Your priorities, passions, goals, and fears are shown clearly in the flow of your money.
Interpretation
This quote emphasizes that how you spend your money reflects what is truly important to you.
Dave Ramsey suggests that analyzing your financial choices can reveal your true priorities, passions, goals, and fears. Essentially, where you direct your financial resources indicates what you value most in life, thereby allowing for a deeper understanding of oneβs personal motivations and aspirations.
In practice
This quote can be shared during a financial literacy workshop to emphasize the importance of budgeting.
Debt is so ingrained into our culture that most Americans can't even envision a car without a payment ... a house without a mortgage ... a student without a loan ... and credit without a card. We've been sold debt with such repetition and with such fervor that most folks can't conceive of what it would be like to have NO payments.
The thing I have discovered about working with personal finance is that the good news is that it is not rocket science. Personal finance is about 80 percent behavior. It is only about 20 percent head knowledge.
Debt collectors like to play on your emotions because they think you'll give in and do something you can't really afford to do. Most of them don't care about you or your situation as long as they get some money.
Hitting bottom and hitting it hard was the worst thing that ever happened to me and the best thing that ever happened to me.
You have to teach children about money intentionally - create teachable moments.
As parents, we teach our kids about things we feel competent in. That's why so many parents don't teach their kids about money.
When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.
When the market is just going up, up, and up, we all tend to be blind to the holes in the market. They're all papered over by the rise.
When somebody asserts that a stock has an earning power of so much, I am sure that the person who hears him doesn't know what he means, and there is a good chance that the man who uses it doesn't know what it means.
Credit is a system whereby a person who can not pay gets another person who can not pay to guarantee that he can pay.
It's not a stretch to say the whole financial industry revolves around the compass point of the absolutely safe AAA rating. But the financial crisis happened because AAA ratings stopped being something that had to be earned and turned into something that could be paid for.
Subscribe for the occasional hand-picked quote. No noise.