This Baby Step SHOULD Scare You!

[@TheRamseyShow]

Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/3g11A2V

[@PriscillaPretzley]

Love this guy calling in. He's a grown man who listens to his son about money, and admits he's scared. THIS is a real man. Admits his feelings, and faces the facts.

[@krystiesolfyre5340]

Yes. We need more men like this in the world.

[@think_fool]

agreed

[@jhanc8365]

Agreed. A real man admits that he doesn’t know everything and listens with an open mind.

[@bostonhampton4113]

Amen and amen!!

[@clarifyingquestions]

Takes 50 years to become a "real man". Yikes! But better late than never.

[@wingwalker2458]

I put 35% in my 401k, paid off my mortgage, I am debt free and just retired at the age of 58.

[@dedalliance1]

Must be nice to be wealthy.

[@ew2645]

@@dedalliance1 don’t be that person. That attitude will keep you broke.

[@Hostyl176]

It is nice to be wealthy, but the poster isn't (wasn't) even a particularly high earner. Max 401(k) is $19500. If he was putting in 35% of his income, at most he was making ~$55K. That's a perfectly average salary. (Median household income ~$61K in 2018). It's just spending less than you earn.

[@dedalliance1]

@@Hostyl176 Yeah except for the difference is he's old. If he were my age that extra 35% of his income would go straight to his home and overpriced cost of living expenses. If you only make 55k dollars a year pretax where I'm at in Colorado you're looking at probably spending 2k a month on your mortgage which doesn't even buy you very much or nice of a home. 55k a year minus your 30% taxes is like what, 3k a month? 3,500 a month? Good luck affording anywhere to live around here. Even renting just a room in a house is 500 plus a month all the way up to 1k a month potentially. If I was 58 years old too and could buy a house in the 90s yeah I'd be pretty well off too.

[@jimroscovius]

@@dedalliance1 That's a bad attitude. You can do what I did - move to a cheaper area. There are always choices - good and bad. The object is to make the good choices. I live in Sioux City, IA, not Chicago, Denver, or some other expensive city. My wife has a great job, I was in IT, but now I teach part-time. We have a paid-off house, and over a half-million in Roths, and still investing. We can do that because we don't live in an expensive area.

[@ripwins]

I TOLD MY DAD ABOUT DAVE RAMSEY A FEW YEARS AGO, HE WOULDN'T LISTEN....IM 37 HOUSE PAID OFF, BUILDING WEALTH EVERYDAY....i wish my dad would listen

[@brucerowe2895]

moneyrip1 hope you don't have to take care of him in his order years, give him Dave Ramsey's book or lay it somewhere, maybe he will pick it up, or pay him to go to Dave Ramsey's course. But he is to comfortable to change.

[@thekraemer1757]

Dave used to use the phrase "powdered butt syndrome" meaning parents won't listen to or take advice from their children, no matter how sound or accurate. Mine is 90, just finished paying off a high interest, 30 year mortgage on his retirement house he doesn't need. Has a loan on a car he doesn't drive because he can't anymore. I'm his executor, won't discuss anything financial with me so it will be a big surprise at the end. I begged him to sell the house over the last 10 years and we'd get a place together and unload the property he's no longer maintaining. Nope, just keeps singing Ringo's No No song. I'll ultimately be left holding the bag but all his life he's had a laissez faire, que sera attitude and his age unlikely to change. Worst part is it's delaying me retiring and getting out of my overpriced digs because I'm his only lifeline.

[@cantgetright742]

@@thekraemer1757it’s worth it in the end because you know you did what you thought was right. The regret in the short term set backs won’t hold a match to the regret you’d have if you didn’t do what you thought was right.

[@philipmeyer8801]

​@@brucerowe2895real facts

[@jeanmccallum-xs8rk]

I wish everyone would listen to Dave.

[@miketucker3571]

We did the "baby steps" and when we paid off the house I retired. We get a nice pension and live very well in retirement. I am blessed to have been able to see beforehand that being debt free is the only way out. Thanks Dave, it worked.

[@brycehedstrom374]

Dittos. Same story.

[@loueckert4970]

Same here, now 70 with NW around 1.5M. Thanks to Dave.

[@Polo22546]

CONGRATULATIONS!!

[@readJames48]

Pensions aren't forever..

