Dave Ramsey, a renowned financial adviser and best-selling author, has revealed the truth about money and the financial myths that keep people broke. In a viral TikTok video, Ramsey said that most people think that everyone else has it together, but the reality is that almost no one does. He also shared a shocking statistic: 78% of Americans are living paycheck to paycheck, meaning that they can’t afford the home they’re living in and the car they’re driving.
Dave Ramsey: A Trusted Voice on Money Matters
Dave Ramsey is a well-known figure in the personal finance world, with over 30 years of experience in helping people get out of debt and achieve financial freedom. Ramsey is the host of The Dave Ramsey Show, a nationally syndicated radio show and podcast that reaches over 18 million listeners every week. He is also the founder of Ramsey Solutions, a company that offers various products and services, such as books, courses, coaching, and events, to help people with their money problems.
Ramsey is famous for his simple and practical financial advice, which is based on biblical principles and common sense. He advocates for a debt-free lifestyle, and teaches people how to budget, save, invest, and give. He also created the 7 Baby Steps, a proven plan that guides people from being broke to building wealth. The 7 Baby Steps are:
- Save $1,000 for a starter emergency fund.
- Pay off all debt (except the house) using the debt snowball method.
- Save 3 to 6 months of expenses for a fully funded emergency fund.
- Invest 15% of your income for retirement.
- Save for your children’s college education.
- Pay off your home early.
- Build wealth and give generously.
Ramsey’s advice has helped millions of people change their financial situation and live a better life. He has sold over 11 million books, including the New York Times bestsellers The Total Money Makeover, Financial Peace, and Smart Money Smart Kids. He has also received numerous awards and recognitions, such as the National Association of Broadcasters Marconi Award, the Radio Hall of Fame induction, and the EntreLeadership Summit Lifetime Achievement Award.
Dave Ramsey: A Truth-Teller on Financial Myths
In his latest TikTok video, Ramsey exposed the truth about money and the financial myths that keep people broke. He said:
The big myth about money is that everybody thinks everybody else has got it together and the truth is almost no one does.
He explained that most people are living beyond their means, and are trapped in a cycle of debt and stress. He said:
78% of Americans are living paycheck to paycheck. Basically, that means almost 8 out of 10 people probably can’t afford the home they’re living in and the car they’re driving. They might not even have the cash to cover the next emergency that pops up.
He added that people’s income is their most important wealth-building tool, and that when their money is tied up in monthly payments, they are working hard to make everyone else rich. He said:
Your income is your most important wealth-building tool. And when your money is tied up in monthly payments, you’re working hard to make everyone else rich.
He urged people to stop believing the lies that society tells them about money, and to start living on less than they make, saving and investing for the future, and giving generously to others. He said:
Don’t buy into the myth that you have to keep up with the Joneses. They’re broke. You can do better. You can live like no one else, so later you can live and give like no one else.
Dave Ramsey: A Leader in the Financial Education Movement
Ramsey’s video has received over 2.5 million views, 400,000 likes, and 10,000 comments, as of March 6, 2024. Many viewers expressed their appreciation for Ramsey’s advice, and shared their own stories of how they followed his plan and achieved financial success. Some of the comments are:
- Thank you Dave! You changed our lives. We paid off $120,000 in 3 years and are now debt-free except the house. We are on baby step 6 and can’t wait to be mortgage-free too!
- Dave Ramsey is the real deal. I was $50,000 in debt and living paycheck to paycheck. I started listening to his show and reading his books, and followed his 7 baby steps. Now I’m debt-free, have a fully funded emergency fund, and am investing for retirement. Thank you Dave!
- I wish I had listened to Dave Ramsey sooner. I was living the high life, with a big house, a fancy car, and a lot of stuff. But I was also drowning in debt and had no savings. I hit rock bottom when I lost my job and had to file for bankruptcy. Then I discovered Dave Ramsey and his 7 baby steps. I followed his plan and worked hard to get out of debt and build wealth. Now I’m debt-free, have a modest home and a reliable car, and am giving generously to others. Dave Ramsey saved my life!
Ramsey’s video is part of his ongoing effort to spread financial education and awareness to the masses. He has been using various platforms, such as radio, podcast, books, courses, events, and social media, to reach and teach people about money. He has also partnered with various organizations, such as churches, schools, businesses, and nonprofits, to provide financial literacy and coaching to their members and employees.
Ramsey’s mission is to help people take control of their money and live a life of financial peace. He believes that money is not just about numbers, but about behavior and emotions. He said:
Money is 80% behavior and only 20% head knowledge. It’s not rocket science. It’s common sense. But it’s not always easy. It takes discipline, sacrifice, and hard work. But it’s worth it. Because when you have financial peace, you have more than enough.