What Makes Poor People Poor? - Special Segment
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I grew up mostly in McDowell County, West Virginia. Both of my parents were (and still are) on welfare, receiving food stamps, disability checks, clothing vouchers, medicare, etc. I attribute their financial situation to sheer laziness. My dad was an electrical engineer for a coal mines but was in a motorcycle wreck when I was two (I'm 32 now). He found out that he could get disability for that and has been living off the government ever since. Same story with my mom and unfortunately, that pattern has repeated itself in my sister, who's almost 31 and living off the government when she's not in jail for drugs. I, however, decided when I was kid that I didn't want that life. I left home when I turned 18 and by the time I was 28, I had served 6yrs in the US Army and was earning a six-figure income as a software engineer. Situation and circumstances don't determine your future, your choices do. The whole "product of your environment" mindset is complete malarkey. So, if I were to comment as to why I think people are poor, I would attribute it to their choices. Circumstances are temporary. Adversity is a challenge. The only thing permanent is death. Trust in God, make good choices, and WORK for what you want.
The Dave Ramsey Show he's laughter though lol he's like hehehehe :)
The Dave Ramsey Show Thank you soooo much Dave gor saving my life!!! it's finally hit home for me about cars and their real value. Would really love to meet you in person one day soon....to thank you in person. God bless and keep up the good work!! I love you brother!! Thanks again!!
Thank you for clearing it up, It's very much "why" and "what it does" education rather than "how".
You hear all day from other poor people telling you how to be rich, and if they knew why wouldn't they do it?
So the "how" doesn't matter, everybody knows how but why listen to anybody? They all say the same stuff and some are rich and some are poor!
I don't know, that was my problem anyway. Once I got a good "why", then I could approach the "how" with a whole new perspective, and that's what changed my life.
Bobby Van Gilder p
I started watching DR 11 months ago and I was 30k in debt. I am 3k away from being debt free after 1 year
Dude!!! That's awesome - congrats on killing it!
Amazing !
YAY CONGRATS!!
Any updates dude?
goals
I am a black christian woman that grew up poor. I am in control of my finances. Most African American people that I tried to talk to about finances will not listen. In order to get somewhere you have never been you're going to have to do things you have never done. You cannot talk to a brick wall
Exactly and the same is true of white folk too. Most people think I'm some kid of whack job when I talk about personal finance. But once in a while I get a bite and those are the ones I can help. I have had about 10 people who have got on board with turning their lives around over the last few years.
Good statement. I applaud your efforts to get control of your finances.
Thatâs not a black thing hun. Thatâs a people thing. Donât you hear all the white people calling in to talk to Dave with messed up finances or who thinks Credit is ok. Dave has to threaten to sue a white guy on CZcams. đ€·đŸââïž
"In order to get somewhere you have never been you're going to have to do things you have never done"
well said!
My husband and I learned that. We try to tell them stuff, and we just get called stuck up.
Today I paid off my wife's car. All cards and loans paid off in about 9 months I'm totally debt free except for the house. The wife tried talking me out of it because of the pandemic. I told her that this is the very reason I've been working 12 hours a day 7 days a week since this thing has started. Don't let anything stop you when you're on a journey.
Very smart. Try to take 1 day off a week bro I've done what you did and after 7 to 8 months I burned myself out. Keep going forward
Awesome stuff. You have much to be proud of !
Amen sir!
Congrats and keep it going!
newton raymond Great job. đđ
They need a Dave Ramsey class in every High school. This country would be better off.
Then they couldn't "sell" college...
Maybe then people would stop blaming the rich for their lack of financial success. It's easier to blame someone else than to take personal responsibility.
We need to implement it there (in HS) but more than anything we need to Start at Home
When you realize how money and our financial system works, you realize that they really can't teach this in school
@@CJ-vz5bl they'd be out of business
I was raised in poverty and the biggest problem I saw was hopelessness.
How old r u ?
Belinda Garza I 100% agree
Thatâs the parents fault.
I grew up in poverty also and the biggest problem I saw was the poverty mindset.
@@markbowman5515 Define poverty?
I always remind myself to not buying the unnecessary thing. I cook at home and I don't splurge on entertainment. I am now spending my time reading books and articles to gain better knowledge. have fun at home by drawing and painting. This helps me to save more money
That's truly awesome
I appreciate this because sometimes I get bored staying home but I'm trying to improve my finances. Thanks for sharing!
Iâm on the same boat as you, hope everything goes well plus more!
Thank you for all the supportive comments. I'm still learning, managing my saving and expenses every month. It feels great â€ïž
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Mind if I ask you to recommend this particular coach you using their service?
Sonya Lee Mitchell is the licensed coach I use. Just research the name. Youâd find necessary details to work with a correspondence to set up an appointment..
Appreciate this recommendation, hopefully I can get some insight to where the economy is headed and strategies to beat inflation with when I hear back from Sonya
I came to Europe from Africa with nothing. I remember once in my 20âs I had about 30 cents in my pocket. I used sit at a bus stop and watch the world go with people of my age back then, driving cars, taking their girlfriends out shopping and to the movies. Every time I use to reach my pockets and see the 30 cents I had and say to myself âsurely it doesnât get any worse than thisâ. Through self discipline and going without, I quickly learnt that in life you have to protect your income and limit your spending no matter what. I run two cars, nice house in cheap area, negligible debt at 0% interest, savings, modest vacations once a year with my family. Iâve been watching Dave Ramsey and other financial savvy people for sometime and every time I learn something new. Iâve been trying to coach my family members in Africa about financial decisions and choices that make people poor so they can escape poverty for good. Thank you Dave, you are not just educating Americans but the world!
Very inspiring!
