Financial guru, Dave Ramsey talks about getting out of debt, how much to spend on an engagement ring and when is it time to buy a lake house?
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I love how some people are dumbfounded by things that Dave says and literally all he’s saying is “don’t spend money you don’t have”
Says the same thing every day on his show and people still tune in.
To paraphrase Dave. Don't spend money you don't have to buy shit you don't need to impress people you dont even like.
Haha nice username
Yeah he deserves credit for bringing the “debt snowball” mainstream. But I agree he’s over rated and his advice outside of debt is horrible
Because people are morons.
Azul Wells' insights have been a game-changer for me! His practical approach to financial management has empowered me to take control of my money and work towards a debt-free life and a fulfilled retirement._
You mention your advisor & that caught my attention. I'm eager to learn more and potentially seek her guidance. Could you share how I can get in touch with her??
Thanks so much. I was able to find her page and I already leave her a message..
I love Dame Ramsey. So much common sense. No BS. Straight-shooter. People need to hear this stuff!!
You literally took the words right outta my mouth. Everything he says makes complete sense. :)
@M Detlef we're not doing math we're doing personal finance, which is a multi layered onion. time to grow up
@@eatpigsnot well said and great interview!
I know. Shay Carl talked about him years ago and thought Shay was so lame for going on and on about him. Now I get it!
After hearing Dave Ramsey speak/preach, I feel like I've been to church, fired up and praisin' the good Lord screamin, "YAY-YESSSA!!"!
My wife and I became debt free last month using his system. It works!!!
🙌 yay! Congrats! Job well done lots of dedication especially when there's 2 of you!
Congrats!
Congrats! My wife and I are on baby step 2 and can’t wait to get out of debt. The snowball works!
Dave saved my life and future . I’m debt free now, no stress and I sleep well at night.
"Can I borrow for THIS?" "No." "Can I borrow for THAT?" "No."
Dave is my personal hero 💛
I love me some Mr. Dave Ramsey. God bless you sir, you have made a positive difference in my life.
Thanks for having Dave on Bobby. These teachings have been a personal blessing in my life and changed my family tree. It can be done!
I love it when you have Dave Ramsey on the show
Since I listened to Dave I'm knocked out back taxes payed off 2 credit cards and got a decent amount saved and investing in retirement....wish I had listened to him years sooner
I love paying my bills online while I watch the Dave Ramsey show
Don't over pay for the ring. Invest in the marriage.
Dave Ramsey. You are the man with the no debt plan
Dave Ramsey and Bobby Bones! So much greatness in 1 room!!
I just discovered him yesterday! Love him...
Better late than never, good luck 🔥
Love Dave. He is like listening to a father telling you common sense...he got me out of debt, no credit cards, have more money in the bank i ever had before and i sleep better at night with that peace of mind. Thanks Dave!
I for real sit up straight when I hear his speak 🤣
Dave Ramsey is great advice on money 💰
I love this show guys!!!
Dame Ramsey he has been a great help to a lot of people is so nice of him
Dave is awesome 👏🏻
Dave is so right. I have taken big chunks of money when I got them and paid off one card or loan at a time. It makes a huge difference.
Love Dave!! Also, I need Bobby’s shirt.
Dave is saving peoples lives.
I just went on a cross country road trip and exhausted all my Marriott Rewards points, it paid for 14 nights in hotels from Virginia to Utah and back...all I had to pay for was gas and food. And before you ask, yes I am debt free and hold no balance on my CC.
What’s you have to spend to get the points though?
Love Dave!! Don’t finance beer pong 😅
One of things I've never heard Dave discuss are the massive devaluation of the US Dollar or how salaries/wages have not kept up with inflation for several decades. Those factors play a large role in people spending themselves into a black hole.
Not really, that's just a convenient thing to blame. People spending themselves into a black hole have a spending problem. Or they've made poor life decisions that end up forcing them into an income problem. There are exceptions of course, but devaluation of the dollar is not the main issue. I've been a teller at a bank and seen peoples bank statements and it's always the same story.
@@bricehatcher8391 low iq response here….devaluation absolutely matters and is relevant
@@elijahpaul9582 lol ok. There's a lot of things that cause people to be in a world of hurt in their personal finances. Devaluation of the dollar is low on that list. But you believe what you want
Uncle Dave!
I was able to pay for my first property thanks to Dave!
