Dave Ramsey's Total Money Makeover Live! - 7 Baby Steps

Today what I want to do is show you how to get to the top of your financial house. I want you to rise to the top of your financial house and stand there. It will take you a few years. It won't be like that. quick if you're looking to get rich quick you're in the wrong room we don't sell microwaves here we sell crock pots I want you to do it I want you to climb on top of your financial house and stand there like Rocky goes Adrian, yes, honey, and what? How do you get on top of the house that way in Tennessee?

If we want to go up to the upper house, we use this thing called a staircase and the stairs have

steps

and they have rules about the

steps

if you go up. go up the ladder it starts to move if you are over 16 you go back down oh you did it too and you suck you stabilize the ladder and do it again you repeat the steps but take the steps slowly and gradually you do not skip steps because otherwise you will have been hanging upside down with a broken leg your neighbor will laugh at you you will not skip any steps you will be willing to go back down to the solid ground and repeat the process these are the rules for using a ladder in our place we call these stairs these steps small steps and you don't do little step four until you've done step one there's a process here and there's a reason because you have to lay a solid foundation if you're going to build a house that doesn't Don't bring in the trim carpenter and start, you know, start to nail the crown mold, if you hadn't done the drywall and laid and built the house on the foundation, start with the foundation and build from there, small step one, let's start before we do anything else stuff. $1,000 Baby Starter Emergency Fund, that's only $1,000.

I want you to get $1,000 as quickly as possible to get started, so that's not your emergency fund, that's your initial emergency fund. You have to get ten Benjamin Franklin babies quickly, right now, quickly, get ten Ben Franklin's as fast as you can in a month, have a garage sale, bust it, get it up and running quickly, maximum in a month. I want you to get $1,000, save right now, quickly, this is the easiest. A small step because it only costs $1,000 and is the one you will do the quickest in most cases. This is the hardest small step because this is the point where you decide.

Am I really going to change my life? Am I really going to buy these things? I'm going to do something that other people are doing. Am I really going to get involved in this process? I'm not going to continue doing it, leaving it the way I've been doing it. I'm going to get serious. I'm going to concentrate. change because you know, this is the problem: we don't like change human beings don't like change we tend to do the same thing over and over again some people work in a job they've been in for 50 years and I hate every day and the only reason they don't change is because they don't like change, even if we are doing things and they are not working for us, we defend it, protect it and fight for our right to be stupid.

Have you ever done that? I'm driving along with the speedometer reading 80 miles per hour. My wife is looking at the map and says we are going the wrong way. I said yes, but we are going at a good pace. We get caught up in our stuff, don't we? We are like a little boy sitting in a diaper with poop and no, it smells bad but it's hot and it's mine we don't like change let me tell you that if you're going to win in this life you have to learn to accept change because the only thing that ever change is that we are going to change change is a way of life embrace it and you have to accept it by changing and doing some new things with your

money

start with a thousand dollars in the bank you have to learn to save

money

what we are saying here now is SATA now look that, I like those things like that, that's the reason I get a lot of money, it's not that deep, you gotta save money, man, that's good, you know what it is? no one does it everyone talks about it everyone looks and no one does it we are walking around without money the richest country the world has ever known and all the money leaves your house every month you have to make this a philosophical process a process theological a spiritual and emotional or relational and mathematical process I'm saving money I'm sick of being broke well how can you not know, yes, I've budgeted for 20 years, I know. about I know it's hard, I know it's hard, so who's broke, step up, there are some things to do here, so what we're starting here is the first step of saving, it's the emergency fund , grandma said save for a rainy day, a visual aid comes up this is your emergency fund 78% of Americans, according to Money magazine, are going to have a major negative financial event in any 10-year period, it's better be prepared, it is coming, you must be prepared, you need to save money. for emergencies you are an emergency looking for a place to happen if you hadn't been kicked in need of a sum of five to seven thousand dollars in the last three or four years you are behind doc statistically coming, get ready You need to create your emergency fund Dave , you need to be positive I'm sure it's going to rain Get yourself an emergency fund This is how this works This thousand dollars You don't even have to put this in the bank You could just You could Do like a lady: she went to Walmart and bought a picture frame 8 by 10, put it there, framed it and wrote under it, in case of emergency glass break, you don't want to put it in an underwear drawer because the pizza maker I'll get it, no, the pizza maker is not in your drawer of underwear, but I know what's up, dingdong, oh, it's an emergency.