We need more Americans like you.
T M H He said heâs in Europe not America.
wow how awesome!
@@inaCabdulqani point being we'd rather have him as an American then the whining protestors who have no idea how good it is here and how absolutely awful it is in other places. You don't know true despair until you have traveled to other countries. America is not perfect, but it truly is the best system we have come up with yet.
If you can blame other people for your position in life, you absolve yourself of the responsibility for fixing it. An easy thing to do.
Agree!
Definitely!
Three years later and still true
Exactly!
I agree. Only exception is the pandemic
I am, at least I believe that i am, an intelligent black woman. I have been listening to Dave Ramsey for about a year now and in one year of listening to him, i have accumulated so much knowledge concerning my finances. I am on my way to financial freedom. Thanks Dave. Keep up the great work!!!!!!
As a 15 year old atheist, I completely respect Dave Ramsey. I love watching him help people, have learned a lot from the show. So thanks Dave, for giving solid advice to anyone who needs it.
Renee Jones what have you changed starting out?
Way to go! Doesn't it feel great!?! Isn't it also like waking up from the Matrix when his material finally clicks for the first time? Suddenly we look at banks, ads, taxes, and the endless jealousy found in "popular culture" in a *completely* different way.
Well done. Keep moving forward each day even if only a little.
@@issuesexplained681 Agnostic here and I love learning from Dave. He's great.
I was never taught about finances I just saw struggle...
Could you imagine they teach so much info in high school but nothing about personal finance and spending?!
Same here. I had to teach myself to budget and save money
@@SisyphusJP True for the most part but most highschools have a class called AP economics which somewhat teaches you about finance
Syed yeah but macro economics is worlds different from personal finance. Some topics apply for sure.
Agree with you...I know the struggle...I experienced, I understand...and though I am not financially rich.I am at a point where I am managing by being frugal and cautious and responsible..and slowly reaping. Though not yet fully financially free...I have acknowledged my past irresponsibility and mistakes..and continue to move forward! I am blessed! praise My Lord Jesus!
Taking responsibility for your economic situation is one of the most empowering things you can ever do. Acting the victim will keep you enslaved.
I tried spreading this mindset to my ex girlfriend and she told me that I didn't know what I was talking about.
So true, I've noticed in my recovery that control of my money and spending habits was actually the factor that seemed to be tied to a lot of other areas. So yes I agree 100%
Being a victim will also make you enslaved
I make $40k/year, am 30, and have 40k in retirement savings. This show was a great inspiration to get me motivated.
Thanks, Dave.
Richard Dixon Thanks for the kind words! It all seems abstract yet so it is helpful to hear other peopleâs insight! đđ
T J I also body build and practice two martial arts. âWeakâ is objectively inaccurate.
I just love this gentleman period his just right.
Thatâs so awesome man. God bless you!
Do you have any other savings other than the 40k? Asking because Iâm 30 and needs motivation.
It's a lack of financial education. Kids aren't poor. Their PARENTS are poor. We don't teach personal financial management in schools, so kids become adults with no idea of how to manage their money, the importance of paying bills on time, etc.
in wealthy towns i.e. (mattapoisett massachusetts ) financial education is taught to children as young as 4th and 5th grade, they are taught how to invest, and these are public not a private school
The most important financial education comes from watching your parents. I grew up with parents who financially planed everything and did without. My husband grew up with parents who just spent whether they had it or not and didn't try to get ahead. We are both just like our parents, and boy does it cause frustration because we are never on the same page.
I just want to add on to what you said because it's not only true, but it's half the story. Yes, it's true that poor kids are not being educated on how to properly manage money. But what education are they getting? They're being taught they need to get a credit card, build credit, build FICO, and use that to buy a car or house. So, they're actively being taught that you need to go into debt because "That's just how it works" which is not a good reason to teach them that. We need to teach kids that wealth/cash is more powerful than having a FICO.
My parents were very angry with me for suggesting Dave Ramsey. They knew what was best for the family and no one could possibly understand. They were always broke and the marriage fell apart.
@@Kim2887 True, but in our case our parents taught my husband and I what not to do. Both sets of parents were poor, but their biggest problem was spending the money they did have irresponsibly and didn't plan. We both decided we didn't want to struggle like they have and end up not being able to retire.
Anyone else, with a job during the pandemic, see their savings increase?
Def blessed to still have a job, and savings improved due to less going out to shop and eat. More cycling and hiking, which is free
We're lucky to work in jobs that are essential or can be done WFH
I got a raise during the pandemic. Telecom equipment company, saw a sizeable sales increase and lower Canadian dollar means same sales can cover bigger paycheques. Never had to stay home, but I stopped using public transit and my gas costs increased (I drive a 2009 Civic with no lien). Also didn't catch it despite living in a hotspot (got lucky)
Amen, I save 1,000$ biweekly as a African American Christian Non-conservative Republican Nursethat was poor but now put her kids in private school
@@candaceoseibonsu7739 Amen
I'm from jamaica where I use to be a security guard working at least 60 hours every week I was always broke when I was living in my families house where I only paid utilities and buy food, after I moved into my own apartment my mindset and my habits changed and even tho I had a huge rent I was never broke again. Choices and the people you're around will ensure failure if you let it. Living in America now for 5 years and I'm amazed at the growth I've been able to have is nothing short of amazing. I'm thankful for my struggles because they got me to where I am now. If only I found Dave Ramsey sooner!
I'm Jamaican too and I'm so broke all the time, eversince I started working I've paid all my families bills, groceries, jps etc. and couldn't save a cent. I wish someone had told me to be selfish and look after myself first.
