@@HOLDXSTEEL Those aren't the only 2 scenarios. Technically, it would be better to owe a little amount than get a refund. Because, you would be taking an interest free loan of sorts from the government. In order of best to worst, 1. Get zero refund. 2. Owe a tiny amount. 3. Get refund back.
Don't give up. You can do it. My wife and I were $85k in debt. We rolled up our sleeves and got to work. Being debt free allows you to change your family tree. It's changes your future and the future of your family. It also eliminates many pressures of life. I guarantee you that if you don't give up, your life will be changed.
Feb. 13th I paid off my mortgage. I am 64 and it's been just me, on my own and I can finally say I am debt free! Whew. Thank you Dave and team. I needed your rants for some reason. Not sure why, but it was the motivation I needed. Living on the cheap is empowering. Don't give up folks. It took a long time but it's worth it.
Had not heard of Ramsey, years ago when family and friends chided us for investing aggressively into the 401. They said you need to spend. You need to enjoy! You need to buy a camper! Paid our house off in 18 years, and now retired. Friends and family retired with mortgages and credit card debt. We are enjoying retirement very comfortably and relaxed! Thanks to no debt
Last Saturday I became brand new to this Ramsey thing. Never heard of Dave Ramsey or anything he's done before and UA-cam's algorithm recommended a UA-cam short and I've become obsessed with tackling my debt and fixing my life. I'm thankful to have found Dave and everyone associated with his show.
Dave's rant keep me motivated. I'm on baby step 6. I no longer live paycheck to paycheck. I no longer shop cuz I'm bored. I no longer eat out or go to drive thru on the way home. I have officially become weird according to my family. I have a 24k emergency fund. I have 300k in 401k and 70k in savings. Sorry, Uncle Dave but I've kept my 3 credit card. But no credit card debt. I have a credit score of 827. I now have a financial goal and a purpose thanks to the Ramsey guidance. His plan worked for me but you have to put in the work !!!
@@bryan_witha_whyyit’s a waste of cash and if Ramsey were smart hed understand the opportunity cost in wasting money on garbage food outside and lengthy vacays as opposed to keeping to yourself and cooking. It’s irresponsible when you still have a mortgage
My husband and I were taught by our parents how to be smart with money and avoid debt. Now in our thirties, we are completely debt free with a paid for house. Follow what Dave says. Live below your means. Work hard. Stop going into debt. Stop trying to keep up with your neighbors and social media friends. We would never trade what we have for an "image" of wealth or glamour.
We're on baby step 2, and I'm so ticked off with myself. We wasted so much time. But every failure we've made I find a solution in theold and new videos. And helps us how to up this mess we created..... Thank u, team Ramsey.
I found Dave Ramsey a few weeks ago. I'm still on baby step 2 and I have a long way to go. But I have a budget, I got my spouse on the same page and we are attacking our debt. My situation isn't much different than a few weeks ago... however, I finally feel like I have a plan and I'm convinced if I didn't run into daves content I would be retiring poor. Thank you
Keep listening to him. The rants keep us on-track. We are on baby step 7 at age 40. We are not wealthy yet, but we have 25 years to build that wealth before we retire. Dave has been a blessing.
This stuff works folks!!! My friend got me on to DR back in 2016 when I was complaining about all the interest I had paid on my student loans while making minimum payments. At that time I was about 400k in debt including mortgage. I followed Dave’s advice and lived on rice and beans and was debt free by 2020! Good thing too since that’s around the time the pandemic effected my area! While everyone was panicking about losing their jobs, I was stress free!
i always tell people the hardest things in life are also the simplest. dont mistake something being simple for being easy. having money is a standard subtraction problem. money in - money out = money or -money. simple. love it.
Dave is right I was involuntarily retired 11 years ago. I'm one of Dave Ramsey's millionaires. Once I paid for my house, truck and paid off the credit cards. I had a lot of money to save so that is what I did. When you don't have a car payment or a house payment it is really easy to save. I have no family so I don't have to save for children's collage and that made it easier. During that time I managed to increase my retirement portfolio by an average of 8.73% per year and increase my dividends by and average annual increase of 10.54%. I also invest in dividend paying stocks so I don't need to sell any stocks to fund my retirement. Stay out of Debt! Live on less than you make! Someday you will be too old to learn another employment skill and will be stuck eating dog food if you don't. Companies don't want to higher old people! When I was involuntarily retired I was not able to get a job so I learned how to use Excel. I found out that I really didn't need a job and I have been retired ever since. Listen to Dave he is right. Investing in something you do over a long period.