You have to keep it where you can't access it easily, but where you can access it if you need it, honey. The first step is again, a thousand dollars quickly, get a thousand dollars, set aside that thousand dollars, set aside that small minimum step, that beginner emergency fund, ready to go, personal finance, eighty percent of the behavior, it's just 20% of the mental knowledge you have. change what you are doing to get a different result, you can't keep doing the same thing over and over and expect a different result, the 12 steps call out about the definition of insanity, maybe the step into the debt snowball, settle everything. of your debt using the debt snowball accept your house we will list our debts from smallest to largest we will pay minimum payments on everything but the small one and we will attack the small one with vengeance when the payment runs out there we will take that payment and the other money that we can take out of our budget in our life and we are going to attack number two when number two disappears, we are going to take payments from one and two and everything we can.

To get out of our

live

s, we're going to attack the number three and every time this snowball rolls, it picks up more snow to the point where when you get to your biggest debt except your house, which is usually a student loan or the car payment, Don't you say yes when it comes to the student loan or car payment? The average family in America pays between $1,500 and $2,000 a month in payments not associated with non-mortgage payments on their home when you start paying $1,500 or $2,000 a month on a $10,000 car loan or a student loan, that sucker disappears in just a few months, you get the idea that we pay this from lowest to highest, well

baby

, wouldn't it be mathematically appropriate to pay the highest interest rate first?

Yes, it would be if we did. doing math we wouldn't have credit card debt this is about modifying behavior when you go on a diet it's a good idea to lose weight the first week that way you'll keep doing it because it's too much work not to eat the exercise that generates you're in a bad mood, It hurts me anyway oh you too I see well so you know the deal is this I have to see some results for my pain you're with me and when I can take down that little one and take down the next one and take down the next one I'm putting that one in motion pump thing, I'm going to do it, this is doable, my faith activates, my faith builds, my hope grows and I become more and more, more and more intense as I go down, that intensity, that focus. causes this to happen and I noticed that intensity and that focus on the intimacy of the radio when people call.

I've gotten to where, after years of doing this, I can say if they can do it. I hear it in their voice I can hear it in the cadence of their speech in the words they are using out of the abundance of the heart the mouth speaks the Bible says and I can hear what is happening there I can say I I can discern what is happening not always, but I started to notice that I can tell that one will make it now, it's not because they call and say it's not that extreme, but sometimes it is, but this thing comes up. they can feel it I've had it Les Brown the great motivator says that people change their

live

s when they finally say I've had a moment where I say that's when you change your life you have to get to that point you can wander around in debt but you can't get out You have to have this moment where you say that's it I'm tired of working hard and I have nothing to show but an empty pay book I got to the Discovery Channel and there were the gazelles that were out there selling and I was like, man, I just read about how you see, get out of there, surrender like a gazelle from the hand of the hunter and I sat there for a moment because you know the Discovery.

The channel is not there if only the gazelles are there, you know there is someone else there, the hunter is there, he has a plan, he is the fastest mammal on dry land and the gazelles have a cheetah detector behind them, they go because, honey, They're getting ready to be lunch because the cheetah is faster than them. It can go from zero to forty-seven miles per hour in four jumps. This is the fastest mammal on dry land. It's looking to eat you. This is how you get out of it. You surrender. yourself Like the gazelle in the hunter's hand, you ride as if your life depended on it.

Can you see what it will do? He chooses the college student, right? Hey, come here, hey, hey, you're free, hey, hey, I've got a t-shirt over here hey hello you need to raise your FICO score hey come here kid come here come here come here now the way you get out of the dead babies you gotta run you have to go go go go you can't leave this the guy is after you, he's going to knock you down you have to run, run, run, you have to get Gizelle intense, the people who get out of debt, the ones you can get into, You can't get out, you understand, this is a deal, man, it has to happen, this is how you get up you give yourself like a gazelle from the hunter's hand you give yourself like a gazelle from the hunter's hand I'm not going to do it for you the other one it has transportation you know how long we had to watch For a clip where they ran away, but I'll tell you the fun of this funny little example that you'll never forget for the rest of your life.

