Dave Ramsey is a personal finance expert, author, and radio host with a focus on debt reduction and wealth building. His company provides a range of products and programs designed to help individuals and families achieve financial freedom.
Started as a real estate investor and mortgage banker in the 1980s.
Founded The Lampo Group in 1992 to provide financial counseling and education.
Began The Dave Ramsey Show radio program in 1992, now syndicated in over 600 stations.
Published his first book, 'Financial Peace,' in 1997.
Launched Financial Peace University, a nine-week personal finance course, in 2003.
Expanded his brand to include podcasts, a YouTube channel, and a digital content platform, Ramsey+.
Personal finance expert and author with a focus on women and retirement planning.
Consumer advocate and radio host with a focus on saving money and avoiding scams.
Motivational speaker and self-help author with a focus on personal finance and success.
A nine-week course that teaches practical financial skills and strategies.
A book that outlines Dave's seven-step plan for getting out of debt and building wealth.
A subscription-based platform that provides access to Dave's courses, tools, and community.
The debt snowball method is a debt reduction strategy that involves paying off debts in order of smallest to largest balance, regardless of interest rate. The idea is that the small wins of paying off a debt quickly can provide motivation to continue working towards becoming debt-free.
No, Dave Ramsey does not recommend using credit cards. He believes that credit cards can encourage overspending and trap people in a cycle of debt. Instead, he recommends using a debit card or cash for purchases and building an emergency fund to cover unexpected expenses.
A sinking fund is a savings account set aside for a specific purpose, such as a vacation, car repair, or holiday shopping. Sinking funds are a way to plan for expenses that don't occur regularly without having to dip into emergency savings or rely on credit.
The main difference between a Roth IRA and a traditional IRA is when taxes are paid. With a traditional IRA, contributions may be tax-deductible and taxes are paid when withdrawals are made in retirement. With a Roth IRA, contributions are made with after-tax dollars and withdrawals in retirement are tax-free.
To start budgeting, Dave Ramsey recommends tracking your spending for a month and categorizing your expenses. Then, create a budget by allocating your income towards each category, starting with the essentials like housing, transportation, and food. Finally, track your spending and adjust your budget as necessary to stay on track towards your financial goals.