My friend followed Ramsey's advice to the T, ate "Rice and beans" mostly, saved up a lot to "enjoy later in life" and unfortunately passed away at age 41. Point is, don't plan too much for the future. You don't know when it will all end, so enjoy life and everything in moderation while being intelligent with your finances. Go on vacations, splurge on that meal occasionally, laugh and have fun with family and loved ones, but don't be reckless. You only have one chance at this beautiful thing called life. Just because Ramsey was reckless at age 28 and went bankrupt and built his finances back using his method doesn't mean you have to do the same and live his life.
He never said you can't spend any money. You said not to spend money you don't have and not to spend everything you do have. If you are already in debt then yes you have to sacrifice more....
There needs to be a balance in life. However, there are some people who are extreme that feel that eating rice and beans is best to get out of debt. Ramsey has stated that the baby steps is not an absolute, but it is an option to get out of debt quickly. Everyone has to do what’s best for their situation.
Best comment that I've seen. Life is ultimately short. I too was trying to follow Dave Ramsey's advice to a tee but all it did was cause more stress to my wife and our marriage and we felt too restricted to just enjoy life. I know that I'm making the right steps to pay off my student loan debt completely one day via the snowball method but I also balance that with a fair amount of eating out/trips here and there and putting some money towards saving for a house one day as well as investing in retirement and my son's 529. All in conjunction with sticking to a budget. It's all about finding the right balance and what works in your unique situation. It's not one size fits all.
Sorry for your friend, rest his soul. Fortunately if you actually listen to what Dave says, it's intensity until you're out of debt. After that youre no longer a slave so now you can enjoy your money. Save and enjoy life at the same time. Rice and beans is just while you're in step 2. Not until step 7.
I legit been haven’t a mindset change over the last few months. I’m 25 with 19k in debt watching these videos help me realize I’m not that bad off but I definitely wanna take control of my finances before it gets out hand. My biggest debt is just my car rn and I know it’s nothing compared to what some of the callers talk to Dave about but it snaps me back into reality every time I watch him. Much Love always appreciate the wisdom. Step 1 in the Process 👍🏾
Wish I’d listened 25 years sooner. I listened but I didn’t hear the message. Now have ZERO debt. Hear what he is saying, your older self with thank you.
This is a fact. True freedom is when you don’t owe anyone anything. Lots of millionaires and billionaires are not free because someone else owns them. When I was in Cape Town, South Africa in December 2023, I had a conversation with the driver of the Hop on Hop off bus. He was driving that bus to keep himself busy. He mentioned he had a paid off house and car, no debt. I told him how he represents real freedom. Only a small percentage of the world have that kind of freedom.
When I was young, I moved a lot, first with military, then civilian job changes. With every move, I realized how much crap I had that I didn't use. this is one to realize its better to scale back your spending
The simple baby steps approach is easy to understand. I'm building a 'baby steps' formula for folks who want to lose 50 lb. Great to see how many people you've helped!
it's that simple. and it's that hard. that's a perfect way to describe it. It is a simple concept to understand and realize why you should do it but it requires discipline and dedication!
We started baby step 2 and "the storm hit". We got through the storm and have started moving with the snowball again. Two credit cards down, three to go. Then student loans. Like Jade said we were a flame not a spark.
I think Dave nailed it at the end, the part about making money and not spending it all. At 41, probably 10 years before I ever heard of Ramsey, I had the realization that we made too much to not have any significant savings and a negative net worth. 23 years later, we have a net worth of around 2 Million. Didn’t avoid debt, (took advantage of financing deals on new cars) but we didn’t finance a lifestyle on credit cards either.
We did not follow the baby steps because we did not know about them. We did have good parents who taught us to be good with money. I am retiring in June 2024 at 67 1/2 and we will have a good retirement. But I think we would have been better off if we followed the baby steps.
It took us 6.5 years, on a gross yearly income that went from $42k-$52k, to pay off $145k in debt. We live in a community where many families easily make 3x what we do, and some of them make comments like “it must be NICE to be a stay at home mom”. As if it wasn’t the fruit of our choices, and saying “no” 90% of the time. I don’t even have a smartphone! I have a $100 a year flip phone for emergencies when I’m out with the kids. People will say “you can’t do it in this economy” - you absolutely CAN, you just have to cut out all the garbage you nickel and dime yourselves with. We haven’t changed so much as our grocery budget ($400/month for a family of four) in years... because we are now paying off our mortgage with the same intensity.
My husband and I were so close to finishing baby step 2 (within $1000) when we were hit with a family crisis that lost him his job. We had a bigger emergency fund (skipped to step 3) because we saw things coming a few months ahead of time and hunkered down to prepare for the hit-it wiped it out but we are better for it. I hope that once my husband gets the job he’s on track to begin that we can get a house and get our more permanent emergency fund and begin investing again.
