I used to spend $1,200 a month on two car payments! That was insane! Now, I have no car payments and no house payment. Still, I constantly have to remind myself just how fortunate that I am. My wife and I vacation three to four times a year and this reminds me of how being out of debt is good! If I can’t pay cash then it doesn’t get done!
Best statement was at the end. "I could buy anything in the mall, and I didn't want any of it" I felt that as well once I hit financial independence. It's a truly bizarre feeling when you realize you don't need more "stuff" once you pay cash for everything.
This is a true statement. Once you don’t have to worry about money you are in no rush to spend it because you know you can have whatever you want whenever you want it. So impulse buying isn’t an issue anymore
I wonder if it has anything to do with re-wiring our dopamine response to seeing the savings go up instead of wanting to go out and buy more useless stuff?
yeah, then one day you realized that your saving can only buy maybe 2/3 of the same stuff than you would be able to one year ago. Save all you want, inflation don’t care
Debt free baby. My grandfather who was born in 1907 told me, “cash or check, you have the money or you don’t.” For years I never owned a credit card until I tried to rent a car. I have a credit card only for online purchases, incidentals, gas pump but pay it off right away. I own everything outright. Through hard work, saving, investing, living below my means, discipline…financially I’m in great shape.
Yeah until you die, then it was all for nothing - we are on this earth for a short period of time. Unless you started out having no debt, it is very hard to get out of it. That is the problem. Yeah, this guy has some good points, but some credit cards have saved me. Unless you are rich, it's very hard to just live on Money only.
I'm in the U.K. and have lived like this guy for 25 years. It's the only way to be, I can totally agree. I earn a good income, I've been screwed by divorce by a woman who wants all the best things. I'm still on top though as I don't want for material goods since my divorce. I have the safety of my savings that's all I need it for. I'm on my own with no family except my loving daughter. That's what I care for more than anything.
Was in the same boat as you....since the divorce and working all I could mentally withstand...I have more money now and no desire for nothing in life but peace within myself....you know why divorces are exspensive ?.....cuase their worth it
Years ago, I started with Baby Step1, I am now at Baby Step 7. Looking back now, its astonishing to me how simple this formula is. The harder you work up front, its all down hill towards the end, it took me 4 years to knock out steps 1-4, but I did it buy myself with 55K in debt. Just follow the Steps. Dave is a Genius...just my opinion with receipts to back it up.
Hello Nate. Have you ever read this? Proverbs 13:22: A good man leaves an inheritance to his children's children, but the wealth of the sinner is stored up for the righteous. In God's book, a good man thinks generationally. He does not just prepare for his children's future, but for his grandchildren's. Once I read that, I started praying for the wisdom to teach my own children how to be fiscally responsible so that they won't squander their inheritance. If they don't learn some of the lessons I've learned the inheritance will not reach the third generation. This word of God changed my life. It expanded my perspective.
Dave is right: I have no debt, good savings/investments, and when I walk through a shopping mall knowing I could buy anything I want, I don’t want anything. It’s a bit strange.
Definitely true about debt is aggressively marketed. I also have that fond memory when I bought my car in 2010 and my opening statements to the car dealers were 'First thing: I'm not financing', They gave me a crazy look, then I said it again (I still had student loans back then, so I couldn't afford more debt, but I had a ton of savings too). Also, years later, a coworker wasn't fond of my car choice and my response was 'Its paid for!'.
I recently sold a property in Portland and am considering investing the proceeds in stocks. I know everyone says the market is ripe, but is it a good time to buy stocks? How long will it take for you to fully recover? I'm genuinely baffled at this stage as to how other folks in the same market are raking in over $450k gains in months.
I agree, having a brokerage advisor for inveesting is genius! Amidst the financial crisis in 2008, I was really having inveesting nightmare prior touching base with a advisor. In a nutshell, i've accrued over $850k with the help of my advisor from an initial $120k investment.
There are a lot of independent advisors you might look into. But i work with Carol Pasol Lewis and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her.
Excellent advice. I never borrowed money, and never made dept. I do use credit cards to avoid carrying cash, but I never spend more than I can pay before due. I never spend more than I can pay for. I never have to pay interest. I invest my available money in to the equities markets to make dividends. I add the dividends back in to my investments.
Well i carry cash not to use a cc! I take shopping only what i feel is necessary. If I use a cc I always spend more. However i do use it for groceries and gas.
I’ll keep this really simple: if you change your mindset/perspective/relationship with money, you will inevitably change your financial position… so, get to work and good luck to all!
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam. Though I started with $1000 but it was successful, it's been four months since I started investing with her and it's been a great experience
The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I start investing my cash in other to achieve all my dream with the help of Lucy Mary Liam. The difference Mrs Lucy Mary make in my life is second to none. It's definitely a life changing kindness. I really appreciate her effort in my life time.
