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{{Short description|American financial advisor, author and radio personality}}
'''David L. Ramsey III''' (born September 3, 1960) is an American financial author, ], ], and ]. His show and writings strongly focus on encouraging people to get out of ].
{{Distinguish|Dave Ramsay|Dave Rumsey (disambiguation)}}
{{Use American English|date=January 2025}}
{{similar names|David Ramsey (disambiguation)}}
{{Use mdy dates|date=January 2022}}
{{Infobox writer
| name = Dave Ramsey
| image = Dave Ramsey by Gage Skidmore.jpg
| caption = Ramsey in 2023
| pseudonym =
| birth_date = {{Birth date and age|1960|9|3}}<ref>''Dave Ramsey Show'' Newstalk 550 KTSA. San Antonio, Texas. September 3, 2012. Radio.</ref>
| birth_place = ], U.S.
| death_date =
| death_place =
| occupation = Personal finance consultant, radio show host, author
| period =
| subject = Personal finance
| notableworks = '']''
| movement =
| spouse = Sharon Ramsey
| children = 3, including ]
| relatives =
| signature =
| alma_mater = ] (])
| website = {{URL|ramseysolutions.com}}
| module = {{Infobox person|child=yes}}
}}


'''David Lawrence Ramsey III''' (born September 3, 1960) is an American radio personality, author, speaker, and finance expert. He is the owner and CEO of ] and co-hosts the nationally syndicated radio program '']''. Ramsey has written several books, including ] ''].''
Ramsey's ] radio program '']'' is heard on more than 500 radio stations throughout the United States and Canada, as well as in ] format and on ] and ].<ref name="Axia Interview: Blake Thompson">{{cite web|url=http://www.axiaaudio.com/interviews/features/ramsey.htm|title=Axia Interview with Blake Thompson, producer of The Dave Ramsey Show|accessdate=2006-12-03|publisher=www.axiaaudio.com}}</ref> He has written numerous books including four New York Times bestsellers. His books and broadcasts often feature a ] perspective that reflects Ramsey's religious beliefs. Ramsey was named the 2009 Marconi Award winner for Network/Syndicated Personality of the Year.<ref name="2009 Marconi Award winners">{{cite web|url=http://www.nab.org/AM/Template.cfm?Section=Press_Releases1&CONTENTID=14966&TEMPLATE=/CM/ContentDisplay.cfm|title=2009 NAB MARCONI RADIO AWARD WINNERS ANNOUNCED}}</ref>


==Early life==
Ramsey's company, The Lampo Group, Inc., is headquartered in ], and oversees three divisions geared toward financial counseling.
Ramsey was born in ], to successful real estate agents and developers.{{R|"gospeldave"}} He attended ] where he played ice hockey.{{cn|date=December 2024}} At age 18, Ramsey took the real estate exam{{R|"gospeldave"}} and began selling property, working through college at the ],{{R|"gospeldave"}} where he earned a Bachelor of Science degree in finance and real estate.{{R|"aboutdave"}}


==Career==
Ramsey has been featured on many media outlets including '']'', '']'', and '']'' on ]. He recorded a pilot and six unaired episodes of ''The Dave Ramsey Project''<ref name=DaveGospel>{{cite web|url=http://www.nashvillescene.com/2007-05-31/news/the-gospel-according-to-dave/ |title=The Gospel According to Dave |publisher=''Nashville Scene'' |first=Susan |last=Drury |date=2007-05-31 |accessdate=2007-07-16}}</ref> for CBS. He was the host of '']'', which aired at 8 p.m. ] and repeated weekdays on the ] until June 2010. <ref></ref>
By 1986, Ramsey had amassed a portfolio worth over $4{{spaces}}million.{{R|"GRI"}}{{R|"ocalacrusades"}} However, when the Competitive Equality Banking Act of 1987 took effect, several banks changed ownership and called his $1.2{{spaces}}million in loans and lines of credit because he was over-leveraged.{{R|"gospeldave"}} Ramsey was unable to pay and filed for bankruptcy in 1988.<ref>{{cite web |last1=Ramsey |first1=Dave |title=Home Page |url=https://www.ramseysolutions.com/dave-ramsey |website=www.ramseysolutions.com |access-date=21 February 2024}}</ref>


Ramsey experienced several years of financial recovery and began offering financial advice to couples at his local church.{{R|"ocalacrusades"}} In 1988, he founded The Lampo Group, a financial counseling service (now known publicly as ]),{{R|"ocalacrusades"}} and in 1992 he wrote and self-published his first book, ''Financial Peace''.{{R|"GRI"}}{{R|"gospeldave"}}
==Biography==
Ramsey was born and raised in ]. He was a 1982 graduate of the College of Business Administration at ] With the nickname "the cunt destroyer". At the age of 26, through his brokerage firm, Ramsey Investments, Inc., he built a rental real estate portfolio worth more than $4 million and became one of Tennessee's youngest brokers to be admitted to the Graduate Realtors Institute.<ref name="GRI">{{cite book | title=Financial Peace Revisited| last=Ramsey| first=Dave| coauthors=Sharon Ramsey| year=2003| page=325| publisher=Viking Penguin| location=Harmondsworth, Middlesex, England| id=0-670-03208-5}}</ref>


Ramsey began as one of three alternating hosts of ''The Money Game'' on radio station WWTN/Nashville in 1992. The show eventually became ''The Dave Ramsey Show'', Ramsey's daily three-hour call-in financial advice talk show.{{R|"gospeldave"}}{{R|"rhof"}}
Ramsey was a licensed insurance agent in the State of Tennessee from 6/18/1984 until his license expired in 10/07/1996. His producers license number was 0652539. His record with the state can still be found online by visiting the lookup for license services.<ref>{{cite web|url=https://sbs-tn.naic.org/Lion-Web/jsp/sbsreports/AgentLookup.jsp |title=On-Line License Services |publisher=Sbs-tn.naic.org |date= |accessdate=October 11, 2012}}</ref>