Yeah - I and my wife have finally decided to follow this advice - this morning I kept 1k as emergency fund and paid off 7k of debt (2 plastic surgeries!). Will start looking for a second and third job and to be DONE with debt by end of the year. Im sick and tired of feeling sick and tired. Im done with it!!!
I have one car payment left and i will be consumer debt free! It will be time to tackle the emergency fund 😎 Listen to Dave! He knows what he is talking about.
Before seeing anything about David Ramsey, I had already paid off a third of my debt and owe less than 8k on credit cards, all at zero interest - however, I also was forced to get two new cars last year, due to mine and my wife's car breaking down and while one is a reliable little beater and is already almost paid off, the other one leans towards the average cost of monthly payments that most people pay (on the lower end, fortunately). I have not been disciplined enough in tackling my finances, and this is exactly the motivation I need to hit my goal of getting all cards paid off by next year, and then focusing on the car, so I can follow the next steps.
Way before I heard of Dave I heard of John Cummuta. He taught the things that Dave teaches, but it was a little different. It totally made sense. Love Dave’s rants too.
Currently on baby steps 4, 5, and 7. Repaid my house mortgage 3 months back. Now, I am planning to buy a second house for income generation. The only difference between their plan and the plan I followed is the fact that I still have credit cards.
I’ve been in step 3 for too long what got in the way is getting fired last August. I’m still unemployed. Fortunately I was already debt free before get fired and had a good chunk of savings. I haven’t had dip into my savings that much because I’m able to budget my unemployment benefits pretty good. A lot of people are having a hard time finding a job right now.
No such thing as “too long” on a step. Life happens but at least you were prepared enough that losing your job hasn’t been extremely detrimental. You’re doing great!
Working on it slowly but surely! Building up my starter emergency fund by putting 15% of my paycheck into a savings account along with rounding up my purchases to the next whole dollar and putting that change into savings
I am a big fan of the Ramsey plan in general, but there are some glaring holes in my experience since it is focused primarily on eliminating debt and building wealth for retirement. I really wish the baby steps plan would also include short term savings plan techniques for larger cash purchases like: cars (in cash), land or investment property purchases, non-college tuition, etc without using "emergency" liquid savings. I realize it's part of budgeting, but not necessarily for bigger purchases that are in the 10s of thousands of dollars.
I agree with this. I’m on baby step 4 with a good amount of savings. I am about to turn 25 and starting to think about upgrading my 2011 beater car and wanting to buy a home in the next 3-5 years. I save diligently, but mostly in retirement accounts and only contributing a small amount to my brokerage account monthly which is obviously more liquid. It’s hard to know how to save for big purchases in your late 20s/early 30s.
Finally hitting baby step 6 here. The only change I made was maxing out my IRA's (wife and I) in the first 6 months of the year, then dumping all that on the mortgage for the last 6. Other than that, stick to the plan. Worked for me.
Yes, no payments is great! Having a paid off home is great but it's still not enough. There are now retired people in FL that own their homes outright that are having to leave due to the drastic rise in homeowners insurance and property taxes (that never EVER go away).
That's everywhere and when you get old ... you downsize because the kids are gone and the income isn't like it use to be and no reason to hang on to more than you need. . No one is owed anything in this life.
34 years old, baby step 3,4,5. Feeling like I’m still behind,, but listening to these calls and Dave saying if you have 15k in cash and no payments you’re top 4%, that makes me feel LOTS BETTER.
@@crashtestdummy1972Just remember you need a lot of money besides , what is tied up in your paid off house. George is a LONG way from being financially set....most of his money is just tied into a house. Which also means you probably has a pretty big utility bill and taxability for that house along with up keep. That's what I find misleading. If you're a millionaire with a 200k house that's different.
@@kyles2232 i think they talked about his house before, its a normal sized home but just in a super high cost area, so its probably 2k sq feet which his utilities are probably average but his property tax is probably about 8-9k a year. Oh and for sure i agree you need cash too not just a paid for home.
I get it the baby steps work but I disagree with going on vacation... I'm not saying you should go on some extravagant beach vacation but being cooped up not going anywhere can really strain your mental health. Going on vacation can really recharge you and motivate you
Personally I always overspend when vacationing:) because people are so unique better stick to a geral statement. Everybody perceives themselves to "not that type of person "until they end up in the same situation as "those type of people ".
