Dave Ramsey's Total Money Makeover Live! - 7 Baby Steps

  • Published on Jan 4, 2017
  • Biblical financial wisdom explained!

Comments • 795

  • Jurgen Seru
    Jurgen Seru 3 days ago

    It's all true, twenty years ago I bought my house 80.000 dollars 100 % loan at 4.5% 15 years , my wife wanted to spread it over 25 years because the payment where lower and she almost convinced me until my neighbor, who had a financial brain maked it clear that at 15 years the intrest would be 3600 dollars a year or 54000 dollars in total so the total cost of the house would be 134.000 dollars
    At 25 years as where where planning to do the intrest ( that was 4% for 25 years) would cost us 3200 a year ( that seems to be a better deal , afterall your paying 400 dollars less a year , wrong!!
    3200 dollars a year amount to 80000 dollars in interest so the total cost of my house would be 160.000 dollars a difference of 26000 dollars at the time that was 18 months of my income that I would have given to the bank.
    So my neighbor told me look go for the 15 year it will hurt but after that 15 year continue to pay the 3600 dollars only this time put it in a fund, and I did just six years later I bought a second house not for me but to rent out the income from that went straight in to my son's college fund today he is a dentist making 300 k a year no student debt.
    I sold my house for 185000 dollars invested the money and now I live free of rent in a house that I bought I rented out and that 185000 ? 401 k making money every year no more debt, I m free , I can do whatever I want no need to ask the bank for a loan.....

  • Justin Seward
    Justin Seward 5 days ago

    I like the radio show but this is kind of cringe

  • Alison Iara
    Alison Iara 12 days ago

    WOW! Thank you!

  • Sagest K
    Sagest K 12 days ago

    Money this money thst

  • Natalie Harvey
    Natalie Harvey 13 days ago

    Elvis is in the building

  • joe rolland
    joe rolland 13 days ago

    Lol..pay cash for college?

    • Gary Oakham
      Gary Oakham 10 days ago

      You take out a loan and pay it off during college by working part time since the time you’re in college is a grace period you could easily pay it off without any interest or if you do have debt after college it will be significantly less than if you didn’t pay any off

  • Alex McCluskey
    Alex McCluskey 14 days ago

    What year is this from? I saw Lehman Brothers on the stock ticker.

  • Fit Living
    Fit Living 15 days ago

    1 year left to finish college and im up and going man baby step 2 for now goodluck all

  • C T
    C T 17 days ago +1

    I have never owned a credit card. Unfortunately, I don't have a credit rating and can't rent an apartment now.

  • Erika Harrington
    Erika Harrington 18 days ago

    I’m 27. I have 5000 in savings. A 750 credit score and will be graduating from college next year with 40000 in student loans. This video has definitely got me motivated to jump start these student loans. Thank you Dave!

  • Carine Jou Zanfack
    Carine Jou Zanfack 18 days ago

    I didn’t get the 401k thing please help.

    • Alex McCluskey
      Alex McCluskey 14 days ago

      What’s your question? He teaches: Don’t invest in your 401k until you are debt free (except the house) and have 3-6 month emergency fund.

  • Carine Jou Zanfack
    Carine Jou Zanfack 18 days ago

    No government no person will borrow you a dime where I came from ( somewhere in Africa). Because of that I don’t know how to borrow, and so I paid for my school, it was hard but I didn’t know I can borrow so I didn’t, paid an affordable car cash...thought I was stupid but glad I have no debt. Thanks for helping my brothers and sisters Brother Dave. I am Christians too 😊.

  • Mansur Felton
    Mansur Felton 18 days ago

    I just want to say I cal bs on 40:45 “it was really god that did it, it wasn’t you”
    If you put all these into action and give back it was indeed you that did it. So what if you take credit or not, you still helped out.

    • Mansur Felton
      Mansur Felton 7 days ago

      Meghan Rachelle Marks you can’t be serious

    • Meghan Rachelle Marks
      Meghan Rachelle Marks 14 days ago

      You have to follow the Christian logic that "Every good and perfect gift comes from above. Coming down from the Father of lights." If you have something that's good, it came from God. God paid her bill through you, by sending the money to you and moving your heart to give the money. It wasn't you who did it.

  • Waithera Wanjiru
    Waithera Wanjiru 18 days ago

    Great content.... I intend to listen to this over and over again until it sinks in my spirit. May God bless Dave Ramsey for me; He is a Gift in this Generation. I can't wait to manifest success through these great insights. Am forever blessed.

