Results: Managing money
Published on 02/19/2024
Money makes the world go round... if you know how to manage it. From poor decisions in our youth, to bad advice during our whole life, and maybe top that off with a low income job, managing money is a critical thing that can make or break our whole life comfort. Do you feel you're in control of your money?
QUESTIONS
GO to COMMENTS
Comments
1.
1.
Have you ever heard of Dave Ramsey? How familiar are you with his philosophy of managing money? I heard of Dave Ramsey and his baby steps formula for taking control of your finance.
19%
511 votes
I heard of Dave Ramsey, but don't know much more.
25%
683 votes
Don't know the guy.
56%
1506 votes
2.
2.
Dave Ramsey's 7 baby steps to take control of your money is a program he developed over the course of many years through testing and experiencing and working with people to get them financially secure. In short, these are the steps: Step 1: Save $1,000 for an emergency fund Step 2: Pay off all debt (except the house). Snowball method. Step 3: Save 3-6 months of expenses Step 4: Invest 15% of your income in retirement. Step 5: Save for kids college fund. Step 6: Pay off your home early Step 7: Build wealth & give. If you were to follow these steps, where would you be at?
Not started
16%
437 votes
Step 1
6%
170 votes
Between step 2 and 3
9%
245 votes
Between steps 4 and 7
18%
494 votes
All over the place
14%
380 votes
I don't think his technique is worth following. I have loads of debt but also loads of equity to offset that and I'm doing fine.
4%
95 votes
I don't think his method is worth following.
18%
485 votes
I live off the grid: money has no value to me anymore.
5%
129 votes
Other (please specify)
10%
265 votes
| Other Answers | Percentage | Votes |
|---|---|---|
| 3.56% | 96 | |
| Na | 0.48% | 13 |
| n/a | 0.26% | 7 |
| retired | 0.26% | 7 |
| done | 0.15% | 4 |
| Not applicable | 0.11% | 3 |
| Step 7 | 0.11% | 3 |
| - | 0.07% | 2 |
| Step 7. | 0.07% | 2 |
| 7 | 0.07% | 2 |
| I DON'T KNOW | 0.07% | 2 |
| debt free now | 0.07% | 2 |
| I have no debt | 0.07% | 2 |
| Completed | 0.07% | 2 |
| Too late. Have been retired for 24 yrs. | 0.04% | 1 |
| need money to manage money | 0.04% | 1 |
| Step 6. | 0.04% | 1 |
| I have no debt, and substantial savings, and did NOT follow this method. | 0.04% | 1 |
| I'm where I need to be financially | 0.04% | 1 |
| ... | 0.04% | 1 |
| some practical steps to consider | 0.04% | 1 |
| About to hit 7 | 0.04% | 1 |
| don't put adds together | 0.04% | 1 |
| This assumes some even applies. | 0.04% | 1 |
| none of the above | 0.04% | 1 |
| Retired with no debt, no kids and house paid off with savings | 0.04% | 1 |
| I would do these things if the government would keep its hands out of my wallet. | 0.04% | 1 |
| happy where I am | 0.04% | 1 |
| Debt free, truck and house paid off thanks to capitalism and conservative values | 0.04% | 1 |
| I don't think his method is worth following. I didn't follow it and I'm debt free and getting ready to retire in 3 more years. | 0.04% | 1 |
| do all of these | 0.04% | 1 |
| I am debt free | 0.04% | 1 |
| im bareley making ends meet i think the government instead of sending millions of money to everywhee ekse they should put a couple of million dollars in the social security its not really enough for everyone whos on ssx benifits and you know | 0.04% | 1 |
| I made it to a debt free life | 0.04% | 1 |
| No debt. | 0.04% | 1 |
| I'm at 7 | 0.04% | 1 |
| Already done (in a rather modest fashion - otherwise I wouldn't be doing surveys to earn a bit more) | 0.04% | 1 |
| not in debt and living comfortably | 0.04% | 1 |
| I've done what I could, working for a not-for-profit. Can't save a million unless you're (possibly) the CEO, but it was my passion. | 0.04% | 1 |
| No kids, so no step 5; otherwise, all of the above, including a savings to pay cash for new car! And, I have never made more than $25K in a year when working with 2 Bachelor degrees, a MA, and a host of other education! | 0.04% | 1 |
| Been there. Done that. Now comfortably retired. | 0.04% | 1 |
| he is too bias (I guess we all are, I have no debt but since he calls investing in silver & gold stupid people I dont take him seriously) | 0.04% | 1 |
| Done that | 0.04% | 1 |
| I'm debt free and hope to keep it that way. | 0.04% | 1 |
| Too old, too late! | 0.04% | 1 |
