Do you know someone who just can't seem to be able to save up a thousand dollar emergency fund? Saving up a thousand dollar emergency fund is step one of the 7 Baby Steps to get out of debt and prosper.

30 Ways to save $1000

Having a few Ks saved and handy sure lessens the emergencies in life.

Dave Ramsey's a good man and sure helps a lot of people! We got out of debt by utilizing a budget and paying bills very much like Dave Ramsey recommends, just did it before I'd heard of him. I still love to listen to his radio program today because it's very inspirational and helps remind me of where we came from.....

I enjoy listening to Dave

His concepts really new and cutting edge

Live on less than you make
Save some money
Don’t buy stuff you can’t afford

Crazy.....

Last month, I turned around in his parking at DRS in Cool Springs right off I-65. He moved about 2 yrs ago from Brentwood just a couple miles up the road


Good grief I bet he has 1000 people working for him. Parking lot looked like one of the airport out-lots

It’s good to have a few thousand saved. Good guns come along sometimes

I agree, but it's not "new and cutting edge". Bruce Williams was talking the same general plan on the radio 30 years ago.
I listened to him driving big rigs in the middle of the night. He helped me invest in the future just like Dave Ramsey.

Hey Tiger..........

(Bruce Williams)

I thought of Bruce the other day,
deli had Pork Roll on sale.

(Nasty stuff) I liked Bruce.

I already do almost all the things on that list and I've never read Ramsey's book. Most of it's just common sense and stuff that's practiced naturally by poor country folks who were raised to be frugal and practical. Those things are the reason I've never in my life financed a car, had a credit card or financed anything other than my home, despite the fact that I've never made much money. Everything is cash and if I don't have the cash I don't buy it period. I don't believe 1000.00 is enough of an emergency fund these days. I always try to keep at least 3k in mine and that's in addition to my regular savings account.

I work in a factory. Bet 50% have filed bankruptcy and not been without a paycheck.
Most take off work anytime a bonus comes along, so they make the same as if working reg.
They bank nothing.
Drive new cars, eat steak for dinner...........and they cry when the manager won't let them work Sundays (double time).

$1000 is the starter emergency fund. He recommends 3-6 months expenses for fully funded emergency fund in step 3. Step 2 is paying off al debt except the house and that’s where most people struggle

I can't remember if Ramsey said it or someone else, but it's 'if you have to finance a car for more than 3 years, you can't afford it'. These days 5 year loans are very common. People don't add up how much interest they pay during that time. Even at 3 or 4%, it's a lot.

Lol, no, Ramsey didn’t say that.

I like listening to Bruce Williams, he was a good egg. Bob Brinker introduced me to the idea of achieving “critical mass”, or not having to work anymore. Dang it if I didn’t get there, and dang if am not still working just as hard...... having too much fun to quit.

The moral of the story is that it’s good to have goals and a plan to get there.

I gotta wonder...........................how many tats do I have to forgo to save up that $1000?

Geno

PS, I try to finance cars at 0% like the "new" one we have now. Why not use Toyota Financial's money to get my wife a newer vehicle instead of eating into our cash?

[quote=Valsdad]I gotta wonder...........................how many tats do I have to forgo to save up that $1000?

Geno

Only 2 or 3 if you have a good artist! 😉

Sometimes, a 12 month same as cash can make sense on an unexpected emergency expense. Did it on tires once. Paid it off early.

Jeezus.....I am so sick of hearing about this fuggin guy.



Piss on him......I might just go broke to spite him.





Dave fuggin Ramsey. I bet the caksucker has a book he will sell you.......

I'm not sure his books are pertinent to MT farmer/rancher economics.

Geno

Well....just as long as no one accuses me of overreacting..........

overreaching at times.

overreacting..............hardly.

Geno

Yeah, scrimp and save every penny so you can leave it for someone else. Me, I'm going to enjoy the ride.

Keep an eye out for other life changing links like: "

"How to Wash Your Hands"

"Chewing Gum Whilst Walking"

and

"Shoelaces, They're Not Just for Grownups Any More!"

