My Thoughts On Dave Ramsey's 7 Baby Steps In 2024 (DOES IT WORK?)

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DISCLAIMER CONT'D: I'm just a random guy on KZbin so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

[@BryanBalak]

One thing I think people don't understand about the Dave Ramsey plan is that Dave wants you to be at peace with your life. If you are in a lot of debt, this just isn't possible. His plan isn't designed to necessarily turning you into a multi-millionaire, but it is definitely possible if you are younger and getting your life on track. I paid off $164k over 4 years in my early 40s, and I'm 48 now and will be able to comfortably retire. His plan is about finding your why, not finding your jackpot.

[@MaximMaximtsev]

This is the PERFECT explaination of the Ramsey plan. Working the plan at 23 and I've been living my best life, stress free.

[@freethemarkets]

Some people are at peace with a lot of debt. To each his or her own.

[@redeemablesoul]

Well said.

[@shaun0621]

I'm 40 and have 27k left on my house. His plan is about financial freedom, if you have debt you're a slave to the lender.

[@freethemarkets]

@@shaun0621 that's good if that's what you want to do. The term "slave" is subjective. Not everyone sees it that way. Some are comfortable with debt. If you're not, then follow Dave Ramsey.

[@MsMaxinejoy]

Dave Ramsey is the basics. Everyone needs to start there, to change their mindsets. Became debtfree, and investing more.

[@harismuzaffar1151]

I stand with Dave. Nothing like being debt free. The peace in being debt free is amazing.

[@AB_n_C]

I thought to make money, u have to go into debt? Not necessarily but for the most part.

[@Saixjacket]

@@AB_n_C leverage is a money influencing tool, not everyone should use every tool

[@ryanweston9677]

He's overrated

[@15KHPCLUB]

Enjoy your boring, mundane life and I'll keep enjoying my big ass house, 10 cars, 2 boats, and commercial real estate ALL leveraged with debt 😎🏖🚘

[@SuperBrown789]

It works period. His method should be taught in every high school home economics course in the country.

[@wsiak340]

Dave Ramsey's guide is amazing for people who are financially illiterate or lack self control over spending. The problem is, many people don't realise they're financially illiterate or that they have a problem spending.

[@samanthahardy9903]

I agree with you. I had no idea where to start. I had no clue about budgeting or where my money was going until I found Dave Ramsey on KZbin. Now my financial situation has improved. I didn't have credit cards but I found I was spending too much with my debit card. So now I use the cash envelope system which has helped me to budget and control my spending. Now I know where every penny goes because every penny has a job to do.

[@erospawn]

Dave Ramsey is a major reason I am debt free and able to invest in stocks in the first place.

[@SHIFTpodcast]

me too

[@jumokebrunson8337]

me too

[@jamesbyerly766]

It worked and works for millions. Being debt free is never a bad idea. That's what he really promotes. Living within your means.

[@infidelheretic923]

Right. The thing is that strategy won’t make you super rich. Because you need other peoples money to become very wealthy. Now I don’t believe in “good debt” all debt is bad debt. But the strategy that Kiazaski advises is to borrow money to buy things like real estate to rent out to build wealth. So long as the tenant pays it for you that increases your net worth. This strategy is a lot more dangerous of course.

[@lowkey5841]

Facts

[@kuyaChrischan]

Dave Ramsey is great if you're trying to eliminate your debt. But once your net worth is positive, it's time to graduate and listen to more Minority Mindset

[@MrHeavy205]

I agree

[@jenninemorel7693]

Dave Ramsey is great for consumers getting out of consumer debt but businesses need capital to grow and debt leveraging is a strategy to growth and expand your business. Leverage before you liquidate. Most consumers don't have a business mindset

[@ronaldmusula3851]

@@jenninemorel7693 exactly I think you got it. Dave is after the consumer debt being dealt with and is a good thing to be out of debt as a person individually it gives peace on the business side his teachings don't apply even Elon musk's companies use debts to finance operations(investors money for equity). what dave want is a normal person should not play with debt because, in the end, it will ruin him/her.