| I am a senior and am living comfortably. | 0.04% | 1 |
| worked in finance as a career and I've never needed this | 0.04% | 1 |
| Step 1 thru 4 | 0.04% | 1 |
| Debt free. And I paid cash for a new truck & a new Harley and I have $100k in savings following Dave's advice. | 0.04% | 1 |
| always done this | 0.04% | 1 |
| His ideas work if life is stagnant or predictable. Unfortunately, even when you are debt free, new crises appear and you need more money. | 0.04% | 1 |
| Am retired | 0.04% | 1 |
| I am retired, debt-free, have emergency savings and live comfortably | 0.04% | 1 |
| all steps completed | 0.04% | 1 |
| My economics class was Dave Ramsey | 0.04% | 1 |
| Totally debt free! | 0.04% | 1 |
| can't save, if you don't have | 0.04% | 1 |
| Throughout life, I have followed most of these steps and find them to be of value. | 0.04% | 1 |
| Too late already retired | 0.04% | 1 |
| Debt free and retired with plenty of savings. | 0.04% | 1 |
| Some people cannot do even the first step and steps 5 and 6 are not relevant to everyone. Okay advice but too generic. | 0.04% | 1 |
| Comfortable stage !!!! | 0.04% | 1 |
| I am not in debt | 0.04% | 1 |
| did these on my own | 0.04% | 1 |
| I have been debt free for over 30 years and am on step 8. | 0.04% | 1 |
| already finished and beyond | 0.04% | 1 |
| Don't agree with everything. some make sense, though. | 0.04% | 1 |
| Retired did all that. | 0.04% | 1 |
| No debt here | 0.04% | 1 |
| already debt free | 0.04% | 1 |
| have no debt | 0.04% | 1 |
| Just fine | 0.04% | 1 |
| I don't have any debt | 0.04% | 1 |
| on track | 0.04% | 1 |
| I’ve never had any debt | 0.04% | 1 |
| Good advice, Save some, spend some and give some, you will always have money! | 0.04% | 1 |
| RETIRED ON PENSION | 0.04% | 1 |
| i've done all those things and I'm living very comfortably | 0.04% | 1 |
| Broke | 0.04% | 1 |
| Completed all steps | 0.04% | 1 |
| am at 7 | 0.04% | 1 |
| Too late to do that already retired - maybe I should have. | 0.04% | 1 |
| I'm poor, so his advice means nothing to me. | 0.04% | 1 |
| Where we are right now but did not know him but that is what we did. | 0.04% | 1 |
| Finished with all 7 steps and debt free | 0.04% | 1 |
| WE ARE TO OLD TO START NOW | 0.04% | 1 |
| I put my portfolio on my life month to month living and I am doing well as of today's economy | 0.04% | 1 |
| something similar with my money. | 0.04% | 1 |
| I'm there now | 0.04% | 1 |
| rich | 0.04% | 1 |
| Too much to read | 0.04% | 1 |
| Done most of them except investing. | 0.04% | 1 |
| Already achieved one thru seven | 0.04% | 1 |
| Past most of it; already retired but still paying down debt and for a second house | 0.04% | 1 |
| don't have any debt | 0.04% | 1 |
| don't have enough income to do any of this. | 0.04% | 1 |
| some steps are good but you need money to do this if you are just keeping up with your bills there is no extra cash . | 0.04% | 1 |
| My financial advisor and I are fine. | 0.04% | 1 |
| This doesn't work if you have to live paycheck to paycheck | 0.04% | 1 |
| Good plan, I have lived my life that way. | 0.04% | 1 |
| out of debt | 0.04% | 1 |
| I'm there already, have been for 15 or so years. | 0.04% | 1 |
| Some steps do not apply. | 0.04% | 1 |
| The end did all that but had no kids | 0.04% | 1 |
| We tried to do these steps before DR., great ideas | 0.04% | 1 |
| saved throughout our working life and did do the steps he suggested without knowing him or his plan . We have been retired for 6 years now and live quite comfortably. | 0.04% | 1 |
| Use my own system. | 0.04% | 1 |
| I have my own ways of managing money just fine, Thank You. | 0.04% | 1 |
| At step 8! | 0.04% | 1 |
| I'm retired and have no one to answer to except myself! | 0.04% | 1 |
| I'm already retired, house and car paid off, carrying no debt month to month, doing fine. No methods. | 0.04% | 1 |
| I have very little money I am retired and I have no debt | 0.04% | 1 |
| I'm following my own plan | 0.04% | 1 |
| debt free and financially well off (millionaire) | 0.04% | 1 |
| step 8 | 0.04% | 1 |
| Already debt free and retired | 0.04% | 1 |
| All of the above except a college fund not needed at this chapter of my life. | 0.04% | 1 |
| Not interested | 0.04% | 1 |
| good | 0.04% | 1 |
| march to a different drummer | 0.04% | 1 |
| All but 5–no kids | 0.04% | 1 |
| depth free | 0.04% | 1 |
