I'm Josh Klein and Emily's huh. We host a podcast from accenture called built for change. Every part of every business is being reinvented right now. That means companies are facing brand new pressures to use fast evolving technologies and address shifting consumer expectations, but with big changes, come even bigger opportunities. We ve talked with leaders from every corner of the business world to learn how their harnessing change to totally reinvent their companies and how you can do it tale subscribed to built for change now. So you don't miss an episode. If you are a lover of affirmations or you ve, just heard about how powerful they can be than you are going to love. The dealing affirmations for women, podcast created, by the women's meditation network and hosted by the amazing jody guard every morning, you'll receive an episode that is dedicated to one specific affirmation, so you can have the space to reflect on it and receive the power with, follow and start listening now to the daily after

nations for women podcast on your favorite podcast player. This is optimal finance daily episode, twenty four fifty one I've crucial ways Dave Ramsay, is right about money by jan haze of jenny's dot me and I'm your house and personal. nancy enthusiasts diana mariamne, welcome back to optimal finance daily. Where every day I read an offer commentary on some of the best personal finance blogs on the web and about ten minutes or less so that let's get right to our next article as we optimize your life. Five crucial ways. Dave Ramsay is right about money by jan haze of gin. He's got me. you're, listening to a personal finance blog right now, so you ve, probably heard of money, expert dave, ramsay Dave has authored. Several books teaches a popular course called financial peace.

University, which I highly recommend an hosts. The Dave ramsay show. I recently shared my thoughts on freeways dave. Ramsay is wrong about money. You can find that post titled three crucial. Ways Dave Ramsay, is wrong about money on my website. Jen haze dot me this quickly, because one of my most controversial posts, and it sparked more to me than any other article on the site. I do disagree with eve on a few he points, but I love the vast majority of what he teaches. Reading his book The total money make over shifted my perspective and completely changed my life since reading that influential book a few years ago, I have paid off a hundred and twenty seven thousand dollars of debt bought a car with cash, an purchase, my Tom? I'm not sure where I'd be right now, if my friend had never lent me a copy of deeds book, I'm so incredibly grateful that she did here five crucial ways: dave

Z is absolutely on the money about money number one cash is king quote. If you can't afford to pay cash for it, you can't afford it dont. Let monthly payments become a way of life. Dave Ramsay Davis strongly opposed to that and encourages people to pay cash for everything instead even expensive. Like cars, college and homes. No dave is ok with a fifteen year mortgage on home. If you dont have enough save to pay cash. This prospect It is unusual in our society Most of us are raised to believe that there is a normal, unnecessary part of life. How many people do you oh, who have zero monthly debt payments. While it may seem crazy if you're used to that, it is highly possible to live at debt free life and there so many benefits of doing so. As Dave says, quote no, what you can do and you don't have debt payments. Anything you want end quote. The average american

Household carries nearly two thousand dollars in monthly debt obligations between a mortgage to car payments, student loans, credit card debt and other forms of debt. It adds up quickly Even if you had nearly two thousand dollars back in your budget every month? What could you do with that money if it wasn't going towards debt payments? Number two debt is always bad Davis blunt about his views on that. He does not distinguish between good debt and bad that, as many people do I love this and completely agree. There was a time in my life when I thought that certain types of debt were necessary and that debt could be a useful tool, I no longer believe that student loans are not good. That debt is debt period like

If I wouldn't tell someone not to buy a home with a mortgage, because I realized that expecting every one to buy a home with cash is unrealistic. However, I would not say a mortgage is good debt, it's better than other types of that sure, but that doesn't make it good. There's no such thing as good debt number three a budget is crucial. Many people hate budgeting, I get it. Budgets have a bad reputation. We think that the restrictive and we don't want to feel deprived. The funny thing is that's not really true. A budget doesn't take away. Your freedom, eight gives you freedom. Why? For one. it gives you permission to spend you dont need to feel guilty are concerned about your spending if its accounted for in your budget. Another reason a budget is freeing is because you can tell your money where to go and set of wondering where it when you don't have to be broke all the time you.

