Money Managing Tricks From Dave Ramsey
There are just so many tips and tricks out there when it comes to handling money. Some of them actually work and some doesn’t, that is perfectly understandable though. Not everything that works for one person actually works for others, then again there are also tips that will definitely work for literally everyone, just like these amazing tips from one of the most notable businessman and author, Dave Ramsey.
WHO IS DAVE RAMSEY?
You may have heard his name a couple of times especially when it comes to tips about money, debt, retirement funds and all other stuff regarding personal finance.
Ramsey is also known for his radio program called, The Dave Ramsey Show, that is heard for more than 500 radio stations all over United States and Canada in podcast format. Ramsay has also written a couple of books that includes, not just one, but five, New York Times bestsellers. All of these of course focuses on personal finance, he was even named as Network/ Syndicated Personality of the Year in 2009 by Marconi Award.
When it comes to handling money in a different way, he is definitely the guy to ask. Personal finances is his forte, and almost all of his tips actually make sense, so without further ado, here are some of the greatest tips from the man himself.
STOP IMPULSE BUYING
This is definitely an oldie by a major goodie. According to Dave Ramsey, it is always not a good idea to buy something that you just randomly saw and doesn’t necessarily need. This normally happens especially when people are either out shopping or by browsing online.
Most people find it more difficult to say ‘no’ to things online since all they have to do is to click the payment option, unlike when you’re out, you could simply walk away. According to a survey done by creditcards.com, there are approximately 75% of people in the United States who make impulse purchases, and almost half of them experienced ‘buyer’s remorse’ afterward. Dave Ramsey believes that for the sake of your bank account and conscience, stop impulse buying.
STAY OUT OF DEBT
Almost half of the population of the average American citizens actually considers themselves as broke. Being broke actually means that he or she spent above their means that led them to bankruptcy. According to Dave Ramsey’s book, The Total Money Makeover, people are most likely in debt that eventually led to being broke, one major reason is that they are living way beyond their means.
People who buy things that they cannot afford eventually leads to them being bankrupt. Credit cards, as well as unnecessary loans, encourage people to live beyond their means. If you know very well that you will be able to pay for all the interests then feel free, but it is still not wise money managing because you would always lose more.
SAVE, SAVE, AND SAVE
Dave Ramsey gave a few pointers when it comes to saving on his official website. One of them is the fact that saving itself is pretty easy for people who actually want to save and are willing to do some sacrifices in order for them to save some money. There are apparently so many ways a person could save money, so whatever feels comfortable for you, then go for it.
However, one of the most effective ones that everyone must try is to create a budget. Having a certain budget for everything would let you know how much money you are spending on a particular thing as well as how much of it you are actually wasting. Keep in mind to control your money, don’t let it control you.
BRING IN MORE MONEY
Most people think that by working hard for a long time while saving is more than enough, what people don’t know is that if you actually try to bring in more money by doing small things, it would totally help you out financially. Just like by simply selling a couple of things on eBay or Craigslist or even doing a garage sale every year. It’s all about the choices and the actions you make that would lead you to where you want to go, but if you don’t take control, you might end up in places you never want to be in the first place.
Keep in mind that these tips are actually nothing if you actually don’t try hard to be disciplined enough to follow them. This is for your own financial security, you are the one who would benefit from this so might as well as try until you get used to things. It will definitely be difficult but rocky roads often lead to great places. This is a risk you can definitely take since it will be for your own good.
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