Dave Ramsey’s Best Financial Advice for the Jewish Community

Kosher Money

Living Lchaim

Frum, Eli Langer, Management, Jew, Judaism, Religion & Spirituality, Business, Finances, Orthodox, Jewish, Careers

5 • 781 Ratings

🗓️ 20 December 2022

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Welcome to Kosher Money, a podcast that helps Orthodox Jews and people across the world make smart financial decisions and achieve their money goals. In this episode, we have a special guest: Dave Ramsey, the bestselling author and host of The Ramsey Show.

Dave is a personal finance expert who has helped millions of people get out of debt and build wealth. He is known for his practical, no-nonsense approach to money management, and the Kosher Money team wanted his takes on the unique nuances that Orthodox Jews face as it relates to money.

In this episode, we sat with Dave at Ramsey Solutions' new HQ in Franklin, TN to discuss biblical outlooks on money, his famous baby steps, the importance of aversion to debt, how financial stability impacts other core areas of life, financial education and children, charity, inflation, and SO much more!

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• Approved Funding: Looking to purchase a home? Looking to refinance? Looking to speak to a mortgage professional? Speak to Shmuel Shayowitz at https://approvedfunding.com/Mortgages/

• Colel Chabad: Please help Israel's neediest people! They need you! Visit https://www.ColelChabad.org/KosherMoney to make a much-needed donation!

MENTIONED LINKS

• Rabbi Lapin's 'Thou Shall Prosper' Book: https://amzn.to/3v4vLNu

• Ramsey's Real Estate Webinar: https://youtu.be/fORUvZNm3oo

• The Ramsey Show: https://www.youtube.com/@TheRamseyShow

• 'Baby Steps Millionaire' Book: https://amzn.to/3W2TQjv

• 'Total Money Makeover' Book: https://www.amzn.to/3G6fMVa

• Financial Peace University: https://bit.ly/3YubKgN

• Find More Financial Guidance at https://LivingSmarterJewish.org

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Transcript

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0:00.0	You don't get a pass on math just because of where you left.
0:05.2	They don't, you know, we don't look down, the math doesn't look down at your zip code and go,
0:08.6	oh, it's perfectly okay for you to have a house payment, this 70% of your, of your income,
0:14.2	and you're not going to go bankrupt.
0:15.5	Of course you're going to go bankrupt.
0:16.6	You're going to mess yourself up. You're going to, it's going to take a decade to recover from this peer pressure-induced purchase
0:22.7	that the math says no to.
0:25.5	And so you just have to have the wisdom and the maturity to walk within the math, within your guidelines,
0:33.3	and within your constraints, the constraints you've chosen into your life and that your faith has led you to.
0:40.8	We actually did it. Kosher Money interviewed Dave Ramsey at his impressive headquarters in Franklin, Tennessee,
0:47.2	and we asked America's most famous personal finance expert questions, frankly, he's never been asked before.
0:53.9	What do we mean by that?
0:55.2	Let's take a step back. Dave has been helping people pay off debt, achieve financial freedom for
1:00.8	over 25 years. And he's helped millions of Americans and people across the world achieve financial
1:06.9	freedom through his books, his courses, his very popular radio show.
1:10.9	He has a YouTube channel.
1:12.4	He's big time.
1:13.9	And the core of his strategy is a seven-step plan, right?
1:19.7	He calls them the baby steps.
1:21.2	What are they?
1:22.2	Let's walk through them.
1:23.2	We're going to even for those watching on YouTube present them in a screen for you to look at.
	...

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