Dave Ramsey is a personal money management expert, popular national radio personality and the author of three New York Times bestsellers – The Total Money Makeover, Financial Peace Revisited and More Than Enough. In them, Dave Ramsey exemplifies his life’s work of teaching others how to be financially responsible, so they can acquire enough wealth to take care of loved ones, live prosperously into old age, and give generously to others.
Dave Ramsey knows first-hand what financial peace means in his own life, having lived living a true rags-to-riches to rags-to-riches story. By age 26 he had established a $4,000,000 real estate portfolio, only to lose it by age 30. Dave Ramsey has since rebuilt his financial life and now devotes himself full-time to helping ordinary people understand the forces behind their financial distress and how to set things right - financially, emotionally and spiritually.
Dave Ramsey offers life-changing financial advice as host of a nationally syndicated radio program, "The Dave Ramsey Show," which is heard by three million listeners each week on more than 300 radio stations throughout the United States. Dave Ramsey's syndicated column, “Dave Says” currently has a circulation of more than 5,000,000 in publications worldwide.
Dave Ramsey is the creator of Financial Peace University (FPU), a 13-week program that helps people dump debt, get control of their money and learn new behaviors with money that are founded on commitment and accountability. More than 260,000 families have attended FPU classes at their workplace, church, military base, nonprofit organization or community group. The average family pays off $5,300 in debt and saves $2,700 in the first 91 days after beginning FPU and is completely our of debt – except for their mortgage – in just 18 to 24 months.
Dave Ramsey created a group of products in an effort to teach children about money before they have a chance to make mistakes. Financial Peace for the Next Generation is an all-inclusive school curriculum that is currently in more than 1,500 schools across the country. Financial Peace Jr. is an instructional kit designed to help parents teach their young children about working, saving and giving their money. Through Dave Ramsey's entertaining children's book series, The Super Red Racer, Careless at the Carnival, The Big Birthday Surprise, My Fantastic Fieldtrip, A Special Thank You and Battle of the Chores, children learn about working, saving, giving and spending money.
Dave Ramsey earned his Bachelor of Science degree in Finance and Real Estate from the University of Tennessee. A frequent speaker around the country at large-scale live events, Dave Ramsey is a passionate and inspiring presenter who is at ease on both sides of the mic. More than 500,000 people have attended Dave Ramsey's live events.
Dave Ramsey resides with his wife, Sharon, and their three children, Denise, Rachel, and Daniel, in Nashville, Tennessee.
Both state and federal taxes come with ridiculous penalties and interest rates, and the authorities at either level have virtually unlimited power at their disposal to screw with your life if something bad happens.
Never, ever put your emergency fund into things where risk and volatility are factors. An emergency fund isn’t an investment. It’s there to help protect things that are investments and your life.
I hate to break this to you, but overspending is not an emergency. If you budget a set amount in one category and you go over that amount, you’ve got to have something you reduce or cut out completely to stay within your budget for the month.
Many times in life we try to accomplish too many things at once. One problem with this is often it diminishes our ability to focus. When you spend all your time nickel-and-diming everything, the result is that nothing gets done very well.
Rule number 1: It’s not an emergency. Christmas is not an emergency, it happens every year. Don’t use this as an excuse to overspend and buy things you can’t afford.
So, yeah, savings interest rates right now are aggravating. But you don’t have 3- or 4-percent-home-mortgage world without a 1-percent CD world. They kind of go together. In my mind, an emergency fund isn’t there for the purpose of making money. It needs to just sit safe and sound until it’s needed.
The best suggestion I can give is for you to simply make these things irrelevant with your other marketing. Overwhelm potential customers with the quality of your service and experience.
Kids are bombarded with messages about how important they are, and how they should always have what they want. It’s okay to have some stuff, but advertising and other marketing messages in today’s culture can make them think it’s all about them.
Sometimes the best gift you can give a person is to let them wallow around for a while in the mess they made.
Business owners must be passionate about their line of work because they’re going to be involved in each aspect of it every single day. Your vocation needs to be a vacation. Otherwise, it becomes a constant grind, and when that happens you’re in trouble.
From a risk management perspective, which would you rather lose in a worst-case scenario: your home or your rental properties? If they’re in the same general range of debt, I’m going to pay off the home first and the rental properties last.
I think it’s funny when people run out and upgrade on their $7,000 car to buy a $30,000 Prius to save gas. Think about it. That’s an extra expenditure of $23,000 to save gas. Where are you planning on driving, to the moon?
I know a guy who makes $15 million a year, and recently he bought a $400,000 car. Now, I grew up in a small town in Tennessee. I can’t wrap my head around the idea of a $400,000 automobile. But as a ratio, that’s a very small part of his income. It would be like someone who makes $150,000 a year buying a $4000 car.
Trying to keep a side business from blossoming into a full-time job can be a good problem to have though. It means people really like what you’re doing.
Don’t pay for property that isn’t in your name. Land contracts, or contracts for deed, are dangerous for the buyer and just plain stupid!
That was a pretty consistent message around the Ramsey household as the kids were growing up. If you’re not working and making your own way, you’ve got nothing.
My advice is to make sure you’re debt-free and you have three to six months of expenses set aside in an emergency fund. Once you’ve taken care of those issues, you can pile up a bunch of cash in a money market account toward the purchase of a home.
Lots of insurance companies offer these policies because cancer is such a scary thing. It’s a hot-button topic, and many people have lost friends and relatives to cancer.
Private mortgage insurance does nothing for you except pay your mortgage company in the event they have to foreclose on you and they lose money. PMI is foreclosure insurance that protects the lender, and you get to pay for it if you don’t make a 20 percent down payment.