It's one of those powerful moments of the day. Don't know. how long you have to run I don't know how fast you have to run but you have to run you can't leave it you have to break it if you want to be someone in the area money you want to take off these things you want to share these chains it's not a game you have to To throw yourself into it in an incredibly passionate way, you have to have a level of focus, a level of intensity that you may have never had in your life and when you do that, you will win. free because I've seen hundreds of thousands of Americans do exactly this because of the Total Money Makeover because of the Dave Ramsey program because of the Financial Peace University not because we made them believe they could and they ran away that's what happened turn yourself in, that's how it works this, but I promise you it works honey, if you keep doing it you can chase the cheetah, so now we don't have any payment except the house payment.

We are in the second step, we have between 18 and 24 months. I feel pretty good. Say yes. Our next goal is for us to be fully with the intensity of the ghazal. We will continue to focus with concentrated intensity. We're going to build that thousand-dollar account until it reaches a fully funded emergency fund, which will take three to six months. Expenses Emergency funds should be easily accessible or liquid, put them in a money market type account with check privileges from your mutual fund company, it will not generate much interest and I want you to put three to six months of expenses, some of you that will be 10 15 even 20 thousand dollars sitting there bored but ready for life to happen all of you are bored by the murder yeah it's boring I don't see here's the deal your emergency fund the problem we have is that We get confused, it's not an investment saying it's not an investment your emergency fund is insurance say insurance here's the difference investments are money that makes you money insurance costs you money to protect your money that makes you money buy insurance to protect your home to protect your health buy insurance to replace your life and the money you earn if something happens to you, called life insurance, insurance is an expense that protects assets, your emergency fund is not an asset, technically It is in accounting terms, but you'll have to look at it that way, in other words. if you earn a little interest, that's good, but it's not there to earn interest, it's there to protect your 401k because if you have to dip into your 401k because you didn't havean emergency fund and the government keeps half of it in fines and taxes, that is what is known as stupid because you did not have an emergency fund.

I never had an emergency fund at any point in my life when I was a multimillionaire when I was a millionaire doing real estate stuff I wanted a multimillionaire I was a millionaire doing real estate stuff I had no money saved everything went back to the deal back to the deal everything we spent everything we consumed no money no liquidity no cash and that's one of the reasons I fell because I had no wiggle room there was no grease in the gears and that's what it is it puts a pad between you and Murphy , you knew Murphy is, if it can go wrong, it will and let me.

I'm telling you what, you don't have an emergency fund Murphy will move into your guest room and bring his three broke, desperate, stupid cousins, and your life will look like a country song, that's what's going to happen, right? That's how this deal happens. you don't put it on a CD, a depression certificate because if you cash it out early they charge you a fine that's not liquid and it's not easily accessible, so a simple money market account with something like your mutual fund company and you put three to six months of expenses in money market accounts they are easy to access men say things about the emergency fund like it's boring, it's not sophisticated enough Dave, let me take $20,000 and let's sit there and make just the three or four percent maybe you could do a lot better with that.

I could do a BBD. A better deal. I have this game plan. I was surprised by this. My wife says I'm scheming and scamming and when I do that kind of thing, guys are always trying to do this. Very few women do these things, you see women, on the other hand, say things like this is the most important key to our financial plan and here's why let me have all the men in the room please stand up, Can I get all the men to stand up, please, guys. I don't know if you know this or not, but women are different types.

I don't know if you know it or not, but here inside your woman there is a security gland and when she feels insecure about money things, not feeling good about money things, the glands spasm and are stuck to her face, Insecurity makes your wife ugly and bad because she is afraid in a place that you don't even have and she will attack you and you know that happened, it happened in my house, that woman almost took my eyes out. She had no idea and then I discovered the safety glands. If you want to make one of the best investments you have ever made in your life, it is naturally programmed by God to be smarter than you. this topic her nature takes her to the place to be calm and safe in this area this emergency fund makes her relax in a place that you don't even have when you make the investment in the work and the budget to participate in the process and this fund emergency is in place, she will relax and look at them through a different set of eyes.

This is one of two things I'm going to say today for those of you who are married or ever want to be. married, that will revolutionize your marriage because she will feel completely different at that moment, not because she is weaker because in matters of money many times women are stronger, but because in this matter that is how she is connected and she will look at you in a different way. different way. way when those emergency funds are in place it's an investment in your marriage right ladies rest my case an emergency fund turns a crisis into an inconvenience if your transmission goes out it's $2,700 to fix it you have $ 15,000, wow dad, the transmission went out, that's a pain transmission goes off and you're ruined, it changes your whole life, the drama starts to leave your life when you have these emergency fun things in place, it's absolutely powerful, that's small step 3, the emergency funds are ready and now the small steps take a different flavor you just do one until you finish one the only two - until you finish two you just do three until you have three ready four five and six it We're going to limit our investment here in four to just 15% because I want to work on the other two small steps at the same time instead of going to 22% of 28% in savings, only 15% invested in Roth IRA and 401k.

