PAY CASH! SAVE MONEY! DON'T BORROW!
I've followed that advice and am pretty happy right now. I've done a little premature bottom feeding in the market and am debating about doing some more. I'm doing it with cash. Meanwhile, nearly the entire world is drowning in debt. I wish Dave was running for President. Here's what he had to say recently about the financial crisis.
(Y)ou want Obama or McCain to fix things. There has never been a president who can fix your problems. They always say they can and they never can.I would bet that Sarah Palin is the only one of the four candidates for president or vice president who even thinks in these terms.
YOU are in charge of your destiny. YOU are in charge of your life. When you look to Washington to solve your problems, we've got the seeds to destroy this country. It's time for you to change your life. It's not Washington's job to fix what's going on with you. If you are waiting on Washington to change something, you've got a very long wait! It is YOUR job to take care of you. Don't sit around and watch TV and panic and think you can't do anything. I've made and lost money, and every bit of that had to do with me being smart and diligent or stupid.
Quit blaming Congress or looking to them to fix you. YOU have to fix you! When you wait on the government to fix your life and wait for money to be taken from others and given to you, that's a spirit of envy. The only system that works is capitalism functioning under moral restraint.
It's very true. My wife and I have been cleaning up our finances and living on a budget for about a year now under Ramsey's guidance. You know what? We aren't freaking out about this crisis like some are. You can definitely tell who has things under control by who is freaking out ;P.
ReplyDeleteI'm not freaking out, either. Of course, I just did a tiny bit more bottom feeding in the market and got spanked again.
ReplyDeleteOwie!
:-)
I love Dave Ramsey! My family always followed the principles he advocates even before we discovered him, but we still listen for fun. Unfortunately, school prevents me from listening to him much except for when I'm home.
ReplyDeletePeople are always shocked when my mom tells them how little we live on (she makes under $10,000 total most years), but it's really not that hard when you're not in debt (we have the mortgage, and that's it) and you pay attention to how you spend your money. Actually, taxes are by far the largest expense for us--the property taxes alone are bigger than the mortgage.
"Personal responsibility".... what are you some sort of subversive?
ReplyDeleteKT, I've invented a new work in your honor: "prudiciousness".
ReplyDeleteLink forthcoming!