsey Show reads this, can you all dedicate a show to doing this, I would love to hear Dave's thoughts and any updated statistics he can share to highlight how vastly different things have changed.
I have a cash back rewards card that I pay for everything I can with... and never carry a balance at the end of the month. I've never paid any interest on it and I get $500 or so of free money each year. I've been doing this for more than a decade now. I suppose the objection to doing this is that most people aren't that disciplined and end up letting it snowball on them... which can happen quickly with the insane interest rates... and I suppose at the end of the day maybe that risk is not worth the menial rewards you get back.
Some people are diligent and it does work for them.
IKR. But along with other outdated notions, Ramsey knows his audience. They are the exact opposite of: self control, responsibility, ability to discern want and need etc.
Wholeheartedly agree! We weren't disciplined until we bought a business. Being in the auto repair business & rural, you cannot conduct business without a card. Period. How rural? 100 miles from the closest stoplight, McDonald's & Walmart. Anyhow, we use our airline cards, pay them off every month. It's worked out so far 😊
what I got from his objection is the mindset that it is free money to go on vacation with when people should be saving. the tickets might be free, but they are spending money on vacation that they should otherwise be using to build themselves up.
Keep dping it it that is what you are doing.
I love how you take your time to educate your viewers we all strive towards financial stability and a better Life. It is easy to achieve this through the right investment, by living frugally and budgeting. I'm grade I learnt early in life to work hard for financial freedom
Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.
Considering the prevailing economic climate, I recommend seeking a mentor or a knowledgeable advisor who can provide guidance and support.
I have been contemplating pursuing that approach myself. I currently hold a substantial number of stocks, but their value has begun to decline, leaving me uncertain about whether to hold onto them or sell.
I wholeheartedly concur, which is why I opt to entrust the day-to-day decision-making to an investing coach. With their specialized knowledge and extensive research, it is highly unlikely for them to underperform. Their expertise is centered around harnessing the asymmetrical potential of risks while also employing measures to safeguard against unfavorable outcomes. I have been collaborating with an investment coach for more than two years
Interesting, I could really use the expertise of this advisors, who's the person guiding you?
Thank you for making this point. My mom (she adopted me) came from another country but handled money better then my dad ever did. He drowned himself to debt until the day he passed which he passed almost a year ago coming up in October. I plan to teach my children things I had to learn on my own like creating a budget, how to avoid credit cards or keep low balances. And everything you've said to teach them. Because I wouldn't want my children in debt growing into their adult hoods like I was. My father sadly used my identity while he abused alcohol and it took me until my mid 20s to pay that 10k off.
I can happily say I have a savings account for emergencies, one for Black Friday sales, and now one for a new car
wait what? black Friday is the "emergency"?
@@haasan9360 I never said Black Friday sale is an emergency, I said I have a savings account for emergencies, one for Black Friday sales and one a new car. I think it best you listen from 34.09 minutes on the video. I have have different savings accounts for different things not necessarily to do with emergencies. Not saving for Black Friday or Christmas can mess up your budget, so that's why I start saving for it beginning of the year
@@matshidisomatlapeng6395 I use to have a holiday account with BofA. They closed it after a few years. I don’t think it was in their best interest to keep people debt free.
The concept of Hidden Time Wealth blew my mind. It’s like finding a cheat code for productivity and defeating procrastination.
Taking early notes as to the importance of sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $600K for sometime now, I would greatly appreciate any other suggestions as i'm 3 years away from retirement.
Each strategy carries its own set of pros and cons and picking the right one depends on your specific financial goals, but in order to execute such effective decisions, it must be through a skilled practitioner.
Iv been watching Dave Ramsey for just a week now. Im so motivated to tranform my life, wish I came across Dave’s baby steps earlier on in life. Im 28 years old, having a baby this month and I am determined I can become a millionare by 35 if I follow Dave plan and implement the many business ideas I have. Thank you Dave, hope we follow these ideas as South Africans as our country is pretty bad economically right now we gotta save ourselves 😊
Don’t get into debt for your many business ideas.
"Put the kids on craigslist."
I like his way of thinking.
Wait, you can do that?!
Don't have them in the first place.
@@Elizabeth-yg2mg
Wow. You don't sound like somebody I'd want to have as a mother
@@miss_sunshine25 Who cares? I don't want kids.
@@Elizabeth-yg2mg
Everyone cares:
Demographics are old = economy goes down.
Government takes care of kids and their parents first to fix economy.
Elderly sacrificed to pandemic without their kids supervision.
Hi Dave, I got 33k in 0% credit card debt and put the 33k in 5-7% savings. i’m making almost £200 a month. I used it to pay my student loan off so I’m winning maaaaan
What really baffles me...some are high income earners and yet they have such big debt?! 🤯
Living beyond their means...it's either you within them or living beyond them. It's that simple.