Financial Peace University, Ramsey's nine-lesson, video-based personal finance course, debuted in 1994.{{R|"whisperer"}} The ] newspaper group ran his financial column, though dropped it when the newspaper realized that Ramsey had changed the names on the letters to which he was responding. He offered to pay them their money back.{{R|"gospeldave"}}'' The Dave Ramsey Show'' aired on the Fox Business Network from 2007 to 2010.
Ramsey's success soon came to an end as the ] began to have a negative impact on the real estate business. One of Ramsey's largest creditors was sold to a larger bank, which began to take a harder look at Ramsey's borrowing habits. The bank demanded he pay $1.2 million worth of short-term notes within 90 days, forcing him to file for bankruptcy relief.<ref name="GRI">{{cite book | title=Financial Peace Revisited| last=Ramsey| first=Dave| coauthors=Sharon Ramsey| year=2003| pages=1–4| publisher=Viking Penguin| location=Harmondsworth, Middlesex, England| id=0-670-03208-5}}</ref>


In 2014, '']'' reported that Ramsey had lashed out against former employees he claimed were discussing working conditions at the company on ] and ]. At company staff meetings, Ramsey recounted conversations from a private Facebook group of former employees that he had infiltrated, offered cash rewards for the identities of some members. Once they realized Ramsey had joined the private group, some anonymous Twitter accounts who alleged to be those workers and tweeted that he "pulled a gun out of a bag to try to teach a lesson about gossip".{{R|gallowaydeposition}} The incident prompted an increased backlash, a meeting Ramsey set up to confront critics, and the eventual deletion of several of the critical Twitter accounts.{{R|"dailybeast"}}
Ramsey began counseling couples at his local church. Soon after offering private counseling services, Ramsey began attending every workshop and seminar on consumer financial problems that he could find. He developed a simple set of lessons and materials based partially on his own experience and on works and teachings by ] and ].<ref></ref> In 1992, after many requests from his clients, he wrote his first book ''Financial Peace''.<ref name="GRI">{{cite book | title=Financial Peace Revisited| last=Ramsey| first=Dave| coauthors=Sharon Ramsey| year=2003| pages=Preface vii-xi| publisher=Viking Penguin| location=Harmondsworth, Middlesex, England| id=0-670-03208-5}}</ref>


On his radio show{{R|"davecovid"}} and in staff meetings in 2020, Ramsey railed against face coverings and other ] precautions, calling them "a sign of fear".{{R|"rnscovid"}} On his March 2, 2020, show, he mocked concerned ticket holders for his upcoming live events, calling anyone who wanted a refund a "wuss" and insisting that he would attend the "Live Like No One Else" cruise "by my freaking self" if necessary.{{R|bestplacetowork}}
Ramsey has been married to his wife, Sharon, for over 30 years; they have three children: Denise; Rachel; and Daniel. The family resides in ].<ref name="GRI">{{cite book | title=Financial Peace Revisited| last=Ramsey| first=Dave| coauthors=Sharon Ramsey| year=2003| pages=About the Author, pg 325| publisher=Viking Penguin| location=Harmondsworth, Middlesex, England| id=0-670-03208-5}}</ref>


In February 2021, Ramsey appeared on ], where he said, "I don't believe in ], because if $600 or $1,400 changes your life you were pretty much screwed already. You got other issues going on."{{R|stimuluschecks}}{{R|stimulusvideo}}
== The Dave Ramsey Show ==
{{Main|The Dave Ramsey Show (radio program)|The Dave Ramsey Show (TV program)}}


Ramsey has written five books for adults, three of which were '']'' bestsellers, and six children's books.{{R|"gospeldave"}}
Ramsey started his radio show, currently known as ''The Dave Ramsey Show,'' in 1992 under the title of ''The Money Game''. The radio show began on June 15, 1992. Originally a locally based show, it is now syndicated across the country. In 2007, the ] launched a television show under the same title, but canceled the show in June 2010. Dave also self-identifies as a devout born-again Christian. Many churches have adopted Dave Ramsey workshops for their members.


===Teachings===
==Related companies==
Ramsey advises listeners to reduce debt using the ], where debtors pay off their lowest balances first.{{R|"timedebt"}}{{R|"millenials"}} Ramsey opposes the use of credit cards.{{R|"peoplemag"}} At live shows, he sometimes takes out his wallet to show audiences the "only four pieces of plastic" he carries: A business debit card, a personal debit card, a driver's license, and a concealed-carry permit.{{R|"gospeldave"}}{{R|"millenials"}} Ramsey encourages the use of cash and advises families to utilize an ], putting a cash allocation for each month's food, entertainment, and other expenses in separate envelopes and then spending only what is in the envelope.{{R|"pacificstandard"}} Ramsey encourages people not to take on student loan debt{{R|"millenials"}} and calls the idea that student loans are required for college "a myth".<ref>{{Cite web|url=https://www.knoxnews.com/story/entertainment/columnists/dave-ramsey/2019/02/16/parents-shouldnt-co-sign-student-loans-dave-ramsey/2779888002/|title=Parents shouldn't co-sign student loans|first=Dave|last=Ramsey|website=Knoxville News Sentinel}}</ref>
===The Lampo Group, Inc.===
Ramsey founded his company, The Lampo Group, Inc., in 1992,<ref name="Company History">{{cite web|url=http://www.daveramsey.com/etc/cms/index.cfm?intContentID=2797|title=Our Company History|accessdate=2006-12-03|publisher=daveramsey.com|year=2006|author=Dave Ramsey |archiveurl = http://web.archive.org/web/20061018173517/http://www.daveramsey.com/etc/cms/index.cfm?intContentID=2797 <!-- Bot retrieved archive --> |archivedate = 2006-10-18}}</ref> initially helping people one-on-one who were struggling with financial issues. In 1994 he hired Russ Carroll, Ramsey's lead financial counselor, and together they began teaching the first Financial Peace University classes on overhead projectors.<ref name="Company History" /> Between 1999 and 2004, The Lampo Group grew from 18 to 105 team members. There are currently over 300 team members.


