Dave Ramsey’s Definition of “Broke”

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[clarke]

My friend’s dad is a retired cardiologist, most days he wears old jeans, sneakers and t-shirts from the 90’s. He was returning a small bag of bottles at the depot and some guy came up to him and gave him a big bag and said “here, you need these more than I do”. He grabbed the bag and said “thank you very much”. He cashed them all in then drove off in his Shelby.

[lightludology]

My mom made a joke that I will be her retirement plan. I put every bonus into retirement, all my overtime on my car debt, and haven't eaten out in 2 months. She on the other hand just spent 6k on a two week trip to Bali. We're both broke, but at least I know one day I won't be

[somewillunderstand]

Debt is like standing on the edge of a cliff. The falling won't kill you, but the sudden stop at the bottom will.

[tigers]

I was broke because I was making poor choices but now I act like I'm poor. I make sure bills are paid and don't spend money that I do not have.

[mattcrouch]

Almost got it, but the phrase is "all hat and no cattle"
- love from Texas.

[SK-fped]

A poor person is due to bad circumstances. A broke person is due to bad choices!

[Justmeeeee]

“Broke people care deeply about what others think.”—TRUTH!

[TheFirstRealChewy]

Wealth isn't based on how much you spend, its based on how much you keep. Every wealthy person is frugal. Its a requirement.

[isaaccify]

Aright. Long time listener here. Baby steps 4, 5, 6. Big believer in Ramsey Solutions. And I know credit cards are the devil with Dave. But if you see someone pull out of a credit card to pay for dinner, it doesn't mean they're broke. Or even close. :)

[imkindofabigdeal]

This is really a "Are you making other people wealthy?" or "Are you building wealth?" discussion

[Jules-]

I saw a clip from the show 90 Day Fiancé where a lady bought this huge, ultra-modern house but the fridge is completely empty because she had no money left after buying the house.

[joshualubin]

Dave, I'm a BMW.... Black Man Working....Lol!

[joeydupre]

$15.00 Walmart jeans are good enough for me.

[MaryLawson]

Wealth is the state of Mind, an organized Mind can make wealth and riches, in everything I will still advise to make comfortable money.

[petranubaum]

We were able to live without a car for seven years when I stayed home with the kids. After that time we went and bought a used Ford Fiesta which has been the best car really. The dealer asked my husband: "Pastor, how can you drive around with such a small car?" And when my son asked why we don't have a better car I toll him that the car we have to drive is always the best car. We had the priviledge to be able to never go into debt...

[lifesabeach]

‘All fur coat and no knickers’ is what we say in Belfast, N Ireland

[JohnSmith-wpyu]

I always pay for dinner with my credit card for the cash back. I pay it off at the end of the month and never carry a balance. So what?

[joepic]

Net worth tells you if you are broke or not

[davidpugh]

i pay for all my monthly expenses on a credit card... but i have the money in the bank to pay it off so that's debunk

[bcjammer]

Here’s what broke looks like: the late 20’s married couple next door to me (grade school teacher and grocery store worker) in a $375k house with two $60k cars in the garage.