| Dave's
Thoughts About the Election |
Dave, which bozo should I vote for in this election?
Who’s going to fix the economy? Who’s going
to give me the most money?
Well, I’m here to remind you that you’re
going to fix the economy because your personal economy is
up to you. It's not Washington's job to fix what's
going on with you. If you are waiting on Washington to change
something, you've got a long wait!
You’re going to give yourself money as a result
of your hard work and persistence. Waiting for money
to be taken from others and given to you is a spirit of
envy, and it's wrong.
I’m not here to tell you who to vote for. But I am
here to tell you that the government doesn’t have
the capacity to fix your problems. Washington is full
of bozos, and I am doing my part to send a lot of them home!
This economic mess is a reality, but we can each only control
one thing—our reactions. Does this stuff define you?
Only if you let it. The weird thing about the economy is
that YOU are the economy! I learned this the hard way. I
got my real estate license when I was 18 years old. By the
time I was 21, interest rates had risen to 17% fixed-rate
… and I still sold houses. How? Because I worked hard.
As bad as USA Today meant a recent article to be
about what we think of the suffering economy and upcoming
election, I think it’s rather encouraging that
no one thinks that President Bush or Barack Obama or John
McCain can fix the economy!
This may be the beginning of the biggest level of prosperity
this nation has ever known if we don’t look to a candidate
to fix our lives. How about we say, "I’m going
to vote for the candidate who’s going to fix the nation.
I’m going to fix my life, so leave me alone and let
me do my own thing."
Don't react based on fear or panic. Don’t
look to Washington to fix your problems. Why would you do
that? At what point did Bill Clinton fix any of your problems?
At what point did he cause you to prosper? At what
point did George Bush end your career or cause you to prosper?
When did Ronald Reagan fix your problems? Guess what? I
liked Reagan the most, and while he was in office, I hit
rock bottom and filed bankruptcy—but it wasn’t
Reagan’s fault. It was mine.
So when you go to the polls in a few days to cast your
vote, don’t get caught up in following a political
party or candidate without knowing the issues they support.
Do your research so you can make educated decisions.
Related:
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| Choices
You Can Make to Win With Money
|
Everything that’s being talked about in the nation’s
capital today won’t change squat in your life over
the long run. Think about it. Helping you budget, getting
you the perfect job, or doing what’s best for your
children is up to the person in your mirror. Other people
can help, but the end result is up to you.
Need some help? Here’s how real people over
at My
Total Money Makeover.com are changing their lives:
- Budget
Start keeping track of what you buy and what you pay
at your grocery store. Buy the Sunday paper and keep
the coupons. Then you can see if another store has
something on sale with a coupon that is cheaper than your
store, and you can buy it there. I definitely save money
this way. Also, plan your meals around sale items.
—from mamamaria
- Help
with income
For about 6 months last fall/winter, I delivered
newspapers twice a week for $60 a day. So that was
$480 a month.
I woke up at 3:30 a.m. and I was warm and comfy back in
my bed by 6:00 a.m. most days, sometimes sooner. So, for
2.5 hours I made an extra $60. Then I would sleep for
about 2 hours and get up and start my day.
I must be weird because I enjoyed it to some extent. It
was peaceful, mindless work. It's not for everyone because
of the early hours. And I didn't mind the wear and tear
on my car because I have a beater and my dad could replace
my brake pads for $25 whenever they needed it.
—from Leigh1130
- Motivation
Learning to stick to your budget won't happen overnight.
You're changing your spending behaviors, and that will
take some time.
Some suggestions to help might be to spend only cash,
or perhaps challenge yourself to a no-spend day or
no-spend week. Break your budget into smaller goals
and look at it weekly or daily to see what you can spend.
September was our first entire month on a budget. We did
go over budget (on entertainment and food), but we spent
significantly less than we would have if we not been on
the budget. See if you can cut expenses in a different
category to make up for the overspending.
—from cftil1
It’s pretty rare to find people who are willing to
do these things to win. But every person who does, wins.