Wow I'm just surprised someone mentioned Expert Mrs Lucy Mary Liam I thought I'm the only one trading with her. I also trade with her and i earn $5,000 every week, all my family have been trading with her and making profits, we love you Mrs Lucy Mary
@@emilymccord7063You don't have to be surprised because I'm also a huge beneficiary of her good works. She helped me recover what I lost trying to trade my self and I'm still earning a lot of profit monthly.. I invested $8,500 through Mrs Lucy Mary Liam and in one month I made to close $70,300
Ever since I lost my job with the ministry I have been surviving through my investment with Mrs Lucy Mary Liam, I'm so glad I invested when I did. My first experience with Mrs Lucy Mary Liam give me the assurance to invest the more with her without the fear of losing She's awesome.
My grandparents were farmers that survived the 1930s great depression. They were successful later on but lived the same way as during the depression. They died multi-millionairs and the money was passed to their 4 children. My mother invested that money and never touched it and continued to work and live her same lifestyle. She died a millionaire and passed the money to her 2 kids. I have invested my portion into other assets and continued to work. Now retired I live off passive income from the assets and will pass that down to my children. But I recognize the sacrifices made by my parents and grandparents to achieve that level of success and legacy.
I think the major problem here is that most people need to pay rent if they do not buy a house, and the rent is about equal size to their monthly mortgage payment (if they buy a house). Therefore, you will not have the $1 million dollar to invest anyway, since you either have to pay all that money to your landlord/landlady or at least a portion of the mortgage payment goes to and contributing to the property that you are trying to buy.
As far as I have seen, the size of the mortgages tend to be bigger than the rents during the first years (it gets smaller when the debt gets smaller), and if you own your own house you generally end spending more in house maintenence/improving, so it's not a clear cut answer if you would end paying more in interests with a mortgage vs paying rent and saving/investing and then buying the house. However some advantage of renting vs paying a mortgage is the flexibility, you can rent a place that satisfies just your present needs (instead of paying extra for possible future needs) and when your needs change, you can easily move and rent another place. For example, if you are single you can just rent a single room or share the rent with co-workers. If you are married but with no kids, you can rent a single bedroom condo and only move to a 2 bedroom place when(and if) you are having a baby. All the money that you would not pay for the rent of a big house could be saved and invested during all the years in those circumstances.
Starting early is the best way of getting ahead to build wealth,investing remains the priority. Forex trading has plenty of opportunities to earn a decent payout,with the right skills and proper understanding of how the market works
Try buying a house for cash, without mortagae debt, whilst paying rent at the same time, while the house market trends upwards over months, years and decades. Debt to purchase an appreciating asset is smart, if you have a stable financial history and the potential to earn income on a reliable basis, if you don't, then stick to government assisted property, if available in your country, also avoid casual debt and learn to live without non-essential items.
I agree, I follow the Jimmy Carter logic too....I did not get into the Reagan Era " You have Equity in your Home, tap, tap, tap into your Homes Equity." and here we are today...Home values are way over valued and people tap into their fake equity to this day....To know the Future, you must know the past.
Yes Carter is a good failure to learn from. 444 day spanking has lines very high gas prices very high interest rates . How young are you don't recall my house 🏠 hog tiring me or Reagan hogtieing me and getting a second mortgage or making me
Mr. Ramsey's advice is reasonable but his explanation avoids telling people the blunt truth; it's not the debt per se, but the underlying immaturity and lack of self-discipline that leads people to being encumbered by debt. The rest of his message used to be called common sense.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portf0lios this quarter. How can I pr0fit from the current volatile market, l'm still at a crossroads deciding if to liquidate my $400k bond/stock portf0lio.
@Travis Buchkos How can I find your resourceful F-A, I buy the idea of employing their services, it’s a shame how the downtrend has reduced the worth of my portfolio drastically.
His advice is only for the medium earning people. All the exceptional business people will use debt even if they have cash to pay for it. For many reasons, using debt is better than using cash.
When I was just out of school i noticed that a few of my friends were doing well with money, some of them were not that good a school so i learned from that you did not need brains to get ahead. I see rich as something far better that money. It`s a state of mind or feeling. Be comfortable with less , want less and you will be rich before yo know it.
Amazing that ALL of the wealthiest people in the world have not followed Dave Ramsey’s Baby Steps. I’m especially focusing on his last one about giving. Many of them are cheap.
I dissagree slightly depends what you do with the money you borrow.I borrow all the time to buy properties.The rent is bigger than the mortgage payment,so that is how i make money with the banks money
The borrower is slave to the lender is what I needed to hear. I thought about taking on leverage because the market is so low. But I think Americans have been manipulated into cheap debt. I know people who live paycheck to paycheck but have milllions in real estate and live large. I just would be too stressed. Thank you
Umm, that's a hard bit of advice because even if you take on debt, you have no idea if your business or the business you invest in will make it long term. Its all a gamble but with calculated risk.
Watched Dave on here for years, only debt left is a small mortgage. I work for a large Credit Union doing vehicle loans, scanning through credit reports of borrowers makes me ill. A couple with good jobs, good income will have 7 credit card trade lines, totaling 18 to 30 thousand. So many people have no idea about no debt and then saving and investing.
I simply made my way to affluence listening to Dave and reading his books 📚 way back from Africa. I am now crazy about helping people just get this “money thing” right
I took a small % of all money coming in and left it alone to accumulate for several years and now I can get anything, but being a tight wad for so long I no longer want the trappings of spending . Guess I'll leave it to the kids to spend on things they don't need. Does that make sense?
