Life is easier with money. It doesn’t buy happiness, but it buys security. And feeling financially secure is a BIG factor in feeling/being happy.

@coryulrich6489

3 жыл бұрын

I disagree a little. Money totally buys happiness. Just not directly. I tell people who say that if your money doesn't make you happy, the you're spending and or giving wrong.

@soybean70

3 жыл бұрын

Sometimes you have so much worth and responsibility you become very unhappy

@lawv804

2 жыл бұрын

Money may not buy happiness, but money problems always cause unhappiness.

@wandahaines7143

2 жыл бұрын

@@soybean70 then you need to downsize.

@ryancalhoun2910

2 жыл бұрын

"Money doesn't buy happiness. It buys a more pleasant form of suffering." -Peter Sellers

1 year into baby step 2. Payed off $14,000 of $27,000 so far. Making $37,000 a year. Plan to be finished by September.

@jmicm13

6 жыл бұрын

Michael Skocdopole congratulations on the hard work! $37,000 gross or net?

@BonnieHalfElven

6 жыл бұрын

Good job! That's tough on $37K!

@ibmtpx24

6 жыл бұрын

Michael: Great work. Now get that part-time job you always think about and knock baby step 2 out before summer!

@norsefalconer

6 жыл бұрын

Fantastic! Stay the course.

@ShiaGirl18

5 жыл бұрын

Are you debt free now?! Congratulations on your progress

27 yrs old, I’ve got 35k in an emergency fund and it feels amazing. No stress here and I sleep like a baby

@TheDersEffect8

4 жыл бұрын

25 years old. No debt. 25k cash in the safe and 10k in mutual funds....sleep like a baby and never check the account if I go out with friends.

@unkemptcasanova1476

4 жыл бұрын

That's probably too much tbh. Unless your expenses are astronomically high.

@braceyourselvesfortruth2492

4 жыл бұрын

I'm not going to hate. That is a great start, but you need to start making that money work for you. Even as low as inflation is, you're losing that money over time. Also, having so much cash lying around makes you less likely to price shop when emergencies do happen. You're smart, but I would say keep learning.

@Somuchcooleronline1

4 жыл бұрын

That'd be like 2-3 years expenses for me.

@RM-sp6tc

4 жыл бұрын

Well done

I am so happy I had the opportunity to find Dave before I financed a car. I was going to give 5k down payment. Instead, I bought a used small car for 5k. Right away I started a car fund. Every month I save 150 Euros. I needed to change 02 tires (162 Euros)... no problem! In a few years I will sell this car and use my savings from my car fund to buy a newer model. I learned this with Dave! In the meantime time, I know a lot of broke people driving beautiful and big cars!

@BonnieHalfElven

6 жыл бұрын

A car fund is my 3B, as soon as the emergency fund is completed!

@isaih_1

6 жыл бұрын

Val S. Great story. Inspiring.

@diego-lima

6 жыл бұрын

Bonnie Half-Elven what’s a 3b? I’m lost on these steps. Is there a video where he teaches these? Thanks!

@diego-lima

6 жыл бұрын

Val S. I haven’t bought a car yet but I though about doing just what you said. Down payment then installments every month. Im saving now for a ar then I’ll do exactly that, pay myself for a future car!

@L1dechuy09

6 жыл бұрын

I wish I had found Dave before I got my new car.

39 yrs old with a wife and two small children, I have 50k stashed away in my savings account as an emergency fund. It took me 12 years to get to this point from living carelessly to tracking every single dollar that goes out. Thank you Dave!

@waqcapital

2 жыл бұрын

Good job

@Kiara_Wrestler

2 жыл бұрын

Great dad

@skeme1213

2 жыл бұрын

Well done brother

@RonJohn63

2 жыл бұрын

Sadly, it took me a *LOT* longer than that, but I've had a year of savings for a few years.

@tonyfarias859

Жыл бұрын

God bless you brother

I had an unexpected job loss recently. Thankfully they let me go with a pretty generous severance, and I would've been able to claim unemployment eventually. I also have a solid 3 month emergency fund and I fund my budget 1 month in advance. The next day, after I had started to get over the shock, I re-did all my budgets to see how long I could hold out financially. With severance + unemployment + emergency fund + cutting spending to the bare minimum, it would've taken me 3 years to be broke and homeless! Thankfully I got a new job in less than a month! :D

@RonJohn63

4 жыл бұрын

A while ago, I made a copy of my budget spreadsheet, named it "unemployed budget", and started chopping nonessentials (while adding COBRA costs). It was eye-opening and helpful.

