For when you need a little nudge to get back on track with your finances
Dave Ramsey is one of the most inspirational Americans out there. A radio show host and businessman, Ramsey began to learn about money after he lost everything. Dave Ramsey’s quotes have something in them for everyone, whether you already feel as if you’re in control of your money or not, and ideally this will serve as inspiration for those downer financial moments we all experience.
If you will live like no one else today, later you can live like no one else.”
Dave Ramsey cuts to the chase: in order to live big in retirement, it is imperative that one live small, now. If, instead, one succumbs and spends like those around them, buying into the fallacy that everyone needs a house, two cars, three kids, etc. then you will be living exactly like those same people when you’re older.
This mindset is important to keep in mind, though, since living like no one else can feel isolating but as Dave Ramsey says, it’s integral if one wants to live like no one else later in life, with more wealth and savings and less debt.
But, heeding Ramsey’s advice is a more prudent way to live, especially given that economic circumstances over the past decade and a half have meant that many people are not hitting the “milestones” they’re supposed to have reached (from millennials buying fewer homes to student debt rising, etc.).
Debt gives you the ability to look like you’re winning when you’re not.”
This is one people often forget: a friend’s beautiful home or lifestyle may hide a pool of debt. As such, it’s important to keep this at the forefront of one’s mind since debt allows you to spend the money you earn but in reality, that money belongs to the bank, so at the end of the day, you’re not actually winning.
Those who don’t manage their money will always work for those who do.”
Another harsh truth: learn to manage your money. It can be daunting to learn personal finance skills, but it is crucial if you want to climb the ladder and truly build wealth. Many of OnJuno’s guides can help get you started, from budgeting to investing, building credit, and learning more about 401(k)s.
If you help enough people, you don’t have to worry about money.”
This is gold and often, in the rush to earn more so you can invest more, it becomes easy to forget that life ultimately comes down to human connections. By surrounding yourself with good people, and being a good person yourself who helps others, you will always have others to rely on in your times of need even if you don’t have money.
Change is painful. Few people have the courage to seek out change. Most people won’t change until the pain of where they are exceeds the pain of change.”
What makes Dave Ramsey so popular is that his advice isn’t solely focused on personal finance. But, even quotes like this nevertheless emphasize how fixed in their ways people can be, whether with an older budget or spending habits they don’t want to break and change.
It often takes a catalyst for people to change, but Ramsey pushes his listeners to embrace the painfulness of change and take control of their life instead of waiting for that external source.
Study the habits of the people you want to be like and then imitate them. If they are succeeding, they must be doing something right.”
Ramsey often encourages people to look to their idols and really get to know them better. While it seems like the habits of successful people, celebrities, or billionaires have become trite—from waking up at 4am to owning just two pairs of jeans—Ramsey nevertheless has a point.
Ultimately, while emulating the lifestyle of the rich and famous can’t get you there instantaneously, those methods of living do say something important about “acting that wage,” so to speak, and can enable you to bolster your net worth, too.
A budget is telling your money where to go instead of wondering where it went.”
Work is doing it. Discipline is doing it every day. Diligence is doing it well every day.”
We often get stuck on discipline—how we can cultivate it, if a New Year’s resolution will do the trick, etc.—but Dave Ramsey encourages us to strive for diligence. While discipline is essential, and certainly a starting point, success cannot come without diligence, or truly putting your best foot forward every single day.
Fun can be bought with money, but happiness cannot.”
Adulthood is all about learning the difference between “fun” and “happiness.” While short-term gratification can come at the expense of money—an expensive class or purchasing a new car—true happiness doesn’t stem from mere cash-flow.
Ramsey encourages us to find the difference between these in our lives and stick to spending less on “fun” and more on long-term happiness.
It is human nature to want it and want it now; it is also a sign of immaturity. Being willing to delay pleasure for a greater result is a sign of maturity.”
This quote by Ramsey fits in well with the concept of “fun” versus “happiness”, too, as immediate gratification is short-lived and typically falls into the “fun” category, i.e., costing money.
However, saving up for an experience or delaying buying an item, whether to determine if you really want it or to spend that amount during a month with fewer expenses, is a sign of maturity and intentionality, both, as you are taking control of your spending versus allowing your spending to control you.
Keertana Anandraj is a recent college grad living in San Francisco. When she isn’t conducting international macroeconomic research at her day job, you can find her in the spin room or planning her next adventure.
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