You Can’t Outearn Bad Spending Habits Forever | November 26, 2024

[@mrsterious5845]

My mother told me that when I was a toddler, I loved opening presents. For Christmas they would give me a new toy or two, but they would also take toys I already had and wrap up those. I didn't know the difference at that age. Worrying whether one can afford the perfect Christmas for a newborn or very young children, is like worrying about throwing the perfect birthday party for a cat.

[@RachelDavies-wn7ir]

Most babies and toddlers are happy with the wrapping paper and boxes from anyone's present

[@laurab5849]

My cat demands the best parties though

[@jjkatz]

@@laurab5849so does mine 😻

[@tracyaf6084]

I love Dave for pointing out the realities of nursing. I’m a nicu nurse and love it, but it’s not for everyone. Most nurses don’t want to come anywhere near the nicu.

[@jjkatz]

I’m a Rn. Mostly worked in psych, a lot of nurses hate psych. I’d be too nervous to work in NICU. Nursing is hard and can be stressful and sad. Most people don’t realize what it’s like until they became one.

[@imlanabae]

Thank you for this insight. I understand the many levels of emotions, stress and adversities that come along with this career choice and in healthcare as a whole. From going through schooling to dealing with parent who are frightened or upset and everyone else involved. I have positioned my wishes before the lord and I trust he will place me where I belong. 🙏

[@dominiquejones6758]

Kids under 3 don’t need new gifts. Wrap up regular household items like remotes, hangers, empty boxes, etc and give them that. They love it and don’t know the difference.

[@jennifersparks7611]

Hangers😅

[@AnnabellaRedwood]

It's kind of low though. They'll have the pleasure of telling their friends my parents gave me coat hangers for Christmas.

[@sarahbear122]

What? Yes they do. Giving little kids gifts helps the parents because kids grow so quickly. If you're worried about "wasting money" then buy magnatiles or books

[@John-du2mq]

Yeah because 3 year old have such amazing social lives with such meaningful conversations that they'll never forget lol. Get real.

[@BrianaBudgets]

@@AnnabellaRedwoodWho cares? When they’re old enough to have those conversations you can tell them why and they’ll most likely think it’s funny.

[@CalvioCoding]

Omg yes!! I went to dollar tree when mine were small $100 for both kids. Christmas & other holidays are all about consumerism. Christmas is not an emergency ever! Now I have teens & we go look at lights & they get money & small stocking.

[@Marlene1231]

Love this. The time together is key & they prefer to have simple things they want to use & enjoy. Happy Holidays 🧡🍂🎄🤩🎁

[@kevingrisler4123]

I wish I would have gotten money on birthdays and holidays growing up lol. Everyone would always try to buy me stuff but they'd usually get something that while I appreciated, did not really want. I wanted video games and dlc lol

[@gracemu3]

Love this episode!❤ Christmas is not just material gifts but experiences with family that does not need to be expensive will make one’s kids remember it forever👍

[@RachelDavies-wn7ir]

I have a young relative who had bipolar, PTSD and other mental issues. Dialect Behavioural Therapy plus counselling with a trauma expert helped hugely. When they were too ill to work, they did pet sitting, which also provided accommodation. Then some short term jobs, and now in full time employment. It took a long time, but the change has been wonderful.

[@tigar0485]

Expose that person to the GAPS diet

[@MattsMkia]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.

[@ChristianKelv]

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.

[@ClarkeGriffiny7]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@Hectorkante]

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person

[@ClarkeGriffiny7]

My advisor is “ Melissa Terri Swayne’ highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@BellamyGriffin19]

I am going to look her up right away on web, I have about $220k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.

[@bettedavis9261]

23:30 we've had numerous lenders with escrow accounts over the years. Not one time was our escrow account screwed up. Yes, there were years it was "short," but that was because the property tax or homeowners insurance on the home went up drastically. There were a few times we got a refund from the escrow account because the opposite was true. It was NOT the fault of the lender/escrow department. They estimate taxes and insurance based on the prior year, so if either of those fluctuates, so will your escrow account. It has nothing to do with ineptitude on the part of the escrow department.