Our heater died today. I have the money to fix it thanks to you. We got married at the JP. Our honeymoon was a camping trip. No debt but our mortgage which needs to go. I plan to work for the postal service. Most of my check will go towards the bill. My car is paid for. No credit card debt.
Yes this is true if we lived in a perfect world . You know what happened when i was broke and got a house? I sold it 10 months later and made $120k dollars. You know what happened when in got the next house while broke and in debt? I sold it and made $135k dollars. And you know what happened when i got the next house being broke? I still have it and it has over $300k in equity. Thanks Dave.
Good one.. Borrowing money for personal things like car, house, vacation is strictly NO. But if you are borrowing money for business expansion, it makes sense if you are able to beat the real interest rate(inflation adjusted).
It's bad to look at debt as a way to get things. The only way to make debt work for you is only borrow money that you have... Meaning if I have a million dollars and wish to start a company, I can borrow 500k for it, knowing I can pay it off and have money to keep going.
“You can’t believe everything you hear to the extent that it doesn’t line up with this (Holy Bible) Preach the truth, Dave. This is why God has blessed you!!
I'M NEW TO BTC AND I'VE BEEN MAKING LOSSES TRYING TO MAKE PROFIT MYSELF IN TRADING...I THOUGHT TRADING ON DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET... CAN ANYONE HELP ME OUT OR AT LEAST ADVICE ME ON WHAT TO DO?
I strongly advise you against self trading, it's really dangerous and had brought so many investors down. You need someone with knowledge and strategies of someone dedicated to crypto currency
Had 2 Credit Cards, only had £800 on one, but I couldn't sleep, so paid it off and got rid. 17% APR - 17 pence in every pound, doesn't sound much right, oh I'll just pay off the £15 minimum and I'll pay double next month, yeah I'll do that - later I owed £££££ to the Card company for really nothing except 'get this now', yeah and end up paying £££ extra.
Those who got from a divorce settlement contributed to building that wealth to start with. It's not a gift. Only inheritance is a gift. Don't forget that.
You're absolutely right Dave Ramsey. A borrower is a slave to the lender. That's why I'm working on being debt free myself. Thanks for the financial advice and the humor. God bless you 🙏.
An excellent introduction about the basics of economics. Forex and crypto trading is one of the most profitable money exchange service that elevate Investors and their financial status
I have incurred so many losses trading on my own... trade well on demo but all of a sudden everything started going down, but I think the real market has been manipulated... Please can anyone help me out or at least tell me where I am nor getting it right?
I heard that his strategies are really good it's a pity that most people out there struggling through intense hardship and have ignored forex investments
Most new traders make the mistake of trading on their own without having the required skills to help them benefit from the market.i was once like that but all changed thanks to an expert Mary.
Had the same struggles as a beginner before my colleague introduce me to her who showed me great strategies on how trade and accumulate profit constantly which helped a lot during the download and unlike others.She doesn't asked for anything to teach you.Good people still exist.
I didn't realize til I retired in Danbury, CT, after working for 36 years, and after a bankruptsy with my company, that running out of profit sharing, after 8 years, and having to live on Social Security, how limited I am, for decent housing, even with a voucher. The wealthy neighborhoods , don't have affordable housing. The system is really corrupt. U can find something nice, in a decent neighborhood,but its like looking for a needle in a haystack.
5 years ago I couldn’t afford a bus fare to the next city because I was so broke. Now I walk past the local used car dealership and could buy any one I want without taking on debt. I can’t wait to see where I am by 2030
Charles Givens said "no matter what's due pay yourself first. By that he ment pay yourself 10% of your of your net income first and use 90% of that income to payoff debts.
Planning and executing anything takes patience, skill, and discipline. As you get deeper into day trading, you should step back and adjust your plan as time goes on
As the economy crisis keep rising, one needs to have different streams of income, a well detailed diversified investment portfolio in the financial markets is needed to survive, as well as secure a profitable investment future!
First understanding the financial market and how it works then you need to know how to study the market charts. That's all you stand to get when you start trading with Jasmine.M Frankie. She is highly recommendable. And her signals works.
I have once heard about this Mrs Jasmine M. Frankie _trading, and her wonders on crypto analysis, how can i reach her i really need help in this bear market now .
Getting out of debt won't help you that much if you don't understand why your in debt in the first place. Low income, no budget, bad choices, wrong circle of friends, etc. Truth be told most Americans don't know the difference between a want and a need.
Totally agree with broke people not buying houses. Houses are money pits from day one with maintenance, repairs, lawn service, pest control, etc. They are places to stay, not investments. If there's not an ample "maintenance fund" to take care of it, don't buy one. They can go from dream house to dream killer really quickly.
We lived cheap for decades, and invested as much as we could. We have a broke mentality: couldn’t afford the payments on our custom built home when we retired so we had to pay cash. Couldn’t afford the payments on my wife’s SUV, so we paid cash. As I write this we are on a month long cruise in Europe; can’t afford this trip so we paid cash. Get the point what Dave is talking about?