| He injects a fundamentalist religion into his philosophy, not for me. That said, I am 66 and only debt is what's left on my mortgage and my financial advisor says to not pay it off. I am well enough off for life that hubby and I retired at 62. | 0.04% | 1 |
| Il faut économiser tôt et surtout ne pas emprunter pour faire des achats sauf pour la maison | 0.04% | 1 |
| Have successfully completed all these steps...but I'm semi-retired! | 0.04% | 1 |
| All but the college as my kids have grown and got great jobs without having to pay for college. | 0.04% | 1 |
| I am debt free without following the baby steps. I still use a credit card which I pay off each month so no interest. | 0.04% | 1 |
| Have no interest in this | 0.04% | 1 |
| I always paid off my loans (car, house) in about half the time of the loan. | 0.04% | 1 |
| I think he has some good points | 0.04% | 1 |
| lots of money, no debt without his help | 0.04% | 1 |
| Im 79 and retired, doing fine | 0.04% | 1 |
3.
3.
There are a lot of people, especially in real estate who disagree with Ramsey's method because he prioritizes getting out of debt first. These folks use debt to generate income (i.e. buy a house and rent it above the mortgage value or take loans to invest in the stock market to get higher returns then their interest rates). While there's a higher risk, these methods may pay off, generating wealth faster when done right. Ramsey's comment on this method is that you sleep better once you don't have to worry about debt (he learned this from personal experience after filing for bankruptcy in his younger years). Do you think this method is better for wealth building?
Yes
19%
521 votes
No
15%
396 votes
Undecided
44%
1184 votes
Not Applicable
22%
599 votes
4.
4.
Which of these methods have you used to get money (successfully or not)?
Getting a job
55%
1482 votes
Getting a second (or third) job
21%
569 votes
Drop shipping
4%
105 votes
Opened your own business (or multiple businesses)
10%
283 votes
Freelancing
9%
231 votes
Real-estate
7%
177 votes
Social Media (influencer/content creator)
1%
38 votes
Investing on the stock market
16%
424 votes
Various side gigs
10%
273 votes
Lending money
1%
34 votes
Angel investment (you being the investor)
1%
28 votes
Sell photos/videos online
1%
36 votes
Taking surveys for money
40%
1073 votes
Affiliate Marketing
1%
21 votes
Flipping stuff (buy low, sell high)
5%
143 votes
Selling crafts online or offline
5%
122 votes
Other (please specify)
2%
43 votes
Not Applicable
24%
637 votes
Tutoring people online or offline
3%
81 votes
Medical trials
3%
77 votes
Building courses and selling them online
1%
14 votes
Selling digital products
1%
30 votes
| Other Answers | Percentage | Votes |
|---|---|---|
| 0.28% | 15 | |
| giving to charity | 0.02% | 1 |
| Sold weed in my 20s | 0.02% | 1 |
| I am a great saver of money | 0.02% | 1 |
| I just handle my money well., cooking from scratch,, using cloth diapers for my 4 children, planning my shopping ahead of time, not eating out when we couldn't afford it. Then my hubbu graduated from the University, and after a year we could live hi | 0.02% | 1 |
| selling avon | 0.02% | 1 |
| Selling used articles | 0.02% | 1 |
| Pay off all debts | 0.02% | 1 |
| Being smart about spending the money you make, using it wisely, but this enjoying life and not spending foolishly. | 0.02% | 1 |
| using coupons | 0.02% | 1 |
| Dont know | 0.02% | 1 |
| working for 45 years and not going into debt except for a car and house. our moto was to try and live within our means and it worked. | 0.02% | 1 |
| tight budget | 0.02% | 1 |
| donate plasma | 0.02% | 1 |
| CD interest | 0.02% | 1 |
| I HAVE NOT WORKED SINCE 1998, ON DISABILITY | 0.02% | 1 |
| spend wisely | 0.02% | 1 |
| Collecting recyclables | 0.02% | 1 |
| pet sitting, dog walking, house cleaning, picking fruit | 0.02% | 1 |
| investing in mutual funds | 0.02% | 1 |
| Working with animals. Owner of a small business | 0.02% | 1 |
| Sell all that you will never use or need. Your junk is someone else's treasure. | 0.02% | 1 |
| do not live above your means. Don't pay someone to do things you are capable of doing. | 0.02% | 1 |
| Saving change | 0.02% | 1 |
| Print on demand | 0.02% | 1 |
| only buy a car for cash | 0.02% | 1 |
| inheritance | 0.02% | 1 |
| selling on ebay | 0.02% | 1 |
| selling used merchandise | 0.02% | 1 |
5.