Yes you could be giving up too much and may not enjoy it later in life (pass before you plan) but putting your spouse and children in a better situation than crippled with debt isn't such a bad thing
Great plan. I’m surprised that only 4 to 5% of Americans have 13 K in savings with no debt. I always thought most Americans were rich. In my area the restaurants are crowded stores busy, and people spend money like no nothing.
being 55 and completely debt free other than insurance and utilities. Making 42k a year with a huge lump of cash in a MM. I know i could get so far ahead with this cash but the world is so messed up not sure where to turn ugh Cant afford a big correction that I feel is coming.
We usually become what we read and when we read the best books about financial planning, we tend to end up better off. Many people become financially secure with lower income, and they do it by investing for 50 years and living a frugal life. Dave's baby steps work and should be taught in our failing Democrat-run public schools.
I'm a FPU graduate. I've thought that baby step zero should be a spending plan for the bare minimum, written down, edited often. How else does someone know how much to throw at Baby Step two?
One problem with credit cards people will spend money they don’t have and say oh I’ll pay it later. Later comes then you don’t have the money then you’re screwed. Making minimum payments will charge interest. Don’t spend money you don’t have which means don’t borrow money. A lot of people’s issues with credit cards is they spend money they don’t have and can’t pay it back in full when the bill is due. If you don’t have the money to buy an item then don’t buy they item!! It’s that simple!
honestly i feel like the one thing that ramsey never talks about is the amount you need to be making or rather how to get that amount to actually do the baby steps. like all the other stuff is good stuff but the first step is to have a living income and yeah how do you do that from what i have heard apparently 1 or 2 ways. get the skills needed to stand out for that job that pays enough and or network with people to get that job. and that seems to be it.
“If your broke friends aren’t making fun of you then you’re not doing it right”
My anthem right now
It’s always good waking up to a Dave Ramsey rant
We all need some old school tough love once in a while!
Just finished baby step 1. About to start tackling credit card debt until i can snowball it with my tax refund.
Next year, make sure you don't get a refund.
Congratz and thank you for starting today and not when the government decides to pay you back the money you let them borrow.
@@todd2456I’d rather get a refund than owe them more
@@HOLDXSTEEL Those aren't the only 2 scenarios. Technically, it would be better to owe a little amount than get a refund. Because, you would be taking an interest free loan of sorts from the government. In order of best to worst, 1. Get zero refund. 2. Owe a tiny amount. 3. Get refund back.
Don't give up. You can do it. My wife and I were $85k in debt. We rolled up our sleeves and got to work. Being debt free allows you to change your family tree. It's changes your future and the future of your family. It also eliminates many pressures of life. I guarantee you that if you don't give up, your life will be changed.
Feb. 13th I paid off my mortgage. I am 64 and it's been just me, on my own and I can finally say I am debt free! Whew. Thank you Dave and team. I needed your rants for some reason. Not sure why, but it was the motivation I needed. Living on the cheap is empowering. Don't give up folks. It took a long time but it's worth it.
I am 58 yrs old living in Turkey . I do listen to Dave everyday for few hrs. Love him
Dave Ramsey yelling “at me” is what made us sell our house we couldn’t afford! 😂 Love the rants!
Big mistake
Good job! Stay the course! You'll be back in a beautiful home in no time!
Youre MISERABLE MY LORD@@letsgotomarsman
Had not heard of Ramsey, years ago when family and friends chided us for investing aggressively into the 401. They said you need to spend. You need to enjoy! You need to buy a camper! Paid our house off in 18 years, and now retired. Friends and family retired with mortgages and credit card debt. We are enjoying retirement very comfortably and relaxed! Thanks to no debt
Last Saturday I became brand new to this Ramsey thing. Never heard of Dave Ramsey or anything he's done before and UA-cam's algorithm recommended a UA-cam short and I've become obsessed with tackling my debt and fixing my life. I'm thankful to have found Dave and everyone associated with his show.
Dave's rant keep me motivated. I'm on baby step 6. I no longer live paycheck to paycheck. I no longer shop cuz I'm bored. I no longer eat out or go to drive thru on the way home. I have officially become weird according to my family. I have a 24k emergency fund. I have 300k in 401k and 70k in savings. Sorry, Uncle Dave but I've kept my 3 credit card. But no credit card debt. I have a credit score of 827. I now have a financial goal and a purpose thanks to the Ramsey guidance. His plan worked for me but you have to put in the work !!!
You're amazing! 🎉
Incredible 🎉
Good, glad youre not stuck with the credit cards. Doesn't work for me and my wife. The limit is too tempting for us. So for us they need to be gone.
If you’re on step 6 you can afford to do those things. He’s not telling you to give up life forever.
