Dave Ramsey Has Just Four Words for You in 2015

Dave Ramsey

Dave Ramsey is the seventh finalist featured in GOBankingRates’ 2014 “Best Personal Finance Expert” competition. Each day, readers will have the opportunity to vote for their favorite of 12 nominees, selected from the biggest names in finance by GOBankingRates’ staff and editors at top media outlets. Voting for the 2014 contest is closed, but you can vote for Dave as your favorite personal finance expert of 2015.

As a best-selling author, entrepreneur and host of his own popular radio show, Dave Ramsey has built a huge following with a simple yet holistic approach to financial success. And, much like the personality that has endeared him to millions of fans, Ramsey’s financial advice for Americans in 2015 is to the point — just four words, actually.

Americans owe about $11.7 trillion in debt — and Ramsey believes they’ll never have financial freedom until they climb out of it. But how do consumers start to dig themselves out of what can seem like an almost bottomless hole?

See the other finalists Dave Ramsey is up against here>>

Part of what’s made Ramsey a household name in personal finance is an ability to make complicated financial principles accessible and actionable. The frequent speaker often ties in personal references to his own riches-to-rags-to-riches story (Ramsey grew his real estate portfolio to $4 million by 26 and lost it by 30 — all before he became a personal finance powerhouse).

It’s an approach that works. Ramsey’s written four New York Times best-sellers that address the emotional and spiritual sides of money management, including “The Total Money Makeover” and “Financial Peace,” selling a combined 7 million copies. His nationally syndicated radio program, “The Dave Ramsey Show,” reaches 8 million listeners weekly and is run on more than 550 affiliates. What’s more, the Ramsey dynasty is growing; his daughter, Rachel Cruze, is a financial educator, speaker and author who recently co-wrote another best-seller with Ramsey called “Smart Money Smart Kids.”

Ramsey also offers a range of personal finance resources and educational tools, including Financial Peace University, a nine-week program that has been attended by more than 2 million families at workplaces, churches, military bases and nonprofit organizations across the nation. (He’s even got a boardgame: “Act Your Wage!”.)

Dave Ramsey’s No. 1 Tip for Financial Success in 2015

So where does Dave Ramsey think is the No. 1 thing you should do in 2015? His advice is simple:

“Get out of debt.”

Ramsey points to his “7 Baby Steps” as model almost anyone can use to get out of debt and achieve financial success. In fact, the first three steps all share the primary purpose of getting and keeping you out of debt:

  1. Save up a $1,000 emergency fund.
  2. Use the “debt snowball” strategy to attack your debts, smallest to biggest.
  3. Expand your emergency fund to cover three to six months of expenses.

Ramsey’s firsthand knowledge of how to overcome debt and form new, healthy habits came about the hard way — and he offers it happily to his readers along with an action plan for getting back in control of their finances.

See Ramsey explain the “debt snowball” method in this video.

  • Thomas Delancy

    He stands to his conviction. I honestly would’ve been very upset if he said something different, like invest your money. This is timeless advice.

  • Pete

    You really can’t disagree with this advice. Risk in debt is far more taxing than the rewards of investment. There is nothing more free than being DEBT FREE!!!!

  • gates of vienna

    Not much help for young stuck with junk debt from “education” loans. No, not the psych and English majors who barely made it thru and charged non-educational items. It’s the STEM students who got scared off from grad school bec their huge debt from undergrad years was scary. And many of them can’t get jobs unless they want to work for the government.

    These kids were sold a mess of pottage by a corrupt arrangement between Big Govt, Big Banks & Big Edu. Thanks to these crooks, the kids’ll be paupers thru their 30s. They drive old cars, live on the edge, try to save enough rainy day money to survive sudden job losses in this grey economic climate. But “get out of debt”?? What an insult.

    And THAT is why the American birth rate among non-minorities is spiraling downward.

    • JB

      Who made them take on the debt?

      • chukarooster

        Most people take on debt by their own will and volition.
        When my daughter graduated, she had no debt, and she paid her tuition herself- by working. What a novel approach!

    • NorthlanderLJ

      Read his books. They work!

    • Bill

      Not much help? There is no better help than telling them to take responsibility for their own lives.

      Would you prefer that somebody bail them out of the mess THEY created of their own volition. thus further reinforcing their toxic idea that they can have it all NOW, with no consequences?

      Your kind of “thinking” is very much what is wrong with America.

      • gates of vienna

        My son didn’t make a “mess”, nor is my thinking “What is wrong with America”. Simplistic judgements.

