5 Things That Will Cause You To Win With Money
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- เผยแพร่เมื่อ 21 ก.ย. 2024
- 5 Things That Will Cause You To Win With Money
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1. Have a budget
2. Get out of debt
3. Live on less than you make
4. Save money for investing
5. Be outrageously generous
Thank you
You will have so much money once you get out of debt its crazy.
What Dave never points out is the biggest struggle to financial retirement which is Social Security. Specifically how the average American contributes about $272K over a 50 year career which at a modest 5% compound interest would net $1.2 million. This is a $60K per year / $5K per month payout of interest alone. The principle would never be touched to draw this income and that principle could be rolled over to the next generation who could receive payments without any contributions. Ask yourself why doesn't an obviously intelligent man like Dave never point this out?
@@vibesaddickentertainment9777 trump n rich dad Robert kiyisaki made money on debts
@@bubbajones4522
Because he is trying to teach people how to make decisions which help them become debt free, then financially independent with savings for investing. He also wishes we all stay away from any dependences from any government.
Hope this helps 😊
As soon as I got out of debt I felt independently wealthy all of a sudden
It's peaceful not having any..
And also add, if people can, pay extra on your bills. So you can be in credit when and If times get hard.
I'm am over paying extra just in case I am short or don't have the money..unfortunately something always breaks or needs replacing when you least need it too. Sods Law.
It's a mindset. I never had a budget. I just made sure I paid my bills and put money away. I felt like a squirrel. Any extra money I put in the bank. Always had IRA's and some money in the stock market. As I retired I didn't want any risk I put everything in bonds and CDs. I still have the same IRA CDs from many years ago still in the bank. I always call for the best rates. They give me the best rates because I am a preferred customer. I deal with three Banks. I have jumbo CDs that are making 5 and 1/2 percent. I paid cash for my house I paid cash for my cars. I owned two houses outright and sold one. I have not touched a dollar from the sale of my other house. It is all in the bank making money. It's a mindset. I was poor as a child saw rhe struggles and didn't want to be poor.
Sooooo…. what do you plan to do with all this unspent money?
He’s right about the generosity thing. Imagine you can just do things for people and change their lives
Not lazy people .
A true blessing.,., when you can be a blessing!!!
The most straight forward money saving advise ever 🙏🏽
The most difficult step is the first one. You have to do more than just writing a budget. You have to follow it!!
Ohhh Dave
1...check
2...check
3.. check
4...Check
5...Check
I am doing all the above. I'm starting a bit late in the game at 47..BUT going in the right Direction 😊
Yes, those couples who both have generous pensions, still go to dinner on coupons.
Live on less than you make is GODMODE KEY!!!
I’ve never seen this but it’s 100% true I drive a 10 year old car paid off so I save 339.76 a month invest that into Voo just bought my 1st house 🏡 only debt I have is a mortgage
I agree. I respect Dave and his advice is wonderful. A lot of these so called millionaires on you tube will tell you that you can use debt and loans to earn money on debt😢are giving horrible advice. Dave is correct and cares about the average person
Well said...save money !!
What Ben Franklin said. Make more than you spend and invest the difference wisely
Like all things in life, we humans tend to overcomplicate things.
But it's always the simple things that bring peace and clarity...just like this advice.
Thanks Dave and all the team👍
These are straight facts. Thanks for keeping everything real and remaining grounded brother.
1. Have a budget written
2. Get out of DeBt!
3. Live on less than you make
4. Save money
5. Give outrageously generously 😊 because you CAN!
Get out of DAht
I'm working in the direction of Being Dept Free by the end of this year
How did it go??
It went just as I had planned it...perfect
@@robertsalyers1351 that is a great end of the year. Congrats!
Once again, thank you for this dave. being brilliant at the basics is everything!
For 99% of us, this is the best most obvious and simplest financial advice .
You've got it figured out !!!! Great message !!!!
Am i the only one who LOVES his mic?!?...damn the audio is as sharp as a japanese sword in my airpods!
1. Done that
2. No debts here
3. I'm leftover with about 10% of my net income at the end of the month. My partner still studies, so her income is low. When she is done, we'll have plenty to save & invest!
4. 80% of my savings is on an account against 4% interest, 20% is in crypto. Total is only like €20k, but I'm 27 and finished uni 2,5 years ago ._.
5. Haven't reached this stage yet lmao
6 years later with your plan (and adding risk because I’m a gambler) I now have 400 big ones in my 20s. Thank you Dave THANK YOU!!!!
what you gamble
Wow 400 bucks in your 20s
@@Jigen32😂
Rich people do not get rich by saving. They continually seek out opportunities to make more money and they often use debt to finance those opportunities.
