I'm from Zambia, a 3rd world African country. I read your book about managing debt and have been following you since. I applied some of your techniques like the snowball effect which helped me get out of the petty debt cycle, its been about 5 months now and i have slowly been growing my retail business ordering stuff from UK,USA & China and I see it growing every couple of weeks for the past 9 months. I'm still far from stability and I don't pay myself anything, technically im a poor person because of my environment but thanks to people like you and the internet, I am learning how to think like a rich person. It hasn't been easy but it has been fun to challenge myself, I honestly believe that if more people applied the information you provide, it would greatly impact social anxiety people face when it comes to issues of finance and economics. Thank you Dave, Keep up the great work, someone is listening.
Yah. Ive been without food for 3 days or of the week for a year. I know how it is to be dirt poor. Never again. I don't Finance anything and I don't buy it unless I really need it, and if I need it I look for a cheaper version of it and then it still look to wheel and deal I'm a lot better now with money that I've ever been to Dave Ramsey has taught me a lot
No one can control what they are born into. They can control staying there though. There is always options, even small, to create improvement in your life even if the only option is your mindset. Either you life in negativity and unhappiness or you see every day of life as a miraculous gift.
I keep trying to explain this to my daughter. When we have spent all of the money we have budgeted for anything for the month, we are broke at that point. The money we have in investments and savings, has nothing to do with that. We are not poor, but we're out of budgeted grocery money, so you have to eat what's in the pantry until the first of the month when we start over.
Nope, he is wise, its simple as that, poor people owns cars & houses, and shit out children, left and right and center, and still can understand, why they have no money 👀
I buy scratch and win. I don't care, I enjoy scratching them, I don't drink, or do drugs. haha. I eat healthily, and I don't drink fancy coffees every day, I don't get manicures or pedicures. Honestly, I have probably won as much as I have spent.
@@violettippet5246 so at best you broke even minus the time wasted.....you have to realize your experiences are anecdotal and do not represent the majority of participants - this a statistically proven fact - not a subjective opinion.... statistically, the lotteries WILL win over the majority of participants, regardless of some lotteries rigging it completely with some employing phony winners as well as bribing regulators to bat an eye.
3of11 agreed. He need to be balanced like this more often, I feel better about supporting him that way lol also he’d have more fans... so,metimes he’s a bit right wing harsh in an ignorant way....I think he knows better but just sounds bad
What I love about this video is that it reenforces that although it's not your fault that the system is rigged against you, it's your responsibility not to be victimized by it. Sure, you didn't get taught basic finance in school, but theres no reason why you can't learn.
sadly there are many problems in this state we have the highest gas taxes for road services and some of the worst roads in the US and most of our seniors dont get to retire they are all working in retail at 70/80 and even 90 years old because there broke and have to...and those very seniors are some of the broke people playing the lottery hoping to win so they can enjoy a few more years and leave their kids with something...I don't regularly play the lottery maybe a $2 scratch off once or twice a year for fun but like all gambling Im paying for the entertainment and dont expect to win anything...Id love to see the lottery go away but Im not sure how negative that would be for our society? would poor people lose hope in a nice future and resort to more theft and violence? what government programs would shut off overnight if it went away? So much is relied upon other things in our government...I think it would be 100% more effective if instead of giving 1 or 2 people a few hundred million they had 10,000 winners each time all get $50-100,000 each lol that would boost the economy much more than one dumb shmo who gets 500 million...Oh BTW that winner gets taxed on the winnings that were all free from the people sooooo much tax revenue from the lottery...
“If you don’t play, then you don’t win.” Was the most common saying when I worked at a gas station. I have seen people blow hundreds of dollars in a week on lottery and win nothing. I tell people to put in a investment account. I got laughed at every time I said it.
I grew up in an impoverished city, and my god I wish this was mandatory to teach in school... It hurts seeing people just dig themselves a deeper hole when they are afraid
I understand what he is saying. If everybody had $100,000,000, somebody would still have to run the water treatment plant if everybody wanted water. Somebody would still have to farm the food if everybody wants to eat. You want to drive a car, somebody has to manufacture it, maintain the roads, refine the gas, etc. So what happens? Prices go up insanely until $100,000,000 is just like $10 bucks, and everybody is back to where they are...at work and struggling.
@@jamie49868 not everyone will ever be Rich, you at least have the drive and the ambition. Some Don't some like having enough to be comfortable!! It take a lot of energy to be driven and Uber ambitious!!!
But isn't that the point. People work a regular job to be just comfortable. Rent goes up constantly because there ain't any no properties being built, its the same buildings and so prices reflect the demand people have for their own home. Only way to stop it would be to price lock or build more places for people to live. Capitalism is at play. You pay what you are willing to spend.
I'm listening to Dave in India, a third world country and his principles work here too. Been listening to him for months and his teachings has at the very least out me on right track, I'm one month away from becoming debt free.
Dont just assume that $50 is pennies to everyone just because it might be to you. If this guy makes $20,000 a year before tax, $50 a check is a lot. And ramsey literally just said its better to invest 5 or 10 dollars instead of putting it in the lottery. Every penny counts. So great job to this guy. Hes got the right idea and that needs to be praised. He could be doing nothing.
@@shayslay3416 Yeah. I don't make a lot of money, but I invest $100 every week into my 401K because my employer matches it. It was hard at first, but I've gotten used to that money being gone before I even get paid.
@@mysticundertow impoverished communities don't have as much education or role models to follow. it's never taught in schools for them. their family are in those communities because they are not able to teach finance or economics to their children.
Years ago my wife and I sat at the shop ready to buy a lottery ticket. I told my wife that if we believe in God’s blessing in our life why do we need to buy into “luck” improving our life? Never touched any form of gambling since then and we are blessed beyond what we imagined.