[@ellasoes8325]

LOL "graduate".

[@Icantevenstandit]

Lol absolutely

[@northtexan95]

Financial success is 20 percent knowledge, 80 percent behavior. The beauty of the 7 baby steps is it forces you to develop and maintain wise financial behaviors.

[@tylersanders2388]

Dave is perfect for the average American who has some credit card debt and wants to have a stress free financial life instead. There are a ton of exceptions to his program but his way eliminates risk completely

[@ThreePuttBogeys88]

It's about peace.

[@han1218]

It's a anti-wipeout strategy. You're pretty much safe during any ups or downs.

[@snakei01]

Well to be honest it has worked for me and my wife we have been debt free for 6years now and it’s the best feeling ever

[@zackeryestes1622]

Debt free won't help in the end......ya gotta Find a way to have 2-5 million cash to stop working and try to account for inflation so 2 million in 20 years maybe 900,000 now. Working a 9-5 =working until you die

[@kylerootphotos]

True. The feeling of no payments to worry about is pretty sweet!

[@ntombifuthidlamini3372]

Exactly

[@staxxius]

People have their opinions about Dave Ramsey, and I can understand that. However, DR is the reason I got out of debt and changed my whole financial mindset. He literally changed my life and I look up to him for that.

[@davidd6626]

I absolutely enjoy your videos, especially "below"! Dude you have a way of saying what I do (but can't explain easily) in a very user friendly way. Jaspreet is awesome.

[@scottbitz5222]

This is definitely a good primer on Dave Ramsey's Baby Steps and gets to the heart of what he's doing. Also, the idea is that when you're in Step 7, you're financially disciplined enough to go an invest as you want and have enough money saved that you can take more risks and still be at peace because all you outflows are not payments for debt. Also, I do know many people who followed his steps do have and use credit cards because they're disciplined enough to never spend more than they make (though I know some very wealthy people like Ron Rule who don't use credit cards either, so it's not just Dave) and I think he knows that, but again, what he's dealing with are people in over their heads without the discipline and financial knowhow to even get themselves out of their current mess.

[@tytytherugbyguy]

Minority Mindset: Hey your plan is too safe old man Dave Ramsey: Go wash my Jaguar and here is a copy of FPU

[@jentom6181]

LOL!

[@johnnyanderson3287]

😂😂😂

[@borikero1]

😂😂😂😂😂

[@errolm8313]

Next week (on the 15th) I will have my student loans paid in full 😊

[@arandomyoutubechannel2940]

Congratulations

[@davidgroff4723]

The Total Money Makeover is geared toward people who are in financial distress. The goal of the baby steps is to guide people to what Dave Ramsey calls 'financial peace'. I heard one investment guru recommend following Dave Ramsey's teachings in your personal life and Robert Kiyosaki's teachings in your professional life.

[@yhckelly]

I was never whole hog Dave Ramsey, but after deciding to pay off the house rather than invest the cash in index funds, I was blown away. The feeling you get from being completely debt free is mind blowing. Pay off your stuff and find out. It's indescribably awesome.

[@pauly5502]

I think it depends on the area..my taxes/sewer/insurance are more than my mortgage portion..if I pay off the house I still have a $1300 payment every month

[@user-jy7yw5kw3w]

@@pauly5502 let me guess, New Jersey? They love to steal from their residents and charge them rent for their paid off house.

[@lightbrightconnect]

Amen to this. It’s great not having a mortgage.

[@Zachery_]

It’s important to do both imo, my mortgage interest is 2.25%, I’m doing retirement and principle payments ($1300) and I just started doing $500/ month in a brokerage account into index funds, might increase this over increasing principle payments as it will likely in the long term make more than saving on that 2.25% mortgage, but I am excited to be completely debt free in around 10 years

[@pauly5502]

@@user-jy7yw5kw3w yup! NJ

[@twinturbo3461]

Dave Ramsey has been a good influence on me.

