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You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity.

So when I started teaching this information 35 years ago, I had discovered common sense.

Gods and Grandma's ways of handling money.

After I went broke, when I went broke I was making a couple of hundred thousand dollars a year year and I had a net worth of a

million dollars in real estate and I have all the letters and licenses after my

name and all the academic bull crap that says I'm supposed to know something about

money and I went broke.

So obviously something I learned with the academic bullcrap was just that bullcrap.

Now obviously some of it was right.

But I learned from old people that had money

and from basic common sense things in the Bible

that you have to live on less than you make.

You have to live on a less than you make. You have to live on a budget, a written plan. No one goes

to success accidentally. You have to get out of debt and stay out of debt.

Your most powerful wealth building tool is your income.

You have to save and invest and discover the eighth wonder of the world, Einstein called it compound interest.

And you have to be outrageously generous.

These are five components that are principles of life that are ancient and they are

proven. Then the next thing I had to figure out and it took me a few years was in how do I apply them in the real world?

Well I'm going to cut up my credit cards, I'm going to get on a budget, I'm going to not borrow money for a car.

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