The other option is joining the military and going to college on the GI bill. If you are really that strapped for money and want to go to college it's an option. I got my BS and MS using the GI bill and other programs offered by Veterans affairs. I got my degrees without accumulating any debt. The biggest thing is choosing a degree field that will pay off as a career. As Dave always says don't go to school for left handed puppetry because it won't help you financially.
Great video, but when Dave said that combining or not combing multiple credit card payments on to one loan won’t make any difference on the numbers is probably not true (unless they’re all literally the same interest rate). Often the benefit of combining on to one loan is a lower rate. I’ve actually never had any debt myself, but I was just amazed at how adamantly he said that haha.
Devon Peters the probably with that is people get the loans but don’t cut the cards, so they end up with a loan and more credit card debt.
ring is: 1 month take home or 1 month pre-tax? And why do we buy dimonds? What's the difference between dimonds and a kitchen knife? Can't we make them? What about another kind of ring or stone?
"We have two children we've had for about a year--year and a half; they are in like elementary and junior high". Whiskey Tango Foxtrot?
Presumably adopted.
They adopted children from Haiti.
I Agree. Pay cash for TOYS.
Do I qualify for a stimulus check I just started a handyman business and with this Corona 19 have not made over $10,000. I'm confused and if so how do I go about applying.
I’m not ready to eat rice and beans everyday 😆
I love Dave, and he is very popular. So why do dummies still get huge student loans ??? Huh ?
Some people have no options and actually a lot of people haven't heard of dave. Stop calling names
Dave Ramsey 2020
Graham Stephan: millionaire who loves his points Dave Ramsey needs to do a collab with Graham Stephan 🙌
@@thegalaxycosmos7703 not really.
He actually has no credit card debt despite what his videos have said. Watch his Glamour video.
3 years later… they did
8:50 onward..>" answer is ..it depends on your location..In Houston ..or any area in the usa that is PRONED..or guaranteed to flood..damn nearly yearly...a boat is the better investment. xD...seriously though"
Dave should run for Congress
Dave is great! Not really on the religious bandwagon but he has great advice. But not really realistic for people living in super expensive areas...
DR says just because you live in CA or NY doesnt mean that you get a pass on math. Math still applies in San Francisco. If you cant afford to live there, move
I love how they’re all asking him finance questions when he’s literally answered all of these over and over again on his show. Ask something else!
How can you get a 15 yr fixed mortgage with a payment below... let say 600 dollars. Do you just save until you are 50 for a big enough down payment?
Kyle Couture you buy a cheap house, make a huge down payment, or increase your income. $600 means that you’re making $2400/month you’re only making $15/hr.
@@dgfarr1 yes..that' BEFORE taxes. Good luck getting rid of all taxes...even if you claim yourself and no kids, etc. I make alittle over 13 an hour and take home an average of 418.00 a week. aka worst case 1675 a month..I claim myself, no kids..etc and I ensure I get at most around 200 bucks back from fed income tax and barely 20 bucks from state.
@@dgfarr1 i make 25 an hour. My take home pay is about 680 a week after taxes.
Compare what Dave has done to actually lift millions of people out of poverty and Bernie Sanders who has been talking about it for 80 years.
if the world worked like Bernie wants there would be very little poverty and debt to begin with. Dave treats symptoms of a disease that should not even exist. both Bernie and Dave have great ideas and points, but the best financial move for America, and the world actually, is to get off money altogether and forever
@@eatpigsnot Like that hasn't already been tried? It's the Cuban model. You help the poor by making everybody poor. The landscape is littered with the wreckage of left-wing anti-poverty projects for the past 100 years. Dave lives in the real world. Bernie sells fantasy and fiction.
@@yaimavol no, you help everyone by making sure everyone has enough to not be poor
@@eatpigsnot Already been tried for over 100 years. None of this stuff is new. Study history. Why do I need to wait for Bernie to "fix things" when Dave gives me the blueprint today, and there are literally thousands of "everyday millionaires" out there after following his advice. It works.
@@yaimavol I love Dave Ramsey. But something needs to change about the system so that people can't even go into student debt or medical debt. It's not "the Cuban model", it's more like "the European model". It is what every country in Europe does and it works there. Sure people still get into consumer debt but that's stupidity and not a system failure.
"The most you should pay ... is a fourth of your take-home pay on a fifteen-year loan". That is good advice in most of the country, but in the Bay Area (and other high-income, high-housing-cost coastal regions) this will get you nowhere. You simply have to accept that people make more money out here, but all the extra money will go to housing costs.
