Dave Ramsey Loses His Mind Over This Advice On Instagram!
Vložit
- čas přidán 11. 09. 2022
- 💵 Create Your Free Budget! Sign up for EveryDollar ⮕ ter.li/6h2c45
📱Download the Ramsey Network App ⮕ ter.li/ajeshj
🛒 Visit The Ramsey Store ⮕ ter.li/7vyom2
📞 Have a question for the show? Call 888-825-5225 weekdays from 2-5 pm ET or send us a message ter.li/n88ly5
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/ng9950
🍸 Smart Money Happy Hour ⮕ ter.li/9gcp3d
🧠 The Dr. John Delony Show ⮕ ter.li/2u3mc0
💰 George Kamel ⮕ ter.li/1elws8
💡 The Rachel Cruze Show ⮕ ter.li/n2u6jc
💼 The Ken Coleman Show - Highlights ⮕ ter.li/1rbjr2
📈 EntreLeadership ⮕ ter.li/ktxv2k
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
Building passive income through dividends is a solid strategy, but for me, early retirement with financial freedom is the ultimate win - especially if it means having a million at my fingertips. I'm ready, but here's what I'm after: what can I do to capitalize on the next market surge and accelerate my path to independence?
Whenever you're ready, hire someone to manage your money. You need a (CFP) straight up! personally, I would invest in ETF's and also love investing in individual stocks.
I was taught well on how to save, nothing on dividends, but now in my mid 30s, I'm really ratcheting up investments with the help of a reputable advisor, realized nearly $800k after subsequent investments in barely 4 years so far. I do think I have dropped a lot of stress about finances having a long term perspective about investing.
This is great! think your manager would get on the phone with an unknown? I'm concerned about my savings due to high inflation.
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your pointers
Rachel: “I don’t wanna harp on them”
Dave: “WELL I DO”
Yeah she's too soft
Being kind hearted does not make you "soft", frat boy@@jaredhammonds8255
She loves Disney and Netflix. Of course she's soft.
Rachel is annoying
@@Dude357 Loving disney is to love a nefarious company. They are destroying the minds of our youth.
Rachel: "Oh~ He's so proud...."
Dave: "He's so Slimey!"
@gilagarden2535
Exactly 😂
Truuee he did really said that 😂😂😂 and she did too!!!🤣🤣🤣😂😂
There is a saying my dad taught me that he was taught. "If you need to do a bunch of complex stuff to earn money you're being scammed, doing something illegal, putting yourself at financial risk or a combination of the 3."
Rip science/ day traders/ investors/ and other really smart jobs I’m not qualified for
I use my 24 month 0% interest credit card to put all my spending on and then take the value of my purchases and put it on the stock market, I also use this credit card to buy anything that looks like it will inflate and then save for the future so I buy the goods at a reduced cost and only need to pay it off in the future when I have more from investments, I invest far more than my debt so even if the investment goes down I will have more to pay off the credit
That's still financial risk, it might be no risk in your opinion but it is.
Good advice. Your dad should tell all the people that get scammed by mlm before they start.
Dirty hands, clean money.
"I'm having trouble finding intelligent life on TikTok." 😆 Truer words were never spoken.
Right?😂😂
I found dave ramsey on tiktok so at least it's one
"He drips with arrogance" Beautiful and that's his good points! Love it!!
Coming from the guy who talks down to everyone. Just rich.
Dave dripped in arrogance in this video ngl
The fact that he has ealked the talk and knows his stuff makes his arrogance palatable. I love his show.
So does Ramsey. Lol.
And , from an economics point of view, that is not an arbitrage operation. That is a weird kind of financial leverage maximum
The more complicated the advice is, the more you should stay away from it. Dave's advise is simple and it works. More importantly it forces you to be responsible.
His advice is only good for people who have racked up massive debt or have no self control in having a credit card.
@@km3106 how about send over an extra $500/month to anyone you criticize, or buy them their car outright.
At least then you can't be blind to income differentials which are literally what make someone go into bad debt to begin with. Jobs are far and people make mistakes, if people like YOU didn't perpetuate such a cancerous culture, then the average would undoubtedly be much happier and more prosperous.
@@km3106wrong, it’s good for everyone. If you have no debt, great. You can still build massive wealth through his plan. It’s not really a plan as it is just common sense.