@ogj13

4 жыл бұрын

Amazing ! Good for you! 😁👍🏽👍🏽👍🏽

@thomasarnoldcoe6527

2 жыл бұрын

Good skills, mate

@bia_dev

2 жыл бұрын

@@RonJohn63 Amazing tool to see what's really essential. Sometimes comfort takes up too much space in our lives lol

Emergency fund turns a crisis into an inconvenience

@davidreynolds4942

5 жыл бұрын

Lydell Sumner thank you for the wise words Mr Sumner!

@Nate-gj7pb

5 жыл бұрын

@@davidreynolds4942 a crisis is always an inconvenience, surely? When is a crisis convenient?

@ShiaGirl18

5 жыл бұрын

I'm working on my emergency fund. I really had enough when my cooking gas was finished and I had no cash to buy it.

@Fixin-To

5 жыл бұрын

Nathan G Please don’t breed. Negativity aimed at positivity is caustic and wasted energy.

@clarifyingquestions

5 жыл бұрын

love this - emergency fund turns a crisis into an inconvenience, but what is an actual emergency. for example - vacancy in a rental property? Dave uses car break down as an emergency but like the rental property rental vacancy should a person not have a car maintenance fund, vacancy fund, a house maintain fund because these are to be expected not a real emergency like unexpected illness, funeral travel expenses etc.

I can tell you that a fully funded emergency fund is such a peaceful feeling!

@QualityChildcare1

6 жыл бұрын

td li yes it is having EF makes life a little easier.

@joshuamorris2908

6 жыл бұрын

Very true bro

@yourentrepreneurjourney

6 жыл бұрын

td li-amen👏🙏

@capnskiddies

4 жыл бұрын

I can't wait for that peaceful serene sleep.

@RonJohn63

4 жыл бұрын

Correct: you're not living paycheck to paycheck any longer.

When he said when you’re broke everything that can go wrong will, that is so very true . Money makes life easier, anyone who says different has never lived it

I have $10K, on the way to $12K. I live in an old house with old appliances and drive an old (but well-maintained) car. It feels so good to know that I could have a major problem and be able to cover it!

@switchbladeromance1466

6 жыл бұрын

Bonnie Half-Elven Well done ..I'm in the exact same position but my house is well maintained...isn't saving fun..Dave rules 😁

@ayyookc

6 жыл бұрын

Bonnie Half-Elven this might be a dumb question, but do you keep your emergency fund tucked away at home in case of anything or just trust the bank?

@BonnieHalfElven

6 жыл бұрын

I have it in a credit union. They are insured, so if anything happened to the bank, I would be covered. My house was broken into last summer. They looked between the mattresses among other places, trying to find money, so I definitely trust the bank over my house as a safe place to keep my emergency fund.

@ayyookc

6 жыл бұрын

Bonnie Half-Elven thank you and sorry your house got broken in to.

@switchbladeromance1466

6 жыл бұрын

KC Velez hi..I have my money in the bank as an ISA..the interest isnt a lot but its safe as it gets :)

Dave, I’m only 21 and learned my lesson, I’ve been watching your videos for about a month now and you’re planting seeds in my mind. Saving money is really common sense!

@shebakali6

6 жыл бұрын

Wish I had your smarts at 21

@kevinandersson2133

6 жыл бұрын

Same! I’m your age aswell and been watching for as long :)

@gaoki2594

6 жыл бұрын

Im 21 as well first time in my life that ive saved and stopped spening my whole check on pointless materialistic things. Got 1100 saved as my emergency fund and now paying my debts, every check that I get makes me less stressed about not doing and just drowning in my sorrows cause I was broke.

@nathanielaranda8407

5 жыл бұрын

Mark Tanteo absolutely! I’m 20 and refuse to barrow money 😠 and emergency fund is always essential! 😄😄

You’re so right! I had to get my car fixed first thing into this New Year. The dealer called me and said I needed $1700 worth of work and asked did I want to get it done. I told him go ahead and do everything and he says “ you want everything done? “ I said “ Yes do it all. I’ll have the money “ 😂. My 07 Chevy (that’s paid off) is running like new now. It felt good to not have to stress and keep my old car on the road a little longer.

@yourentrepreneurjourney

6 жыл бұрын

It's Tabaitha 👏😍💪💰

@kentblair

6 жыл бұрын

Next time get a second opinion.

@joshuacampbell198

5 жыл бұрын

YOU GO GIRL!