[@sumitmukherjee9103]

Dave Ramsey concept is to live a happy quiet life with no liabilities and tensions...its good for a personality type and is definitely great for people who are not money savvy or financially bent. It does not make sense for people with different risk appetite.

[@15KHPCLUB]

Yeah you're not going to get a 9 figure net worth, a $14M mansion, and every toy imaginable listening to Dave, that's for sure

[@mryoutube4399]

The 3-6 months emergency fund is predicated on how quickly you can find a job that you are qualified for. A rule of thumb was that for every $10000 you want to earn, add one month to your job search. So if you are making $70-100k, you might need a bigger fund.

[@sinkinpat]

We used to talk about this at work all the time. I used Dave Ramsey method. It gave me peace and direction during the Great Recession when I was 100K in debt and it was drowning me. I am not done with his steps. But I got out of debt, and saved the emergency fund, Ramsey method is designed for maximum impact for most individuals. Those of us with solid minds do deviate. I still argue with coworkers on wither or not to pay off my house. I still want to. I want to have my roof over my head paid off and never worry that if the market turns and I loose my job , I loose my home. Currently at 1.7 net worth. Looking to retire “do something else” in 7 years. I still think DR method is great because it introduces financial principles to many people that need it. They don’t teach this in school, we need to search this out on our own when we are ready. For many of us, Ready is too late.

[@nicholasolivas317]

Many if the other tactics especially those who teach real estates that takes the side of investing vs paying off your home, don't incorporate rusk into the equation.

[@whitejodeci8926]

If that 1.7 is liquid. You could EASILY generate 170k yearly in a simple index fund.

[@thisisatrium]

Can you talk about health insurance? I’ve been self-employed for years and no one talks about the high cost of healthcare on the individual. Also, I’ve been watching you for a long time and I have my middle schooler son also watch, so keep it up.

[@muzaliergaussaint7051]

(2) Phrases that Dave mentions all the time that are very hard to quantify - they are spiritual concepts: - “The Borrower is Slave to The Lender” - “Financial Peace” When you are out of debt and have financial peace - you make different decisions. Specially in our current economic conditions when credit cards rates are being adjusted high and inflation is eating away at any margin that you might have.

[@FinancialShinanigan]

I'm $10,000 in credit card debt but at least I have this Wells Fargo shirt!

[@boloshabazz]

Lmaoooo

[@kindredkey]

😂

[@yesspazsmith9895]

I am a subscriber here and have been a Dave Ramsey fan for fifteen years. I agree with Dave 95% of the time, but not entirely. One thing I think you didn't give a fair shake was the part of Step 7 that said "Build Wealth." Dave is a huge real estate guy, just like you, complete with cash flow and 1031 Exchanges. He made his first million in real estate in his 20s and then lost it when a new bank bought his old bank, saw a twenty-something with millions in real estate debt, and called it in. Now he believes in getting 100% debt-free, then saving enough to buy foreclosures in cash. You can build a massive real estate empire without ever using debt. It "feels" slower, but by doing laser-focus instead of money-multi-tasking, it's actually not.

[@herbythechef7624]

I guess you could just wait till you have cash for real estate but im not waiting till i havean extra 300k for a rental. One of the benefits of real estate is leverage

[@yesspazsmith9895]

@@herbythechef7624 Did you catch the part about foreclosures?

[@RKmndo]

Dave Ramsey's plan CAN work, but he advocates closing credit accounts, not using car loans, watching your FICO score drop to nothing, and using shorter mortgages, if using mortgages at all. This can work fine for a healthy young person who has an employee mindset and a career that they love. Conversely, it's easier to get a good mortgage for your first property or two if you have a strong FICO score. You could even buy/finance them as a business, like Robert Kiyosaki advocates...leveraging debt to build wealth. Kiyosaki also doesn't recommend card debt. He says that it's "bad debt". Kiyosaki has an entrepreneurial mindset.

[@Lagann0]

Robert filled for bankruptcy for his business and now trying to recover by settling new books. The rich dad, poor dad is also not a true story, it's composed of fictional characters and fictional situations. I don't agree 100% with the Ramsey baby steps but I definitely don't believe in the kiyosaki method.