@km3106 TBF you just described 90% of Americans old enough to accrue debt and manage finances.😅
And it gives you peace of mind. Which is huge. No one knows what is round the corner. We could succumb to a horrible illness, or be knocked down by a bus. If something bad happens, we may need to focus our attention elsewhere. In that event, the last thing we would want to have is a complicated financial strategy that we need to keep on top of.
Rachel setting this up to trigger her dad is just epic. Keep these coming.
Never knew she was his daughter ha
i know we've all been there, just teeing up something on social media for parents recation
Thats what kids do, lol
Talentless. Hacks.
That's exactly what I was thinking!!! LOL I had to check the comments just to see if anyone else was calling her out on it hahaha
I had a father like this and I was in debt until 50yo. I wish Dave was my dad. I try to teach my kids like Dave teaches. I pray they will grow wise.
Dave is your Rich Dad.
Dave has helped people sure, I might not agree with everything he says though.
But usually he does have general decent to good advice.
I have my son watch him. We’re learning together
"Even though my dad did his best to educate me with the knowledge he had, he was no expert. Therefore, I wish I could discard him".
Sweet baby Jesus, give me the strength not to be pro-choice.
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
I attended his workshop in Franklin, TN back in the 90s and it was a game changer. This was before apps and such so my ex created a spreadsheet for our zero-based budget. I still use it. I can't speak highly enough about Dave's financial advice; however, we part ways on politics and religion.
Baby steps. Baby!
@@belanteomeroI’m on the same side as Dave religiously and politically. I’m impressed that you still have the critical thinking skills to listen to his financial advice, despite not agreeing with other things. Unfortunately, that’s rare today. It seems that if someone isn’t on the same side as another politically, they’re immediately vilified in every aspect of their life.
This sounds like the setup to a botscam thread, but it specifically mentions Dave Ramsey. Are you a human?
@@gino14The "MichaelDavis" above is a bot. I've seen this same exact comment over and over again on so many different Dave Ramsey videos now. And they always have hundreds of thumbs ups. They are bots.
With that $7,000 she could buy a really nice used car!
Too young to drive. She bought her dad a car.
@bernadette573 he reminds me of those parents who used their kids identity to take out debt. Gross!
@@bernadette573 true
@@NicoleLLewis exactly!
@bernadette573 true...
If you take a car loan from a bank and spend that money elsewhere, that’s called fraud
@clot shots that’s adding context to what she did. The comment you replied to is in a general context.
@clot shots When her father asks her to explain it again, she is clearly stating that she is taking the money from the bank, which are then her own dollars, and gives those dollars to someone else for a higher interest rate. She said it clearly on video, means it is fraud and she admitted to it.
@@beatrixaltenberg5135 no. She said she's using her money to invest in the AirBNB and the return from that will help pay off her car loan.
The supposed facts don’t add up as Dave rightly points out, but it makes for a good sound bite. I worry that an entire TikTok generation with believe the schemes are the path the wealth generation. The magic of compounding is the true path.
@@cloudyeight right. She is taking out a car loan, so the bank is paying the car dealership for her car and the bank expects to be paid back at a rate of 3.5% interest. She is taking her money that she is not obligated to pay the bank with, and investing it in an rental property at a higher return than 3.5% interest. No fraud being committed here.
There's no way she's getting 3.5% without his co-sign.
Yup
@@thebeegood1731 Right. Dave said she's 15 but the video they watched never stated her age lol. I just thought maybe she's 18 which would explain the loan with a co-sign.
I waited until after college to get a car and still had to get my dad to cosign to get a rate that low.
@@KurtisB at 18 a 3.5% car loan would be impossible, even if she put 7000$ of her own money down to prove she could make the payments. You can actually take out car loans at 15 but it’s really the co-signer taking the liability so it’s only your loan in name but it functions as if the co-signer is the borrower. The whole clip stinks of someone trying to sell a course or milk views through pie in the sky investing strategies for those that don’t want to do the work of saving money and investing it in a responsible, boring way
They conveniently left that out of course lol
Dad got a car and used his daughter's money to buy an Airbnb! He is basically stealing from his daughter.
It's annoying and distracting. Let the lady finish her sentence.
Thaaaat's what it sounds like.