        I have listened to Mr. Ramsey but only for the stories. We certainly didn’t need the advice since we *always* lived within our means and never had any debt. We don’t have a cell phone, a TV, an XBox (or whatever they are). We buy our clothes at Good Will and since my husband lost his job we no longer take our one week vacations in the Outer Banks.

        Our car is 15 years old and runs fine. But I do know if I get sick again, we’re in big trouble, despite our modest savings.

        We saved for a state school tuition for our son’s education and he had a job during those years; the remainder was small until he was advised by the school to go to grad school. Then he was promised grad school work if he applied, and was told the work would pay for the tuition. It didn’t. The “adviser” was kicked upstairs for his lies. He was also told there were in-state jobs in his field. Nope.

        My son trusted the adults in charge and they lied and he’s got the bill to pay. Fortunately, he was raised without a lot of consumer goods so he doesn’t miss them. He would just like to make a living wage so he could marry and have children. Not likely.

        He is VERY frugal – wants this college paid off by age 40, if he can. But with illness – complications from Swine Flu – and not knowing that proprietary hospitals are run for profit, it took him 3 years to pay off an emergency room visit, and set his Sallie Mae repayments back a bit.

        MANY young people in the early part of the century didn’t know the bottom was going to drop out of the job market. I am surprised you folks are so judgmental. I don’t think Dave Ramsey would be. As I said, his advice doesn’t apply to me, but I still like his work.

        • calhar

          Sorry about your son,i know the feeling.But our economy has always had it’s ups and downs.I grew up during the depression of the 30’s.Today is no different. We still have the haves and the have not’s.What I have learned nobody is going to give you anything.We are born into this world naked and we are going to die naked,and what you get in between you take off of somebody else. Its root hog or die.

          • gates of vienna

            Yep. His grandfather grew up during the depression and couldn’t go to college. Unfortunately or not, our son graduated the year THIS depression hit…he doesn’t want to be given anything; he’d like the chance to compete for a job.

            Funny you mention “root hog or die”. He’s considering starting a truck farm for selling local produce.People are tired of being poisoned by big Agra.

        • Randal Colling

          Many youth would be better off getting a trade or trade school. There is always work in the trades. You get little or no school debt. You never see an electrician working as a waiter or other menial jobs.

    • calhar

      Goly how do you expect the learned professor to get rich if you don’t pay higher prices for higher education,which some dummies need,and only makes educated morons out of some.

      • gates of vienna

        In the field my son was interested in – Chemistry – you need an education. He’d memorized the Periodic Table by the time he was ten and could explain to me why it was arranged that way. So, stupid parents that we were, we encouraged his interests in science.

        He’s hardly a dummy, given that he began college while still in high school.

        He learned to read music, plays several instruments, was an Eagle Scout, never went near drugs, and played the organ for our church from the age of eleven or so – for which the congregation was grateful considering how we sounded a Capella.

        His only mistake, I think, was choosing to live in a rural area because he didn’t want to be too far from us in case we needed his help as we are getting older. That limited his job choices, but he’s always been stubborn about doing the right thing…

        Commenter oldwhiteguy has it right…

  • 1pissedpatriot

    Read “Financial Peace” in 1998…..took me two year to clear all debt, including our mortgage……debt free since, and I pay ZERO interest.

  • Clif

    I earn a modest income, yet I’ve lived a debt free lifestyle for decades. I never heard of Mr. Ramsey until recently. I am still baffled, because it seems as though most people still don’t know this stuff. I like Dave Ramsey, but that he is so popular, illustrates the financial ignorance (or lack of common sense) of far too many Americans.

    • Considering this was never discussed in school (at least the ones I went to), I wouldn’t say its common sense. I started the babysteps 3 months ago. I can already see a drastic change in the way I spend money.

      • Dlem

        I don’t think Cliff is implying our schools failed us. Personal finance lessons should come from parents, early and often.

        • Both of my parents died young and broke. I was never taught how to handle my money through school or my parents. I can’t be the only one. I’m 31 and just started getting a grasp on my money.

          • Dlem

            I’m sorry for your loss. I don’t think you are alone in not having been taught, in fact I’d bet that in the last 20 years fewer and fewer parents teach their children responsible financial stewardship(especially by example).

      • Toast Points

        Schools coast to coast do a horrible job of not teaching kids what they need to learn, all the while boring them with a lot of nonsense.

  • Paul Schupbach

    Love his advice, listen to parts of his show almost every night but….. he charges rock star prices for his program and I wonder what his financial agreements are for his preferred providers ? He is either a saint or the worlds biggest con man or a little of both !