There’s one place where these stories and people aren’t
so rare—My
Total Money Makeover.
 Take
your FREE Financial Reality Check now!
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Mike's Story of Sacrificing and Saving
By Mike in PA
 I
finally did it! Over the last 10 years, I've paid off my
student loans, my car, Lasik eye surgery, and just this
morning—the house! In total, I've paid off nearly
$160,000 in debt!
Before I knew about Dave, I already thought I was normal
and doing great. My father and I are engineers, and my mother
is a financial wizard. So when I got my first paycheck out
of college, creating a budget was common sense. I
paid off $15,000 in student loans in 15 months, a $13,000
new car loan in 30 months, and a $4,000 Lasik eye surgery
loan in 15 months, and started saving for a house.
But 4 years ago when I heard about Dave from a friend at
work, I began listening. Soon after, I realized through
Dave that I could be doing so much better. I immediately
cut up my one and only credit card. I literally became one
of those guys who locks himself in a closet and only comes
out on triple-coupon Thursdays. Everyone I know made
fun of me. Many times I felt that Dave had ruined my
life, and I wanted to curse his name aloud. But I never
did. I stuck with it.
I saved up nearly $70,000 in 4 years before buying my first
house for $125,000 with cash. I put $56,000 down and signed
up for a 15-year mortgage of $69,000. It didn't last long.
I realized I could sell the bulk of my gun collection to
pay the mortgage off even faster, so I did. I sold around
40 guns for just over $12,000.
After 35 mortgage payments in just under 3 years, I
paid off the house this morning!
I wanted to say a special thanks to Dave. Without his guidance
over the last few years, I would have never gotten as far—and
as fast—as I did. Of course, many thanks to my mom
and dad who gave me the subtle guidance before Dave, let
me live with them for 7 years out of college, bought me
more dinners out than I care to count, and encouraged me
to become debt free.
Thank you, and God bless.
—Mike
Related:
Read other We Did It! stories
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Four Years of Stupid Tax
By Christine in Atlanta
 Back
in September 2004, my husband and I decided to lease a 2005
Nissan Altima. We were told the payments would be cheaper
than our previous car. So, we drove out of the lot with
a new car paying $412 a month for a 4-year lease.
Since then, we have had 2 kids and added a mortgage payment.
We decided we wanted out of the lease.
The dealers begged us to do a lease purchase, and after
listening to Dave for the last couple of months, we knew
that was not an option. With the lease payment and insurance
costing $512, and 2 kids in daycare costing over $800 a
month, we could not afford to save for another car. We decided
to use the car we own, a 1997 Altima that rides great and
saves us $512 towards a used car.
We have learned our lesson by paying Stupid Tax for
4 years. We now owe $1,200 for over-mileage that I'd
rather pay than get into a new car again.
Never lease a car! It was the stupidest financial mistake
we've ever made! After paying the dealership almost $20,000
over 4 years, we have absolutely nothing to show for
it!
Related:
Read
other Stupid Tax stories
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|
Top 10 Scary Debt Stories |
Last month, we asked readers to send us their scariest stories
about debt, and boy, did they respond! We collected the
Top 10 Scary Debt Stories at daveramsey.com. Here’s
a sample of what we received:
Chased By a Monster!
By Dave in FL
My wife and I are pretty smart people—or so we thought.
We have made a lot of good decisions and have raised a
couple of great kids. Our FICO score has never been below
700. Credit was never a problem. We built a new house in
1993 with a 30-year mortgage at 7.5%. Not too bad. We later
added a pool at 7.0%.
Five years ago, we refinanced the whole thing at 4.75%,
reduced the term to 15 years and rolled our credit card
debts into this "great" interest loan.
Since then, I bought a new $45k pickup to pull our
toys. Now diesel prices are sky high, and my 2-year-old
truck is only worth about $23k.
The truck, card interest, vacations, toys and who-knows-what
have all since been rolled into a scary monster called
HELOC.
