Dave Ramsey

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Kevin from Denver calls into the Dave Ramsey Show. He is having issues getting his debt snowball rolling and his 0 Sum Budget. He is on Baby Step 2 and has had overwhelming success on Babystep one by having 5 times the amount asked for by the step. Dave breaks down Baby Step 2 by stating: List all of your debts smallest to largest and make minimum payments on all but the smallest. Dave asks Kevin to list his smallest debts, and Kevin tells him it’s 234$, which Dave tells him is gone with his savings. Kevin’s next debt is more massive. It jumps to over $3600.

Dave tells him not to break his $1000 wall from Baby Step 1 but start with those smaller debts. Then he needs to break out his overall spending. Every dollar needs to be accounted for and an assignment. Co-Host John Delony suggests breaking out the calendar and breaking it down day by day. He says that this discipline helps you control small areas that lead to taking control of larger areas. When you achieve this, Dave says it leads to better health, wealth, and better marriage.

 

Catch The Dave Ramsey Show weekdays from 1 to 3 pm on Money Talk 1010
Dave Ramsey is America’s trusted voice on money. 23 million get guidance from Dave’s radio show on Money Talk 1010, his podcasts, and videos. He’s a national best-selling author and has changed over 6 million lives with his guided money plan.

 

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