@Elena-er7zp

5 жыл бұрын

Bahahaha. Same! I had to have some suspension fixed on my 2004 car. The shop guys think I am crazy because it is a 2004 with 204,000 miles on it. Dude, I'd rather spend $1500 a year on my car's maintenance than spend $4800 a year on a car payment.

@Elena-er7zp

5 жыл бұрын

QuixoticQuaver well if she went to the dealer for repair then yeah, she got scammed. if she had found a reputable repair shop, they could have done the same work for one half or one third of the price.

Every thing Dave is saying is just pure wisdom, absorb it!

@Zania16ify

6 жыл бұрын

Cyps36 lol it's common sense... ;)

@ShiaGirl18

5 жыл бұрын

I cannot afford to go into debt again.

@cspy5073

4 жыл бұрын

Cyps36 we have the same initials! 🙌

Can't wait to get my Fully Funded emergency fund, almost done with Baby Step 2.

@derrickthomas1897

6 жыл бұрын

Congrats

@norsefalconer

6 жыл бұрын

Good for you!

@mr.boostang2064

5 жыл бұрын

Same, I just have to sell the car and payoff the upside down, all other dept is gone ✊🏼

@lilliansanders5470

5 жыл бұрын

Which book is this ? From Dave Ramsey

@rashadarmbrister2230

5 жыл бұрын

Total Money Makeover

"You're so broke your life looks like a country song" I love it 😂

AMEN!! My washer and dryer went out!! I was able to buy a new one for $933.00, with cash!!!

@12mobil1

6 жыл бұрын

They are a one piece stacked unit. No other option.

@yourentrepreneurjourney

6 жыл бұрын

Kevin Schaefer 👏💰

@aerohk

5 жыл бұрын

Should have use a credit card, get cash back, pay it off in the same billing cycle.

@Elena-er7zp

5 жыл бұрын

Aerohk Nope. You use a credit card, you form the habit of using the card. It ain't worth $9.33 of cash back hahahaha

@GR-uc1gq

5 жыл бұрын

@@Elena-er7zp If you don't have self control sure

Here's some advice you almost never hear. Save money by keeping YOURSELF in good healthy condition. This applies especially to dental care. Dental work is expensive, rarely covered by insurance and nearly impossible to ignore. Brush and floss folks, and get regular check-ups if you can afford them. Prevention is cheap.

@myopinion8882

5 жыл бұрын

Well said & so true!

@Nonameagain80

5 жыл бұрын

Very true, and untreated cavities can end up a brain infection. Keep teeth and the rest of you clean!

@rodriguezk96

4 жыл бұрын

Oh yesss that is very true

@msmbjohnson

4 жыл бұрын

Yes!!!

@j_boogie_483

4 жыл бұрын

I'm nearly 40 and I'm finally getting long deferred dental work because now I actually have money and time. looking forward to finally getting braces and eventually having confidence with a smile I don't need to hide.

Lost my job in 2016 - thank God I had an emergency fund. Had only a little part-time work for almost a year. Fully employed now.

@RonJohn63

4 жыл бұрын

Thumbs up. Presumably you also had a budget?

I have 3 emergency funds for home, auto and health.

The look on the face of the repairman when he told me what it would cost to fix the water heater when I told him we would pay in cash and not finance....

Cant wait to have a 6 month emergency fund!!

@iphoneusdsd

4 жыл бұрын

Its the way to go..

We've had a 4 month emergency fund for almost 2 years. What Dave said is so true. It adds a level of emotional peace and stability. Our main water pipe just broke and it is going to cost about $3k to fix. It sucks, but it's so nice knowing we can just write a check and not worry about how we'll pay for it. Then we'll build the fund back up.

$1,460 away from being out of debt, then I cant wait to start my fully funded emergency fund

@paigehodges

5 жыл бұрын

Aaron Fisher - Go Aaron Go! Fantastic! Great for you and best from Atlanta. - Paige

@arleneaugustahair8393

5 жыл бұрын

💃🏾💃🏾💃🏾💃🏾💃🏾 CONGRATULATIONS 🎊🎈🎉 I love hearing news like this because it keeps me motivated.

@GR-uc1gq

4 жыл бұрын

How much emergency fund do you have now

When you have money you can say "it's only money."

We just started baby step 6 in January 2018! I have neverfelt so good in life. 10 years ago I had debt, major stress, and lack of financial knowlege. Thank you Dave for your wisdom! Stay blessed!

@claimthecrown

6 жыл бұрын

thats great. Im happy for you. God bless

@norsefalconer

6 жыл бұрын

Stephanie Brown that's Awesome!

@rubena7674

4 жыл бұрын

Way to go!!