@@Msnanamac do you mean Dave Ramsey interrupting the other host?
@@Msnanamac I agree with you, very impolite for Mr. Ramsey to do. Some people are not very good with interviewing and conversation. Improvements can be made; we just have to work on our imperfections. I continually do as I am definitely not perfect. I read your thoughts and knew right away I felt that way too.
@@peacelovejoyandhappiness well it’s his show, he doesn’t need to ask her if he can speak.
I don't have a tenth of Dave's financial knowledge, and I was left baffled and disgusted by this ridiculous Instagram video. It just didn't sound right, but I couldn't explain why. And yes-- TikTok is where logic, truth, and attention spans go to die.
Count your self lucky. PS the video they played is 100% correct.
You can do that theoretically but it’s more of a luck game. Nothing can break down, you always have someone inside and a few other variables.
Just because you personally don’t understand how something works doesn’t mean it doesn’t work. That’s a common logical fallacy called argument from incredulity. The Tik Tok video uses a common tactic that people with enough money in the bank use to offset the interest cost of a loan. The most basic form of this would be you have $30k in the bank and you want to buy a car for $30k. Should you pay for the car outright? Not necessarily. If you can get a loan with a sufficiently small APR, we’ll use their example of 3.5% you can instead take the $30k in your account and put it into something with a larger return than 3.5% like a 5% high yield savings account and pay the loan payments from that account. So what happens is you’ve offset the APR of the loan and instead of paying an additional 3.5% interest on top of the cost of the car you’ve made 1.5% interest over the life of the loan without the loan affecting your day to day cash flow. Dave’s take on this is very specific to the video’s particular investment because it’s a much greater risk. But you don’t need to invest like they did. There are many other ways to get an above 3.5% return on your money. The method DOES work in practice, not just in theory, despite Dave’s claims of supposedly no millionaires having done it. The trick is the loan needs a low enough interest rate that you can guarantee a higher rate of return by investing your money. You also need enough saved up for the interest you’re gaining to cover the interest lost. The way this family did it was just nonsense because you can’t guarantee that rate of return and money invested in real estate of any kind can’t be taken out easily. Also, Dave is falsely attributing this to a method of “getting rich,” it’s not. It’s merely a way to mitigate cost on a major expense.
@@mr.nilrapsshe's claiming she's getting a car for free. Her dad has clearly put very poor ideas into her head. There is no free car. The #'s they are stating are absurd. The 3.5% car loan is not based in any sensible reality.
@@Tickleyourpickle420her car is being paid for by the Airbnb which is how wealthy people use money. You buy assets to pay for liabilities
I can't be the only one who thinks this dad looks EXACTLY like someone who gives this kind of advice
100% - forgive my French, but a total doucher.
That arbitrage dad was definitely 100% Grade A A**hole.
And the same type that would try and hit on a girl that age
@@Wealth_AtlasThe pettiness coming out of y'all. So childish lol.
“He’s so proud”
“Well, I mean he’s so slimy” 🤣🤣🤣🤣
It cracks me up when people tell you the exciting part but not pitfalls
That’s all the internet is anymore! Including this show .
@@grantv2313 you must have followed the Instagram advice so now your angry :/
@@BS-ek3mt Not angry at all. Have just seen the same stuff on this show from a different angle. They love to gloat and swoon all over people who have magically found unrealistic success and don’t ask any questions as to how it actually happened. . They just did that much better than everyone else because they’re “that good.”
@@grantv2313 being debt free isn't unrealistic nor is investing 15% of your income throughout your working life.
Thank you Dave and Rachel for exposing a real con artist.
I was sitting here wondering how a teenager can get a car loan at 3.5%, much less the Airbnb
@@SweetEssiei am guessing dad co sign and dad already has airbnb properties or connections, she just used those money to chip in
@johndone8045 Yes but she's 15! I didn't even know you can get a car loan at 15 even with a co sign. I thought you had to be at least 18. Maybe they are lying or maybe it's something I never knew. She also can't own an air bnb legally so what is up with that? 🤥
Just would like to thank you Dave for all you do to help the people that will follow your guidelines, it's real, it works, THANK YOU again and all the people that assist you in this glorious effort.
I love how she really assumes her AirBnB is ALWAYS going to have renters and the water heater/AC won’t break. Never leverage money in anything with risk. You’re begging Murphy to come in.