5.
What is your top priority when you get money (i.e. if you're employed, when salary comes in). Pay myself first (investment, savings...)
14%
389 votes
Taxes
3%
80 votes
Bills
29%
772 votes
Debts
9%
231 votes
Food
6%
169 votes
Treating myself (nice restaurant, new gadget...)
2%
61 votes
Booking the next vacation
2%
42 votes
Depends on the situation
15%
414 votes
Other (please specify)
2%
45 votes
Not Applicable
18%
497 votes
| Other Answers | Percentage | Votes |
|---|---|---|
| 0.36% | 8 | |
| RENT | 0.14% | 3 |
| Tithe | 0.09% | 2 |
| Tithing | 0.09% | 2 |
| Always pay morgage or rent first/ | 0.05% | 1 |
| giving at least 10% back to the Lord's work | 0.05% | 1 |
| Charity | 0.05% | 1 |
| pay my tithe first then bills starting with rent and utilities | 0.05% | 1 |
| DON'T WORK ANYMORE. ON DISABILITY. I HAVE MY SAVINGS, PAY MY BILLS AND DIFFINETLY I NEED TO MAKE SURE I HAVE FOOD TO EAT FOR THE MONTHS | 0.05% | 1 |
| Buy a home to make extra income | 0.05% | 1 |
| Weed and gummies | 0.05% | 1 |
| put in my rainy day account | 0.05% | 1 |
| Don't know | 0.05% | 1 |
| pay rent | 0.05% | 1 |
| God | 0.05% | 1 |
| I put aside my tithe first then I pay myself. | 0.05% | 1 |
| Now that I am retired and living comfortably I owe it to most of the steps that are mentioned.....worked well for me and my first suggestion is to "Pay yourself First". Not ,easy to do at times but oh so worthwhile in the long run. | 0.05% | 1 |
| Whatever needs attention 1st | 0.05% | 1 |
| tithing 10% | 0.05% | 1 |
| Housing | 0.05% | 1 |
| Tithe always; praise God forever | 0.05% | 1 |
| charity first, then bills | 0.05% | 1 |
| Giving at least 10% to my church. (tithing) | 0.05% | 1 |
| god then me | 0.05% | 1 |
| buying tings we need for our house that we could not affored otherwise. | 0.05% | 1 |
| savings | 0.05% | 1 |
| Giving to God should be first. Tithing. The first 10 percent | 0.05% | 1 |
| Investing | 0.05% | 1 |
| Bills, paying down debt and savings! | 0.05% | 1 |
| Saving | 0.05% | 1 |
| Donating to President Trump so he can help stop Communism as well as the thugs and terrorist that are walking across our border. The Chinese illegal immigrants are currently training and working on their target practice. Stay safe! | 0.05% | 1 |
| stockpiling necessary items for the upcoming civil unrest, so should YOU | 0.05% | 1 |
| gifts for grandkids | 0.05% | 1 |
| No matter the amount, have ALL taxes taken "off the top." Invest 1/2 of what's left, decide with husband how to spend the other half. | 0.05% | 1 |
COMMENTS