| The Secret to Saving Money |
 Saving money is not a matter of math.
You will not save money when you get that next raise. You will not save money when that car is paid off. You will not save money when the kids are grown. You will only save money when it becomes an emotional priority.
We all know we need to save, but most people don't save like they know they need to save. Why? Because they have competing goals. The goal to save isn't a high enough priority to delay that purchase of the pizza, DVD player, new computer or china cabinet. So we purchase, buy, consume all our dollars away or, worse yet, go into debt to buy these things. That debt means monthly payments that control our paychecks and make us say things like, "We just don't make enough to save any money!" Wrong, wrong, wrong! We do make enough to save money; we just aren't willing to quit spoiling ourselves with our little projects or pleasures to have enough left to save. I don't care what you make—you can save money. It just has to become a big enough priority to you.
If a doctor told you that your child was dying and could only be saved with a $15,000 operation that your insurance would not cover and could only be performed nine months from today, could you save $15,000? Yes! Of course you could! You would sell things, you would stop any spending that wasn't required to survive, and you would take two extra jobs. For that short nine months, you would become a saving madman (or madwoman). You would give up virtually anything to accomplish that $15,000 goal. Saving would become a priority.
The secret to saving? Focused emotion. The secret to saving money is to make it a priority, and that is done only when you get some healthy anger or fear and then focus that emotion on your personal decisions. Harnessing that emotion will make you move yourself to the top of your creditor list. Ask yourself, "Which bill is the most important? After tithing, who should I pay first this month?" The answer is you! Until you pay God first, then yourself, then everyone and everything else, you will never save money.
The advertisers and marketing community are affecting our emotions every day and taking every dollar we have by making us see our wants as needs. It is time for this to stop! Emotions make great slaves, but they are lousy masters. No matter how educated or sophisticated we are, if we are not saving all we should be, we are being ruled by emotions, not harnessing them as financial planning slaves.
So whether you are saving for college tuition, a trip to the family reunion, new school clothes for little Bobby or Sally, or anything else, start saving now! It's never too late!
Click below to take the free Reality Check-Up and compare your current plan with Dave's:
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| Five Important Vehicle-Buying Tips |
Car shopping can be an exciting activity … if you have the money. In all of the excitement, be thoughtful and wise, since you’re getting ready to spend thousands of dollars. Here are some ways to car shop with caution and get a great deal, too:
- Knowledge is key. The most powerful thing you can bring to a car purchase (other than cash) is knowledge of what you are buying. If you know about the vehicle, what it costs and what it’s worth, then you won’t make a bad purchase. What's more, knowledge enables you to quickly spot a dishonest seller and walk away.
- Be willing to exercise walkaway power. This is where negotiations can turn in your favor. If the dealer won’t negotiate, you have the power to leave and find a deal elsewhere. That puts you in control. You’ll think clearly and won't make a bad purchase because you got car fever.
- Don’t get pressured. Dealers or ads will present you with a deal and say it’s only good until a certain date. Or, a private seller might tell you (truthfully or not) that there are other people coming to see the car who sound interested in purchasing. Don’t crack under the pressure. You were doing fine before you knew about the car and you’ll be fine afterward. The world doesn’t end with the deal.
- Ask for facts and figures, not opinions. If you ask the seller what kind of gas mileage the vehicle gets, you don’t want to hear, “Oh, it gets great mileage.” Get a concrete number of miles to the gallon. If you ask anything else about the car that is measurable, get specific answers.
- BYOM: Bring Your Own Mechanic. Definitely have a mechanic you trust inspect the automobile you want to buy. It’s not smart to trust a stranger who tells you that the car is in good shape. It’s your money, so make sure you are getting a quality product.
A little common sense will take you a long way when buying a car. Remember to always pay cash and never buy a new car unless you are a millionaire. Why? New cars go down in value like a rock. If you buy a $20,000 new car today, it will be worth about $8,000 in four years. You’re much better off buying a $10,000 car that is three years old and letting someone else take the depreciation hit.
Have fun and shop smart!
Read the advice that My Total Money Makeover members give about car buying!
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Through with Debt at Only 22
By Donna in NC
I am a 22-year-old stay-at-home mom with one son. My husband is 22 years old and in the Marine Corps. We have always had debt from car loans, personal loans, credit cards—the works.