[@eddieblake097]

Hi Jaspreet, i have tried following his steps but i had to deviate a bit. I am investing in 401k, 529 while also paying off debt. I have a lot more than $1000 emergency fund and i am trying to pay off my debt which has proven very difficult. I can't seem to get into a house so I've taken it as a sign to pay off the debt much like Dave would recommend. Its a tough plan but it makes the most sense for those of us who don't want to start a business or try to use other peoples money to get rich quick which seems to be the current trends.

[@edman209]

I used this process and it helped me a lot when I got kore serious I paid off 30k in 26 months and in the process got my mba

[@picksomebodyup]

Nice commentary. I read Rob. K. books and D. Ramsey books. I like Dave 's first three steps then reassess financial goals.

[@feralart]

I feel like Dave's system is a good tool for rebuilding a trashed financial situation. It's not a fast wealth build, but it is a steady discipline to get finances controlled and in order.

[@jstar1000]

I agree, his method is for people over their heads in debt and don't have a clue how to handle money, not for someone like RK.

[@matthewalan8616]

This is 100% spot on.

[@ThatGuyOnYoutube2]

Guess what... thats most people 🤣

[@redbunnyclassic]

Well said!

[@mjojco]

This is correct.

[@albertmiranian2348]

Excellent video! I was unclear about good debt and bad debt in the beginning. Great explanation!

[@frankglover4560]

Great video! I love how much detail you went into!

[@brentking4538]

I have completed all by steps 2, 6 and 7!!

[@lyndaslocs]

That was awesome. I enjoyed your analysis. Fortunately, I was able to pay off my education loans in five years and never became grievously indebted. I just didn't have the knowledge of how to invest properly.

[@Ira_Slingsby]

I don't really agree with the 401(k) take. I get that you did very well in real estate, but for even the "minority" of people, A ROTH 401(k) invested in a low cost index fund can be an amazing tax-free supplement to your Retirement. I'm not going to "retire" at 60, but having over a million dollars in tax-free money sitting on the sidelines from $240,000 in invested principal, I am going to continue to contribute.

[@geoffwhisner5832]

Absolutely fabulous! Keep it up!

[@nikgotro770]

This video is gold to me. Thanks Jaspreet.

[@StarsForVets]

He “created” his 7 baby steps from P.T. Barnum’s book “The Art of Money Getting”

[@francescamiddleton5884]

That's a fantastic book!

[@adnaloy9025]

This is very informative! Thank you for sharing! :-)

[@babyboispic]

Great break down! 👏

[@Mo-vo4vo]

For #3 & #4 - some persons automate #3, and any excess of the contingency amount (3-6 mths) is then moved. They can be done simultaneously in this regard.

[@sangam5173]

Thankyou for this vid I needed this analysis and understanding from a different perspective

[@davidmilhouscarter8198]

9:45 The reason that you get perks, rewards, and cashback is because other people are not disciplined spenders. You are benefiting from from other people’s mishaps. You’re taking advantage of somebody else.

[@Lonovavir]

Dave Ramsey's good for those who need to work on the basics (getting out of bad debt, spending less than you earn, consistently saving and investing money) and there are plenty of people who need to develop those basic skills. He's not so good when it comes to wealth building advice and his credit card advice is hit or miss depending on how you think about them. I give him a B+ and recommend his books/youtube channel to money rookies.

[@AnonDoge]

You just spoke my mind! Traditional methods are just boring and controlling! I want to retire before my bones hurt and my eye get bad!!

[@snoopanoop7705]

I didn't read the book but I've seen some of his videos and used some of the methods while paying off debt.

[@andratoma9834]

You can get very good education from Community College first two years, and only the last two years go to the 4 year college!