Maybe her arbitrage was to pay for the broken water heater for her bouncy castle air bnb 😂
She assumes that because she trusts her dad, and he said so with complete confidence to her.
There’s a risk in everything
We just paid $11,000+ to replace the pump which is 300 feet down the well. Mainenance on a house/rental is a killer.
@@annarebecca3384 home shield helps with repairs
Rachel is by far the best co host of this show. I love how she calls Dave out and tells him to shut up. Their dynamic is just great
Lol it's because she's his daughter. Everyone else is scared of him.
@@oohdatbuck09 you aint lyin
@@oohdatbuck09 the guys that weren't afraid of him got fired, let go or left.
@@jackjack4412 ding ding. Exactly
They are great together
Dave is so funny. Its horrific what people do to themselves. You never 'Barrow' against yourself, start there.
When Rachel says, "he's so proud"...and smile...🤣😂🤣
Dave needs to take on these social media financial “experts” giving terrible advice, and make it a regular occurrence in his show.
Yes definitely that would help a lot
I have a feeling it is people like that Dad adding to societal problems, as well as their own demise. Always people looking for a fast, easy buck.
And see his blood pressure rise.. 😂😂
@@chipm2544Yea and they always have a podcast they want you to listen to, or have a course they sell for $2,000. Or like the loser that said on TT that you should be ashamed of yourself and embarrassed with your wife if you only make $400k a year and are not making millions. TT is ok for some funny content and for food recipes but it has turned into a shit hole of an app and quite frankly can’t wait until it’s banned and discontinued.
Hahahaha Rachel’s discomfort when Dave starts going off! I love it 🤣🤣🤣
Same 🤣🤣🤣🤣
I didn’t see that at all. She loves it, and finds it humorous, and it good for views also. I like both of them, and Dave is correct.
I would love this as a regular segment of his show... Ramsey Vs TikToks :D
Thank you for providing the link with the video
I used to think she didn't deserve this job and only got it because he's her dad. But now I see that she's the only one that can even come close to managing Dave and getting him to at least explain his stance a little bit beyond just name-calling.
I agree completely. Felt the same, feel the same.
I like the dynamics of these two the best.
She’s a mumbler and inarticulate and I actually find her treating him like an equal awkward
@@SD-ip2wb these people are talentles hacks
I think Rachel is proud of her dad, and she shares his passion, more so than his other children.
I think it's a good thing that a proud father who recognizes his daughter's ambition gave her this career opportunity.
She has a perspective that adds to the content that Dave provides.
Poor Rachel just smiling and nodding when he got going. 😂 *whispers* “okay, let me ask you this question.” This whole clip is great
Did Dave call someone else arrogant? lol.
Why are you watching his videos if you think Dave Ramsey is arrogant for teaching what he calls God and Grandma's way of handling money and he often tells people "do what you want, but this is what I would do." Why are you watching his videos then?
@@jeffwvu4602 are from WV?!
@@hollym1751 Originally yes, now I'm on the west coast.
@@jeffwvu4602 I appreciate that he uses sound advice, lots of folks are put off with his name calling and condescending. Why watch then? Entertainment, maybe?
Love this man. And enjoy his banter with his daughter. What lovely interaction. Love to have dinner at their house someday. That'd be fun
Which father and daughter
I'd pick Dave and Rachel
LOVE this video. Thanks for the AIRbnb tip thats huge! Out the window that idea goes right now!
Some people are so ridiculous, always looking for a shortcut
The fact that they flat out stated a 14% return, as if that was some kind of guarantee, tells me that they've been swindled into some scheme which claims to be arbitrage but probably involves fleecing unsophisticated rubes.
Yeah, I knew a few people get scammed with them investing in this Airbnb concept and left them broke.
The only bad part of the video is the car part but investing on real estate when done right is one of the safest forms of investing lol
@@theAppleWizz every single person I have known who invested that way has ended up broke.
@@lovetobe6118 lol then you know stupid people. Almost all rental house/apt class b or c makes 10% 12% returns.and this is just rentals not Airbnb
@@lovetobe6118 what is an Airbnb concept did they actually buy a house an rent it out after they did their own due diligence or they they invest with someone that promised them a return if they just put x amount of money lol
I’m so glad you made this video Dave
Rachel is brilliant, brings such a friendly and positive spin to the show!