I can hear his response already - "Just because you live in California doesn't mean you get a pass on math."
Eric Blair He would tell you to get a good paying job or move the fuck somewhere else...
Move
@@zachhawkins5005 Nah, we're doing fine, my wife and I have a million now and I expect it to be closer to two when we're retired ten years from now. Most of it's in the house so we'll probably have to sell and move someplace cheaper to enjoy it, but I have no problem with that. I don't think we could have built up that big a nest egg anywhere else.
What i like to know is how many people who are millionaires come from family that are millionaires( should say are not impoverished) . if the point is they got there solo coming from a family with little is how you exempt additional aid . If you parents pay your college that’s 50+ k over 20 years ie at the age of 40 that’s a 200,000 dollar head start .I don’t think being a millionaire by 50 before you take any actual inheritances is how people advance to that status. Support throughout their life compounds to later success. If you tell me every millionaire in the study did not get a dime of support other than food water and shelter then it’s easier to suggest they “ did it on their own”. I think we would have a lot less millionaires if they were not supported well early in life. Which is not to say Poor cannot become rich nor rich become poor. The question is does money help growth or does it not and if so what factor correlation is it ? Dave argues that people say you can’t become wealthily without coming from wealth. I would say it not that you can’t it’s that it helps.the true dispute is by how much and what are the ways beyond it which you have control over. What can you control to over come the factors that are connected with poverty. Something he answers with a different lens.
www.nccp.org/publications/pub_1073.html
www.sciencedaily.com/releases/2017/07/170712084747.htm Now many say don’t be a victim the children do grow and become their own person the parents are still developing themselves and can be impacted to do better. Though i still thinks it’s just not right to think it’s blasphemy to help support those in environmental economically challenging situations.While using a economic system of taxation and welfare programs beyond privatized tax exempt religious establishments.
80% of millionaires are first generation rich.
Kevin Rushing This is true but how many come from households that hold the risk factors of poverty?
@@fundip43 Good point. I don't think Dave or many people argue that a person's financial future isn't influenced greatly by their parents income/financial situation. Most of the kids I went to grad school with are trust fund babies and will be millionaires the day they turn 30 or 35. Myself on the other hand, grew up in a household that lived month to month and i was essentially financially independent when I was 16. I was also not taught anything about personal finance until my senior year of undergrad. I'm well on my way to "financial peace" as dave would put it. I think his point is that, while rich parents could be very helpful, they are absolutely not necessary to become rich. I would argue the most important thing for setting a child up for success would be teaching them personal finance from a young age. Unfortunately, the people with the best personal finance are usually not people in poverty.
Letting 18 year old take out 160k on a degree in left handed puppetry. Literally laughed out loud
👍👍👍👍👍👍
Consolidation loans aren't the same as coping with multiple credit cards: first, the new loan is often at a substantially lower interest vs. credit cards (maybe not - but you should CHECK). And secondly, credit card "minimum payments" drop as your balance drops, while a consolidation loan is fixed over the life of the loan - sure, you can make equal payments on your own, but it takes some self-discipline (something the debtor has proven NOT to have in abundance, as evidenced by HAVING the debt in the first place). Finally, "a little bit of interest" has almost NEVER been true for credit card balances: I have a credit score well over 800, and pay off any balances in full each month - and my cards STILL show that I'd owe 20-25% interest if I were to carry a balance. To use his example of paying off $8,000 with pets of $1,000 / month...on credit cards @ 25%, you'd owe a 9th pmt of $844 vs. a pmt of $282 with a debt consolidation loan @ 9% - over $500 difference. Hey, Dave might think that's nothing, but I still notice $500!
I skipped the parent financial plan; Moved out the year i graduated as fast as i could, could Not take the domestic abuse ( honestly, it was more Control at that age, my mom still took the physical abuse for the family),,,go Military...
Common sense is not so common- Dave
After a terrible 2022, shell-shocked financial backers have a lot to think about and losses to recover from. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down. This implies that portfolios will experience more losses during the first quarter of 2023. I'm currently at a crossroads deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?
Concentrate on two main objectives. First and foremost, keep yourself safe by knowing when to sell stocks to reduce losses and maximize gains. Second, prepare yourself to gain from a market turnaround. I advise you to seek the advice of a representative or financial counselor
@@harrisonjamie794 In fact, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.