Imagine that... a guy selling something to people who cant afford anything... and he’s getting stupid uber rich doing it.. and the masses praise him as if he was sent here from the heavens.

Depreciation is real.

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/58-americans-less-1-000-090000503.html

There is no such thing as zero per cent financing. There is interest built in to the price or there's a hook somewhere in the bait.

The mind boggling thing to me are the people leasing cars.

For a very small subset of people it makes sense (low mileage drivers who enjoy news cars such they would buy/sell every couple years anyway).

I would think that a whole lot of people look at their available credit as an emergency fund. How many people have a credit card “just for emergencies”.

Ain’t saying it makes financial sense.

I’ve long since moved on. I listened to him in 1998, 1999-2001. Went to a show of his around 2001, drank the kool aid...etc etc. We paid the house off , never financed another car,

Nothing earth shattering about what he says, but when you hear it and realize you’re a slave to all this crap, it wakes a person up.

Have to be living in a cave and dragging your knuckles if you haven’t heard of the dude.

Jim, you can't buy any more guns that way.

That's funny. I like Dave, but I think there might be a Jew in the woodpile, because Dave does like to make a Shekel or two. Yes he has a book he will sell you. And a set of cassettes. And he is doing a seminar soon, coming soon to a town near you! Give your Shekels to Dave!!!

Yes I like to listen to Dave. His two main points to build wealth are:

1. Don't get buried in student loan debt. I remember a guy called, he was 26 years old and had $43K in student loan debt. He was working at Burger King and had a 4 year degree in Anthropology. He said he was on the Dean's list.
And Dave said, "So you had a 4.0 average. You are a bright boy, huh? Well then, why, when you were a high school senior, didn't you do a little research, and find out that you can't get a job with a 4 year degree in Anthropology?"

2. Don't buy a new car and don't finance a car. Dave says, you cannot afford a new car unless you have $1 million in assets.
Dave has the statistics, the average payment for a new car is $508, and the average length of loan is 78 months. Six and a half years.
What a fortune a person is paying in interest during that time, and every year, the car drops $3 K in value.

Dave's advice is just common sense to most of us, but, there are a lot of stupid people out there who really need Dave's advice. He is doing the world a favor.

You're right. I tried to find who did say that but couldn't. Ramsey said to not have a car payment at all. Drive a beater for a while and save what you'd be paying for car payments until you have enough to pay cash for the car you want.

If you look at Ramsey's history he screwed up financially about as bad as humanly possible at one point. Most of his advice is geared toward helping people not fall into the same mistakes he made. As a rule his advice is good, but more conservative than most financial experts would recommend. Probably good advice for someone has already screwed up to get back out of debt. Probably not the best advice for people who have not screwed up and are looking to actually make money.

Dave likes to cite examples of how you can throw away money buying a new car. You have a 30 year old couple, they each buy a new car every 3 years. I have known couples who do that, not rich people, a paramedic and his wife an xray tech.
Driving the car off the lot, costs $3 grand in immediate depreciation, because now it is a used car. Increased insurance cost, increased tax tag and title, and annual depreciation. A loss on each car of about $6 grand a year.
$12 grand combined, lost each year.

Whereas, do like I did last year, I am a good Dave Ramsey boy, I bought a 9 year old Nissan Frontier, always garaged looks like new, paid $16K cash for it.
Virtually no depreciation, maybe $500 a year.

So the couple is losing, let's call it $10K a year more than the Dave Ramsey guy. Take this couple to age 60, they have lost $300K over the course of their lives, for the privledge of having the new car smell.
But that's not all. Dave loves the stock market, these indexed stocks. Average annual return is 12 percent.
If this couple had put the $10 grand each year into the stock market, in 30 years it would have turned into around $1 million.

So there you go, follow Dave Ramsey and you are a millionaire upon retirement, but, buy new cars all the time, you will be broke, and on Social Security when you retire.

We bought a Toyota Highlander last summer. We found a dealer demo with 7k miles, priced $7k below new price. 7k miles is nothing, hardly broken in. The car is immaculate and has most of the warranty left.

