Dave Ramsey Net Worth [The Most Known Financial Guru]

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Net Worth:$200 million
Profession/Career:Personal finance consultant, radio show host, and author3
YouTube Channel:The Ramsey Show – Highlights (@TheRamseyShow)
College:University of Tennessee, Knoxville
Major/Degree:B.S. in Finance and Real Estate
Full Name:David Lawrence Ramsey III
Date of Birth:September 3, 1960
Generation:Baby Boomer
Place of Birth:Nashville, Tennessee
Height:6 feet 2 inches
Weight:198 lbs

His journey, marked by personal financial struggles and subsequent recovery, has inspired millions to take control of their financial futures.

Dave Ramsey’s Net Worth

Dave Ramsey’s net worth is estimated to be around $200 million.

Dave Ramsey is a renowned American personal finance expert, best known for his practical advice on debt elimination, savings, and wealth-building. He rose to fame with his syndicated radio show, “The Dave Ramsey Show,” where he offers financial guidance to listeners.

In addition to his radio presence, Ramsey has authored several best-selling books, including “The Total Money Makeover,” which introduces his signature “7 Baby Steps” program—a structured approach to achieving financial freedom. Beyond his media endeavors, Ramsey has developed educational courses like Financial Peace University, designed to teach individuals about sound money management.

His journey, marked by personal financial struggles and subsequent recovery, has inspired millions to take control of their financial futures.

Dave Ramsey’s Early Life and Childhood

Ramsey was born to real estate developers in Antioch, Tennessee. His upbringing was very affluent and marked with rich financial lessons that his parents made sure to bestow upon him. Ramsey attended Antioch High School, where he played ice hockey.

He furthered his education at The University of Tennessee, Knoxville, where he earned a Bachelor of Science degree in Finance and Real Estate, no doubt influenced by the fact that his parents made their living through real estate.

At the tender age of 18, Ramsey took the real estate exam and began selling property. He worked through his college years, and by 1986, he had built a rental real estate portfolio worth over $4 million. However, this success was short-lived. The Competitive Equality Banking Act of 1987 led several banks to change ownership. As a result, his $1.2 million in loans and lines of credit were recalled because he was over-leveraged. Unable to pay, Ramsey filed for bankruptcy in 1988.

After facing bankruptcy, Ramsey sought solace in spiritualism, reading the Bible, and attending his local church. It was during this period that he met an individual facing significant financial loss. Ramsey shared his story to motivate him and even structured a plan to help the man and his wife recover. This act of kindness and the realization of the impact of financial advice led Ramsey to provide financial counseling from a Christian perspective to couples at his local church. This was the foundation of his future career in financial counseling.

Ramsey’s experiences, combined with workshops and seminars on consumer financial problems, equipped him to establish a financial counseling company called ‘The Lampo Group.’ This venture eventually led to his radio show, ‘The Money Game,’ which later became ‘The Dave Ramsey Show.’ His counseling-based approach and the success of ‘The Lampo Group’ paved the way for his books, courses, and other financial education endeavors.

Dave Ramsey’s Most Well-Known Products

Dave Ramsey is best known for his financial advice and teachings, which have been disseminated through various projects, works, courses, and other mediums. Here are some of his most well-known endeavors:

The Dave Ramsey Show: A syndicated radio program that airs on over 600 radio stations throughout the United States and Canada. The show also has a significant online presence through podcasts and YouTube.

Financial Peace University (FPU): A nine-lesson course that teaches individuals how to handle money using biblical wisdom and common sense. It covers topics like budgeting, investing, and getting out of debt. The cost to start Financial Peace University is $79.99. This enrollment fee allows you to join any class at no additional charge. If you’re married, this fee covers your spouse as well.

The Total Money Makeover: One of Ramsey’s most popular books having sold over 5 million copies, it offers a comprehensive plan for getting out of debt and achieving financial health. This book’s MSRP is $28.99 for the hardcover and $16.99 for the eBook.

EntreLeadership: A book and a program that teaches leadership and business principles. It’s designed for business leaders and entrepreneurs.

EveryDollar: A budgeting tool and app developed by Ramsey Solutions to help users create a monthly budget, track expenses, and manage money. The exact price for the premium version of EveryDollar is not explicitly mentioned on the Ramsey Solutions Store. However, the Ramsey+ membership, which includes the premium version of EveryDollar along with other financial education services and features, starts at $59.99 for three months (which equates to $19.99 per month) and costs $129.99 for a year (or $10.83 a month, billed annually).

Smart Money Smart Kids: A book co-authored with his daughter, Rachel Cruze, which focuses on teaching parents how to raise money-smart kids in a debt-filled world.

The Baby Steps: A set of seven sequential steps that Ramsey recommends for achieving financial peace and security. They include saving for an emergency fund, paying off debt, and investing for retirement and wealth-building.

The Legacy Journey: A course that delves into the biblical roots of wealth and how one can leave a lasting legacy.

Chris Hogan’s Retire Inspired: While not directly by Ramsey, this project is under the Ramsey Solutions umbrella. Chris Hogan, a trusted voice in the Ramsey organization, offers advice on retirement planning.

Rachel Cruze’s Love Your Life, Not Theirs: Again, while not directly by Ramsey, Rachel Cruze, his daughter, is a significant figure in the Ramsey Solutions world. Her book focuses on living within one’s means and avoiding the pitfalls of comparison.

These endeavors all have helped solidify Dave Ramsey’s reputation as one of the leading voices in personal finance in the United States.

Dave Ramsey’s Controversies

Dave Ramsey, while widely respected for his financial advice and teachings, has not been without controversy. Here are some of the controversies associated with him:

Debt Snowball Method Criticism: Ramsey’s “debt snowball” method, which advises paying off the smallest debts first regardless of interest rates, has been criticized by some financial experts. They argue that it’s more cost-effective to pay off higher-interest debts first.

Investment Return Expectations: Ramsey has been criticized for suggesting that investors can expect a 12% return on their investments annually. Many financial experts believe this is overly optimistic and not realistic given historical stock market returns.

COVID-19 Response: In 2020, Ramsey faced criticism for his response to the COVID-19 pandemic. He was reported to have downplayed the severity of the virus and continued to hold large in-person events.

Employee Relations: There have been reports of former employees criticizing the work culture at Ramsey Solutions. Some have mentioned strict rules, including prohibitions against certain types of behavior outside of work.

Real Estate Purchase: Dave Ramsey’s purchase of a very expensive home in Tennessee raised eyebrows, with some seeing it as contradictory to his teachings on living below one’s means.

Bankruptcy Hypocrisy: Critics have pointed out that while Ramsey advises against bankruptcy at almost any cost, he himself filed for bankruptcy early in his life.

Religious Overtones: Some critics have taken issue with the religious overtones in Ramsey’s teachings, feeling that he mixes finance with religion in a way that might not resonate with or be relevant to all audiences.

Inspirational Quotes by Dave Ramsey

“If you will live like no one else, later you can live like no one else.”

“You must gain control over your money or the lack of it will forever control you.”

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

“Being willing to delay pleasure for a greater result is a sign of maturity.”

“Pray like it all depends on God, but work like it all depends on you.”

“Work is doing it. Discipline is doing it every day. Diligence is doing it well every day.”

“Goals are visions and dreams with work clothes on.”

“You’ve got to tell your money what to do or it will leave.”

“The decision to go into debt alters the course and condition of your life. You no longer own it. You are owned.”

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