Depends on the gravity of your debt. Debt isn’t all that bad if you can pay for your credit card in full each month. The problem is not debt. The real problem is self-control. You have no self-control, you become a slave. You can also be as slave to your riches. The best thing to do with these things is to stay detached. Stay out of debt the best you can and do not worship riches. Have riches and do good with them because you are only a steward of it. Other than that, enjoy your hard-earned money and save for a vacation or two each year that you can afford or wait an extra year save bigger and go to a big trip to the Maldives.
ask a millionaire what was a major part of their wealth the answer was Real-Estate avoid massive leveraging of debt in Real-Estate some can do it most fail with heavy debt .
Well most of us are conscience of the fact that we all have a limited lifespan. And if beauty can be expresed and experienced in relationships, landscape, and adventure. Then I'll be just another happy layer on top of it until the end. That to me is priceless.
Thanks for this. Now I don't have to go to his seminar. We naturally did his stuff ( have no idea why LOL ) but I would go to a seminar of his for the fun of it. Now I don't have to.
I used to spend $1,200 a month on two car payments! That was insane! Now, I have no car payments and no house payment. Still, I constantly have to remind myself just how fortunate that I am. My wife and I vacation three to four times a year and this reminds me of how being out of debt is good! If I can’t pay cash then it doesn’t get done!
How'd did you get rid of the payments? Pay off and keep? Break the lease cycle?
The last part is exactly right. The more money I made in my life, the less useless stuff I needed.
Best statement was at the end. "I could buy anything in the mall, and I didn't want any of it" I felt that as well once I hit financial independence. It's a truly bizarre feeling when you realize you don't need more "stuff" once you pay cash for everything.
yes! I now dress like a pauper and love it. financial freedom created social freedom.
This is a true statement. Once you don’t have to worry about money you are in no rush to spend it because you know you can have whatever you want whenever you want it. So impulse buying isn’t an issue anymore
Any advice for someone who just started working full time? I have some student loans to pay off and expect to have them done in 5 years or so. Thanks!
Agreed
I wonder if it has anything to do with re-wiring our dopamine response to seeing the savings go up instead of wanting to go out and buy more useless stuff?
The end is totally true. The more I see my savings go up the harder it is to spend money, the more “cheap I get”
You are so right. I am so cheap now where before I had savings I spent money all of the time. Crazy 😝
You don't need savings. Poor people have savings account. Rich people have investment accounts
The more you save the more conscience the decisions you make with it.
yeah, then one day you realized that your saving can only buy maybe 2/3 of the same stuff than you would be able to one year ago. Save all you want, inflation don’t care
Everyone should have six to twelve months of available savings. Bust butt to stay out of debt. Then have investments as well
Debt free baby. My grandfather who was born in 1907 told me, “cash or check, you have the money or you don’t.” For years I never owned a credit card until I tried to rent a car. I have a credit card only for online purchases, incidentals, gas pump but pay it off right away. I own everything outright. Through hard work, saving, investing, living below my means, discipline…financially I’m in great shape.
Yeah until you die, then it was all for nothing - we are on this earth for a short period of time. Unless you started out having no debt, it is very hard to get out of it. That is the problem. Yeah, this guy has some good points, but some credit cards have saved me. Unless you are rich, it's very hard to just live on Money only.
I'm in the U.K. and have lived like this guy for 25 years. It's the only way to be, I can totally agree. I earn a good income, I've been screwed by divorce by a woman who wants all the best things. I'm still on top though as I don't want for material goods since my divorce. I have the safety of my savings that's all I need it for. I'm on my own with no family except my loving daughter. That's what I care for more than anything.
good job, man. more power to you
You are a good inspiration my friend.
That is the way to do it. Good Job.
As a fellow Brit, you've said exactly what I would have said, I've followed the same route, no family & one daughter.
Have a great day John Boyd.
Was in the same boat as you....since the divorce and working all I could mentally withstand...I have more money now and no desire for nothing in life but peace within myself....you know why divorces are exspensive ?.....cuase their worth it
Walked into the mall and could buy any of it I wanted and suddenly I didn’t want any of it at all. That’s true!
Years ago, I started with Baby Step1, I am now at Baby Step 7. Looking back now, its astonishing to me how simple this formula is. The harder you work up front, its all down hill towards the end, it took me 4 years to knock out steps 1-4, but I did it buy myself with 55K in debt. Just follow the Steps. Dave is a Genius...just my opinion with receipts to back it up.
Finally a Godly approach to money and the how to. God bless it
Hello Nate. Have you ever read this? Proverbs 13:22: A good man leaves an inheritance to his children's children, but the wealth of the sinner is stored up for the righteous.
In God's book, a good man thinks generationally. He does not just prepare for his children's future, but for his grandchildren's. Once I read that, I started praying for the wisdom to teach my own children how to be fiscally responsible so that they won't squander their inheritance. If they don't learn some of the lessons I've learned the inheritance will not reach the third generation. This word of God changed my life. It expanded my perspective.
It’s in all religion except for liberalism
Dave is 100% correct. I know because I did it!
Dave is right: I have no debt, good savings/investments, and when I walk through a shopping mall knowing I could buy anything I want, I don’t want anything. It’s a bit strange.