  • terryeffinp
    terryeffinp 20 days ago

    I found Dave not all that long ago and he really got the wheels turning in my head. I cash flowed 100k in tools for work over 6 years and I paid off 47k in debt in a little over 2 years, I got a bit off track due to a workplace injury. Now I am going to work towards saving to purchase a home and my next goal is to have a paid for home before my mid 30s. Dave and his team are a God send!

  • ihavehotmail2
    ihavehotmail2 21 day ago

    it isn't quick or easy, but it is worth it

  • Kelly York
    Kelly York 23 days ago

    Ok Boomer

  • Jay Smith
    Jay Smith 23 days ago

    How do I find one of these good growth mutual funds that average 12% return?

    • Gary Oakham
      Gary Oakham 10 days ago

      Spy is up 22% this year. Where you been

    • Alex McCluskey
      Alex McCluskey 14 days ago

      Just get $SPY or anything thing that tracks the SP500 or NASDAQ

    • Alex Gayer
      Alex Gayer  23 days ago

      Don’t get caught up in the number. It’s the average of the S&P 500 over 83 years. But the point is action. From the man himself: tvclip.biz/video/mHkXjEOQ7aU/video.html

  • Anna Casanovas
    Anna Casanovas 23 days ago

    Thank you so much for this wonderful video! I need some advice... I'm on baby step 2 now. And I have $2K credit card debt at 17% APR. I have $2,000 in savings, can somebody give me an input if I pay off my credit card debt in full using my savings? Thank you so much for any advice...

    • Anna Casanovas
      Anna Casanovas 23 days ago

      I really appreciate your prompt reply and advice. I will follow that! God bless❤

    • Alex Gayer
      Alex Gayer  23 days ago

      Anna Casanovas Use half! Cash flow the rest. Baby Step 0.5 is really get a written budget so you can maximize your effectiveness. Check out the EveryDollar app.

  • Ryan Hutchison
    Ryan Hutchison 26 days ago +1

    I have used these steps and I am debt-free and building my assets on my balance sheet.

  • Daydreaming
    Daydreaming 29 days ago +1

    I found him in my mid 30s and in 4 years my husband and I are from step 1 to step 6 and will be totally free paid off house in 10 to 13 years with retirement funding each year now. Thank you Dave Ramsey!!!

  • Ayodeji Fola-Owolabi
    Ayodeji Fola-Owolabi Month ago +2

    Day 0, I feel like am being punched in the face.

  • yodaflyz
    yodaflyz Month ago +1

    Step 1. $1,000
    Step 2. Debt snowball. Pay all debt except your home. (Run from debt)
    Step 3. 3-6 months worth of expenses. It's Insurance, an expense to protect your money. (Not an investment).
    (Steps 4,5,& 6 are all done at same time)
    Step 4. 15% into retirement (Roth & 401k. Tax Free)
    Step 5. Kids college fund (education IRA. Tax Free) First rule of college "Pay Cash"
    Step 6. Pay off the mortgage on the house.
    Step 7. Build lots of wealth & give it away. Most powerful wealth building tool is your income. "Fun, Investing, & Giving"
    I guess this puts me on step 3.

  • SatiricalSnake
    SatiricalSnake Month ago +17

    I’m almost 19 and I’m glad I found this now. I can avoid mistakes those before me made

  • Larry Fine
    Larry Fine Month ago

    A little bit of Sam Kinison going on here with the gazelle reference!

  • Stevens L
    Stevens L Month ago +1

    P.s millionaire by 65 or less. Promise

  • Stevens L
    Stevens L Month ago

    This is an awesome video, i swear it really just opened my eyes. Omg, i wish i had found this years ago. Never to late though.

  • Ladenna Young
    Ladenna Young Month ago

    Amen I like the advice in regards to counseling. Awe this whole video was a blessing. I'm glad that my cousin shared this with me.

  • Ladenna Young
    Ladenna Young Month ago

    So true! God please help me to follow his advice in Jesus name.

  • Great White North Bear

    How is any of this relevant? You will never get 12% returns. Ever.

  • Nathan Estlund
    Nathan Estlund Month ago

    This should have 100 million views. Shame.

  • I LuV Creation
    I LuV Creation Month ago

    Can I do an ESA to pay off college loans which I have accrued already? lol

  • StrikeZero Freedom
    StrikeZero Freedom Month ago +1

    Should have payed better attention to the book when I was in high school hey I'm 28 time to start is now

  • David FOX
    David FOX Month ago

    Education system, please watch this video.

