5 Rules To Manage Your Money Like The Rich — Dave Ramsey

so let's talk about the five things that the bible says we should do with money now there's a whole bunch of them but if you do these five over a couple decades a hundred percent of the time you will get results that will blow your everlasting mind a hundred percent of the time because let me just tell you if you plant corn don't be shocked if corn grows as you sow so shall you reap if you plant nothing and wait on the government don't be surprised if you have mud this is how it works you are in charge of planting and this is how we do it the first thing is you get on a written plan we call it a budget in the financial world don't build a tower without first counting the cost lest you get halfway up and you're unable to finish and all who see you begin to mock you and say this man began to build and was unable to finish don't build a tower without first cutting the cost my friend zig ziglar used to say if you aim at nothing you will hit it every time my friend john maxwell says a budget is people telling their money what to do instead of wondering where it went winning is an intentional act when the super bowl is over and the little reporter runs over and says how did you win the guy never goes i don't know i just got off the bus and this thing happened getting to the super bowl is an intentional act over decades of developing your skill no one accidentally grows a bumper crop unless it's weeds no one so plant something control the process control the controllables write it down this is my plan i'm gonna take care of my own household first and we're gonna live this plan out and we're gonna do this thing it changes everything the second thing is you need to get out of debt now we knew dave ramsey was gonna say this that's a fairly predictable thing coming out of my mouth but here's the deal the borrower really is slave to the lender the ritual's over the poor and the borrower is slave to the lender i've experienced that i lost everything because i let other people have control over my life you know what that's called a master well dave i don't know if i agree with all your theories about debt it's america you have the right to be wrong my old pastor used to say a man with an experience is not at the mercy of a man with an opinion i've led more people out of debt and into wealth than anybody breathing on the planet today and i'm not bragging i just showed them how to do it and so we're going to get out of that because it's no fun trying to be married like this right this is crazy you guys we're walking through our lives where all the money comes in all the money goes out and only the names are changed to protect the innocent we make tons of money and we have none and we can't figure out why i know why you gave it all to a financial system that's designed to take it from you you surrendered it and we've got to stop so i quit borrowing money period for anything for any reason and this weird thing happened when i didn't have any payments and i made an income i had money it was so strange and then when i got money and i bought an asset that created income that i paid cash for i got to keep all that there was no payment except for what the government takes but i mean there was no payment it was an amazing experience and the first few years were tough because you know there's stuff i wanted to do and i didn't have the money and i had to learn this magic ancient word called no most people don't know this word you press your tongue towards the roof of your mouth you release air no it's tough so you know what i did was we got the scissors out and we said no more i'm not going to play you guys game anymore you don't have any credit cards no not for 38 years well 30 years that's when i went bankrupt they wouldn't give me one at first and then later after they would give me i didn't want it because i had learned this stuff from the bible and this is my wallet green president's faces four pieces of plastic my debit card on my business my debit card for my home my driver's license and my handgun carry permit i had a guy call me on the radio and he's like you're going to kill me my truck payment i said how much is your truck payment 763 dollars you have a 700 truck payment yeah i said how much is your house payment i live in a double-wide 550. i said dude if your truck payment is bigger than your house payment you might be a redneck the borrower is slave to the lender you got to sell that truck dude it don't you you don't own it it sounded good at the time and you and i both know the reason you called me is you just wanted somebody else to say it out loud with you who's also done stupid because i know what stupid looks like son that's stupid that truck's got to go you're saying i got to sell my truck what'd you just say of course i said you sell your truck thing owns you man this is crazy get you a truck that you can own instead of it owns you this is just crazy the third one surprises people and that's foster high quality relationships the bible says be not deceived evil company corrupts good habits did you know you become who you hang around with studies say that your 10 closest friends over the next decade your income will be within 10 to 15 percent of the average of your 10 closest friends and some of you're going i need some new friends well maybe i mean you don't let your little son your little johnny run around with a weed head down the street because you know if you do he's going to turn into a wheat head