[@Weakeyedominant]

​@@readJames48if you save properly they will get you into your 80s no bother.

[@lisadawley]

Following Dave got me out of $100k in debt, it was painful but taught me valuable discipline. I LOVE being debt-free with savings in the bank!!

[@yuhboi8559]

I’m tryna be like you !

[@TheMallen07]

I paid off 103k in about 3-1/2 years. It was so grueling but so worth it. Some lessons can only be learned in the valley. There's nothing like debt-freedom!

[@johnsmithelite9846]

He got me out of almost 400k of debt. I got 94k left to go on my house. It’s like being unplugged from the matrix.

[@kikyamart8749]

I can't wait...

[@Smsrules1]

Calls like this are why gigs like Dave's will always survive and thrive. Regardless of income, people will always need to be nurtured into learning how to manage finances, especially in this country.

[@TheMatadore]

Dave and Rob Kiyosaki have different views about debt but they can agree on the fact that most people in this country know very little to nothing about money.

[@TheRis81]

Na, bible is a load of bollocks

[@pvtimberfaller]

I listened to Dave for ten years before it clicked that what he taught was relevant to me.

[@mitshua]

Why did you start listening in the first place? Just curious that's a long time lol

[@suzum.9713]

Made me laugh.

[@naomiscollectionofvideos4231]

"Be not conformed to this world," is so true!

[@paulthevol]

The difference between poverty and prosperity is discipline. You have to say no to that frivolous spending.

[@davidwhite206]

💅 it!!

[@tiffanydenniston7900]

Soooooo true!!

[@kevinscanlan5288]

God bless you guys. Finally made it to Step 7. I’m excited about giving.

[@jsy3359]

Love what Dave says in the very end about the new “normal” being that everyone looks like they have everything but in reality they’re drowning in debt. My grandmother always used to say, “It’s the people who look like they have money who are usually broke. The ones that look like they’re hard up often have millions in the bank.” So true!

[@kokoskokso]

No one's wiser than the grandma!

[@georgewagner7787]

I worked with a guy who said that, the millionaires are the ones with the holey jeans.

[@nakho3550]

I definitely look broke and I don't correct anyone who thinks that I am broke because when i look at my assets, it screams that I'm broke. 😱

[@dancebrittany23]

I wish my dad would listen like this dad would! My dad is a dentist making 200k but in heaps of debt making dumb $ decisions.

[@dexterm1285]

Yikes...some people just like being normal with money.

[@yvetteshokere7818]

Show him this

[@ENCwwe]

This was an encouraging call! “Be not confirmed to this world but we transformed by the renewing of your mind.”

[@TheeMrsChampion]

Let’s go Brian! Get this done quick fast and in a hurry. We are rooting for you here in Pittsburgh 🖤💛

[@reneehenderson4818]

I was in this mans boat, and I get how scary it is to lessen your savings to pay off debt. It's a leap of faith for sure. All I have to offer is have the faith because there is NOTHING like paying off debt from a financial perspective. So easy to breathe now.

[@temmietaft2552]

I’m on baby step 1 & feel so positive about building my emergency fund. I have purpose!

[@ew2645]

It’s 100% worth it. The steps aren’t easy but so so so worth it!

[@yalvi]

“Living in the land of denial, I’m not talking about a river in Egypt.” 🤣🤣🤣 Dave’s got the best lines

[@worthy200]

It sacred me to face the reality, I pushed back, then I realized as Dave says ,insanity is doing the same thing over and over expecting new results.

[@IceColdProfessional]

This guy makes MORE than enough to knock out $40k. He just doesn't want to cut the subscriptions and restaurants.

[@rolandofrancis5254]

Rightttt

[@MCC1591]

I sometimes feel these people don't make as much as they say it's Ludacris the debt should be cake

[@wiggysshop9890]

A big part of that probably depends on how of expensive of house he lives in. He might have a million+ dollar mortgage that's eating up the majority of his income.

[@dabulls1g]

@@MCC1591 retirement is around age 65 on average, the caller said 12 more years to retirement so lets assume he’s around 53 years old. Also assuming his wife, at 53 years old, makes roughly what he makes then the combined annual income is very possibly 180-190k annually. Thats ~90-95k per person AT 53 is not unbelievable.

