I used to do some thing before I knew Ramsay existed and it worked great but since I got married we don't agree on anything financially and we make just enough money to live minimal and when I say minimal, I mean basic necessities and we never have enough to save and when we do have surplus the cost of living always goes up and we're back at square one, it drives me nuts but my husband doesn't care either way. I am 45 and I have been taking care of my grandparents and the reality of getting old is hitting me hard and I very much desire to make savings and retirement a priority because we're not getting any younger and long term care is expensive!
Today I paid off my house mortgage. I am officially debt free and on baby step 7! I am just ready to save/invest, enjoy and give. So excited about it. Thank you Dave for your teachings, so grateful. God bless you 🙏👍 BTW I am 45 years old! 🤩 and do not live in America 🇺🇸 but in a third world country 🇭🇳 😁 if I did it then we all can do it 💪
You are never debt free. Now you have to pay property tax for the rest of your life and utilities and food etc. You will never be deft free in America 🇺🇸
I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k
Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.
Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and am interested in investing in stocks, and I'm seeking guidance.
1. $1000 emergency fund 2. Get out of debt (except mortgage) 3. Save 3 - 6 months of expenses fully funded emergency fund 4. Invest 15% (start Roth, then IRA, then 401K, ) 5. Save for children’s college funds 6. Pay off mortgage (should take 5-8 years) 7. Build wealth & Give Outrageously
I live in Argentina. To be in debt here is very rare, so I find these videos quite interesting. This is how it would result the baby steps in here: 1. Done. We live under emergency 2. Done. Interest rates are so high that only a lunatic would take a loan. 3. Done. Here is like living a pandemic every 4 years. 4. We have public retirement. But better to make investments,. this is THE challenge here. 5. Done. College is free here. 6. Nobody access to home loans. Unfortunately, Not an issue. 7. Wealth here is called “BBQ with family and friends”
@@pabloalvigini9823 I agree I live in Brazil (American) and it is the same here. There is no debt, loans etc. Everything my family does is through cash. My Brazilian wife built a senior retirement complex for my 96 year old Brazilian 2nd. mother and her mentally challenged uncle. Thinking ahead We also have a third house for our live-in caretaker and her family. When my wife and I (50's, 60's) get older we already have our (All one floor, no falling down the steps) retirement home set up. 😎
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
The s&p 500 and the msci world etf have constantly outdone about 99% of traders. If trading is not your job and even then I would advise you to do what warren buffet tells his wife to do after his death. 90% into low cost s&p 500 index fund 10% into short term government bonds.
If it’s sitting in a savings account right now split it in to 3 equal sized HYS that’s protected up to 200k, any of them goes bankrupt you keep the money, and currently they are usually 3.5-5.5% growth, this is taxable money though, if you want untaxed money you can do FEDERAL bonds, slightly higher return but your money is not liquid. If you wanna make the most money with a small risk just put it in s&p 500, generally 8-12% growth but there is a possibility of it crashing, it’s not likely but it can happen
Always good to invest in stocks whenever you can if it's not a very price stable stock and it's high risk then only put the money in your willing to lose but remember you never truly loose your money until you sale your stocks on that position you can always wait with the same position until price goes back up
I took the course about 15 years ago. I had debt, no car, no emergency fund and bad credit. Baby steps. I followed it. Worked three jobs. Cut expenses. Today, I have 6 months emergency fund. No debt. Car paid for. 800+ credit rating. If you work it, it works.
Proud to announce that as of yesterday IM DEBT FREEE! This channel over these past two years has been such an inspiration and a rock steady lighthouse through so many storms, i just wanted to say thank you to the Dave Ramsey team and community for all the wisdom advice and support everyone has shown in helping people build better lives. Y'all are the best.
I was never taught personal finance growing up. I was told to go to college no matter what and take out loans. Luckily, I graduated and by following these steps I'm debt free, have an emergency funds, and mutual stonks earning me passive income. I'm still in my 20s. Thanks Dave, this should be mandatory class at every high school in America.