Lottery is perhaps the ultimate get rich quick scheme. Give someone money and you get a 1 : 175,000,000 chance to win big, you do nothing at all else. No product or business to peddle, just sit back and wait for money to fall out of the sky 😂. Someone is getting rich alright, and it isn't those buying the tickets.
I hear what you are saying, but ….if that were true, no one would ever win. someone wins the jackpot all the time. power-ball and mega-millions are drawn every week, and someone wins with in a month or 2 in general. but that is just one individual, sometimes a group, but never does it seem that it is people who are from the poorest neighborhoods.
I wonder how Dave thinks about the Lottery? My state introduced the scratch off tickets in the 1980's. I bought two $1 tickets the first day because they intentionally put a high number of winning tickets into the initial release. I won $5 on the second ticket and I never bought another one. I'm still $3 up on the Lottery Commission.
I just tell everyone I'm broke to avoid going out and spending money frivolously. It garners a lot more understanding from people instead of explaining that I just don't want to spend money on stupid stuff.
Even in a 3rd world country, mexico to be exact we follow you and belive me all the things you speak also work here, credit cards are a bad virus here too, i got debt free 5 years ago I found one of your book in one of my trips to Texas
It's not the country itself it's the people & the corrupt peña . Because Mexico is bigger than Germany & has more natural resources. So a change of mentality in the people would bring the change .
5:45 please note: in USA, 50% of lottery winnings go straight to the government, as a lottery winner tax. We don't have that in Australia. But still, dropping $20 on a ticket each payday sounds ridiculous.
Jen Rich Only the government can get away with advertising something for one amount and only actually give you half of it in the end. Any other business or person would be criminally prosecuted. I never quite understood why people don’t talk about the lottery more. It needs to be abolished.
ACR They cant do it like that in America because tax rates and tax types vary greatly from place to place. Like my state has no income tax, just the federal income tax, but many states do. Sales taxes also vary widely between places.
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
Julie I didn’t take anything he said that way. He’s holding ALL parties involved accountable. There are money hungry people who take advantage of people who struggle financially. And the people who get taken advantage of won’t smarten up and stop allowing themselves to be taken advantage of. I come from no generational wealth and little to no financial literacy. I see what Dave is talking about every single day.
Hi, I'm an engineering student and I teach physics at few places. After going through your videos I have come across the poor decisions, people have made. I now save all of my money instead of buying gadgets, I've sold the few I had and I take a little money from my parents on which I survive. I save money by choosing the right plans for instance my internet plan (Costs me 6$ a month right now as compared to 22 $ previously), I save on all the things I can and as much as possible. Thanks Mr. Dave and keep up the good work!
The hard thing is convincing people that pennies really do add up. I use the "change in a jar" example. I take the change from any purchase and toss into my cars change holder. I never have lose change, so I get change on every cash transaction I do. Each day I take the change out of my change holder and transfer it to a jar in my kitchen. Some days it's $.47, others $3.09. My gallon jar holds about $70-80 consistently, and I do about 6-7 a year. It's somewhere between $400-600 per year. A couple of quarters, a few dimes, and some nickels in my pocket isn't anything, but $500 is a nice little investment chunk or set of cheap tires for basically free. So yes, saving a few bucks on internet, a couple more on cable, and going to the library instead of buying books you need/want to read, will add up...it all adds up. Good luck.
I wish david ramsey would talk about disabled people on ssi and medicaid they cant invest because you cant invest because you cant be worth more than 2000 or you lose your health insurance and income.Unless you can invest good enough to where you dont need extra income theres really no point in disabled people to invest.I really wish he would bring this up
@@ratgrandma6540 he has on other segments, there was a caller who was on SSI. And he talked at length about it. Also, some disability programs Don't have limits to what you can have!
I agreed with you until 2:52. A lot of people reply on health insurance programs and the government forbids to own more than $2,000 and in some programs make more than 1600~ a month. When your health expenses go over 10k a month it's not feasible.
1. Finish high school. 2. Get a job, participate and try to advance. 3. Don’t have babies until you’re married. If you do those three things you won’t be permanently poor in America. If you add to that doing Dave’s program you’ll probably be wealthy at the end.
walkernick86 It makes a difference if you are true practicing Christian; he is.. if you are not then it doesn’t matter.. however I agree even professed practicing Christians should still wait until they can afford children..
S Chochotte of course they aren’t and I expressed that indirectly in my previous comment..the advice he is offering is for people who profess to be true Christians.. non Christian do according to worldly standards or their own belief system..
Dave Ramsey, thank you for ALL the advise. I always had a Budget and since I started listening to you, I have improved my knowledge and applied your financial principles in my monthly budget.
I am glad to know that you understand how predatory some businesses are in lower socioeconomic neighborhoods. I would never get a payday loan but that’s because I live in an area where it is not readily available to me and my parents taught me better.
I don't believe he would agree with this. See he wants people to avoid debt (credit use) and if he just spoke about not buying lottery tickets because you most likely won't win than i would say no. Live within your means, no credit is recommended. And while you can pay off the card as soon as you use it he mentioned in another video that people tend to spend 12 to 18% more than usual (i believe that is the number) and the companies study us so sometimes don't go into an iffy situation where you many not know it all.
Only if you take out a payday loan to pay the minimum on the card while you drive in a newly leased audi to buy the lotto ticket while you're sipping on a $10 latte that you also purchased with the credit card. hoping that you will win the lottery to pay off $200k of student loan debt for a masters degree in gender studies. only then can you buy them with a credit card
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
@@MarcusFred-wn3iv Very true, If you're looking for help building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@harrisonjamie794 How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@MarcusFred-wn3iv KRISTIN GAIL CUNNINGHAM. On the internet, that’s the financial advisor I use. She’s verified; you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
It’s amazing to me that a business can thrive by telling people to go to work, hard. Pay off your bills. Save money. Give some away. The education that’s not included in our educational system is the most important education.