    • NorthlanderLJ

      If you read his books, you know.


      The initial program materials seem pricey, but you just have to buy the starter box one time, and then you can take the class as many times as you like, I have taken the initial class, and have attended two additional sessions at no cost. Definitely worth it! Love the process, and we are extremely close to being DEBT FREE!

      • Paul Schupbach

        You guys are making my point for me , its all about making Dave more money which there is nothing wrong with that but if I worked for him I would be a little uncomfortable about selling something he got for free from HIS pastor and the financial arrangements with the preferred providers. Even that’s OK but his clients are people that are in financial need and he charges rock star money for his services

  • MiMiPLR

    I always tell people the way to become rich is “SPEND LESS THAN YOU MAKE!” When that becomes your ‘game of life,’ you soon find yourself debt-free, too.

  • NorthlanderLJ

    I love this guy!

  • CompJerry

    Dave Ramsey gives great, simple advice that will work for most people.I have listened to for years. I am on Baby Step 7. You can learn from him all you need to know for free by listening to his radio program. His seminars, books & other items are for people who need hand-holding through the process.

  • 7cedars

    Found out about Dave Ramsey when he had his show on Fox, many years ago…not only are we almost debt free, but so is the rest of our family “who listened”. Dave’s got the cure for financing, budgeting, and NO DEBT!

    I HIGHLY recommend him!

    • calhar

      I found out all that he knows on my own>>>>>

  • oldwhiteguy

    I love these guys who make a lot of money telling people to “get out of debt.” In other words, don’t buy that car or that next six pack. But here’s the thing. According to a report by the Consumer Financial Protection Bureau, 42.9 million Americans are facing unpaid medical bills. They’re bombarded by confusing and contradictory messages from hospitals and insurance companies. The fix is in, folks. Big medicine and big pharma are contributing to the flow of wealth to the upper 1%. Throw in a Wall Street bailout after your mortgage goes underwater and a stock market at 18,000 rewarding investors at the expense of workers (for whom we don’t even have the decency to raise the minimum wage) and you have a recipe for economic disaster, including chronic debt that makes workers take any job they can get – or go on the dole. Want more? Check out the goodies for Wall Street in the latest Republican sponsored budget.(The folks who tried to torpedo Obamacare). So yah, stay out of debt. But don’t get sick. And quit voting for the guys who go to work on Wall Street after they’re done in Congress (talking to you, Eric Cantor),

    • Randal Colling

      You need to stop spending all your time getting brainwashed by MSNBC. Being bitter will not help you dude. Just listen to Dave Ramsey, spend less, get out of debt and your life will greatly improve.

      • gates of vienna

        does anyone actually following the alphabet networks?

        • Randal Colling

          Sorry I dont spell English as well as Spanish. Do you speak a second language? Didnt think so.

          • gates of vienna

            America is large and mono-linguistic, so it’s not necessary to become multilingual here. Most of us will never be in a position to travel to a place where we won’t be understood in our native tongue.

            Some of my friends in Europe speak five or more languages, though. They learned because they wanted to travel more fluently on their own continent, especially business ppl. The default business language is English, though, much to the disgust of the French. The Europeans tell me the schools begin teaching kids English at a very young age/

            My son speaks French and Italian passably, though not well. He learned them for fun because languages come easily to him and he has a good ear. I taught myself to read French passably well, and some German, but not so well. That’s because a number of books in of my areas of interest were only available in those tongues. I wouldn’t mind learning Spanish since there are a couple of economists who don’t write in English, only Spanish. One is named De Soto, iirc.

            In the future, we’ll all be considering learning Chinese for job-related reasons since they own so much of us now. The ports in California, the Panama Canal, and much of British Columbia. Not to mention large acreage of real estate in D.C. and Florida. They have their eye on the Philippines and are working on enlarging their interests in Australia – which may be this administration’s motive for sending a contingent of American Marines to Oz.

            Chinese kids learn English in school also – again, because they see a *need* to do so – how can you buy the land if you don’t speak the language? Unless it’s your hobby, no one learns to speak another language unless they have to.

    • Emily

      Ramsey has some good ideas but he is a salesman. He has never once directed a small business person seeking advice to S.C.O.R.E. Retired business executives who give FREE advice to the small business owner. He can’t sell entreleadership if he steers someone to a free option. His ELPs all kick back to him as well.