==== Efficacy ====
Ramsey runs his business completely debt-free, an accomplishment he states was critical to the success of his company.<ref name="Inside Radio">{{cite web|url=http://ftp.media.radcity.net/ZMST/daily/IS032405.pdf|title=The Inside Story with Mike Kinosian: Behind The Dave Ramsey Show|accessdate=2006-12-03|publisher=InsideRadio.com|year=2005|author=Mike Kinosian|format=PDF}}</ref>
Critics of Ramsey's core teachings point out that they are often a "one-size-fits-all" approach that disregards income disparities, investment horizon, and ignores financial emergencies.<ref>{{Cite web |last=Chang |first=David |date=2022-10-29 |title=3 Reasons Not to Listen to Dave Ramsey |url=https://www.fool.com/the-ascent/personal-finance/articles/3-reasons-not-to-listen-to-dave-ramsey/ |access-date=2023-08-11 |website=www.fool.com |language=en}}</ref>{{R|"pacificstandard"}}{{R|"millenials"}} The debt snowball method is frequently debated, and studies have returned results that both support and oppose its efficacy.{{R|"forbessnowball"}}<ref>{{Cite web |title=Paying Down Credit Card Debt &#124; Questrom School of Business |url=https://www.bu.edu/questrom/2017/01/05/paying-back-those-swipes/ |website=www.bu.edu}}</ref> Ramsey's investing advice has also drawn criticism over its reliance on stock investment, as opposed to bonds, using mutual funds with load fees, and its frequent claim of 12% annual returns on investments.{{R|"nytstock"}}{{R|"motleyfool"}}{{R|"loadfund"}}


==Personal life==
===Financial Peace University===
Ramsey married his wife Sharon in 1982. The Ramseys have three children: Denise Whittemore, ], and Daniel Ramsey. All three work for Ramsey Solutions.<ref>{{Cite web |title=Leadership |url=https://www.ramseysolutions.com/company/leadership?srsltid=AfmBOoqhrIdK8rAPZBZEfi2ErfOhSuk5LLDW82R0f4j4lkVUvIOmuTdk |access-date=2025-01-20 |website=Ramsey Solutions |language=en-US}}</ref>
Ramsey is also the creator of '''Financial Peace University''', a biblically-based video training series for adults, and a companion series targeted at teenagers that has been offered in schools across the nation. The video series lasted for 13 weeks until August 2012 when it was relaunched as a nine week program. Some topics covered in the series are cash flow planning, investing, saving, credit, retirement, and giving.<ref name="FPNG">{{cite web|url=http://www.daveramsey.com/etc/cms/index.cfm?intContentID=6772|title=THOUSANDS OF STUDENTS ACROSS THE COUNTRY LEARN LIFES FINANCIAL LESSONS FROM DAVE RAMSEY|accessdate=2007-03-21|publisher=DaveRamsey.com|year=2007|author=Beth Tallent |archiveurl = http://web.archive.org/web/20070515231859/http://www.daveramsey.com/etc/cms/index.cfm?intContentID=6772 <!-- Bot retrieved archive --> |archivedate = 2007-05-15}}</ref>


Ramsey was inducted into the ] in 2015.{{R|"rhof"}}
===Share It!===
"Share It!" is a foundation created by Dave and Sharon Ramsey for the purpose of working with other ] organizations such as housing initiatives, work to success projects, domestic violence shelters, drug and alcohol recovery programs, crisis pregnancy centers, youth outreaches, and high schools to help others become financially literate.<ref name="shareittoday">{{cite web|url=http://www.shareittoday.org/index.cfm?fuseaction=dspContent&intContentID=3153|title=About Us|accessdate=2006-12-03|publisher=shareittoday.org}}</ref>


Ramsey had an estimated net worth of $55 million as of 2018.<ref>{{Cite web |last=Alberta |first=Tim |title=The Financial Whisperer to Trump's America |url=http://politi.co/2p1KNlz |access-date=2023-02-04 |website=POLITICO Magazine |date=May 8, 2020 |language=en}}</ref> He sold his custom-built home in the ], area for $10.2{{spaces}}million in 2021 after living there for over a decade. A spokesperson said he was having another home built in the area.<ref>{{Cite web|date=November 24, 2021|title=Dave Ramsey Takes a Deep Discount, Sells Franklin, TN, Home for $10.2M|url=https://www.realtor.com/news/celebrity-real-estate/dave-ramsey-sells-tennessee-mansion/|access-date=December 17, 2021|website=Real Estate News & Insights {{!}} realtor.com®|language=en-US}}</ref>
===EntreLeadership===
The word '''EntreLeadership''' describes the responsibilities of a small business owner as an entrepreneur '''(Entre)''' and as a leader '''(Leadership)'''. EntreLeadership is also the name of a small business conference developed by Dave Ramsey. The principles presented at an EntreLeadership seminar are the core principles of how Ramsey grew his company, debt-free. EntreLeadership is available to small business owners in two forms; a one-day, abbreviated seminar, and a five-day master series located at a resort destination. The small business conference is personally taught by Ramsey and his leadership team. Ramsey also released a book titled '''Entreleadership''' in 2011. The book rose to the New York Times Bestseller's list nearly overnight. Entreleadership marked the 4th time Dave Ramsey has been listed on the New York Times Bestseller's list.<ref>{{cite web|url=http://www.daveramsey.com/entreleadership/home/ |title=EntreLeadership |publisher=daveramsey.com |date= |accessdate=October 11, 2012}}</ref>