Hi Dave, I am a first time viewer of your channel. I really enjoyed and appreciate your honesty and experience. Apparently I have been one of the "poor stupid people making bad choices" LOL. I am subscribing to your channel because I really need help turning things around and you seem like someone who genuinly cares and has good advice. Thank you for your refreshing honesty. I will watch the rest of your videos. Thank you!
It feels so good to be debt free. I'm starting to build my emergency fund up and contribute to retirement now. I really don't have the desire to play the lottery anymore . Im focused on doing things that get more fixed results for myself. I live just at the poverty line right now but Im planning to reach middle class in the next few years. Just got to hang in there and save the money it will take to move forward. I wish I could move in with my parents to save more money but our relationship is too fragile for us to live with each other. It would take less than a month and I'd be wanting to move out again.
i live in third world country, i see poor people everywhere and everyday and it can be depressing but I see people try to emerge out of their conditions even when the government hold you down
Dave..dave..dave..you have changed my life..opened my eyes..we are working your plan...already played off car paying down school loans and will be able to buy a house soon with a good down payment...my life will never be the same...thanks and God bless you!
Definitely not just a mindset... Broke: having completely run out of money. Poor: lacking sufficient money to live at a standard considered comfortable or normal in a society
I wish I came across Dave Ramsey between 2007-2016 when I was near broke and doing it tough. I didn't realize it at the time, but I actually had a rich person's mindset.
He may have debt from undergrad, but if he's a PhD in Economics at UVA then he's almost certainly not paying a dime for that PhD. The cost of tuition for PhDs at elite schools is entirely covered by grants and fellowships from private foundations and economic think tanks - most likely a chunk of his living expenses, too. It's UVA, not Southwest Arkahoma State. It's about as elite as a public school gets.
Yes! C'mon Dave! I cringed a bit at the beginning because I just knew our views may have to part ways but You didn't disappoint. I love your videos because I can take what I need and leave what I don't. I enjoyed this video and definitely aligned with a lot of your message in this video. I appreciate your videos. Thank you.
Just an academic note based on experience: A high percentage of graduate students, especially the doctoral variety, end up having their tuition waived while earning a low salary as a graduate assistant. So, it is possible to leave grad school debt free if you live within your means.
Dave is one of the people in this world who gives me hope that not all people are dumb (not saying everyone is dumb, I'm just saying most people are dumb when it comes to money).
I love Dave's videos, he is obviously caring and highly motivated to help people. Unfotunately most comments are by bigots who only wish to denigrate the poor and less fortunate.
Many of the poor people I know seem to enjoy being poor. I glean this because they continuously make choices ensuring they stay poor. They seem to almost enjoy the stress of wasting money on nothing only to have to scrape and scrimp to pay known, foreseen, predictable expenses. They do it time after time after time, all while looking for sympathy from others for how 'hard' it is for them.
And then get a 4000 tax return because you have a lot of kids...not because you paid that much in...... and spend it on tattoos and tinted car windows...and the next week be at the food pantry. Oh the stories I could tell from my last job.
They don't all smoke and drink. Some poor people do live within their means. That is a point ramsey touched on. There are some countries where being wealthy is not very easy because they don't want you to be wealthy. It's a very closed mind when you put everyone in a bubble. It's not to say that some poor people have made decisions where it only keeps them poor. And if you guys (not the one who began this thread) were trying to not say every poor person is this and that then use your words more wisely.
What a loser. Has it ever occurred to you that they don't know a better way? I have NEVER met a poor person that enjoyed their status. But then, my nose isn't scraping the ceiling.
Please stop calling other people names when you disagree with them - You need to expand your circle of friends. I personally know several that do seem to enjoy the drama of 'being poor' - the 'man' is keeping them down, etc. As they are paying rent to slumlords I purchased a house; they beg for gas money from my parents, I budgeted and save; they have parties I do not. I stay employed - they do not. My accountant brother showed them how to live on their income - after two just TWO months they said they didn't like living like that .... my parents enable them ... their friends enable them ... It is a sad mentality that they seem to enjoy - trying to get the sympathy vote from those around them. Not all are like that ... but really ... YOU try to help 'poor' people - it doesn't work - it WILL work with broke people ....... we need to learn, as a society, how to change the 'poor' mentality - we live in the US for goodness sake! the richest country in the world!
I was at the Salvation Army dropping off a food donation two days ago. An individual waiting to eat was playing a ten dollar scratch off. He told me he plays seven tickets at a time.
I love him, but it's not that simple. There is a whole spectrum of mental illness, physical illness, tragedy, trauma, things that happen beyond our control. He never addressed any of that.
Thats true every one has rights to try any which way works to be successful and success has no rules keep pushing you will be there or someone else will be there follow Dave
Dave mentioned something I noticed a looooong time ago, all low income areas in the US are bombarded with Pawn Shops, Pay Day Loans, Speedy Cash, Dollar Stores. I hate this places! Because they take advantage of people by making it easy for them to get fast easy cash. Dollar Store to attract people to spend MORE than a dollar.🤑
Well I am never playing the lotto again, come to think of it all I ever did anyway out of the seldom times I did play was break even so yeah it will be easy to stop! This is Dave Ramsey keeping it real and giving a sister a reality check!
Both been around for more than 80years. AIVSX, PIODX. Have return around 12.13%/year and 11.88%/year over that time. These may be wrong and may not return 12%/year going forward, this is not a recommendation, seek your own independent financial advice, you may end up with less money originally invested.
@@edkennedy7952 Not really. Only in the same way that buying a house is like playing the lottery because its value might drop in the future (even then I'd say a lot of mutual funds are probably lower risk than that in the long run). There's a difference between day trading (gambling on the market) and investing. Don't do the former. Inform yourself before doing the latter.
Amen!!!! I cannot see myself playing lottery, the odds are ridiculous! Not my money. Compound interest with Ally is wonderful! I can plant my money where I can see a return in the longrun!