My budget is putting $2,000 into savings account from my money market account.
I pay off my credit card and get ATM cash from my savings account.
I put my income in the mm account.
I move cash from savings into checking account as needed.
I don't spend over the $2k.
Repeat every month.
I move cash from mm account into non-IRA long-term ETFs.
100% agree w the last point
If you listen to Dave Ramsey and do what he says, you will transform your life. I did not graduate college, but by the grace of God in my thirties I was able to get a career going and work my way out of poverty. I never wanted to be poor again, and I saved all I could and bought a modest home. I married a woman who was like me, and together we worked, lived our lives, and built a family. As our income slowly grew we saved and invested all we could. We didn’t know about Dave Ramsey, but we budgeted, lived on less than we earned, saved and invested, and gave generously to our church. God was overwhelmingly generous to us and our children. Today we are well off, debt free, and our kids have good careers. We are grateful to God for what he has done for us and our kids.
Dave sounds like a preacher yelling gods words. I love it hahaha
I think my grandma taught me the same thing. Wisdom.
Absolutely Correct!
Absolutely!!
I am a muslim and I believe in these principles
I just HATE how prices increased tremendously when I started making “good” money 😫. I feel like what I make should be enough, but it isn’t due to inflation. Now yet again I have to hunt for a better paying job. I feel like once I get that, prices are going to shoot up again. This is mentally exhausting 😫.
Might a good idea to follow that written plan.
44 years old and playing catch up. Decided to live in my car while making 70k+ annually. Only buying what I need!!
Preach, Dave! 👍🏼
AMEN TO THAT.
Debt is non taxable in real estate a key to building wealth but not over leveraging yourself when the market goes south is the key. If I improve a property why would I sell it instead of refinancing it and paying 0 dollars in taxes
I wish Dave would share the Gospel more. With his platform he could do so much. 1st Corinthians 15 1-4 and Romans 3 25 please find faith in his finished work on the cross his blood being enough to cover our sins 🙏
Love this guys so much. Truth
Love this@7:00❤ 🙏
Imagine spending your whole life fine tunning your money habits just to give it away generously!
He isn't saying give it ALL away.
I give 10% tithe to my church, AND I also give extra for charities.
It is the MOST satisfying thing I've ever done with my money.
When you keep all your money to yourself, only one person benefits, YOU.
When you give to another, two people benefit.
You and them.
Your income is NOT your most powerful tool wealth building tool. Its investing in the RIGHT assets
You missed it.
On step 4 now as a 26 year old and I’m really excited to see where being debt free will take me by 36 and 46
Not so sure about no 2 though ?!!! Because getting big debt at low interest to buy assets eg a rental property …. the rental property puts income in your pocket if the rent i etc is less than the interest/ repayments /overheads. And over time can be a good strategy I think ….since it’s a way of affording to buy an asset!!!! Otherwise no debt may equal no ( large ) asset. The strategy can be repeated many times. And never sell the asset /s
Don't just save money, get assets and invest
If you dont have money, you cant invest. So the first step is to save money :)
Dave's message is intended for the average person. It often makes more sense to own your home with a mortgage rather than pay rent. Therefore it's important to find out how to afford your own home and have a written plan to reach that goal.
God bless this men!
Hi Dave and Daves Ramsey comments section.. For IF And When U can.
Pay extra on your bills like Mortgages ( bi weekly ) or any other bills.
Yes I did, now I save some money, I’m ready to invest, but still need advice directions?
Save money to just give it away. I think I understand now.
I have some money saved. I live for today tomorrow as I promised, I want to live my life to the fullest.🙏♥️🙏😊
Does it mean you’re in debt? 😅
Thank you!
Thank you so much .
Wisdom! Facts!
You know what helped me a lot was quicken because you can just see your money go up. It was really working good until Obamacare came in and then Covid
"get out of debt" I'll see you all in 30 years
Most adults are working for minimum wage in a country that refuses to pay its workers a living wage. You can't save what you don't get. And I don't want to hear "just go get a better job" because a lot of people can't just go get a better job. A lot of people are stuck where they are. And most of the rich people in this country didn't come from a poor background.
If there’s a will, there’s a way. Rice and beans. Baby steps.
Thank you, I was coming to say the same thing. If you make $17 an hour, it doesn't matter how much you save, you still make $17 an hour when gas is + $4 a gallon.
Boo hoo hoo. It's usually bad discussions
If you are making minimum wage you aren’t making living wage…. Two different words…..
