On a video posted on The Ramsey Show – Highlights YouTube channel in 2019, Dave Ramsey ranted to his viewers that things he teaches is “proven” and “not a theory”. Responding to his critics that disagree with his methods on social media, he explained the steps to take that will help people “win with money 100 percent of the time” and become wealthy.
He pointed out everyone has different incomes, and financial tragedies, and winning with money is different for every person, however if people follow these steps, they will eventually become “wealthy”.
1. Have a planThe first thing he mentions is having a “a written plan, a budget.”
He said: “No one accidentally wins at anything, and you’re not the exception.
“You have to do a written game plan with money or you’re going to lose.”
The money saving expert said: “The most powerful wealth building tool is your income and when you spend your whole life giving it to banks it makes you stupid.
“When you don’t have any payments, you have money.
“I don’t care if you don’t agree with me.
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He said: “There’s no reason for you to be stuck somewhere. Don’t be stagnant.
“You need to go be somebody.
“You need to decide that my life is not good enough the way it is, and I’m going to control it, I will change some things.
“No one will fix your life. You will fix your life.”
4. InvestMr Ramsey went onto discuss how investing can be valuable.
Mr Ramsey said: “Rich people get rich by saving money.”
He argued: “You will be broke unless you learn how to save money.”
For those people who don’t agree with his investment suggestions, he said: “You need to get off your assumption and start investing.
“100 percent of the people that build money, save money on purpose, a lot.
“They do it wisely with mutual funds that outperform the SNP, or real estate they pay cash for, that outperforms the SNP.”
He urged people to invest money and save money.
Mr Ramsey explained people can do this by making a plan. This will help people with getting out of debt as they will learn how to live on less than they make in order to make money in the budget and save that.
5. GenerosityMr Ramsey concluded that if people can take into account his insight, and follow these steps, they can them become “outrageously generous”.
He said: “Broke people can’t do that because they sit around discussing their investment philosophies while they invest nothing.
“Get off your assumptions and go and do something.”Internet Explorer Channel Network