I don’t agree. Yes, in a sense, Ramsey’s advice on managing your household is conservative by today’s cultural standard: don’t buy it if don’t have the cash to pay for it, and don’t buy a house unless the payment is comparatively small. Invest rather heavily in retirement and pay off your house quickly. We don’t do that in this society much anymore. You could call that conservative, but I’d rather call it prudent.

On the other hand, Ramsey’s advise on investing is much more aggressive than the investment community “consensus”. Keeping a couple in their late fifties invested in the market is enough to give fiduciaries (and annuity salesmen) the heebie-jeebies.

As far as applying to ranching, you could do it, but it would bean awfully small ranch for a long time....... then again, nobody would ranch today if financial returns were a significant consideration.

I laughed my ass off, one called in years ago, paid $3000 for a monkey.

Used to do a Pets and Money hour.

brokedicks blowing $5k on a parrot, salt water fish tanks

Advice on cars and houses is one thing, but if he tells me that I have to switch from Doritos to the store brand, I'm out.

The greasy Save a Lot generic chips are for the welfare Mamas.

I didn't know people had to be told to save money

nem Clancy’s down nar at th Aldi ain’t bad 😃

I think the campfire should pitch in a purchase the Ramsey course for Big Stick..... he is the poster boy for what not to do... hahahahhaha

Yes, they do, and most won't listen. Next time we have a serious recession or depression, watch what happens. It will be a disaster for the majority. They'll lose their jobs, the unemployment funds will go broke, and they'll have nothing left to buy food or pay bills.

I think that's Suze Orman.

One thing to remember: Half of the population is below median intelligence.

Some folks need the basics, repeated loudly and often, in order to learn and maybe put into practice. Add into that some moral or emotional accompaniment to make it stick better.

Of course, self-identified smart folk can get their financial jimmy in a twist, too.

What does the Great and Powerful Oz Ramsey have to say about Golden Corral and CiCi's lunch buffets? OK if you don't put them on the Visa card? Good only if you clean your plate? Best if you can find a roach and bring it to the attention of mgmt and get the proverbial free lunch?

Geno

Yes.

But how much does that matter when one is going to drive the car until the wheels fall off?

Geno

Everyone has a different relationship with money and a lot of that is passed down.

My folks didn't pass down much in the way of that relationship.

Our family is not on the membership rolls of the 1%.

Geno

I tried to make the sarcasm obvious.

Most of it is common sense. But most don’t run their finances with common sense. Most folks are broke even if they make a good income.

Some of it is less obvious, I’ve heard Dave say some things that didn’t initially make sense to me but if you think about it, it would improve most folks situation.

Like the concept that available credit results in folks spending more money. Pain association with cash spending. Finance a boat, sure 50k on payments are easy! Cut a check for a boat, dang it 25k is a lot of money, do I really want to spend 50k? Maybe but 25k is a damn nice boat..... most folks will spend less with cash. Buying a car with zero % interest when you aren’t in a position to pay cash (meaning you can’t afford it) results in the vast majority spending more money than they would if they bought what they could pay cash for. Or using credit cards instead of cash - you spend more money. Actually Dave says you shouldnt buy a new car at all unless your net worth is 1 mil+, but he also says new cars lose 60% of their value after 3 years. general rules of thumb - my tacoma retained 60ish% of its value after 11 years and I don’t thinks it’s a bad deal to buy new (but cash).

I don’t follow it all but the advice is good, most folks personal finance is a disaster.

Not much other than this is one hellava good deal for $8.93!!!!
LOL!!!

It's cool that Dave says new cars lose 60% of their value in 3 years. That's not an issue for us, as we plan on owning it until it basically has "no" value. I really don't give a hoot if the car lost 100% of its value when we drove it off the lot. At the 0% interest we bought it for, it made more sense for us than taking money out of savings, given what the return on investment has been the last 3+ years we've had the car. We're keeping the car anyway, so we have no interest in how much value it holds. It was purchased as likely our last "new" car in retirement.

We bought a Toyota Matrix at 2% interest, decent down payment, in 2003. It's sitting in the driveway as I type. My investment account then was pulling in nearly 10%. That car has depreciated substantially I'd say, except it still has value for us as a daily driver, good weather, low insurance cost, low maintenance/high MPG vehicle that keeps the miles down on the new car.

