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jimfields33

(19,382 posts)

78. He wasn't a millionaire when he filed bankruptcy.

Sat Aug 3, 2024, 11:57 AM

Aug 2024

He became a millionaire because of the failure he said it presented to himself and family. He decided he’d never get in that situation again. Smart brilliant guy.

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Money management tip from a millionaire [View all] True Dough Aug 2024 OP

Would you rather take budgeting tips from a broke person? nt Shermann Aug 2024 #1

This message was self-deleted by its author True Dough Aug 2024 #3

Yes because a broke person is more likely kcr Aug 2024 #25

Ramsey filed for bankruptcy in 1988, so you are sort of getting two viewpoints for the price of one there. Shermann Aug 2024 #27

Big difference angrychair Aug 2024 #66

He wasn't a millionaire when he filed bankruptcy. jimfields33 Aug 2024 #78

I know millionaires who are cheap!!!! jimfields33 Aug 2024 #2

Being a millionaire ain't what it used to be. Shermann Aug 2024 #4

Very good point. jimfields33 Aug 2024 #30

Agreed ProfessorGAC Aug 2024 #74

My roommate from college is a multi millionaire Turbineguy Aug 2024 #11

Yep. I know the same. Generous too. jimfields33 Aug 2024 #31

but they told me the rich newdayneeded Aug 2024 #81

I know a couple of those, my neighbor with $ 4.8 doc03 Aug 2024 #34

Some makes such sense. jimfields33 Aug 2024 #43

He said they don't care at the soup kitchen doc03 Aug 2024 #48

It's not that. But was it delicious? jimfields33 Aug 2024 #49

Less left for the truly needy, though. AloeVera Aug 2024 #55

I'm worth substantially less than $4.8 million True Dough Aug 2024 #64

"just evil" and "thrifty" dpibel Aug 2024 #59

With inflation over the years being a millionaire isn't rich like the 1950s. If you are old enough doc03 Aug 2024 #90

This is Ramsey's brand message. yardwork Aug 2024 #5

Fair. True Dough Aug 2024 #6

I doubt that he's suggesting that people don't eat. yardwork Aug 2024 #10

He doesn't even say, "Never eat steak." Wednesdays Aug 2024 #16

And waste. That's my weakness. I need moonscape Aug 2024 #24

I'm guilty of the same. Xavier Breath Aug 2024 #58

Well, ya know True Dough Aug 2024 #65

Oh believe me, I've already sorted through all the pizza coupons. Xavier Breath Aug 2024 #73

Enjoy each slice! True Dough Aug 2024 #75

Our household can't do rice and beans Zoomie1986 Aug 2024 #92

I'm not a vegetarian and I love an occasional steak. yardwork Aug 2024 #93

LOL, the soothing car salesman who tells you how great this Tadpole Raisin Aug 2024 #13

managed well, a 6-year loan can save you more than a 4-year loan.... lastlib Aug 2024 #46

Yah I've done that but for those whose budget does not allow that so Tadpole Raisin Aug 2024 #53

A lot of his financial advice is so simplistic it hurts my brain tinrobot Aug 2024 #26

You have to be disciplined to do it the way you do it. jimfields33 Aug 2024 #44

Good example! True Dough Aug 2024 #67

I'll one-up you on that NJCher Aug 2024 #79

I've followed him to a T for years. jimfields33 Aug 2024 #33

I came up with his 7 Baby Steps on my own Shermann Aug 2024 #63

Excellent! I'm shocked by the negativity. jimfields33 Aug 2024 #68

For a lot of people that is a load of shit. edisdead Aug 2024 #83

He wasn't necessarily saying "Eat less." I think he's talking about buying generic brands, using coupons, Deek1935 Aug 2024 #7

It has always left me dumbfounded at the almost universal ignorance... Hugin Aug 2024 #19

I Do That All The Time ProfessorGAC Aug 2024 #76

In a few cases it does require... Hugin Aug 2024 #80

Good Point ProfessorGAC Aug 2024 #84

Grocery shop at local independent International markets seleff Aug 2024 #60

I LOVE the Dekalb Farmers Market! Dulcinea Aug 2024 #89

If money is tight you have probably already learned those lessons. Tadpole Raisin Aug 2024 #8

Ramsey's audience is the people who are deeply in debt and can't figure out why. yardwork Aug 2024 #12

Only in America. marble falls Aug 2024 #9

Money management tip from a thousand-aire. usonian Aug 2024 #14

Yes. DeepWinter Aug 2024 #23

Of course you can work your way to being a millionaire. jimfields33 Aug 2024 #37

Living on less than you earn is the ticket. Pinback Aug 2024 #85

Totally understand!!!!! jimfields33 Aug 2024 #91

I agree with him here but, newdayneeded Aug 2024 #15

Depends on what the balance was left on that mortgage Wednesdays Aug 2024 #17

she said $200,000 newdayneeded Aug 2024 #18

$200,000 24 months would be newdayneeded Aug 2024 #21

Also depends on the interest rates, market returns... tinrobot Aug 2024 #32

Kids should take out loans and get grants whil parents jimfields33 Aug 2024 #39

Cutting the crew on my yacht from 20 to 17 saved me almost $100,000 a year! Buns_of_Fire Aug 2024 #20

I saved way more... I bought the lake. Hugin Aug 2024 #28

My space station is very efficient on fuel and utilities Shermann Aug 2024 #61

For zipping around the lake, may I suggest this baby? Pinback Aug 2024 #86

Wow, that is cool! Hugin Aug 2024 #88

I hope you put the three former employees on your yacht True Dough Aug 2024 #70

Individual advice for a systemic problem. WhiskeyGrinder Aug 2024 #22

Did he post it while shopping at Bristol Farms? NameAlreadyTaken Aug 2024 #29

Yes, please! Dear God, millionaires! Don't ever suggest that working people Aristus Aug 2024 #35

Working class has gotten the biggest raise probably ever jimfields33 Aug 2024 #40

You reacted the same way I did! True Dough Aug 2024 #71

Some expenses are manageable Keepthesoulalive Aug 2024 #36

There are always exceptions to the rules. jimfields33 Aug 2024 #41

People can't save for tens of thousands dollars in medical expenses Keepthesoulalive Aug 2024 #51

The medical system requires an overhaul True Dough Aug 2024 #72

I think that Dave and Simon Sinek are both pedantic toads.. JanMichael Aug 2024 #38

Richsplain? jalan48 Aug 2024 #42

The thing about explaining, rich or not, is that people jimfields33 Aug 2024 #45

OK-how about throwing in a little income redistribution with the sermon? It will be more believable. jalan48 Aug 2024 #52

Nothing worse-- Long late night drive home after 12 hour day, and finding Dave Ramsey is on only thing on radio. Silent Type Aug 2024 #47

A broken clock is right twice a day, as they say NickB79 Aug 2024 #50

He's right, though, and I'm not a Ramsey fan. Wingus Dingus Aug 2024 #54

I knew a couple worth over 100 million jg10003 Aug 2024 #56

Cut back the housekeeper from four days a week to three! LudwigPastorius Aug 2024 #57

Solid advice actually MissB Aug 2024 #62

Yeah, I'm surprised he went after "groceries" Shermann Aug 2024 #69

I would say restaurant tips rather than grocery tips. That said OnDoutside Aug 2024 #77

I did stop eating avocado toast. Voltaire2 Aug 2024 #82

Sounds like a great idea. Grocery prices have remained so high that ...... SupportSanity Aug 2024 #87