Is Being Debt Free The Right Thing To Do?

[@missnha3871]

I listened to Dave when I was 27. Now I'm 30 and debt free. Thank you Dave.

[@ivgondef4408]

My wife and I became debt free February 2019 and have been smiling every since.

[@barbaraleszczynski2214]

Good for you! Just remember the pain that debt enslaved you! Never go through that route again! God Bless!

[@mikepawlikguitar]

Yep amen! Because every dollar goes into your pocket aside from necessary expenses of course.

[@diskman3001]

For me its April 2019. Same deal

[@andrea9797mdd]

My husband and I know the feeling! It's fantastic.

[@2009blahblah]

Me as well 2012

[@EricFIT]

How exciting does it sound to be debt fee. Debt is like being chained and having to carry around a huge weight daily. Watching Daves videos daily keeps me motivated.

[@fisephalnoxt9031]

Congrats!!!

[@Idiotsincarshere]

Eric's FITNESS Tips our only debt is 2 auto loans at 1.6%. Better to pay it off faster or slow and invest extra $$ in the markets making 7-10% ?

[@zachallen8653]

I became debt free last month as of July 9th, 2017! Paid off my 6th & final student loan and am now on to Baby Step 3 which began earlier this month! It is an INCREDIBLE feeling no longer owing anyone and now working on achieving TRUE financial stability which will soon no longer be a dream! Although I certainly cannot predict your entire future Eric, provided you continue to stay with Dave, you'll be debt free eventually and it won't take as long as you may thing either! Keep at it my friend!

[@Idiotsincarshere]

Juan Francisco Lopez-Sanchez Great point!

[@SirTenenbaum]

That's what a six-month emergency fund and living beneath your means is for.

[@workingshlub8861]

i paid off all my car loan and credit card debt 6 months ago...i am now making double payments on my mortage and will be done in 12 years instead of 23. i still have extra cash left over...feels great!!

[@carolynhurtado9165]

working shlub if you pay weekly vs monthly will knock out few years.. I pay weekly on our mortgage and according to our lender it will knock off 5 yrs because some months there’s 5 weeks and ultimately that excess payments goes straight to principal. Call your lender and see your payment options in terms of frequency

[@RadDadicals]

Great job! Keep up the great work, and don't forget to inspire and give to those around you in need.

[@Mrpachuko13]

@@RadDadicals help yourself first. Invest in yourself. The needy will eventually leave you broke and needy

[@millennialmusicmindset]

Congratulations! That's very inspiring!

[@birdo623]

Ballin!

[@mike1022]

being debt free is the new american dream

[@savadryshuffle]

mike agree

[@subjecttochrist]

well put, but more accurately: it's biblical.

[@davidb8777]

While a nice idea, statistics do not bear this out. I think the vast majority of Americans are still content to borrow for lots of big-ticket purchases. The number of people approaching retirement with little or no retirement savings is pretty startling especially in this age when pensions are pretty much done and over with.

[@fsufan]

I am debt free own my own home. It is financial freedom and peace of mind

[@svetlanikolova7673]

Mike , Ya and I have been living it for 5 years now. It is the best feeling ever. Everything is paid and I only have 2 monthly bills ( electric and phone) and yearly property tax of 18 dollars in the mountains of Bulgaria. I just got rid of everything almost and moved

[@buddydyer7836]

Our culture is so addicted to debt, that it does seem weird to get out of debt or to avoid debt in the first place.

[@zainabshoka4219]

1000%

[@EuniceCChina]

Could not be more true. My friends and family look at me a little side weirdly when I mention that I am attempting to pay off my student loans in 2 years although I have a government job for which I am “eligible” for 10-year forgiveness program. Just as Dave says, I don’t want debt glooming over my head for me to start my life at 35/40.

[@barbusie5217]

Not for me.. My dad was a staunch conservative with lots of money saving advice, that he drilled into my brain the whole time I was growing up...

[@The_Paddle_Smith]

We're surrounded by it and it's normalized

[@simeonshelton]

That’s why Hollywood stars influence bad values by making money rain along side with expensive cars that aren’t good quality vehicles and then all a sudden living poor because of debt.

[@agentnikoli82]

Paid off my car . Have a 2016 Honda CR-V for 25 k and paid off remaining 11k in car loan Now I save 425$ every month Thanks for the motivation Dave

[@GR-uc1gq]

Reliable car?