[@laurab5849]

I think this is it…every year this happens to me cuz damn property tax increase

[@stephenayriss5049]

Nobody can predict the future

[@britneyfoster-b]

Investing in stocks is planting a tree for your future; with patience, it will bear fruit

[@elisakeiper4107]

Just like a tree, investments need time and care to reach their full potential

[@britneyfoster-b]

I've been in touch with a financial analyst ever since I started investing. Knowing today's culture the challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders

[@elisakeiper4107]

Mind if I ask you to recommend this particular coach you are using their service? Seems you've figured it all out

[@britneyfoster-b]

Gabriel Alberto William is the financial advisor I work with. Most likely, the internet should have his basic info, you can make a research with his full name

[@elisakeiper4107]

I just google his name and his website popped up immediately. I'm very much impressed and i will email him right away

[@anniethomas451]

I LOVED the Uncle Mac story😂😂 Even back then he was following the Dave Ramsey plan and was still the best Santa at Christmas!

[@JogieLyssAdventures]

I worked summers doing lawn care and bought my first car for $500. Parents refused to help. I learned self-reliance ever since.

[@gootyeriz]

Get a job, Joshua!!! Thank you for your service.

[@michaelcarter266]

For the first caller. In nursing you aren’t caring for just the babies. You have to deal with stressed and often mad parents.

[@imlanabae]

Thank you! And of course, they're probably scared, frightened and drowning in emotions. I'm sure it's hard for nursing, parents and everyone else involved.

[@maximusdecimusmeridius5438]

Joshua brings in 6k a month and can’t have Christmas? Makes no sense. A job would clear debt in a few months.

[@John-du2mq]

Yeah, something doesn't make sense. He's spending his money somewhere or wife is spending money he doesn't know about.

[@SarahSherwin-vo2vi]

I used to want to be a nurse too…until I started working in the hospital and got a front row seat to what they do. I changed my mind real quick! There were a lot of really salty nurses too who clearly hated their jobs.

[@dustinbays-td1jf]

When my cousin were little they just like ripping the wrapping paper. They could care less about the gift. As soon as the paper were off of it they went straight to the next present to unwrap it. Joshua simply doesn’t want to work. Thank you for your service but get off the couch. A childhood friend of mine went into the army and was medically discharged and he literally had to learn life all over again. Not sure what caused it but he had to learn how to walk, talk, eat, literally a new born child all over again and he was still a teenager (or just turned 20). I don’t know the nature of your issue but you still have you mind and thought process. Honestly he needed the book “find the work you’re wired to do” that way he can learn where he can put the skills he acquired during military towards a job, then collage. Good luck buddy. And THANK YOU to all those who served.

[@NaturalWifeyandMamaBear]

Love Dave! Haha. He makes me chuckle every time. And often. Such a hoot! Like my Gpa. Miss him.

[@nicholasnoriega1205]

“My kid is not going to be a heroin addict” i’m sure all the other parents thought the same

[@gracecase998]

Truth about escrow accounts. We took ours out 10 years ago. The company the bank hired messed up the amounts to accrue etc. We saved $150 a month by keeping our money and paying our own taxes and insurance correctly and on time. But we were way ahead on equity so the bank was fine with it.

[@jennieobrien3141]

Working and going to school is possible. I worked three days in the office, two at home, night school, while being pregnant and raising 4 kids. I graduated with my master's with honors.

[@Trustbutverify2651]

Teresa - the last task parents have is to be sure that adult children can survive on their own by letting them learn the lessons to live on their own.

[@striperkid]

She's a helicopter parent like most are today. Definitely doing the young adults a disservice.