The new car was a necessity as my wife was relocating for work to an area that has seen snow in every month of the year, ,with freezing night time temps a regular occurrence from Sept until June. The Matrix is 2WD, so we wanted to get her an AWD with newer safety features. And we hadn't had a new car for 13 years +, and we needed a bigger vehicle for the dog crates as the Matrix types no longer fit them due to changes in body style.

Where did I go wrong in getting my wife (and myself) a new vehicle, at no interest, while our savings is still earning good money (7%+ this year I think), she was safer driving into work in bad weather, the oil changes/maintenance was tossed in with the deal for three years, and we have a car that's going to last well into our retirement.............maybe until we no longer can drive?

Dave, and other financial experts have a lot of good ideas, but sometimes their ideas don't fit everyone's needs and wants.

Geno

#1.
Ran into that many times as a army recruiter for 3 yrs
(people with useless degrees)

Join up as a e- 4 with your 120 credit hours on your transcript.
4yr enlistment.
Pick your job and options.
Unca suga pays off your student loans up to 50k graduated over those 4yrs.(probably more now)

Elect to get out.
Reenlist.
Stay enlisted move up that food chain
Change your enlisted job move up that food chain if ya aint locked as a e- 6 to your intial one by then.
Apply to go to Benning Boys school/OCS cause you already have a 4yr degree in place and get commissioned as a 2LT with prior service pay scale.

Lay it all out to em.



They would rather default on the loans, collect welfare, or live with mommy and daddy.



50% of civilians in this country are leeches on the taxpayers nickel....

We have an '04 Pontiac Montana 7 passenger minivan. I bought it from my mother when she gave up her license in '07 and have put 140k on it since then. It's got 210k and is still running fine, getting 22-24 mpg and using almost no oil. I had the tranny rebuilt at about 120k. We don't use it for long distance travel anymore as I don't trust it but it makes a great runabout to save miles on our newer car and pickup. I'll run it until it falls apart. It costs about 300-350/yr for tags and liability insurance.

Dave presses folks to get rid of debt. Consumer credit debt.
But there is such a thing as "good" debt. Solid mortgages for primary residences being one.
When assets are such that a consumer debt can be covered 100% at any time during the term, it is a different ballgame.
But carrying debt, even at 0% APY, is a stressor one can find ways to avoid.
Debt free is a big freedom. Big.

Lose debt, watch assets and cash grow!

I paid off the mortgage in '07. 13 years debt free. It enabled me to retire earlier than I'd planned.

he says if you weren’t a slave to car notes, you could have more money at the end of the month to save for Taylor Swift show in New Zealand Like Duh!!!

There's nothing that people enjoy more than talking about others spend money.

I could give a crap.

I'm just glad everyone is keeping this economy booming.

Was one gal on that show once, she had 100k in student loans for a music degree.

She was making $600 a month playing 2 operas in the symphony blowin a clarinet

I believe he told her get with it and start delivering pizzas in the evenings after she found a day job.

Kind of hard to argue, with the concept o being out of debt, being financially responssible, and living within your means. Those that nash their teeth at that are usually in the worst financial shape. The borrower is indeed slave to the lender,even in 0% car loans. Quit making those payments, and they will indeed come and take your car back. Own it,and nobody ever will.

Jesus Christ...

Three more mortgage payments to go and I'm debt free..

I liked the book Die Broke.

Your last check should be to the mortuary, and it should bounce.

My kids ain’t gettin’ nuthin’.





P

GD Biotch din't tell me she was headed there. For fuggs sake, I coulda saved money for the show and maybe one of them fancy hunts for the funny horned "elks" they got there.

Just saw Halsey on the SNL, I might have to switch allegiances from TS, Taylor's starting to get a bit old now too, doncha think? Gonna need botox in the forehead for wrinkles soon.

Geno

It's OK Dave,

I think it's just a protest against the evil "Profit Motive".