He is so right. I had completed Baby Step 1 last year and last month my heater needed a repair. So thankful that I had the emergency fund there. Already replenished the account too.

@shannonjohnson4314

6 жыл бұрын

Sarah S. Awesome 👏🏾

@norsefalconer

6 жыл бұрын

Good for you! That's Great!

@nsant

5 жыл бұрын

I'm an hvac technician so it's practically free when my heating or air goes out!

It feels AMAZING! So much stress removed when you get that first $1,000. Now got the 6 months of expenses, so doesn't mess with your head if things go wrong.

@mr.boostang2064

5 жыл бұрын

I'm about to finish baby step 2 and let me tell you I have no idea how we went about without a $1000 EF and thousands of dollars in dept. I cant even imagine how relaxed I'll feel when I have 6 months of EF saved up and have zero dept 😱

I am low income yet having money in my bank account helps me not stress when i need to pay for something, food ext

I’m on my goal to saving $10,000 this year. An emergency fund is a God blessing.

@donwald3436

6 жыл бұрын

Re3iRtH Then one month it won't come in and you're 20k in the hole lol.

@SiMPLYHaZZaRD

5 жыл бұрын

@@donwald3436 You spend 30K in one month?

“When you’re broke, its hard to have good luck.”

Since I started doing this system my life is better. It's not just finances that improve. You start living in a different energy and everything begins to work in your favor.

On Step 3B and I have found life running so much more smoother since starting Step 1 two to three years ago. I couldn`t live any other way now.

I'm pretty financially savvy, but íve started watching Dave Ramsey for more knowledge. I've always found what he said in this video to be true. Same thing for me but with my phone, walking along the street one day and my phone falls out of my pocket screen first. I was annoyed because of phone drama but didn't bat an eyelid for financial drama. It's a good feeling, and something I strive towards because from a young age I saw people running around like headless chickens, mentally stressed because of unexpected financial situations.

My mentor told me one day work until what was one expensive to you becomes cheap

This is similar to what happened to me last July. I was on my final credit card (baby step 2), when my Mother unexpectedly passed away. Because I had an emergency fund, because I was no longer living paycheck to paycheck, I was able to bankroll the expenses without going into further debt between the savings and my paychecks from my job. The probate is officially over and a few details are getting wrapped up, but because of this, I was able to cope with her death, the drama from other family members, and blessed with peace to handle what happened as a result of her death. I would not have been able to do nearly any of this living paycheck to paycheck.

@BonnieHalfElven

6 жыл бұрын

Sorry for your loss, but so good you didn't have money drama on top of it.

@ibmtpx24

6 жыл бұрын

Dawn: my condolences for your loss. I am sure your mother would agree that you made her proud by being intentional and determined to get your finance in order.

@carlaries4240

6 жыл бұрын

Sorry for your loss. My mother passed away last July too. Emergency fund wiped out to pay for the funeral. But, glad we had an EF to give her a nice send off.

@genealotech

6 жыл бұрын

Carla, I’m so sorry to read of your loss. I am now making my own arrangements, much like my parents did, and prepaying for them. All of the decisions have already been made by me and it won’t be a burden on family or Church.

@carlaries4240

6 жыл бұрын

Yes. My husband and I have done the same. Have a lovely day. I'm in Australia. Just woke up :)

Almost at 3k while still in college! emergency fund makes me feel safe 🤗

@InvestToLive

4 жыл бұрын

Congrats!

I love my emergency fund!!!!

“I’m so broke I couldn’t pay attention” 😂 classic

Money buys you the freedom and with freedom will come happiness

I wish we had a finance subject back in high school with Dave Ramsay as my teacher. I think I would be in a better financial position today.

@theayegerlehner7793

3 жыл бұрын

I graduated college in 1983 with a secondary education degree. I taught such a class but it was for high schoolers with learning disabilities. Basically those students who would not be going to college. I learned a lot by teaching this class! LoL Common sense is just that “common” and most uppity arrogant people don’t have any!!

Just had £1037 bill to fix my car ... so thankful for my £1000 emergency fund! Gutted it’s all gone & I have to start again but imagine what would have happened without it!

@lovethemflowers

6 жыл бұрын

Reassuring that it’s there for me if I need it, but it STILL BUGS ME that I would have to stop the debt snowball to rebuild it! I wanna keep moving forward.

@jgood005

5 жыл бұрын

Without the emergency fund you would've had £1000 more in debt!