Definitely true about debt is aggressively marketed. I also have that fond memory when I bought my car in 2010 and my opening statements to the car dealers were 'First thing: I'm not financing', They gave me a crazy look, then I said it again (I still had student loans back then, so I couldn't afford more debt, but I had a ton of savings too). Also, years later, a coworker wasn't fond of my car choice and my response was 'Its paid for!'.
Read Proverbs and I am not marrying a broke person ever again ;) I'd rather be single than deal with someone else's bad financial decisions.
I support you
Preach
You should've said this to me a little earlier..your fault
@alexralston22
How many broke people have you married?
I was broke when my wife and I married. now we're not. maybe it's a character thing.
I recently sold a property in Portland and am considering investing the proceeds in stocks. I know everyone says the market is ripe, but is it a good time to buy stocks? How long will it take for you to fully recover? I'm genuinely baffled at this stage as to how other folks in the same market are raking in over $450k gains in months.
I agree, having a brokerage advisor for inveesting is genius! Amidst the financial crisis in 2008, I was really having inveesting nightmare prior touching base with a advisor. In a nutshell, i've accrued over $850k with the help of my advisor from an initial $120k investment.
There are a lot of independent advisors you might look into. But i work with Carol Pasol Lewis and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her.
Nothing you buy feels as good as having money in the bank! Nothing!
Money in the bank with inflation this high? Gold and silver in your hands feels better!
Maybe a Porche
Nothing feels better than buying stocks for me
so true!!! I have turned my life around just like this about 10 years ago. And now I could buy anything but I do not want any of it.
One big problem is that high schools don't teach money management.
Public schools are to teach the masses to be good little worker bees and not think out of the box.
I learned from my parents and I taught my kids.
Excellent advice. I never borrowed money, and never made dept. I do use credit cards to avoid carrying cash, but I never spend more than I can pay before due. I never spend more than I can pay for. I never have to pay interest. I invest my available money in to the equities markets to make dividends. I add the dividends back in to my investments.
How’d you buy a house?
Well i carry cash not to use a cc! I take shopping only what i feel is necessary. If I use a cc I always spend more. However i do use it for groceries and gas.
I’ll keep this really simple: if you change your mindset/perspective/relationship with money, you will inevitably change your financial position… so, get to work and good luck to all!
Thank You for this truth stop pack ratting and the Change thur practice will come.
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam. Though I started with $1000 but it was successful, it's been four months since I started investing with her and it's been a great experience
The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I start investing my cash in other to achieve all my dream with the help of Lucy Mary Liam. The difference Mrs Lucy Mary make in my life is second to none. It's definitely a life changing kindness. I really appreciate her effort in my life time.
Wow I'm just surprised someone mentioned Expert Mrs Lucy Mary Liam I thought I'm the only one trading with her. I also trade with her and i earn $5,000 every week, all my family have been trading with her and making profits, we love you Mrs Lucy Mary
@@emilymccord7063You don't have to be surprised because I'm also a huge beneficiary of her good works. She helped me recover what I lost trying to trade my self and I'm still earning a lot of profit monthly.. I invested $8,500 through Mrs Lucy Mary Liam and in one month I made to close $70,300
Ever since I lost my job with the ministry I have been surviving through my investment with Mrs Lucy Mary Liam, I'm so glad I invested when I did. My first experience with Mrs Lucy Mary Liam give me the assurance to invest the more with her without the fear of losing
She's awesome.
After I came across bitcoin trading platform of Mrs Lucy Mary Liam my financial life has totally changed
Debt is for smart people to use. Most ain't smart enough and not strong minded enough to use debt for the better future. Everything has two edges.
My grandparents were farmers that survived the 1930s great depression. They were successful later on but lived the same way as during the depression. They died multi-millionairs and the money was passed to their 4 children. My mother invested that money and never touched it and continued to work and live her same lifestyle. She died a millionaire and passed the money to her 2 kids. I have invested my portion into other assets and continued to work. Now retired I live off passive income from the assets and will pass that down to my children. But I recognize the sacrifices made by my parents and grandparents to achieve that level of success and legacy.
Is that the Buy Borrow Die method? I think I read about that. Keeps taxes away too.
Well said. Keep educating the public. We need more people like you. Great job like always.
Cash flow is more important than having fixed assets or liabilities.
Being debt free will change your entire mindset about money.
Yes it does
Thank you for this motivation 😊💕
Fantastic message from Dave as always! Bless you Dave for setting so many people free from debt and moving them forward financially!!
I think the major problem here is that most people need to pay rent if they do not buy a house, and the rent is about equal size to their monthly mortgage payment (if they buy a house). Therefore, you will not have the $1 million dollar to invest anyway, since you either have to pay all that money to your landlord/landlady or at least a portion of the mortgage payment goes to and contributing to the property that you are trying to buy.
As far as I have seen, the size of the mortgages tend to be bigger than the rents during the first years (it gets smaller when the debt gets smaller), and if you own your own house you generally end spending more in house maintenence/improving, so it's not a clear cut answer if you would end paying more in interests with a mortgage vs paying rent and saving/investing and then buying the house.
However some advantage of renting vs paying a mortgage is the flexibility, you can rent a place that satisfies just your present needs (instead of paying extra for possible future needs) and when your needs change, you can easily move and rent another place.