[@MCC1591]

@@dabulls1g no of course it's believable what isn't is how they can't pay the debt with that income

[@pbuckner46]

“Normal is looking good and broke,” you said a mouthful right there Dave.😊

[@joshuat770]

I'm so glad the caller was willing to listen

[@subjecttochrist]

that's awesome. this caller is wrangling it in: way to go! i remember doing the every dollar budget thinking to myself: I EAT MY PAYCHECK! ...too many restaurants/coffees.

[@georgewagner7787]

I have a friend who lives check to check ( some of it ssd) but buys coffee out. Then when she moved, she needed down payment from church and 100 bucks from me for electricity. I gave it bc I almost never do but meanwhile I make coffee at home from the can I got on sale at Dollar general

[@88happiness]

You know you've watched Dave alot when you know the answer to which baby step is the scariest without actually listening to the video.

[@paulstandaert5709]

I am probably about 12 years younger, earn less than half that he does, and I own my house and have no financial debts whatsoever and I inherited nothing. If I can do it, so can he. And I don't consider myself to be the brightest bulb on the tree.

[@RonnieColeman80]

You're good though, let me tell you.

[@stealz5000]

Well done, good for you.

[@sdm1568]

Want a cookie for it?

[@carojames6776]

You had the good sense to take care of business that will take care of you in the future and the best person to rely on in a situation like this is yourself. Enjoy your rewards.

[@FinancialFreedomMadeSimple]

Baby steps are great for people that are not amazing at self control ( which is most people ). So if they work for you - that's amazing ! They will definitely help you get out of debt

[@rangequeen]

I’m new back into Dave. Thankfully my dad gave me one of his books when I was 18. This just answered a questions I’ve been battling with so thank you!

[@realitycheck48]

Anyone notice the reported household income seems strangely high for a lot of these calls?

[@MrDANGitall]

Yeah. I noticed that years ago when some lady called in and says she makes $200K and is in debt, and can't think of what to do. I almost puked.

[@schnoodle3]

Because it makes for such an easy call to tell someone with loads to income to to "just pay it off". Doesn't work that way for most of us.

[@SimplyBlessedWithCleanliness]

It doesn’t matter what people make. The more we make the more we spend. The less we make the less we spend. It’s all about discipline. I am here because I have been on both sides and I need guidance.

[@davidolmos6335]

Household income could mean both him and his wife work. I am an engineer and my SO lives with me. Together, our household income is 240k but living in the LA area isn’t cheap

[@BusArch42]

@@davidolmos6335same we are at 490k (both engineers) and if we were not on an envelope budget we would be in the same situation as my coworkers

[@FrankS111]

I live in the south hills of PGH (highest taxed suburbs in the area) and I can tell you if he’s making $180k per year there is NO REASON he should have such little savings and debt. They have a huge spending issue.

[@flicks28]

Im in South Hills as well. I agree.

[@SensSword]

In Green Tree myself. Mortgage and property taxes for a 3 bedroom is just over $1000/mo. He's probably bringing home around $9000/mo. Something doesn't add up.

[@ksf9729]

I live in the south hills too. :)

[@alqoshgirl]

Yeah he makes too much to be this clueless. That much debt and only 11k saved up?

[@bbcobra04]

My favorite Dave comment is "big hat, no cattle"

[@jibrailraja1897]

I'm so happy the algorithm recommended me Dave Ramsey. My money principles are so in line with his baby steps. Many young people in my country are so against paying off the mortgage or buying a home in cash and keeps to the "that money is better off invested" line or argument. So what have you invested in? Mostly nothing. Because they're too scared they can't pay the mortgage if the investment goes south.

[@ynotyou3726]

Here’s where I deviate a bit. I’m getting that company match

[@georgewagner7787]

You are blessed. I made the mistake of working for non profits My life has helped people but I won't be able to help anyone financially once I retire...

[@THEGAMINGHELP101]

Why has Dave not updated the emergency fund from $1k? $1k today is like a few hundred dollars 20 years ago. Now days you need at least $2k in emergency fund to be worth anything.

[@beckygeer6480]

Because its not supposed to make you feel comfortable. It is supposed to make you run harder to get rid of the debt

[@dakotadumont8330]

Your battery in your Toyota Camry dies. You go down the road you get a nail in your tires and the tire needs to be replaced. These are example for the emergency fund.. The emergency fund isn't suppose to help you put a roof on your house. A sinking fund is for the roof. Most people know in x amount of months/years this roof needs to be replaced. That when you start saving money to cover the roof.