[@IGamingStation]

Why didn't you buy a used CR-V for 10k or less? Yes, you're paying money to repair and maintain, but I'd bet it'd be a lot less than eating up that depreciation.

[@pederstrand8349]

The point is: It's paid off. Great job! Save the car payment and make it work for you!

[@Lionheart_He-Man]

Yes!!! Great move

[@QualityChildcare1]

Don't try to keep up with your friend, because you may not know the full story of what they are doing. Plus you should live your owe life and do what's best for you and your family. Debt FREE is a BEAUTIFUL THING!

[@bw5187]

I have been listening to Dave Ramsey for 3 days straight I'm dreaming about all of the concepts. DO NOT BORROW

[@jesusbalderas329]

Bradford Walker Smart people are always stepping on their own toes. High income requires also quality accounting, investment strategies and lawyers.

[@dantan1249]

Bradford Walker I read some where that you have more at risk if someone sues if you own unleveraged property.

[@barbusie5217]

I used to listen to DAVE way back when I was DRIVING TRUCKS late at light years ago.. He kept me awake and taught me some real valuable things about money.. This is why I am debt free to this day.....

[@dannyboy9254]

I need to borrow more money to keep up with the Joneses

[@brazenbull636]

@@barbusie5217 same here. Driving trucks. Also debt free. Ill be buying a house outright in a couple years

[@arthurcochran3402]

Dave Ramsey has changed my life, im on baby step 2 and ive already paid off 3,000 dollars from 17k in credit cards, i got only 11 months to go. :) everyone can do it! You just got to want it real bad! Ive made too many mistakes, im done with that ONWARD AND UPWARDS :D

[@fsmoura]

Go Minimal California! Congratz :)

[@alanbdee]

I wanna hear you call in to do a debt free scream. You can do it!

[@arthurcochran3402]

Thanks brother!!!! I definitely can't wait to call in and do a debt free scream!!

[@carolineomidiji676]

how did you do it??????? im currently in school and want to start now do you think its possible??

[@kailenq]

Caroline Omidiji watch his baby steps and follow them. we're halfway there, 12 months God willing.

[@Lionheart_He-Man]

Uncle Dave was and still is right once again!!! High leverage with little to no money will ALWAYS end badly. No debt with flush cash is KING!!! 👑💵💰

[@guyheavengym]

Without question. It gives you such a feeling of freedom knowing you do not owe anyone a thing. You get to hold on to more and have more options in life.

[@MilanBroz]

It does not give you a feeling of freedom, it gives you freedom and I do not mean by that that money brings you happines. But what a feeling after so many years to buy a new device in cash knowing it is mine and I do not owe to anybody:-)....

[@littlelarry2912]

One of the best feelings you can have. I don't know many people that know the feeling. That's scary

[@tarjab9151]

A paid off home mortgage is taking the place of the BMW as the new status symbol of choice ❤️

[@MaliciousSRT]

New BMW doesn't mean anything seeing as most are bought on those crazy 84 month terms

[@djmocha7]

SP392 True. I heard one of my coworkers (I work at McDonald’s) say that someone came to the drive thru in a Lexus, and was ordering from the dollar menu. I’ve been watching some of these videos, so I said “They’re leasing the car.”

[@MaliciousSRT]

@@djmocha7 Look at the license plate frame, if they're broke and have bad credit it won't be from a lexus dealer, it'll be from a loan shark used car lot and some charge interest as high as 25%

[@mr.speyside5240]

🙌🙌🙌

[@wowfrosted13]

One of the better calls. Dave provides real life examples, spits some truth, and the lady seems quite reassured of the plan.

[@Brownaldo2]

This was a good one. Listening from London, England. Stumbled upon this guy. Flippin love him

[@kristalynmourn]

The gambling analogy is exactly right. Lets be honest, unless he has his house for sale on the market right now and gets a buyer to pay top dollar He hasn't really made anything. How many gamblers do you know that leave the table when they are "winning"?

[@asterisk911]

I bought a flat in Hong Kong with 10% down and within a decade the value tripled. I literally couldn't have afforded to buy it without a mortgage, and I'm much wealthier for having done so. I'm glad people feel good about not having mortgages, but my wealth is genuine. (Edited to add: I don't have a mortgage. I DID have a mortgage; I don't now).

[@akeishaharris]

yes because God tells us to owe no man anything.