Lifestyle inflation
I came to say this. It baffles me. Really shows the need for governors on spending habits like tithing and budgets.
It’s really simple. People suck at managing money. Want to show off status, but don’t realize no one cares.
It don't máster how much comes in. What matters is what goes out
Planning ahead can really minimize taxes! I've made a smart reinvestments, especially with some great guidance from a pro for a half year now, and it's been a game changer. I was able to reinvest my RMD strategically, and I'm now pulling in about $25k a week, despite doing very little trading myself. It's a nice cushion against financial stress. Best of luck with your RMD decisions!
Currently I'm just being smart and frugal with my money, I'm in the green 47% over the last 15 months and l've accumulated over $700K in pure profits from DCA’ing into stocks, ETFs, dividends and futures. However I’ve been in the red for a month now. I work hard for my money, so investing is making me a nervous sad wreck. I don’t know if I should sell everything, sit and just wait.
Nobody knows anything you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
@@devereauxjnr I agree, that's the more reason I prefer my day to day invt decisions being guided by a fin-advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a fin-advisor for over 2years+ and I've netted over 2.8million.
@@AlbertGReene-p8w I actually subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your coach?
@@OttoLane-j9z My advisor is NICOLE DESIREE SIMON , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@AlbertGReene-p8w She appears to be a true authority in her profession. I looked her up online and found her website, which I browsed and went through to learn more about her credentials, academic background, and career. She owes me a fiduciary duty to act in my best interests. I set up an appointment to use her services.
This was best explanation for the only having $1000 emergency fund I have heard. Thank you
- Budget money
- Get out of debt
- Foster high quality relationships
- Save and invest
- Be generous
Hidden Time Wealth is so unique. I can’t believe I hadn’t heard about it sooner. It’s amazing how life-changing this can be for anyone battling procrastination.
I came here in the US on 2006 from Asia with 600$ in my pocket. Extremely frugal living. Saved cash .
In two years 2008- was approved for mortgage.
Signed for 30 years.
Continued frugal living until now. Kept on adding more every month of my mortgage- if I had bonus at work I would prioritize adding to my mortgage- if I had tax rebates I would add to my mortgage. Refinanced and studied how refinancing works. Listened to David- and many legit influential people about financing and took notes.
Instead of 30 years- I will be finishing my mortgage in 2 years( which is 17 years instead of 30 years paying.)
Secret? Frugal living
You should’ve went back home and live like a king 17 years of mortgage is a scam especially in a deteriorating country like USA
@@6feet6figures unfortunately- in my country- ive been there for 35v years and could not even get a small house. I did it here. 17 years is not a scam. Its diligence
Ramsey is one of the very few reputable financial literature spokesman
Love this!!! Please never stop making these 😍
When it comes to credit cards I’ve been taught, treat them like they are debit cards, don’t ever spend money you don’t currently have, you can gain your points or whatever, but it also helps build credit a little especially when you’re like me in your early twenties
Most people will try to get something out of you before they give you something
Dave just want to help you get out of debt and stay away from debt, ever since I start listing to Dave I pay off my 16k car payment in a year. I will never get into debt again, honestly I’m planning to saving up and buy a house instead of getting a mortgage at this point
If you have the income power, that's good. But a house is on a different scale than the 16k debt especially in this property bubble price thing
You might want to work up to the house. I started by buying a used mobile home and renting a lot. The next step would be to buy property and put the mobile home on it. After that, you can build a house in stages as you can afford it. There is a huge home on Hwy. 17 just outside Vanceboro, NC that was built in stages over a number of years. The people never went into debt and just did what they could afford. Now they have what appears to be a mansion compared to other homes in the area.
I am debt free, bachelors degree, six figure job, 24 years old, 50k in the stock market, and just getting started.
No one ever said you will get rich over points or cash back. That's a straw man argument.
Eating out is definitely my problem. I see I'm not alone.
I love watching the best playlist all in one episode! Do more please!!!! 💕
im starting to take care of my money, and this just hit all the cores
IF …. you’re able to get your spouse on board. Let me tell you, it’s not possible without you both being on board. Super frustrating.
Yeah man it’s so difficult
Let me tell you all something. I am an HR manager. When someone comes for a raise the first thing we ask is “are you getting your full match” because that’s part of their compensation. I don’t care what these guys say. GET YOUR MATCH.
I work in education and I strongly feel this is the stuff they need to be teaching in high school. My son is in 9th grade and he’s taking algebra 1. 40 years ago when I was in 9th grade I took algebra 1. The world has changed SO much in 40 years but they are still teaching algebra 1 in 9th grade and guess what. In 40 years I have NEVER used anything I learned in algebra and neither will my son or 95% of the other kids taking it. They need to teach kids about how to budget. Teach them about finances and investing. Teach them about the stock market. Most people don’t know anything about this stuff and think they can just borrow the money. I have never and never will have credit card debt bc if I can’t afford something I don’t buy it but the majority of people don’t think that way.
