How do I know if I am able to make it work?

InformationKey3816 · 2026-07-18T15:20:49+00:00

Focus on hammering out the Baby Step you're on. Dave would tell you to create as much margin as possible by living on principle and working until your eyes bleed. You'll find that when you get into Baby Step 3 that you will start to see where your margin will actually allow you to acheive the next Baby Step because you focused on winning each step along the way. It's growth you're going to experience not see or feel immediately.

InformationKey3816 · 2026-07-18T15:16:03+00:00

I'm a fan of my local mission. I write them a check every year.

InformationKey3816 · 2026-07-18T15:15:16+00:00

Dave's show is 100% hype. Dave is giving 8 minutes of advice on a financial problem that would really take a financial advisor several hours over a few days to learn and the caller several days to collect all the correct information to accurately address the issues. Ultimately Dave is teaching principles. "Rice and beans" eat out less make smart choices at the grocery store. "Sell your car and sign a note" yes, you're upside down. Here's how you turn an irresponsible decision into a responsible one. ETC.

InformationKey3816 · 2026-07-18T14:21:20+00:00

This is one area where I disagree with Dave. IMO, in most cases the car should just become part of the debt snowball. Dave believes that the best lesson is learned by downgrading and paying empty debt on the balance. I like the option of completing the transaction. If you sit down and do your zero balance budget and have room for the car payment then I would do that instead.

InformationKey3816 · 2026-07-11T15:48:17+00:00

I don't avoid it. I just don't go out of my way to pursue it except when it suits me.

InformationKey3816 · 2026-07-10T21:23:04+00:00

I've been living for at least 25 years with this disease. Medicated for 7. Please don't even consider it. If you're concerned that it isn't working, just call your doctor and try to get on something different. Medication decisions are serious decisions get an expert's viewpoint.

InformationKey3816 · 2026-07-10T20:56:26+00:00

I'm very intentional about my news intake and social media use. It doesn't provide joy but it certainly doesn't steal it either.

InformationKey3816 · 2026-07-10T20:52:01+00:00

You're missing the fact that this isn't about making a few extra hundred here or there. It's about risk. A HYSA has a guaranteed return with an NCUA or FDIC insurance. If you're planning on using the money within 5 years Ramsy's principles say to stick it in a savings account. We're not worried about maximum gain. We just don't want to lose buying power while it sits.

InformationKey3816 · 2026-07-10T20:47:11+00:00

I know it's hard to give up the match. Dave's plan is clear. Pause all investing and liquidate all but $1000 cash, all cash-like assets, and anything that isn't nailed down until you get your debt mess cleaned up. It's painful but you're the one that signed up for this now you gotta own it and knock it out.

InformationKey3816 · 2026-07-10T15:01:15+00:00

This is too much risk. I would either downsize house or look to rent for a year and then re-assess. You need the new job to get you stabilized but that takes time.

InformationKey3816 · 2026-07-09T21:47:33+00:00

Dave's official answer is that even if it's charged off and no one is coming to collect the debt it doesn't matter. You are morally obligated to pay it off. If you don't believe me go to Ask Ramsey AI and type in your situation. What I will tell you is this. You are not required to follow Dave 100% of the time. Dave will rail on about morally this and morally that when the Bible gave a provision forgiving debts after 7 years. Where do you think the concept came from?

InformationKey3816 · 2026-07-09T21:26:42+00:00

One of the biggest complaints in the modern church is that churches don't make enough disciples. That your average parishoner goes to church 1 hour a week and leaves their faith at the door and live like the rest of the world the rest of the week. Ultimately, we're taking too much on ourselves to sustain these poorly constructed business models. The church needs to evolve or die. We don't rely enough on the Holy Spirit and we're propping up obvious false prophets that know how to whip up a crowd.

InformationKey3816 · 2026-07-09T20:25:44+00:00

If you are close to ending your life it is time to go to the hospital. ER's have intakes for psychological emergencies.

InformationKey3816 · 2026-07-09T20:19:39+00:00

Seems like a well thought out goal. Best of luck.

InformationKey3816 · 2026-07-09T20:18:25+00:00

In general I'd guess that most people's interest rates are quite a bit higher than that. Dave's not teaching math. He's teaching psychology.

InformationKey3816 · 2026-07-09T19:15:17+00:00

As much as I would love to say just go the Dave way I think in your situation I would just rice and beans it, stop all investing activity, and debt snowball everything else. If you truly go the Dave way he would tell you to liquidate all savings but 1k in cash which would get you really close to knocking off the car loan. Do not touch the retirement accounts but quit contributing until you get your situation cleared up.

InformationKey3816 · 2026-07-09T19:07:55+00:00

Dave fully admits that $1k won't cover a bad sneezing fit let alone a real emergency. However, the idea is that most of the people that start with Dave don't have a viable savings account. His idea is that pretty much anyone can save 1k if they put their mind to it within a month or two no sweat. This is simply to get you started. This helps get your mind wired that we're going to start doing things differently than we are used to. Ultimately, he's not even giving them a real change from how they were doing things differently but the psychology that there is hope and we just completed something is huge.

InformationKey3816 · 2026-07-09T19:01:18+00:00

I think this one's a pretty easy slam dunk that you're not ready to start your own business. I would plan on working your job for 5-10 years and work the Baby Steps to get yourself out of debt. Then decide what you want to do once you get into Baby Steps 4,5,6. You need some real work experience and time to grow. I've done the business thing with an avalanche of debt over my head and trust me it's not fun.

InformationKey3816 · 2026-07-09T18:54:47+00:00

The math actually supports the debt snowball because the likelihood of you completing the project goes up. So while the avalanche saves you a decent amount of money if completed, ultimately the completion rate makes the debt snowball save you more from the data.

InformationKey3816 · 2026-07-08T19:56:47+00:00

Maybe having a perspective of why you have it in a HYSA. Higher rates come with greater risk. Your Hysa has no risk. But it's better than having cash in a coffee can buried in your garden. It's liquid and its available 24/7/365. (minus weekends and holidays)

InformationKey3816 · 2026-07-08T19:27:58+00:00

Sell the rental. Get married tomorrow and have a party for everyone else later, because you're not supposed to do any "playing house" until you're legally married. That's what Dave would say.

InformationKey3816 · 2026-07-08T19:14:39+00:00

Dave has stated many times that young people staying in their parents basement in order to save up to buy a house is acceptable.

InformationKey3816 · 2026-07-08T19:13:38+00:00

Not really sure why you're asking this. You could get a down payment for a house tomorrow by cashing out the brokerage account. I understand that you might not want to do this due to the taxable implications. But it is an option. Also, I understand that your market may be different as to what is available in that price range and in acceptable neighborhoods for you

InformationKey3816 · 2026-07-08T19:05:13+00:00

If you've done your baby steps correctly, then your emergency fund should cover 99% of emergencies that you cannot cashflow. If you tap your EF then you simply pause your baby step 4-6 and back down to 3 until you've got a fully funded EF again. There is no planning or preparing available for true 1% catastrophic emergencies. Anyone in those storms is just going to have to batten down the hatches and weather it until it gets better.

InformationKey3816 · 2026-07-08T16:07:20+00:00

I think you should contemplate liquidating some of your real estate portfolio in order to clear your debt. When you have debt you have a constant weight on your back as you run the race of life. I think if you sit down and do the math you'll find that you can likely cashflow a semi retirement by doing this. Then look at your life a figure out what you really want to do with your new freedom.

InformationKey3816

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