[@Stumc46]

I asked Alexa how to get out of debt. She replied "stop borrowing money"

[@chuchuliben1352]

Hahaha

[@fanmaxis3004]

Alexa is watching and hearing your every move do not trust her!

[@farahhumairamohd2946]

Have you asked Jexi. Lol

[@Spaceysgurl]

I would love it in Chris Hogan's voice.

[@fingerstylefan]

Haahaha....I asked Alexa how to get out of debt and she said to listen to the Dave Ramsey show haahaha...no lie.

[@Adi-tf4jk]

Ever since i started watching your show Dave i have made major changes in my life. I was lofting on my 35K student loan even though i had the cash on hand on for a year now . Finally decided to go ahead and payout the loan which was charging me over 7% in interest today and there is no better feeling . Even though my bank doesn't have much money today but all i make from my job is mine . Thank You !!!

[@davidb8777]

This episode really rang true for me. I first became familiar with Dave's work and that of others about 20 years ago. About four years ago through no fault of my own I became unemployed for almost 2 years. If I had plenty of debt payments to make, I would have lost a lot if not everything. Thanks to zero debt and a good emergency fund I was able to make it through this difficult period unscathed. While it involved a lot of belt-tightening, my net worth actually grew during this time between my home and investments!

[@philmarsh7723]

Home "equity" isn't really available wealth. It's just an excuse for the county to raise your taxes. When you sell your house, you usually have to pay just as much for your next house.

[@bullrunfast]

"The building that I'm in is worth almost 20 million" talk that sh!t Dave! 😁

[@laurzee]

Love that. Swagger, dude.

[@insideoutsideupsidedown2218]

Worth $20 million, and paid for. And appreciating without anything leveraged against it....

[@mariahmiller4779]

I so appreciate her question and his answer on this. I had been thinking, because I know people who have bought homes and now are sitting on more equity than I could possibly scrounge together saving for years, all the while I really want a house. However it makes sense what he is saying, they have debt, which is a sure thing and they have equity which isn't a sure thing. The only way that equity means anything is if they sell now, and if they don't and the market goes down they're in a hole, so it is a gamble. And the financial peace that comes from not gambling is worth an amount of equity. Also I've been thinking that maybe doing the right thing for goodness sake, is it's own reward.

[@fsmoura]

_"They have debt, which is a sure thing and they have equity which isn't a sure thing."_ Summed it up marvelously!

[@yuchengguo6074]

Great point! The leverage is a double edged sword and should not be played with, even if you think you can handle it!

[@stevemyopinion423]

I would only use it, in case I could lose it,. say I own my home have a few 100k in stock. now I take 300k to buy a 900k apartment building, then use the money to pay it down. then in 10 year best I could have a 1.6 million paid off building. if something goes bad, I might have to sell for 700k so I would lose 200k BUT since I have a good down payment, and 10 years worth of payment in stock if I need, and I paying it down, it would take a lot for me to lose it. this guy would have to just lose his job for 3 mouth, I have not get enough TENETS for 10 YEARS plus this would have to happen a year or two after I brought, becosue after 5 to 15 years, it would be almost to all the way paid off. plus I have to lose my job and cant find one for a few years, so why I could happen to me, it would take a lot, him not very much at all.

[@BryceJohnson88]

Debt free and loving it!!! Sleep soooo much better and already feel like a millionaire compared to my broke friends with nice cars. Saving money like a bandit and will be a real millionaire soon!

[@Ausprep]

When you die though are you going to be happy you didn't get to drive a nice car

[@noellerobinson8752]

MySimpleChannel There are more important things in life

[@mohammadwasilliterate8037]

@@Ausprep I can drive a nice car if I choose to because I am debt free with 4 homes, just bought my wife a car CASH.

[@Isika123]

❤️

[@Cahluvca]

Equity is tied up money unless you are going to sell the house!

[@alp.9672]

KLUV exactly

[@skylinec83]

HELOC or home equity loan.

[@benji_bugatti8731]

Happy sharks

[@dantan1249]

Patrick Hogan I think he questions the average persons ability to pull that off. The people that need his advice aren’t exactly the ones you would expect to be good at real estate investing

[@justine.3774]

It's called cash-out refinance or even a HELOC (Home Equity Line of Credit), which you can tap into if there's a worthy investment where it would make sense to proceed with that kind of option..