@@bettermebetterlife8975 That may be the case but there is so many issues and not enough info in the US. 🤷🏽♀️🤷🏽♀️ So people have to go out and find other info to grapple on.
The financial manager projects how much money the company or an individual will need in order to maintain positive cash flow, allocate funds to grow or add new products or services and cope with unexpected events, and shares that information with business colleagues.
The also allocates the company’s available funds to meet costs, such as mortgages or rents, salaries, raw materials, employee T&E and other obligations.
Timothy Eric Meek always emphasis that finance teams must track current cash flow, estimate future cash needs and be prepared to free up working capital as needed.
Looking at it from Timothy Eric Meek perspective, a financial manager’s activities, revolve around planning and forecasting and controlling expenditures.
Almost 19 and have 10,000 in savings, no debt, college is payed for, car is payed for. Plan on moving into my own place soon. Update: 6 months later and I’m about to have my first 20k month. The last 3 months have each been over 10k. Turns out I’m pretty decent at sales
I’m jealous wish I wouldve listened to older adults when I was a teenager now I’m almost 22 and 50k in debt nothing money paycheck to paycheck and now starting to follow his plan
i am 14, i have almost $300 saved, but i have zero income and i don't live in a populated area where i can do side hustles, so until i get my licence to drive and work i'll be educating myself about how to handle money.
Good job. I'm only 21 and have had a job since I turned 15. Once I found out about investing around 18/19 (which I enjoyed doing) I invested much of my paycheck into it.
Once you do get a job, set up automatic payments towards investment accounts and retirement accounts. That way the money goes straight to those without you having to think much about it.
Fix cars, cut grass, build custom pc's, woodworking and repairs. Pick any and you can make money that comes to you. Just put your name out in local fb pages, local paper, sem seo clicks. Let the work come to you. You got this!
These exact steps helped me turn my life around. From 70k in debt to getting debt free and having just some kind ofemergency fund. Theres more than one way to skin a cat but Dave’s methods are proven. Guy changed my life financially. Forever grateful
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
I love not having any payments but my house. My step father died and with my emergency fund I was able to take care of the funeral costs without stressing my mum out, It's powerful living out these steps!
Dave's steps have really helped me and my family. Thank God I ran into his videos online. He is the tough love and common sense that a lot of us need. Thank you Mr. Ramsey
Overall, 51% of traders think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
As of yesterday I’m on baby step 3!! I totaled my car a few months ago and got paid out by my insurance. Instead of putting that money toward another car I can’t afford I used it to pay off my debt and put the rest in my emergency fund. Using my bike and borrowing a(n old tartly but still functional) car from my family until I can afford the next one without compromising my plan. Feels great so far!
Brittney, you can do this. Eliminate unnecessary expenses no dyeing hair, no manicure or pedicures, no vaping or drinking alcohol, other than Frig and stove unplug everything in house unless you need to use item at that moment afterwards unplug it it will lower your utility bill
I agree that money saved cannot grow much except invested. As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have about $700k amount of capital to start up but I have no idea what strategies and direction I need to approach to help me make decent returns
It's really not as difficult as many people presume it to be. It requires a certain level of diligence, which is something ordinary investors lack, and so a financial advisor often comes in very handy.
People underestimate how much they can make from the stock market. I started with $127k just before the pandemic hit. Many people's portfolios tanked, but I rode through with my financial advisor, and even made more than $86k within just five months of starting, and it's been an awesome ride since then.
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. *Sharon Louise Count* is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
I want to invest roughly $70,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stock?
It's crucial to have a well thought-out strategy and not make impulsive moved based on short-term market fluctuations. Patience and a long-term perspective are keys. you should consider a market expert to guide you
That's the more reason I prefer my day to day investment decisions being guided by an 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 exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2 years+
One of my goals is to employ the service of one this year. I've seen some off LinkedIn but wasn't able to get a response. Could you recommend who it is you work with?