Ramsey is an ]{{R|"millenials"}} who describes himself as ], both fiscally and culturally.{{R|"ocalacrusades"}}{{R|"whisperer"}} He has blamed politics for what he considers Americans' economic dependence, and has said presidents should do "as little as possible" about the economy.{{R|"whisperer"}} Ramsey has publicly stated he would vote for Republican ] in the ], but also plainly said that people should vote for which candidate best aligns with their political values.<ref name="Trump">{{Cite web|url=https://www.thedailybeast.com/finance-whiz-dave-ramsey-reveals-why-hes-voting-for-trump/|title=Finance Whiz Dave Ramsey Reveals Why He's Voting for Trump|date=October 19, 2024|first1=Lily Mae|last1=Lazarus|website=] }}</ref>
==Criticism and Countercriticism==

===Financial Criticism===

Ramsey is often criticized for advocating the debt snowball method (lowest balance first) by those preferring highest interest rate first approach.<ref>{{cite web|url=http://www.freeby50.com/2011/04/suze-orman-smacks-down-dave-ramsey.html |title=Suze Orman Smacks Down Dave Ramsey |publisher=Free By 50 |date=April 14, 2011 |accessdate=October 11, 2012}}</ref> However Time Magazine reports research which defends this method as more effective.<ref>{{cite web|last=Tuttle |first=Brad |url=http://moneyland.time.com/2012/08/16/the-verdict-is-in-tackle-smaller-debts-first/ |title=Paying Off Credit Card Debt: What is the Best Approach? &#124; Moneyland &#124; TIME.com |publisher=Moneyland.time.com |date=August 16, 2012 |accessdate=October 11, 2012}}</ref><ref>doi: 10.1509/jmr.11.0272</ref>

Ramsey is also criticized for his advice to stop retirement contributions while getting out of debt and building an emergency fund, even to the point of rejecting an employer match.<ref>{{cite web|url=http://www.pennywise2pennyworth.com/2011/02/examining-dave-ramseys-advice-stop.html |title=Examining Dave Ramsey's Advice: Stop Saving for Retirement While Paying Off Debt? |publisher=Pennywise2Pennyworth |date=February 5, 2011 |accessdate=October 11, 2012}}</ref> Ramsey responds that, as with the debt snowball, it is about the emotion not the math.<ref>{{cite web|url=http://www.daveramsey.com/company/faq/#start_investing |title=Frequently Asked Questions |publisher=daveramsey.com |date= |accessdate=October 11, 2012}}</ref>

The most common financial criticism is Ramsey's projection that investments will return 12% and in retirement you can draw 8% safely every year.<ref>{{cite web|last=Carrns |first=Ann |url=http://bucks.blogs.nytimes.com/2011/05/13/dave-ramseys-12-solution/ |title=Dave Ramsey's 12% Solution - NYTimes.com |publisher=Bucks.blogs.nytimes.com |date=May 13, 2011 |accessdate=October 11, 2012}}</ref><ref>{{cite web|url=http://whitecoatinvestor.com/how-dave-ramsey-may-be-leading-you-astray/ |title=How Dave Ramsey May Be Leading You Astray &#124; The White Coat Investor- Investing And Personal Finance Information For Physicians, Dentists, Residents, Students, And Other Highly-Educated Busy Professionals |publisher=The White Coat Investor |date=July 25, 2012 |accessdate=2012-10-11}}</ref> Ramsey defends this by pointing to his own returns and historical stock market averages.<ref>{{cite web|url=http://www.daveramsey.com/article/the-12-reality/lifeandmoney_investing/ |title=The 12% Reality |publisher=daveramsey.com |date=April 23, 2012 |accessdate=October 11, 2012}}</ref> He pointed to a specific fund that he invested in with that track record over its 78 year history. This was determined to be American Fund's Investment Company of America.<ref>{{cite web|url=http://money.stackexchange.com/questions/13980/what-mutual-funds-does-dave-ramsey-invest-in |title=What Mutual Funds does Dave Ramsey Invest in? - Personal Finance and Money Beta - Stack Exchange |publisher=Money.stackexchange.com |date= |accessdate=October 11, 2012}}</ref>

===Doctrinal Criticism===

The '']'' has reported that Ramsey occasionally receives e-mails and letters containing the Bible verse: "And again I say unto you, It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God." (Matthew 19:24 ]) Ramsey interprets such communications to be a rebuke of his own wealth and a call for poverty, and dismisses these letters as “doctrinal nitpicking.”<ref name="DaveGospel" />

Ramsey also feels that people should be good stewards with what God has given them, such as is illustrated with Matthew 25:13-30.{{Citation needed|date=October 2012}}

Ramsey states that no one would remember the good samaritan if he'd only had good intentions; he had money as well. The good Samaritan had a good heart and a heavy enough purse to pay an innkeeper to help take care of the injured man. Money was involved. Ramsey states money was at its best that day, and that money gives power to good intentions. That is why he states he is unashamedly in favor of building wealth. <ref name = Total Money Makeover> {The Total Money Makeover, Thomas Nelson Publishers 2009, Dave Ramsey. P. 213} </ref>

== Publications ==
===Financial advice===
* ''Financial Peace: Restoring Financial Hope to You and Your Family'' (1997) ISBN 0-670-87361-6
* ''The Financial Peace Planner: A step-by step guide to restoring your family's financial health'' (1998) ISBN 0-14-026468-X
* ''How to Have More than Enough: A Step-by-Step Guide to Creating Abundance'' (2000) ISBN 0-14-028193-2
* ''More than Enough: The Ten Keys to Changing Your Financial Destiny '' (2002) ISBN 0-14-200047-7
* ''Financial Peace Revisited'' (2002) ISBN 0-670-03208-5
* ''The Total Money Makeover: A Proven Plan For Financial Fitness'' (2003) ISBN 0-7852-6326-8
* ''Total Money Makeover Workbook'' (2004) ISBN 0-7852-6327-6
* ''The Money Answer Book: Quick Answers to Everyday Financial Questions '' (2005) ISBN 0-8499-9619-8
* ''Priceless: Straight-Shooting, No-Frills Financial Wisdom'' (2006) ISBN 0-9774895-9-0
* ''EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches'' (2011) ISBN 978-1-4516-1785-6