[@antonyweaver357]

Excellent video, as usual! I have followed you for a long time and find your output intelligent, practical and down to earth. Keep up the great work 🙏👏🖖

[@Sutterjack]

Ramsey is s debt Nazi and I totally agree with that - debt is a hangover that won't go away! I see no good debt except a mortgage. I respect Ramsey, and I understand his hatred of credit cards, but you nailed it. Even though Dave says that debit cards have the same protections of credit cards, I too have had issues getting refunds on purchases on debit cards vs. credit. Also I've had hassles with car rentals and hotel rooms -

[@Albert-777]

It’s best to use your debit card like a Visa card.

[@davidcisneros4400]

I've never had a problem getting a hotel room with my debit card. Rental car? Yes.

[@DanielTPeace]

THANK YOU!!!

[@en3mes]

Great video. Ramsey started my entire financial journey, so I'm grateful that I discovered him. He's the sole reason why I got out of consumer debt. Although I've chosen avenues that are conflicted with his ideals, I still regard him and his teachings positively.

[@davidreus9321]

Most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification. From my own point of view, you need to invest smartly, if you need the good things of life. so far i've made over 300% ROI off the market this month alone from my diversified portfolio strategy and i believe anyone can do it you have the right strategy. Saving takes long time but investing smartly is the key for short term

[@jarrettmacurdy3612]

You are right. I also started my journey towards actualizing Financial independence. I am sick off earning from only one source especially 9-5daily. But I am having a tough time finding a good investment adviser. Seeing your testimonies, I believe that you achieved this through a good tactical means. I hope you don't mind sharing information on how you made it possible?

[@davidreus9321]

@@jarrettmacurdy3612 I invest across the top markets but not by myself tho. i follow the guidelines of Alexandra Diana Jose. you might have heard of her.. I can correctly say she’s worth her salt as a investment advisor as her diversification skills are top notch/ I say because i see that in her results as my portfolio grows by averages of 30 to 5O% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what her place and not just on some particular industries of my choosing

[@jarrettmacurdy3612]

@@davidreus9321 That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?

[@davidreus9321]

@@jarrettmacurdy3612 She is easy to find , make a quick research of her on the internet with her name Alexandra Diana Jose . She works with anyone independent of their location.

[@jamesarango2313]

I have had the intentions of starting investing. But I always thought it was late but I think I need to stop procrastinating. I will definitely 🔍 Alexandra Diana Jose and see what she can advise .Thanks a lot . This was of so much help to me .

[@goldandsilverstack3]

You are my favorite financial channel ❤️ ty boss

[@Albert-777]

Well explained,thanks 👍🏼💪🏼

[@caruniv3287]

You need to teach your concepts and knowledge with kids in school. I wish I had someone teach me all this when I was younger.

[@draadibhattal7095]

excellent info we can use !!

[@CaseyBurnsInvesting]

I always recommend the Dave Ramsey approach to people who have no business using debt to get rich. They probably need to update that $1000 emergency fund since that’s what a tank of gas costs now.

[@Eyes0penNoFear]

I used to work at a credit union. Occasionally, younger people would ask me if they should get a credit card or debit card. I'd explain that a CC can help them build their credit score, but they should only get it if they know they can be responsible and treat it like a debit card by fully paying it off every month. Every person picked the debit card.

[@bacingram]

You are so right, the entire steps he first started off with need to be reassessed. Times were much different when he introduced the baby step.

[@elysephillips340]

Totally agree - emergency fund amount needs to be increased.

[@matt.108]

Yeah first step should be a month of living expenses not $1,000.

[@brucerowe2895]

@@matt.108 If you can do that, sounds good, but delays paying off any debt. If you save that $1000 and spend it plus more on a credit card, you have to go back and replace the $1000, or the 2 thousand or 3 thousand that you set for your self. A thousand is a lot easier. Better than nothing. But do what you can do, and keep paying the interest on the credit card.

[@cindyspiess9963]

I am doing exactly that except for college fund . I read Rich Dad Poor Dad but I didn't find it to be something that I would or could do Dave Ramsey sounds much more doable and sensible

[@lowkey5841]

I agree.

[@choctawwarrior7198]

Thank you so much for this really informative video. Thank you for keeping it real. 🙏🏼💜

[@brianaspinall1831]

My advice is do a bit of both. I focus on cashflow personally. I then invest that money to give me the ability to leverage the debt. Build it and then use it. I think it's important to gain discipline.