I'm from Zambia, a 3rd world African country. I read your book about managing debt and have been following you since. I applied some of your techniques like the snowball effect which helped me get out of the petty debt cycle, its been about 5 months now and i have slowly been growing my retail business ordering stuff from UK,USA & China and I see it growing every couple of weeks for the past 9 months. I'm still far from stability and I don't pay myself anything, technically im a poor person because of my environment but thanks to people like you and the internet, I am learning how to think like a rich person. It hasn't been easy but it has been fun to challenge myself, I honestly believe that if more people applied the information you provide, it would greatly impact social anxiety people face when it comes to issues of finance and economics.
Thank you Dave, Keep up the great work, someone is listening.
I'm across the ocean, in the USA, but in case no one has told you this, I am so so so proud of you! Look at you GO.
@@SariennMusic73 wow, thank you very much 😊😊.
Lord aku. I hope you become more and more successful! Good job!
@@abrahemsamander3967 Hi Abrahem, thank you for your encouraging words. I appreciate it and I hope for the same for you too. Good day.
Great for you Lord Aku! I agree, Dave is one of the wisest advisers out there. Stay strong and happy. Keep us posted.
You are like the frikin caffein in my coffee. I listen to you every frikin day to help me stay on track. Bless you Dave.
Manu John they mean Dave keeps them going, just like coffee keeps you going. It’s not dumb, don’t be rude.
Manu John its true though
Manu John says the guys who liked the autotune version of aint nobody got time for that. 🤦🏻♂️ ignorant people saying ignorant things.
looove Dave!!!! wise biblical principles ! huh imagine that, funny how that works eh? (i'm Canadian eh! LOL)
Manu John the reach
Poor is a mindset. Broke is something you go through. Thanks Dave!
Sitting in this laundromat I’ve realized even at my worst I was still well off compared to others
Yah. Ive been without food for 3 days or of the week for a year.
I know how it is to be dirt poor. Never again. I don't Finance anything and I don't buy it unless I really need it, and if I need it I look for a cheaper version of it and then it still look to wheel and deal I'm a lot better now with money that I've ever been to Dave Ramsey has taught me a lot
@@crow-vz5lxI've had negative balancce.
Great speech 👍
chris p
intermate fasting
same
Thank you for acknowledging that poverty isn't always a moral failing of an individual ❤
No one can control what they are born into. They can control staying there though. There is always options, even small, to create improvement in your life even if the only option is your mindset. Either you life in negativity and unhappiness or you see every day of life as a miraculous gift.
PrepareForFlight doesn’t matter what you tell them.., they have been taught to ignore western “knowledge “...They are told it’s false propaganda.
PrepareForFlight I agree with you.
Thank you Dave
No one makes you feel worse for being poor than a church.
I keep trying to explain this to my daughter. When we have spent all of the money we have budgeted for anything for the month, we are broke at that point. The money we have in investments and savings, has nothing to do with that. We are not poor, but we're out of budgeted grocery money, so you have to eat what's in the pantry until the first of the month when we start over.
Uhh.. bro, you're poor.
Nope, he is wise, its simple as that, poor people owns cars & houses, and shit out children, left and right and center, and still can understand, why they have no money 👀
‘Lottery is a tax on stupid people that can’t do math” 🤣🤣🤣
That's a heck of a way for the government to look at weak people. If the lottery was REALLY for education, it would cease to exist.
I buy scratch and win. I don't care, I enjoy scratching them, I don't drink, or do drugs. haha. I eat healthily, and I don't drink fancy coffees every day, I don't get manicures or pedicures. Honestly, I have probably won as much as I have spent.
@@violettippet5246 so at best you broke even minus the time wasted.....you have to realize your experiences are anecdotal and do not represent the majority of participants - this a statistically proven fact - not a subjective opinion.... statistically, the lotteries WILL win over the majority of participants, regardless of some lotteries rigging it completely with some employing phony winners as well as bribing regulators to bat an eye.
I always say: you can’t chose where you were born or your parents, but you can chose your future !!!
I like when Dave Ramsey sound both like a Democrat and a Republican in the same rant!
3of11 exactly what did he say that sounded like a Democrat?
What did he say that resembles a democrat in any way shape or form
i sort of agree, he's neutral politically. His belief system comes more from common-sense and has no agenda other than genuinely helping people
@@BadBrad119 He's extremely conservative. You said he follows common sense, so that makes sense
3of11 agreed. He need to be balanced like this more often, I feel better about supporting him that way lol also he’d have more fans... so,metimes he’s a bit right wing harsh in an ignorant way....I think he knows better but just sounds bad
What I love about this video is that it reenforces that although it's not your fault that the system is rigged against you, it's your responsibility not to be victimized by it. Sure, you didn't get taught basic finance in school, but theres no reason why you can't learn.
Know who wins every time you play the lottery? The Government.
droptozro Amen
It's a tax on poor people.
well depends where you live here in PA the lottery fund a lot of senior programs for the state...
sadly there are many problems in this state we have the highest gas taxes for road services and some of the worst roads in the US and most of our seniors dont get to retire they are all working in retail at 70/80 and even 90 years old because there broke and have to...and those very seniors are some of the broke people playing the lottery hoping to win so they can enjoy a few more years and leave their kids with something...I don't regularly play the lottery maybe a $2 scratch off once or twice a year for fun but like all gambling Im paying for the entertainment and dont expect to win anything...Id love to see the lottery go away but Im not sure how negative that would be for our society? would poor people lose hope in a nice future and resort to more theft and violence? what government programs would shut off overnight if it went away? So much is relied upon other things in our government...I think it would be 100% more effective if instead of giving 1 or 2 people a few hundred million they had 10,000 winners each time all get $50-100,000 each lol that would boost the economy much more than one dumb shmo who gets 500 million...Oh BTW that winner gets taxed on the winnings that were all free from the people sooooo much tax revenue from the lottery...
W K you cant win if you don’t play.