[@valeriesuelove]

Joshua, going to school full-time may not be an impactful move to address your family’s financial position right now, WORKING FULL-TIME WOULD. You can go to school part-time until you eventually get your degree while earning a full-time salary to support your family. Your full-time+disability will allow you to clear your debt by spring.

[@pkris2237]

It's not true that most companies don't allow to remove escrow account. Most don't allow that at closing but after a year (some require 24 months) of on time payment you can submit request to remove escrow account

[@stewdogg42]

Why is it always Real Estate Bros who call in, asking for Dave's advice, knowing full well they are not going to follow Dave's advice? Why waste their time, Dave's time, and the listeners time?

[@PrincessLolly1]

Re: the car ceiling cost - we also put a floor on the amount we’d consider to match to be sure it was a safe vehicle.

[@daledaniken4330]

Joshua definitely needs to get off the pity party train.

[@Reddit1872]

He definitely seems like a good waste of tax payer dollars that’s for sure

[@b.c.2836]

Seems like he wanted a pity pary and some donations

[@John-du2mq]

I've never heard of a someone with a military background who is so work averse lol. It's like he's allergic to getting a job. He doesn't even have to do hard labor, just get a job at Walmart or something to make some extra money for your kids.

[@Seabird0075]

I can’t stand parents who hold their adult children’s hands!! I am blessed to have parents who pushes me and my siblings at a young age, 16 yrs old or younger to go out and find a job to earn money.

[@vickymichael4556]

To lady that wants to be a nurse, first become a CNA to work with nurses plus be paid while being with the nurses. That way you can really see what nursing is.

[@gregrob20]

30:30 it's called a self directed brokerage account! Very common and not illegal at all.... You absolutely can allocate a portion to both Principal as the primary provider and Schwab as the self directed brokerage account holder. Now sure why Dave thinks it's illegal.... Also, you definitely do not have an expert allocating your investments for you simply because it's with principal. You still need to go in and pick which investments you would like, otherwise it's just allocating to a default fund which is probably overly conservative and low growth.

[@rickhayes4090]

What should a person do with their Pension funds.... going to start receiving mine in Feb 25

[@Trustbutverify2651]

Jerry's call - most hospitals actually have 403b plans b/c most hospitals are non-profits. Some also have a 457b plan. It would be unusual for a hospital to have a 401k which are generally for profit businesses. The hospital might also have a defined benefit pension plan and offer the 403b as an additional voluntary investment opportunity for employees.

[@bluebelle9572]

I work for a non profit hospital/clinic, they have 401k plan. The investment company provides a representative that will answer our questions.

[@Trustbutverify2651]

@@bluebelle9572 But is that their normal plan for all employees, or is it an additional option? I said that MOST hospitals have a 403b b/c they are non-profits and it is to their advantage financially to do so. Lucky for you if their regular plan is a 401k b/c you have more options for choosing your investments (which may be the reason some hospitals are now switching - pressure from the employees who want additional choices and to manage their own investments.)

[@Trustbutverify2651]

@@bluebelle9572 Just be sure that what you think you have is actually what you do have. A 403b plan also has advisers who answer questions.

[@BrianaBudgets]

28:03 Why does he have such an attitude😂

[@brenvell1]

I love the fact that they have an Uncle Mac😂

[@mattlaeff724]

Eric, your gut is right. Never, ever pay someone, especially one of Dave's 'Pros.' You can easily do it yourself, today, with all the internet resources.

[@_paper_chase_]

Little known fact. 401ks are not free. You are paying fees.

[@cynthiawlaughlin5435]

Nursing is definitely hard work with long hours and a lot of hours. You must have a passion for people not money.

[@EdgarD4GEspada]

35:20 he plans on not working for four years👀😂🤦🏼‍♂️💀 must be nice sounds crazy

[@loucaribou7765]

Registered nurse usually is about 4 years for a bachelor's degree

[@sXePunkV2]

Joshua just keeps saying "absolutely" in response..he's not interested and he's not listening

[@jennifersparks7611]

Sit down for a nice meal at Christmas and tell them y'all are getting ready to leave!! 😮

[@extremeliberty7890]

Ayo Huntington WV represent

[@miloseveggies8064]

So fascinating how you can tell immediately if someone is calling to ask Dave what to do or to tell Dave what they're going to do. The guy wanting to borrow his way into real estate was calling simply to confirm his proposition.