As of February 2009, we were $26,500 in debt, but as of May 19, 2009, we are debt-free! We sold the truck and the four-wheeler, and I wore stretched out maternity clothes until about six weeks ago. But we did it! We have one car and it is paid off.
At such young ages, it is the best feeling in the world to know that we can pass Dave's teaching on to our child, and he won't suffer the way we did. So thank you, thank you! A lot of people should be kicking themselves, and we are not them anymore!
This can be you! Get started now with your Total Money Makeover.
Read other We Did It! stories
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Credit Cards Are A Headache
By
Chris in NY
I applied for a credit card online that would save me $30 on any purchase made on that website. I promised myself that I would cancel the card soon after I used it.
The first bill came, and I paid it in full, or so I thought. The next month came and with it a bill with a finance charge tacked on. I thought it must be a mistake, since I had paid the full balance a month before.
Then the next month came and with it a bill—now with a finance charge and a $15 late fee from the previous month. I grudgingly paid the amount thinking I was finally done. Nope, one more month and one more bill with a finance charge.
I finally called and canceled the card, but not before my $30 savings had shrunken to less than $10, I had wasted tons of my time, and I had gotten a huge headache!
Related:
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other Stupid Tax stories
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| How to Find Affordable Home and Auto Insurance |
Dave says you should always have insurance to protect the things you care for. But many of us might say the high cost of providing insurance for your home or car often outweighs the benefits of trying to guard them. The truth is there are a lot of expensive rates out there, but it doesn’t have to be this way. Here are some things to consider when you are ready to slay the insurance dragon and start putting money back in your wallet!
Deal locally and independently
To save money and get home or auto coverage that fits your needs, instead of the big insurance provider’s needs, talk with an independent insurance agent in your neighborhood. Independent insurance agents aren’t affiliated with one, mega insurance provider. They’re independent, which means they can pick from hundreds of policies to find the most affordable option for you. If your current insurance agent only sells one company’s product, chances are you will be able to find a more affordable alternative by talking with your local independent insurance agent.
Fight back
If your rates are on the rise, so should your efforts to counter them. You can increase your chances of a better rate by keeping a clean driving record or taking a defensive driving class. For homeowner’s insurance, installing a fire-burglary alarm or even deadbolt locks can help you get the rates you are looking for. Also, if you purchase both your home and auto insurance from the same independent agent, they often honor a multi-line policy discount.
How to get started
Finding an independent insurance agent isn’t hard. But if you want to find the most trusted agent in your city, we can help you. Find one of Dave’s Home and Auto Insurance Endorsed Local Providers (ELPs). Each insurance ELP has the heart of a teacher and is committed to great customer service and finding the best rates for you.
Contact your independent home and auto insurance ELP today to find better home and auto rates and start saving money!
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| Success Stories: We're Winning With Money! |
We always love to hear from people who are winning with money, especially now when the rest of the world is screaming about how “tough” things are. This month, we want to highlight a few radical men and women who refused to participate in the recession and took responsibility for their own money—and won!
Evelyn
Evelyn said, “I have been attempting to get out of debt for some time now. Ever since I’ve been listening to Dave, I have really achieved clarity as to why I am in debt and how to get out of it.”
Ginny
When Ginny first started her Financial Peace University (FPU) class, she was terrified. She felt like she was entering a cave to face the fire-breathing dragon. After finishing the class, she said, “The dragon doesn’t look so big anymore. There is hope; I am going to get through this. Success does not come from a dollar sign. It comes by taking out my sword and being willing to face the dragon. I measure my financial success by my ability to go to sleep without crying, and by no longer fearing the future. I’m not there yet, but I’m on my way.”
Jude
After Jude finished his FPU class, he explained how it inspired him to change his life. “I set and met financial goals. I committed not to go into car debt. I am focused and don’t get freaked out because I now have an emergency fund. Dave’s advice has flooded over into other areas of my life. I’ve changed the way I eat, and I exercise consistently. I’ve become the sure, motivated person I always knew I was but let life and circumstances beat me down.”
Doug
And finally, we can’t help but get pumped when someone like Doug writes in to tell us that he’s debt-free—including the house. “Last year we paid off our final debt, our house. Since then we have had no debt; it’s such an awesome feeling. We are loving life. It’s true that after working so hard to pay things off, I now have money to spend on silly things, but I don’t want to spend it on silly things. It’s fun to give, now that we have money to give!”
