Good! Hoping all my time spent playing Ramsey's shows around my kids and being transparent about what we do with our money, and how that benefits our household, will stick with my kids long past when they leave my household.
I almost took a dumb loan for a dumb car last week. I went to the ATM, took out the monthly payment and spread it on the table. I was in shock. There was enough money to go to a fancy restaurant with the wife and kids, buy new clothes, invest in college, invest in retirement, save for a vacation, save for house improvements, save for a used car and take more time off without a care in the world. All this with one dumb car payment I almost promised to do each month for the next 6 years. That payment equals to a whole week of work, Its insane ! Thanks Dave !
When you pay cash for a car it hurts so it also helps you buy a good used deal. Looking in the future for a good used 14k vehicle...could spend alot more but its really just tossing money away.
I'm agnostic and Dave's principles are really helping me out.. I've survived the first 2 months of my snowball, with 10ish to go until I'm debt free and man is it a good feeling.
Awesome ~ moral principles work no matter your belief system. Wife and I have different beliefs and remain debt free based on the baby steps and enjoy the ability to give like no one else.
I got started with Dave’s plan 2 months ago. I’ve managed to start and keep a savings account and managed to raise my credit score 30 points higher to a score I’d never seen for myself. I have hope for the future thanks to this dude! Thank you Dave!
Been on Dave's plan for a month now. No debt and for the first time in my life I have an emergency fund. The peace of mind that being debt free with money in the bank is priceless! THANK YOU DAVE RAMSEY 🐐🙌🏾!!
Mr. Ramsey you are like the uncle I’ve never had, taught me a whole lot I may not have never learned! Your principles are great especially that they are biblical! I’m on my way to becoming debt free and it’s because of your obedience to the Lord to do this for 25 years and counting! THANK YOU!
I'm 28 I paid off my house. It does feel good but it also feels like I am starting from zero in a way. I mean that because most of my money is in the equity of the house. I am sure down the road I'll feel better about it.
You could move down in house, save the equity from the house that comes out and wait for the market to correct and buy in. Or use the equity from a move down to buy other investments such as real estate. Whatever you buy make sure you're knowledgeable in it. Dave's plan is mainly about getting rid of that risk. At least no bank will take your house now.... but the state might if you've got property taxes.
droptozro I have a few different ideas. One is selling and using the money to invest with then just rent a house for a while. We'll see. My investing got me got me to this point.
Dude if your mortgage used to be 833 a month you just got a passive raise of 10k a year take home that everyone with an 833 a month mortgage doesn't have. You're killing it man!
the plan worked 25 years ago, and it works today, that has not changed, everything else in the world has changed, presidents have, we've gone from Bush Sr. going on Clinton to Trump. October 1992, Miley Cyrus wasn't born yet, her father Billy Ray's song Achy Breaky Heart was new and popular at the time. No one has heard of world wide web or wireless internet, we had beepers/pagers, now we're practically attached to our smart phones and we twitter/facebook/pinterest constantly like it's our lifeblood. We get all our information on RU-vid, Google & Wikipedia.
Its true..even me myself made below 30k annually but bcos of no debt my house is goin down fast from the previous 30yr mortgage valuing around 230k now goin down to 153k..thanks to Dave im goin to focus more on the mortgage early rather than making car payments down the line,life is so much better
You are amazing Dave. Thank you for having the patience to do this over and over again. I trust on you, I listen your show every day in different platforms and I am very grateful that I started to listen to you.
Thank You Dave (and team!) for all you do everyday! Congrats on 25 years. I appreciate your honest approach, sometimes I do need to hear harsh truths to stay on the straight and narrow. God bless! =)
This time next year, my girlfriend and I will be debt free and be 2/3rd towards having my 3-6 months emergency fund. We have been so stupid with money in our early-mid 20s and we're now in a very good salary position (we're in the UK though) so we can chomp through this debt easy... Just need to be patient. Thanks a lot for your help Dave!
The first step for resolving a problem, the people must admit they have a problem. Most of people which are in debt, don't admit they are broke. When you have a negative balance, then you are broke, plain simple. Sad thing is when those broke people pretend to be financial gurus, and teach that debt is financial leverage for fast increasing of the wealth. The bible clearly states those who want to get rich quick, loosing everything. See Proverbs 13:11.
I just love it when some "misguided" individual calls dave ramsey and asks a question like would it be ok for me to finance a car, because I need a car? Really, you must have made a mistake you dialed up dave ramsey. When you thought you were dialing G.M. Financial. Lol. Live below your means. Work and save. Be happy.
Thank you GOD🙏🏻l found you l follow you every day and learning little by little to be good with money and spend less in things that we do not needed!! I am in step 2 GOD BLESS YOU🙏🏻
I’m not Christian or associate with religion but Dave is on point and speaks facts. Also when his arms are folded in the thumbnail I know the rant is going to be off the charts😆
idk...should i move out? Age 27 earning 6 figures, living in my aunt's house by myself, fix my own car, fix her house for her, no rent, and save money. I got no debt and max 401k and IRA. A house is too expensive around my area even with my salary. Everything around here is 600K+ even for a one bedroom apartment. Everyone is outbidding everyone else. Rent is just shoving money down the drain when I can live for free until housing prices drop? (hoping)
Dave, the reason why people like to avoid solutions that work is because they don't like working. That's because first world victims don't like working. Because they'd prefer to play the victim. Look at MMOs. Everyone can have both equal skills, starts, etc. and there'd still be beggars on the streets!
so i owe 114,000 on my home, 19,000 on my car, 1000 on furniture and 5000 on student loan. WHY does dave say to pay off the smallest first? i have been paying an extra 300 towards the mortgage and about 30-50 towards the others when i can. To me the mortgage needs knocked down quicker because the house has depreciated in value since i purchased it in 2004 when the market was crazy. Right now its only valued at 100,000 which is 14,000 less then i owe. Id at least like to pay it down to under 100,000 then worry more about the others. suggestions?