[@elchapojr6219]

Joshua Seattle Washington just watch Friday the movie ice cube father says your word of the is JOB 😂😂😂😂😂😂

[@justducky8508]

I pray to become a bonafide investor. Is college necessary to be a great investor at a young age?

[@Richevanso]

How will the taxiffs affect my baby steps?

[@RCh-k5d]

How does the first caller have "student debt" when she says her GED from Hawaii isn't recognized in other states? Maybe I'm missing something.

[@imlanabae]

Im the first caller. I asked myself that too when I found out it wasn't eligibilie to go to Marshall University. I went to cosmetology school in Delaware so I assume my qualifications differs by state.

[@RS-xq4hf]

@@imlanabaealso I’m not sure where they got the idea that nursing takes six years. You can be a NICU nurse with an associates in nursing. An associates is affordable and quick. Go to a community college and ask them these questions. Good luck!

[@imlanabae]

@ thank you 🙏

[@jjkatz]

@@RS-xq4hfdepends on the state. In California most nursing jobs want a Bachelors degree anymore.

[@RS-xq4hf]

@ I’m a pharmacist in CA and many nurses I work with at the hospital have an associates. I’m sure it does vary city to city but it’s still well worth looking into and still isn’t six years.

[@MikeThePike316]

The caller around the 27 minute mark is probably talking about a self-directed brokerage account.

[@jennifersparks7611]

You can also trade with neighbors new toys new tricycle new bike and their kids get the same because they're getting your toys

[@aelizabethbailey]

She's not going straight to NICU without paying her "dues" in med surg but still making big bucks as a nurse

[@nailatiyllufm7325]

The irony in Dave telling someone they shouldn’t pay $1,200 a year for an expert to hold their account but pushing people toward mutual funds over index funds is incredible.

[@joshuawilliams6153]

I thought the tax deduction didn't matter if you take the standard deduction for a married couple which is almost $30k. Unless he donates more it wouldn't make sense to Itemize

[@MyOpinionMostMatters]

50K for Property management start ? - Unless it is a labor job. That is a GREAT GIG - NEVER leave for nursing

[@imlanabae]

Yes! You can land 50k for entry level with no degree or more. Depends where you live. Considering I'm in West Virginia, this pay is slightly generous. It's been a rigorous job search the last several months.

[@Trustbutverify2651]

Daniel's call - I don't understand why his church doesn't get a 501(3)(c) either - that does not affect whether or not someone can deduct giving on his or her taxes, but it is a real negative for the church - they can't get items they purchase tax free, the church would be exempt from federal and property taxes, Did the church make the decision because it is really small and does not have the money for fees that are required to apply for tax exemption? The use of an attorney, accountant, or other consultant may also be necessary. Or maybe they don't want to file annual reports to the IRS (Form 990)? If they are unwilling to file the 990 which lists salaries, assets, etc., you should find out why. Doesn't make much sense the way it is described in the call unless this is a tiny house church or someone is hiding something.

[@proudgardenista116]

Churches don't have to file for exempt status.

[@Trustbutverify2651]

@@proudgardenista116 It depends on the "status" of the church. Is it a regular organized body, or just a group of people meeting in a home. He was talking about his church having tax issues, so that made me wonder what kind of church it is.

[@jennifersparks7611]

You can go buy them Barbie dolls and cars at the dollar store and they would be very happy.

[@JustKane7]

15:43 SAME THING RACHEL IRRATIONAL BEHAVIOR😂

[@Briely3]

Both an addiction 😅

[@theclothingcottage]

Joshua should def get a job. But I don't think Dave had kids when he went to college and was working FT?