Timothy Eric Meek is licensed fiduciary I use, just research the name you will fine necessary details to work with a correspondence to set-up an appointment
I took out student loans to live off of. As a Single teen mom I needed it to eat. Thank God I finally got them paid. Wish I knew about Dave 10 years ago!
I am now in baby step 7 and I am about to pay my mortgage off in less than 7 yrs. I stared these Baby Steps in 2019 after a friend told me about it! After less than 5 years manage to stabilise our financial life. Rise an beans? Are you kidding me? Been there done that! My kids love rise and beans and cheap 3days old chicken soup! It is worth it. It is worth fighting 💪
Amen. Having a plan is a start having a good plan is progress having this is plan is how you change your family tree. I'm debt (besides my house which will be dealt with) free making below the national average income and my kids have been involved in every step.
It’s not simple. You have to make permanent changes in your lifestyle. Most people are too immature to succeed at this program. For those of us who can exhibit self control will find the program life changing.
Agree. Managing money is about behavior not arithmetic. One get accustomed to a certain money behavior, and it becomes "comfortable." Altering that behavior is "uncomfortable." Its not easy.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
@@webfreakz So you've never made any money mistakes in your life and you've had it all figured out since day one? I guess that's why you're here watching Dave Ramsey videos, huh? Lol
@@goodnesssotunde4330 I'm a meatcutter. So like solid middle class income, but not gonna make me rich. Part of my success was that I was living with three roommates at the time, so after I paid off my car, I had very little in the way of expenses.
TODAY ONE of the medical bills for my wife giving labor was paid off in full. Paid my sister back a small loan I owed her Currently on track to paying off the next medical bill and one of two credit cards in FULL. I see the horizon! Keep going !
I'm 34, have all my debts paid off besides my mortgage. I dont have kids, never married. Been paying extra each month hoping to have my mortgage paid off by the time I'm 39.
I came here coz i thought i had a problem turn out I’m fine. Apparently i’m on step 7 and i shouldn’t be complaining. Thank you 🙏🏼 wish everyone the best
the most beautiful thing about the Dave Ramsay organisation is that they never left the very real story of going through the crushing pain of debt but turned it into the foundation of purpose. It constantly inspires me to hear where he came from from the perspective of where he is now and it gives me encouragement and hope.
Being 26 years old, married, and debt free (we rent and don't have any car payments) inspires me to go crazy on saving and investing, even at the start of my career. I ran into this channel as I've been trying to overcome bad spending habits and building wealth is a concept that stirs me more than any amount of spending can. Thanks for these baby steps dave!
To the skeptics, the baby steps work. I have gone from a negative net worth to 330 grand in about nine years. This includes marriage, buying a house and a van, completely paying all consumer debt and having four kids, and only 35 K left on the mortgage. I make a modest salary, less than 80 K a year. Dave's baby steps work.
The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam.
It's a miracle and I would testify, $110,000 every 4 weeks! I now have a big mansion and can now afford anything and also support God's work and the church.
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself
Just cleaned up the mortgage and achieved Baby Step 7 ! I am now focused on Baby Step 8 which is taking care of my health (dropped 20kg, partially due to stress removal, and keep going)
After I pay off my debt, I want to go into the stock market immediately. I read about someone someone who started with just $89k and made over $500k within about six months. I started investing recently myself, but I've lost a lot of money. How exactly do people make so much money in the stock market?
It's really not as difficult as many people presume it to be. It requires a certain level of diligence, which is something ordinary investors lack, and so a financial advisor often comes in very handy.
People underestimate how much they can make from the stock market. I started with $127k just before the pandemic hit. Many people's portfolios tanked, but I rode through with my financial advisor, and even made more than $86k within just five months of starting, and it's been an awesome ride since then.
I was doing this without knowing, i hate debt, including my mortgage and will hopefully be finished with it by next April 🙏. It has been gruelling and tiresome but i will make it! Good luck everyone.