This is a mathematical solution. explosion of those things we talked about where there's interest upon interest upon interest now you have a different kind of snowball rolling, it's rolling downhill and you're chasing it instead of it taking you now you can see wealth starting to building up your money starts making money, here's a plan right here: $100 a month invested from ages 25 to 65 at 12% and a decent growth stock mutual fund is 1 million one hundred seventy-six thousand dollars. I just gave you a formula to be a millionaire from thirty to seventy it's the same numbers from 35 to 75 the same numbers one hundred dollars a month that's money for pizza in some of your houses it's your cable bill but don't turn on the business of the foxes you know, I'm saying you know you go through a hundred dollars worth of lattes ooh, now it's getting personal and they're doing a retreat there, caffeine is happening a hundred dollars, a hundred dollars and you're a millionaire every month.

Roth IRAs and 401ks are the government's secret formulas for wealth. now you don't have any payment for the house payment now you can find 500 dollars no in the real world yes in the real world let's do the numbers the average household income is 40,000 816 dollars that's 3333 dollars a month that's what you're carrying house payment about 2,700 dollars an average family earning 40 years received a house payment of about $700 $2,700 take home - a house payment of 700 sheets 2,000 dollars you have 2,000 dollars to eat pay lights oh, I don't have any debt payments hmm maybe I could save 500 of the 2000. Could I say yes and then I could end up with some money in the process?

This is real. I didn't make this up today. We've done it for a long time and it works. Look here. The interesting thing about those numbers: Roth IRA increases taxes, that's a good word, let's do it again. Taxes because it doesn't happen very often. This is Washington and they are a damn parasite, so tax free is a good idea. It's very unusual. It is a good idea. idea now tax-free now let's think about it six thousand dollars a year for 40 years, which is six times four twenty-four, that's 240,000 dollars that came in hmm, this is interesting, they brought in 240,000 dollars and grew 5.8 million dollars, so out of five million eight hundred thousand dollars five million six hundred thousand of them you didn't put them in wow it's all disgusting it's all growth it's the snowball that adds snow and the fact that your taxes are huge because the taxes on six million of dollars would look a lot like a million. six hundred thousand dollars, which means that this word Roth is worth in this example about $400,000 per letter.

The 401k is the government's secret formula for wealth because you make that investment pre-tax by taking $1,000 of your income and bringing it home for when the time comes. arrives home looks suspiciously like 700, but if you put it before taxes, it comes in the full 700 plus the 300 you would have given to Congress. Why is that important? Because 240,000 becomes 5.8 million, so we want as many of these government dollars as possible. As we can gather, that would have gone to them before, we use them, they do a lot of heavy lifting, so each one of them is multiplied by billions of times, so every dollar I can get my hands on to do grow money before taxes.

Investing is great, my goodness, no company doesn't match. I'm not going to put money into the Horo 1k because of the way you get back at them being a runner, that's smart, but the trick is you gotta start, you gotta start right now. being an Arthur illustrates the fact that for us you have been investing since you were 19, you invest $2,000 a year and a good growth stock mutual fund until you are 26, then you put in sixteen thousand dollars for eight years, $2,000 a year, that's sixteen thousand dollars and then you stop investing because you see at age 27 how much was put to zero once again how much had been put at age 27 you stopped investing is not a trick question and the money grows and the money grows and the money grows Brother Arthur wakes up and says wow, I've been stupid, I need to catch up.

I'm going to start investing $2000. It starts at 27 years old. He invests two thousand dollars a year from age twenty-seven to age 65. He estimates seventy-eight. thousand dollars and never beats the guy who put up sixteen thousand dollars beats the guy who put up seventy-eight thousand dollars by seven hundred thousand dollars some of you, that's a very clear graph if I was 19 years old, how many of you are here? you are under 25 raise your hand hello hello so I can get a good look at you, you understand that if you have collected this information, you put it in your brain and it changes your heart and makes you handle money differently for the rest of your life, this section, right? here, this chart will make you a billionaire.