@@regularity2556 nice sarcasm! I'm far from selfish I just stop making stupid choices u know like going to every party and blowing money (shell the bar) or buying clothes and shoes every month in a never ending quest to compete and keep up. I have an obligation to ensure a brighter future for my children u know create some kind of generational wealth. Crazy concept right?
through Dave, I now hate spending. I have $5000 as EF, and$15000 saved in 5 months. I am a CNA, from Africa
*G A Z E L L E I N T E N S I T Y*
Danny Green Working toward the same goal. Sometimes I don't spend money unless I have to. Now I'm not cheap! Sometimes you have to spend money!
Awesome work! Keep up the gazelle intensity đđȘ
@@Happey67 same here biggest mistake was letting them know I have a job
Concerned African . Hmmm I always believed Africans were great savers. Encouraging. What happened?
I have about $4000 saved. Thank you Dave.
4000!!!!
Keep going man!
Do u save in a bank or invest I'm just curious
Thomas LaBorde is the number going up ?
Hey.....my dog just died and we trying to give lil Roscoe a proper burial.....can u cash app me like ............$2000
Dave Ramsey's insights have been a game-changer for me! His practical approach to financial management has empowered me to take control of my money and work towards a debt-free life. The Total Money Makeover is my go-to guide, and I appreciate how he breaks down complex concepts into easy-to-follow steps.
Dave I was raised in extreme poverty. I knew the only way out was education. I was able to pull myself out as an adult. Always had goals and plans. Poverty mindset is real. I always believed I could do better and I did. If a child is raised in a home with mismanagement of money they believe it is correct. You have a great program. Thank you!
People don't need Dave more than they need to make more money....
@@donaldlyons17 well that is the point. If you don't manage your money then it gets fritters away. I advocate training and education for every young person to be able to "make it" otherwise minimum wage is not a livable wage.
@@vixxcottage Your concerns are good but their wage will matter more than their behavior..... Housing and other super expensive stuff means income matters more over time than behavior. I know this because I lived with people making multiple times less than I was and guess who always had money? Well safe to say it was almost NEVER THEM. So based on that experience managing money does not make up for making more money.
@@donaldlyons17make more, AND more importantly....STOP SPENDING!!!!!!!!! Just like in the comment above. Set goals and do whatever it takes to achieve those goals. HInt...its NOT always making more...its STOP SPENDING. Its not what you make...its what you spend/owe. If you make a little more(extra side job) and cut back on spending ALOT....THIS is where it happens.
@@peartfaldo Ideas again are not reality. Making more has better prospects but to make more often requires extras stuff. It is what people make that makes the difference. I know because when I was making different incomes I got to see $600, $1,200, $1,600 and now 3,000 each month have very different buying powers!!!! At a certain point stop spending is impossible because access to goods and services cost regardless of the amount of money made!
RICH PEOPLE STAY RICH BY ACTING & LIVING LIKE THEIR'RE POOR!!!, BROKE PEOPLE STAY BROKE BY ACTING & LIVING LIKE THEY'RE RICH!!!!!
Wow that's a very profound statement. I agree!
Touche!
This is so true! I'm from Puerto Rico and in my country most people only based on appearance, buying stuff they cannot afford to impress people who don't care
Warren Buffet spends an amount of money on his breakfast every day that correlates to how much he either gained or lost the previous day in the stock market. Further, he drives the same average late model Cadillac that he's had for several years. He is one of the wealthiest people on the planet, yet he lives like an average Joe.
True!
PSA: they are, theyâre.
Thanks to Dave Ramsey , I live wayyyyy below my means, I saved , Invest & I'm building my wealth!!!!
đđŸđđŸđđŸđđŸđđŸ
RD D Who cares if you are black ,yellow or green. ,,JUST DO IT ,, Nike and me. Do what Dave is talking about and you will be just fine.
Happy days
RD D why are you stating your ethnicity?
Anderson R because some people were saying that Dave is racist.
I'm on SSI and even though I can't always give money to the poor, I have gone to Food Pantries to help out as well as to receive food, it's one of the ways I can help others.
If you are only on ssi you are poor...don't worry about giving other people money. fix yourself first.
@@martinramirezmi5457 well perhaps there is no " fix ". BUT we can all do something to help. Give $, time or pass on skills.
Because i listened to you I have so much money in my bank account.
Great job :)
Same
Same good job man - weâre safe
Me too!! Congrats đ
Hopefully invested and not sitting in checking or savings =)
I want to chime in. I've followed Dave for 6 years now, got out of debt, have the emergency fund, invest in my 401 (k) and so forth. My mom was a single mother and there are 4 of us. We didn't grow up super poor, but we did not have a lot of money either. I was raised to work hard, but handling money was a foreign language to me! My mom does not have money and she is now 60. She doesn't play the victim card but money is now an issue because she never saved. She gets by and I help when I can (she very seldom asks that's why I don't mind helping).. So when Dave tells US to save, and to invest, and to do a budget so when we turn 60 WE are not broke, I totally understand what he is teaching... Love you Dave you are a life saver sir
Nick Behrooz I am in the same boat as you
So the only reason she doesnt have any money now is because she never saved? So your saying if your mom ask you for help all the time you wouldnt help her?
he already said that his mom didn't make a lot of money. In my case, my mom has only made $15,000 to $22,000 a year her working life. And I do help my mom. It's what kept driving me to get a master's degree. Hopefully, when my sister's finish, they can help her too.
Nick Behrooz jxugagun
Exoticbeauty015 itâs not in my budget to help all the time! I make 50k a year & while itâs not bad to live on in South Carolina, I still have rent, utilities, & living expenses. When Dave teaches & talks on saving money, heâs right! When he teaches on saving for retirement he is especially right. All that being said my mom RARELY asks for money. I fill her tank up & help with food from time to time. Take her to breakfast & slip a bill into her purse once in awhile. I would never let my mom starve. But at the same time she also regrets not saving for retirement! She told me this a couple weeks ago actually.
