How Much Money Should I Give, Save, And Spend?
Вставка
- Опубліковано 27 вер 2018
- Always know the next right step for your money. Learn the proven plan when you try Financial Peace University for free. bit.ly/3dNzS7T
Visit the Dave Ramsey store today for resources to help you take control of your money! goo.gl/gEv6Tj
Become a Channel Member today: / @theramseyshow
Did you miss the latest Ramsey Show episode? Don’t worry-we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: ua-cam.com/users/TheRamseySh...
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
ua-cam.com/users/TheRamseySh...
• The Ramsey Show (Full Episodes): ua-cam.com/users/TheRamseySh...
• The Dr. John Delony Show: ua-cam.com/users/JohnDelony?...
• The Rachel Cruze Show: ua-cam.com/users/RachelCr...
• Anthony ONeal: ua-cam.com/users/aonealmi...
• The Ken Coleman Show: ua-cam.com/users/TheKenColem...
• The Christy Wright Show: ua-cam.com/users/ChristyWrig...
• EntreLeadership: ua-cam.com/users/entreleader...
Good kid! Really smart to be thinking like this at his age.
I'm new to Dave, and I must say I enjoy his show a lot!!
Yeah I just found him as well and am fiending his videos. I never realized how important a budget is. I immediately took a journal I had laying around and wrote down my monthly expenses, cut down on a lot of them, and started paying off my smallest debt. I created a plan to pay weekly on my debts as much as I can that way it feels I am progressing weekly moreso than doing it monthly. Thank god for this man!
@@Zack-dv6rz That is awesome!!! Minority Mindset is a good channel as well.
Welcome aboard guys ^_^
I love his accent👌
Zack have u managed to stick with it?
Great advice. Dave rarely answers questions like this specifically. He is more focused on sharing high level principles and taking things more on a case by case basis.
This video is super helpful, thank you! I just turned 19 a week ago and I needed this kind of advice so much) I really enjoyed watching this video - you are not only answered an important question for a young person but also(as was mentioned in the comments earlier) answered the question this specifically. Loved it!
How's it going 👀 I'm 22 right now and graduating college in the spring any tips? Will be making 65k a year starting salary in NC
why give 10% and save 15% isntead of saving 25%? As someone who is broke that makes no sense. I give my time and energy to help people, and I need my money to help myself.
Yeah agreed. Most of the giving is really ego based anyway. What do churches do with this money?
@@JudePi-jx7yo It doesn't need to be to a church. My husband and I give 10 per cent to whoever God brings on our path who has a need. The reason for us it to always rely on God, rather than ourselves, and to put our trust in Him instead of money. But I suppose that wouldn't make sense if you are not a believer.
So sad the number of people that are so against giving. And typically the same ones who expect free handouts from those of us who give freely out of the goodness of our hearts. My opinion is that tithing is old testament and not required, BUT I also believe that God wants us to give to others in need. Regardless if you make $2000/month or $50k/month, we are all rich...SO blessed. Give and it shall be given unto you. We don't attend a church regularly, but we are absolutely believers and always giving back our part. Great advice, Dave!
I'm broke like seriously broke could you like PayPal me $5? for some food
@@chiefkeef8936 Did she do it?
It's easy to feel like you can give when you are in a position to be generous. That comes from abundance. I worked in the non-profit Sector for half a decade and giving was voluntary, not voluntold. When you get to that point it's not really instilling the right spirit of giving.
To be honest as someone who has in his twenties regularly given a good chunk, after working with charities and knowing the “business model” of religious organisation. It feels like an error to give to organisations, its best to give to people in need directly.
I give 50% of my earned money in taxes. No way I am giving away an additional 10% to anything.
I think biblically it is ok to give more than 10 percent once you are out of debt.....but still stay diligent about savings.
Just don't wear mixed fibres
There can be tax deductions for donating money or goods to certain charities. Best to research this thoroughly first. Watch out for scams.
We need to live little. just be responsible
I think already gave me 9% of what I could, and do you know 2 Chronicles. I hoped, and conviction that my faith is trusting on Jesus not loving money.
After watching this video and knowing how much to give, save & spend I'm gonna try working on it!
Ideally 10% in cash, 15% in savings & the rest will be divided accordingly to what I can afford
Is this based on gross income or net??