[@zachcumpston1125]

Dude, I wanna be your friend. I could listen to your knowledge all day. Keep it up!

[@farsight42]

One bonus I’ve found with Dave Ramsey strategy is my tolerance for risk is a lot higher. But yea I agree that sometimes different strategies make more sense

[@IVMTAB]

Great points on the 401K

[@allthingswholesome338]

I always watch people who talk about financial education because I want to learn as much as I can. The trick I use is that I have a choice to take the advice or not, so when I look at this you learn from everybody even if its not what to do. Do take what works for you and create your own system with all the education you get. In that way you won't have to compare information because you'd be taking only what works for you. Sometimes it's good to learn what not to follow that is still a lesson.

[@gursimranjitsinghchahal4201]

Jaspreet is genius combination of Dave Ramsey and Robert Kiyosaki

[@notearz76]

Solid advice!

[@e-rod209]

It worked for me, I had no credit card debt at the time, paid off $30k in auto loans and paid off $208k on home loan in 4 years. That was accomplished 3 years ago and since I use that extra money to invest and grow any extra cash I have. Much props to Dave Ramsey. I stumbled across him via his radio channel while commuting to work.

[@justSTUMBLEDupon]

My first credit card was in college and it happened just the way you said where the reps was giving out t shirts if you sign up

[@rkm3o3]

Thank you Jaspreet! 🙌🏼🌹📈💣

[@zeggie510]

I started the cash envelope system because of Dave Ramsey and now I am part of the budgeting community on YT! Saved Thousands of dollars 👍🏼

[@stevenporter863]

Could be dedicated online accounts or envelopes. Just organization.

[@m.b5777]

You are very good at explaining things to the average person.

[@DSA-nj5ej]

Amen brother!

[@robbinarp1193]

Love DAve R. And I enjoyed this video. Thank you for your perspective.

[@michaelspencer6787]

The way you broke down the importance of paying down bad debt first made alot of sense. I always appreciate when I can learn a new perspective on how to approach finances.

[@naioane740]

Big ups brada good video.

[@Yyrdfhjlplnvxsserujbg7]

When could you please make a video on universal index insurance as a retirement vehicle? Thank you!

[@itamchi9084]

Im subscribed to both of yall 🤓

[@SergeCas]

Start with Ramsey for cautionary education then once you learn how to balance your risk tolerance move to Kiyosaki and confirm your ability to tolerate debt, then move to MM to upgrade and fine tune wealth growth.

[@user-id8ng9eq9h]

About mortgage being your greatest expenses, for me the order of highest to lowest costs in life are: - Taxes - Education - Insurance - Energy - Feeding the family - Mortgage, in a very distant 5th position 1-4 are totally out of control and only going up each and every year

[@bnbmarbleboardswoodshop7635]

Can you imagine what a difference it would make to hear at 16 if you made $40k in dividend income and that’s your only income you would pay zero in taxes on that.

[@KawaiiMommie]

Dave Ramsey is a stepping stone but I truly agree get a 15 year mortgage and pay it off as soon as possible I want this 165k off my back asap

[@unityaboriginelove6595]

Agreed. I have $13,000 left on my 2019 Honda Accord. I pay $100 extra a month. I have a mortgage($210,000) and want this debt gone ASAP. I invest so that I could pay off the debt faster. I'm doing all these things simultaneously. Good luck to you!

[@KawaiiMommie]

@@unityaboriginelove6595 yes I started at 210 as well I used all my stimulus, unemployment and second job income to pay down my house like crazy. Then I refinanced to a 15 year mortgage and with the country going bankrupt I am nervous

[@SharitaBlacknall]

Can you do a video with specifics about how to pay little to no tax on cash flow from real estate?

[@dimitritemples4437]

Dearborn, Michigan?