As a black man trying to talk to the people I grew up with about finances, the quote "its easier to get out of the hood than it is to get the hood out of you" is nothing short of FACTS. You talk about financial literacy and how impressing people is holding you back and they don't want to hear it.
Truth is, here in Detroit we didn't have schools to give us a great education, just an OK one. Luckily thru the teachings of Dave, Boyce Watkins, and other financial icons I've been on the right track to rebuilding and my emergency fund literally saved me when I hit a big crisis.
Also, to hear a guy like Dave admit to the oppression and racism that holds certain people down is a breath of fresh air, considering I'm a big fan of his (although I still would be a fan if he didn't, I'd just be more cautious about certain things). This tells me that he actually studies data and truly understands numbers and how the world works. This is not me saying blame the white man for every bad thing that happens in our lives because, in reality, most of us could fix our situations if we take our "club and jordan money" and save it.
I'm neither here nor there when it comes to systemic oppression. What matters more is one's drive to succeed. You obviously exemplify that.
Maaan same here! hahaha
Preach brother, I'm in the hood to watching it get gentrified everyday. I'm on baby step 5 and funding two kids college...
My friends I've grown up with won't listen....they rather buy jordans and go clubbin...wish I could help them
+moneyrip1 my brother that is so real. This lifestyle is like a disease plaguing our community man. We've all been there before, but at some point, we have to wake up and make the changes for our families and the next generation!
Clovy Clov m
Black female here who happens to be agnostic, registered independent, college graduate and DOESN'T live in poverty. I did make a lot of stupid financial decisions in the past that I've learned from though! Manageable debt who is a fan of this show!!
Nicole Bright this is me too glad Iâm not the only one
I am one of 5 children raised by a single mother. My dad was a total failure. We were very very poor growing up. I decided from an early age not to have a big family. I did not want to end up like my mother. I got educated in accounting, worked for many years in the field. I own my own firm now and proud to say, My husband and I are out of debt. I decided three years ago, I would follow Dave's advice and pay off my mortgage and save up to buy us a few investment properties. We are good!
Inspirational! Iâm currently 22 & I too am pursuing a career in accounting/finance. Sometimes I feel like itâs too late for me to save up & have my own properties in the future tho but at the same time, itâs kinda like better now than later
So you're an accountant?
@@alfmar95 Yes
YAS queen!!!!
@G G i do not understand your statement. Can you clarify?
According to some studies 70 percent of lottery winners will end up broke. Poverty has a lot to do with how you think --at least in the U.S.
90% actually.
Because winning the lottery doesn't fix financial irresponsibility.
Lord if I hit the lottery for a million plus after tax? Iâm retired and investing
Also why you see women who recieve millions in child support after having a child with a wealthy man. They spend all of it on hair, makeup, cars... Then tell their kid that their father was a deadbeat dad. SMH
Someone once said you could take everyone's money and spread it evenly among everyone and within 5 years, those who were rich would be rich again and those who are poor will be poor again.
Buying cars and traveling is what made us âpoorâ we finally are getting out of that now. Only thing left is $6000 in car debt and our mortgage.
True that đ©đ©đ©
Good job. You will feel your sacrifice at 55 plus.
Alexia and your mortgage is how much?
some people have cash paid cars from auction. fix their own cars. barely buy clothes and dont waste any money with no traveling what so ever and still paycheck to paycheck lol
do you regret your travelling though?
Thank you, Dave. You got me out of debt and changed my mindset. I've saved the most money ever in my whole lifetime. My mindset has totally shifted. God bless you.
Congratulations đ
Update time !
Dave did not get you out of debt. You did. He just taught you how. Nice job!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@@KathleenLamb-001 However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments...
@@KathleenLamb-001 Judith Ann peace is her name.
Lookup with her name on the webpage
@@KathleenLamb-001 You are welcome .
I come from the hood and I totally agree! You gotta make the choice to want more than what was given to you...
You must first have the awakening that you can live better before you decide to have more out of life; some people just become complacent in poverty-luck of mentors and myopia
I came from the good too and I can agree
Just what I did. Ian have nothing, my mama have 5 kids, single parent and we struggled.
Amen
I took consumer this year and now I have 500$ saved for a car and 500$ emergency fund and that's all bc I'm 15 and I'm so thankful for you dave
mini INCKY $500, not 500$
You rock!
mini INCKY keep up the good work!
Follow Dave's baby steps consistently and start investing as soon as you can!! You will be incredibly wealthy and prosperous, which will put you in an awesome position to be wonderfully generous.
Time is your friend right now, starting now is key, don't wait till you digging yourself out of debt at 45 to start. Listen to the voice of regret as Dave says! Lol.
Best wishes!!
mini INCKY in
Pretty sure that's 3 to 6 months worth of expenses for you. You're absolutely killing it man!
Iâm Muslim and I agree and respect every word you say and Iâm actually a member, although I live in Dubai đ€đđŠđȘ
Iâm sorry the internet is horrible!
Nice!
Nice to see a fellow Muslim on here. Youâre beautiful by the way
@@handlebarharry
It is nice to have an internet.
when you see god send him to me , he owes me money
I am muslim and have been listening to Dave for more than 3 years now, I was drawn to him because of his views on interest which align with my religious beliefs. It's ashame how divided the nation has become, we need to focus on being the best versions of ourselves thank you DAVE for being a prime example! There is a prophetic saying ,"the best of you, are the ones that bring about the most benefit to (the most) people" you are one of these people Dave keep doing the great work!