Geno

Taylor Swift mama gots a toomuh,

Halsy sounds like she’s drunk on cough syrup

‘Course, towards the end of life priorities shift somewhat.

I figure I’ve got one vehicle left in me, prob’ly a Toyota something, and will run it for twenty years or dead whichever comes first. I can make payments and drive it upon purchase, or continue to try and drive my two old junkers for another four years at a savings of about $4,000.

Would it be worth it to me to spend $4,000 extra in payments over four years to have a reliable vehicle all that time? Absolutely.

Prob’ly buy used when the time comes, I browse CarMax for relaxation.

I’ve been driving company cars for 22 years. Bought my ‘97 Ford F-250 Powerstroke used from my dad, the original owner. Just the house to go, maybe 3 more years.




P

Pos cars are easy to own, in the age of cell phones.

Also pos cars will go 200-300k miles if you don’t do no starsky and hutch type chit.

Back before cell phones, cars were played out at a 100k

Busting a u joint and no cell and having to walk 5 miles to the first hatchet murderers house always made for a bad day.

Wrong thread man... but I still dont see him?

Taylor Swift is a fugging goomba.

A rich goomba. ..

Lurch,s semi good looking kid sister from the Adams family whose world revolves around a couple of stupid cats that need the good ole back up 5 and punt treatment.

270 and 370 thou on the ones I’m running (the older one with a 170 thou salvage motor, still doesn’t burn oil) The school auto shop has been keeping me afloat these past few years, that and the fact they’re Toyotas

Good for you!

We bought furniture on one of these deals years ago.
I ask the shop owner what the hook was, no one gives me a couple
grand for six months for free.

He said, "I was just going to warn you."


It was through a small bank/high interest loan place.
They actually do it for free.

HOWEVER. the interest is calculated at around 25%, starting the day
you sign. No payment plan. No required payments for six month.

IF, you don't have it fully paid off before the 6 months expire, you go on a
monthly payment plan.

And owe all the interest from day one.

He told me that this costs
him nothing, he recieves nothing.
It does allow him to sell more furniture.

And, while it is a benefit to his customers,
He goes beyond Truth-in-lending rules to explain the situation to
people.

I would love to know the ratio of people who benefit/dumbasses who
get screwed.

Well, screw themselves.

Sheeeeit fella,

what the heck you think the roll of tie wire was in the toolbox in the trunk for? That and some ducktape, wire up that joint, wrap it good with the sticky stuff, get you back to the main road if you take it slow.

If it's a long ways you might have to repair the repair a time or two, but I'm not one for stopping at strangers houses on dark roads, specially as good lookin' as I am.

Some 'ol bearded toothless hag likely to snatch me up at gunpoint and have her way with me.................no way sailor, I'm a big proponent of tie wire and ducktape.

GEno

Sounds like it meets your needs. For others, like me, it would not. Different needs for different desires I suppose...

I love these threads!

Just by seeing all the payday advance businesses popping up around our small town lately, I’d say there is definitely a need for a guy like Dave Ramsey.

I suspect it would meet your needs just fine, Ed, but not your wants........

Wife and I buy a new car about every 4 or 5 years, get about 60K on them and they seem to sell for a little more.
I bought a new 2017 Explorer with cash, then a year later wife bought a new 2018 Terrain. We were going to pay cash but the dealer said he could give us another $500 discount if we financed with GMAC, I asked if the was any penalty for early payoff and he said none. Made one payment then paid it off, easy $500. I figure from past experience, trading in our cars is like getting a 40-50% discount on new ones.
We have no dept, house paid for, condo paid for, 3 cars paid for, only monthly payments are utilities, gas, food and some fun.
Unlike others here we have set up a trust fund for our kids, we brought them into this world, we figure we can help them out when we leave this world, both wife and I did receive some $$$ when our folks passed.
We have been lucky in life and money, from food stamps in college and student loan dept, to paying for our three kids 4 year college degrees, they seem to be following the same course in finances that we did, so now at 75 we've been married 53 years (that's a big money factor vs. divorce) and have stayed healthy. What worked for us may not work for everyone, but saving and investing from our early 20's has paid big dividends now.
Luck, good health, good marriage, and a good education was the secrete to our success.