He grew slowly at first but somehow has now become larger
than life. Standing $123k tall, his shadow seems to
be a black cloud hanging over our heads.
It will take $1,000 a month for more than 10 years
to climb out from under this.
Do not let a HELOC lure you in!
Other Top 10 Stories Include:
The Scary Effects of Gambling
"Due to a family member's gambling habit, credit
was taken out in my name over the internet—approximately
$18k over a short period of time," Sue said. Continue
Outrageous Truck Payments for 7 Years
While Anna's family was on their way to Sea World, they
stopped by a dealership just to check out their favorite
truck. You won't believe the payment they agreed to for
7 years! Continue
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|
How to Survive the Roller Coaster Economy |
I know that the recent media coverage about the economy
scares investors. The smartest thing you can do right now
is hold on to your investments. Do not cash them out.
That’s what I’m doing. I have a lot of money
invested in the American economy through growth stock mutual
funds. But you know what? I’m not touching those funds.
I’m riding this market roller coaster to the very
end.
Why?
Well, people who make money in the stock market are the
ones who think long-term and don't jump in and out based
on the market fluctuations. Market timing is
trying to predict when to add or withdraw your money in
the market; historically, it doesn’t work. After all,
the only way to get hurt on a roller coaster is to jump
off!
However, staying invested ensures that my investments won’t
miss those best-performing days. And guess what:
if you missed just 10 of the stock market’s best-performing
days over the past 20 years, you would have lost tens of
thousands of dollars!
I honestly believe that 10 years from today, you’ll
look like a genius if you hold on to your current mutual
funds!
But Dave, I’m almost old enough to retire.
Should I cash out?
Nope. I understand you’re scared, but think this
through. If you’re under 59 ½ years old and
cash out your 401(k), you’re going to face penalties
and pay Uncle Sam a lot of tax!
When it’s all said and done, you’ll take
a bigger hit on your money by cashing out than any drop
in the stock market cause. So, even if you want to retire,
you’re better off leaving your 401(k) or IRA alone.
Keep thinking long term. That’s what I’m doing.
I’m not cashing out. I believe the market and my mutual
funds will be okay.
And 10 years from now, it will have been a great decision.
Get
trustworthy investment advice from an professional I recommend
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|
How to Search for a Job You Enjoy |
 If
you’re looking for a job, then the current economy
may have you worried. Many people believe that since the
stock market took a hit, companies aren’t looking
for new team members right now. That may be true for some
businesses, but there are still plenty of opportunities
available.
You can’t just sit there and expect someone to hand
you a job. You need to be proactive and make it happen.
Only you can make the decision to do something with
your life. So get up and start job searching!
Your top priority should be to learn your strengths
and weaknesses. Remember, people who only work for money
are miserable, because there is no fulfillment or meaning
in their careers. You must find something that blends your:
- skills
- abilities
- personality traits
- values
- dreams
- passions
Regardless of whether the economy is healthy or unhealthy,
it’s important to be in a career you love.
If you are just working a J-O-B then you’re going
to be miserable.
After you’ve determined what your strengths and weaknesses
are, you should then identify jobs that compliment your
passions and talents. Next, you need to figure out which
companies you would like to work for and begin to build
a relationship with them.
This is a 3-step process on how to build a relationship
with a potential employer:
Step 1:
Write an introduction letter. This is not a cover
letter; this is just a letter introducing yourself and
explaining that you intend to apply for a position at
the company. Briefly state why you want to work for the
company and the top 3 qualities you bring to the job.
Step 2:
Next, send your résumé and cover letter. Since
you’ve already introduced yourself, they expect
this next step. Create a résumé that stands out, but don’t
go overboard. You don’t want it to be an eyesore.
And make sure you proof your writing! The last thing you
want to do is make a glaring spelling mistake in your
cover letter.
Step 3:
Follow up the résumé and cover letter with a phone
call. In the cover letter, specify that you will call
them on a certain date—and then do it. Even if you
only get a voicemail, leave a message so the person knows
you are serious about getting the job.