Same!
Hafsa A. Everyone is welcome to have a healthy financial future, regardless of religion or race!
It's a shame that it had taken a religion to teach you that interest is bad. This is basic common sense that should be taught to everyone.
I am a Muslim African refugee female living in the US and I believe in everything Dave says. My husband and I are debt free except for our home and our home will be paid off in 6 months. We have 4 kids and we plan to travel as much as possible and save, we are grateful for him and his believes. Thank you Dave, you've changed our family tree.
Super cool !!
I have estimated 14k $ saved
Still rent
No car
Just bike cycle
And I'm not from America
you sir know what to do invest reasonably and be generous and life will reward you for it
It is called "Pelit" hahaha just kidding
Mr Tiny How do you invest reasonably?
how old are ya?
Dari indonesia yang pasti... =)) salam kenal ... sesama ramsey fan =)
We love Uncle Dave Iâm a Latino Evangelical and I blame my debt mess on self. I thank God for you.
I'm from the hood of Long Beach California" everything that was said of getting out, of the hood" is true. I have very little education" but that doesn't stop me, from making money" online and walking into a Goodwill" store buying something and flipping it online. I use my hood hustling skills 2 flip my money online thank you Jesus I remember when I used to flip 50 double UPS of that white "stuff .I'll never go back to that again. A lack of Education" shouldn't be an excuse for failure..... I'm that bird that was born with small wings" so I have to get up a little bit earlier.
Bird with small wings I like that
đđđ
Thatâs is called knowing how to do business.. and keep going. No school education shouldnât be an excuse, I know a doctor who lives paycheck to paycheck because he doesnât know how to work his money.
Good for you bro
Never let your schooling get in the way of your education. Failure isn't falling down, failure is when you stop getting up, and a quitter never wins and a winner never quits.
No. Self. Restraint.
I am a bakery manager. The people who ask if their EBT card will buy their birthday cake go ALL out, maybe 20 guests- orders enough to feed 100. Gets multiple fillings, toppings, upgrades.. a $140 cake, no problem, gonna swipe that EBT! You dont see people on their own money making choices like that.
It's easier to spend someone else's money. When you earn it, you want to hang on to it.
Interesting!!!
So wrong. No wisdom.
They want their one year old to enjoy a birthday party he or she wont remember. This ends up being a family reunion of future diabetics, what no other food but cake? I see your point and will apply this to people who work and will do the same at least once in their life but will stop this once a kid becomes a teenager. It's still wasteful and will cut into having better finances. Misspent money is lack of saving. No savings then you're more poor.
Solution-watch some CZcams videos and learn to make your own fancy cake for waaaay less than $140.
For myself, being poor was due to my belief that money was only something someone else gave to me. By that I mean a job. I was always searching for the 'better job' that would pay me $1-$2 more. But with no education, you're expendable.
When I learned that money was something you could attract to yourself by becoming valuable or learning a marketable skill(as Dave says) that's when things changed for me.
Exactly
Or be an Entrepreneur. Example. Affiliate marketing, drop shipping, or ebay seller. Look into it.
Lots of wealthy people are high school dropouts. Don't fall into the trap that "education" is everything.
Joe Doe you generally need to have a safety net to start. Itâs not so easy when youâre starting at 0
Black Excellence Production:Well said!Many people are to busy blaming somebody/something for their station in life,rather than looking in the mirror!America was founded on individuals right to seek their own version of a happy successful life.Everybody does not need extreme wealth.If one does not handle the tool called money,They will not get the things they WANT!You only need food,water,and shelter to survive.Want and need are used interchangeably all to often!Thank you.Spread your message to the youth!
Literally have a huge beard and subaru and watch you every day . I laughed so hard
We spend Soooo much time talking about makes someone rich but rarely what makes someone poor. I spent years of my early career working in weight loss clincs. The biggest thing I learned about what separates the successful and those who were perpetually working toward their goal was mindset. It changed my life to realize that.
Itâs not how much you make itâs how much you spend. My Grandpa had a saying.Use it up , wear it out,make do or do without.
Love that!
Love and Peace Thatâs an old saying from the depression.
my grandmother's too!
I have slashed my spending and have more money than ever and stopped worrying about money. I just don't buy things and the desire to buy has left me. I make due with what I have or do without and am happier than ever.
Grandpa is a wise man
Those who think its 100% circumstantial, for being poor, will never ever move forward in life.
And the vast majority who think it is not circumstantial, will also never move forward in life. The low rates of economical and social mobility -- worse in the US than in other industrialized countries -- indicates that it is overwhelmingly circumstantial (especially in the US).
@@otsoko66 That doesn't prove what you think it does.
@@otsoko66 What are you smoking? The US has some of the highest rates of income mobility of all 1st world Nations, beaten only by nations with fewer regulations on the market.
Or those that keep blaming their parents for their failures. It is one thing to blame your parents when you are 18 but still blaming them when you are 50 because you are a failure means you are the problem.
Enlighten us person of wisdom.
I disagree with your comment.
African American Muslim heređ€đŸ and Iâm not politically conservative. I have been following the Ramsey Show for short period now but I really appreciate Mr. Ramseyâs show. He keeps me motivated and Iâm making my way through the baby steps. Disagreement doesnât have to mean disrespect or dislike/detest.
1. No plan
2. Spending
3. Drugs
4. Attitude
0. Kids you can't afford
@@etiennedegaulle3817 kids are not the problem.
Spending is the problem.
My parents had 8 kids.
Wilma Rudolph had 21 brothers and sisters.
Kids ainât the problem
@@PInk77W1 They if you can't afford them. The anecdotes you provide are irrelevant today.