===Kids' books===
* ''The Super Red Racer: Junior Discovers Work'' (2003) ISBN 0-9726323-0-1
* ''Careless At The Carnival: Junior Discovers Spending'' (2003) ISBN 0-9726323-1-X
* ''The Big Birthday Surprise: Junior Discovers Giving'' (2003) ISBN 0-9726323-2-8
* ''My Fantastic Fieldtrip: Junior Discovers Saving'' (2003) ISBN 0-9726323-3-6
* ''A Special Thank You: Junior Discovers Integrity'' (2005) ISBN 0-9769630-0-0
* ''Battle of the Chores: Junior Discovers Debt'' (2005) ISBN 0-9769630-1-9

===Contributions===
* ''48 Days to the Work You Love'' by Dan Miller, Foreword by Dave Ramsey (2005) ISBN 0-8054-3188-8

===Spanish Translations===
''The Total Money Makeover'', ''Financial Peace Revisited'', and ''More than Enough'' have been translated into Spanish.

==See also==
*]
*]
*]
*]
*]


==References== ==References==
{{reflist|refs=
{{Reflist}}
<ref name="GRI">{{cite book | title=Financial Peace Revisited| last=Ramsey| first=Dave|author2=Sharon Ramsey| year=2003| page=325| publisher=Viking Penguin| location=Harmondsworth, Middlesex, England| id=0-670-03208-5}}</ref>
<ref name="aboutdave">{{Cite web|url=https://www.daveramsey.com/pr/about-dave-ramsey|title=Check out the latest from Dave Ramsey!|website=daveramsey.com|language=en|access-date=March 30, 2020}}</ref>
<ref name="ocalacrusades">{{cite web |last1=Ross Jr. |first1=Bobby |title=Christian financial guru crusades against overspending |url=https://news.google.com/newspapers?nid=1356&dat=20030331&id=VLtNAAAAIBAJ&pg=6793,8240090 |website=Google News |publisher=Ocala Star-Banner |access-date=January 5, 2021 |archive-url=https://archive.today/20210105211307/https://news.google.com/newspapers?nid=1356&dat=20030331&id=VLtNAAAAIBAJ&pg=6793,8240090 |archive-date=January 5, 2021 |page=6C |date=March 31, 2003}}</ref>
<ref name="rhof">{{cite web |title=Dave Ramsey |url=https://www.radiohalloffame.com/dave-ramsey |website=Radio Hall of Fame |access-date=January 5, 2021 |archive-url=https://archive.today/20210105223800/https://www.radiohalloffame.com/dave-ramsey |archive-date=January 5, 2021}}</ref>
<ref name="gospeldave">{{cite web |last1=Drury |first1=Susan |title=The Gospel According to Dave |url=https://www.nashvillescene.com/news/article/13014787/the-gospel-according-to-dave |website=Nashville Scene |access-date=January 6, 2021 |archive-url=https://archive.today/20210106012206/https://www.nashvillescene.com/news/article/13014787/the-gospel-according-to-dave |archive-date=January 6, 2021 |date=May 31, 2007}}</ref>
<ref name="timedebt">{{cite magazine |last1=White |first1=Martha |title=The Verdict Is In: Tackle Smaller Debts First |url=https://business.time.com/2012/08/16/the-verdict-is-in-tackle-smaller-debts-first/ |magazine=] |access-date=January 6, 2021 |archive-url=https://archive.today/20130204103245/http://business.time.com/2012/08/16/the-verdict-is-in-tackle-smaller-debts-first/ |archive-date=February 4, 2013 |date=August 16, 2012}}</ref>
<ref name="nytstock">{{cite web |last1=Carrns |first1=Ann |title=Dave Ramsey's 12% Solution |url=https://bucks.blogs.nytimes.com/2011/05/13/dave-ramseys-12-solution/ |website=The New York Times |access-date=January 6, 2021 |archive-url=https://archive.today/20130104112133/http://bucks.blogs.nytimes.com/2011/05/13/dave-ramseys-12-solution/ |archive-date=January 4, 2013 |date=May 13, 2011}}</ref>
<ref name="motleyfool">{{cite web |last1=Stoffel |first1=Brian |title=Dangerous Retirement Planning Advice From Financial Guru Dave Ramsey |url=https://www.fool.com/investing/general/2013/06/03/dangerous-retirement-planning-advice-from-financia.aspx |website=The Motley Fool |access-date=January 6, 2021 |archive-url=https://archive.today/20210106025122/https://www.fool.com/investing/general/2013/06/03/dangerous-retirement-planning-advice-from-financia.aspx |archive-date=January 6, 2021 |date=June 3, 2013}}</ref>
<ref name="millenials">{{cite web |last1=Bahler |first1=Kristen |title=Broke Millennials Are Flocking to Financial Guru Dave Ramsey. Is His Advice Any Good? |url=https://money.com/dave-ramsey-money-debt-free/ |website=] |access-date=January 6, 2021 |archive-url=https://archive.today/20210106032103/https://money.com/dave-ramsey-money-debt-free/ |archive-date=January 6, 2021 |date=April 16, 2019}}</ref>
<ref name="loadfund">{{cite web |last1=Salmon |first1=Felix |title=Save like Dave Ramsey&nbsp;... Just Don't Invest Like Him? |url=https://money.com/save-like-dave-ramsey-just-dont-invest-like-him/ |website=Money|access-date=February 2, 2021 |archive-url=https://archive.today/20210212044321/https://money.com/save-like-dave-ramsey-just-dont-invest-like-him/ |archive-date=February 12, 2021 |date=September 26, 2013}}</ref>
<ref name="whisperer">{{cite web |last1=Alberta |first1=Tim |title=The Financial Whisperer to Trump's America |url=https://www.politico.com/magazine/story/2018/03/11/radio-dave-ramsey-2018-trump-217229 |website=] |access-date=January 7, 2021 |archive-url=https://archive.today/20180311110533/https://www.politico.com/magazine/story/2018/03/11/radio-dave-ramsey-2018-trump-217229 |archive-date=March 11, 2018}}</ref>
