Dave Ramsey Research Paper

Dave Ramsey is a businessman who is famous for his financial advice on getting out of debt. Ramsey himself had gone into debt and ended up filing for bankruptcy. He started teaching classes and giving advice after he had financially recovered. His advice and ideas have helped many people get out of debt, while also helping them save up for the future. Dave Ramsey has taught me countless ideas over the past two weeks, some of which include not using credit cards, having separate bank accounts, and starting to save early in life.
One of the main things I have learned from the Dave Ramsey videos is that you should not use credit cards. You should always save up for things and pay for them in cash, like cars and other big purchases. By doing this, it can help you stay out of debt and save up money for things in the future. Although many people will tell you differently, you do not need a fico score for anything. Some people will say that you need it for …show more content…
We saw a graph that showed the finances between two people, one who started saving early and one who started saving late. The first person started putting in about $2,000 each year from the age of 16 to the age of about 22. The second person started putting in $2,000 each year from about the age of 23 to the rest of his life. We saw that over time the first person still had more money, even though the second person put in more money over time. This helped emphasize the idea that you need to start saving money early.
Many people do not realize the consequences and struggles that come with debt and loans. Even more do not realize how damaging credit cards are and the debt that can pile up with them. I am glad that we were able to learn from Dave Ramsey, so that when I am older, I can have the opportunity to be debt free and be smart with my money. Hopefully, I will put some of his ideas into practice and never go into debt when I am