The short version of my story is that our notes got called and it took about two and a half years for us to lose everything we owned. We ended up with about $4 million dollars worth of real estate and then the banks all changed. We started buying and selling real estate, and you are right, we became wealthy, at least by a kid from Antioch, Tennessee standards. I was driving a 1902 Pinto and eating off a card table. My wife Sharon and I started with nothing when we got married. RAMSEY: I have done stupid with a lot of zero's on the end of it. What happened? Can you tell our viewers about your own personal financial journey? So, you have been at the top and you have certainly been at the bottom of the personal finance heap. In doing research for this interview, I read that you lost $4 million dollars in real estate dealings. So, there is some inspiration mixed in.ĬARPENTER: Now, you obviously have your own interesting story to tell in your own right. So, "Financial Peace" was what to do and "Total Money Makeover" is how people have done it with 50 stories of those who did it. They said, 'you teach these baby steps and we need to do a "how to" step by step process manual and we need to put some of these people's stories in there. So, I wanted to know how they did it, not the concepts but exactly how they applied them. The team from Thomas Nelson came to us and said "Financial Peace" is what to do but you have these people calling your radio show every day and saying 'I'm debt free!". The books sole purpose is to advise its readers on practical steps they can take to acquire enough wealth to take care of themselves, live prosperously into old age and give freely of their wealth to others.ĬBN.com Producer Chris Carpenter had the opportunity to sit down with Ramsey recently to discuss some of the pitfalls that many people face regarding their personal finances, how to overcome them, and ultimately how to grow wealth.ĬHRIS CARPENTER: Right off the bat, what was the inspiration for writing your new book "The Total Money Makeover"?ĭAVE RAMSEY: We had a New York Times bestseller called "Financial Peace" that sold over a million copies. In his latest book, The Total Money Makeover: A Proven Plan for Financial Fitness from Thomas Nelson Publishers, Ramsey teaches others to be financially responsible in a Biblically-based manner. He does so with advice that is centered on fundamentally sound financial, emotional, and spiritual principles. Ramsey has devoted his post bankruptcy life to helping ordinary, everyday people, understand the root of their financial woes while pointing them toward a series of steps to rebuild their personal finances. Instead, through a great deal perseverance he slowly rebuilt his finances to the point where today he can now call himself a millionaire again. Forced to claim bankruptcy, Ramsey didnt give up as many people do when they begin to flounder financially. He had successfully built a four million dollar real estate portfolio, only to lose it all within four years. A true riches to rags to riches story, the Tennessee native seemingly had it all by the tender age of 26. All you’re doing is letting people know what’s working and that you’re thankful for it - and - Immensely popular radio talk show host, nationally syndicated newspaper columnist, and personal finance expert Dave Ramsey is very familiar with financial peace or lack thereof. You’re not talking about jumping around and yelling about how great you are while saying everyone else is a doofus. You’re not firing shots at other people when you do something like this with the right heart and an attitude of gratitude and humility. You didn’t ask how to brag, you asked how you can still celebrate what’s going on in your business with your customers You know, in most cases people who ask this kind of question are already self-aware enough to celebrate their business success with grace and social awareness. How can I navigate this time without making others feel bad? In the past, I’ve always shared highlights with our customers to show them how amazing they are and how much their support means. With everything that’s going on in the world, I find myself ashamed to celebrate business successes. So many companies and entrepreneurs are hurting right now.
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