Sounds like he is laying the groundwork for his child to be in all kinds of financially twisted schemes. That never ends well.
It’s what came to my mind 😂
Best laid plans... The fates love those
Very sad. Borrow borrow borrow.
Bankrupt
I wouldn’t be surprised if that’s what he does lol. It’s so ridiculous and amusing when parents film videos with their kids to and direct them to say things that sound intelligent and original when a lot of the time what their saying has already been said numerous times and it’s obvious the kid isn’t intelligent to have came to the point of saying what they did on their own. It’s just a scheme parents do to try to make their kids look smarter and more mature then they are because that helps them meet the goal of looking like such an amazing parent and his case it encourages people in their teens, 20’s and maybe even 30’s to take the advice because they see a young teenager consign the stuff “their selves”
Dear Dave, watching you tear idiots to shreds brings me immeasurable joy. So much so it's probably sinful - pray for me!
Dave literally recommends people to invest in mutual fund
@@grigorirasputin425 rewatch the video. You missed what he was saying
@@jakemckechnie6367 I don't need to rewatch anything... Suggesting actively managed mutual funds is not much better than the advice from an imbecile father and his arbitrage and airbnb
"Oh maw gawd. Was I unclear?!"
Amy, shame on you, and I was sitting here feeling sorry for Dave. He had a defeated looked while the video was playing. Pray for ME. Dave is doing good. He's almost a billionaire. But he just looked so sad. He and Rachel are so cute.
You are right on Dave.
As the daughter speak, watch her dad repeat the same exact words under his breath 😂😂
It's scripted. They both see the script in front of them. They record it in a vehicle so it will look more spontaneous and seem more honest. Had they both been sitting at a desk & said their lines looking at a camera it would not be seen as a natural conversation.
😂 Dave is the dad everyone needs haha
That's why he's "The Papa"
Not me.
@@jimmymcgill6778 What color is your Bugatti?
@@danielabebe6869 probably the same as yours
@@danielabebe6869 Jimmy drives a 1994 Chevy Cavalier 🤣.
My favorite Ramsey videos is Dave and Rachel discussing topics together; the combination of them is very entertaining. Dave was right, that child didn’t even know what she was talking about; she was parroting everything Dad taught her.
* old Dave was far better
It's because Rachel knows she can't get fired. The other coworkers are afraid to step on Dave's toes
Isn't parroting what all children do to learn? You probably parrot things all the time. Books, articles, news, your friends, your spouse. I guarantee that you copy people regularly.
@@Sara_The_Feral_Housewife
That was his point. He wasn't insulting the daughter by saying she was parroting; just pointing out that she only knew as much as dad told her, and dad didn't seem to know very much in the first place.
@@Sara_The_Feral_Housewife I guess you call it bad parroting then lol.
Dave's disapproving frown while he's watching this is priceless lol
Oh, Rachel, what have you done to Dave's blood pressure?! LOL! Great episode.
"so I'm basically getting the car for free". This is so sad. A girl with 7000 pounds in her pocket thinks that the interest on that can pay for a car. Oh my goodness, so sad, she's lost her savings and now she's going to pay for a car that will be depreciated the minute she drives it out the car dealership.
Those are some heavy pockets
If getting 14% is so easy than why are the banking loaning her money at 3.5%? Questions she never asks.
Fffff
@@cbjueueiwyru7472 you made me chuckle. 🤣
In this instance, pound is a currency (typically in the U.K.) than weight.
She thinks she's getting the car for free, but it's only the loan interest she's getting for free. That 14% interest from the AirBnB (if she actually gets that much) isn't nearly enough to pay the $15000 principal she borrowed for the car.
"it's called ahhhbitrage...which is Greek for *stupid"* has got to be one of the best goofy quotes I've heard in awhile.
😂😂
Such a great show!
Rachel's laugh 😂😂😂😂😂😂,
Great moment 😂😂😂😂👌
Let the girl speak, Dave!!!! I wanted to hear her! Lol
I truly hope Dave is not going anywhere anytime soon. I know he has a lot of great people and family to continue his work but no one tells it like Dave with common sense backed by scripture, and data. No BS. No sugar coating.