[@AmanBansil]

He’s so right. High leverage killed my investments. Soon as I stopped leveraging and focused on getting a “bigger shovel” rather than betting big on chasing returns, my net worth started shooting up. Now I’m more than 2x of where I was and it only took me 4 years to get here. Leverage responsibly.

[@richard1113]

Also don't believe her friend is shooting straight. I bet his house is worth $750K but it sounds like he owes a lot. That's not the same as $750K in equity.

[@stevemyopinion423]

he say had brought a 750k house that worth 1.5 million. she brought say a 400k house that worth 800k BUT when he lose his job, that house might be worth 600k if the market bad. and he has to sell her house might be worth 300k BUt she should own it, so even if she lost her job, she could keep it,

[@knottheory79220]

To be fair to this woman, her question is not dumb. Higher returns are associated with more risk. I agree with Dave however; most people's lives are too subject to "off spreadsheet" risks to leverage themselves. I mean if you were so rich you could pay your mortgage off in cash any time and not be hurt in any meaningful way, it would make sense to leverage yourself with low interest debt. But that's so far beyond what even most millionaires could ever hope to experience, it just doesn't make any sense for 99.9% of people to do.

[@freeman7296]

As a very low debt person - I can tell you there is no better way to live. I own most of my paycheck and can save a lot - no borrowing required and when we need or want to do something - no pain and suffering other than parting with savings we work so hard to put away. The hard part is actually spending as well as having to have people tell me I"m crazy and I'm doing something wrong. I keep my mouth shut and just keep moving forward, but it's a pain sometimes.

[@gototheantusluggard2644]

Out in South Africa 🇿🇦 Love and Respect ✊ Mr Ramsey

[@Letsele]

Fellow SA listener 💃💃, debt free is the goal

[@strawberrycheesecake7912]

Same here busy trying to pay off my car loan hoping to be done end june.

[@mr.speyside5240]

Every single person needs to watch this video!!!

[@fobbitguy]

I live in the Boston area and that bubble is about to burst! You and your husband did the right thing!

[@angied1178]

What a great message from Dave! It's so hard to find sound advice like this out there! God bless you Dave!

[@omaxman1]

I've been always wondering about leveraging and this answer really hit home

[@notyouraveragejoe2026]

"You wouldn't ever model personal finance after a hedge fund and call that intelligent. That's moronic." lol 1:45

[@fastxsam]

Example. I make less yearly than my neighbor yet I'm always able to save something. He is constantly behind on my bills and mine are paid off very early. I owe nothing and he has a lot of debt.

[@CliqueOverAnything]

How do you know your neighbors financial situation?

[@bobmarker6812]

I've followed this way of thinking before Dave had a show. Things get old. Debt freedom NEVER gets old. Yup, it's the only way to go!

[@Lilmookie1672]

I work in the casino business... same concept only hear when people make money never when they lose it.

[@karimlours]

Mr Ramsey and Dr Eric Berg are the best advisers in the USA

[@wkdravenna]

Karim BEKKOUCHE like debt free kale salad?

[@fireeye33]

wkdravenna no, it’s healthy and profitable kale salad

[@VINGIGGSGarage]

Great video Dave. Keep fighting the good fight, Ive been joining you to do the same except Ive been focusing on helping the next generation. They need more help than ever! Financial knowledge will keep them free

[@DarinPirkey]

Just because something worked out doesn't mean it was a good decision. It was high risk. You did the right thing. No debt gives you options. If the market turned he would have all that debt and you would be debt free regardless of how the market goes.

[@biskit7]

How quick we all forget 2007!

[@michaelweyenberg6238]

Yet Ramsey says that won't happen again anytime soon.

[@yota97]

And look at us now 😩

[@carloscesar8603]

Warren Buffet first big investment was in Geico and other insurance companies. He used them as leverage. He collected the insurance premiums and invested into other companies.Their is a time and place for leverage.

[@Promisedland_garage]

Its dificult at first but ,i am on my way i have beat my credit cards and now are 0 ,i feel way better imagine fully debt free

[@lianakriebel]

That's awesome! According to the statistics, you've already made it further than several thousand others!

[@janefromthecountry1820]

Nice job, Jean Tek! Did you cut up the cards and close the accounts?

[@MalakiDenis]

It’s not how much money you make, it’s how much money you spend - that is the difference between being wealthy and not. The more you keep, and the less expenses you have determine wealth.