I like Dave, and believe he provides a valuable service for most of America. It's really rather simple though......get out of debt, live on less than you make, invest all you can.

The economy is booming........

Exactly. If I’m seeing this now, what will happen when it isn’t?

The economy is booming.....

Perfectly,

Blatant, and at times extravagant, consumerism keeps it rolling.

Consumers with no debt and money to spend are the lifeblood of the economy...............

Consumers with no money, but a good payday loan within walking distance also are the lifeblood of the economy..

Frito Lay isn't paying dividends if they aren't selling Doritos and Cheetos to the masses.

The economy is booming............................until it isn't.

Geno

Half of America saves and invests.
Half of America lives paycheck to paycheck.
Ramsey is trying to bring the bottom half up.

Its comical to me. The economy is booming. Everyone is happy happy.



People have already spent their inheritance to keep the consumer ball rolling. Driving themselves into monstrous personal debt.



Perfect Keynesian principal. Spend all you have and then borrow the rest.......keep that economy booming!



Then someone comes along and sells you a book about how to not be good for the economy.


Where is the stock market at today??




Schit.

.....now that is funny.

I’m thinking it’s more like 20%\80% savers versus paycheck to paycheck.

Half of America pays no taxes. Most of those are on welfare of some kind. They save nothing. If the government check doesn't come on time, they're screwed.

At least half of those who are working for a living also save no money.

Consumers do not spend for the sake of the economy. It is all about self satisfaction.

But, the profit from selling books about how to not be good for the economy is good for the economy, right?

I can't remember, is that Aristotelian logic or Avicennian? (Ibn Sina, an Uzbeki Iranian it seems, so we hate him offhand already I think)

Geno

The truth is that some azzhole is always ready to take your money.


From the Dave Ramsey's to the Wall Street banker.



Just be sure to have enough saved for the nursing home. First rate accommodations start at a paltry 10,000 a month.

Every time I spend money foolishly................


I consider it Geno's Economic Stimulus Program.

If presidents can do it, why not me?

After all, if it'll help one child because it gives some of my hard earned money to profit and taxes while I get some trivial bauble out of the deal, all's good.

Geno

What about MT wheat farmers?

They don't want my money too?

Geno

PS, does your wheat go to the King Arthur flour company? Bob's Red Mill? We eat a lot of bread here..............in the interest of the MT economy you know

Bob's red mill is aptly named.....that fugging communist.

No, the gawtdang Japs get all our wheat, because its a premium product.



You peasants get the garbage from other areas.

Just like cherry's from WA. Knew a guy that worked for a cherry rancher, hand picked all the primes, individual little wrappers, on a boat to Japan. We Americans got the culls.

Geno

PS, Bob's a communist? No schiedt? But where else do I get buckwheat , rye, oat, spelt flours for our critical baking needs. I bet he's one of them profiteering commies tho, he's been in business for a long damn time.

He looks like a joo..............




His markups are astronomical.

No... no hes not... hes trying to get his piece of their paycheck.

The dude has built an incredible empire off of selling common sense to morons. He will continue to do so. If he was trying to bring the bottom half up, he wouldnt be charging anymore....

PS - Im not faulting him either, its rather brilliant...

Charge $$ to teach someone how not too spend $$... amazing hahahah

The truth is, Dave Ramsey's advice is free on the radio. I doubt anybody is being hogtied and dragged down to the bookstore against their will to buy his books anyway.

Far as I know it doesn’t cost anything to listen to him on the radio.

And one doesn't need his book (s) either if one has a notebook handy to writer everything down.

Maybe a bit difficult while driving, but probably can find the show later on the Youtuber or Instahoochie or something.

Geno

LOL

Visa Offers New Dave Ramsey Credit Card With Credit Limit Of Zero

Spot on. It's enough to get folks looking for and understand advice let alone sort it and use it.

Hows he getting all that money then?

I used to swear Peanut M&M and Doritos ( both Nacho Cheese and Cool Ranch) were digestive aids. The right combination of the three could quell any stomach ailment.