[@regularity2556]

@@pmc9194 Because it will be too hard for people to save more than 1000 dollars, it's a financial and metal hurdle

[@Jessica-tj6ug]

I don't think you need more than 1k unless you have children and maybe a spouse. Remember Dave says don't mess with the steps unless you have an underlying medical condition such as myself. The medical scare started in Oct. 2020, for me and I built it up in a matter of months. I don't forget God when it comes to my money either! Also, I paid my car off this month!! You can do it!! All I have are student loans and I'm nervous about that, but I'm staying the course!! We can do this!!

[@pawelwisniewski6849]

Because 1k is still more then people have for emergency

[@lmbarnes3]

When people don't understand the process, they dont understand and its shocking. He was shocked that he should be gazelle intense. He wants to live comfortably the same....

[@josh-cast]

Share this with someone today. It’s everything that needs to be said about personal finances.

[@DGYtown]

I miss the debt free scream. Can you please have some family’s on video telling their story. I miss that! Love you guys. God bless!

[@dknisle1]

Blows my mind how people can make so much money and be in debt with no idea what to do.

[@AnnMitt]

Sad that so many adults lack basic financial education

[@cherissef5297]

The one thing they didn't ask is how much is the mortgage and are there any car payments. . .

[@tylerhair9067]

Exactly. Dude probably has a million dollar home and driving around in a $70k Ford Super Duty. It’s all relative.

[@DoTheDomThing]

They make enough to not pull anything and just pay the debt off and still invest. You can scare yourself some but he doesn’t necessarily need to. To each it’s own.

[@jameslastname9171]

$180k. Dude is maintaining an expensive lifestyle if he is taking two years to deal with $40k debt

[@dabulls1g]

Thats hot even a quarter of his annual income. Maybe he’s spending a lot taking care of hospital bills for loved ones or something. Who knows

[@breezybre2670]

Or he lives in Canada.

[@doomshallot4203]

I don't like that he tells people to stop employer match. Even with high interest debt, employer match is 100% immediate returns. I wish he'd change the baby steps for that. Other than this one little detail, great advice overall. Thanks Dave!

[@salma_Nella22]

So right now, if I needed all the money I have to pay off my debt, you suggest that I keep investing in my 401k?

[@gabrielrodriguez8187]

@@salma_Nella22 yes kept the company match and use the rest for debt

[@John-ru4gz]

Dave is an out of touch boomer

[@salma_Nella22]

Oh wait… so you’re suggesting that I withdraw some money from the 401k (the match) and pay debt with it? Oh that sounds scary lol

[@DaveW74TVN]

The interest your debt accrues per month probably FAR outweighs that employer match. Saving $1 with your left hand while setting $5 on fire with your right makes no sense.

[@merakimemories]

totally right it did scare me too when I first listened to Dave's advice, but doing that made me be able to get out of $10,000 of credit card debt in 7 months! When I was only able to make $2,180 a month. I'm so thankful I found his channel when I was that deep.

[@jackadams8299]

180-190K salary. 12K in savings. Bruh lol

[@InBobWeTrust]

Lifestyle creep is real.

[@CrazyLarry23]

Innit, wtf?! Phones up to ask how to pay off 66k of debt with 180k income. Beggars belief.

[@MaddaxxxE]

Sometimes the income is so good that you forget that you won’t be making it one day. I want to live better in retirement than while I’m working. It feels good to know that I can afford a $50k car but I don’t really need it right now and don’t give a damn if anyone else does. lol

[@hornmanxx1778]

@MaddaxxxE exactly right. I was 20 working 2 jobs making about 70k/y but getting approved for credit cards left and right to the point my checks were all just paying something fast foward got nothing but experience to show for it

[@lkj0822g]

This guy is not drowning in debt, he is not underwater. He has a great income and can knock this debt out easily. There is absolutely no reason to forego the company match on his 401k and give up a 50-100% return on his money. B-b-b-b-but Lee, these are the Ramsey "baby steps", a proven formula to get debt free. Yes, and if this guy were drowning in debt and couldn't make minimum payments and couldn't put food on the table, I would agree to stop the 401k. Your 401k AND home are the two biggest components of the "everyday millionaire". Put that compounding to work FOR you.