“If you don’t play, then you don’t win.” Was the most common saying when I worked at a gas station. I have seen people blow hundreds of dollars in a week on lottery and win nothing. I tell people to put in a investment account. I got laughed at every time I said it.
"I was so broke, I could not pay attention"
-Dave Ramsey
Let that sink in...
like I say at work "I'm not here a for a good time but for a time long time.
@@sitka49 that’s a horrible saying to say at work lol
He didn't coin that saying. It's a very old one.
me currently
I can’t be the only one addicted to Dave’s philosophy 😂
I grew up in an impoverished city, and my god I wish this was mandatory to teach in school... It hurts seeing people just dig themselves a deeper hole when they are afraid
if everyone was rich no one would be
@@Victor-ko1xt not true, this isn't a zero some game. Or fixed pie chart!!
Anyone could have any amount of money and it doesn't affect anyone else!!
I understand what he is saying. If everybody had $100,000,000, somebody would still have to run the water treatment plant if everybody wanted water. Somebody would still have to farm the food if everybody wants to eat. You want to drive a car, somebody has to manufacture it, maintain the roads, refine the gas, etc. So what happens? Prices go up insanely until $100,000,000 is just like $10 bucks, and everybody is back to where they are...at work and struggling.
@@jamie49868 not everyone will ever be Rich, you at least have the drive and the ambition. Some Don't some like having enough to be comfortable!! It take a lot of energy to be driven and Uber ambitious!!!
But isn't that the point. People work a regular job to be just comfortable. Rent goes up constantly because there ain't any no properties being built, its the same buildings and so prices reflect the demand people have for their own home. Only way to stop it would be to price lock or build more places for people to live. Capitalism is at play. You pay what you are willing to spend.
I'm listening to Dave in India, a third world country and his principles work here too. Been listening to him for months and his teachings has at the very least out me on right track, I'm one month away from becoming debt free.
Awesome 👏!!!!! Love this
And just like that, my 401k contribution jumps to 50 a paycheck
truueee
@Jokeasterfe I think he means 50%. Atleast I hope he does, everyone could probably do more than 50$.
Dont just assume that $50 is pennies to everyone just because it might be to you. If this guy makes $20,000 a year before tax, $50 a check is a lot.
And ramsey literally just said its better to invest 5 or 10 dollars instead of putting it in the lottery. Every penny counts. So great job to this guy. Hes got the right idea and that needs to be praised. He could be doing nothing.
@@shayslay3416 Yeah. I don't make a lot of money, but I invest $100 every week into my 401K because my employer matches it. It was hard at first, but I've gotten used to that money being gone before I even get paid.
Miss Priss you’ve Got the right idea, I’d rather struggle now that at 65
“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.” - Robert Kiyosaki
If you remain poor in an economy that you can grow it, that is on you.
Eeeeeeh😅
@@mysticundertow impoverished communities don't have as much education or role models to follow. it's never taught in schools for them. their family are in those communities because they are not able to teach finance or economics to their children.
I don't even THINK about buying lottery tickets, but Dave's got me feeling guilty with that tongue-lashing.
You should feel good. He is praising you 🤗🌷
Hah you're right, maybe it's second-hand guilt for those poor folks? Who knows.
I think the PHD candidate meant that Poor people buy lottery tickets because they "Believe" it is their only path towards upward mobility.
He does? Well, I feel like buying a lottery ticket just to SPITE HIM!!!
I don’t buy lottery tickets or go to bingo because that’s means I’m trusting god.
Years ago my wife and I sat at the shop ready to buy a lottery ticket. I told my wife that if we believe in God’s blessing in our life why do we need to buy into “luck” improving our life?
Never touched any form of gambling since then and we are blessed beyond what we imagined.
1:15 “oppressed...you don’t hear that much anymore” clearly Dave has never read Buzzfeed 😂😂
Goofballs love that term. I actually laughed when someone told me they were oppressed because they spen too much money
Some people don't make social media their life. That's something to look up to.
Andrew F I was thinking the same thing.
that's why he's rich
Adults don't read Buzzfeed.
Children do.
Lottery is perhaps the ultimate get rich quick scheme. Give someone money and you get a 1 : 175,000,000 chance to win big, you do nothing at all else. No product or business to peddle, just sit back and wait for money to fall out of the sky 😂. Someone is getting rich alright, and it isn't those buying the tickets.
I hear what you are saying, but ….if that were true, no one would ever win. someone wins the jackpot all the time. power-ball and mega-millions are drawn every week, and someone wins with in a month or 2 in general. but that is just one individual, sometimes a group, but never does it seem that it is people who are from the poorest neighborhoods.
I wonder how Dave thinks about the Lottery? My state introduced the scratch off tickets in the 1980's. I bought two $1 tickets the first day because they intentionally put a high number of winning tickets into the initial release. I won $5 on the second ticket and I never bought another one. I'm still $3 up on the Lottery Commission.
How to forget the time I won 50 cents... I can tell the story.
I love watching this show everyday. My decisions with money has changed remarkably since I started watching this show. Dave, you are the best.
I just tell everyone I'm broke to avoid going out and spending money frivolously. It garners a lot more understanding from people instead of explaining that I just don't want to spend money on stupid stuff.
😂
I usually say “my budget won’t allow it “ or “I’ve gotta pay off some debts first “….
Even in a 3rd world country, mexico to be exact we follow you and belive me all the things you speak also work here, credit cards are a bad virus here too, i got debt free 5 years ago I found one of your book in one of my trips to Texas
Rigo Cornejo 2nd world compa Tampoco no vives en Venezuela no mames. Financial education can be useful anywhere.
Mexico is a third world country? 🤔
@@flix8037 yes 3er world country
It's not the country itself it's the people & the corrupt peña . Because Mexico is bigger than Germany & has more natural resources. So a change of mentality in the people would bring the change .
