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Wednesday, June 18, 2008

Doing rich people stuff

When Dave Ramsey talks about personal money management, whether it's through his radio show, FPU, Live Events, or books, one HUGE emphasis he makes time and time again is that we need to think like rich people and do rich people stuff.

Doing rich people stuff includes things like:
  1. Zero debt
  2. Live on less than you make
  3. Give generously
  4. Always ask "how much," not "how much a month"
  5. Drive used, paid for vehicles
  6. Have a plan; monthly budget
  7. Set goals - think short and long term
  8. Save, save, save

So are you thinking like a rich person or a poor/middle class person? Start thinking like the rich, and soon you'll be there over time!

1 comment:

UrbanFrugal said...

Good solid points in this post.

I definitely agree with you about spending less than you make, and looking at the overall cost not just the monthly cost.

Over time a more expensive item initially may end up being less expensive because you will not have to replace the item.

Also when you give, you have an open hand to receive from others. Even if it is just a favor from a friend that you would have to pay another person $$$ to do for you.

http://www.urbanfrugal.com