[@chequethiasallie8976]

Those were my thoughts exactly.

[@TheMopar97]

I agree.. him and his wife are living wayyyyy above their means if they’re making that much.

[@ghjong001]

Reading between the lines, somebody with $180k in come talking about paying off $50k in debt over TWO YEARS is someone without a budget or a real plan. He's inspired, but he's also new to really thinking seriously about his finances. The big issue is he needs to get his monthly finances in order first, and then it becomes a moot point.

[@IceColdProfessional]

He just doesn't want to cut the ESPN subscription and the restaurant dinners.

[@brad885]

The problem is he will get done with this and finance a boat if he doesn't feel the pain in the 401k. It's not about the match. It's psychological. Staying out of debt is psychological.

[@Marylinn1987]

Whoever you are I hope you are free and thriving today 💚 GOD bless

[@Carla-hl3fm]

I wonder what his house is? Cause with that income, he can SURELY do it in 6-7 months.

[@Iburn247]

I'm thinking about selling my house in Massachusetts and moving to a lower cost state where I can buy a small house outright that would eliminate $1,800 a month and mortgage payments. I'm wondering if I should and just hold tight until we see where all this money printing and inflation leads us

[@suzannemiller993]

Personally, I'd keep $5000 in the short term emergency fund. And 6-9 months of income in savings. Cars break down; household appliances die; pets need vet care; there are co-pays and deductibles for health insurance.

[@bnnyrabbit]

Yes, I agree

[@Dominicano809]

Baffles me how people with high income drown in a glass of water. You can"t live on 50k a year making 180k a year?? wow.

[@dexterm1285]

Bingo...how me and wife have done so well. We make a good income and live while being debt free very well on about $40k to $50k a year.

[@Nolan.Gurule]

I know right? I’ve lived off of 20k a year one time and still was able to save 😆

[@eddieblake097]

Dave almost chuckled when the caller mentioned his household income.

[@leadershiphelpdesk510]

Think of it like camping, roughing it can be fun!

[@yoddy0]

I really hope the guy follows through with the advice. He will be very glad he did and then be free to actually live life on his terms.

[@salindahettiarachchi9892]

I love this show. It changed me completely ❤

[@patricks607]

Making 200k and nothing to show for it. Goes to show you that it’s not always about how much money you make. That said, props to you for making these correct changes in your life.

[@Whoiskevinjones]

No doubt he's got toys and likely a vehicle to sell.

[@idemurphy4325]

Classic, your student loan is around so long, you think it's a pet - love this guy's humour as much as his common sense

[@SKBottom]

Gazelle-like intensity. I've always loved that.

[@mrstinky2421]

Missing a 401k match is idiotic. Say it's 3-5% at a garunteed 100% return. This guy can meet his goals much faster taking the match. Hopefully he reads these comments.

[@duckpwnd]

I agree. And the 401k match is part of your compensation. If you don't take advantage of it that's like voluntarily taking a pay cut.

[@roman7954]

Absolutely.

[@davidolmos6335]

My 401k match is 10%

[@Jelly._.cat._.1]

I’m just curious, what does it feel like to buy a pizza or go to a restaurant when you’re in consumer debt? Not trying to be an as* hole, but I see this all the time and it just boggles my mind

[@perotal]

or you can just mind your own business and let adults do whatever they want with their lives.

[@Jelly._.cat._.1]

@@perotal that’s what I do. Just “boggles” my mind that people don’t care that they r in debt. Boggles vs. asking point blank to a persons face is different

[@duckpwnd]

A mortgage is consumer debt. So you would find it mind boggling that I might order a pizza before my mortgage is paid off?

[@AnimatedIdiotGuide]

@@duckpwndI would, actually. Pay the house off first. Gazelle and all that

[@Bob_Diesel]

I much more enjoy these calls from genuine good ole boys who want to turn their lives around than some snoody suburbanite who calls to justify their Lexus and new house to Dave and gets mad when he rips them a new one

[@anniealexander9616]

He makes $180k and $66k in debt. He is the rich snooty suburbanite.

[@georgewagner7787]

He should learn to cook

[@elizabethwolf4049]

Go Brian you got this! It's going to be hard but it's worth it.

