Finance guru Dave Ramsey has revealed the startling phone call that led to him deciding no one in his family would ever be in debt again.
Ramsey, who has eight national best-selling books, shared a turning point moment after an American Express representative asked his wife “why she would stay with a man who won’t pay his bills.”
At that moment he decided, ‘You know what? This is it. We will never borrow money again.’
He said what “changed his life” was the “nobility of his future.”
“Never again will American Express call my house and ask my wife why she wants to stay with a man who won’t pay his bills. And yes, they did. And I was a very crazy redneck.
“I will be the last Ramsey on this branch of the family tree to be in debt, because not only am I going to build, save and invest so much wealth, I’m going to teach my children.”
One viewer agreed, writing, “You probably see it every day, but it’s true: at some point you just have to take action.”
Ramsey has made a name for himself as the host of an advice show in which he receives calls from people across the country struggling with debt and financial problems.
He said their goal is to help others eliminate debt, build wealth and “create a future that is yours.”
Ramsey, who has eight national best-selling books, revealed the phone call American Express made to his wife asking, “Why she would stay with a man who won’t pay his bills?”
In a recent video, Ramsey said that taking responsibility for his future ‘changed his life’
‘We talk to ordinary people every day, [they] Usually we call with financial problems, sometimes with financial victories,” he said in a video in which he spoke with newly elected President Donald Trump and discussed his plans to cut taxes.
“Things we taught them, the basic common sense things from Grandma.”
Trump even said he had been watching Ramsey “his entire life.” When the pair met, the president-elect added, “This should be the easiest interview because I learned from him.”
Ramsey first emerged in the early 1990s when he started a radio show answering callers’ money questions in Nashville, Tennessee.
His frugal advice was inspired by his earlier life, when he racked up too much debt buying real estate, a Jaguar, jewelry for his wife and a trip to Hawaii.
In 1988 he was forced to file for bankruptcy.
Today, he has a net worth of $200 million, 5.6 million Instagram followers, and 2.5 million followers on TikTok.
Advice about being website includes curbing your daily $4 coffee habit, which he says could save individuals $22,995 over the course of 30 years.
Ramsey sat down with Donald Trump to discuss his upcoming tax cut policies. Trump told Ramsey he had been watching him “all his life.” When the pair met, Trump added: ‘This should be the easiest interview because I learned from him’
His 35-year-old daughter followed in her father’s footsteps by becoming a money and budget professional.
And just like her hero, Rachel Cruze takes to social media to give the best financial tips to keep your bank account in top shape.
Ramsey’s advice is not just limited to financial issues, but also shares wisdom that can benefit listeners’ quality of life.
In one tweet he wrote: “If you make the sacrifices now that most people are not willing to make, you will be able to live later in ways those people will never be able to live.
“You can’t get out of debt while maintaining the same lifestyle that got you there. Earning more money doesn’t automatically make you a better manager of your money.
“You have to learn to live on a budget, otherwise you will always be stressed about your finances,” he said in another article.
His 35-year-old daughter, Rachel Cruze, followed in his footsteps by becoming a money and budget professional. She also gives the best financial tips on social media to keep your bank account in top shape
While Ramsey has both supporters and critics, many agree that real-world financial tips and advice are essential to correcting mistakes and improving lives.
‘Amen to this! I always say: if you fall, fall forward. You are one step closer to success. Thanks for inspiring Dave,” wrote one.
‘I just ordered your book, I can’t wait to read it, study it and make sure both my children use it like the Bible. Thank you,” said another.
‘We don’t learn about money in traditional school. I know you’re proud that you made that decision and thank you for sharing this so others can do it too,” someone else added.