Dave Ramsey’s Fundamental Financial Teachings:
- Money problems can be solved by adjusting one (or both) of two parts of an equation: income or spending. When you are in debt you need to either cut your spending or make more money.
- The accumulation of stuff can really weigh us down. Often financial struggles can be resolved by amputating things we have accumulated.
- Credit cards have absolutely no place in the pocket of a financially contentious person.
- People who are winning financially keep a budget.
- A home should only be purchased when you have at least 20% down (thought Dave himself only buys homes 100% down) with your payments (including insurance and utilities) no more than 25% of your take home income.
- All people should be saving 15% of their income towards retirement.