@Nonameagain80

5 жыл бұрын

Is us 1000 roughly the same for 1000 in euro and others? Some places 1000 is a million or maybe just 10. Wonder if aome people aught to do a conversion table

@alex2143

5 жыл бұрын

@@Nonameagain80 Dunno, but I think a straight up conversion table wouldn't really work. Example: if you were to convert $1000 into indian rupees, you'd get around 70k rupees, but you'd be able to get a whole lot more for that in India than you'd be able to get for 1000 USD in the US. For euros and pounds they're close enough where 1000 is still a good amount. The idea is to have a bit of cash that would be able to pay for moderate financial emergencies. For other countries, the amount may vary but the principle is still the same: make sure that you have a small buffer for when life happens.

I'm like Dave's wife, who he sometimes mentions insists the emergency fund has emergency funds. We have the general one, but then we also have accounts for things like home repairs/projects and medical/vet bills. They're not nearly the size of the EF, but if the fridge kicks it tomorrow, we can replace it easily from the home repairs fund. We could always use our EF is something exceeded these smaller accounts, but they usually cover it and I feel better not even touching the formal EF. When an unexpected car repair comes up, that comes out of our car savings account, where we sock away our money for our next vehicle and the odd repair that arrives without warning. He's right about having less 'emergencies' when you're no longer broke, and I think he nailed it when he mentioned part of it may be simply learning to plan ahead better. I live in New England, and the number of folks in my social circle panicking when it's time to fill the heating oil tank baffles me. Were they somehow unaware this would need doing during the winter, and that it can be expensive? The time to plan for it is NOT when your tank is on 1/8th and sub zero temperatures are predicted!

@KiaTheDMVBison

6 жыл бұрын

K H-C thank you. I was just thinking about creating a minor EF account today and how to keep track of it. An Excel spreadsheet with sub-categories like car repairs, new tires, funeral funds, etc. will do just fine. Sometimes you need to hear how others are doing it to know you are not crazy for thinking such things as well, how to make it happen, and it WILL give you a sense of peace just as it has for people like you!

@TheRisky9

6 жыл бұрын

I can tell exactly how that happens. They have a "soft budget". A soft budget is where you have an idea of how much money, even if you don't write it down. I had that for years when I was a teen when I had few expenses and no car. However, it pales in comparison to an actual written budget. Because with a soft budget, you have to pray your limited money will exceed your unlimited wants, and unless you're thrifty, that won't happen. Because before you know it, the gas needs to be filled and you never accounted for that. I've recently moved to a written budget once I found an online tool I liked. I tell you, it changes everything. You don't waste as much on useless things. I lost weight because I decided I wasn't going to buy sweets anymore other than a small jar of Nutella knock off. I've become a better cook. I've kept my car maintenance in order. I'm far less jealous of others. I have that one bedroom apartment I thought I couldn't afford in a safe area , but I can.

@RonJohn63

4 жыл бұрын

"We have the general one, but then we also have accounts for things like home repairs/projects and medical/vet bills. They're not nearly the size of the EF, but if the fridge kicks it tomorrow, we can replace it easily from the home repairs fund." This is exactly what I do: give every dollar a job. (I got that from YNAB before ever hearing of DR.)

I've been "backsliding" with my finances... Got too comfortable having a safety net, and now it's gone & I'm back in debt. I'm getting serious though, no more fooling around. I grew up in a broke family, always scared of money problems. No more, I'm taking back control. 😠

Have always had large emergency fund and it is such a relief when something breaks to be able to get it fixed properly and quickly.

It is great having the emergency fund! When sudden expenses hit, or there is a change in my income I know I have a cushion between myself and Murphy. I hear all the time at my job how one bad day ruins a persons fiances for a year because they live paycheck to paycheck. Having a fund to take the hits of life feels great, and like Dave said "it makes emergencies into inconveniences.

Buy quality, cry once.

I put $20 a week into a car maintenance fund while I also have an emergency fund... today I had a surprise car repair of $1k- while it was a bummer- I was able to easily pay for it by using a combo of both funds. Now to rebuild the emergency fund. It was an inconvenience but not a crisis.

I started following your channel 2 years ago. We are now in baby step 6. I ended up saving 14 months for emergency fund. The safety net and peace of mind is great. Inflation does erode some but I do invest 15% of my income into retirement. Now paying off the house is my goal that is close in sight. Your method and though process has changed my life and financially given our family the freedom to dream about future goals. Thank you for everything you do

I've been trying to keep 1000 in my savings and I recently had to get a new car battery. $170 it was nice not being so stressed that I could do it.