  • InsideOutside UpsideDown

    Not that is much, but i am not able to stop investing in my retirement. 6% automatically comes out of my salary, its involuntary, i don't have a choice. But after im done with #2, then #3, i will only need to put 9% more into an IRA, or my case, a 457

  • Luminous Winfield
    Luminous Winfield Month ago +5

    I'm so amazed he's unashamed to speak about God and the Bible and if anyone says something against him can't go against his attained wisdom from the Bible and from the fruit of his lifestyle.

  • Shaezawn Barker
    Shaezawn Barker Month ago +29

    Black man under 25, taking this advice and turning my life around not today, but YESTERDAY lol

    • Star Taylor
      Star Taylor Month ago +2


  • GoPro Cowgirl
    GoPro Cowgirl Month ago

    I wish this had been a required class in highschool.
    I'm 21, don't have any debt yet and I'm working the family cattle ranch beside my father. I'm saving to buy my own place since our ranch doesn't have room for me to grow my herd anymore. I would have gone and put myself in major debt if it had not been for Dave Ramsey and my dad hadn't cautioned me so much against it. I still need to take out a loan for the land, but I'm not doing that until I can pay at least a third to half in cash while maintaining my emergency fund. We've never had much money and I grew up I knowing how to pinch pennies to make the groceries last. I'm so glad I found this man that lays it out plain and simple. The app he designed for budgeting, every dollar, is absolutely amazing.

  • Rich Air
    Rich Air Month ago +1

    I want to thank you Dave. My wife and I were in deep financial trouble in the early 1990'S. We bought Financial Peace shortly after it was released and it truly changed our lives. Today due to that book and 7 steps we have been debt free for close to 12 years. And believe me when I say it was NOT easy for us to start the process. NOW No debt, buy our pre-owned cars with cash, use credit cards as cash and can do what we want when we want to do it. What saddens me is that not enough people follow your advise. I have 3 people, 2 family members, i've given your books to over the years that were in deep financial trouble and not one took the advise. They continue to do the wrong things financially. Again, thank you Dave Ramsey.

  • Rl Realy
    Rl Realy Month ago +2

    I need to find a guru like this who is this intense about weight loss! My finances have never looked better after reading Total Money Makeover!

  • Amber Massey
    Amber Massey 2 months ago

    I worked enough overtime last week to cover step 1. Tonight I created a nifty pay off "calendar" to post in my bedroom so it's the first thing I see when I wake up. it's 9 pages (9 different debts) in order from lowest to highest. Each page has the name of one debt in large bold font and in small font at the bottom has the remaining debts. So each time I pay off the debt and go to the next page I have a clear reminder of what I'm attacking while also seeing the debt list get smaller and smaller. We

  • Wanda Lipscomb- Lee
    Wanda Lipscomb- Lee 2 months ago

    Great advice Thank God. I found I'm in Chapter 13 Bankruptcy what is the best way to be on top of the Ladder when I come out of Bankruptcy?

  • M. Yolene Pierre
    M. Yolene Pierre 2 months ago +3

    Alex Gayer, thank you for posting this video. Dave is so passionate about getting out of debt. My dream is not to have that liability, and I am determined to get rid of debt.

  • BossUp Queens
    BossUp Queens 2 months ago

    He has motivated me soo much !!

  • Erica
    Erica 2 months ago +3

    Thank you so much Dave Ramsey. I started your baby steps about 3 months ago, I found $1,000 so much more easily than I ever thought (I sold some things and worked extra, it happens fast!), I've paid off FIVE of my small revolving credit accounts (stuff like Kohl's, Victoria Secret, Macy's, Maurice's, etc.) Now I'm working on knocking down the big dogs; Chase, Capital One and Bank of America credit cards, worth $14,000 total. I am in the process of selling my car to get rid of that payment ($320/mo). I come back and listen to this video for more motivation. I cry sometimes when I hear the gazelle intensity part. I feel the pain you've been through, the pain I'm in, and the pain that millions of others are feeling right now. If you've never been severely in debt, you don't know. You don't know that feeling, you might not pick up on the experience in Dave's voice, but I heard it. I know it. Thank you for shining the light so that others may find their way to freedom. I'll see you in 2020 to do my debt free scream. All the best to you and your family. Thank you for blessing so many others.

  • Matt's Stuff - Slots and Scratch

    11:30: Dave Ramsey Trying To Go Super Saiyan!

  • 1234
    1234 2 months ago

    Guys I have $10 in credit card debt what am I gonna do 😥

    • christian garcia
      christian garcia Month ago

      1234 attack it with a vengeance, start a garage sale anything you can do to destroy that debt lmao

  • Dallas Harvey
    Dallas Harvey 2 months ago

    37:34 if you are considering getting a mortgage.