For example, if you are single you can just rent a single room or share the rent with co-workers. If you are married but with no kids, you can rent a single bedroom condo and only move to a 2 bedroom place when(and if) you are having a baby. All the money that you would not pay for the rent of a big house could be saved and invested during all the years in those circumstances.
Then rent a cheaper house. Renting vs owning a home doesn't mean you can't get out of debt, save and give.
*YOU DON'T HAVE TO BE GREAT TO START BUT YOU HAVE TO START TO BE GREAT-BLOSSOM JEFFERSON* 💖.
Starting early is the best way of getting ahead to build wealth,investing remains the priority. Forex trading has plenty of opportunities to earn a decent payout,with the right skills and proper understanding of how the market works
Talking about being successful! I know am blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Blossom Jefferson
What a striking coincidence,Expert Mrs blossom Jefferson changed my financial life tremendously.
Demanding for her contact details? 👇
米国＋𝟭92941𝟵𝟭𝟯𝟭𝟲米国
Try buying a house for cash, without mortagae debt, whilst paying rent at the same time, while the house market trends upwards over months, years and decades.
Debt to purchase an appreciating asset is smart, if you have a stable financial history and the potential to earn income on a reliable basis, if you don't, then stick to government assisted property, if available in your country, also avoid casual debt and learn to live without non-essential items.
The one thing he approves debt for is a 15 year fixed rate mortgage. He's aware that is one thing that's a bit too much to lump sum for.
You know that there are places in the Us where you can buy a house 🏠 for a dollar good turn keys for 40k
Yep, that is how it is done.
I agree, I follow the Jimmy Carter logic too....I did not get into the Reagan Era " You have Equity in your Home, tap, tap, tap into your Homes Equity." and here we are today...Home values are way over valued and people tap into their fake equity to this day....To know the Future, you must know the past.
Yes Carter is a good failure to learn from. 444 day spanking has lines very high gas prices very high interest rates . How young are you don't recall my house 🏠 hog tiring me or Reagan hogtieing me and getting a second mortgage or making me
Mr. Ramsey's advice is reasonable but his explanation avoids telling people the blunt truth; it's not the debt per se, but the underlying immaturity and lack of self-discipline that leads people to being encumbered by debt. The rest of his message used to be called common sense.
Hey Dave, this video is indeed a paradigm shifting. I will definitely gonna close my 4 credit cards after watching this.
Why? I get 2% cash back by simply using my credit card instead of a debit card. That alone pays for my family's yearly vacation
I have over 20 cards and zero debt. The banks earn me thousands of dollars every year. Credit cards are great tools if used correctly.
Banks tend to take the credit cards from those who don’t use them too.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portf0lios this quarter. How can I pr0fit from the current volatile market, l'm still at a crossroads deciding if to liquidate my $400k bond/stock portf0lio.
@Travis Buchkos How can I find your resourceful F-A, I buy the idea of employing their services, it’s a shame how the downtrend has reduced the worth of my portfolio drastically.
His advice is only for the medium earning people. All the exceptional business people will use debt even if they have cash to pay for it. For many reasons, using debt is better than using cash.
When I was just out of school i noticed that a few of my friends were doing well with money, some of them were not that good a school so i learned from that you did not need brains to get ahead. I see rich as something far better that money. It`s a state of mind or feeling. Be comfortable with less , want less and you will be rich before yo know it.
Amazing that ALL of the wealthiest people in the world have not followed Dave Ramsey’s Baby Steps. I’m especially focusing on his last one about giving. Many of them are cheap.
That’s why they are not happy beca of corrupt money
I dissagree slightly depends what you do with the money you borrow.I borrow all the time to buy properties.The rent is bigger than the mortgage payment,so that is how i make money with the banks money
OPM. And that is how I made my money also. Plus increased equity.
Same video from years ago. Nothing new here. But that’s Dave.
The borrower is slave to the lender is what I needed to hear. I thought about taking on leverage because the market is so low. But I think Americans have been manipulated into cheap debt. I know people who live paycheck to paycheck but have milllions in real estate and live large. I just would be too stressed. Thank you
Use debt to buy assets that have a return. Jeff went into debt to make Amazon.
Don’t use debt to buy things that won’t make you money.
Umm, that's a hard bit of advice because even if you take on debt, you have no idea if your business or the business you invest in will make it long term. Its all a gamble but with calculated risk.
Jeff used his parents retirement funds. All the others made new friends with bankruptcy attorneys. Learn the truth.
Credit is buying things you cannot afford with money you do not have. , Learn the truth Art!
Jeff made a deal with the devil, that men is corrupt and his wife was a sign…
Jeff used his parents retirement funds and in turn made them shareholders in Amazon. He was one of the rare few that succeed. The majority fail.
When I was in debt before I knew of Dave
I remember thinking
I will never get out of debt unless I
Go to war against debt. It’s that
Serious
Watched Dave on here for years, only debt left is a small mortgage. I work for a large Credit Union doing vehicle loans, scanning through credit reports of borrowers makes me ill. A couple with good jobs, good income will have 7 credit card trade lines, totaling 18 to 30 thousand. So many people have no idea about no debt and then saving and investing.