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@@harrisonjamie794 She is KRISTIN GAIL CUNNINGHAM , my consultant. Since then, she has devoted section and leave attention to safeguards that I have been keeping an eye out for. You can locate information about the chief online, on the off chance that you're interested. I made no regrets about substantially adhering to their exchange strategy.
@@BrunoLuke sincerely thank you I looked her up on the internet and was awestruck by how qualified she was; I contacted her since I need all the help I can get with canning. I've just scheduled a call.
I’m still paying down 5,000 from a vacation it was done
The student loan crisis wouldn't be such a problem if these schools weren't charging such outrageous tuition. We need to look into that and figure a way to lower the actual cost of education.
Actually, it's the other way around. The schools raised their tuition because they know students are being offered $10,000+/year in federal student loans.
Everything the government touches increases in cost.
Also, We keep buying so they keep selling
Austin Nason You are absolutely correct. Outrageous salaries and tenure for professors, “resort style” campuses, and all the extravagant buildings for what? So students can keep studying low demand, soft majors. And who do they want to hold accountable? The tax payers. Give me a break.
Basic economics, supply and demand. College isn't the problem ultimately. Understanding is the problem. If you keep supplying colleges with government loans and tons of demand is on them---the supply cost will go up. It will lower in cost when the demand goes down--i.e. stop going to college, stop the student loan program. This is economics 101.
The people going $160,000 in debt to get degrees in puppetry are doing it through private loans, not government. The maximum you can get in government loans for an undergraduate degree is $57,500. The only government involvement has been to change the bankruptcy laws so that these private loans can never be discharged.
Please drop a link here for where that fact comes from? Thanks
@@denverbevins4052 I got it here: studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized . If you believe there's something I'm missing let me know.
6:35/onward/'s question =- Ya don't. Let the kids save up and pay for their OWN college. The more you do FOR them, the less they will grasp the concept of " I earned this..this is IMPORTANT to me...I BLED for this..I WORKED for this. I sacrificed for this". As the character played by Brat Pitt " tyler durden" in Fight Club once said " Without pain..without sacrifice ..we would have nothing" Only those who have ever had to WORK for something,...truly appreciate its value. Also ..this will definitely make them be much more critically selective of the program(s) they choose to go into when starting off in college rather than the mentality of " meh...mom and dad paid...I can afford a few years of figuring this out"
Moisanite is better than diamonds
Dave and his teachings re: personal finance are spot on. there are however victims. plenty of people bust their ass for years if not decades and nothing good and all bad happens to them. the God Dave is so crazy about plays favorites. the best thing financially though is for the world to get off money altogether and forever
huh
I am going to buy dave an Elvis Presley toupee. Does dave remember himself with hair
The simp show
9/10 millionaires didn't inherit? I call bs.
Criminal
Dave’s a salesman not a financial expert. People need to understand this.
Hes such a great salesman he just sat and gave all his advise for free. You must be the broke bother in law.
He has a degree in finance and runs a show on 500 radio stations across America. Would you educate him on money?
Christopher Wallace so that people will buy his book and his “financial peace university”. Wow you’re a dumbass
UltraAar he went bankrupt and he doesn’t understand the concept of how you should pay off higher interest debts first, delaying people in getting out of debt. And on credit cards, if you use them with your normal everyday spending you can earn rewards that pay for vacations without getting yourself into credit card debt.
@@EmpireTextbooks so who’s worth more you or him his plan works
What I love about Ramsey is how he figures how much everyone should pay for a house. By his reasoning, if you make 60K a year everyone would be living in the slums. When you make millions, then you can afford a house in a decent neighborhood.
You're only factoring in a minimum down payment. If that person making 60k saves up a solid down payment for a few years, that will reduce the cost they pay per month on the mortgage to bring them below that 25% of take home pay
He would actually tell you to increase your income if you want something better
Julian Ellison he recommends no less than 20% down his favorite is 100% down. He takes it into account www.daveramsey.com/mortgage-calculator?snid=tools.mortgagecalculator
Free college for good behavior. Naw hommie, you paid for your kids college cause you're rich!
Nope. He wouldn't have paid for their college if they misbehaved. Would've used that money for something else.
If my kid is a little shithead, it doesn’t matter how much money I have, they aren’t entitled to it, and neither are you.
His same 8 talking points and rehearsed lines get old