Dave Ramsey - Our Favorite (Personal Finance) Financial Guru
We all have unique gifts that help drive our business to the next level. Whether it’s entrepreneurial, organizational, or being a great maker, our gifts matter. They help shape and define us as people.
What I love about the Ramsey network is that no matter where you are in life, his books, broadcasts and stories assume that 1) we all have gifts and 2) we are each our own work in progress.
Dave and his team seem to only offer financial services and products that equip, coach and support everyone. That means he has tools for the college graduate still searching for a career path annnnd the baby-boomer looking to find their retirement sweet spot. And that’s an amazing span of people. Now is probably is THE BEST time in history to start listening to Uncle Dave’s show.
Did I mention he and his daughter, Ramsey personality Rachel Cruz wrote a book and developed tools for kids?
Anyone can learn something on the Dave Ramsey plan.
Ultimately, the Ramsey group of products help leverage each part of our life - from financial to spiritual to emotional - and pulls them together to help us become better people.
That’s partly why we at Caffeine offer the services we do - to help people because they matter.
We don’t want you to just achieve a great marketing strategy, we want that strategy to be something that relieves stress and brings you peace of mind.
From personal experience, we believe Dave’s products can do the same thing for your life.
Here are some of my favorite products his team offers:
Financial Peace University
FPU brings together a collection of teachings on personal finance. The weeks-long class helps us understand spending and saving behaviors so we can set goals, get rid of debt, and grow wealth. Many of us took this course in a high school economics class, but we can’t leave those lessons behind just because we’re graduated and fully into our careers.
Dave says it over and over. Many, many millionaires had low GPAs in college. They just used grandma’s ways of budgeting and got rich slowly over the span of a lifetime.
You can’t be too smart to make dumb financial decisions. That’s because often with money it’s not about our smarts, it’s about our heart. This class steps into our financial life (no matter how clean or messy) and teaches us the wisdom and skills it takes to build wealth.
The Ramsey Network provides many live events throughout the year and you’re invited! The Financial Peace Live! event is based on the FPU experience and there’s a couple more in 2019 to be a part of.
Business Boutique by Christy Wright
Can I just say this book is incredible?! There were so many take-aways, but the key for me is that making money is a good thing. It’s weird, but as a younger person living in the south, I believed this lie that making money was a bad thing. I believed that “Money is the root of all evil”. That was my mentality and I even thought it was a proverb in my own religion, but it is not.
That is a wrong and confusing way of thinking.
Reading this book helped me uncover the truth about making money. I learned that using my gifts to help bring in the most income possible for my family while still making family a priority is a good thing. In general, all of that is hard to do at once.
This book gave me practical steps to help organize my life, make more money and pursue my passions.
Now this is one of the most amazing budgeting tools around. This app was built to reflect a written budget or spreadsheet system. It is easy to use and remembers your planned income and expenses from the previous month.
To get the most out of this app - and you end up paying for this feature - you connect your bank account to it. That way your expenses show up as almost instant transactions in the app. Then, all you have to do is drag and drop that transaction into your correct line item. And boom, you’ve just tracked your expenses for the day.
It’s probably because I know this company cares about me as a person that I feel safe using this software. The IT security just seems solid to me. If I ever need a solution, they’re always prompt to answer.
But more than that, Every Dollar helped me stop my bad money habits. I saw what I was spending, what I wanted to change and made those changes accordingly. Trust me. If my husband and I can budget with relatively low margin, anyone can.
Anthony O’Neal is a Ramsey personality with a focus on the younger demographic. Suffice it to say his videos give the FPU principals some much needed swagger. He focuses on helping teens and college kids make wise money decisions. He’s essentially a YouTuber + speaker + hero to the young people seeking answers to their financial questions. While he does teach the same principals as Dave Ramsey, his coaching topics and style are unique to the youths. Oh, and Anthony O’Neal is a writer. He just released another book, called Debt Free Degree. It helps parents walk through setting up a college fund for their children. The title of that book pretty much pinpoints his sweet spot on the team. Namely, he works to help high school and college age young people stay away from life ruining financial decisions. Part of his financial and spiritual life testimony is that he ended up living in his car in college. Based on first hand experience, he can break down the problems with car leasing, credit card debt and student loans. He doesn’t want anyone to be in that place. Listening and watching him feels like your learning from an older brother or young uncle. It’s practical, helpful knowledge that is sure to keep any student walking the straight and narrow financially.