This is so true. Before we became debt free, any kind of unforeseen expense was a crises. Normally we ended up putting it on a credit card and then being more frustrated because we just couldn’t seem to make traction at paying them off. Now, by making better spending decisions and having an emergency fund, something like a recent $500 vet bill for our bulldog was just a nuisance. Knock on wood that we haven’t had to tap our emergency fund in many years. That fact that’s it’s there in case we do is very comforting.

We were both in the need of new rubber boots for where we live (it rains a lot) and we were in luck as the shoe store had some on sale that month (60% off). Problem was we were completely broke and had to wait until the month after and therefore had to buy them at full price instead. This is also the cost of not having any saved money, and spending everything you earn.

It's so sad that we even have to talk about this. My wife is from China and saving money there is like breathing air. I asked her if she had student debt and she looked at me like I was from Mars. She nor her parents have credit cards, they own 3 apartments free and clear. Where did we go wrong?

This is the most common sense advice ever. So sad nowadays that common sense isn't common. Thanks Dave!

@JaredSneed23

6 жыл бұрын

Common sense is only common because someone messed up and it hurt..

@RonJohn63

4 жыл бұрын

Common sense has *never* been common.

we have two years of emergency fund!

@pimaggot

5 жыл бұрын

Why? That is too much.

@06kiely

5 жыл бұрын

There is never too much

@Nonameagain80

5 жыл бұрын

@@pimaggot a bad medical situation can easily be 2 years min. And that doesnt even include the medical bills

@alex2143

5 жыл бұрын

@@Nonameagain80 Sure, but if you want to take bad medical situations into account you might as well have 50 years of emergency fund. And it's possible to have a 3 to 6 month emergency fund, and invest the rest in such a way that you can still get access to it if you need it.

@KPad87

4 жыл бұрын

how much ?

I fixed our AC unit by watching KZread videos. The fan motor on the outdoor AC unit died. I saved $600 doing the replacement myself compared to what HVAC company wanted.

@Elizabeth-yg2mg

5 жыл бұрын

Congratulations! How did we get by before KZread?

@Nonameagain80

5 жыл бұрын

You tube is great!

@multimeter2859

4 жыл бұрын

And who said you couldn't learn stuff online? Lol good job man.

Excited to start my discipline on financial freedom. 27 years old, $3k in credit card debt, $36k in student loan, but luckily I did come out with a degree. Started with a few hundred now in my savings.

So broke can’t pay attention lol 😂

@TheCarnivoreSoprano

6 жыл бұрын

real talk

@RezzNations

6 жыл бұрын

😂

@marcoscaligaris3110

5 жыл бұрын

NANGSTAGRAM TV You

@marcoscaligaris3110

5 жыл бұрын

SuperPhdiva SRB Has que you guys wanna do

@Elizabeth-yg2mg

5 жыл бұрын

Been there.

The emergency fund is EVERYTHING. It makes life so much easier, especially when you are making closer to the median income rather than a small fraction of it. I have lived nearly all my adult life living at a fraction of that dang number. Costs of living goes up, but the salary never keeps up, or the disability income doesn't keep up with inflation, and neither does the part-time income limit go up much. When you are poor, several things are important. An emergency fund is one. Another one is minimalist living. If you have to ask how much is something, you can't afford it. LET IT GO! Fiscal discipline is another. Budgeting skills is very important, too. The danger in making really good money is forgetting the value of a dollar. One mustn't become complacent that you don't care how much something is. It is a mistake to raise your lifestyle substantially just because your income goes up. Get it to a modest, but comfortable level, and then when your salary goes up even higher, don't change it! Instead sock that money away because you're going to need it as long as Western civilization careens down the path to destruction. It becomes very easy to lose the discipline developed in the early years. Before you know it, you wonder how you got $.5m in debt! The difference between well to do and broke ought to be that when you see that bill for $300, you know exactly what it is, and you know exactly how it affects your budget for the money, yet there is NO stress over it. Never forget where you came from.

22 turning 23. Job with almost completed Bachelors. On pace to paying off $22k in student loans this year with $3k pacing in savings. Thanks to Dave! Also, already paid off a Sallie Mae loan of $1918 🙂

@Nonameagain80

5 жыл бұрын

Good job!

My wife and I live below our means. We always have between 10-20K in emergency fund and 1-2K in the safe at home. We don’t think it’s a lot of money; it’s 3-6 months expenses. We treat 10K as if it’s zero. It’s a helluva way to live- it means you have money for anything that comes up. I lack nothing.

I find that comment funny that someday I'm gonna be a millionare and the muffler fell off the car, lol! I was on the way to work wish to myself to be a millionare too then my motor locked up and seized from excessive oil consumption on fair low mileage car. Luckily, the warranty cover it.