If he likes scripture so much, he wouldn't hate poor people as hard as he does.... I can't possibly see Jesus ever agreeing with what Dave stands for
@@richhornie7000 he helps poor people lol.
@@richhornie7000 being poor is a mindset, being broke is temporary! He helps with both.
@@richhornie7000 he has a hard kind of personality I agree but it's not only understanding why he is that way but it has worked so many times so he figured it out
Once he passes away this will not have the same effect
First time watching the channel and she has an amazing smile
I wish I could talk to my family about money like this I’m starting to teach myself financial literacy through the one and only himself of course
My moms family taught me that being in debt is good. Thankfully I learned the truth before it was too late.
Dave Ramsey is the real deal. Thanks Dave for your effect on our life.
Most of the time yes he is. When it comes to getting out of Timeshares though, he becomes a little sketchy
She's too young to get a loan but say she takes out a car loan then doesn't buy the car? I believe that would be actionable fraud.
And hopefully the viral social media clip where they encourage others to copy their fraud will be used to prosecute them.
Lol she does use the loan for the car . Why so many people are confused in this comment thread?
@majomillan6257 if she does use the loan for the car, the money is gone and she can't then invest the money in airbnb or anything else.
When I got a car loan, my credit union paid the dealership directly. I never had my hands on any of that cash.
This rant was one of the best 😂
I like how Dave backs it up with studies he's done with millionaires and none of them have done this mess.
Agree this is stupid but everything isn't done with the intention of becoming a millionaire.
His "study of millionaires" may not have had any of them, but they are certainly out there. I'm a millionaire at 34 and do this sort of thing. The secret is to be comfortable with risk, and understand that these are all really small numbers that we're talking about here. $15k, $7k are all very small numbers. You can risk that much money and not be destroyed if you lose a little or don't quite make the returns expected. She's likely buying into her father's existing AirBnB business, and there's always multiple exit strategies if AirBnB gets blocked like DR mentions. Convert to Single Family rental, rent out rooms, corporate rental, or sell the house for a 1031 exchange into another region that doesn't have the same AirBnB restrictions if something bad were to happen. People deploying financial strategies are doing strategy and it's more like a game. I have multiple rental properties and have very detailed tracking processes.
@@gafee2001 You borrow money on your car? LOL. And your average person would get in over their head and be drowning in debt while trying to be this investor. That's why it shouldn't be marketed to all young people across TikTok or Instagram.
@@gafee2001 Curious, when you say your a "millionaire", do you mean leveraged or you actually own (without a bank involved) a million + worth of assets. Obviously we are online and you can say whatever- but asking for honesty here. It seems to me that would be very difficult employing this type investment strategy at 34.
It's because his study was done in such a way that it didn't allow that answer to be given... they knew the numbers of that study before it was done because the survey asked the questions in a way to only get the answers they wanted. His study was extremely biased and it was all based on the wording of the survey.
I love the “I’m basically getting a car for free”. Yeah, after you take out a $15000 loan that you have to pay back and the $7000 you have to put into the Airbnb not to mention upkeep for said Airbnb. But after all that, yeah it’s free.
a 15yr old girl is def going to be cleaning the rental between renters and paying for broken appliances, right???
It's free in the sense that you have to pay for it. A one time fee. Once a month. Then it's free. Reminds me of Portland is :))
The car will come in handy to visit Dad in jail if he's caught for bank fraud.
I love this video so much!
that dad had a spray on beard! LOL
I love watching Dave lay down reality on folks. My day is complete.
His realty, plenty of people have used debt to create cash flow on income properties. She may be doing it for the wrong reasons. No ways she’s gonna make that % unless she’s buying a dump in the ghetto.
There’s no need for him to refer to people who disagree with him as morons or call them stupid. He’s crude and cruel. And talk about calling someone arrogant. He thinks he is the final, all-knowing authority on everything. What an example of Christianity he is?