Last, but not least - The Dave Ramsey Show Podcast
The Dave Ramsey Show Podcast is a 40-minute, condensed version of the daily, 3-hour radio show, which I also love.
Here are just a few reasons I love the podcast.
Apple podcasts are just easier. It might sound obvious, but that took me of a year plus of listening to figure out. If you prefer to watch the show live production in it’s entirety (like I did), you can watch it on YouTube. In fact, that’s the only way I would get it at first. In my head, watching the live video version just adds so much adds value to the show. The video/audio quality is essentially on par with any news room show on TV.
Pretty quickly I learned how hard it was to access the YouTube versions of the three-hour-long show without wifi. I had to have time. I had to have data. I had to have battery life on my phone. And of course, ain’t nobody got time for that… I mean, I used to stream the full show on YouTube from my phone - even in my car! Now, for the sake of my cellular budget and just time, I typically download and listen to the podcast in the car on my daily commute.
And it’s been a much better method of consumption.
2) Consistency - Production AND Content
If you can’t tell by now, it’s safe to say I constantly find myself obsessing over the Dave Ramsey Podcast. Out of all the products, the daily show is the main driver that brings me back for more. I could be wrong and I’ve never met the man, but I think the radio show part of Dave’s work is his favorite. Sure, he might get worn out by getting the same calls over and over. And sure, he might need a break every now and then. But you can just tell this man was made for radio.
After so many years, he’s definitely figured out what works.
Side note — We all have a product or service that is our favorite, our original, our go-to. It’s the one we love to sell and the one we love to use ourselves. Ours is simple - we love to help people with their social media marketing. Interested in learning more about our services, click caffeine.marketing/services.
The show itself is pretty juicy. Mostly, the lives of the people that call into the show are each kind of a train wreck. And the cynic in me just has fun listening to people’s stupid. Then, just as I’m listening to a caller talk about their debt, a record scratch screeches in the background of my life. And I think: Wait, that’s me talking to Dave or that’s someone in my family or that could’ve been me.
People call in with their stories, issues and wins, and it’s just a wake up call and motivator for me to change.
The podcast goes like this:
1) Intro music comes up.
2) Dave gives the same opening intro he’s been giving for years.
3) Dave introduces the first caller to the show.
4) The caller says, “Thanks for taking my call” and they ask Dave how he’s doing.
5) Dave says, “Better than I deserve. How I can help?”
6) He and the caller discuss an issue and chat about any opportunities for changes.
7) Between short commercials and Dave rants, steps 3-6 get repeated until the next 35 minutes are up.
8) I get a Bible verse of encouragment.
9) There’s another phone call or two.
10) Finally, the outro music starts and end credits play.
And I’ve got to say, I love knowing what comes next.
If you listen to The Dave Ramsey Show podcast, you’re going to get great content all the time. You’re going to learn to be generous, to be frugal and to be just a generally healthier person. It’s easy to become those things when you’re listening to the same person/team give the same advice based on the same basic principals (FPU) over and over and over again.
Have you ever found yourself going to the same person for advice? Maybe it’s your sister that you turn too. Or, maybe it’s your best friend or your neighbor. Whenever you struggle in a new area, no matter what the situation, that same person is always there. They want to help you because they know and love you no matter what.
That’s kind of how Uncle Dave is toward many callers on the show. Yes, he has in the past been known for being too un-emotional toward callers. But I’ve noticed a change in him, especially recently.