I will be oaying off my first credit card, by december 1st I will pay off all my credit cards
Brazil 90 Awesome! Good for ya!
Thats awesome. Come back and celebrate
Brazil 90 that is fantastic....I remember paying off and giving back my credit card ..So freeing!
Now cut them up right now.
That’s great!
I struggle with this
There's never been a "ratio" to how much you care. God provides more wealth to those who give. Don't hold onto your money so tightly. Those who do, only require the basics to survive due to selfishness and greed
When you mention being a giver, can you clarify who this money is going to be given to? like what are your guidelines for who should receive that money?
Restricted Funds: These are funds that are set aside for a particular purpose. Sometimes it’s temporarily restricted, meaning that the restriction could end due to a specified time limit, or more likely, by the completion of a project, such as the construction of a facility. Funds that are permanently restricted are usually meant to be saved or invested in an endowment fund, the interest earnings of which can be used for a particular activity or general operations.
And, restricted means RESTRICTED! This is not a trivial matter. Donors can take legal action against a nonprofit that it believes is misusing restricted donations. The last thing your charity wants is to be in the cross-hairs of the Attorney General’s office.
Also, there is a term Designated Funds.
Dave means giving in any sense, your preferred way to give/be charitable. If you’re a Christian, that can be tithing 10% to your church. If you’re not religious, perhaps giving 10% to a charity of your choice, could mean buying several homeless people’s shopping for the week etc. Just set out usually 5-10% of income. Maybe $100-200 a month (if earning $2000 a month) and dedicate that money to giving and being charitable. Any selfless monetary acts that helps/makes a difference to people. Dave believes you will get this back, more good luck and more wealth if you are genuine, giving and selfless with your money.
What I've learned is give 10% back to God as a tithe. Then save. Then give to the poor - the homeless, widows, orphans etc by donating money, food, clothing and necessities. Giving money also to others in need (people in your church who you may know personally) would be included.
@@starlite2525 so you fall for that scM so the corrupt churches can get money from you eh? What need does god, the creator of everything, need with 10% of your income? if god truly provides than those who share his word also will not want for sustenance and shelther either so they would have no need of your money.
@raventhorX I know this comment is over a year old but this is ridiculous. My church and many others in the community are constantly donating food to the hungry, helping people with bills and unexpected expenses, etc. Where is that money supposed to come from? Churches do so much to help their communities and there's always someone like you criticizing them for it. It's like criticizing a non profit for holding a fundraiser or something. Give me a break
Lol Dave totally forgot about every income earners silent partner, Uncle Sam, when he did those projections. 🤦♂️ In 3 years that person would have 12-15 million saved, not 30-40. And he doesn’t have 9.5 million to spend, he has about 4.5 million to spend after giving 500 and paying taxes of about half. Still a ton of dough to make Dave’s point, just clarifying.
don't forget about the agents, pr flacks, attorneys, managers... all the leaches, including uncle sam so dave is talking in gross incomes before all those expenses
I got stressed when I heard giving 10%... don’t get me wrong I would love to give but when I have a big mortgage on me I hardly give 2% giving. I think I should be more generous.
@@anaskaizen1 God’s provision.
You can be outrageously generous after that mortgage is paid off 2% is okay just my opinion
Stopped listening at give away 10%. That's OK if you earn a fortune.
Anyone knowledgeable chime in:
27, no debt, except a $1000 medical bill, no house, renting, 25k a year right now. What can I be doing to get on a path to financial freedom? I feel like I COULD be investing any extra money that I have. I'm currently saving 15% of my income.
How much is saved?
Please dont ask the Internet for financial advice
Ik it’s a year after but I hoped you found more income, paid off 1000 dollar debt, stayed out of debt, started your e fund. Essentially follow the baby steps and don’t be Dave-ish and enjoy life.
Give away 10% while eating rice and beans
Hello, I gave 60 cents to Harvest Bible Church, and why so little what I faithfully could at that moment. Good works are not the way. And I really want to invest my own currency again on stocks such as what Buffet put money on Dairy Queen, I gave money $25.00 to one woman until two more one individually just one of $25.00.
So don't invest until you pay your house? What if you don't have a house
if i have $50k how much would you guys invest in stocks and how much on saving account?