@@etiennedegaulle3817 there are many families with
Many kids today. They are just frugal.
@@PInk77W1 There are many families with many kids today who are flat broke. They just have more expense than they can possibly afford due to having kids. They just made bad decisions, especially given the current economic situation.
A little sleep, a little slumber, a little folding of the arms to rest, and poverty will come upon you like a thief and scarcity like an armed man. Prov 24:34
Yes! In other words donât get caught slipping on managing your finances!
Missy Cutie no in other words keep working
This doesn't seem to have anything to do at all with what he say this video. (Just like most Bible quotes are convoluted to fit the meeting the user wants it to.)
In other words if you keep showing up late to your nice paying job because you like to sleep you will lose your income when you lose your job. Dont ask me how I know haha
@@its.albert.510 the bible is pretty clear ..where is the convolution??
"and greed which is idolatry"
"for where his riches are that's where his heart will also be"
"seek God first and all those things (goods and needs) will be added to you"
Dave, I'm an atheist and do believe being poor is because of lack of trying. As for atheist being smarter, their are a lot of dumb atheist out there that can't do math, won't read history, and can't stand your show because it is Christ centered.
Yes Dave, even in the atheist community you do have people who listen to you and want you to keep up the good work.
I am one of them. I do think it silly that he says things like he is managing money for god, but other than that I like the advice he gives. I got myself out of debt a few times and it was always by sacrificing or earning extra income somehow. I learned the hard way.
I am very much atheist and listen daily to him. He teaches common sense. I don't need to believe in the same God just to agree that I need to get out of debt. Just glad there is social media so that I did find him.
Black Atheist here also
Sorry, atheists don't exist
Another black atheist as well. I zone out when he gets biblical but everything else is on point. Been a long time listener.
You're 100% correct Dave!!! I have family who I have tried to bring up with me in the business world but they continue to make the same bad decisions and I mean hood decisions. I grew up in the same hood but I do not act like I did as a young man.
I was once liberal and with a liberal mentality, I now consider myself a conservative and the data that Dave Ramsey has given us, correlates with what I used to think. I thought that the liberals cared more, gave more, and I thought that the conservatives were too goodie and only cared about themselves, I was wrong. Data doesnât lie.
"Government cannot make man richer, but it can make him
poorer."--Ludwig von Mises
government often makes the rich richer. Consider the laws on 'intellectual property' that Microsoft and allies pushed through Washington (and imposed on us in Canada to get NAFTA through) -- it radically made Bill Gates richer. Immensely richer.
otsoko66 whatâs wrong with getting credit for the technology that you came up with?
@@otsoko66 What a horrible example to use to prove your "point".
Mises was a cook. His own wife disagreed with him as did one of his closest followers.
Lack of education, low pay, mistakes, bad decisions, life
Tru
But I have an education. MA.
I have all of that and made my own business, successful after 6 years. Perseverance and a smile go a long way.
The worst setup that I commonly see is young adults having kids with a minimum wage job.
@Dan Wruck poor in the middle of Africa is a whole different kind of poor than middle of Detroit.
Iâm only 21 & Iâve already done substantial debt damage to myself, but Iâm so glad Iâve found this guy.
Update time
"It's easier to get out of the hood than get the hood out of you." đđđđ
Lol I experienced that too
Lolll
I have skinny jeans, a beard and a Subaru but I agree with you Dave! Haha!!
This only works if you have a coexist sticker on your car đ€Ł
Davey Kolk , I am a disciple of Dave but the smartest thing I ever did was buy a Suburu
@@OogiddyboogwayIt is very clear why some countries exterminate the perverts.
I was born in a (relatively) poor family in Asia. I grew up knowing that hard work pays off. During my teenage years, I was sick of my family always not having enough money. I blamed the cosmos for putting me in a bad situation.
I seemed to understand that economic mobility was difficult and decided I won't be living in the country forever. Studied hard to get a diploma (can't afford a degree) and set myself up to personal improvement until I got an opportunity to work overseas. Got a pay jump - paid off my parent's debts and saved enough money in case of emergency-when just a few years ago I rarely had enough money to take the bus to go to work.
All I'm trying to say is, when there's a will, there's a way. The problem with a lot of people (mind you - i didn't say all) is that their expenditure increases with their pay. Or they have really bad money management. In hindsight, this is probably my family. For sure, some people start life on hard mode depending on their family's financial situation. That said it doesn't matter what race, gender, religion you are - there is a way to always do better. Seek gratitude - you're probably doing better compared to billions of people (especially if you're reading this- 4 billion people don't even have internet access). And the main thing - Stop being the victim.
Great story
amiroarrr z
You said a mouthful. Their expenditure increases with their pay. They spend more on frivolous things instead of banking that money. I know a woman who makes a decent amount of money who stops at the mini market every day to buy a pack of cigarettes. Aside from the health issue, if you canât see the problem with this, youâre not very smart.
BEYOND AWESOME!!
I am a Real Estate agent and from my experience that with the people I have come in contact with would be a lack of financial knowledge.
Dave your the goat đ . Listening in Hawaii. About to graduate from ASU this year. One of my professors put your book on our supply list for his course and itâs sending me off to the next step in life with a perspective I couldnât have framed on my own so thank you sir! đđœ
If you surround yourself with poor/unmotivated/people who complain people, you will most likely become poor/unmotivated, If you surround yourself with productive successful people you will naturally get their mindset/tricks/motivation to push yourself.
Show me your friends, I'll show you your future
This is not true at all. If I surround myself with poor unmotivated peope it makes me more motivated not to be like them.
jortega61924 I guess you can learn from a persons lack of motivation however you probably won't meet anyone in that circle that can connect you to resources that will help you succeed. Thus, if you hang out with the unmotivated, you may benefit from having a couple of successful people to balance that out.
