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Dave Ramsey has shared brutally honestmoneytips for decades.
He has helped people get out of debt and gain better control over their finances.
These are some of the brutally honest money tips Ramsey has shared over the years.
Work a Side Hustle
Ramsey has encouraged people to work side hustles to make extra income.
The side gig can help you move closer to your long-term financial goals.
While this advice has become quite popular in recent years, its worth repeating.
Side hustles have become more plentiful and flexible in recent years.
you might use a side hustle to get out of debt sooner and reach significant milestones with your investments.
The interest rate oncredit card debttypically ranges from 19.99% to 29.99% APR.
The overwhelming majority of investors are not producing that bang out of return with their investments.
Its better to pay off high-interest debt and then invest.
Ramsey discourages this bang out of behavior, saying that you shouldnt get into debt just to look cool.
He calls out people who look rich while being financially poor.
Setting this goal gives homeowners and renters the impression that they cannot stay where they are.
Thats a good mentality that can eventually turn housing into less than 25% of your income.
Some of these arrangements work out well, but its better not to find out in the first place.
Its hard to justify getting six figures into debt without a career to show for it.
Furthermore, many companies have stopped requiring college degrees for job applicants.
He only recommends colleges for people who havespecific career pathsor who can secure an affordable education.
Community college is also a viable option since you will get the same education while paying a lot less.
While its agood parenting tip, it also doubles as a money tip.
Having responsible adult children decreases the likelihood that they strain your finances in the future.
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