These families changed their lives with Financial Peace University. To join a class, type your ZIP code in the box below. Before you know it, we’ll be publishing your victory story to inspire and encourage others just like you.
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| Identity Theft: The Silent Crime That Can Devastate Your Life |
 Identity theft remains the number-one consumer crime in America. Regardless of the preventative steps we take, the reality is that our information is everywhere and we have no control over who gets access to it or how they misuse it.
Identity theft has become more complicated than financial fraud. New account fraud and credit card takeover are the topics you hear about on the news. But it is the non-credit-related identity theft such as employment fraud, insurance and criminal fraud that can be the most devastating and have the biggest impact on your life.
A recently married Dave Ramsey listener in his early 20s was unable to rent an apartment due to his poor credit report. He discovered that his father had stolen his social security number when he was a child. The two men have the same name; one is a Jr. and the other a Sr., so it was very easy for the father to assume his son’s identity and have it go undetected for over a decade.
Over the course of 10 years, the father used his son’s identity to purchase cars, rent apartments, set up utilities and even buy clothes and gifts for his friends. He never paid his bills on time, the cars were repossessed, he was evicted from his apartments, and yet somehow, he was able to continue to establish new lines of credit with different financial institutions using his son’s identity.
Zander Insurance, with the help of the recovery specialists at ID Experts, worked for over five months to resolve this case. They successfully disputed 41 accounts, including 12 credit card accounts, two auto loans, nine unpaid medical bills, five civil judgments and 12 collection accounts. Jeff Zander of Zander Insurance stated, “Family fraud is more common than we would like to think and has to be treated delicately when dealing with the victim. The recovery specialist had to work with law enforcement, the social security administration, a civil court judge and each of the 41 creditors that appeared on the credit report.”
As proven by the complexity of this identity theft case, recovery services are the most important feature of an identity theft protection program. Credit monitoring and fraud alert programs are limited in scope and address less than 50% of identity theft events.
The Zander Insurance ID Theft Protection Program is the only program that covers all types of identity theft and takes over all of the work and expenses if you become a victim. Since the recovery specialist took care of all the work on the victim’s behalf, the victim never had to miss work and did not incur any out-of-pocket costs. He felt relieved that the recovery specialist had taken care of everything.
Protect yourself now by getting Zander Insurance’s ID Theft Protection!
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| The Power of the Written Word |
 “Text me.”
“Shoot me an email.”
“Facebook me.”
“Twitter me.”
“I’ll forward you the link.”
“Just Google my address, and it will show up.”
“You have a new e-card.”
“You’ve received an e-vite.”
In a digital world, the pen has lost its value. Or has it? Maybe the pen has increased in value. Hardly anyone writes letters or even quick, handwritten notes anymore. What if you did?
What if you took five minutes to send someone a handwritten note through the mail, stamp and all? What if you wrote your spouse or a coworker a short note? What if the prospect you just got off the phone with received a nice, written card that thanked them for their time and considering your business?
Here’s a guarantee: 99 times out of 100, it will be the only one they get all week. Probably all month. Maybe even all year.
Go down to your office supply store and invest in some pens (yes, they still sell them) and a stack of simple stationery. Leave them on your desk or in your car as a reminder of your new goal to write no less than two notes a week. Try it for a month. People will actually thank you for the note next time they see you.
When was the last time someone thanked you for an email or a text you sent them?
Get more leadership advice from Dave that works at home and in the office.
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 There
are plenty of free resources available at daveramsey.com
to help you with everything from setting up a budget that
really works to getting a free annual credit report. Here
are a few highlights:
- Dave's Library
Ever wonder what Dave reads and recommends? We have many titles available in our online store under a variety of topics—business, relationships, money, and spiritual and personal growth, just to name a few. Browse the selection now.
- Find Dave's Class In Your Town
Financial Peace University classes are beginning all over the country, so get involved with one in your area.
- Free,
High-Interest Checking on CheckingFinder.com
Dave says, "Start making your money work harder right
now on CheckingFinder.com. Enter your ZIP to find and
open a free, high-yield checking account with no minimum
balance. It's easy to do, and you're done in just
minutes. I've never found a better checking account."
Get
more useful tools here
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Dave Ramsey Updates |
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Where's Dave? |
Magazines, websites, live events, TV—Dave's everywhere!
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all the up-to-date info.
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Those who try to do something and fail are infinitely better than those who try to do nothing and succeed. —Richard Bird
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