[@bovnycccoperalover3579]

Why doesn't Dave ask where the money goes!

[@Nolan.Gurule]

Bc the guy knows

[@deborahblessed8541]

🤣🤣🤣

[@geng8667]

That’s nobody’s business.😁 Dave’s just here to suggest what he needs to do now if he’s serious about getting out of debt.

[@rosec8101]

He can do this in 3-5 months. Can you imagine the change in this family in 30-40 years. It all started with a son who was raised right having a conversation with his dad. They will talk about how this changed they legacy. The future is bright.

[@FourWheelFinance]

You can tell this guy is an insanely good role model

[@Jewelbunny411]

If you are making that much paying off the debt should be done right away. He can definitely do that…

[@Revert2017]

The caller is right. The journey is emotional.

[@MillionaireMindsetClub]

I actually paid off my debt and invested at the same time. Ramsey wouldn't be too happy with me.

[@izgil7541]

Probably because you're making a lot (or had a small debt).

[@bangladeshirealtor]

@@saulgoodman2018 just curious why you watch all his videos when you don’t agree with his philosophy lol?

[@duckpwnd]

I don't agree with everything Dave says. I watch him becasue he's entertaining. Also, if you want to make more money and keep the money you make... better call Saul.

[@bangladeshirealtor]

@@duckpwnd yea but this dude is always on the comments griping about some guy he doesn’t know lol might be better for his mental to channel that elsewhere

[@bangladeshirealtor]

@@saulgoodman2018 lol thx captain obvious but that wasn’t what i was saying . you are always commenting on his videos with an opposing viewpoint . you’d be better off doing your own channel than helping monetize on someone else’s with views and engagement if you have that much time to mess around on social media . It seems to me you don’t agree with his viewpoint on personal finance at all , so why give him your valuable time by engaging constantly on his content ? lol

[@toddaustin2198]

Preach, Mr. Dave!!!

[@myroslavmot]

Thank you Dave

[@JTDyer21]

I'm still baffled why so many people are so clueless about money. Most of Dave's callers have the income but have absolutely no clue at all about how to manage money. I don't get it.

[@KElmerTinkersAcademy]

Because we are not taught how to manage money unless you have a very astute parent, and you certainly won't learn it in school. There are exceptions, but generally speaking, when a young person finishes high school or college, they still don't have a clue about the two most important things they need to succeed in life. One is managing their finances and the other is managing their relationships. Its is unbelievable how messed up the system is to allow this to occur and we can certainly see the results all around us.

[@Love-like-Lucy]

I’m debt free besides my mortgage but would like to start the baby steps to see exactly how far behind I am.

[@arfriedman4577]

See if the library has his book

[@kingworthy935]

Thank you for the detail.

[@themailman8038]

The Total Makeover is one of the most amazing books I have ever read.

[@tamarakuhn1634]

I do hope the caller actually does this. 🙏

[@willelliott5052]

I can relate. I was his age when I happened to tune in to Ramsey one day, and shortly thereafter began to get our house in order. My oldest daughter had told me about Ramsey one or two years earlier, but at that time, unlike this guy, I was somewhat pridefully dismissive of her advice. It is hard to admit that your net worth is pathetic, in contrast to the image that you present. But doing so is good for your financial future and also good for your humility.

[@toddbreitenstein8522]

I always felt that the minimum emergency fund should be the most expensive repair that could pop up with the house. Furnace, roof, ac…whatever. After that, attack debt!

[@beckygeer6480]

No. Those are anticipate expected home repairs for Sinking Funds

[@alanhodgson7857]

The most expensive I can think of is the 10% deductible on my earthquake coverage. Anything else is pocket change in comparison.

[@MakerBees333]

They never got to the most interesting part of this problem *15k a month* in income, what is he spending it on and accruing so much debt? Then what is it that is costing him so much a month he can’t afford to live on 10k a month… It could be perfectly reasonable, but I want to know.🧐

[@MrCoxmic]

most people do not know how to live within their means or actually want to do it because then they cannot appear to be rich to their neighbors, friends, and family

[@MakerBees333]

@@MrCoxmic Absolutely. I still want to know what they are justifying as “Rich Camouflage”.

[@martinsl1979]

It’s household income, not only his income.

