Dave Ramsey Money Quotes

David Lawrence Ramsey III (Dave Ramsey) is a radio show host, businessman, author, and personal finance personality. He is a well-known person as his personal financial advisor and he became one of the top most trusted financial advisers in America. Let’s see some of his quotes about budgeting, investing, and money.

Best Quotes about Money by Dave Ramsey

Money is like a beautiful thoroughbred horse-—very powerful and always in action. But unless this horse is trained when very young, it will be an out-of-control and dangerous animal when it grows to maturity.

Dave Ramsey

Dave Ramsey often uses this analogy to emphasize the importance of financial education and responsible money management. The comparison suggests that without proper training and guidance, money can become a destructive force, causing financial instability and harm. By acquiring financial knowledge and adopting disciplined financial practices early on, individuals can effectively manage their finances and avoid the pitfalls associated with uncontrolled wealth. The analogy serves as a reminder to approach money with wisdom and intention, ensuring it is a tool for stability and success rather than a source of chaos.


If you invest $464 in a good mutual fund every month from age thirty to age seventy, you’ll end up with more than $5 million.

Dave Ramsey

Dave Ramsey, often emphasizes the importance of long-term investing and the potential for significant wealth accumulation over time. The figure of more than $5 million reflects the power of compounding and consistent contributions to an investment over several decades. However, it’s important to note that these calculations are based on certain assumptions and actual investment outcomes can vary. Factors such as market fluctuations, fees, and individual circumstances can impact the final results. It’s always advisable to consult with a financial advisor or professional for personalized investment advice.


When I do something stupid with money and lose it, I call that Stupid Tax. I have paid so much Stupid Tax that I am an expert.

Dave Ramsey

Dave Ramsey often uses the term “Stupid Tax” to refer to the financial mistakes people make that end up costing them money. By acknowledging and learning from these mistakes, Ramsey suggests that individuals can become more knowledgeable and wiser in managing their finances. The idea behind the term is to encourage individuals to make better financial decisions and avoid repeating costly errors in the future. Ramsey’s approach emphasizes the importance of taking responsibility for one’s financial actions and learning from past missteps to achieve greater financial stability and success.


Don’t buy things you can’t afford, with money you don’t have, to impress people you don’t like.

Dave Ramsey

Ramsey advises against the practice of purchasing items beyond one’s financial capacity, using borrowed funds, simply to gain the approval or admiration of individuals with whom one may not have a genuine connection. This quote serves as a reminder to prioritize financial responsibility and avoid unnecessary debt or financial strain caused by trying to maintain a certain image or impress others. Ramsey promotes the idea of making wise financial decisions based on personal values and long-term financial goals, rather than seeking external validation through material possessions.


Knock out a small debt first so you get a quick win. Momentum is key.

Dave Ramsey

Ramsey often advises individuals to focus on paying off small debts first as a strategy to gain momentum and build motivation in their debt repayment journey.

The concept behind this advice is that by tackling smaller debts initially, individuals can experience a sense of accomplishment and progress. This “quick win” provides a psychological boost and reinforces the belief that it is possible to overcome debt. It helps to build momentum and confidence, which can then be applied to tackling larger debts.

Ramsey’s approach is rooted in the behavioral aspect of personal finance, recognizing that small victories can lead to increased motivation and a positive mindset for long-term financial success. By starting with manageable debts and gradually working towards larger ones, individuals can build momentum and maintain focus on their debt repayment goals.


Money is not good or evil. It has no morals or intentions on its own. Money reflects the character of the user.

Dave Ramsey

Ramsey emphasizes that money itself does not possess inherent moral qualities or intentions. Rather, he suggests that money reflects the values, priorities, and character of the individuals who use it.

According to Ramsey’s perspective, how money is earned, spent, and managed is a reflection of a person’s mindset, choices, and ethical considerations. Money can be utilized for both positive and negative purposes, depending on the intentions and actions of the individual handling it.

This viewpoint emphasizes personal responsibility and accountability in financial matters. It encourages individuals to approach money with integrity, make wise choices, and align their financial decisions with their values and long-term goals.

By recognizing the influence of one’s character on financial behavior, Ramsey highlights the importance of developing a healthy relationship with money and making conscious choices that align with one’s principles and aspirations.


The first step in taking control of your money is to stop borrowing money. Start using cash today.

Dave Ramsey

Ramsey, relying on cash rather than borrowing money can be a powerful step towards financial independence and responsible money management. By using cash, individuals have a tangible and visual representation of their spending, which can help them stay within their budget and avoid accumulating debt.

Ramsey’s approach encourages individuals to break free from the cycle of borrowing and living beyond their means. Instead, he suggests building an emergency fund, saving money, and making intentional purchasing decisions with cash on hand.

While transitioning to a cash-based system may not be feasible or practical for everyone, the underlying principle of being mindful of one’s spending and avoiding unnecessary debt is valuable. The key idea is to promote financial discipline, live within one’s means, and make informed financial choices that support long-term financial stability.


Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.

Dave Ramsey

Ramsey suggests that true financial success and peace come from learning to live below one’s income. By spending less than what is earned, individuals can create a gap between their income and expenses, allowing them to allocate funds towards savings, investments, and charitable giving.

The underlying idea is that by embracing a frugal and disciplined approach to personal finance, individuals can gain control over their money and make it work for them in the long run. This involves making intentional choices about spending, prioritizing savings, and seeking opportunities for investment and growth.

Ramsey’s philosophy highlights the importance of financial stewardship and aligns with the principles of budgeting, saving, and mindful spending. By adopting these practices, individuals can achieve financial stability, create opportunities for future growth, and experience the peace that comes with being in control of their finances


People will not buy from you if they don’t trust you, your product, and your company.