  • Anthony

    The most effective way to get out of debt is to reduce spending:
    -Stop buying cars, maintenance will almost never be more in the long run than a car payment. Drive it until the wheels fall off, literally.
    -Bring your lunch to work every day and cook all your dinners at home. Stop going to the bar and if you do, drink water or ‘pregame’ it and just order a few maintenance beers during the night.
    -Stop shopping. Period. When you NEED something, as in the one you were using broke or is used up, get a replacement. That’s it. That hat isn’t that cool, that top isn’t that cute.
    -Use a debit card for purchases, carrying too much cash is just reckless and a credit card balance counts up, not down (its a mental thing). Set up a ‘spending’ checking account and calculate how much you NEED weekly for ‘gas/food/entertainment/purchases’ transfer only that amount in and keep the rest in your ‘bills’ account or a savings.
    -Use a smartphone to keep a ‘check register’ as balances reported by your bank can be inaccurate as some merchants don’t report transactions for up to a week. There are plenty of apps for this. While you’re at it, stop buying a new phone every year. The one you have is just fine and you can’t afford the new one anyway.
    -Look for other things you’re spending money on and eliminate them. TV, Gym, Lotto tickets, etc. You don’t need it.

  • burnett blackmon

    i used to listen to ramsey, ’til i figured out all he’s doing is selling his system and catering to the folks that already make bundles anyway. “dave, my husband and i only make 130k a year… what are we gonna do???” think i’ll pass on the snake oil and dead in suburbia crowd. and yes, i have money in the bank, all without bro. daves “advice.”

  • Randal Colling

    The biggest problem is people living above their means. If you live within your means, you shouldn’t have a problem with debt. In the old days if you wanted a car for $5000, you saved the money then bought it. It never even occured to us to “borrow tomorrows dollars” and have consumer goods today. If you like money, keep it in your pocket. Don’t go and give it all to a store. Become more frugal. It’s really that simple.

    • gates of vienna

      We have 5K saved for a newer car in case our current 15 year-old gives up the ghost. I don’t think that’s enough anymore, though so we plan to keep adding to the car account.

      If you’ve always lived within your means and have a “catastrophic” medical event, it doesn’t matter. I’ve already had them put “DNR” in big letters on my medical chart. I don’t want my family stuck with the bills in case some intern decides he wants to perform heroics.

      • Randal Colling

        Your 5K is a good start. New cars are much more these days. If you must borrow try to get zero interest rates, or close to it. I didnt buy my first “new” car till I was 50. I became wealthy at 36. Went broke at 48. Rich is better.

        • gates of vienna

          We will NEVER borrow money for a car. EVER. Car loans and mcmansion houses are two of the major consumer-based decisions that have driven our economy to its present ruin. Of course, they are minor compared to government bloat and borrowing.

          Nor would I want a new car; till it got ‘old’ it would just be a worry.

          Over the years the best deal for us has been a vehicle that’s never been in a wreck and is about 5 or 6 years old. We live in the country, don’t drive much anymore. In rural areas, it’s all about connections. Thus, the guy who sells cars in our area goes to auctions and buys what he thinks he can sell. Now that anyone can get a car’s history, he doesn’t get fooled anymore.

          When it’s time for us to get a car, from all the years we’ve dealt with him, Roger already knows what we need/want; if we give him a few weeks’ notice he can usually find something. He makes sure it’s mechanically sound, fixes any dents and bangs, and has it cleaned. The latter can be a real tough job if the former owner was a heavy smoker.

          You’re right about wealth: rich is better because you have more choices. Being broke can be downright scary. The thing I miss most about having enough money (before my husband lost his job and before I became disabled), was being able to donate to people and projects I wanted to support. These days, I can only offer them prayers but I have more than enough time to give those. Sigh.

  • SERA

    It’s common sense. And stop being slaves to TV and Movie culture. What we find there is a Pathetic waste of time.