For example, a widow of 2 months recently called asking if she should go back to work when she wanted to quit. She had all the retirement money she could need, but just needed direction. Instead of telling her to just leave her job because she had the money (fixing her physical/financial problem), Dave asked her about her spouse (her emotional problem). Man, I felt that. It hit right in the feels and I think spoke to a lot of listeners. Eventually, he did give her financial advice, but only after giving her a more important type of counsel - empathy.
If you’ve listen to him recently, more than likely you’ve heard a wide range of emotions from the show. He knows how to help and what to say because he’s been there himself. He was at some point early on broke and broken hearted over his stupid financial decisions. And he doesn’t want to be there again nor does he want you to ever be there.
Content-wise, I love knowing that in no matter what situation a caller is in, Dave is going to offer consistently wise and helpful advise. All because he wants us to be successful.
Here are 10 honest lessons I continue to get from the podcast on repeat:
1. To deny yourself of short-term pleasures for the long-term reward is 100% worth it for financial freedom.
2. Proverbs is the best book of the Bible (joke intended). In it we find Dave's favorite line, The borrower is slave to the lender.
3. Don't get happiness and fun confused. What might be fun won't always make you happy. And what might make you happy won’t always be fun.
4. The debt snowball method used to pay off debt only works when paying off debts smallest to largest - regardless of interest rate. The debt snowball is Step Two in Dave’s Baby Steps plan (see #10 below) and it doesn’t include your mortgage loan.
5. Bad partnerships and toxic contracts can lead to a failing business. But “in the multitude counselors there is safety”.
6. You can pause your debt snowball in certain circumstances. For example, you wouldn’t want to be going hard on your snowball while changing jobs or during pregnancy. Those are times to take your foot off the gas and make sure your health and survival are prioritized.
7. If you want to change, just change. We don’t have to let a family cycle of bad decisions based in consumerism culture take utter control over us. We can break the family cycle of bad financial decisions just by making different ones - starting today.
8. Home selling is better 1) with a great real estate agent and 2) a ChurchHill Mortgage refi to 15 years. ;)
9. Just because your lender is family doesn’t mean that’s a better debt situation. It just means Thanksgiving dinner is going to taste different.
10. Most importantly, follow The Baby Steps, Dave’s proven plan for financial peace. For starters, in Step One we learn that emergency funds are a good thing and a quite literal pivotal first step to begin paying cash for every bills and expenses. Without initially saving money just for emergencies, you'll end up spending food and gas money on a new bumper. Been there, done that. Won't do it again.
This are lessons you’ll hear on repeat with Dave Ramsey as your guide. But friend, though their tough love lessons, they will change your life! It’s time to live the life you were always meant to live.
It may be hard to hear and it may be hard to do. But what Dave expects is what Dave expects. It’s honest, it’s tough and it’s rewarding. And he knows it. That kind of consistency is the hardest to come by in a friend because it involves so much work on the their part. Once you get a taste for it and found it helpful in your life, you won’t want to turn back.
I’ve learned a lot from the Ramsey solutions podcast, the callers, the other listeners, etc. From financial lessons to personal relationship issues - their products have helped me tremendously.
Often, though, it’s more than just what they’re said that helps me to change. It’s what they do as a company that gives me an example of how to live that leads to the best growth.For example, we can learn from the excellence Entreprenuer Dave requires from his team.
It’s more than good work he requires. He wants his people to be good people.
Often, we hire people too easily. This is the antithesis of what Dave does with his HR. He runs his people through rounds and rounds and rounds and rounds of interviews. I’ve heard it said that the person who works for Ramsey Solutions should literally be crying from the passion they feel surrounding the role they want. How an employee wants to serve their team - not what they want to do for themselves - makes all the difference.
If you want to learn a few of our secrets for hiring great people, read 5 Secrets to Hiring Great People.
Oh, and as if they weren’t cool enough, Dave and his company of 650+ team members just moved into a brand new building. And the energy is thick. Now is probably is THE BEST time in history to start listening to Uncle Dave’s show. It’s time, people.
Ultimately, buying Ramsey tools is an investment in our health / well-being / financial future that we in the marketplace can all take advantage of.
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