A Proven Plan for Financial Success | RamseySolutions.com (2024)

FAQs

How much does the Dave Ramsey program cost? ›

Ramsey+ has three different pricing options so you can do what's best for your budget: Three months for $59.99. Six months for $99.99. 12 months for $129.99.

To date, over 9 million copies have been sold worldwide, and every year, more than 400,000 readers buy the book. Ramsey's timeless TMMO principles have helped tens of millions pay off debt, save for unexpected emergencies, invest for retirement and build lasting wealth.

'The Total Money Makeover' by Dave Ramsey

This book is at the top of the list. Ramsey's “The Total Money Makeover” is known for the baby steps, which have helped readers pay off debt and get their finances in order. The baby steps are: Save $1,000 in a starter emergency fund.

The 7 steps in Dave Ramsey's plan are: Save $1,000 for emergencies, pay off all debt, build a 3-6 months emergency fund, save 15% of your income for retirement, fund your children's college education, pay off your mortgage early, and then give generously.

There's an 80-20 rule for money Dave Ramsey teaches which says managing your finances is 80 percent behavior and 20 percent knowledge. This 80-20 rule also applies to constructing a healthy life. Personal wellness is 80 percent behavior and 20 percent knowledge.

You (and your members) can test-drive the proven plan to win with money with a FREE trial to Ramsey+!

Once you're free of debt and sitting on enough savings to survive at least a quarter of a year, Ramsey says the most important thing you can do with your paycheck is to save 15% of it — each and every pay period — in a tax-advantaged account.

That's why we recommend splitting your investments evenly (25% each) between four types of stock mutual funds: growth and income, growth, aggressive growth, and international. That way, you're not relying too much on one particular fund to perform well.

Step 1. Start an emergency fund of $1000. The first step in Dave Ramsey's 7-step plan is to save $1,000 that you designate for emergencies. He advises that you place this emergency money in a separate account until you reach at least $1,000.

How much does Ramsey say to save? ›

Eventually, your goal is to have 3–6 months of expenses in a fully funded emergency fund and at least 15% of your gross pay going into retirement savings. (These are part of the 7 Baby Steps, aka the proven method to saving money, paying off debt, and building lasting wealth.) Let's look at some examples.

Ramsey is a devout Christian. He promotes donating and giving to those in need, while also building your own wealth and reaching financial security. If you struggle with the idea of building your own money while also sticking to your beliefs and morals, Ramsey might be able to provide some help.

Eventually, your goal is to have 3–6 months of expenses in a fully funded emergency fund and at least 15% of your gross pay going into retirement savings. (These are part of the 7 Baby Steps, aka the proven method to saving money, paying off debt, and building lasting wealth.)

Key Takeaways. The 50-30-20 budget rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must have or must do. The remaining half should dedicate 20% to savings, leaving 30% to be spent on things you want but don't necessarily need.

An example fee to book Dave Ramsey is in the starting range of $150,000-$299,000.

The total value of all your vehicles shouldn't be more than half your annual income. Why? Well, you don't want too much of your wealth tied up in things that depreciate (or go down in value).