<ref name="gallowaydeposition">{{cite court |litigants=THE LAMPO GROUP, LLC, D/B/A RAMSEY SOLUTIONS v. KEVIN HELMUT PAFFRATH, PAFFRATH ORGANIZATION, MEETNDONE CORPORATION |pinpoint=18 |court=M.D. Tenn. |date=29 Oct 2019 |url=https://archive.org/download/galloway-deposition-in-ramsey-solutions-lawsuit/Galloway_Deposition.pdf}}</ref>
<ref name="dailybeast">{{cite web |last1=Turner |first1=Matthew Paul |title=Spies, Cash, and Fear: Inside Christian Money Guru Dave Ramsey's Social Media Witch Hunt |url=https://www.thedailybeast.com/spies-cash-and-fear-inside-christian-money-guru-dave-ramseys-social-media-witch-hunt |website=The Daily Beast |access-date=January 7, 2021 |archive-url=https://archive.today/20200913062057/https://www.thedailybeast.com/spies-cash-and-fear-inside-christian-money-guru-dave-ramseys-social-media-witch-hunt |archive-date=September 13, 2020 |date=May 29, 2014}}</ref>
<ref name="rnscovid">{{cite web |last1=Smietana |first1=Bob |title=Dave Ramsey, Christian personal finance guru, defies COVID-19 to keep staff at desks |url=https://religionnews.com/2020/12/11/dave-ramsey-christian-financial-guru-ridicules-covid-19-fears-plans-large-in-person-christmas-party/ |agency=] |access-date=January 9, 2021 |archive-url=https://archive.today/20201211232636/https://religionnews.com/2020/12/11/dave-ramsey-christian-financial-guru-ridicules-covid-19-fears-plans-large-in-person-christmas-party/ |archive-date=December 11, 2020 |date=December 11, 2020}}</ref>
<ref name="davecovid">{{cite web |last1=Ramsey |first1=Dave |title=This Has Gotten Out of Hand! – Dave Ramsey Rant |url=https://www.youtube.com/watch?v=6SRorZx3NYo&ab_channel=TheDaveRamseyShow |website=The Dave Ramsey Show – YouTube |access-date=January 9, 2021 |archive-url=https://archive.today/20210109014653/https://www.youtube.com/watch?v=6SRorZx3NYo&ab_channel=TheDaveRamseyShow |archive-date=January 9, 2021 |date=November 19, 2020}}</ref>
<ref name="peoplemag">{{cite web |last1=Grisby |first1=Lorna |title=Digging Out of Debt |url=https://people.com/archive/digging-out-of-debt-vol-47-no-6/ |website=] |access-date=January 16, 2021 |archive-url=https://archive.today/20210116192216/https://people.com/archive/digging-out-from-under-vol-32-no-19/ |archive-date=January 16, 2021 |date=February 17, 1997}}</ref>
<ref name="pacificstandard">{{cite web |authorlink = Helaine Olen|last1=Olen |first1=Helaine |title=The Prophet |url=https://psmag.com/social-justice/prophet-dave-ramsey-personal-finance-67269 |website=Pacific Standard |access-date=January 16, 2021 |archive-url=https://archive.today/20210116202200/https://psmag.com/social-justice/prophet-dave-ramsey-personal-finance-67269 |archive-date=January 16, 2021 |date=October 28, 2013}}</ref>
<ref name="forbessnowball">{{cite web |last1=Berger |first1=Rob |title=Debt Snowball Versus Debt Avalanche: What The Academic Research Shows |url=https://www.forbes.com/sites/robertberger/2017/07/20/debt-snowball-versus-debt-avalanche-what-the-academic-research-shows/?sh=46f21f141454 |website=Forbes.com |access-date=January 16, 2021 |archive-url=https://archive.today/20210116223719/https://www.forbes.com/sites/robertberger/2017/07/20/debt-snowball-versus-debt-avalanche-what-the-academic-research-shows/?sh=2e38aa7b1454 |archive-date=January 16, 2021 |date=July 20, 2017}}</ref>
<ref name="stimuluschecks">{{cite web |last1=Lonas |first1=Lexi |title=Dave Ramsey on stimulus checks: 'If $600 or $1,400 changes your life, you were pretty much screwed already' |url=https://thehill.com/homenews/news/538549-dave-ramsey-on-stimulus-checks-if-600-or-1400-changes-your-life-you-were-pretty |website=The Hill |access-date=February 23, 2021 |archive-url=https://archive.today/20210213110442/https://thehill.com/homenews/news/538549-dave-ramsey-on-stimulus-checks-if-600-or-1400-changes-your-life-you-were-pretty |archive-date=February 13, 2021 |date=February 11, 2021}}</ref>
<ref name="stimulusvideo">{{cite web |title=If a $600 Stimulus Check Changes Your Life, Then You're Already Screwed! |url=https://www.youtube.com/watch?v=bQUA1_Nm3Nc&ab_channel=TheRamseyShow-Highlights |website=The Ramsey Show on Youtube | date=February 11, 2021 |access-date=February 24, 2021}}</ref>
<ref name="bestplacetowork">{{cite web |last1=Smietana |first1=Bob |title=Is Dave Ramsey's empire the 'best place to work in America'? Say no and you're out |url=https://religionnews.com/2021/01/15/dave-ramsey-is-tired-of-being-called-a-jerk-for-his-stands-on-sex-and-covid/ |agency=Religion News Service |access-date=May 25, 2021 |archive-url=https://archive.today/20210130160737/https://religionnews.com/2021/01/15/dave-ramsey-is-tired-of-being-called-a-jerk-for-his-stands-on-sex-and-covid/ |archive-date=January 30, 2021 |date=January 15, 2021}}</ref>
}}


