![]() ![]() The borrower truly is slave to the lender. If you wouldn’t want your mother to buy the item or the service then don’t sell it.īroke people giving financial advice is like a shop teacher with missing fingers.ĭebt is not a tool it is a method to make banks wealthy, not you. Rich isn’t an amount of money, it’s a mindset about how you live. People will not buy from you if they don’t trust you, your product, and your company. Know why? Cause it is going to rain, and you aren’t the exception. Save 3-6 months of expenses in a Rainy Day fund. I tell everyone never to take more than a fifteen-year fixed-rate loan, and never have a payment of over 25 percent of your take-home pay. Someone who never has fun with money misses the point. It’s just as important as life insurance. The goal is to not be normal, because as my radio listeners know, normal is broke.ĭisability insurance protects you and your family if you are unable to work by providing income which will help pay your bills and take care of your family. Winning at money is 80 percent behavior and 20 percent head knowledge. If I can control the guy in the mirror, I can be skinny and rich. ![]() Most of us know what to do, but we just don’t do it. ![]() What to do isn’t the problem doing it is. When something is wrong, stand up and say it is wrong, and don’t back down. Someone who never invests money will never have any.įor your own good, for the good of your family and your future, grow a backbone. Pray like it all depends on God, but work like it all depends on you. Being ready with a savings fund reduces the worry of what will happen in an emergency.ĭave accepts that making the changes needed to follow a plan like his will be difficult, but he urges people not to be put off by short-term pain in pursuit of a desirable long-term goal. Saving in this way is vital if you are to stand any chance of getting debt-free. Dave suggests that you create an emergency fund of at least $1000. Unexpected expenses can be a killer if you are not prepared. Knowing where every dollar goes helps when you are faced with extra expenses. With this complete information, you will be able to stay on top of your finances. At the same time, total all of your income. List all your expenses and then keep track of them day by day. He recommends that you draw up a household budget every month. Having a higher income means you can put more away for retirement or pay some debts off more quickly.ĭave Ramsey is a firm believer in the power of budgeting. Even when you are receiving a more substantial salary, do not be complacent and think you have solved your problems. You will only do that by earning more money. Dave does say that cutting expenditure is good, but it will not solve your problems permanently. A short period of hard work and single-minded application to the mending of your finances will bring freedom from financial worry for the rest of your life.Īs you clear the pitfalls from your finances, so you will be able to concentrate on making more money. Don’t throw it away by being discouraged or diverted from your path. Every step is getting you nearer your goal of financial freedom. Millions have benefitted by following his Baby Steps route.ĭave Ramsey clearly states that once you start on a program of combatting debt and achieving financial safety, do not give up. From what he learned, he developed a program for financial security that he dubbed Financial Peace University. He vowed to learn all he could about personal finance, about debt, and to talk to successful people about their approach to money. Consequently, he decided to gain the knowledge to help himself and then to help others. ![]() He experienced financial problems himself. Instead of struggling alone, it is much better if you can call on help from an expert.ĭave Ramsey is an expert in personal finance and can be relied on to help you sort your money worries. Putting our finances in order and feeling financially secure is a goal for many of us. Money is a cause of stress, marital disharmony, and family feuds. There are few things in life more worrying than not being able to pay your bills. Almost all of us will have faced financial insecurity at some time in our lives. ![]()
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