@@maryrowland5493 oh shut up, he is telling the truth... who cares what he calls people for saying stupid stuff, thats the problem people care more about "how it's said" rather than "what is said"
@@maryrowland5493 ridiculous opinion. See what I did there? And I guess you must've missed the parts of the Bible where Jesus called the Pharisees and others "whitewashed tombs" (pretty on the outside, dead on the inside), "offspring of vipers", "foxes" (unclean animals), and chased the moneylenders out of His Father's temple with a whip. Jesus wasn't a very nice guy when it came to evil and immorality. Disagree with Dave all you want but would you call Jesus a bad example of Christianity? Maybe your own Jesus is a good example of YOUR "Christianity", but the real Jesus is nothing like your infantile view of Christianity.
@@maryrowland5493oh, please.
I love how excited she is to see his reaction to this clip
Her excitement was 🙌🏽 😂🤣
Thanks yall, the most entertaining dose of common sense available in internet land!
Dave did NOT call this man a moron😂😂😂😂😂😂😂😂😂 I hollered!
Love how Rachel can poke at the right spot and get the flood gates to let loose on Dave...🤣
Dave needs to let Rachel speak as well.
@@inspectorjavert5563 yeah that was kind of annoying me too.
He needs to just let her speak and not feel loved or he has to constantly be the one to get the final word in.
Its like teaching your daughter on how to gamble just to win the lottery.
Or borrow money to buy lottery tickets....
Best comment ever
My dad took me to the track and showed me how to place bets and read the program . I was underage and I loved it! My mom had a fit. Dangerous.
@@parochial2356 pretty sure real estate is a little more sound than lottery tickets
Gotta love Rachel... ❤️
I love Dave’s response!
And I would just bet that guy and his daughter talk down on DR’s plan
His first comment was "He's so slimy, you need to take a shower after watching that.." Gotta love Dave 🤣
This is one of Dave's funniest videos. Ever.
And brutally honest as usual ("arbitrage" under his breath) 🤣
It would’ve been great if Rachel wasn’t there messing it all up.
Dave Ramsey asking, "Am I unclear?" was so funny. He cracks me up throughout the whole video. He should consider stand-up comedy because he does remind me of George Carlin in the rant department.
"Arbitrage. Which is Greek for 'I'm stupid'". I spit out my water when I heard that.
I think my favorite thing about Dave is he is rich but knows what it’s like to be broke. He can talk and help you either way realistically.
That ‘dad’ is more of a tool than my Craftsman wrench set
I always see things like this and wonder if I shouldn't keep my money working and finance instead but I like buying with cash and I've never had a car loan. To me it always comes down to my monthly cash flow and keeping it flowing into my pockets while managing income taxes.
Love your advice Dave and you have helped so many people over the years including myself. As a fellow Christian and as iron sharpens iron I wish you would please stop breaking the 3rd commandment.
The least important commandment
@@SweetEssieonly if you have small view of our God.
Daughter smiling knowing dads gonna hate it. Dave put the perfect words to that tic toc advice
I hope that wasn’t a 15 year old. That is a horrible father to let his teenage child take out a loan to buy a car. That is crazy
So what. Rachel looks like she smells stank.
What child has 15k laying around?
You weren't listening, a 15 year old cannot in any circumstances take about a loan. They are not a "legal adult and no financial institution is going to offer any type of loan to anyone underage.
A 15 year old cannot sign a contract
Is there a state where you can drive at 15?
You’re right - there is no secret to getting rich! My dh worked 90 hours/week doing the jobs of three people because he couldn’t afford to hire others for many, many years. Now he is semi-retired with 50 employees, our house is paid off with a very fat retirement income and we can afford to be generous with many charities of our choice. I know it’s harder now than it was when we were young, but working 8-4 and sitting in front of a screen the rest of the time still doesn’t bring in real wealth. When our kids were younger they complained that we went camping for holidays and their friends were going to Hawaii and Mexico. Their Dad told them that when the house was paid off he would take them on nice holidays. We have had amazing trips and cruises with the entire family since the house was paid off - I never regret those choices.
Having cashflow from your actual assets fund acquisition of other assets, or nice things is great. Highly approve. It's certainly creative use of car loan. I like the teaching opportunity of it. It's a relatively small transaction. Should be a good learning opportunity for both the dad and daughter.
Dave’s response is golden. Bless that man
So she spent 7k on a 400k asset that pays her $800 a month? Does not make sense
That makes total sense. Dont work to pay off stuff. Make your money pay for stuff. The numbers don’t add up though unless it’s a fixer upper with a low down payment.