@@bryan_witha_whyyit’s a waste of cash and if Ramsey were smart hed understand the opportunity cost in wasting money on garbage food outside and lengthy vacays as opposed to keeping to yourself and cooking.
It’s irresponsible when you still have a mortgage
My husband and I were taught by our parents how to be smart with money and avoid debt. Now in our thirties, we are completely debt free with a paid for house. Follow what Dave says. Live below your means. Work hard. Stop going into debt. Stop trying to keep up with your neighbors and social media friends. We would never trade what we have for an "image" of wealth or glamour.
"social media friends"
Is that an oxymoron, or a contradiction in terms?
Paid for apartment or house? Because, there is no way to get a house unless you go deeply into debt.
Not being materialistic/into the newest technology helps greatly. I’ve never had Beats headphones and I have some clothes over a decade old.
We're on baby step 2, and I'm so ticked off with myself. We wasted so much time. But every failure we've made I find a solution in theold and new videos. And helps us how to up this mess we created..... Thank u, team Ramsey.
I found Dave Ramsey a few weeks ago. I'm still on baby step 2 and I have a long way to go. But I have a budget, I got my spouse on the same page and we are attacking our debt. My situation isn't much different than a few weeks ago... however, I finally feel like I have a plan and I'm convinced if I didn't run into daves content I would be retiring poor. Thank you
Keep listening to him. The rants keep us on-track. We are on baby step 7 at age 40. We are not wealthy yet, but we have 25 years to build that wealth before we retire. Dave has been a blessing.
hearing this show makes me so happy bruh.
I been listening for everrrrrr and used to listen daily at work on the podcast
Changed my life hands down.
Bread and butter Dave Ramsey right there! 👏🏻
This stuff works folks!!! My friend got me on to DR back in 2016 when I was complaining about all the interest I had paid on my student loans while making minimum payments.
At that time I was about 400k in debt including mortgage. I followed Dave’s advice and lived on rice and beans and was debt free by 2020! Good thing too since that’s around the time the pandemic effected my area! While everyone was panicking about losing their jobs, I was stress free!
Omg, love watching Dave for some comedic relief. 😂
I like George’s smirk when Dave goes off. Learn from him George. The rants are everything.
i always tell people the hardest things in life are also the simplest. dont mistake something being simple for being easy. having money is a standard subtraction problem. money in - money out = money or -money. simple. love it.
"You cannot outearn your stupidity" - that's gonna be my financial motto from now, thanks Dave!
Oh how I love a good Ramsey rant!
He’s earned the right to bawl his head off and dish out advice, he’s very entertaining
Thanks!
Man I love you Dave I like the raw straight forward approach.
Im not in debt but i always come back to see Dave rant on to keep me in check 😂
Dave is right I was involuntarily retired 11 years ago. I'm one of Dave Ramsey's millionaires. Once I paid for my house, truck and paid off the credit cards. I had a lot of money to save so that is what I did. When you don't have a car payment or a house payment it is really easy to save. I have no family so I don't have to save for children's collage and that made it easier.
During that time I managed to increase my retirement portfolio by an average of 8.73% per year and increase my dividends by and average annual increase of 10.54%. I also invest in dividend paying stocks so I don't need to sell any stocks to fund my retirement. Stay out of Debt! Live on less than you make! Someday you will be too old to learn another employment skill and will be stuck eating dog food if you don't. Companies don't want to higher old people! When I was involuntarily retired I was not able to get a job so I learned how to use Excel. I found out that I really didn't need a job and I have been retired ever since. Listen to Dave he is right. Investing in something you do over a long period.
My friend followed Ramsey's advice to the T, ate "Rice and beans" mostly, saved up a lot to "enjoy later in life" and unfortunately passed away at age 41. Point is, don't plan too much for the future. You don't know when it will all end, so enjoy life and everything in moderation while being intelligent with your finances. Go on vacations, splurge on that meal occasionally, laugh and have fun with family and loved ones, but don't be reckless. You only have one chance at this beautiful thing called life. Just because Ramsey was reckless at age 28 and went bankrupt and built his finances back using his method doesn't mean you have to do the same and live his life.
He never said you can't spend any money. You said not to spend money you don't have and not to spend everything you do have. If you are already in debt then yes you have to sacrifice more....
This is the best comment I've read in a while.
There needs to be a balance in life. However, there are some people who are extreme that feel that eating rice and beans is best to get out of debt. Ramsey has stated that the baby steps is not an absolute, but it is an option to get out of debt quickly. Everyone has to do what’s best for their situation.
