Name: Dave Ramsey | This Past Weekend w/ Theo Von #498
Uploaded: 2024-04-30T15:00:59.000Z
Description: Watch the stand-up comedy video 'Dave Ramsey | This Past Weekend w/ Theo Von #498' from Theo Von on Comedy Buff. Published 2024-04-30. Transcript available.

Watch the stand-up comedy video 'Dave Ramsey | This Past Weekend w/ Theo Von #498' from Theo Von on Comedy Buff. Published 2024-04-30. Transcript available.

Dave Ramsey | This Past Weekend w/ Theo Von #498

I have some new tour dates to tell you about. I'll be in Boise, Idaho on June
28th at the
Extra Mile Arena, Idaho Falls, Idaho on June 29th at the Hero Arena, and Salt
Lake City,
Utah on June 30th at the Maverick Center. Pre-sale is active now for these
dates
with code RATKING. General on-sale starts Wednesday, May 1st at 10 a.m. local
time.
Today's guest is a financial advisor and a radio host. You know him from The
Ramsey
Show, where he gives advice to callers who have questions about their finances.
He has
a two-day live stream event coming up later this month, which we'll talk a
little bit
about. I'm grateful to spend time with him today, Mr. Dave Ramsey.
I can't believe you guys made my studio here, Dave. We just want you to be home
and come back again.
Well, yeah, I'll stay. Anytime. I'll stay, man. Apparently, it's no big deal. I
didn't
know you guys had an Airbnb. You guys were running Airbnbs here. Yeah, we
totally replicated
my studio here in your Ramsey. Is this a campus, pretty much? Yeah, I guess
that's what we call
it. Yeah. And is it so you have investment, like what's on the campus? Because
this is,
it's beautiful. No, thank you. Thank you. We've got two office buildings and,
of course,
the main lobby area where we broadcast the shows on the glass. So the area for
the public to come in
and hang out while we're doing the shows. And then we've got a 2,500-seat
auditorium up on the hill
up there that we do events in, the event center. So it's been quite an
adventure.
Like what type of events will you do up there?
Well, we do our Ramsey events. I mean, we've got, number one, we've got 1,100
team members. So we do
staff meeting up there and devotional on Wednesday up there. And then, but we'll
do weekend long events.
We've got a money and marriage event with Rachel Cruz, my daughter, and Dr.
John Deloney, two of our
Ramsey personalities in the fall. It'll be mammoth. We'll have it sold out here
in a couple of weeks
for a total money makeover weekend. So it's public coming in for public events
to learn something that
we're doing usually around the money subject or the leadership subject. We use
it for our entree
leadership stuff. So it stays pretty busy. Wow. Yeah. It's remarkable. Dave Ramsey,
man. Yeah.
Thanks so much, man. So you, so just for a lot of our viewers will know you,
but some who wouldn't.
So you started out in finance. Like how did you get in? Like what made you care
about money out of the
gate? Like, did you have a, did you guys have allowance issues in the home?
Yeah, we did. You did?
Yeah. We were not on allowance. We were on commission work, get paid, don't
work, don't get paid.
So yeah, I grew up in a blue collar neighborhood. So, uh, daddy believed in
work, uh, like real work.
Like I was 12 years old and I came in and said, I need some money to go to the
quick sack and get
an IC. And he said, no, you need a job. I said, what could you do? And I said,
well,
I guess I could cut grass. And he took me down here on Nolensville road and
printed up 500 business
cards that said, Dave's lawns. Go knock on the closest 50 doors and ask the
opportunity to provide
their lawn care needs. So at 12, I ended up with 27 yards to cut. So I think
they call that child
abuse now. Yeah. Look, yeah. Well, yeah, I think if you have, if you force a
kid to get a job
nowadays, I think protective services will come and get you. That's exactly
right. You know, it's
pretty, sometimes it can be like that. It can be kind of alarming. There wasn't
a protective
service that would protect them from my parents, but, um, but yeah, so anyway,
we grew up doing that.
And then I started buying and selling real estate in my twenties and, um, got
rich starting from
nothing. And I had, uh, at least where I came from, I mean, uh, a million
dollar net worth and I was
making $20,000 a month in 1983. Oh yeah. So, but then that's rich. Where were
you driving?
A Jag. That's what I always, cause none of my friends could spell Jaguar. So I
needed a Jag.
Yeah. So, um, and, but I'd done stupid stuff and too much debt and the bank got
sold, called our
notes and spent the next three years of our life losing everything. And that's
what made me care
about money to answer your question. Wow. Cause yeah. Cause if you go out, if
you go to a high
pretty early, that's wild. Yeah. So did you think at that point you thought, oh,
this is it. Life's
just going to be a, yeah, I thought I had it. I thought I had it all dialed in
and I had nothing
dialed in. I was stupid on steroids. Yeah. And so we, uh, yeah, with a brand
new baby and a toddler
and a marriage hanging on by a thread, we got the opportunity to start again in
1988, September 23rd.
Well, you remember it like that. Yeah. Well, I mean, that's the day we filed
bankruptcy. That's a,
that's, that's like, that's hell day, you know. Do you have to go to the bank
to file it or how do you
do it? No, it's a federal court. It's a nice little procedure that you go
through. That's, um,
pretty intimidating. But, and what do you, were you still like the year? Was
your dad still like a
mentor at that point for business or anything? Was that like, no, no, they had,
they had moved away
by then. And I had guys around here that were, that were family, friends and
stuff that we'd grown up
with. But, um, wow, but I had started, um, I had started a faith journey. I'd
met God. And so
as an adult, cause I was pretty much a wild character in my youth. And, um, so,
uh, I started finding out
that the Bible said something about money. And then I started talking to old
rich people
and both of these things said, you know, just common sense, just live on less
than you make,
have a plan, get out of debt. And, you know, I've got all these degrees and
letters and licenses and