right he comes home talking language we don't talk in our house you go where'd you pick that up because you didn't pick it up in here you become who you hang around with be not deceived evil company corrupts good habits so hang out with generous people and you will be generous people hang out with people who treat their wives with respect men and you will find men who treat their wives with respect and you'll start treating yours that way it's an amazing thing that happens it's a weird thing that happens so choose carefully i'm not talking about being nice to someone or snubbing other people i'm nice to anybody i love people i love people that are wrong even i love people okay but i'm talking about my crew the men in my life that shape my language the men in my life that impact my spiritual wealth my generosity my thinking in business and my acumen who are the men in my life that are doing that ladies the same thing for you you're going to become who you hung around with the next one is save and invest see if you don't have any payments and you've got a plan the first thing you're going to want to do is save and invest because in the house of the wise or stores of choice food and oil and the rest of that proverb says and a foolish man devours all he has if you spend everything you make biblically speaking you're a fool but i have been a fool big red arrow fool fool i know what being a fool feels like it feels like being broke because i spent everything i made because i've always been able to make money i just weren't able to keep it i always thought i could out earn my stupidity and i tried it for a long time it doesn't work save and invest we're saving for an emergency fund first save three to six months to get ready for maybe something like a rainy day right man i mean what if you had no payments and a big twenty thousand dollar emergency fund in 2020 happen or what if you had twenty thousand dollars in payments and no money for emergencies in 2020 happen do you have two different results the answer is yes in the house of the wise our stores of choice food and oil and then that leads you to the position to be incredibly outrageously generous it's hard to be generous when you're broke you can be generous to smile and open the door for somebody but i'm talking about writing a check to feed hungry babies i'm talking about buying a single mama car i'm talking about you can reach over and pay somebody who's struggling like bill through the end of the year i'm talking about outrageous even sometimes spontaneous generosity and you can do that if you're not broke and you've got your stuff taken care of at home if my life bill is paid i can help somebody if i'm still threatened over here i don't even see them so i want you to try this next time there's a holiday maybe easter or thanksgiving or something like that and you're driving to grandma's house with the kids now you're gonna go have a big feast that day but on the way i want you to do something crazy i want you to stop at the waffle house leave the kids in the car motor running pull up in front of the window so you can see inside and the people in your car can see inside i want you go inside by yourself leave them out there they'll be around their mouth anyway kids put the screens down watch this go in there have a cup of coffee at the counter she'll come to the counter she'll pour your coffee this is thanksgiving morning and he's working on thanksgiving morning at waffle house pay for your coffee and i want you to take three or four of these uncle benjamin franklin pictures hundred dollar bills and i want you to slide them on the cup and slip out go out in the car tell the kids hey watch god work watch what god does when he shows off she'll come over she'll pick that stuff up and she'll look at it she wonders if it's a trick because in her life it's been so long since anything good has happened to her and then when she realizes it's real and a hundred percent of the time after she does this she'll go thank you and then she looks one more time when she realizes no one's looking and she has no idea there's a family with a six-year-old sitting in a van watching her inside whose dad or mom just pulled this idea off a six-year-old's life is being permanently changed while he watches this then she goes into and does a snoopy dance because that's the whole difference in her month now i want you to go spend 300 with your spouse on a really nice night out and enjoy yourself i want you to learn to enjoy money but i dare you to have more fun with 300 bucks than that so to the extent you're not outrageously generous because you're in debt and haven't saved money you're not on a plan and you hang out with selfish people who are worried about their instagram photo any one of those five things that's not there or any five of those five things is not there it's time for all of us to get a little better and [Music] change

Channel: FREENVESTING

Views: 385,865

Keywords: freenvesting, free investing, how to properly manage your money like the rich, how to properly manage your money, how to manage your money, how to handle money, how to handle money wisely, how to take hold of your money, how to manage money, how to manage money and become rich, how to get rich, dave ramsey, dave ramsey baby steps, dave ramsey investing, dave ramsey rant, dave ramsey how to budget, dave ramsey rules, the ramsey show, how to take hold of your money dave ramsey

Id: smHfMKdXU00

Length: 9min 52sec (592 seconds)

Published: Thu Feb 17 2022