Get control of your money and achieve your financial goals, whatever they may be, invest a sap. This is one area where Dave Ramsay receives a lot of criticism, while personal finance there is agree that investing a sap is important. Many are sceptical about Dave's math says that if you follow his investing advice, you will receive a twelve percent return on investments. Many people think this rate of return. Is unrealistic. I didn't mention, anything about investing in my post about why Dave Ramsay is wrong for one crucial reason: people are missing the point here. Dave ramsay himself has said that, even if you disagree with the twelve percent return, it doesn't matter If he's half wrong and you get a six percent return, you'll see earn a lot more on your investments. If you start early the sooner the better, that's the point start as soon as you can and you will reap the better

of compound interest over many years, the joneses are baroque. My favorite dave ramsay quote, is closed. live like no one else now, so you can live like no one else later end quote: if you do what other people are unwilling to do working like crazy being super frugal. living way below your means, you'll be able, live a life, though never be able to live while their drowning in debt for many years to come. You'll be leaving her best life. What does your dream life look like? Do you want to travel the world retire early, give generously volunteer, work. Fewer hours, spend more time with your kids. You know you can do and you don't have debt payments. Anything you just listen to the post, titled

I've crucial ways, Dave Ramsay, is right about money by jan haze of gin. He's has me: Andreas klein and Emily's. We host a podcast from accenture called bill for change. Every of every business is being reinvented right now. That means companies are facing brand new pressures to use fast evolving technologies and address shifting consumer expectations, but with big changes come even bigger opportunities. We ve talked with leaders from every corner of the business world to learn how their harnessing change to totally reinvent their companies and how you can do it to subscribe to vote for change now. So you don't miss an episode. Labour strikes, climate change, your failing office printer. What are they all have in common? Come on? It's all about the money Economics is everywhere and everything fuelling our lives. If you're a fan of optimal finance daily and our cure

is to learn something new and exciting about economics. Every week check out the planet, money podcast from NPR planet money is a different kind of world where the complex economy actually make sense. Credit score is, may sound complex, but planet money can give you simple tipp so that you can make better financial decisions. A famous baseball player isn't just good at baseball. He also knows how to be a better investor topics are virtually endless and you'll get answers to questions like will. Ay I take over our jobs or is fancy vodka. Just fancy marketing the planet, money team lives to tell a good story and around thirty minutes tune into planet money every week for entertaining stories and insights about how many shapes our world listen now to planet. Money from mp are

ever. You get your podcast. While there is some dave, ramsay advice I disagree with. I can't ignore the fact that he has helped so many people get out of debt. I think the beautiful being about dave. Ramses baby steps is that their simple and easy to follow and most applicable for getting out of debt, working. Your way out of debt is relatively straightforward and, for me, has been the most enjoyable part of my financial journey, the advice live below your means, invest early and stick to a budget is tried and true financial advice. That applies to almost every one, but I'm not sure I agree that everyone should pay off their mortgage as fast as possible. A bakery. And I'm not in a rush to pay off. My mortgage is because I'm not comfortable with having a big percentage of my money locked up in an asset that isn't going to produce income for me in retirement,

that assumes I want to live in my house and not sell it. If my net worth was a bit higher, I'd, probably put more money into my house. I, like the advice from my friend, frank Ask has over at risk perry radio who recommends to have no more than ten to twelve percent of your net worth in your residents, so that you can put the bulk of your money into income producing assets I had a listener reach out to me recently asking if I thought she had enough money to retire early, while had over a million dollars, o lord majority of that was in her house. She couldn't really live. Off that in retirement unless she sold the house. So all that to say more get. That really is a different animal than student loans or credit card debt, and

I think, a more useful way to look at it is. Firstly, how can I keep my housing costs way less than thirty per cent of my take home pay. This is to avoid becoming house poor and, secondly, how do I balance how much money I'm putting into my residence with the need for income producing assets, And that should do it for today have a happy rest of your day and I'll see you tomorrow, we're optimal if awaits