Best comment that I've seen. Life is ultimately short. I too was trying to follow Dave Ramsey's advice to a tee but all it did was cause more stress to my wife and our marriage and we felt too restricted to just enjoy life. I know that I'm making the right steps to pay off my student loan debt completely one day via the snowball method but I also balance that with a fair amount of eating out/trips here and there and putting some money towards saving for a house one day as well as investing in retirement and my son's 529. All in conjunction with sticking to a budget. It's all about finding the right balance and what works in your unique situation. It's not one size fits all.
Sorry for your friend, rest his soul.
Fortunately if you actually listen to what Dave says, it's intensity until you're out of debt. After that youre no longer a slave so now you can enjoy your money. Save and enjoy life at the same time. Rice and beans is just while you're in step 2. Not until step 7.
I love Dave's rants.
I needed this rant!
@@laqueciawilson6381 😁
I legit been haven’t a mindset change over the last few months. I’m 25 with 19k in debt watching these videos help me realize I’m not that bad off but I definitely wanna take control of my finances before it gets out hand. My biggest debt is just my car rn and I know it’s nothing compared to what some of the callers talk to Dave about but it snaps me back into reality every time I watch him. Much Love always appreciate the wisdom. Step 1 in the Process 👍🏾
Wish I’d listened 25 years sooner. I listened but I didn’t hear the message. Now have ZERO debt. Hear what he is saying, your older self with thank you.
Always enjoy listening to your podcasts here in Vancouver. Keep up the great work!
This is a fact. True freedom is when you don’t owe anyone anything. Lots of millionaires and billionaires are not free because someone else owns them.
When I was in Cape Town, South Africa in December 2023, I had a conversation with the driver of the Hop on Hop off bus. He was driving that bus to keep himself busy. He mentioned he had a paid off house and car, no debt. I told him how he represents real freedom. Only a small percentage of the world have that kind of freedom.
When I was young, I moved a lot, first with military, then civilian job changes. With every move, I realized how much crap I had that I didn't use. this is one to realize its better to scale back your spending
Storage units are the fastest growing business. People buying and keeping garbage that they don't need or use but keep.
@@musicman7297 It is better to Have and not Need.
Than to Need and not Have.
Glad to see Dave getting to tell it how it is like he used to
The Ramsey plan has saved my life. Paid off over $40k debt, I'm on BS3 right now
Dave has helped change my finances & life!
Don't always agree, but do love a Dave rant.
The simple baby steps approach is easy to understand.
I'm building a 'baby steps' formula for folks who want to lose 50 lb.
Great to see how many people you've helped!
it's that simple. and it's that hard. that's a perfect way to describe it. It is a simple concept to understand and realize why you should do it but it requires discipline and dedication!
I love a good lecture/rant from dave.❤
We started baby step 2 and "the storm hit". We got through the storm and have started moving with the snowball again. Two credit cards down, three to go. Then student loans.
Like Jade said we were a flame not a spark.
I think Dave nailed it at the end, the part about making money and not spending it all. At 41, probably 10 years before I ever heard of Ramsey, I had the realization that we made too much to not have any significant savings and a negative net worth. 23 years later, we have a net worth of around 2 Million. Didn’t avoid debt, (took advantage of financing deals on new cars) but we didn’t finance a lifestyle on credit cards either.
Love the Ramsey plan! ❤ Happy Valentine’s Day!
We did not follow the baby steps because we did not know about them.
We did have good parents who taught us to be good with money.
I am retiring in June 2024 at 67 1/2 and we will have a good retirement.
But I think we would have been better off if we followed the baby steps.
When you attempt to make bad financial decision, Dave's voice comes to the rescue. i like it when he shout at us 🤣
Dave! I love your rationality 👍
Ever so often I need papa Dave to lecture me ! Thank you Dave!
It took us 6.5 years, on a gross yearly income that went from $42k-$52k, to pay off $145k in debt. We live in a community where many families easily make 3x what we do, and some of them make comments like “it must be NICE to be a stay at home mom”. As if it wasn’t the fruit of our choices, and saying “no” 90% of the time. I don’t even have a smartphone! I have a $100 a year flip phone for emergencies when I’m out with the kids. People will say “you can’t do it in this economy” - you absolutely CAN, you just have to cut out all the garbage you nickel and dime yourselves with. We haven’t changed so much as our grocery budget ($400/month for a family of four) in years... because we are now paying off our mortgage with the same intensity.
My husband and I were so close to finishing baby step 2 (within $1000) when we were hit with a family crisis that lost him his job. We had a bigger emergency fund (skipped to step 3) because we saw things coming a few months ahead of time and hunkered down to prepare for the hit-it wiped it out but we are better for it.
