My Thoughts On Dave Ramsey's 7 Baby Steps In 2024 (DOES IT WORK?)

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Video host: Jaspreet Singh

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DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

[BryanBalak]

One thing I think people don't understand about the Dave Ramsey plan is that Dave wants you to be at peace with your life. If you are in a lot of debt, this just isn't possible. His plan isn't designed to necessarily turning you into a multi-millionaire, but it is definitely possible if you are younger and getting your life on track. I paid off $164k over 4 years in my early 40s, and I'm 48 now and will be able to comfortably retire. His plan is about finding your why, not finding your jackpot.

[MsMaxinejoy]

Dave Ramsey is the basics. Everyone needs to start there, to change their mindsets. Became debtfree, and investing more.

[harismuzaffar]

I stand with Dave. Nothing like being debt free. The peace in being debt free is amazing.

[kuyaChrischan]

Dave Ramsey is great if you're trying to eliminate your debt. But once your net worth is positive, it's time to graduate and listen to more Minority Mindset

[wsiak]

Dave Ramsey's guide is amazing for people who are financially illiterate or lack self control over spending. The problem is, many people don't realise they're financially illiterate or that they have a problem spending.

[jamesbyerly]

It worked and works for millions. Being debt free is never a bad idea. That's what he really promotes. Living within your means.

[erospawn]

Dave Ramsey is a major reason I am debt free and able to invest in stocks in the first place.

[northtexan]

Financial success is 20 percent knowledge, 80 percent behavior. The beauty of the 7 baby steps is it forces you to develop and maintain wise financial behaviors.

[tylersanders]

Dave is perfect for the average American who has some credit card debt and wants to have a stress free financial life instead. There are a ton of exceptions to his program but his way eliminates risk completely

[snakei]

Well to be honest it has worked for me and my wife we have been debt free for 6years now and it’s the best feeling ever

[yhckelly]

I was never whole hog Dave Ramsey, but after deciding to pay off the house rather than invest the cash in index funds, I was blown away. The feeling you get from being completely debt free is mind blowing. Pay off your stuff and find out. It's indescribably awesome.

[davidd]

I absolutely enjoy your videos, especially "below"! Dude you have a way of saying what I do (but can't explain easily) in a very user friendly way. Jaspreet is awesome.

[feralart]

I feel like Dave's system is a good tool for rebuilding a trashed financial situation. It's not a fast wealth build, but it is a steady discipline to get finances controlled and in order.

[scottbitz]

This is definitely a good primer on Dave Ramsey's Baby Steps and gets to the heart of what he's doing. Also, the idea is that when you're in Step 7, you're financially disciplined enough to go an invest as you want and have enough money saved that you can take more risks and still be at peace because all you outflows are not payments for debt. Also, I do know many people who followed his steps do have and use credit cards because they're disciplined enough to never spend more than they make (though I know some very wealthy people like Ron Rule who don't use credit cards either, so it's not just Dave) and I think he knows that, but again, what he's dealing with are people in over their heads without the discipline and financial knowhow to even get themselves out of their current mess.

[picksomebodyup]

Nice commentary. I read Rob. K. books and D. Ramsey books. I like Dave 's first three steps then reassess financial goals.

[twinturbo]

Dave Ramsey has been a good influence on me.

[albertmiranian]

Excellent video! I was unclear about good debt and bad debt in the beginning. Great explanation!

[errolm]

Next week (on the 15th) I will have my student loans paid in full 😊

[lyndaslocs]

That was awesome. I enjoyed your analysis. Fortunately, I was able to pay off my education loans in five years and never became grievously indebted. I just didn't have the knowledge of how to invest properly.

[sumitmukherjee]

Dave Ramsey concept is to live a happy quiet life with no liabilities and tensions...its good for a personality type and is definitely great for people who are not money savvy or financially bent. It does not make sense for people with different risk appetite.