I'm glad to hear someone in Mexico is getting this too. Everyone needs to know
5:45 please note: in USA, 50% of lottery winnings go straight to the government, as a lottery winner tax. We don't have that in Australia. But still, dropping $20 on a ticket each payday sounds ridiculous.
Jen Rich 20.00on Lottery tickets and I might win?! I don't like those odds!
Jen Rich Only the government can get away with advertising something for one amount and only actually give you half of it in the end. Any other business or person would be criminally prosecuted. I never quite understood why people don’t talk about the lottery more. It needs to be abolished.
Jen Rich You dont pay income tax in Australia? How would you not pay taxes on huge lottery winnings?
we do pay the taxes on lottery in Aus, the difference is the lottery can only advertise the take home amount not the full amount
ACR They cant do it like that in America because tax rates and tax types vary greatly from place to place. Like my state has no income tax, just the federal income tax, but many states do. Sales taxes also vary widely between places.
I genuinely mean it when I express my stress and concern regarding the market crash and high inflation, particularly in relation to my retirement. I have been experiencing losses for quite some time, and while some may argue that crises can present opportunities, I am feeling overwhelmed. However, I understand that investing is a long-term endeavor, and it is crucial to maintain focus on the bigger picture and the long run.
I have experienced significant losses, and I am holding on with the hope of recovering them. It is evident that I am in dire need of assistance
It seems that *JENNY PAMOGAS CANAYA* possesses extensive knowledge and a strong educational background
“Your a PhD student honey, you haven’t lived in the real world long.” 😂😂
😅🤭
Sounds like my past roommate lol
No one:
Dave Ramsey: ......(hopeless, in-debt person ask question for meaningful, awe-inspiring answer). Dave's answer: "Because you were stupid."
😅😁😄
😅🤭
@Julie he's just being honest
Julie I didn’t take anything he said that way. He’s holding ALL parties involved accountable. There are money hungry people who take advantage of people who struggle financially. And the people who get taken advantage of won’t smarten up and stop allowing themselves to be taken advantage of.
I come from no generational wealth and little to no financial literacy. I see what Dave is talking about every single day.
Hi, I'm an engineering student and I teach physics at few places. After going through your videos I have come across the poor decisions, people have made. I now save all of my money instead of buying gadgets, I've sold the few I had and I take a little money from my parents on which I survive. I save money by choosing the right plans for instance my internet plan (Costs me 6$ a month right now as compared to 22 $ previously), I save on all the things I can and as much as possible. Thanks Mr. Dave and keep up the good work!
The hard thing is convincing people that pennies really do add up. I use the "change in a jar" example. I take the change from any purchase and toss into my cars change holder. I never have lose change, so I get change on every cash transaction I do. Each day I take the change out of my change holder and transfer it to a jar in my kitchen. Some days it's $.47, others $3.09. My gallon jar holds about $70-80 consistently, and I do about 6-7 a year. It's somewhere between $400-600 per year. A couple of quarters, a few dimes, and some nickels in my pocket isn't anything, but $500 is a nice little investment chunk or set of cheap tires for basically free. So yes, saving a few bucks on internet, a couple more on cable, and going to the library instead of buying books you need/want to read, will add up...it all adds up. Good luck.
Thanks for reading my comment. At least someone's there who understands it.
While I'm waiting in line for gas or buying snacks at 7 11 It never cease to amaze me the amount of money folks dump into the lottery it's insane
MyNameIsCorey the lottery is a tax for stupid people.
I wish david ramsey would talk about disabled people on ssi and medicaid they cant invest because you cant invest because you cant be worth more than 2000 or you lose your health insurance and income.Unless you can invest good enough to where you dont need extra income theres really no point in disabled people to invest.I really wish he would bring this up
Snacks at 7-11 are grossly overpriced. I’m not sure you have a high horse from which to be boggled at the lottery-players. 😄
@@michellekulas282 I know right😂
@@ratgrandma6540 he has on other segments, there was a caller who was on SSI. And he talked at length about it.
Also, some disability programs Don't have limits to what you can have!
I agreed with you until 2:52. A lot of people reply on health insurance programs and the government forbids to own more than $2,000 and in some programs make more than 1600~ a month. When your health expenses go over 10k a month it's not feasible.
1. Finish high school.
2. Get a job, participate and try to advance.
3. Don’t have babies until you’re married.
If you do those three things you won’t be permanently poor in America. If you add to that doing Dave’s program you’ll probably be wealthy at the end.
Gregory M. Peters, MD also, don’t get married unless you can afford it or you and your partner are on the same page. Great points!
Marriage has what to do with it? Don’t have kids till marriage? Should be ‘don’t have kids till you can afford them. Married or not! Doesn’t matter!!!
walkernick86
It makes a difference if you are true practicing Christian; he is.. if you are not then it doesn’t matter.. however I agree even professed practicing Christians should still wait until they can afford children..
Winnie Johnson everyone isn’t a Christian.
S Chochotte of course they aren’t and I expressed that indirectly in my previous comment..the advice he is offering is for people who profess to be true Christians.. non Christian do according to worldly standards or their own belief system..
You got a better chance getting hit by a car going to the store to get lottery tickets than actually winning a lottery here in FL!
@Brian Waller wow If that's true then it is a genius plan from the government to squeeze money out of the poor people.
Dave Ramsey, thank you for ALL the advise. I always had a Budget and since I started listening to you, I have improved my knowledge and applied your financial principles in my monthly budget.
I am glad to know that you understand how predatory some businesses are in lower socioeconomic neighborhoods. I would never get a payday loan but that’s because I live in an area where it is not readily available to me and my parents taught me better.
So is it ok to buy lottery tickets with a credit card? Asking for a friend
lol
Only if your friend pays the minimum each month on that card.
I don't believe he would agree with this. See he wants people to avoid debt (credit use) and if he just spoke about not buying lottery tickets because you most likely won't win than i would say no. Live within your means, no credit is recommended. And while you can pay off the card as soon as you use it he mentioned in another video that people tend to spend 12 to 18% more than usual (i believe that is the number) and the companies study us so sometimes don't go into an iffy situation where you many not know it all.