I just made you a millionaire. If you have this, am I right? Old men, how many of you here who are over 40 like me raise your hands and be proud of it? Yes, I'm thinking. deep down you probably have a message for those people under 25 you probably have something you want to tell them you probably want to shout something like get it done 1 2 3 Wow young people, you just heard the voice of repentance, yeah, let me. I tell you some people say I'm too old to save money, not if you're still sucking wind, plus you can't go back, this is your only option, start where you are and let's go.

I'm 52, it's too late, so shoot yourself. I mean, what are you going to do? Let's go from here. Let's go from here. We have to go somewhere with this. I know people who make the most money they have ever made in their lives when they are 50 years old. Many people never do anything until they're 60. Colonel Sanders never fried a chicken commercially until he was 67. Grandma Moses never painted a picture until she was 84 years old. She made 1500 works of art, 450 of them she made after she was 100 years old. All you know about Winston Churchill is because he did it when he was 70 years old. everything you know is golden, my heiress because she did it when she was 70 years old, it's not over, you quit, but with the money issue it's easier if you start now, now we only put 15% of our income in retirement in small step 4 because I wanted to save something. money to start working on the kids college fund if you have kids and want to make a kids college fund step 5 is where you do it don't do the kids college fund while you're still in debt because you don't have any money it's all goes to payments, you don't use the emergency fund to send the kids, call it college, that's not an emergency and by the way, when they go to college they could learn to do something like wo RK, no.

Don't Kill Them How many of you worked while in college? I leave my case, it is not child abuse. University financing. Make sure children are eligible for an educational savings account. The educational IRA is what it's called, since it's the ESA, it's like the Roth IRA. or the university raises taxes you can put two thousand dollars a year in this account you put two thousand dollars a year in it it will grow tax free from zero to 18 twice 18 is there are 86 thank you $36,000 came in $36,000 came in, but you will have about One hundred and twenty-six thousand dollars there, twelve percent when they get to 18, and that means you'll have about ninety thousand dollars in growth that you won't pay taxes on because this is a tax, so do this on your own. college kids the educational savings account in good growth stock mutual funds take the time to research the cost of college you should think about that when you are little you should think about that as you get older some of you have children who are 1314 years old in At this point you haven't started saving for college so you won't have enough to pay cash for college, they will do some things and they won't, you don't have enough to pay cash for something big. expensive private school, unless you put them deep in debt you could do something like send them to a school you can afford oh there's an idea but look we go crazy over the word education we worship at the altar of the Diploma in this culture let me tell you how much your university degree is worth nothing is worth nothing the knowledge you obtained on the way to obtaining that degree if it is applied in the market it is the only thing that has value knowledge is the currency of this millennium knowledge is important continuous learning It is important It doesn't end when you leave university, you need to read and do other things that continually improve, like you are doing here today, continuous learning is the only way to win, teach your children to think about who you are. get what you're spending because let me tell you, the only thing more useless than your degree is your

total

ly useless pedigree.

I'm happy for you if you graduated from Wharton, Harvard, or Yale. I will NOT belittlethose schools. I'm not dissing Vanderbilt, but let me tell you, if you go there you better be prepared to pay it and if you tell me it's worth $100,000 in debt there, I can financially prove to you that You're an idiot, the average college student is graduating right now with twenty-seven thousand nine hundred dollars and one student loan debt, this is crazy and by the way, another six thousand dollars in credit card debt, first rule of college, pay cash, pay cash, pay cash, pay in cash now. we're sailing we've got retirement underway we've got the emergency fund in place we're doing the kids' college in the educational savings account now every two dollars above what we get put it in the house pay the house, buddy, One thousand five thousand pounds, think about it, what could you do if you had no payments?

I mean, if you just take the house payment, put that puppy in a mutual fund every month, you know, I gave it up, that's a million dollars real quick. I've been looking at these numbers all day. You're starting to see how these things work. I mean, what could you do if you didn't have payments? You would have control of your most powerful wealth creation tool, which is your income, that is the muscle of your ability to build things, it is that simple myth. It's wise to keep my home mortgage because I get the tax deduction. How many of you have ever heard that the tax deduction means I don't want to pay for my house?

I will lose my only tax deduction which is one of the biggest and I am surprised that CPAs are so stupid that they do this. I actually have a degree in finance and I'll tell you who taught me this: this old farmer in overalls who was paying cash for a $90,000 property and he walked right in there and I closed the sale and I just got out of college and you know when you just got out of college you have all the answers and I say, excuse me sir, but I'm thinking I'm going to be sophisticated and teach this. man, how money works well, because he obviously doesn't know.

