Dave Ramsey

Weekdays 1:00pm - 3:00pm

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Bobby is calling into the Ramsey Show not only to thank the guys for everything they do but with a somewhat serious question. He is 24 and a young father as well. He loves his family deeply, which motivates him to do the best he can do. However, Bobby is ready to leave his family’s home and move on into his own place. A new job has given him plenty to work with and for as it offers excellent benefits and pays. So his question is: Should he continue to live with his parents rent-free or move out to his own place?

Dave puts his foot down immediately and lets Bobby have it. You are broke and still living with your parents at 24; that’s sad. He needs to start piling money up and get out on his own. Bobby has a decent amount of debt, and he needs to start clearing that, so investing in 401k or stocks is out of the question. Bobby’s job offers a decent amount of benefits but doesn’t offer enough pay he may need to get a second job because the rising cost of child care will overwhelm him.

Furthermore, Dave lays into Bobby’s wife because she is not helping contribute to their situation. Bobby’s wife lost her job during the Covid-19 pandemic and now is doing nothing to help contribute, only making it harder to get out of debt. Once there is another source of income, you can start putting money in an emergency fund and getting out of the hole they are currently in.


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.

5 Things You Can Do Right Now To Ensure Financial Success

Have a written plan and budget. He quotes a passage from the Bible where Jesus said don’t build a tower without knowing the cost or you’ll get halfway up and run out of material. Dave further States that no one accidentally wins. You need the plan or you will lose.
Clear Your Debt. Your most powerful wealth-building tool is your income. If you are spending most of it clearing out your debt you are walking backward trying to win a race. You are paying for banks who have nicer things than you that is just stupid. Clear your Debt, when do that you have money. He wants you to win.
Live on Less Then You Make. If you spend everything you make you are a fool. Dave knows that everyone’s situation is different but that’s no excuse. The most common excuse is that wages are stagnant, and Dave doesn’t buy that. If you accept this it is because you stagnant and you can’t blame anyone

Save Some Money. You know how rich people get rich and stay rich. They Save money. You may not agree with Dave and quite frankly he doesn’t give a crap but these are cold hard facts. You’ll always be broke unless you save and that’s all there is to it. Invest and save. 100% of people who don’t save money don’t have money.
It’s not run out and buy a Ferrari that’s the ultra-rich. No, Rich people save invest, and get a return. Rich people are not scamming the middle class out of their money they live below their means and save so they can spend their money on investments that provide returns.

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