Sukun Unosawa Not true
I have friends from every income group. I donât like people who want to be friends with me to social climb. It is annoying. Iâd rather be around honest poor people or honest rich people whose are confident with themselves.
19 years old and am absolutely obsessed with your show and money habits. High-school did me well
There are many Amish millionaires and they only have an 8th grade education.
All that hard work and very little $$$ in the bank, oh well God will reward you in heaven.
@@sexysilversurfer I recently went to an estate auction for an Amish gentleman. He was selling out and retiring in another state.
After seeing his home and farm I would definitely NOT call him poor.
Honorable, hardworking, and independent - definitely.
A person to be admire in my opinion.
@@sexysilversurfer they're literally the richest people in the county
Itâs amazing how financially stupid folks are. My friend is one of them- one of the biggest errors is rolling smaller debt into large debt- consolidation. He thinks taking a five year truck loan and rolling it into his 25 year house loan is a good idea because he can refinance at a lower rate. What he forgets is now youâre paying for a liability for 25 years instead of 5. People need to stop upgrading phones and cars- thatâs the biggest reason why people are broke
Poverty in this country is a state of mind. Poor people see themselves as a victim of their circumstances and believe that life happens to them rather than them making life happen. Help them change their mindset and you can change their life.
gourmetgirl 100% accurate
Best comment I've read.
Poor people in this country is still considered rich compared to third world countries
When I learned the laws of money, and the difference between assets and liabilities.... It was life changing. I wish school would teach this.
Schools do teach this. It's just contained in the word problems from math class that nobody wanted to do.
I love you Uncle Dave !! With your guidance, my Hubbie and I are on bs7 đ
Thank you Dave, for this. I appreciate your fight against divisiveness, hating, and poverty.
Letâs take it a step further and keep in mind that addiction is 50 percent genetic, predisposition. So even the alcoholic accountant, I wouldnât be too quick to blame him for his downward spiral. Those of us not born with the pre-disposition have difficulty comprehending the struggle for others to remain sober.
Itâs an uneven playing field. What can we do? Try to support each other; be slow to judge; and keep tuning in to Dave Ramsey!
Thank you for this. You're absolutely đŻ right.
IM A BLACK AFRICAN FEMALE (from Ghana) AND I LOVE DAVE RAMSEY- i followed his instructions and in 2 yrs my credit score is 750 and i have only $4000 debt left to go. He is strictly no nonsense, and tells it like it is like my late african dad. I love Dave Ramsey.
Lol I adore Dave Ramsey he has kept me from making a lot of major mistakes in my life and he's going to prevent me from making major ones in the future
Fr?
This man called Dave Ramsey has helped me so much. Heâs one of the best voices on finance out there.
I came from a very poor family Dave, I was very poor and now I am doing better than anyone one of my siblings whom all had the same upbringing, We lived in the same ghetto, went to the same school (I actually dropped out of the 6th grade),and had the same parents. The reason why the poor are poor in my opinion is a terrible mindset! As you think so you become, their minds were always in the gutter in the ghetto, my mind was on solutions, how I was going to get out, how I didn't want my future children to grow up the way I did. I'm happy to say Dave that my kids will never have to know what I went through. I now make six figure, purchased the first of many rental properties, i'm insured for 2 million and im about to make a college fund for the 3 of them. Growth Mindset!
I'm American Mexican by the way since you brought race up in the video.
P.S id love to call in to your show by the way and tell you all about it.
I know 2 women their blood sisters - raised in the same home - 1 has done well in life-worked hard and managed-the other has lived a party life and has nothing!
Instead of looking at someone as being racist try looking at how much can I learn from this person? I really think poverty stems from the lack of knowledge and the lack of self discipline .
Yes ma'am. I agree 100%
Jitsumi London so true
I am independent, but in the past few months, my beliefs sound super conservative now. :(
I am white ,English and poor. I am TOTALLY to blame for my situation and are taking steps to get myself out of it. I am not religious but I understand the morals and the points Dave uses that I call common sense.
Thank you for calling that out about Haiti Dave. I'll never understand how all the money that is raised when natural disasters occurs just "disappears" and no one says A WORD.
Those people were robbed of everything that was given to them by caring people across the world. Whomever took the money needs to be prosecuted.
You mean the clintons?
TheGreenlove87 I was thinking the same thing. And I voted for Bill before the disaster.
Lack of Financial Education, budgeting & money management.
Wanting to keep up with MTV is a lot of it.
Thereâs a reason why they donât teach financial education in school. Itâs to keep you poor.
@@anthonypresley1980 No, being poor costs society money in welfare and food stamps and in some cases crime . If everyone was self sufficient and paid into society as taxes, would save governments, charity and people's good will a fortune. There is no advantage to keeping people poor.
ifabbott yes in fact there is. Without the poor, there wouldnât be the rich and elite. Thankfully even Alexis de Tocqueville knew that in order to be a successful country, you have to take care of the poor. This is why Ayn Rand was completely wrong (as she ran to her mailbox for her social security check). There will always be poor people. Thatâs just fact.
They really need to teach finance in all public high schools. Not everyone has parents who are able or willing to teach it to their children
Circumstances cause people to be poor lack of effort causes them to stay poor
Or putting effort in the wrong place
@@jennifern9188 I was going to add this. Sometimes you put effort in something that falls through. Sometimes you simply don't have the tools, knowledge, and opportunities to identify where your efforts should be placed. You could be the hardest worker and putting in the time but only getting by because you have no idea by doing A or doing B instead would result in better outcomes.
