Dave Ramsey

Getting rich

Monday, Sep 17 in Dave's opinion | Comments (4)

Question: Dave rants about what it takes to win with money, especially when it comes to having car payments. Let's just say his opinion of not having a car payment is ... strong. Listen in.

Dave Ramsey's advice: If you want to win with money, you have to change your heart. You have to ask yourself what works with money and do that. If broke people teach you how to handle money, and you do that with your money, you'll become broke people. The average car payment today is $464. Invest that and you'll end up with $5.8 MILLION!!!

What this comes down to ... the core of this, is that you don't want anyone to tell you that you can't have something, because you're a brat. And I've got a brat living inside of me, too. We've got a culture full of princes and princesses who don't know the meaning of the word "no".


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Hope you like the car!!
# Posted by Matt P | 9/18/07 1:02 PM
Dave. This is one of the best lessons I've heard from you. I just listened to the audio portion of this entry and it really made me think of my parents. They preached that your credit is the most important thing in life and after listening to you today it all makes sense. They WERE ALWAYS BROKE!!! They depeneded on credit to live. Although I only have 1 car payment of $263/mo. on a 2001 Chrysler Town and Country that I bought USED for almost wholesale and financed for only 3 years, I have only a student loan and a house payment. Since taking your course a couple years ago, I have revolutionized my thinking and I HATE DEBT!!!! I don't want to be like my parents and live on credit. So far it has been going pretty good except for the income part. You know the part where you talk about when a person or family just needs MORE income!!! Well, we are finally at that point. I now have a job with a much higher income and my wife is taking on 2 children to baby sit in the home to help out too. If I absolutely need to, we could easily dump the van because I owe way less than what they are currently selling for and I'd be practically out of debt except for the house, student loan and a few piddly doctor bills. Thanks for being who you are and for all the great advice. I live here in Gillette, WY and I've heard that your FPU course is going over real well with the Coal Miners here. They all make big money and SPEND big money. Now a lot of them are in trouble financially and are looking for some guidance and from what I've heard they are taking FPU!
# Posted by Corey | 9/19/07 9:29 AM
You are right. We think we should have the best things we can afford. And I mean pushing our budgets to the limit. I am going to lower my taste a little and save for the future...thanks for the wake up call.
# Posted by billy | 5/9/08 9:57 PM
Clearly 'Joe b' there is poor with math and money and with listening comprehension. In the world of finance they have what is called interest. Hellooooo. If loans were free then we'd all have McMansions and Lear Jets. See, either the bank gets your car payment with interest, or YOU keep your car payment and the bank pays you interest for investing it. Either the money and interest all goes to the bank or the money and interest all goes to you. You decide. Whichever way it flows determines who can afford to build the big buildings. Live small now when you're young and have the energy to do it.
# Posted by Victor | 6/10/08 1:39 PM
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