If u have 50K to spend/ invest then do 75% stocks 25% save
@@josephhsu3221 your dumb
@@josephhsu3221 I would think it's the other way around unless you have money to burn?
@@alondrat1922 you’re*
depends on what plan you are working. Use the money to fully fund emergency fund and then invest the rest. We only have a portion of the emergency fund available in a savings account (give and take $5k). This handles most "EMERGENCIES". The rest is invested and can access easily enough if needed. We just cash flow back to the emergency fund and then switch back allocations when the emergency fund is topped back off.
Even if you not a christian but you have another religion you can give your tenth to the temple that church the mousque
If money wasn't given to you why would you give it away?
Because God died on the cross for us and he’s givin us so much (example) love, families, friends, that we should give back to others and him
@@madis_jewelry_and_art_co1559 God had no money to spend. Don't bring religion to finances, it doesn't work that way miss
Because the cycle needs to be broken at some point, doesn't it? Why not break it yourself?
And to Rafael, you are correct. He went to the cross owning only the clothes on his back, which were then taken away as well. This all happened even though he could have enriched himself within the snap of a finger. This tells us that limits on giving generously should be put very carefully.
Do you baby steps work worldwide? I mean if I am living in eastern region.
Ero Mei - I live in Australia & it's working for me. It's mainly about changing your relationship with money & saving money wherever u can. I started cutting my own long hair since starting Dave Ramsey & the money I would have paid the hairdresser - I save! ♥
It only works in the Northern Hemisphere
The basic principles are to get/stay out of debt. Invest for your future, and be outrageously generous.
Is the Emergency Fund the same as the Savings Account?
Some people would call it that, but I would recommend keeping them separate. (If the emergency fund is gone then you can tap into your savings) For me, I have at-least 3-4 months of expenses for my emergency fund and everything else goes in my saving. Hope this helps!
Doansters wait question how much are you putting into your savings every month percentage wise since your e-fund is full and what are you saving for ?
I think very few people should be fully paying off their homes when they are young these days. There's too much variability in employment and life circumstances.
If you are smart in your way if paying off your house, and don't end up in debt because that is all you focused on, then there is nothing wrong with it. I see what you mean, but try to be smart on how you pay of large expenses
I'm new, what are the baby steps?
Checkout total money makeover.
Step 1 save up $1000
Step 2 pay off all debt except mortgage
Step 3 save 3-6 months of expenses
Step 4 invest 15% of income for retirement
Step 5 Pay off mortgage early
Step 6 save for kids’ college
Step 7 live and give like no one else
@@ThePatriot1123 All correct except BS 5 & 6 should be switched.
IIRC 4-5-6 are simultaneous
Tithing is old testament is what I hear so no longer applicable after Jesus made things new. Thoughts on this?
True, what we do now is called love offerings and helping brothers and sisters out in need.
The Old Testament Laws regarding giving one-tenth are no longer applicable, yet Christians are still called to give generously. Acts 2:45 depicts the early Christian community as selling what they had to give to those in need. I think one-tenth should just be the minimum we give to others.
@Conservative Prosecutor I did this at my past church. I knew it would not serve good there so I redirected the money to goood causes. It worried me at the time but I did the right thing.
Conservative Prosecutor then you’re not in a good church.
Conservative Prosecutor that makes no sense. Go find yourself a responsible church. Our church’s finances are available to us a couple times per year and I can know where every penny is spent. And I approve of where the money is going. Don’t throw all churches under the bus.
Imagine giving 10% of your income going to a church. Churches are a great business model!
Quick summary- give a little but not too much. Save some but not to much. I know this rich football player who now has 40 million. Give some save some. I hope you enjoyed
that 40M was from football not giving little 😶 wrong anecdote
What Pastor Robbie preached Romans 3:25. I hope do not have a love of money, and more money brings trouble.
Give 🤣
What would you say to someone who gives 25% of income to church and has 9,000 debt and no emergency fund ?
Saeli Gutierrez I would say STUPID!