@@intense79nick I think we are on the same page on this one
Hi Dave! I am Brazilian and a Muslim and appreciate your channel and advice. Being charitable is also part of our faith and I would love to see guests from different faiths and walks of life in your show brainstorming how we can truly make a difference. God bless you all! Priscila:)
My parents think I'm weird now that I've told them I'm sticking with my car until the wheels fall off. And that if I buy I'm buying with cash and a 2 year older car. So glad youtube recommended Dave to me.
Brian I feel this way to,buying a newer car adds to higher taxes and insurance.I was planning on holding on to my 96Nissan XE.I would get into a accident and it was totaled.I searched and searched for another older truck but everytime I took it to a mechanic they said it wasn't any good.I would end up buying a 2011.I was going to be a Uber driver but every time you turned around something bad was happening.I still make money using my truck moving things
Brian Nowack agree! Still driving my car with 317,000 kms on the odometer. 12 year old carđ Iâll update when it dies....
Realize that they lived in a different era. The car is a status symbol of how well they did as parents. Parents need to brag on their kids
I said that too with my first car I paid off... and that crazy car went through tires like crazyđ and one of those changes the guy didn't tighten the lugs and it literally fell offđđ
End of the day a car spends most of its lifetime parked at work, parked in the driveway, parked at the grocery store, and sitting in traffic.
The other day I was walking thru a downtown park. I just happened to walk next to and with a homeless lady for a few minutes. She said âIâm 71â
So sad.
I was raised to always strive for the best, work hard etc. Iâve met people who just genuinely donât seem to care about wealth or financial achievement. They are content to go through life living on a shoestring budget. There are people who, if any type of windfall comes their way, they need to get rid of it so they can get back to being broke.
I never cared to become wealthy, but I do care about my family and special needs son to be taken care of when I am gone. My wife and I took Dave's class 15 years ago and it changed our lives. At 54 years old my wife and I are everyday millionaires. We have helped many other along the way and continue to do so as God directs.
I would like to add to Dave's reasons are: 1. Spending on unnecessary material junk 2. Excess partying to show off, for whatever reason. 3. Not planning for the future whatsoever.
1) Being born poor and having too many responsibilities helping parents while growing up. 2) luck of mentorship on how to earn a better living and not a poor wage what it was look like everybody was earning. Working hard does not equal earning decent money. 3) Getting too comfortable pinching pennies and surviving on less. These are reasons for me, but I did learn good money management skills growing up. I just wish I would learn money making skills too not just blindly thinking if I work hard, I will earn a lot.
Everyone always of the bum on the couch collecting unemployment. But no one things of the people working harder than them who have less than them. That's something we learn as children that a lot boomers could take some advice from.
The cause of being poor is spending 100% of the money you earn
people are also poor for spending the money they dont have. hence most ppl that come on here to talk about their debt.
Spending more money than they need on things that don't help make money and or don't need.
Show me how to live on $2 an hour in Australia. With wife and two kids. One with special needs.
@@karlpokorny7130 sounds like kids are little premature.
Sometimes it takes it.
I am from the Appalachia area. There are no truer words spoken.
Ramsey really is a savage in this clip.đ
He just came across as salty to me...
Been listening for a while and haven't heard a racist thing yet...just seems blunt and old school in the best of ways!
Why would you expect to hear racism?
@@JTrizzo8 people have called him racist
I feel the same.
Even if he was racist, people should just use the info he gives freely.
If a racist guy was going to put me on Game to be a wealthier person Iâm going to listen. Doesnât mean we have to like each other.
You are smarter than most.
If you want out of a situation bad enough, you WILL find a way out of it. I grew up poor in a very wealthy town but had no wealth envy. Guess what? I'm not poor anymore. I was, didn't like it, so I did something about it.
DeathRowToDisneyWorld that last sentence, perfectly summarized! Priorities play a huge part in your circumstances.
No
It depends on where you live and your situation
I was raised in poverty and the biggest factor was narrow minded decisions and fear.
Iâm black, love Dave. Paid off all debt listening to his advice. It works, it is easy..no, but it works.
Sure... being debt free is just the beginning. The next most important part is saving and investing your savings wisely.
@@johnSmith-uz8nl yes, but one step at a time. Most of us are just learning by listening to Dave that you donât have to live with debt just because most Americans do it. You donât have to drive the fancy car, or live in the big house....those things can wait until you can truly afford it. First you change your mindset then actions will follow. Definitely already investing!
Iâm poor cause I lived beyond my means but thanks to my father in law buying your corse for me and Megan we are working into thriving
What cause poor people to be poor : They bought liability and think it's asset. Simple answer.
Genuis
Really. I worked from the ages of 12-54 when a traumatic brain injury took me out of the workforce. I didnât have any debt when it happened but my savings was still wiped out paying for cobra benefits since I couldnât keep my insurance when I couldnât work. I also had a teen still at home to support and medical co pays. People need to stop judging.... did you listen to the show at all?
@Jonh benjamin Not one of those apply to me so tell me how a purchased liability made me poor?
Top, bottom or vers?
@@myjeanification He's obviously not talking about unfortunate accidents like your situation or others in similar circumstances, so why be offended?
Jordan Peterson has a great lecture on this, in short it's IQ and conscientiousness are the best factors for success.
As someone who was born and raised in Haiti, @the Dave Ramsey is spot on. I came here poor and now, I am broke, but I have the opportunity to change my life.
Blk man here đ€© and I love Ramsey đ
I had an Uncle who lost both legs in the Korean war and still worked full time until he retired at age 62. Sure he had "circumstances" due to his disability but it never stopped him from finding work and moving up in his career.
A slack hand causes poverty, but the hand of the diligent makes rich. Proverbs 10.4
AMEN!
So true!!