Yes let's just stop teaching maths cause nobody in finance needs to use it
The dumbing down of America. It’s being done on purpose.
i’m 19, have a 700$ car payment (oops, long story) i’m working on getting my finances under control im listening to all the information you put out i wanna learn everything. im dead set on investing in real estate and becoming a landlord/property owner renter
So, how do you create sinking funds effectively? Especially when it comes to inflation, etc? Do you still put it in one big accout, do you have multiple accounts? Do you take it out in cash?
“Self-awareness is part of the process” applies to many areas of life, one that stands out is drug addiction. The average addict has a palpable lack of willingness to look at themselves from the 3rd person and acknowledge how they set themselves up for failure with every decision. The quote I used above is a precise display of a mentality that could be very beneficial to hundreds of millions worldwide.
I love Dave and he gives a ton of good advice but the one thing I will never understand is his advice for not using CCs at all. Yes if you are prone to overspending and carrying a balance you should not have them. And maybe to the older generation it causes them to spend more cause they think its not their money. However, for me and my wife we are more careful with CC transactions because everything is automatically logged into our budget. Cash transactions are not. Furthermore, if you think of CCs as your money and just use it like a debit card it is no different. No you will not get rich with them. But having $30-50 every month to spend on something you needed and not have to pay for it is great. It is not you that is secretly paying for it, rather the fees that the merchants have to pay to the CC company for accepting their CC.
Almost everyone has zero self control. You are in the minority if you have it.
@@tnmtnmorning1178 Maybe for you, but for me spending with plastic is a lot more painful than cash.
If you are so disciplined why are you listening to Dave in the first place you should already be debt free.
@@LegendaryLeo_GG Dave’s advice isn’t limited to just getting debt-free..
@@LegendaryLeo_GG Dave is one of the few entertaining Americans on the planet.
“Grab you some Popcorn, maybe some rice & beans” 😂😂😂 Iykyk.
IF you pay off your CC statement every month, you aren’t losing anything. The trick is to pay them off.
If you pay your credit card at the end of the month, it’s like you actually have one month loan from the bank and you get the credit card benefits too. It’s a good deal 4:39 if you ask me, just make sure you let make sure you pay off your credit card at the end of the month, so don’t get those late fees on Extra charges and all that shit.
Pay it off and also stay inside your budget to begin with.
I’m just going to be funny about “the bass boat”: Mr. Dave made it clear the emergency fund is not “for the bass boat”. The first thing that popped into my mind was, “the bass boat could be a weekend transitional fund item”!! I don’t even like boats, but I do love log cabins in the mountains as a “transitional fund item”!! 😂
I think the one thing Dave Ramsey misunderstands about the points is this. He's right when he says you get only $200 back in points if you spend $10,000. Thats sounds ridiculous if you are just spending money for the sake of points. But most people dont do this. They end up spending that money anyways for their needs. The points we get are just by-product of the money we would have spent, with or without credit cards. I'm talking about people who pay off their credit cards every month.
@@EagleSpireGamingexactly the points are irrelevant when you trying to get the credit score in order
Actually most people do the opposite.. that’s why American are in so much debt. Credit card causes you to spend more than you would otherwise. So yes they are using it to pay bills and then some. And they justify the additional spending as “oh I’m getting points”. just stay away from credit cards
I am a statement by statement payer and pay NO interest but I will say this, I am ready for the freedom of being beyond that and not biting my nails everytime I go over my budget.
I pay off my credit cards every month like this only doing groceries. But what hit for me is when Dave talked about buying things for the points and would you have spent as much if you didn't have the credit card? And the answer for me is sometimes. There are times when I didn't have money in the bank account for groceries so on my credit card they went. But that's a $200 shopping trip I didn't have to take. I've tried a couple no spend challenges and when you can't spend you get creative. You find the hidden soup cans in your pantry, you make new recipes, you make it work. I can't say how many extra grocery trips I've taken when I didn't need to. I started with 3 credit cards and have since cut one up. It hurts, but I plan on cutting up a second one soon too. Hopefully no credit cards in the future
😂 Mann. This is good! This is all just common sense. It’s just so rare!!!
I love when Rachel is Dave’s co-host. They just are great to listen to together. I feel like she kinda pushes Dave to get extra fired up.
She is one of my favs too :)
She rolls her eyes when he starts his rants! I love it
😂😂Dave a comedian. He’s funny
The hardest obstacle for me is my wife. She is the one who always wants to go out to eat, wants to buy expensive purses, drive a nice car, go on a financed vacation. When I was single I would eat top ramen everyday and save money like a hoarder. I've recently been trying to get her to come around. I think the wheels are now turning. It's hard to say no to her however.
