Dave Ramsey’s Financial Success Video
Here’s a good video podcast by Dave Ramsey. In just 5 minutes, you can improve your chance of financial success — how can you say no to that? In this video, you’ll learn what Dave Ramsey is all about and what he teaches. I thought the segment on Baby Steps and Debt Snowball was particularly good, but I enjoyed the energy level of the entire segment.
Personally, I don’t agree with everything that Dave Ramsey teaches, but I thought this is a very good video and 5 minutes worth spending.
Here’s a quick outline of the video:
- A brief history of Dave Ramsey
- His beliefs
- Personal finance and wealth building is 80% behavior and only 20% knowledge
- Stop the bleeding and cut up your credit cards
- Learn the difference between wants and needs
- Dave Ramsey’s envelope budgeting system — i.e., Zero Based Budget
- Dave Ramsey’s Baby Steps:
- $1,000 to start an Emergency Fund
- Pay off all debt using the Debt Snowball
- Three to six months of expenses in savings
- Invest 15% of household income into Roth IRAs and pre-tax retirement
- College funding for children
- Pay off home early
- Build wealth and give!
- Never stop learning
Enjoy!
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Great post outlining Dave’s principles. Whether you agree 100% or not, it’s very hard to argue that this is not a sound strategy for succeeding with money. I love it!
Hey I actually just found that CheckingFinder.com is offering a limited time offer of a trial membership to Dave Ramsey’s MyTotalMoneyMakeover.com for every person who submits an application. Just wanted to pass it along!
The one biggest thing I would take from this is the zero based budget system because I just put up a spreadsheet for the month of income and expenses and i barely came up on top which I did not expect actually.
So now i really need to develop a budget to follow so I know where my money needs to go and if i can’t afford it I will have to hold it off.
Thanks for sharing this video… I know some folks debate the edges of Dave’s ideas but the overarching message of having a plan and getting out from under debt are hard to ignore.
Heck, I love his work much, I named my blog after it!
Dave
Thanks for posting this. Even though — like you — I don’t agree 100% with Dave’s plan, he is an inspiring guy who can get people to make positive change in their lives. And that’s doing a good thing.