Complete these 3 steps and you’ll begin to establish
a relationship with the company before you even meet with
an HR representative or your potential supervisor. Remember,
persistent follow-up and networking results in interviews
and jobs. Even if some companies are instituting a hiring
freeze right now, other companies are doing just fine financially
and are looking for people to fill their vacant positions.
Learn more!
Dave teaches an entire lesson in Financial
Peace University about finding work you love. Find
out more about this life-changing resource.
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|
Give Praise: Bring Out Your EntreLeader |
 “It
doesn’t matter whether the recognition is public or
private and it doesn’t have to be every day, just
as long as someone notices you’re doing hard work.”
– Michael Morton, Dave Ramsey team member
Dave has worked hard to create a thriving corporate culture
that enables communication and affirms positive recognition.
Team members are invested in each others’ projects
and goals and are quick to give praise where it’s
due.
Dave and his leadership team recognize a job well done.
Web team member Jon Wolski was recently recognized by Dave
in a company staff meeting and had this to say about it:
“When Dave remarks about having increased confidence
in my team, it makes me stay up on my game. I was doing
a good job, but now I need to do a great job because I
know it’s what he expects. I work harder after
being recognized because people look up to me as an
example.”
Individual recognition is just as important as team
recognition.
Dave believes that you, as the EntreLeader, set the
example for your team. Your team members will do what
you do, so don’t expect them to be inspired when you’re
not!
Dave teaches that people are motivated by, starved for
and long for:
- Acceptance
- Approval
- Appreciation
- Attention
- Affection
This week, make it your goal to go out of your way to affirm
your team members or co-workers with a positive message.
Send a thank-you note, give someone a handshake or a pat
on the back, and be quick to praise a job well done!
Learn
more from Dave about becoming an EntreLeader
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|
Dave Ramsey Updates |
|
Where's Dave? |
Magazines, websites, LIVE events, TV - Dave's everywhere!
Get
all the up-to-date info
Upcoming LIVE Events
Here is a list of Dave's upcoming events across the nation:
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Check out our newest
stations!
There are over 360 affiliates nationwide.
| City & State |
Radio Station |
Air Times |
| Las Cruces, NM |
KSNM AM 570 |
M-F 10a.m.--1p.m. MST |
| Hope, AR |
KXAR AM 1490 |
M-F 9-11a.m. CST, 8-11p.m.
CST |
| Big Rapids, MI |
WBRN AM 1460 / FM 107.7 |
M-F 6-9a.m. EST |
| Pensacola, FL |
WNRP AM 1620 |
M-F 2-4p.m. CST |
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 There
are a ton 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 this month:
- RSS
Dave
Get Dave's advice delivered straight to your home page!
RSS Dave allows you to get our most popular articles,
stories and happenings delivered to your home page as
they are updated. Get
a list of available feeds
- Annual
Credit Report
Don't get scammed into paying for your credit report by
slick TV commercials! AnnualCreditReport.com is the central
site to help you get your free report once every 12 months
from each of the nationwide consumer credit reporting
companies. Get
your credit report now
- 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 free, high-yield checking 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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|
Quotes About Taking Action |
I find the great thing in this world is not so much where
we stand, as in what direction we are moving: To
reach the port of heaven, we must sail sometimes with the
wind and sometimes against it, but we must sail,
and not drift, nor lie at anchor. —Oliver Wendell
Holmes
Indecision is often worse than the wrong action. —William
Danforth
I know that the seeds I sow I will harvest, because every
action, good or bad, is always followed by an equal reaction.
I will plant only good seeds this day. —Og
Mandino
The vitality of thought is in adventure. Ideas won't keep.
Something must be done about them. —Alfred
North Whitehead
No one will improve your lot if you yourself do
not. —Marcus Aurelius
Some people succeed because they are destined to, but most
people succeed because they are determined to. —Henry
Ford
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|