I can attest to this. I had a car with a torn boot and the other being ready to go. The mechanic said I could save money replacing both boots, but he understood if I didn't have the money. I said, "Money isn't a problem. Replace them both." I later got a better car, of course, but it wasn't a problem for me at the time because I had the cash. I never had to go to mommy and daddy and ask for cash. A place to live once in awhile? Sure. But never money.

Yeah, when you’re poor and you have a financial setback it BREAKS you. When you’re wealthy and have a financial setback, it just another check to write... that’s the difference.

I'm a Baby Step 7er. Living in Financial Peace in this pandemic. Thank you Dave Ramsey

I currently have a 5 month emergency fund, but after I pay my car off early next week I'll only have 3 months emergency fund... but I'll be debt free other than the mortgage

I'm a baby to the 1st baby step😆I have $250 saved right now but I am fully committed and about to go twice as hard..

@Nonameagain80

5 жыл бұрын

You can do it!

@mouwlylee5014

5 жыл бұрын

Good job loudpacg👍👍

@RonJohn63

4 жыл бұрын

We were all there, buddy. The longest journey starts with the first step.

@w04andia

4 жыл бұрын

Yes!

Never and never again 🙏🏽

I drive Toyota's, so I have never been stranded on the road either! Hehe

@drinkthekoolaidkids

6 жыл бұрын

DeathMammoth Your exactly right , I'll never drive one of the American big three ever again , there's nothing like having to put a car in the shop especially when you still owe money on it , I could rant on American made junk cars , but I think we all know what's up

@QualityChildcare1

6 жыл бұрын

DeathMammoth I agree Toyota’s are great reliable cars 👍🏾

@Darrencardinal

6 жыл бұрын

My 2003 Toyota Camry is super dependable. I love it!

@brent1041

6 жыл бұрын

That's a stupid comment. Yeah Toyota's are pretty reliable cars but everything can break and needs preventive maintenance.

@y2ksierra

6 жыл бұрын

DeathMammoth The way someone takes care of a car means a lot more than the name on the front of the car. Any car can be neglected to death.

So here was my eureka moment with money. >be me >driving on fort campbell >hit pothole (it was on a slope and I couldn't see it.) >dented my engine cradle >got an estimate for $1700 >made insurance claim since i had no ef >ruled a collision, so they raised my rate >I could've bankrolled the fix if I had an ef >I now have an ef

"Cross the railroad tracks and the dang gone muffler fell off"........Hilarious.

Preach!! I got chills watching this.

I really want to hear Dave’s rant on the new Starbucks credit card.

@Ericaskye89

6 жыл бұрын

What????

@thuggyduggy1525

6 жыл бұрын

Stupid on steroids.

@theloganmonster

6 жыл бұрын

😲🤔😳😳😳 wow

@ImprovementisGrowth

6 жыл бұрын

Marbles P are you serious?

@lovethemflowers

6 жыл бұрын

Marbles, Dave has responded to what he thought of the Starbucks card. It was during the 2nd hour of his show on Friday, Feb 2nd. I heard it live, but just had to go hear it again on TuneIn. There the “hours” are 40 minutes long. Someone emailed in with the question and Dave didn’t actually rant, but his response was priceless. I like to listen on TuneIn to go right to a certain spot in the show rather than listen on his channel and wait for that part to come up. If yiu miss it, you’d have to listen again until that part of the show comes back around. I WAS kind of surprised it’s not on KZread yet, but it WAS just Friday. Might show up soon.

I try to save up during good times to cover bad times. I think of the ants and the grasshopper. The ants store up food during the summer to save for the winter.

yeah! work hard and save money people! live below your mean! buy thighs as need not want! and of course don't forget to give too! 😊

Love brother Dave. Such a powerful beautiful testimony. God is good.

I don't see how anyone can get by without an emergency fund. I was able to pay off $6k I owed on my car this past year, but then I also had my furnace repaired, my wife's car and my niece's car both had to be repaired, and my wife had expensive lab tests done on her at the doctor's. All this extra came out to $4600 on top of the $6k I paid on my car... despite that I still have $9k left in my savings

Having that fund is great. It allows such real relief knowing that the majority the truly bad problems you will eventually incur can be dealt with properly.