I mean, he's wearing overalls, he just paid cash $90,000 for a lot, but he's wearing overalls, which didn't occur to my arrogant little head, you know what I'm saying, and he looked. me and he said son, didn't they teach you anything in that school? and I said, what do you mean? He said, well, apparently you didn't learn, dad, let me show you what he guided me through and I've never forgotten it, it's changed. I'm all over this idea of ​​tax deductions, now take a tax deduction if you have one, for the love of God don't send too much money to Washington but stay in debt because of a tax deduction, that's how it works , think about it for a second if you had a $200,000 mortgage with 5% interest, that means the interest you paid that year would be 5% of $200,000, which is $10,000, does that sound good?

Say yes, by the way, there are no trick answers in this. I'm not going to trip you up. Okay, so you're safe now if you do that and you make $70,000 a year and you have a $10,000 tax deduction and you make 70 you don't pay taxes on 70 if you have a $10,000 tax deduction you pay taxes on 60 hmm and then if that's the case, you're in a 25% tax bracket, you saved $2,500 in taxes because, if you're Dave Ramsey, the crazy guy paid off the mortgage, then you wouldn't have the $10,000 in interest payments, so you'd lose the deduction and pay no taxes. over 60, you would pay taxes instead, so that extra $10,000 of income is now subject to tax, and if that's the case, you're in the numbers I'm using, you're at 25 percent. tax bracket meaning 25 percent of $10,000 is what I cost you, but you have an additional tax bill or $2,500, so what we're saying is a tax deduction is mathematically sending the mortgage company ten thousand to avoid sending you to Washington two thousand five hundred. try again, you're sending the mortgage company ten thousand to save, sending two thousand five hundred taxes to Washington.

I may have to wait until everyone understands this, here's an idea, pay your mortgage, give your church ten thousand and you'll get exactly the same. profit myth: It's wise to borrow as much as I can on my house because I can invest it and earn more on the investment if I borrow money at six and a half percent and put it in a good mutual fund earning 12 Dave, aren't I earning five and a half percent spread the answer is no because your little formula is naive here in the real world where we all live, if you earn 12, you will pay taxes on it and your after tax return is nine point four and up.

Here in the real world, if you're smart, you don't compare zero-risk investments, apples to apples, with risky investments. Myth: I will take out a 30-year mortgage and promise to pay it as if it were 15. You are lying to yourself. the truth is that no one does something will go wrong it's called party dresses transmissions and the muffler falls off the car it will rain every month something old better laid plans of mice and men i meant to do it i promised myself i was going to do it You already know the interesting thing about a 15-year mortgage, which pays off in 15 years or less each time.

You know, many times the 30-year mortgage pays off in 15 years or less, unless it is refinanced. Two percent of them are systematically amortized over 15 years. does these things, everyone talks about it and thinks well, if I have a little problem, I'll have room to maneuver that way, well, your life is a little problem, that's what happens and 15-year mortgages are They pay off in 15 years, so here's the deal. the house only buy a house after the third

baby

step you are debt free you have the emergency fund I recommend paying in cash what you are crazy I recommend it is difficult I do not borrow money there is nothing on the planet that I want enough to return to that effort the borrower is a slave the lender i have it good i have it up to the soles of my feet i don't even want to have anything to do with a bank unless i buy it that's simple but if you're going to buy a house, never get a mortgage for more than 15 years and never get a mortgage for more than 15 years in which your fixed-rate payment is more than 1/4 of your take-home pay. you're buying too much house and if some greedy subprime banker is going to hit you with a prepayment penalty with an adjustable rate mortgage with an interest only mortgage with a balloon payment with an above market interest rate just because if I get a Hell, it's my life, be good, turn back, you're not ready to buy yet, turn back, don't settle for this world, but be transformed, how do we transform ourselves by renewing our minds? get the best use of your money and/or have money problems for two basic reasons, number one is ignorance, don't be mad at me.