[@Zero-gh9lp]

Equity is great and all, but in the end something is only worth what someone else is willing to pay. If housing market crashes then all that risk could be worth little gains. If his finances are a mess then he could lose that house to the bank if times get rough. Dave is so right here

[@fleurelise997]

I agree. At least you can see the proof of Dave's success here, unlike his critics who keep crying him down.

[@ladyt618]

How can someone feel bad for being debt free?? This woman needs some help

[@pvtimberfaller]

I think she was upset about missing out of a money making opportunity.

[@ladyt618]

Ross Arnold then clearly she doesn't know Dave Ramsey well. Abandoning your debt to POSSIBLY make money is not smart.

[@knpstrr]

keeping up with the joneses mentality

[@alanbdee]

What she is trying to understand is the one issue with Dave that I argue with others about the most, and there is a lot of merit to the argument. If I pay 2.5% interest on my house but can earn 17% on my investments then why would I put any extra on my house instead of investing it? The missing part of this equation is risk, as Dave explains.

[@rdridin4850]

Because her life is mundane. You can hear it in her voice. Her friend on the other hand is enjoying life. As you should...

[@aolvaar8792]

Not because your debt free, because you can. You can be $5M in debt, but have $10M in cash. In 2007, I moved into a cash position( Your dog was getting a mortgage). I bought a foreclosure in 2010, The former owner paid $220K in 2006 and made $20K improvements . I paid $120K, ~$500/mo, 3.5% for 30yrs. 4Bd,2Bth 1732sqft (current rents about $1500/mo) $7K got me in, bought new appliances, tile , carpet. My wife and I draw 2 government pension checks, 3 SS retirement checks( we have 4 adopted kids)

[@peanutbutterisfu]

When the market crashed I to Florida in 2009. I was too young and stupid to realize what was happening. I seen houses in Leigh archers Florida that were only a few years old with asking prices of under 50k. I moved back to New York and after a few years I realized that people bought many of those houses, held on to them for a few years and made 100k per house. After watching Dave for a few years my goal is to save up a ton of cash and wait for the housing market to crash again so I can do something like that!

[@PortlandMan]

Bought a property for 1.5m then sold it for 4m. That's gotta be the flip of the century.

[@MariusNinjai]

Whats your job

[@pederstrand8349]

Remember the old saying about risk: "A bird in hand is worth two in the bush." You sleep so much better when you have no debt!

[@particularbaptistvoice9492]

Excellent - ignoring risk gives people scars.

[@kulpatel7624]

We paid off our home mortgage yesterday Feel so good

[@johannesswillery7855]

You are now free.

[@domoeast08]

Congrats i will be off he Hook with my Mortgage in a few years..

[@bearadams34]

Reminds me of a time in Vegas. I played 5.00 hand at A roulette table. Really didn’t win a lot, but it’s what I budgeted for that trip ( 300.00) total. My buddy threw 100.00 hit the right number at the right time and BOOM up 3500.00. As I felt stupid and worthless for not going big as I had one Or two numbers hit. I felt like hey maybe I should go big too. Next day he went to every casino throwing 100.00 on every game possible. He figured he’d continue winning as he had 3400.00 to do so. By the end of the day he was 5000.00 in the hole. While I lost 300.00 for the weekend I had saved and budgeted for. he began hitting me up a week later for a loan. Short term vs long term.

[@mohammadwasilliterate8037]

5yrs DEBT FREE, Building my 4th home CASH, and just bought new car CASH, let me assure anyone in the comments, Dave is dead right here, don't question it, DO IT.

[@ONLY1KUDWE]

You're motivation, thank you.

[@Lionheart_He-Man]

Yes sir, on way to being debt free since Jan 2020

[@ZayingIt]

@@Lionheart_He-Mannice! Best feeling ever rooting for you

[@jasonwou3003]

TO do this properly, You need 2 houses. One your family lives in, and One you can sell. There is NO OTHER way around this. It does not matter a squat if the house you live in go up in value. You can't realize this gain, unless you sell that house and move to a significantly cheaper house. It's all in the paper (and brain) and that's what Dave is talking about. I see this all the time in Korea Japan China. Housing price appreciates like CRAZY there. People think they are all rich, but unless they sell the house... it's all fake money.