  • Leann

    I was doing fine until the State of Illinois Tollway Department offered me a job which I gladly accepted (I was working 2 part time jobs at the time but I was getting by without any help from the State of IL). The night before I was supposed to start I received a call stating they had to postpone my start date because my background check was not completed. I asked why they waited 2.5 weeks to tell me this. (job offer and acceptance came on the 8th of the month and the postponement of my start date came on the 31st of the month) No contact from them during that time period what-so-ever. I explained that I gave my notice to my former employers and was now without a job and without a paycheck, to which they responded “sorry for the inconvenience.” Weeks went by and they stopped answering my phone calls and my emails. A month later I get a letter in the mail stating they were withdrawing their job offer, and again they are sorry for the inconvenience this may have caused. This coming from a $140,000 a year administrator, Ms. Debra Allen. So now I would like to know how am I supposed to get out of debt when The State of Illinois dragged me away from my current employment with the promise of a job ($42,000 a year), and then took away the offer and left me with nothing as I had already gave notice. I am now living on a Link Card and have applied for assistance with my utilities. Any suggestions on government assistance in Illinois would be greatly appreciated, after all it is the State of Illinois that is responsible for my situation. All I can say is be very leary of any job offers coming from the Illinois State Tollway, and especially be leary if Ms. Debra Allen, Chief of Administration is involved in any way. It is most certain to end badly for you and she will laugh at your hardship as she did mine. When I asked her what am I supposed to tell the gas company about paying the bill, should I tell them they will have to wait because I don’t have a paycheck right now because the Tollway, after 2 months is still checking my background. She laughed,

  • ExplEngineer

    I have to agree with 95% of what Mr. Ramsey says. Debt should only be considered for two (2) specific purposes, purchasing a home (primary residence, not a vacation home), and buying a car. After that comes a small schism. Mr. Ramsey seems to favor buying an older used cars, without some of the now customary options that make driving more convenient, as well as, in some cases they provide additional safety as when airbags, and as far back as when seat belts were optional equipment. Many of us spend a considerable amount of time in our vehicles every day, during the week it is commuting to & from work (of course if you don’t have a job you have no business even considering a new or premium cars), and for both chores, and even hobbies or vacation trips. IF, & ONLY IF, you, or your family unit if you are married, or have child support payments due, & you want to indulge in the purchase of a car that will require that you obtain financing to complete the transaction, and if you have the basics completed, low or no credit card debt, a steady income from your job (if you are, or will be working a 2nd, or even a 3rd job to make car payments, forget it, you need more time with your family more than you need that car) you are participating in a fast disappearing defined benefit pension plan such as a civil service retirement plan, or had substantial savings set aside to supplement your retirement or a component thereof, why not enjoy yourself, give yourself, and your family a gift of sorts and just go buy that Dodge Hellcat or Camaro ZL-1, or a Land Rover or MB G’wagon. No, I am not a car dealer, but I am a car collector, and I have a substantial number of cars in the collection, all of which are “drivers”, the Lads & I go to club activities, and sometimes we go exploring (in which case I use my, not horribly so but generally more expensive D-GPS system) which is installed in my G-Wagon, which was acquired for the specific purpose of going off-roading, exploring areas of historical importance, finding our way first to the point where a historical event had actually occurred as indicated in contemporaneous documentation, and then looking at suspect new mapping software, or maps, searching for errors to report, or simply finding an old wagon trail, ettcl to go exploring. At times I even activate available time on my Satellite phone to ensure that in the worst case we do not die in the desert stuck in a damaged or failed vehicle equipment or other malfunction. Is this spending unnecessary, but my Rule No. 1 is “Don’t buy a toy (Car, RV, boar, etc.) unless you can pay for them on the spot, or if your credit card has a good cash back program, and the card also supplements the warranty without extra charge, etc. and it is to your benefit to use it (either to pay for the item, or as a “bargaining chip” as at times you can secure an additional discounts if you can suggest splitting the 3%-5% fee that the seller will incur as a result of you use of a credit card). In any event, there are any number of reasons that exist contrary to the generally sound advice from Dave that will provide immediate gratification, or just plain some form of enjoyment that exists but is not quantifiable in monetary terms, and IMNSHO, & with great respect and deference in most cases ot Mr. Ramsey, that I would consider proper foundations for a decision to just buy them. Not on borrowed money, except in the case of an upgraded new or “COPO”-used car, but if you can afford it, it does not interfere with either emergency funding, or other critical parts of a financial plan, including retirement, & you will not have to work O/T to pay for it and never have the time to use it, etc., I see little or no harm in self indulgence. But that is only one opinion, and some thoughts, each person should review their individual circumstances and make what they see as sound decisions. Just absorb the information presented by financial planners and columnists, and integrate the critical components contained therein, and then, should you really want something, and have worked hard to have extra money necessary to pay for it, why not go for it. There is not as much value in leaving large estates, and trust funds, again, IMNSHO, large inheritances breed indolent and avaricious offspring. If it makes you feel better to leave someone an extra $100,000.00 than to own a Dodge Viper, an RV or vacation home, &/or a Safari in Africa, that build a trust fun. If that trip to Jerusalem, Mr. Everest or whatever it is that will make you a bit happier after a cost/benefit analysis, why not go for it. So many older people today feel that leaving a large estate has some intrinsic value, however, once your adult children have an undergraduate degree, if they are special needs individual your responsibilities have been me in terms of providing them with the support they will require, etc, and you do not incur excessive indebtedness as a result of the use of theses “psychological” toys, the what would be the reason for self-deprivation. At times it appears to make about as much sense as when my parent would tell me as a child that I needed to “clean my plate, people in Europe are starving”. Since I never saw them packaging up those leftover brussel sprouts and send them over to what I am certain would be an appreciative child in Latvia, and I am virtually certain that they could not return them to the grocery store for a refund to donate to UNICEF, so to this day I still wonder how a famine in a foreign country could be remediated by depriving my mother of the opportunity to run two (2) brussel sprouts through the disposal in the sink, nor quite honestly why I should care about famine in foreign lands where families overbreed, having, at times, >3-4 children and replacing them with new ones when the older ones die of hunger, and that nation is generally not a free enterprise state because the citizens are too darned lazy to revolt and seek freedom from oppression, allowing communist dictators to rule every element of their lives. A good example is North Korea, do I really care if those people are starving when less than a century ago they not only declined the assistance from Western nations who fought a war on their peninsula to free them, only to have them fail to overthrow their communist dictator. There is generally a common thread among the poor, and the starving in the world and it is, as is the case with dynastic families over the long run (see the DuPont heir that locked himself in a family castle in DE), that they have allowed themselves to become indolent, and in their avarice have come to conclude that if they do not fight for the freedom from tyranny in government and then they begin to fail to produce foodstuffs and other essentials that advance their economic standing, and to expect the wealther nations of the West to provide for them, cure their Ebola, feed them, etc.