Great advice. I have never felt right when I was in debt. I don't think that anyone can actually live without stress if they are in debt. Its constantly in the back of your mind and it's the opposite when you have enough savings for half a year and a stable source of income.
Live no one else now so you can live like no one else later. Delaying pleasure is what adults do while kids spend all their money. Good luck all you future millionaires!
Thanks to baby steps, I was able to help finance a family member's burial. Years ago, I would not have been able to do this. Emergency fund is vital people.
The media is currently barraged with a lot of economic data right now. It takes a lot to see beyond the whole ocean of news on focus on what is important, which is that no matter how low stocks go, they always bounce back. I really ignore all the news and keep investing. I recently allocated about $121k to put in the market as we anticipate a crash. Any recommendations?
We underestimate the fact that banks are corporate entities also governed by greed. Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply invest through my financial advisor, collect my profits, which I then spend.
@@devereauxjnr here are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
@@322dawgg I've been in touch with a financial analyst ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit
@@Harperrr.99 we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?
@@user-3456rtu 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
Dave’s advice and principles has helped me greatly and although every day may be a struggle at times, I know it’s worth it! Thank you and good luck to anyone who reads this!
Dave is the best voice of financial reason w gratitude n humility .I've learned so much and his Advisor Pros are amazing,talked w one this morning thanks Dave 😊
I’m 21 and on baby step 5. I do stray from Dave’s plan and I put 20% into my 401k, only because I want to dump more when I’m young. I don’t feel I will be ready to put down on a house and start paying it off for about 5 more years, but it gives me more time to save and invest in order to have a large chunk of step 6 done while still focusing on my hobbies/trades while enjoying my life being young.
Should be done paying off all of my consumer debt by December of $17k Then all I have is my mortgage. Yes we sold out financed car and turned in our lease! Swallowed my pride and drive. 95 Toyota Corolla It’s sucks but I think this might work
Look up compounding interest and invest instead of paying off low interest mortgage debt. Dave's babysteps will cost you hundreds of thousands in lost returns.
You have 200 million reasons to listen to NO ONE ELSE BUT DAVE RAMSEY. That's his net worth. I guarantee no one else on this thread is worth even close to that. Ask Aaron how many books he's sold!
Hey Aaron, why not pay off debt and invest like you are saying w no debt? Why make someone else rich off of foolish interest payments? That doesn't even make sense.
@@spconrad9612I don’t understand this. Who cares if the interest is low. Once it’s gone, it’s gone! How much does having a paid for mortgage free up money?
My big brother (bless his ❤)put himself through college working multiple jobs and then he would come home to the farm every summer to help us. He just retired from the federal milk marketing bureau. I'm so glad he has a beautiful home, lakehouse, and family to enjoy.
Living on less than you make is key. Having 6mths to a year in reserve has saved my life on more than one occasion. There have been five corporate restructures in my career where I have been cut. I have been fortunate that I found employment within 90 days of each layoff. Having six months to a year in reserve made the job hunt much easier. Did not have to take the first thing that came along. Also, I remember having home repairs from $4k to $10k occur. Having the money on hand means I did not go into debt. Even though I am still making a mortgage payment, I have $750k in equity and pay an extra $1k in principal each month. My cash reserves far exceed my mortgage balance, but I plan to sell soon and move to a much smaller place - and of course pay cash. I love Dave's comment about folks thinking you are obsessive - I live by the budget.
I feel like no matter what I do, I’m always behind. I finally got a new job, I’m so excited! $42,000 isn’t a lot, but when I look at what I’ve made in the past, it’s a big step for me! I’m excited to get started on saving more and finally getting out of debt. I’ve lived with my bad financial decision for a long time, and I’m paying the consequences. I know I’ll get there some day, it’s just taking time. This job will really help me.
It annoys me when people say the baby steps are not the fastest way to becoming wealthy. Mathematically a lot of the things in the baby steps don't make sense (like paying smallest debts off first). But they don't realize it's called financial peace for a reason and not financial mathematics.