Minimum wage is for children…..
My first job I made $1 per hour. Bought my first new car making less than $3 per hour. Paid it off in 11 months. First home at 19. Second at 21. Now comfortably retired. If a poor slob like me can do it, anyone can! Apply the principles. It works for EVERYONE!
This is great for those just trying to be stable however there is a reason why the richest people in the world also carry a MASSIVE amount of debt. You absolutely can and should leverage debt into cash flowing assets. Not to mention if you get to a certain level start taking debt out against those assets and spending that debt. That will help reduce your taxes.
Paying interest and fees to banks is outrageously generous. Checkmate.
He has good principles here, but I totally disagree with his second point. I don't think your most powerful wealth building tool is your income. It's you. Invest in yourself. Invest in how to expand your means. Get in shape, create more value for others wherever you go.
Joined FPU and paid off 7 grand Thai year.
Rich people don’t get rich by saving money, they get rich by investing money and owning businesses that leverage peoples time for profits per hour! Period!
But they have to 'save' first... in order to have leftover money for investments.
You need money to invest. They can’t do it being broke 🤔
You sound like someone in debt and justifying it by using the word “leveraging” 😂.
These people can't comprehend that Dave made his money, literally, by selling his advice and NOT by saving. He himself has told his own story, just put it together.
Your last sentence doesn't make sense. Of course someone has to have money 'coming in'.... in order to have money to save and invest. Not sure what your point is.@@Adones09
The problem is most people have no knowledge of investing AND do not know who to trust to guide them because most are just skum wanting to cheat you ouut of your money.
Investing best option side hustles
Frank and to the point even if it hurts.
Amen 🙏
It's not often that your wise words filter their way through to the youthful minds of the NOW generation who just wanna rock n roll, drink, smoke weed, get laid and party like there's no tomorrow. Debt free is where I am right now. Spending less than I make will always be my monthly challenge.
man of wisdom
All you need to do is number 3
Took your advice now im on 100 000 debt pay up
Clearly you weren’t always taking that advice or you wouldn’t be in debt
Exactly.
Theres an inverse relationship between the amount of money made and the ease to make it. IN other words, its easier to make larger amounts of money than small.
Making a plan.
Facts
Just pay off debt and dca every day into a solid etf after your roth is maxed.. its so easy
💯% correct
I love Dave .
No 2. Get out of debt is 90 percent you will win over money...
It is unreal how different knowing to do these things and doing these things actually are.....also super infuriating when you KNOW to do this and still get sucked into stupidity because Life Happens.
Working on getting out of debt now using the principles again, smdh......
Im on track! 🎉
Facts!
Hit the treadmill sir.
Yes
I’ll be out of debt in two years and retiring in four.
He’s absolutely right about this but what do you do when even the most basic of necessities is more than your means lol. Whoops I guess I’ll be homeless cause my basic necessities cost as much as my net income
#2 isnt necessarily the right move. If you have a mortgage with a low interest rate, you're better off investing your money and not put any extra towards your mortgage.
Where do I go once I got these things in order. I got a budget, I'm out of debt and have no credit cards. I'm living on 50% of my income. I got a tidy sum saved but it's only earning 4.35% how do I get it earning more I know jack crap about the stock market and understand less the more I learn how to I invest it to earn more than the term deposit accounts banks offer?
?
..mmm, I agree with what he's saying here, but how can you say that, but not support the philosophy behind crypto?
And can we also say you have to have a job that actually pays you good money for that!!! Especially with inflation!!
I love this advice so much its so true Amen 🙏 🙏 🙏
Amen
I don't agree with the debt free bit. But the everything else is solid. I have debts at the moment at 3% interest. I have balances in savings accounts with 6% interests that could pay off the debt...but why would I. I also have money in investments making 7-8% at the moment....
Whats in the plan??
Easy to say, hard to do if you make 20 bucks an hour
Before pay cash now only borrow. Fork tongue
Learn to live off two weeks of your monthly income.
All correct except for the investment part, there's only one way to invest, it sure isn't from no stock broker or money marketer or some bullshit like that. They're just a bunch of thieves unless of course you find one that can guarantee you a return, good luck with that.
True
1- have written plan ✔️👏
2- Get out of debt ⏳work in progress
3- live on less than you make -🥰 we’re getting there
4- save money 🥹 pending…
5- be outrageously generous💕yess one day🙏
This comes off as common sense. But why are so many maxing out credit cards and paying monthly minimums for fast food and junk???
I avoid getting close to people with bad finances. It's gross.