[@justine.3774]

It's equity you can tap into to leverage and collateral for investments that would yield a higher return. Unless you're in an unfortunate anomaly like the Detroit housing crash, if you hold onto real estate in the long term, you WILL make money. It's a matter on generate revenue to keep your head afloat via tenants; however, finding an investment property that's immediately positive cash flow is like finding a needle in the haystack. One example is my family NOT selling 2 of our homes. Both homes 1 year later are positive cash flowing where the rent from our tenants are paying off those mortgages, while the net profit are incomes (after maintenance, management fees, etc.) roll over into our mortgages of our primary homes. Instead of choosing to sell out old homes, we are creating additional revenue streams to accumulate wealth through.... what do you guess? Additional debt via multiple mortgages!!

[@stormblade1199]

I mean that's like saying Elon Musk isn't wealthy because "it's all on paper" lol😂 He can easily borrow against his stock just like you can borrow against your home equity

[@alanbdee]

This may be one of the best videos that explains why you should pay off your home instead of invest that money. It can and does work for some people some times, but not always. You have to look at Dave's plan as a whole. While it may seem conservative to pay off your home early his investment strategy is often deemed risky. You put the two together and you have a more balanced portfolio. So instead of balancing your investment portfolio with bonds as many would recommend, you're doing it with your house. As he has said many times: "100% of foreclosures happen on homes with mortgages."

[@steveng.c.8524]

We are happy to be debt free, being debt free is nice...

[@FC-kx5yh]

My wife and I are about to get started on Dave's program. I'm thinking that by the time we are ready to buy a home, I'd rather hold on to money until there's another crash because yes it's coming. Averages 10 year and we're at 9yrs from 2008 crash.

[@youngsamuel1]

Having a mortgage is NOT debt free no matter how it is spun.

[@MrWarrenRB]

youngsamuel1 agreed, it’s a place you can call home, but it’s still debt

[@steverodriguez6030]

First time listener just found it about a week ago starting on my baby step 1 let’s see how it goes

[@TheRamseyShow]

Thanks for checking us out! Stay focused on your baby step journey and you'll win. We believe in you!

[@MansterBear]

It's been 9 months. How is it going? I started 7 months ago.

[@57jauar]

WOW, sounded JUICY what she started out saying, because I have people around that brag like that, then I feel little, but now you reopen my eyes, all my stuff is paid off, not much, but paid!

[@Hangloose-ee2me]

Dave Ramsey really helped to get debt free,I'm earning more money cause I have money to get tickets & licence for work that got me better paying jobs in Construction..Just followed his baby steps & simple lifestyle ..God bless from Sydney Australia..All this just happened in time with major construction boom in Sydney 🙏🏼😎

[@ErrorPagenotFound-ig1cy]

Why not? I got a paid off car ($388 a month) Which lowered my insurance ($150 a month at least) Two credit cards that will be paid off next month (i pay $250 every two weeks) That’s a total of $1038 A MONTH I can provide security for my family and more “play money” I can use to grow and invest wealth on. Thanks, Dave.

[@younglion2269]

The game you give its uncanny!!! Thank you Dave!!! 😃

[@GhostRider-870]

I save 52% of my take home pay every month. So yes, being debt free is a good move in my opinion.

[@paulinalinus5714]

I feel lighter now that am debt free and am able to dream big.

[@freedominabudget]

Wow great discussion!! Love Warren Buffets analogy!

[@kdelete4949]

Warren was referring to over leveraged companies. Almost all companies use leverage to grow.

[@Contreras-z4e]

Dave Ramsey Coming in with the Looong bicho 🔥🔥🔥

[@chanceussery4090]

Best to be debt free than to be up to your eyeballs in debt.

[@Gas_man]

If you sacrifice investing in your retirement in order to pay off low interest debt then it’s the wrong thing to do. I’ve started watching the Money Guy for financial insight and really just watch Dave as more of a guilty pleasure because I like the calls.

[@firstsecond9569]

A hedge fund is the opposite of "an ultra high risk play". They hedge their bets to reduce risk, it's in the name

[@janniechua9569]

Thanks very much Dave for your smart and realistic advices.

[@pmw3839]

Ramsey at his best.

[@vincentschuler2408]

I'm 95% on board with Dave. But I invest in rental properties, which means I don't put extra money on my mortgage. I will instead keep purchasing income properties. I'd like to hear his thoughts on this.