[@jennifersparks7611]

I think he said he had babies at home.

[@theclothingcottage]

@jennifersparks7611 that was later after college when he went bankrupt

[@amireallythatgrumpy6508]

@@jennifersparks7611 Not in the late 1970s he didn't.

[@isidorolopez265]

Why I pay for the cow when you get the milk for free not good at all not good at all. Why because there is no free lunchesEVER!!!

[@AngeXie]

Joshua.. go to work!!! Mind blown.

[@isidorolopez265]

Terrible thing yeah they agreed on it. They agreed and said that was a good thing wrong!!!!

[@aelizabethbailey]

She only needs an associates degree to become an RN and can work as a nurse while getting bsn of she wants

[@makatelli]

90 percent of actively managed funds do not beat the SP500. That last caller should park his money into an SP500 index fund and stop wasting 25k a year. Very dishonest of Dave to not give that advice but instead send him to these "smartvestor pros".

[@isidorolopez265]

AGRRE and I know firsthand absolutely 1000% because I have spoken with the Smart investor pros personally they charge for all the services and I guarantee the charges are quite expensive

[@LordBass]

I've never heard a woman say "why but the cow when you can get the milk for free". Along with the recent call with "maybe I'll just go be a stripper", makes me wonder if caller trolls are getting more clever.

[@mkwyche]

Why do ppl call Ramsey to figure out how 401Ks or PITI work? The Internet has these answers ppl.

[@Patty-xi6gz]

Why do the big million dollar companies get to file bankruptcy and start over and it’s looked down on when an individual wants to do it…..It gives you the opportunity to push reset and start all over but you have to change whatever got you in that situation or you’ll be back in the same situation again. When I field that night I slept like a baby!! Please don’t say anything about credit when you robbing Peter to pay Paul you think your credit is not going to take a hit?

[@jessicameyer7247]

If I got a large amount of money at 18.. it would have killed me

[@Wordsmatter4u]

IF you get the 501C3 to be told what you can and can not preach it is NOT of GOD!!!!!

[@Cleaningfairy1970]

Dave should have also told the first caller that working with Doctors with God complexes makes the nursing profession even harder.

[@isidorolopez265]

Terrible thing yeah they agreed on it. They agreed and said that was a good thing wrong!!!! he said her dad was a wise man because he agreed with the saying why I pay for the milk when you can get it for free not good absolutely negative vibes on that one out once again there’s absolutely nothing for free. Absolutely nothing. This world is for free out.

[@MyOpinionMostMatters]

Another example WOMBS rent their insides ?

[@TulsaDude]

Rachel has a great heart, but she is so naive sometimes, i.e. the 2nd call.

[@tigar0485]

That lady needs to go be a midwife.

[@jjkatz]

Requires a masters degree in nursing , takes 6 years of education and she still has to get her GED first.,

[@ARAJ099]

Joshua the retired military guy is annoying. In school, online, GO TO WORK!

[@DB2A7]

1

[@Wordsmatter4u]

I'm serious Dave, it's so easy for you to encourage this parent to do what you do, but you've NEVER done it with a child that has mental illness. Ask John D. about this!!!!! please

[@Bingbongboi365]

Chill

[@pamelawayne4114]

oh the bragging about how much $ he has is tiresome

[@richsamuel2922]

I find it motivating, something to aim for.

[@LJKNIGHTDIVER]

He was bankrupt at one point he has built an incredible company and built wealth for himself and so many others. He has bragging rights

[@jensystar]

That’s motivation cause he went bankrupt

[@carmananderson3051]

really listen to HIS story and you'll see why

[@lipalesaletuka3432]

switch off.. no one is making you listen to his bragging. Every time he mentions “don’t have debt/mortgage” I literally feel how possible it is for all of us! There’s nothing special about Dave, he’s just honest kick ass dude. Leverage and you’ll owe institutes for life, or do it the Ramsey way and you too will one day just brag 😅