I'm ignorant about some things and you don't want me to do brain surgery or fix your car. In any case, there will be leftover parts. Ignorance is not lack of intelligence. Ignorance is lack of knowledge. I don't know how to do those things. I'm a smart guy, but I don't know how to do those things. You can do them. that we could hire people to do brain surgery, you can hire them to work on your car and I highly recommend it in both cases, but don't hire them to manage your money, you need to learn how to do these things, you can bring in public accountants. to teach you, you can bring a mutual fund investor to help you, a real estate girl here, a good mortgage broker here, an insurance person to teach you, but everyone needs to have the heart from a teacher because everyone What you are looking for is advice, you are not looking for a babysitter, you are not looking for a dad or a mom because it is your job to manage your life and the multitude of counselors, their safety, you gather the information, but you make your decisions .

Don't let anyone else do that for you now we have the house paid for now the kids' college is underway now retirements are underway look when you've done all that baby step seven there's nothing left to do except generate a lot of wealth and give it away. You will have more fun than ever with money when you get to little step 7, when you jump into this area of ​​wealth, you will see things through a completely different lens that you didn't even know you had in your mind. camera, it's a whole new way of looking at things.

Your most powerful tool for creating wealth is your income. When you take control of that, it will launch you and you don't have to be on the radio and you don't have to have the best-selling books. books to do it ordinary people who make fifty sixty thousand dollars a year do these things all the time wealth is not an escape mechanism, it is instead a tremendous responsibility if you believe that your life is going to get better just because you get money, you are wrong because you become more than you are if you are a jerk and get a lot of money you will become a very big jerk if you are generous and charitable and get money you will have a big impact on the people around you never sit in church next to a single mother who is crying because she gets paid for the light building, but once you come up and pay it until the end of the year, but you don't really do it right, you do it after receiving at home so she doesn't know who did it because it was really God who did it it wasn't you you don't need to take the credit anyway there are only three things you can do with money you can have fun with it you can invest it and you can donate it and you need to do all three things.

You better have fun. Money is fun. If you have something, you should invest it. So you have something and you should donate it because it's the most fun. you'll ever have with him, giving is possibly the most fun you'll ever have with money, that's the deal, you know, Winston Churchill said, he said, we make a living by what we get, we make a life by what we give. Andrew Carnegie, who was the Bill Gates of his time in the year 1900 he built Carnegie Hall and founded most of the public libraries in America today the richest guy in the year 1900 used to say that excess wealth is a trust sacred that must be administered for the good of others yes They will be patient with me for about two minutes and will not move.

This last section is very, very important. There are two things I want to cover with you. One is that each of you is perfectly trained. Perfectly designed four-cylinder engines. They should work on everyone. four cylinders in order to win we are physical beings take care of this, you get one, don't go to McDonald's, eat 62 Big Macs and go, Lord, bless this to nourish our bodies, take care of this, get one, eat less exercise. Also, it's not difficult, just be aware of what you're putting in your mouth. People don't sneak into your room. The mill at night puts food in your mouth.

It's you, you're the one who does it. I know because I put up the sign. my desk is food, stupid, I know it's me, it's my job to take care of myself, the second thing is that we are emotional beings, if something bad happened to you in your life and most of us are half breathing, you might need to. sit down with your pastor or a good counselor and get rid of your baggage life is too short to go through this with the Samsonite it's heavy I'm Carol Dave I come from a dysfunctional family we all had people in them I'm not making fun of I'm just saying I know what it means to hurt and it's okay to get help when you're hurting.

It's a bit silly not to do it. The third thing is that we are intellectual beings. Feed your mind. Read, read, read, read, read. read read read the average college student has not read a nonfiction book 70% of Americans have not read a nonfiction book since their last day of formal education Charlie Tremendo Jones says that in five years you will be the same person you are today earning the same money that you have today with the same problems that you have today except for the books that you read in the people you know now you can be an intellectual you can feed your intellect and grow you can take care of your body and you can take care of your movements, but if You do those three out of four, you won't be running at 3/4 or 75% power until you plug in the fourth, the other three don't work well and when you plug it in, it will take you to over 100 percent power it takes you to 110 percent. cent power activate joy activate celebration of life activate life passion increase your creativity change everything in the other three what am I talking about talking about the spiritual this The step by step program of small steps is infused with biblical wisdom of common sense, it is an absolute process that has been demonstrated literally to date.

Millions of Americans are somewhere in those small steps right now working on this exact process. Millions and tens of millions, even hundreds. Millions of dollars of debt have already been paid. It is not in doubt whether this works. The only question left tonight is what are you going to do. Don't wake up five years from now and wish you had changed your life. Go home. this week starts do it right now this is how you will do it Thank you Dallas