[@Shadow2084]

I know God still gives common sense to everyone when born but I'm guessing fewer and fewer people choose to use it today. Thanks Dave!

[@nathanielcarreon5634]

Somebody is not debt free if you have a mortgage.

[@justine.3774]

If you have debt (mortgage for a rental property) that is getting paid with passive revenues (rent from tenants) AND the revenue you're bringing in positive cash flow throughout the lease.... Do you consider this a bad debt you need to get rid of?

[@insideoutsideupsidedown2218]

No, but i would get the property paid off quickly

[@mistermcsir678]

Love this vid!!! The next financial crisis is soon to come! Then we will so who is "skinny dipping"

[@BadBrad119]

thorough teacher.. one way to put it, great videos as usual!

[@Jarrd260]

Im out of debt now, live at my dads too. After getting debt free earlier this year I went and just had fun over the summer just spending it on vices and being extra. Saving cash hard now to try and get a house. Im 22 going on 23 and hopefully by 27 or 28 I'll have enough for a cheap house.

[@tdcamb2686]

He hates it when someone makes alot of money that didn't use his system. He calls them stupid or ignorant.

[@johannesswillery7855]

Dave's plan works a hundred out of a hundred times.

[@Yourbody_MYCHOICE]

From personal experience…. Being debt free is awesome. With house paid off in 5 years and buying a basic car with a check, my bills are significantly lower nowadays. I have been able to save money and build wealth by investing in the stock market. No more stress lol

[@kylecrisman9230]

You have to take risks to get rewards. Sometimes you win sometimes you don’t. The 9 to 5 job is not cutting it in most cases. That’s how uncle Dave stays rich. It’s because of the 9 to 5 people. Let this sink in

[@brofenix]

The lady asked @1:53 to clarify why it was "moronic" for the guy to buy an expensive home and compare his action to a hedge fund's strategy. Dave then just repeated himself and asked "do you get it?" ....Dave, you just said the same explanation twice, the lady needed it to be explained a different way.

[@Jack_all]

One of my rental properties pays for itself every 7 years and currently pays another mortgage... I couldn't just buy my first house with cash like Ramsey says (unrealistic to most IMO), but I am so glad I invested in real estate and took a few risks earlier on.

[@GregMagnusAIM]

Did Ramsey become debt free before he was wealthy? Or, after he used OPM (other people's money) to become wealthy and, subsequently, debt free?

[@hayward022]

Yes.

[@MilkPudding]

"When you ignore risks and get old , you get scars." That's assuming he manages to get old. Some couldn't even make it

[@fleurelise997]

I think many of the clamouring critics here forget one thing. It's fine to risk debt if NOTHING goes wrong in your life. But if nothing goes wrong, it's because you're already in Heaven. Life happens, so a debt free one as far as humanly possible should be the chief aim.

[@RUGGEDBREED]

it's the most rightest thing to do

[@jayb.8460]

Sometimes you have to take risks...

[@jeffhermida4788]

6:41 Hard criticism for “that other guy” then says he was once that other guy once. LoL its risk like this that made Dave Ramsey the guy he is today.

[@jasonrobbind231]

100% debt free for the last 6 months my savings account grew $50,000 and I have all kinds of anxiety now first time I've ever been debt-free in 30 years.

[@bestly802]

People need to change the way they think. Just because you bought a house or car doesn't mean you own it. You have to pay it off 100% before you own it. You're just borrowing it until then.

[@Teamshmo]

The problem is to make a ton of cash you are going to have risk. If you see the market is somewhat low and it will go higher taking a huge loan when the property should go up in value isn't the stupidest thing ever. However, if you don't look at the market at all and take a huge loan than that is a problem. If it has been really high for a couple years its chances of crashing are a lot higher. For example, if you bought with a massive loan when Dave bought during the financial crises you would be very rich right now. However, if you bought when things were good and just before the drop with a huge loan things would be very bad. If you are planning on taking huge risk just look at the market and gauge where it is at.

[@derekwhittom1639]

700k in equity sounds good until you an economic downturn and the value goes down 40% and you lose your job, and still have 50% of your prior income in debt payments. Rice and beans are shelf-stable and they’re cheap.

[@onset5610]

So motivating

[@eydat]

You're a saviour Dave.

[@TheProchargedmopar]

Excellent examples, Thanks!!!

[@gwendirks3062]

I actually had a gal ask me why she would want to get rid of her house payment.