I hope that once my husband gets the job he’s on track to begin that we can get a house and get our more permanent emergency fund and begin investing again.
Yeah - I and my wife have finally decided to follow this advice - this morning I kept 1k as emergency fund and paid off 7k of debt (2 plastic surgeries!). Will start looking for a second and third job and to be DONE with debt by end of the year. Im sick and tired of feeling sick and tired. Im done with it!!!
Just finished baby step 2.
Never felt freer in my life so far
I have one car payment left and i will be consumer debt free! It will be time to tackle the emergency fund 😎 Listen to Dave! He knows what he is talking about.
Congrats!
@@crashtestdummy1972 Thank you!
Thanks Dave Ramsey, God bless!
Before seeing anything about David Ramsey, I had already paid off a third of my debt and owe less than 8k on credit cards, all at zero interest - however, I also was forced to get two new cars last year, due to mine and my wife's car breaking down and while one is a reliable little beater and is already almost paid off, the other one leans towards the average cost of monthly payments that most people pay (on the lower end, fortunately). I have not been disciplined enough in tackling my finances, and this is exactly the motivation I need to hit my goal of getting all cards paid off by next year, and then focusing on the car, so I can follow the next steps.
I love how George is always laughs at Dave ranting
Way before I heard of Dave I heard of John Cummuta. He taught the things that Dave teaches, but it was a little different. It totally made sense. Love Dave’s rants too.
Currently on baby steps 4, 5, and 7. Repaid my house mortgage 3 months back. Now, I am planning to buy a second house for income generation. The only difference between their plan and the plan I followed is the fact that I still have credit cards.
this videos so funny, its almost like there's a caller but it's just dave yelling at everyone 😂😂
😂
I like that! Dave ramsey is a champ!
It works. Just do it and it will change your life forever.
Love "Ramsey Rants". 💪🏽🔥
I’ve been in step 3 for too long what got in the way is getting fired last August. I’m still unemployed. Fortunately I was already debt free before get fired and had a good chunk of savings. I haven’t had dip into my savings that much because I’m able to budget my unemployment benefits pretty good. A lot of people are having a hard time finding a job right now.
No such thing as “too long” on a step. Life happens but at least you were prepared enough that losing your job hasn’t been extremely detrimental. You’re doing great!
Working on it slowly but surely! Building up my starter emergency fund by putting 15% of my paycheck into a savings account along with rounding up my purchases to the next whole dollar and putting that change into savings
I am a big fan of the Ramsey plan in general, but there are some glaring holes in my experience since it is focused primarily on eliminating debt and building wealth for retirement. I really wish the baby steps plan would also include short term savings plan techniques for larger cash purchases like: cars (in cash), land or investment property purchases, non-college tuition, etc without using "emergency" liquid savings. I realize it's part of budgeting, but not necessarily for bigger purchases that are in the 10s of thousands of dollars.
His system has this, you just create a dedicated side fund for that purpose, but only once you’re past step 3.
I agree with this. I’m on baby step 4 with a good amount of savings. I am about to turn 25 and starting to think about upgrading my 2011 beater car and wanting to buy a home in the next 3-5 years. I save diligently, but mostly in retirement accounts and only contributing a small amount to my brokerage account monthly which is obviously more liquid. It’s hard to know how to save for big purchases in your late 20s/early 30s.
"That's a stupid butt plan." is my new life motto 😂 4:59
I am working so hard, and takig great risk so I can give like no one else. It's hard in this world!
Finally hitting baby step 6 here. The only change I made was maxing out my IRA's (wife and I) in the first 6 months of the year, then dumping all that on the mortgage for the last 6. Other than that, stick to the plan. Worked for me.
New subscriber, I like it here
Yes, no payments is great! Having a paid off home is great but it's still not enough. There are now retired people in FL that own their homes outright that are having to leave due to the drastic rise in homeowners insurance and property taxes (that never EVER go away).
You must be joking, leave cause you can't afford $2,000- $4,000 a YEAR? I swear some of the comments for Dave Ramsey are baffling
That's everywhere and when you get old ... you downsize because the kids are gone and the income isn't like it use to be and no reason to hang on to more than you need. . No one is owed anything in this life.
@@MrJimmy3459 So what happens when your insurance and taxes are upwards of $10K / year? How about $15K?
Does not happen on this planet. @@tkordik
Nothing like waking up to a good Dave Ramsey rant😂
Good overview
I stumbled through the plan but i made it. Damn this feels good... if you in it please believe you can do it. It is beyond worth it ALL.
Congratulations!!
@@LearnAsYouGo. thank you!!!