Only if you take out a payday loan to pay the minimum on the card lol
Only if you take out a payday loan to pay the minimum on the card while you drive in a newly leased audi to buy the lotto ticket while you're sipping on a $10 latte that you also purchased with the credit card. hoping that you will win the lottery to pay off $200k of student loan debt for a masters degree in gender studies. only then can you buy them with a credit card
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
As you plan your retirement, be sure to
talk with a financial advisor who can help you make the most of your retirement investing scheme.
@@MarcusFred-wn3iv Very true, If you're looking for help
building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@harrisonjamie794 How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@MarcusFred-wn3iv KRISTIN GAIL CUNNINGHAM. On the internet, that’s the financial advisor I use. She’s verified; you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
@@harrisonjamie794 Thank you so much! Found her webpage and left a message. Hopefully, she responds.
4:40 At the moment he looks up when he read "PhD" and "University of Virginia," I was like "Oh, no." 😂
You are one of the most honest guys I have seen.
Disability should've been addressed in reasons for poverty.
It’s amazing to me that a business can thrive by telling people to go to work, hard. Pay off your bills. Save money. Give some away. The education that’s not included in our educational system is the most important education.
Thanks, Pursuit of freedom! There's a lot of truth to your statement. = )
yeah i just say you guys can fuck right off. thankyou :D
"If you plant corn, you will grow corn."
Mind = blown 🤯
😂😂😂😂😂
Then you live in a corn hut
or... as they say in the hood. A corn crib
“Wa-lah”🪄😂
Poor is forever, broke is temporary. Rich dad poor dad 😊
“Wonder how much debt he’s got”
Laughed out loud
Hi Dave, I am a first time viewer of your channel. I really enjoyed and appreciate your honesty and experience. Apparently I have been one of the "poor stupid people making bad choices" LOL. I am subscribing to your channel because I really need help turning things around and you seem like someone who genuinly cares and has good advice. Thank you for your refreshing honesty. I will watch the rest of your videos. Thank you!
It feels so good to be debt free. I'm starting to build my emergency fund up and contribute to retirement now. I really don't have the desire to play the lottery anymore . Im focused on doing things that get more fixed results for myself. I live just at the poverty line right now but Im planning to reach middle class in the next few years. Just got to hang in there and save the money it will take to move forward. I wish I could move in with my parents to save more money but our relationship is too fragile for us to live with each other. It would take less than a month and I'd be wanting to move out again.
Dave Ramsey is a true motivator. I've currently stepped out on faith and got a promotion at work and me and my wife are starting the baby steps.
i live in third world country, i see poor people everywhere and everyday and it can be depressing
but I see people try to emerge out of their conditions even when the government hold you down
thats awesome but its not the norm..so dont take it as Dave says it impossible just abnormal...which it is...
When the lottery started in Texas years ago, we were told it was for education. ha ha ha
I'm glad somebody with a platform puts these predatory LENDING businesses on blast 👍👏💪👊
Agreed 👍
Dave..dave..dave..you have changed my life..opened my eyes..we are working your plan...already played off car paying down school loans and will be able to buy a house soon with a good down payment...my life will never be the same...thanks and God bless you!
4:52 *That 3 second pause though 😂😂*
Definitely not just a mindset...
Broke: having completely run out of money.
Poor: lacking sufficient money to live at a standard considered comfortable or normal in a society
I don't even want to know how much debt Jonathan has 🤣🤣🤣🤣🤣🤣🤣
It's hard to grow your corn and keep it from being seized, when the rent on land keeps skyrocketing.
I love ramsey's rants. He's the father I never had
I wish I came across Dave Ramsey between 2007-2016 when I was near broke and doing it tough. I didn't realize it at the time, but I actually had a rich person's mindset.
Don’t forget about the Coke, Candy Bar, and pack of cigarettes they buy at the same time they get the lottery tickets.
Speak that truth, Mr. Ramsey!!!! 100% legit!
this just reminded me to buy the lotto for the weekend. Its getting up there..! lol
“I don’t even wanna know how much debt Jonathan has..” 😂😂
I wondered if anyone else thought that was the funniest thing they heard all day
Fool paid a ton for that PhD
He may have debt from undergrad, but if he's a PhD in Economics at UVA then he's almost certainly not paying a dime for that PhD. The cost of tuition for PhDs at elite schools is entirely covered by grants and fellowships from private foundations and economic think tanks - most likely a chunk of his living expenses, too. It's UVA, not Southwest Arkahoma State. It's about as elite as a public school gets.
@@tymom9313 Ph.D. pays me
Per usual you make too much sense. Always enjoy the effort and delivery. Keep doing it Dave
His voice change at 6:08 always makes me laugh! Hahahahaha he almost sounds like Cleveland Brown
Yes! C'mon Dave! I cringed a bit at the beginning because I just knew our views may have to part ways but You didn't disappoint.
I love your videos because I can take what I need and leave what I don't. I enjoyed this video and definitely aligned with a lot of your message in this video.
I appreciate your videos.
Thank you.
Poor is no income, broke is no money.
This is the best ramsy video ment straight for me 😢 I'm poor and lose thousands on scratch offs every year I hear you dave 😭
I don't always agree with Dave but in this case he's 100% right.
Just an academic note based on experience: A high percentage of graduate students, especially the doctoral variety, end up having their tuition waived while earning a low salary as a graduate assistant. So, it is possible to leave grad school debt free if you live within your means.
I love when when Dave goes in on these people that have no idea what their talking about lol
I have learned so much watching you .I’ve after 54 years of marriage JUST STARTED A BUDGET now we have money left over we were STUPID
Dave,
I am going to pay off my debts finally!! Moving funds to to my account paying off my 15000 car and 12000 credit card Whoot.