crap after my name that says I'm supposed to know something about money, but I
was broke. And so
I need a new set of information. So I found common sense and started using it.
And then people
started asking us, okay, how did you turn your life around after all that
garbage? And
this is what we did. And they went, can we do it? I'm like, yeah. And we start
showing people. And
then, you know, 35 years later, here we are showing people millions of them.
Yeah, no, it's unbelievable. I mean, everybody knows Dave Ramsey and everybody's
had,
you know, has used you for financial guidance and stuff over the years or, um,
or gone to you with
certain questions. I know you guys take so many questions on your show and with
that turnaround
moment, was there like, did it lead you to be like, I need more than just
believing that finances are
going to take care of me or like, yeah, I think that's probably part of the,
part of the journey
there. I mean, somebody said, how'd you bounce back? And I'm like, dude, when
you fall that far,
you don't really bounce. It's splat. So, you know, we hit, we hit, we hit, we
sat around whined and
moaned and blamed everybody else for about a year and, you know, um, figured
out finally it wasn't
everybody else's fault. It was my fault. I caused it. I'm the idiot signed up
for the trip and got to
take it. So I had to, you know, I had to course correct and adjust. Um, and so,
yeah, I, I, I think
our, our faith, our new faith at that point, it was very young and, uh, tender
and not a lot of
knowledge or anything. And, but anyway, we're, we're just trying to figure out
how do you navigate
with two little babies and sitting here broke. And, you know, my wife's from
the hills of East
Tennessee frying pan throwing. There's an Olympic event. You know what I mean?
It's like, it's a
hillbilly woman. So, it was, it was rough. And so we about killed each other
and, uh, I think she
would have left, but she didn't have a car. So, um, but yeah, the, uh, so, yeah,
I mean, that's the
stuff that we did. And, but again, gradually we just sat down with the yellow
pad and said, okay,
here's what we have coming in. We can't spend more than that. And we're always
going to give
some, we're always going to save some and we're going to feed ourselves. And
then what
do we do next? And then the next week and then the next week. And okay, now we
got to
get a little bit better and started gradually getting our income back up. And,
um, it was,
it was not a bounce back. It was years. It feels like, but then, you know, it,
uh, the thing
about this stuff, this common sense thing, it's not a microwave, it's a crock
pot. Yeah.
It cooks up good, but it takes a while. It takes a long while. Yeah. And then
sometimes
you realize you look in the thing and you're like, I don't even have this thing
plugged in
either. There's that too. Yeah. There's that problem. You're just sitting there
and watching
a bowl of cold meat water for eight hours. So sometimes. Sounds like it's from
experience.
Might have just happened. Yeah. I've been through some things. Yeah. Well,
if you don't have a wife, you have a crock pot. This is true. I mean, it's
definitely,
and it's a sad day for a man when you realize you're like, oh, damn, this is,
you know, when
you go in to get your crock pot, you know, that's, that's signing up for it
right there.
It is really. And you name or some people name it after a woman and I'm like,
well,
this is getting a little crazy. I feel like, but, um, when you look at like,
yeah, like when
I think back on jobs that I had, like I was, you know, I sold what I used to
sell hamsters
outside of, uh, raves when I was young, I've sold, I worked in dairy. I sold,
um, Mexican
food door to door. I used to clean out wishing wells in our town. We had a plethora
of wells
in our parish. Um, what else collecting cans and taking them over to the scales.
I sold
a, um, uh, Italian or semi-Italian food. Um, just all types of things. And I
try to offer
suggestions to like people that were like me growing up. Like, how do you find
a job that
could start to change? Like, if you don't have much and I often go to like
pressure washing,
that's what I'll tell people you buy a pressure washing, get a pretty good one
for about 600
bucks. And then you can start a business. You can make your Dave's lawn care
cards and next,
you know, two weeks later, you're a dang business owner, you know, are there
suggestions like you
have like that for people that are like, you know, like, and it can be a first
job even like,
what do I start? I mean, lawn care is a great one. Yeah. I mean, it's amazing
to me what people
will pay you to do if you're just willing to go do it and you show up on time.
Um, and then I think the
piece that goes with that is, okay, you don't want to start pressure washing
and go, Hey,
I want to be 63 years old, which is what I am and still be pressure washing.
That's not a plan.
But to get you through this week, you can do a battle. You can do a lot of
pressure washing.
You're right. That you turn into a car deal, detail company, and then turn it
into something
else and then sell that and do something else. And what I figured out was these
wealthy people,
they, uh, they don't think, thank God it's Friday. Oh God, it's Monday. They're
not living for the
weekend. Right. Yeah. They're, they're, um, you know, every move they make is a
step towards where
I want to be in 10 years, where I want to, who I want to become. And so, okay,
I might be pressure
washing so I can get the money to go to code school and pay 10,000 bucks and go
to code school. Oh,
then you can make 150 a year coding. Right. And so you, what's the step, what's
the, what's the method
to get there? What's the path to get there? And so the problem I think
sometimes is if you take a,
feel like you're taking a job like that and I've done all that, not the exact
same thing,
but I've done a bunch of crappy jobs too, uh, and entrepreneurial things. And,
you know,
I buy an old car, a repo lot and come home, fix it up, put it back on the
market. And back in those days,
there were classified ads in the newspaper. Oh yeah. And so we'd sell, turn
around, sell the car
and, or buy a bunch of j