Baby step 4 & 5 🙌🏿🙌🏿🙌🏿
Master n discoverylines were great . Add ‘chased by debt’
Miss these rants
Dave would make a great US president
More Ramsey Rants!
My wife and I went through FPU - If you're married the 1st baby step is trying to get your wife on board with the plan 💀
34 years old, baby step 3,4,5.
Feeling like I’m still behind,, but listening to these calls and Dave saying if you have 15k in cash and no payments you’re top 4%, that makes me feel LOTS BETTER.
Im in the same boat man. 32 almost 33 and just about to finish step 3. We will both retire millionaires if we stay the course ! Cheers!
@@crashtestdummy1972Just remember you need a lot of money besides , what is tied up in your paid off house. George is a LONG way from being financially set....most of his money is just tied into a house. Which also means you probably has a pretty big utility bill and taxability for that house along with up keep. That's what I find misleading. If you're a millionaire with a 200k house that's different.
@@kyles2232 i think they talked about his house before, its a normal sized home but just in a super high cost area, so its probably 2k sq feet which his utilities are probably average but his property tax is probably about 8-9k a year. Oh and for sure i agree you need cash too not just a paid for home.
@@crashtestdummy1972 a nice home here is 250k or so...that's high for RE tax to me ;)
@kyles2232 same here! You can still find reasonable homes in our area! Im glad we dont live in those crazy high cost areas
Proverbs 6:5
“Deliver yourself like a gazelle from the hand of the hunter,
And like a bird from the hand of the fowler.”
Everyone has there own way of paying off debt. I did and that worked for me.
I went in debt buying dave ramsey books and courses.
Lol, this is too funny.
I get it the baby steps work but I disagree with going on vacation... I'm not saying you should go on some extravagant beach vacation but being cooped up not going anywhere can really strain your mental health. Going on vacation can really recharge you and motivate you
Personally I always overspend when vacationing:) because people are so unique better stick to a geral statement. Everybody perceives themselves to "not that type of person "until they end up in the same situation as "those type of people ".
It's only for a short period of time, if you are intense about it.
Depends on the individual. For some people a staycation is much less stressful.
You can't out-earn bad spending habits just like you can't outwork bad eating habits.
Doing well, if I had found Dave at 25 and not 35… I would be 3X then what I am now, pay attention!
“I am HIM” - Dave Ramsey
5:14 I have no payments but a house payment and $21,171 in a mega money market account with 5.05% APY.
There's a reason some people drive $80k vehicles as their nicest vehicles and some people drive $250k vehicles as their nicest vehicles.
Yes you could be giving up too much and may not enjoy it later in life (pass before you plan) but putting your spouse and children in a better situation than crippled with debt isn't such a bad thing
The hilarious thing are the people that still tell you "Dave is out of touch".
Dave should start podcast for us Australians as well
Great plan. I’m surprised that only 4 to 5% of Americans have 13 K in savings with no debt. I always thought most Americans were rich. In my area the restaurants are crowded stores busy, and people spend money like no nothing.
being 55 and completely debt free other than insurance and utilities. Making 42k a year with a huge lump of cash in a MM. I know i could get so far ahead with this cash but the world is so messed up not sure where to turn ugh Cant afford a big correction that I feel is coming.
We usually become what we read and when we read the best books about financial planning, we tend to end up better off.
Many people become financially secure with lower income, and they do it by investing for 50 years and living a frugal life.
Dave's baby steps work and should be taught in our failing Democrat-run public schools.
😂😂😂
I feel like Dave gets angrier and angrier each year 😂🤷🏼♂️
I'm a FPU graduate. I've thought that baby step zero should be a spending plan for the bare minimum, written down, edited often. How else does someone know how much to throw at Baby Step two?
One problem with credit cards people will spend money they don’t have and say oh I’ll pay it later. Later comes then you don’t have the money then you’re screwed. Making minimum payments will charge interest. Don’t spend money you don’t have which means don’t borrow money. A lot of people’s issues with credit cards is they spend money they don’t have and can’t pay it back in full when the bill is due. If you don’t have the money to buy an item then don’t buy they item!! It’s that simple!
11 million people - wow!
honestly i feel like the one thing that ramsey never talks about is the amount you need to be making or rather how to get that amount to actually do the baby steps. like all the other stuff is good stuff but the first step is to have a living income and yeah how do you do that from what i have heard apparently 1 or 2 ways. get the skills needed to stand out for that job that pays enough and or network with people to get that job. and that seems to be it.
His math on buying a home only works for 10% of the US workforce
Suck it up buttercup made me laugh😂😂😂, but it's all true.