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Latest revision as of 22:43, 20 January 2025

American financial advisor, author and radio personality Not to be confused with Dave Ramsay or Dave Rumsey (disambiguation).

For other people with similar names, see David Ramsey (disambiguation).

Dave Ramsey
Ramsey in 2023Ramsey in 2023
Born (1960-09-03) September 3, 1960 (age 64)
Antioch, Tennessee, U.S.
OccupationPersonal finance consultant, radio show host, author
Alma materUniversity of Tennessee (BS)
SubjectPersonal finance
Notable worksThe Total Money Makeover
SpouseSharon Ramsey
Children3, including Rachel Cruze
Website
ramseysolutions.com

David Lawrence Ramsey III (born September 3, 1960) is an American radio personality, author, speaker, and finance expert. He is the owner and CEO of Ramsey Solutions and co-hosts the nationally syndicated radio program The Ramsey Show. Ramsey has written several books, including The New York Times bestseller The Total Money Makeover.

Early life

Ramsey was born in Antioch, Tennessee, to successful real estate agents and developers. He attended Antioch High School where he played ice hockey. At age 18, Ramsey took the real estate exam and began selling property, working through college at the University of Tennessee, Knoxville, where he earned a Bachelor of Science degree in finance and real estate.

Career

By 1986, Ramsey had amassed a portfolio worth over $4 million. However, when the Competitive Equality Banking Act of 1987 took effect, several banks changed ownership and called his $1.2 million in loans and lines of credit because he was over-leveraged. Ramsey was unable to pay and filed for bankruptcy in 1988.

Ramsey experienced several years of financial recovery and began offering financial advice to couples at his local church. In 1988, he founded The Lampo Group, a financial counseling service (now known publicly as Ramsey Solutions), and in 1992 he wrote and self-published his first book, Financial Peace.

Ramsey began as one of three alternating hosts of The Money Game on radio station WWTN/Nashville in 1992. The show eventually became The Dave Ramsey Show, Ramsey's daily three-hour call-in financial advice talk show.

Financial Peace University, Ramsey's nine-lesson, video-based personal finance course, debuted in 1994. The Gannett newspaper group ran his financial column, though dropped it when the newspaper realized that Ramsey had changed the names on the letters to which he was responding. He offered to pay them their money back. The Dave Ramsey Show aired on the Fox Business Network from 2007 to 2010.

In 2014, The Daily Beast reported that Ramsey had lashed out against former employees he claimed were discussing working conditions at the company on Facebook and Twitter. At company staff meetings, Ramsey recounted conversations from a private Facebook group of former employees that he had infiltrated, offered cash rewards for the identities of some members. Once they realized Ramsey had joined the private group, some anonymous Twitter accounts who alleged to be those workers and tweeted that he "pulled a gun out of a bag to try to teach a lesson about gossip". The incident prompted an increased backlash, a meeting Ramsey set up to confront critics, and the eventual deletion of several of the critical Twitter accounts.

On his radio show and in staff meetings in 2020, Ramsey railed against face coverings and other COVID-19 pandemic precautions, calling them "a sign of fear". On his March 2, 2020, show, he mocked concerned ticket holders for his upcoming live events, calling anyone who wanted a refund a "wuss" and insisting that he would attend the "Live Like No One Else" cruise "by my freaking self" if necessary.

In February 2021, Ramsey appeared on Fox News, where he said, "I don't believe in stimulus checks, because if $600 or $1,400 changes your life you were pretty much screwed already. You got other issues going on."

Ramsey has written five books for adults, three of which were New York Times bestsellers, and six children's books.

Teachings

Ramsey advises listeners to reduce debt using the debt snowball method, where debtors pay off their lowest balances first. Ramsey opposes the use of credit cards. At live shows, he sometimes takes out his wallet to show audiences the "only four pieces of plastic" he carries: A business debit card, a personal debit card, a driver's license, and a concealed-carry permit. Ramsey encourages the use of cash and advises families to utilize an envelope system, putting a cash allocation for each month's food, entertainment, and other expenses in separate envelopes and then spending only what is in the envelope. Ramsey encourages people not to take on student loan debt and calls the idea that student loans are required for college "a myth".

Efficacy

Critics of Ramsey's core teachings point out that they are often a "one-size-fits-all" approach that disregards income disparities, investment horizon, and ignores financial emergencies. The debt snowball method is frequently debated, and studies have returned results that both support and oppose its efficacy. Ramsey's investing advice has also drawn criticism over its reliance on stock investment, as opposed to bonds, using mutual funds with load fees, and its frequent claim of 12% annual returns on investments.

Personal life

Ramsey married his wife Sharon in 1982. The Ramseys have three children: Denise Whittemore, Rachel Cruze, and Daniel Ramsey. All three work for Ramsey Solutions.

Ramsey was inducted into the National Radio Hall of Fame in 2015.

Ramsey had an estimated net worth of $55 million as of 2018. He sold his custom-built home in the Nashville, Tennessee, area for $10.2 million in 2021 after living there for over a decade. A spokesperson said he was having another home built in the area.