If someone gave 25% of their income yo their ministries and church, and was in major debt I would advise them to be smarter with their other choices they make outside of giving to their church. If they see giving 10% instead of 25% as a better option, they could lower their debt amount and get on the right track again. If they decide to not lower their church giving, then they need to sell, or return items that have no value, and where a waste of money. I would advise everyone to get a used car so their isn't a new bill every month for you car payment AND your insurance. There ya go, hope that answered your question
i dont go to church who o i give the 10 percent to
Dave talks about how giving is so important. Guess what...in this life no body is giving me anything for free....I have to EARN it. I don't believe in giving my hard earned money to strangers just because a person says so.
He is coming at this from a Christian perspective. God asks us to be a good steward of what he has blessed us with. Part of that entails giving to those in need.
How about giving to your love ones?
Giving is not for others it's for yourself. The wealthiest and smartest know this. Philanthropy is rewarding and God understands this.
No one REALLY Lukes giving away their hard earned money, but sometimes- in my case- it is essential to give money to your church, or you'll see to it that it's closed because there are no more offerings coming in. Especially coming from a large beautiful church with few families to support it, giving is nessessary, for glory to God and to keep the church up and running
Giving doesn't always has to be in the form of money. You can buy a stranger a box food and that can create a bigger impact on them more that the money because I'm sure you're not just going to give a stranger 10% of your salary. My advice give what you can give when you can give don't let anyone pressure you into doing something you're not comfortable with
💙
Yep, tithe.
Dave let the caller talk please
He is the one answering questions, not the other way round.
The ad before the video is for UpNest, an online real estate platform, completely impersonal. Against what Dave preaches about using a professional with experience and insight.
Over 50 Mommy Life ads are based on your internet searches. They will be different for different people.
Over 50 Mommy Life Dave has zero control over those ads, youtube puts those ads on there, they put whatever they want, that’s how youtube makes money
Yes, I know! That's what's interesting about it. It always seems like there's an ad that is totally irrelevant to the video. i was watching one for an all-natural skin care routine and the ad before it was for Botox! Makes me laugh!
we are all already giving more than 10 percent ...fleeced really
Problem is your not giving it. They are taking it.
Investing Hustler gives all his wealth away but has so many millions of dollars coming in that he can’t give away everything. Poor guy.
I don't get it i worked hard 60 hrs a week for my money why should i give 10% to people who dont do it for them self's no forking way man
You don't get it because you're selfish. You don't view helping someone as doing something good, you view it as an inconvenience, that's why you don't get it.
You could also give to a charity that is dedicated to saving the planet or maybe other things that you think are important. You dont have to physically GIVE it to someone random
:)
Atleast thats my view on it
@@Strikerfm1 your funny and stupid
@@Strikerfm1 I'm broke like seriously broke could you like PayPal me $5? for some food
I give lots of money at the end of the year, it provides for everything, taxes
10% to giving? Lol
I'm not giving to anyone until my networth is $1 million
That is a selfish act but I hope you reach you 2 million so you can become a more generous person
Give what you can give when you can give don't let anyone pressure you into doing something you're not comfortable with
I totally disagree on the giving. My giving is all the taxes i have to pay lol
Love these videos. But being too frugal is a waste of a life. Enjoy it when you can you are taking absolutely nothing with you to the grave except for the clothes on your back.
Darth Balls ，
Yeah but if you get bad into debt it can start wearing on your day to day life!!
God does exist
Coming from Sweden where literally no one is religious you people in the USA really do look like a bunch of lunatics.
Also, M P. God can be proven just as evelotioun can be... it can't it is a matter if having knowledge admiring everything around us and knowing that this all didn't come from an explosion, there was a creator and he made us all, just the way he wanted. Scientists claim we came from an explosion, but no matter how much times you blow up a tree, you'll never get a chair. The math is quite simple if you think about it. If you go back to your social studies textbook where you learn about lucy and darwin, you'll know that darwin knew nothing about DNA, and how it is impossible for it to be conformed into another species or matter, but I'm rambling
Yes he does
🦄
Lol not for long
Always talk about giving money like we wont need it in the future, smh. If i give anything its to my family not the church!!!!!
Omar Bagent - What does SMH mean?
@@emailme6785 haha, smh means Shake My Head.
@@omarbagent9829 Thanks, I don't know the internet abbreviations! :-)
@@emailme6785 that expression is annoying tbh (to be honest). You'll start seeing it everywhere now...
@@KevinHPhotography Thanks for the internet lingo lessons! :-)