[@soupedkid13]

That bleep was one of the best edits in a while, caught my attention right away

[@G_Money_]

Baby steps does work. I'm on baby step 6. I'm 33 years old, single/no kids, making 85k a year. everyone should at least try it. your mindset will change for the better.

[@OPDNETWORK]

Omg great break down this is what i been saying since i woke up

[@LandaverdeJR]

Dave Ramsey is the best!!! From all your videos this is the best content. you will help a lot of families.

[@loraweemz1249]

1. I changed the savings to 2500. 2. Debt snowball works or avalanche they both work just choose one 3. Save 3-6 mons bills (helps for emergency) 4. Listen to Minority Mindset on the investments on getting 2 credit cards if you’re disciplined Only if not, do it Dave’s way. Invest in real estate and save on taxes with 1031 exchange 5. Grand kids kids/college fund with investment property 6. Paying off house 7. Listen to Minority Mindset and Dave’s about stocks and investment they aren’t greedy. 8. Pray and jump

[@tidus9942]

Paying your home off early is foolish unless interest rates go above around 7%. You are losing out on hundreds of thousands and in some cases millions of dollars in opportunity cost.

[@loraweemz1249]

@@tidus9942 where do you see me saying as you said above pay your home off “EARLY”?

[@LG123ABC]

@@tidus9942 Don't care. I sleep like a baby every night in my paid-off house. Paying off your mortgage is 100% RISK FREE.

[@tidus9942]

​@@LG123ABC no its not. Your money is invested into your house. Miss your taxes and the government can take your house and your equity. If you are in an HOA for some reason, they can also raise your HOA fees which if not paid can have your home seized as well. I will retire with around 10 times the amount of what I would have if I paid off my house early. I rest quite easy knowing I only have a 2.25% interest rate. If rates ever get this low again when my home is paid off when I am 60, I will simply cash out refinance it. Ill have close to 20 million but I will still take that 500k-1 million in equity right out of this house if the interest rates are low enough. Its basically free money. It also the single best way to avoid taxes.

[@LG123ABC]

@@tidus9942 Such a foolish fool. You think you have it all figured out and yet the basics elude you.

[@leonardwhitehead900]

Good analysis

[@carlosballadares78]

I been using credit cards wisely for the past 14 years only for the points and rewards they give me.. i always pay my statement balance on full on the due day... so i dont consider i got any debt.. i only have payments to make inside my budget...

[@deborahcaldwell9775]

Review appreciated

[@siferd18]

Rich Dad and Poor Dad was my first book that got me going in the right direction too!

[@vln6478]

Love Dave Ramsey! It works for me

[@terrierislander1]

You can invest and do emergency fund with the same exact fund...

[@daineramsarran2478]

I think you are right . dose who can control spending have to go with Dave get rid of all credit card debt .

[@jayd9613]

College is no longer affordable for the middle class. Tuition keeps going up every year while salaries stay the same. I feel bad for the kids going to college today. The amount of debt they will be walking out with will shadow them for most of their lives. Go to college and get into $50k in debt or more and graduate and get that 40k a year salary to start. I would tell me kids to not go to college unless you have a full ride (even for PHD/doctor). Not worth it anymore. Knowing what I know now? I don't need college to make a very comfortable living.

[@kahn289]

Nice shirt! Very sharp, Jaspreet!

[@robi6882]

Jaspreet, this bye far is my favorite post. Thanks for your honesty and knowledge!

[@karenacevedo8400]

I definitely DO NOT agree with Dave on credit cards being bad. We used a debit card on a recent trip to pay for the lodging and as a deposit on the sxs rental. 3 months after the trip they went out of business but not before pulling 3k+ out of our bank. Much easier to dispute a charge than get your money back. Never using a debit card/cash for a purchase like that again.

[@frankrodriguezit]

I agree with u. Credit cards are DEFINITELY safer to use. Most people don’t realize, u don’t have to wait for ur statement to come at the end of the month, u can pay ur credit card after every transaction. Although it takes some financial self discipline to use credit wisely, I don’t think earning points and keeping a high credit score are bad things

[@obiej3]

Thank you so much for this. Love all the videos. Always learning.