They live below their means, they hire the best advisors they can afford, they have a large network, they take calculated risk.
this guy's voice alone makes me motivated to earn
I simply made my way to affluence listening to Dave and reading his books 📚 way back from Africa. I am now crazy about helping people just get this “money thing” right
I took a small % of all money coming in and left it alone to accumulate for several years and now I can get anything, but being a tight wad for so long I no longer want the trappings of spending . Guess I'll leave it to the kids to spend on things they don't need. Does that make sense?
I bought a condo in ca, it doubled in 5 years. I sold it and bought a SFH, over time it grew to almost 2 million
Our heater died today. I have the money to fix it thanks to you. We got married at the JP. Our honeymoon was a camping trip. No debt but our mortgage which needs to go. I plan to work for the postal service. Most of my check will go towards the bill. My car is paid for. No credit card debt.
Psalms and proverbs are my 2 favorite books in the bible.
Yes this is true if we lived in a perfect world . You know what happened when i was broke and got a house? I sold it 10 months later and made $120k dollars. You know what happened when in got the next house while broke and in debt? I sold it and made $135k dollars. And you know what happened when i got the next house being broke? I still have it and it has over $300k in equity. Thanks Dave.
Well let’s give you a big pat on the back well done
Good one..
Borrowing money for personal things like car, house, vacation is strictly NO. But if you are borrowing money for business expansion, it makes sense if you are able to beat the real interest rate(inflation adjusted).
Real talk... never stop saving
If I didn’t leverage debt I wouldn’t have had the money to build the business that I have. It’s not that simple
It's bad to look at debt as a way to get things. The only way to make debt work for you is only borrow money that you have... Meaning if I have a million dollars and wish to start a company, I can borrow 500k for it, knowing I can pay it off and have money to keep going.
“You can’t believe everything you hear to the extent that it doesn’t line up with this (Holy Bible)
Preach the truth, Dave. This is why God has blessed you!!
I'M NEW TO BTC AND I'VE BEEN MAKING LOSSES TRYING
TO MAKE PROFIT MYSELF IN TRADING...I THOUGHT
TRADING ON DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET... CAN ANYONE HELP ME OUT OR AT
LEAST ADVICE ME ON WHAT TO DO?
Same here, my portfolio has been down the drain
while I try trading, I don't just know what I did wrong.
I strongly advise you against self trading, it's really
dangerous and had brought so many investors
down. You need someone with knowledge and
strategies of someone dedicated to crypto currency
Wow!! I'm just shocked you
○mentioned and recommended Expert Olivera Jane khumalo. I
○taught I'm the only one trading with her.
I always get good returns when i let her handle my
account. As a beginner this is what you should go
for to avoid incurring losses.
As a beginner i am so lucky to have a mentor like
Mrs Olivera Jane khumalo. I have been so successful under
her mentorship
Everyone should share this!!!!!!!!!!!!
Dave's Debt Snowball worked for me. Thank you Dave..
Had 2 Credit Cards, only had £800 on one, but I couldn't sleep, so paid it off and got rid. 17% APR - 17 pence in every pound, doesn't sound much right, oh I'll just pay off the £15 minimum and I'll pay double next month, yeah I'll do that - later I owed £££££ to the Card company for really nothing except 'get this now', yeah and end up paying £££ extra.
9 out of 10 of the richest women got their millions from either an inheritance or a divorce settlement.
Those who got from a divorce settlement contributed to building that wealth to start with. It's not a gift. Only inheritance is a gift. Don't forget that.
You're absolutely right Dave Ramsey. A borrower is a slave to the lender. That's why I'm working on being debt free myself. Thanks for the financial advice and the humor. God bless you 🙏.
I've done very well out of "good dept." Dave , very well indeed
Apparently Mr Ramsey learned some things after his bankruptcy filings.
He paid back his bankruptcy at 100 cents on the 💵💰 dollar
thank you dave for changing my life and educating me about making my money work for me and learn how to be debt free
An excellent introduction about the basics of economics. Forex and crypto trading is one of the most profitable money exchange service that elevate Investors and their financial status
I have incurred so many losses trading on my own... trade well on demo but all of a sudden everything started going down, but I think the real market has been manipulated... Please can anyone help me out or at least tell me where I am nor getting it right?
Same here dear, my portfolio has been going down like seriously, and I don't know what else to do please someone should help me out ok
I heard that his strategies are really good it's a pity that most people out there struggling through intense hardship and have ignored forex investments
Most new traders make the mistake of trading on their own without having the required skills to help them benefit from the market.i was once like that but all changed thanks to an expert Mary.
Had the same struggles as a beginner before my colleague introduce me to her who showed me great strategies on how trade and accumulate profit constantly which helped a lot during the download and unlike others.She doesn't asked for anything to teach you.Good people still exist.
Last few words 👍👍..... Once you are debt free , and cash laden .... you don't want to buy anything.....
Thanks Dave
I didn't realize til I retired in Danbury, CT, after working for 36 years, and after a bankruptsy with my company, that running out of profit sharing, after 8 years, and having to live on Social Security, how limited I am, for decent housing, even with a voucher. The wealthy neighborhoods , don't have affordable housing. The system is really corrupt. U can find something nice, in a decent neighborhood,but its like looking for a needle in a haystack.