  • TruthTalker

    Don’t make enough money? Go back to school.
    Cant find a job? Learn a new skill.
    In debt over your head? Who spent that money? Who justified it? You did.
    For a million years, man survived on what he had. If there was no food, he grew more…, adapted to new food…, or moved where there was food.
    Lots of people want a bailout. Why ? Due to your bad decisions?
    Take control of your situation. Educate yourself. Stop SPENDING!
    Read the book..think and grow rich.
    Cut up the credit cards.
    Call the banks and request a rate drop.
    Set up an emergency fund.
    Join a warehouse club..costco, bjs, sams…
    Pay off the cards one at a time.
    Someday your credit will improve, and it can be used to your advantage.
    Stop blaming others, the government, certain political parties, the economy, your job field…. it may or may not be your fault you are in the position you are in….but it IS your fault if you belly ache and moan about it..and do nothing about it.

  • Max Guthzeit

    I do the same projections, but I use Quicken to project out my budget for a whole year in advance, everything that I can possible forsee, and from the previous year; If a specific amount is unknown I use best guestimate. With the magic of technology, I can then change amounts, and add or delete items as time progresses and quickly scroll through the year to see if I hit a low spot and need to adjust spending or transfer money. Use the tools available!

  • Bruce

    I have to wholeheartedly agree with ‘Oldwhiteguy”. I’ve been a presonal tax and financial advisor since business school in 1976 so it’s easier fo me to see the right things to so. Think of interst you pay on credit cards and store accounts as draining out of a hole in the bottom of your paper cup filled not with water, but with $$$. When I grdauated with my MS Finance my pesonal balance sheet was negative (I owed more than I owned). Learn to cook so you have good meals with wine, beer, whatever, much cheaper than eating out and save $$$ throughout the year. Buy a 3 yer old carout of lease instead of a new car and save $$$$. Most importantly, don’t give up ! If questins you can reach me at Taxpro1040@aol.com. Bruce

  • Paul

    Having high schools teach basic checking, saving and credit principles in mandated classes would be a start.
    There were none of these lessons and advice provided in my school era. Parents came through the depression. I am retired and had a very successful business with a two year degree. Paying for college debt is a killer for many. Pay as you go is a much better avenue to pursue. I know–easy to say–but it is atytainable.
    Ramsey has his followers and he can give advice–get out of debt. He has walked in those shoes but has migrated to his present advice over many hit and misses. Having been in credit and collections for over 50 years, the biggest stress to a family is financial–other than medical. It certainly has caused many families to break up.
    heed the advice. manage any debt and get rid of it ASAP.

  • Toast Points

    Any interest snowballs. That great sweater on sale cheap becomes outragously expensive when you pay interest on a credit card for a few months.