Dave Ramsey’s Definition of “Broke”
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Published 2024-07-24
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All Comments (21)
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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
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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.
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Wealth is the state of Mind, an organized Mind can make wealth and riches, in everything I will still advise to make comfortable money.
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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.
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A poor person is due to bad circumstances. A broke person is due to bad choices!
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Broke is loud.... wealth is silent
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Debt is like standing on the edge of a cliff. The falling won't kill you, but the sudden stop at the bottom will.
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Almost got it, but the phrase is "all hat and no cattle" - love from Texas.
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“Broke people care deeply about what others think.”—TRUTH!
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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. :)
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Wealth isn't based on how much you spend, its based on how much you keep. Every wealthy person is frugal. Its a requirement.
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Dave, I'm a BMW.... Black Man Working....Lol!
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‘All fur coat and no knickers’ is what we say in Belfast, N Ireland
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$15.00 Walmart jeans are good enough for me.
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This is really a "Are you making other people wealthy?" or "Are you building wealth?" discussion
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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...
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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.
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Money talks, wealth whispers.
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Pulling out a credit card for dinner - I do that nearly every time and have zero balances at the end of the month. Read up on the legal handling of credit card transactions vs swiping a debit card before cutting up all of the credit cards.
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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.