Ramsey is an evangelical Christian who describes himself as conservative, both fiscally and culturally. He has blamed politics for what he considers Americans' economic dependence, and has said presidents should do "as little as possible" about the economy. Ramsey has publicly stated he would vote for Republican Donald Trump in the 2024 presidential election, but also plainly said that people should vote for which candidate best aligns with their political values.

References

  1. Dave Ramsey Show Newstalk 550 KTSA. San Antonio, Texas. September 3, 2012. Radio.
  2. ^ Drury, Susan (May 31, 2007). "The Gospel According to Dave". Nashville Scene. Archived from the original on January 6, 2021. Retrieved January 6, 2021.
  3. "Check out the latest from Dave Ramsey!". daveramsey.com. Retrieved March 30, 2020.
  4. ^ Ramsey, Dave; Sharon Ramsey (2003). Financial Peace Revisited. Harmondsworth, Middlesex, England: Viking Penguin. p. 325. 0-670-03208-5.
  5. ^ Ross Jr., Bobby (March 31, 2003). "Christian financial guru crusades against overspending". Google News. Ocala Star-Banner. p. 6C. Archived from the original on January 5, 2021. Retrieved January 5, 2021.
  6. Ramsey, Dave. "Home Page". www.ramseysolutions.com. Retrieved February 21, 2024.
  7. ^ "Dave Ramsey". Radio Hall of Fame. Archived from the original on January 5, 2021. Retrieved January 5, 2021.
  8. ^ Alberta, Tim. "The Financial Whisperer to Trump's America". Politico. Archived from the original on March 11, 2018. Retrieved January 7, 2021.
  9. THE LAMPO GROUP, LLC, D/B/A RAMSEY SOLUTIONS v. KEVIN HELMUT PAFFRATH, PAFFRATH ORGANIZATION, MEETNDONE CORPORATION, 18 (M.D. Tenn. 29 Oct 2019), Text.
  10. Turner, Matthew Paul (May 29, 2014). "Spies, Cash, and Fear: Inside Christian Money Guru Dave Ramsey's Social Media Witch Hunt". The Daily Beast. Archived from the original on September 13, 2020. Retrieved January 7, 2021.
  11. Ramsey, Dave (November 19, 2020). "This Has Gotten Out of Hand! – Dave Ramsey Rant". The Dave Ramsey Show – YouTube. Archived from the original on January 9, 2021. Retrieved January 9, 2021.
  12. Smietana, Bob (December 11, 2020). "Dave Ramsey, Christian personal finance guru, defies COVID-19 to keep staff at desks". Religion News Service. Archived from the original on December 11, 2020. Retrieved January 9, 2021.
  13. Smietana, Bob (January 15, 2021). "Is Dave Ramsey's empire the 'best place to work in America'? Say no and you're out". Religion News Service. Archived from the original on January 30, 2021. Retrieved May 25, 2021.
  14. Lonas, Lexi (February 11, 2021). "Dave Ramsey on stimulus checks: 'If $600 or $1,400 changes your life, you were pretty much screwed already'". The Hill. Archived from the original on February 13, 2021. Retrieved February 23, 2021.
  15. "If a $600 Stimulus Check Changes Your Life, Then You're Already Screwed!". The Ramsey Show on Youtube. February 11, 2021. Retrieved February 24, 2021.
  16. White, Martha (August 16, 2012). "The Verdict Is In: Tackle Smaller Debts First". Time. Archived from the original on February 4, 2013. Retrieved January 6, 2021.
  17. ^ Bahler, Kristen (April 16, 2019). "Broke Millennials Are Flocking to Financial Guru Dave Ramsey. Is His Advice Any Good?". Money. Archived from the original on January 6, 2021. Retrieved January 6, 2021.
  18. Grisby, Lorna (February 17, 1997). "Digging Out of Debt". People. Archived from the original on January 16, 2021. Retrieved January 16, 2021.
  19. ^ Olen, Helaine (October 28, 2013). "The Prophet". Pacific Standard. Archived from the original on January 16, 2021. Retrieved January 16, 2021.
  20. Ramsey, Dave. "Parents shouldn't co-sign student loans". Knoxville News Sentinel.
  21. Chang, David (October 29, 2022). "3 Reasons Not to Listen to Dave Ramsey". www.fool.com. Retrieved August 11, 2023.
  22. Berger, Rob (July 20, 2017). "Debt Snowball Versus Debt Avalanche: What The Academic Research Shows". Forbes.com. Archived from the original on January 16, 2021. Retrieved January 16, 2021.
  23. "Paying Down Credit Card Debt | Questrom School of Business". www.bu.edu.
  24. Carrns, Ann (May 13, 2011). "Dave Ramsey's 12% Solution". The New York Times. Archived from the original on January 4, 2013. Retrieved January 6, 2021.
  25. Stoffel, Brian (June 3, 2013). "Dangerous Retirement Planning Advice From Financial Guru Dave Ramsey". The Motley Fool. Archived from the original on January 6, 2021. Retrieved January 6, 2021.
  26. Salmon, Felix (September 26, 2013). "Save like Dave Ramsey ... Just Don't Invest Like Him?". Money. Archived from the original on February 12, 2021. Retrieved February 2, 2021.
  27. "Leadership". Ramsey Solutions. Retrieved January 20, 2025.
  28. Alberta, Tim (May 8, 2020). "The Financial Whisperer to Trump's America". POLITICO Magazine. Retrieved February 4, 2023.
  29. "Dave Ramsey Takes a Deep Discount, Sells Franklin, TN, Home for $10.2M". Real Estate News & Insights | realtor.com®. November 24, 2021. Retrieved December 17, 2021.
  30. Lazarus, Lily Mae (October 19, 2024). "Finance Whiz Dave Ramsey Reveals Why He's Voting for Trump". The Daily Beast.

External links

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