He recommends paying the little one off first to get momentum and see progress. It's like a checklist and knocking one off the list. There's other research Dave has read on the show that corroborates this also. It's also best to have one major focus like the smallest debt to see the large impact of getting rid of it faster rather than throwing little bits of extra cash at each debt across the board.
The local FCU is offering a 100% mortgage without PMI. we'd still like to have SOME down payment, but do we go for it? I want to call them for fine print details, but the offer will greatly accelerate our opportunities. Thoughts?
Alex Vigliotta I’ve never heard of that. It sounds a little shady. They probably increase your purchase price, Tag on a bunch of extra fees, make you pay a bunch of interest upfront without touching the principal, or something like that. If the market turns and you need to sell, you likely wouldn’t be able to get out of the mortgage because you would be upside down. Putting a down payment gives you some wiggle room in that scenario. Maybe that wouldn’t bother you if you were planning to be in that home for at least a decade. I would definitely look at the fine print, and if you have something to put down, I would do it. Even if it’s only 3.5%. But, I’m just some stranger on the Internet. You’ll have to research it for yourself. Good luck. :-)
Alex Vigliotta it will also greatly increase your risk by not having any equity. Not to mention you'll be paying mortgage insurance... save 20% down payment
Hey Dave - can you give your advice on how to qualify for a low interest mortgage without building a credit history? Curious, responsible, credit card user asking here.
Dave the reason your plan has not changed is God does not change. By the way it is not your plan it is God's plan. Malachi 3: 6, Hebrews 13:8. I am debt free. I tithe and give to missions. People do not hate you they hate God.
Well... by the same standard Dave shouldn't teach the Bible, right? Even if you've read others you agree and disagree with on the subject of the Bible. You said "look it up, it's in there." Dave, listened to you for a long time---show me where it says to give "10% of income" to a local church [assembly] ...even when when you're broke? Please? Looked for it for years, it's not there. You know what the tithe ACTUALLY is per the Bible... because I've heard you explain what it actually is before legitimately from the Bible. I know you're not stupid. I just wish you'd stop telling people stuff that's not actually in there. It's really no different than you ranting against broke people for disagreeing with your beliefs on money and the Bible. I'd say this to your face, but it might sound a bit nicer cause it's not text haha I love you Dave, always will.
droptozro The tithe was an obligatory offering from the law of Moses requiring 10 percent of an Israelite’s firstfruits. Because God provided the harvest, this first part was returned to him. It was a reminder to Israel that all things we have are his. It was a show of thankfulness for his provision. It also provided for the Levitical priesthood, festivals, and the needy.
You could also add that that type of tithe happens at most twice a year[harvests]. I already said I know what it is and Dave knows what it is. I asked to be shown where it says to give 10% income to local church assembly anywhere in the Bible?
+chan stanley That tithe is to spend on yourselves... read it a bit more closely. Is that what you do with your tithe? And it's interesting that so many professing Christians want to say they don't have to keep the Torah, yet... oh, the tithe?--yeah that one's to be kept while ignoring other commands. The NT is not against supporting widows, orphans, poor and pastors. It does not say build large buildings with the money either. I'm still waiting for a verse to show tithe goes to local church. If the NT was the beginning of the assembly of God in Christ, then I need a context/verse showing that monetary funds are to be given to the local church.
I thought I was in the wrong for the way I was spending my money: making a budget and paying my student loans (estimated 7 years to pay it off). When I was introduced to Dave Ramsey's videos, my passion on overdrive (new plan estimated 2 years and I'm still doing so well). Thank you Dave, you rock
I work at a bank, and clients just love to get car loans, they like to pay as much as $10000 and $15000 in interest, no wonder my country is about to get in a recession, thank you Dave, I'm getting ahead by listening to you.
The people of the internet believe that they have the right to argue with Dave without having their ideas proved first by success. Everybody thinks they have the right. I don't have the right to argue with Dave Ramsey.
I wouldn't argue with him either; Anyone who paid off over a Million Dollars in debt and can show you how to manage your Life better and win with money I want to hear what he has to say also.
I just learned about you in my Personal and Family Finnace class. We’ve only just started watching you and you’ve already given me great advice already. I don’t know why some of the kids don’t find this interesting or at least worth listening too. This is a class you have to choose to take but in my opinion it should be mandatory. Because of you I think I’ll start off and leave college debt free-and definitely finish my life that day. I’ve already learned so much and can’t wait to learn more!
For the first time, I put money in my savings at the beginning of the month rather than the end. Now we see if I can keep to the budget when I have less excess to work with.
dave ramseys plan works but you have to realize each persons life is different and not all parts of the plan will apply to you and some parts have to be modified to suit your life
Sounds like Dave is referencing a comment I heard made by robert kiyosaki . In an interview he stated if your poor or middle class then dave Ramsey's advice is great ..if you want to be rich (like me and Donald Trump) Don't follow it. He went on to give examples like "do you think guys like me and Donald Trump cut up our credit cards?"..I personally don't think you can go wrong with Daves conservative approach but I also get that guys like Donald Trump wouldn't be a billionaires if they took Daves advice
Mike B agreed. Dave's target market isn't wanna-be billionaires. It's for the vast majority of Americans who don't know how to handle their money. If Dave was a baseball coach, he'd teach the fundamentals and to play small ball. He wouldn't tell his players to swing for the fences every at bat. His team would make the playoffs almost every year without a bunch of superstars. It's a weird analogy but I'm high right now and it makes complete sense to me