Emergency fund- Vehicle broke down. had an out of nowhere 800 dollar expense on my hands. However, no big deal. Kinda sucks, but it was just an inconvenience. I looked at my family mechanic and just said "alrighty then, let's get it fixed!" A few years ago it would have felt overwhelming. An emergency fund is a must. The security it provides and peace of mind that you will be okay is incredible.

a used compressor for $318? Dang, I changed my mom’s for $40. Granted I did watch how to do it on KZread. We are fortunate to be able to do that in these times. Don’t be afraid to look up something and fix it yourself. Definitely have your emergency fund! But learn to take care of some of the stuff yourself. I took the engine from my wife’s car apart once to fix something. Some mechanic quoted me 3k which is more than the car. I researched on KZread and took it apart following the steps. Turns out it was a $75 dollar fix. Nothing wrong with taking your car in if you are uncomfortable about doing it, but try to save some money by doing the easy things. Change your own brakes! It is so much easier than you would think! You get such a great sense of accomplishment too! Just don’t make things worse and use more of your fund to fix your mistake haha 😂

@TheRisky9

6 жыл бұрын

Adam Rickman I saved tons of money changing my own battery and filters in my car.

You’ve been there,and done that.Appreciate your honesty & advice Dave.👍🏼💪🏼🙏🏼

Thank You for everything Dave and people with messed up money problems 🤔😉

I own a 2007 Honda Element. Been driving it since 2010. I haven't had car payments since 2015. When emergencies came up I had problem paying it from th e money I had aside. You're right it does hit you emotionally because of the price. But if you ca buy the parts for cheaper and pay for labor, you save so much more money instead of giving it away. Tha k you for the video

I recently discovered this channel and this guy is so intelligent. His way of thinking is just like mine. I have 35k emergency fund and two paid off toyotas (2011 Rav and 2016 Highlander). Even though im in a healthy situation, I'm still a penny pincher. I never want my family to be tight with money and worrying about how we will pay for something. The key is to never splurge on unnecessary items and make sure ever month the bank account is going up

So broke he couldn't pay attention! lol

he is super right!!! we have two years of emergency fund !

@ladyoun4936

6 жыл бұрын

You have to be smart with money people! work hard Live below your mean! buy thighs as need! not want! and of course don't forget to give too! 😊😊

@Eoin_D

4 жыл бұрын

2 years should be invested

@RonJohn63

4 жыл бұрын

Out of curiosity, why two years instead of one year, or nine or even six months? (I'm *not* bashing you for having such a large E-fund.)

@ErrorPagenotFound-ig1cy

4 жыл бұрын

6 months MAX, the rest should be invested into your retirement 🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️

@RonJohn63

4 жыл бұрын

@@ErrorPagenotFound-ig1cy blanket statements like this are wrong, because not only do you not know OP's circumstances (OP or her SO might do contract work, with pay coming in big clumps, and then having to find new clients), or there might be medical problems which mean they can't work regularly. *Not to mention* that there's more to life than E-Funds and retirement...

I love these rants-they’re so true.

When Dave hears a story that involves someone's passing (as here) and says, "I'm so sorry," you know he means it. That's rare.

Another advantage that comes with having emergency savings is patience with aggressive sales pitches or civilly intimidating discourse.

Its so true.. no doubt u are completely correct dave.. ty

In the middle of Baby Step 3 now and more than halfway to my goal! Aiming to have this completed by Summer 2018. Even with the amount in there now, I'm feeling so less stressed and more at peace with both my finances and in life too! Love this plan and will NEVER go back to my old way to mishandling money!

I'm just getting started and this message is as real as real can get.

Sooooo Beautiful how you believed you were gonna be a Millionaire!!! It happened Dave!!! Congratulations 🎊🎉🎈

Thank you Dave Ramsey. 💯

Dave Ramsey hit me with that I will remember for you haha IM IN COLLEGE IM SO BROKE I CANT PAY ATTENTION Lol I was laughing dying over here

Thank you so much Dave. This has encouraged me to save my emergency fund even more.

The chain on my motor bike broke while I was riding it. I wasn't broke but I hated maintaining vehicles, but it did teach me a good lesson: Maintain your vehicle, it's important.

@Elizabeth-yg2mg

5 жыл бұрын

Yep--years ago I neglected to get my tires rotated, which is free, and wore a hole in one front tire due to poor alignment. Had to buy two tires, not just one, so that the car would drive smoothly. Was terribly broke at the time and never forgot that stupid mistake.

Thanks, for sharing Dave. I have emergency fund in place, You, right. I'm single and I want my future to be stress free and be allergic to Dedt. And I want to joy life I am living in now.👍

Thank you Dave 😊, you always give us great advice.

I wish I had this teaching 20 years ago but I get it now

Thanks you!🙏🏾