That's a hilarious excuse! "Well, Dave Ramsey isn't sophisticated." Lol! Well, I'm not sophisticated either. Dave is an honest-to-goodness real person, like me, and he just found something that worked.
@TheRamseyShow-Highlights do you know this person?👆
Dave’s advise is for people like me. People who don’t carry a balance and can control themselves… me unfortunately I can’t. Hoping to be debt free in 2 years.
They skirted the issue on the 2% cash back.
Ex: I have to put Gas in my car I use a credit card because I can get 5% back.
My cards are all paid every month.
I am retired and disabled and I've been disabled for 20 years. I've learned to live on nothing and I get anywhere from 200 to $400 a year cash back on what I needed to spend anyway.
I don't spend more just because it's a credit card.
I agree with Dave on just about everything else and I believe most people don't have the discipline they need with credit cards.
But I think there are some exceptions to that rule They may be very few but there are some exceptions
That cash back is not free money. You're spending much more than that each year in transaction fees. Find businesses that offer cash discount or charge the transaction fee separate, and you'll soon see that the card companies never lose money. It's wrong to think you're getting something over on the card company.
“Student loan been around so long you think it’s a pet.” Well, wow!!😂 That’s me!😭😭😭
"Put the kids on craigslist" 3:40 . So, I did.
Oh no, kids on Craigslist
I'm not the only one that heard that. He didn't release a chuckle and that worries me
Fantastic advice apart from 39:30 no you don’t need to eat less but on the contrary more, but you need to change what you eat, think caloric density….
If you eat half your plate with non starchy vegetables, salads and a quarter of starchy vegetables like rice 😜 potatoes etc and the rest often the quarter with high protein like Beans😆 further maximum 10% of your daily calories should come from Fat and that is healthy fats like Avocado, Nuts and Seeds, then the weight will come right down. Avoid all high fats (oils) and processed crap. Your welcome
Dave i need a bass boat so I'm able to focus on making more money
I need the latest flagship Mathews for the same reason
Well, Im glad to find out that the algorithm connects me with a Southerner. I usually get connected with someone or something that sounds like their from a third-world country.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@lennoxmutterick6434 However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@DanielMose-s7e Oh please I’d love that. Thanks!
@@lennoxmutterick6434 Clementina Abate Russo is her name
Lookup with her name on the webpage.
Empowered by financial knowledge, I'm reclaiming my monetary destiny, eager to shatter the myth that six-figure gains are exclusive to elite investors, and determined to unlock the secrets of rapid wealth creation, one strategic investment at a time.
Proper research, good analysis and luck is what you need to make profit in this constant market decline. It's all about finding the right moment to take advantage of and generate colossal profit, which is why you need to do your research
This is precisely why I like having a portfolio coach guide my day-to-day market decisions. With their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach you using their service?
'Sonya Lee Mitchell' maintains an online presence. Just make a simple search for her name online.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
I have to say it terrifies me to start tackling debt without a built emergency fund
It will terrify you more if it’s rain really hard and you realize in reality you have no emergency fund anyway, because it’s zeroed by debt.
You just have an illusion glasses right now.
Me too. I have 4k saved and I have a car payment that ends in August 2025. I cannot imagine spending my only savings on that 😢
I've noticed that debt is like an addiction. If you never start getting debt, then you'll never have a debt problem. The only exception really is a mortgage if it makes sense.
loved this specific episode
Ok. It was fun for some of the time . I think the steps to become millionaire are pretty good and everyone should consider them. But the help to callers is just on the level of tv fortune tellers.
Discovering Hidden Time Wealth has been one of the best things I've done for my productivity. It feels like I’ve finally cracked the code to overcoming procrastination.
The % cash back card is not to “get rich”. It’s to get a little something back on things you need regardless. A responsible person should still be able to carry a zero balance and stay within their budget without spending more just because you have a line of credit.
Exactly! They totally glossed over that. Thanks for pointing this out!
If you’re just paying majority of your bills with it and gas etc, it’s totally fine. At least I’m getting some type of return over time versus just nothing. I have to pay those bills anyway so why not make some cents or dollars off of it.
This is what I was thinking as well when they dookied on that lady's question. I also don't think a person should work themselves to the bone with no self indulgence whatsoever because someone like me would spiral into depression. Which feeds the cycle of debt.
We sold our house paid off all debt (mortgage and car and personal loan for buisness). We moved into a small home (500 square foot) that my husband built. Now we are debt free and saving like crazy to build a house debt free.
Just gota be more organized. Write stuff down, put it on a board in your home. Focus on it and continue to build
Hello Dave. It is simple and powerful your motto, "Live on a budget."
It’s true what he says, people really do pay for common sense