The first thing I do is think things over. There is a good reason a lot of people are leaving Ct. You might be better of moving
There are places in the Us where you can buy a house 🏡 for a dollar a good turn key for. 40k
5 years ago I couldn’t afford a bus fare to the next city because I was so broke. Now I walk past the local used car dealership and could buy any one I want without taking on debt. I can’t wait to see where I am by 2030
Rock solid!! I'm living proof it works. Now we need a big talk about reducing government!!
Charles Givens said "no matter what's due pay yourself first. By that he ment pay yourself 10% of your of your net income first and use 90% of that income to payoff debts.
Planning and executing anything takes patience, skill, and discipline. As you get deeper into day trading, you should step back and adjust your plan as time goes on
Great skills and knowledge about the market. I enjoy full profits and easy withdrawal with no complains, trade with the best.
As the economy crisis keep rising, one needs to have different streams of income, a well detailed diversified investment portfolio in the financial markets is needed to survive, as well as secure a profitable investment future!
First understanding the financial market and how it works then you need to know how to study the market charts. That's all you stand to get when you start trading with Jasmine.M Frankie. She is highly recommendable. And her signals works.
All you need as a beginner to make good profit from cryptocurrency is a professional trader who will trade on your behalf else you may make losses
I have once heard about this Mrs Jasmine M. Frankie _trading, and her wonders on crypto analysis, how can i reach her i really need help in this bear market now .
Thank you Dave. I wish I found your message earlier in life. I probably would be better off by now. Through happy accidents or dumb luck
Love you Papa Dave!!
Amen to that Bro👍🏻 I’m debt free and will stay this way!!!
You really educating us sir. I really appreciate you. Thank you so much.
Amazing presentation
Being out of debt is like a refreshing breeze in fall.
Another awesome video! ❤️❤️Investing in today is because tomorrow isn't promised, trading Bitcoins,gold, silver and crypto secure a better Tomorrow.
It's nice to hear people discuss about investment, because investment always beat cash.
Am investing in crypto now.. the dip is a clear sign for new investors to come in..
How does this whole process works? I'm interested in investing in crypto but still confused by the fluctuations in price🙁.
I have heard a lot about investments with Expert Walker Alex how good is he, please how safe are the profits?
Please do you mind sharing any means of reaching out to him easily? I'm really interested I believe this is genuine.
Millionaires don't like CONSUMER debt, not business debt
Getting out of debt won't help you that much if you don't understand why your in debt in the first place. Low income, no budget, bad choices, wrong circle of friends, etc. Truth be told most Americans don't know the difference between a want and a need.
Totally agree with broke people not buying houses. Houses are money pits from day one with maintenance, repairs, lawn service, pest control, etc. They are places to stay, not investments. If there's not an ample "maintenance fund" to take care of it, don't buy one. They can go from dream house to dream killer really quickly.
We lived cheap for decades, and invested as much as we could. We have a broke mentality: couldn’t afford the payments on our custom built home when we retired so we had to pay cash. Couldn’t afford the payments on my wife’s SUV, so we paid cash. As I write this we are on a month long cruise in Europe; can’t afford this trip so we paid cash. Get the point what Dave is talking about?
you are right their is no good debt because debt is evil
Being in a position to buy anything you want (& at anytime) cash & yet you don't want or desire anything, is financial freedom...now & the future.
Funny, we have been doing Dave Ramsey for 5,782 years :-)
I brings a peaceful feeling when ur debt free I have been for 2 years
It was quite helpful
Depends on the gravity of your debt. Debt isn’t all that bad if you can pay for your credit card in full each month. The problem is not debt. The real problem is self-control. You have no self-control, you become a slave. You can also be as slave to your riches. The best thing to do with these things is to stay detached. Stay out of debt the best you can and do not worship riches. Have riches and do good with them because you are only a steward of it. Other than that, enjoy your hard-earned money and save for a vacation or two each year that you can afford or wait an extra year save bigger and go to a big trip to the Maldives.
This is the best comment I’ve read. Thanks Ben. We are to help others that are trying to help themselves that’s what God wants us to do.
ask a millionaire what was a major part of their wealth the answer was Real-Estate avoid massive leveraging of debt in Real-Estate some can do it most fail with heavy debt .
German word for debt is guilt... Most here in no way embrace debt. It`s regarded a weakness.
Well most of us are conscience of the fact that we all have a limited lifespan. And if beauty can be expresed and experienced in relationships, landscape, and adventure. Then I'll be just another happy layer on top of it until the end. That to me is priceless.
Great video,
The problem with debt is
You HAVE to make a profit
To pay back the loan.
If I just save up
I can use that money to make money
Or not, no pressure.
At this point I'd really like to see the other way around, what the poor(practical economies) that the billionaire doesn't know
To the wealthy and people who know who to mange money "getting out of debt" means having assets more then the debt, not dumbly paying good debt down.
Thanks for this. Now I don't have to go to his seminar. We naturally did his stuff ( have no idea why LOL ) but I would go to a seminar of his for the fun of it. Now I don't have to.
I set a goal to save 25000 dollars this year I am at 22700 with about 4 months to go it should be done