Him mocking the dad tickled me 😂😂
I actually saw this video and thought of Dave 😂
😂
Do you know the guys name? Or his handle?
Don't you love it when us old people get our dander up. I love Dave ranting away. He is right but it is so much fun hearing him speak his mind. Thanks Rachel.
I love how Rachel just braces for impact knowing what's about to go down.
The video was not clear on how much of her 15k loan and 7k cash was being invested in Airbnb and what the cost of the car was.
Please correct me if I'm wrong with my math:
15000 x3.5% apr = 525/yr or 43.75/mo
7000 x 14% apr = 980/yr or 81.67/mo
81.67 - 43.75 = 37.92/mo to put towards monthly car payments? while never paying off the 15000$ car loan?
How fun! What a great daughter Mr. Dave. You are so proud, I know. As is she, of you. Awesome family!
Rachel is too funny!! Her facial expressions are priceless😂😂😂
And cute too
In my country you can't spend money on something else that was borrowed for car. Bank pays car dealership directly by cheque.
Laughing so hard at how much you riled up Dave 😂😂😂😂
This is exactly how the depression became a problem. People bowering and making profits on money they don’t have, then the banks realize this and everything collapses.
That's the whole idea of why people get involved in real estate investing. They borrow money from a bank at a low interest rate with maybe a 20% down payment or lower and they use leverage to control 100% of an asset with a smaller down payment. Then they get to keep the difference if they cash flow on their investment properties. This is what I am doing and I plan on doing this more and more in the future. This is how people get rich in real estate.
@@brandonmiller2171 Yeah, Dave Ramsey did something similar to what you want to do. He got rich young fast buying properties, and when the bank decided to call the note he lost everything fast.
Dave has great wisdom and experience on the topic of Real Estate.
@@brandonmiller2171 What you don't hear are the stories where it doesn't work. I met a guy selling carpets who had tried to do such a thing back in the early 2005s. I am assuming he lost it all since he was speaking in the past tense.
My Airbnb is the lowest price in my tourist area. And it’s brand new construction! It’s been rented just 2 weeks out of the past 3 months. Don’t be thinking an AirBnB is profitable. It is a tax write off, but not a means of making money.
Way to open a can of worms, Rachel. I love your dad's reaction. LOL. Love you guys!
the system only works IF it works. meaning if ONE thing falls off, as rachel and dave gave many examples of things going wrong, it means that the person who's signed for the loan is responsible for all payments. it's kind of foolishness stemming from half-baked thinking of people that think "i am so very smart".
it's especially a bad idea when the borrower has no steady stream of income, savings, etc. life happens. rarely do things go as planned. and especially in this economic climate, the social media guru's economic conniving could fall flat on its face at any time.
No the math does not check out it does not work at all. Regardless of the risk. There is no such thing as intrest only car loans..
I'm curious, how could this ever work though? The 14% is interest only while she'd have to pay principal and interest with every payment for the car. So she'd have to fund the difference between the car payment and the Airbnb interest earned for the length of the loan. Also, doesn't the bank require that the loan be used to actually buy the car, so how could she invest the money? Just seems like a bad idea overall.
Even if the system works, paying cash for a car is still better than getting a car loan. Paying cash for a car results in spending less money than getting a car loan.
So it’s a really good thing I didn’t understand it and it gave me stress 😅. That means I might actually be taking something from this show and others I watch like it.
I love the way Rachel keeps on talking while her Dad is still going over "arbitrage" under his breath....so funny, love it.
Successful people don't become that way overnight. most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life
Most successful ones seek the experience and ideas of financial professionals that help tackle issues on wealth management and growth but claim to attain their success themselves.
To grow your finance, You need a high level of skills and experience from a professional to help make your goals a reality. Get a financial professional like I did and walk into success
Oh, sorry for my late response. I engage in various kinds of investments through the guidance of my Financial Professional and have so far achieved over 500k $ in return. The idea of getting a professional has been great for me, it has shaped my finances over the years; my retirement is looking good.🥂
To get more details about my Financial Professional *(Diana Alexandra Hunts)* ; do quick internet research where you can write her, research her full name above. Give her a try and thank me later .
Good to be here; acquiring such ideas is what many needs to obtain financial freedom or stability.
"I learned a new word and it made me wealthy" 😂🤣😂🤣😂