Want to “win money?” Here’s how Dave Ramsey says to do it

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Can this simple guidance make a huge difference when it comes to your finances?

Many people struggle financially and have a hard time saving or avoiding enough money Credit card religion. If you don’t want to be one of them, financial expert Dave Ramsey has some advice on how to “win the money.”

Here’s what that advice is, plus some advice on whether and how you should implement his advice.

Dave Ramsey’s tip for becoming a financial gainer

Ramsey’s advice for winning money is really simple, but it may not be advice you expect to hear.

“If you want to make money, let me give you an idea: find out what most people do and run the other way,” Ramsey wrote on Facebook. Ramsay also went on to explain why he gave him this unexpected advice.

“Most people are broke,” Ramsey said. “Most people look good when they’re broke. And the government, known to be good with money (sarcasm line) won’t bail you out. It’s up to you.”

Essentially, Ramsey suggests that rather than trying to follow the crowd or keep up with the neighbours, you make your own money decisions that fit your long-term financial plan. You don’t necessarily want to do what is popular, or what seems easiest, but instead you want to be in control and make choices that will set you up for long-term success.

Is Ramsey right?

It may be hard to confirm Ramsey’s assertion that “most people are broke”—but it is he It is true that a significant number of people do not have sufficient retirement savings, have too much credit card debt, and do not have even a small amount of Money to cover emergencies.

While in some cases this may be because people spend money to look good, says Ramsey, there are also a lot of systemic problems that leave people with very little. These issues range from the wage gap between men and women to generational poverty and unequal opportunity to the fact that the minimum wage has not kept pace with rising prices.

If you encounter these systemic problems, it will be very difficult to make financial decisions that make you “money out” because you are fighting against the grain. And Ramsey’s claim that most people are broke because they’re trying to look good doesn’t really apply in your situation, since difficult circumstances aren’t decisions you make that cause your financial problems.

For some people, though he It is true that there are some financial decisions you may make – and they are very common – that may make it difficult for you to achieve financial success. For example, Buy now, pay later plans It’s become very popular as a way to buy things you can’t afford, and it can make it harder to live within your means and meet your financial goals since you’re committing to future income to pay for your purchases of non-essential things today.

If you want to increase your chances of “winning the money”, then take control your budgetCommitting to living within your means and avoiding borrowing anything unnecessary can be a good approach to take. Ramsey recommends these types of behaviors, which can be beneficial to adopt so you can increase your net worth over time.