Dave Ramsey

Ramsey highlights the significance of trust in building successful business relationships. According to him, trust is essential not only in the product or service being offered but also in the company and the individuals representing it.

Customers are more likely to make a purchase when they have confidence in the credibility, reliability, and reputation of the business and its offerings. Trust is built through consistent delivery of quality products or services, transparent communication, ethical business practices, and maintaining a strong track record.

Ramsey’s quote underscores the importance of fostering trust with customers as a foundational element for business success. When customers trust a company and its representatives, they are more likely to become loyal patrons, repeat customers, and even advocates for the brand.

By prioritizing trust and focusing on building long-term relationships with customers, businesses can establish a solid foundation of credibility and enhance their chances of success in the marketplace.


Winning at money is 80 percent behavior and 20 percent head knowledge.

Dave Ramsey

Ramsey often emphasizes that achieving financial success is primarily dependent on behavior and mindset, rather than solely on acquiring knowledge or expertise in financial matters.

According to Ramsey, 80 percent of achieving financial success comes down to one’s behavior, habits, and choices related to money. This includes factors such as budgeting, saving, avoiding debt, living within one’s means, and making wise financial decisions.

While having knowledge about personal finance is important, Ramsey suggests that it is the application of that knowledge through disciplined behavior that leads to positive financial outcomes. Understanding concepts like budgeting, investing, and debt management is valuable, but putting them into practice consistently is crucial.

Ramsey’s philosophy highlights the significance of personal responsibility, self-discipline, and making intentional choices that align with long-term financial goals. By focusing on developing healthy financial behaviors, individuals can have a greater impact on their financial well-being and achieve success in managing their money effectively.


I do recommend that most people sell the car with the most debt on it. A good rule of thumb on items (except the house) is this: if you can’t be debt-free on it (not counting the home) in eighteen to twenty months, sell it. If you have a car or a boat that you can’t pay off in eighteen to twenty months, sell it. It is just a car; dynamite the logjam! I used to love my car, too, but I found keeping that huge debt while trying to get out of debt was like running a race wearing ankle weights. Get a Total Money Makeover, so later you can drive anything you want and pay cash for it. When it comes to that debt-ridden item, you may have to make the decision to live like no one else; but remember, later you will be living, or driving, like no one else.

Dave Ramsey

In this quote, Ramsey advises individuals to consider selling a vehicle or any item with substantial debt if they cannot become debt-free on it (excluding the home) within eighteen to twenty months.

Ramsey encourages individuals to prioritize debt elimination and financial freedom over holding onto possessions that contribute to a significant financial burden. He suggests that selling the item, such as a car or boat, can help alleviate the weight of debt and accelerate the journey towards becoming debt-free.

Ramsey acknowledges that letting go of a beloved possession may require making sacrifices and living differently from others in the short term. However, he emphasizes the long-term benefits of regaining financial control and the ability to make cash purchases without being burdened by debt.

The underlying message in this quote aligns with Ramsey’s overall approach, which promotes financial discipline, responsible decision-making, and the pursuit of financial freedom through eliminating debt and living within one’s means. It encourages individuals to prioritize their financial well-being over material possessions and ultimately achieve a Total Money Makeover.


Your greatest asset is your paycheck.

Dave Ramsey

In this quote, Ramsey highlights the importance of one’s paycheck as a significant asset in personal finance.

Ramsey often emphasizes the idea that the paycheck is the primary source of income for most individuals and serves as the foundation for managing finances effectively. It represents the hard work and effort put into one’s occupation or career.

Recognizing the paycheck as a valuable asset encourages individuals to approach their earnings with responsibility and intention. It emphasizes the need to manage the paycheck wisely by budgeting, saving, and making informed financial decisions.

By considering the paycheck as an asset, individuals can gain a deeper understanding of its significance in achieving financial goals. Ramsey’s philosophy encourages individuals to prioritize financial discipline, live within their means, and make the most of their earnings to build a solid financial foundation.

Ultimately, the quote serves as a reminder that being mindful of one’s paycheck and using it strategically can contribute to long-term financial well-being and success.

Dave Ramsey Quotes about Wealth

Debt is not a tool; it is a method to make banks wealthy, not you. The borrower truly is slave to the lender.

Dave Ramsey

Someone who never has fun with money misses the point.

Dave Ramsey

Fun can be bought with money, but happiness cannot.

Dave Ramsey

A budget is telling your money where to go instead of wondering where it went.

Dave Ramsey

A typical millionaire lives in a middle-class home, drives a two-year-old or older paid-for car, and buys blue jeans at Wal-Mart.

Dave Ramsey

You can’t work three hours a week and make $100,000.

Dave Ramsey

Measure your wealth not by the things you have, but by the things for which you would not take money.

Dave Ramsey

Don’t medicate dysfunction with spending. No amount of stuff will get rid of guilt.

Dave Ramsey

Parents who let teens run around with unearned adult freedoms are naive and stupid.

Dave Ramsey

There are no shortcuts when it comes to getting out of debt.

Dave Ramsey

Earning a lot of money is not the key to prosperity. How you handle it is.

Dave Ramsey

The love of money, not money, is the root of all evil.

Dave Ramsey

If I loan money to a friend or relative, the relationship will be strained or destroyed. The only relationship that would be enhanced is the kind resulting from one party being the master and the other party a servant.

Dave Ramsey

You will either learn to manage money, or the lack of it will manage you.

Dave Ramsey

A lower interest rate doesn’t make a debt go away.

Dave Ramsey
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