[@georgewagner7787]

Doesn't matter if it's household income

[@sironeil-personalfinancere9367]

An emergency fund is a must! No questions asked!!!!

[@k-mart7475]

AFTER you pay off your debt.

[@denisewenke8323]

@@k-mart7475 A small one before, to keep you from going into more debt when something goes wrong

[@zhannamatviychuk]

Listening to Dave enough to see him with his crossed arms staring at me and whispering “You can’t afford that” at the store 😂❤

[@ChachiTelevision1979]

Heck yeah, Brian

[@michaeljohnston950]

👍🏻 agreed that’s a real man!

[@GettingItDoneRepairs]

Great episode

[@lulustoovintage4710]

Love this discussion!

[@johnroark9568]

I got so excited at first because I'm in the same boat. But then I could barely hear anything after 180k a year. I have an investment doing 16 percent right now but that would also currently take care of half my debt. Kicker is my gross is 40k so that's beyond terrifying.

[@codingispower1816]

When first paying a debt off and it lowers your savings it feels like you will be there forever in that moment...which is why it's so scary.

[@davis5574]

So let’s say I attack my lowest form of debt which is my credit card. Do I just stop using my credit card till I’ve paid off other debts and completed step 3? I want my credit to grow and seems like not using the credit card will bring that to a hault

[@JoATTech]

Ok. This made me pay all my debt in 1 step. It was not huge ($3k), but I paid it selling some assets I got. So I'm already on step 4/5/6 ... I got "collage" fund for kids going from their birth (11 and 8 yo). Not much for my retirement, but overpaying my mortgage ~$2k a month. It still have $50k left. I'm 48yo this year and unfortunately there is 0 - ZERO - financial education in my country. And ... our retirement "packages" / options ... sucks. The only option here is stock/gold/ETFs/bonds. But they are still taxed at 19% even when you retired (It's Poland).

[@Tehui1974]

I like this caller. I hope he's debt free now and is now building up his wealth.

[@lindadorman2869]

The bigger issue is how someone who makes $180-$190/yr. has $66k in debt, not including mortgage. They need to figure out how to stay out of debt and really change their approach going forward!

[@alqoshgirl]

I know! That’s shocking to me too. And only 11k saved up. And he’s older too…

[@donjohnson1416]

Same way someone making $80k is $35k in debt or someone making $50k is $22k in debt. You think just cause people make a lot of money they should know how to use it? lol. What are you 12?

[@ImVeryBrad]

Seems like a solid dude

[@mescnick]

Thanks Dave

[@yearlymandonothack]

180 to 190.... Holy cow this dude has a lot of earned income

[@toddprater14]

No shit!” If he has a decent mortgage payment like 1000-1500 a month and not some crazy ass 3000 mortgage payment …he’s good real good,,,I’d have a badass vette in the garage a ok mortgage of 1000-1500 and STILL be banking serious cash…I can’t understand how people of this level of income are broke….wow..are they going on vacation 6 times a year? And have 3 car payments?

[@ChilledOut]

I would love an update now that it’s been two years since this call 🙌🏽

[@thetruthis1526]

The Hellman(n)s commercial at the beginning, “ turn a little nothing into something” That little commercial started well before all the shortages. Just Saying. (“jingle”)

[@fragile00]

"Living in the land of denial and I’m not talking about a river in Egypt" 😂😂😂😂😂

[@anthonyn.3575]

$180k/ year and can’t seriously pay off $40k in debt in less than a year at least, REALLY ?!??

[@brucerowe2895]

Anthony N and he could still keep his stock, and keep his match in his 401, he can change his habits, and I have to admire Dave Ramsey sticking to guns about, stopping everything to pay off debt, and he can do more on the 401 and other savings after the debt is paid off.

[@toddprater14]

Dude prolly had a 3000 a month mortgage 1500 a month in a car for him and his wife. Etc…that’s almost 5000 a month right there ..

[@Vision3434]

Agree with Dave only thing is I think u need at least 5k for emergency fund, that’s just me

[@Klatubarada1979]

These numbers gotta change at some point, or use percentages. This 1000-dollar baby step 1 has been here since 1995. That's less than half the purchasing power today.

[@Je.rone_]

That fella is in PA, i was born in PA, hello neighbor!!