@@aaront936 Again, if it were a math problem, math would fix it. It is a behavior problem and until that is corrected nothing will change. Sad that is a foreign concept for you to understand.
Baby steps changed my life. I was 45k in debt. Took me 18 months to pay off my debt and get on a new career track. Feels good to be debt free with money in the bank.
It depends on someone’s situation. If they are renting or yet to own a house it becomes more difficult. But building savings and the right investments. That is the way. I will keep self educating myself..
Well, I've gotten into a plethora of assets with $73k spread across stocks (options and futures) for short term and index funds, and ETFs, for the long term. I've been investing with help from a pro fund manager, Herman W Jonas who oversees my investments. Now I sit back and reap my dividends while I just reinvest from time to time.
@@TambooolWell, that's your view. In my experience, there is no such formula, It is nearly impossible to achieve success with investing. It’s all just gambling.
I'm am old dog and I'm not big on learning new tricks. After so many years of trial and error, I finally found what works best for me, both financially and emotionally.... and Herman is the perfect sounding board for me. He is far and away the best I have come across. He is all focused on teaching and making sure that I make profit. What more could I ask for?
I tried getting into stocks myself some time last month and lost a ton of money as I was ill-advised. Can you please direct me to him as I’ll like to hear from an expert?
I just discovered Davey Ramsey. I did baby steps by my own on my early 20s without knowing. This definitely works. Now I am richer than I could have never imagined.
I've been working on baby steps with my husband for a few years. Not with extreme intensity but definitely with focus. We are now debt free other than our mortgage and are about to build our full emergency savings (aiming for $20k)!!! It feels amazing to have thousands of extra each month after our debt snowball paid off everything. And we are now at a point of having so much overflow and excess every month, we aren't sure what to do next. Then I remembered the baby steps and found this video which clearly lays out our next steps. Thank you for giving us some guidance and proven methods to get out of debt and build true, lasting wealth! I'm mind-bogled that we are at this point and I am extremely excited to continue to move thru the next steps to reach millionaire status in 5-10 years! 🎉❤😊
28 with no kids but going to have to disagree with paying for my kid's college. If they are not majoring in a field that has a decent pay starting out and moving into a career, they shouldn't be going to college. I do not hate my parents one bit for not saving money for my college. It is a different experience when you have to pay it all back yourself. In a weird way, it also made me realize how materialistic I was with money and I think twice going forward about what I should and shouldn't be buying. My opinion on this one part does not change the fact how awesome Dave is!
I don’t agree this point Dave makes, this is good advice but it’s to a very specific group of people. It’s also important to point out Dave has never been poor a day in life came from a family with loads of $ & he conveniently leaves that out of his narratives
For years I’ve been not making much progress because I try to do all the steps simultaneously. Just made the final payment on my last car loan and it’s on to building the full emergency fund!
We had 12k worth of debt in the form of BNPL accounts. This channel has made it so that we have paid that off within 6 months and all while dealing with me becoming a SAHM and losing one income. We have 2 cars left to pay for. My car will be paid within the next 6 months and then we only have my husbands car left to pay off. We have $1000 in our savings account too. Thank you Mr Ramsay!
The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam.
It's a miracle and I would testify, $110,000 every 4 weeks! I now have a big mansion and can now afford anything and also support God's work and the church.
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself
Just want to give a testimony. I am debt free as of today and on baby step 3. For those who chose to start stay the course because it actually works. Best wishes and thank you Dave.
My mom and dad didn’t encourage college they just didn’t encourage anything. Basically, I lived in their house and when 18 came I was out. I am now 42 and here I am me and only me doing life the best I can. I went on to college with student loans and heading into law school in the new future.
I paid off the car yesterday! Only debt I have now is the mortgage. I’m now on baby step 3. I can’t say this enough as I do comment on a lot of these videos, but sincerely, thank you Dave for all you do. You have changed my family’s life and we are very grateful for you ❤ God bless