  • Iraj Matthee
    Iraj Matthee 2 months ago

    As brilliant as his guidance is, I am concerned that the emergency fund of $1000 can't be this magical number to reach in order to progress debt free because it's different for each individual. A person who earns $40k versus another who gets $60k a year the emergency fund is skew. My question is, why is this emergency fund not a percentage figure like the 15% retirement or the 10% monthly savings Dave suggests too?

    • Iraj Matthee
      Iraj Matthee 2 months ago

      @Erica I've listened to his presentation and understand the process. But I feel the emergency fund starter should a percentage figure too because it's very difficult for those who earn very little a year whereas top income earners in debt will see $1000 as nothing.

    • Erica
      Erica 2 months ago

      It is. You need to listen to the presentation. The $1,000 is your *starter* emergency fund. After you're out of debt, then you return your focus to the emergency fund and grow it to 3-6 months of expenses for your family.

  • RISE Investments
    RISE Investments 2 months ago

    When you become 100% dissatisfied... you will change 100%!
    Thanks Dave Ramsey 💯🙏🏿

  • farrell2k
    farrell2k 2 months ago

    Follow these rules and you might have money in your 70s. Wouldn't you rather have it in your 40s and 50s? Invest in real estate

  • Richard Redner
    Richard Redner 2 months ago

    The figures he uses as average in terms of home prices, payments, and general loan terms are a little nostalgic lol. If you get a home on a fixed rate 15yr note and the payment is supposed to stay under 1/4 of your monthly take home.. for me that would be a payment of $600.00, and that would be carried from a loan as follows:
    15yr Fixed rate at 3.64% Interest
    $20,000 Down
    $80,000 Home
    Payment $602.00 per month LOL
    Realistically speaking it would be more like...
    $40,000 down (way too much)
    3.64% APR
    15 YR FIXED = $1,419.00
    30 YR FIXED = $ 996.00
    I would do a FDA loan with $6,000 Down on a 30yr fixed for a payment of $1,151.00 per month.

  • Richard Redner
    Richard Redner 2 months ago +1

    This guys great but I could do without the religious undertone. But damn, hes gonna have a heart attack if he keeps that up lol. He sounds just like Sam Kinison! I swear it!

    • Meghan Rachelle Marks
      Meghan Rachelle Marks 14 days ago

      It isn't a religious undertone, it's a biblical foundation. His entire paradigm comes from the Proverbs, in the Bible. Why get out of debt and save money? Then you die and it amounts to nothing. The reason be responsible with money is so you can live into who you were created to be and spend God's resources wisely. Then on judgment day you'll be handed new responsibility, "if you have not been trustworthy in handling worldly wealth, who will trust you with true riches?" Luke 16:11

  • Dalek Cash
    Dalek Cash 2 months ago +10

    I'm 27 debt free 35k saved up credit score at 700 and planning on buying a home. And I just heard from dave Ramsey and motivated me to go harder=]

  • T7emonic
    T7emonic 2 months ago +1

    I'm 19 and have 6,000 in debt but luckily I'm already tired of being in debt and I still live free with my parents I plan on spending every penny I earn to clearing my debt

  • hexlgaming
    hexlgaming 2 months ago

    Keyword: pre-tax investment (24:45)

  • Y-Travel Travel-X
    Y-Travel Travel-X 2 months ago

    I hate how this people get rich, then tell the secret how they did it .

  • Sal D'Acquisto
    Sal D'Acquisto 2 months ago +1

    Amazon stock for $77 now over $1800. Dave you should’ve told us to buy Amazon

    • Al Pardo
      Al Pardo 6 days ago

      Started investing with Robinhood in early 2015. I remember seeing Amazon below or around $350 and telling to myself nah that's to much, i can't afford it, how many shares can i possibly buy, 20, 30? So I decided to buy penny stocks instead get them in hundreds or thousands. More is better, right? Well I'm here 4 years, and 20k down the drain, later. Going back to baby steps, dreaming of Amazon at 350 :-) and ready to climb the ladder at 46!

  • Omar Araujo
    Omar Araujo 2 months ago +3

    I got them dave Chappelle vibes watching this. Telling it how it is.

  • ethanroe
    ethanroe 3 months ago

    25:10 - If this were true, parents could put $8000 into a fund when their kids are age 18. The kids would have a completed retirement fund, as long as they leave it alone. I've seen this chart before, but I don't get it. In 10 years you double your money (I'm going with 10% here). That happens 4 times in this scenario. 16 becomes 32, becomes 64, becomes 128, becomes $256,000. It's probably a little more than this but still, it's not $5 million.