Dave Ramsey: Why Should You Trust Me

https://www.youtube.com/watch?v=PV5i7-ZjYcA Dave discusses with Ken that the ratings of the Dave Ramsey show have spiked dramatically since the start of the Covid-19 pandemic. Dave says his theory is the world has gone NUTS!!!! The people have lost their minds. Dave explains that what holds him to reality is that he believes in things that have been proven true for centuries. He gives an example, if you jump from a building, gravity will bring you crashing into the ground below. Dave teaches solid truths on his radio program. But, whether it covers financial issues, marriage problems, or more, they always revert to things that have worked. So no matter the state of the world, you can always trust Dave to be an anchor in reality. Dave knows that we survived the Covid Pandemic Crazy wave, but we are currently facing an even bigger economic wave of crazy. With the supply chain and worker shortages, the earthquake that started the tsunami has already hit, and there will be times of worry coming here shortly. You can always trust that when you call in to talk to Dave or read his book, you know it's going to be based on fact and reality. This will ensure your success even in these trying times before the next wave of crazy hits.   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.   Dave Ramsey's 7 Babysteps For Success In this first step, your goal is to save $1,000 as fast as you can. Your emergency fund will cover those unexpected life events you can't plan for. And there are plenty of them. You don’t want to dig a deeper hole while you’re trying to work your way out of debt! Next, it’s time to pay off the cars, the credit cards and the student loans. Start by listing all of your debts except for your mortgage. Put them in order by balance from smallest to largest—regardless of interest rate. Pay minimum payments on everything but the little one. Attack that one with a vengeance. Once it's gone, take that payment and put it toward the second-smallest debt, making minimum payments on the rest. That's what's called the debt snowball method, and you’ll use it to knock out your debts one by one. You’ve paid off your debt! Don’t slow down now. Take that money you were throwing at your debt and build a fully funded emergency fund that covers 3–6 months of your expenses. This will protect you against life’s bigger surprises, like the loss of a job or your car breaking down, without slipping back into debt. It's time to get serious about retirement—no matter your age. Take 15% of your gross household income and start investing it into your retirement. Start with your company’s 401(k) plan and invest up to the full employer match. Then invest the rest into Roth IRAs—one for you and one for your spouse (if you’re married). Stock Photo Now, bring it all home. Baby Step 6 is the big dog! Your mortgage is the only thing between you and complete freedom from debt. Can you imagine your life with no house payment? Any extra money you can put toward your mortgage could save you tens (or even hundreds) of thousands of dollars in interest. You know what people with no debt can do? Anything they want! The last step is the most fun. You can live and give like no one else. Keep building wealth and become outrageously generous, all while leaving an inheritance for your kids and their kids. Now that's what we call leaving a legacy!   More Money Talk 1010 Highlights From This Week https://moneytalk1010.com/author/daviddonaldson/feed/