Thanks for sharing another great video!!!👍👍👍☺️☺️☺️💗💝💜💙💚💛
i’m broke and poor
Maggie Lara 😂
Same
Yeah, me too
Maggie Lara
lol...you need to stop spending money.
Jenny M i live in california 😭
Dave is one of the people in this world who gives me hope that not all people are dumb (not saying everyone is dumb, I'm just saying most people are dumb when it comes to money).
Three words, one feeling:
Dave Ramsey rant.
Dave Ramsey is my new obsession. I live for the Dave Ramsey rants! So true poor habits fuel poor rich 🤑 habits make you rich!!!
Waiting for investing hustler to post some random comment boasting as per usual
Aaron: i come from a wealthy suburb. No one NO ONE ever talked about their money. EVER.
So i call fake on him. Sorry IH
@C B maybe this is the start of a new revolution again his spam and pointless comments
@C B he shouldn't under estimate us
LOL!
aaron white thanks for calling out that loser. Hopefully we can scare him off from posting here. Spread the word.
Dave is awesome 👏🏾 😎! Thank you for the reality check. I love it!!!!
I accidently left on the 1.5x speed and I was like " wow, he is speaking super fast and no pause at all lol
SPEAKING TRUTH TO POWER!
“Listen Snowflake”
I'm not in the US but the great thing about your advice is that its applicable anywhere in the world
2:30 "Listen Snowflake" I love this guy!
I love Dave's videos, he is obviously caring and highly motivated to help people. Unfotunately most comments are by bigots who only wish to denigrate the poor and less fortunate.
Many of the poor people I know seem to enjoy being poor. I glean this because they continuously make choices ensuring they stay poor. They seem to almost enjoy the stress of wasting money on nothing only to have to scrape and scrimp to pay known, foreseen, predictable expenses. They do it time after time after time, all while looking for sympathy from others for how 'hard' it is for them.
And then get a 4000 tax return because you have a lot of kids...not because you paid that much in...... and spend it on tattoos and tinted car windows...and the next week be at the food pantry. Oh the stories I could tell from my last job.
and when they got some money, they drink, smoke,...
They don't all smoke and drink. Some poor people do live within their means. That is a point ramsey touched on. There are some countries where being wealthy is not very easy because they don't want you to be wealthy. It's a very closed mind when you put everyone in a bubble. It's not to say that some poor people have made decisions where it only keeps them poor. And if you guys (not the one who began this thread) were trying to not say every poor person is this and that then use your words more wisely.
What a loser. Has it ever occurred to you that they don't know a better way? I have NEVER met a poor person that enjoyed their status. But then, my nose isn't scraping the ceiling.
Please stop calling other people names when you disagree with them - You need to expand your circle of friends.
I personally know several that do seem to enjoy the drama of 'being poor' - the 'man' is keeping them down, etc. As they are paying rent to slumlords I purchased a house; they beg for gas money from my parents, I budgeted and save; they have parties I do not. I stay employed - they do not. My accountant brother showed them how to live on their income - after two just TWO months they said they didn't like living like that .... my parents enable them ... their friends enable them ...
It is a sad mentality that they seem to enjoy - trying to get the sympathy vote from those around them. Not all are like that ... but really ... YOU try to help 'poor' people - it doesn't work - it WILL work with broke people ....... we need to learn, as a society, how to change the 'poor' mentality - we live in the US for goodness sake! the richest country in the world!
Dave Ramsey you are a blessing!
Lottery. It is a tax for people who dont know math and risk.
Someone has to rob them though. Whether it's the pope or the government or the guy that claims he'll make them rich quickly and easily.
I was at the Salvation Army dropping off a food donation two days ago. An individual waiting to eat was playing a ten dollar scratch off. He told me he plays seven tickets at a time.
I love him, but it's not that simple. There is a whole spectrum of mental illness, physical illness, tragedy, trauma, things that happen beyond our control. He never addressed any of that.
It is simple, but it's not easy.
Thats true every one has rights to try any which way works to be successful and success has no rules keep pushing you will be there or someone else will be there follow Dave
Let's get rich together
Who gives this amazing wisdom a dislike? Must be those that complain about their own misfortunes.
I see a lot of poor people on Instagram look like they got money they got Jordan's cars.. balling🤣🤣🤣
I loves that you called out the PROSPECTIVE GRAD STUDENT.
College inflates your ego and it takes an OG to bring you back to real world.
Dave mentioned something I noticed a looooong time ago, all low income areas in the US are bombarded with Pawn Shops, Pay Day Loans, Speedy Cash, Dollar Stores. I hate this places! Because they take advantage of people by making it easy for them to get fast easy cash. Dollar Store to attract people to spend MORE than a dollar.🤑
Well I am never playing the lotto again, come to think of it all I ever did anyway out of the seldom times I did play was break even so yeah it will be easy to stop! This is Dave Ramsey keeping it real and giving a sister a reality check!
What is this growth stock mutual fund you speak of?
VFINX. You’re welcome
Both been around for more than 80years. AIVSX, PIODX. Have return around 12.13%/year and 11.88%/year over that time.
These may be wrong and may not return 12%/year going forward, this is not a recommendation, seek your own independent financial advice, you may end up with less money originally invested.
Right, he forgot to mention the FACT Mutual funds is like playing the lottery to.
@@edkennedy7952 Not really. Only in the same way that buying a house is like playing the lottery because its value might drop in the future (even then I'd say a lot of mutual funds are probably lower risk than that in the long run). There's a difference between day trading (gambling on the market) and investing. Don't do the former. Inform yourself before doing the latter.
When I need motivation I watch a Dave Ramsey video.
"So broke I couldn't pay attention....."
😂😂😂😂😂😂
That comment he made, made me laugh.
Amen!!!! I cannot see myself playing lottery, the odds are ridiculous! Not my money. Compound interest with Ally is wonderful! I can plant my money where I can see a return in the longrun!