Dave Ramsey’s Best Financial Advice for the Jewish Community

Dave Ramsey’s Best Financial Advice for the Jewish Community | Kosher Money Episode 39

Рет қаралды 224,394

Күн бұрын

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!
TIME STAMPS
00:00 Intro
03:12 Kosher Money at Ramsey HQ
03:30 The Big Orthodox Jewish Question
05:07 Biblical Principles of Money
08:30 Leniencies in the Baby Steps?
10:32 The Dangers of Credit Cards
12:08 Home Buying and Peer Pressure
15:58 Money Impacting Entire Life
20:37 Infinity Land Services
22:10 Raising Independent Kids
26:00 Allowance for Children?
27:38 Approved Funding
32:12 The Power of Charity/Tithing
34:55 Advice If You Fell Into Debt
39:44 Successfully Finding Work-Life Balance
42:34 Dave Ramsey's Advice on Inflation
45:47 Colel Chabad in Israel
47:40 Something More Important Than College
52:39 Entrepreneurship vs. Employment
54:26 How to Get Started with All Things Ramsey
57:19 Dave's Encouraging Message for You
1:01:44 Outro
If you have questions/feedback to share on this weeks episode, please email koshermoney@livinglchaim.com
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► MENTIONED LINKS
• Rabbi Lapin's 'Thou Shall Prosper' Book: amzn.to/3v4vLNu
• Ramsey's Real Estate Webinar: • Is the Housing Market ...
• The Ramsey Show: / @theramseyshow
• 'Baby Steps Millionaire' Book: amzn.to/3W2TQjv
• 'Total Money Makeover' Book: www.amzn.to/3G6fMVa
• Financial Peace University: bit.ly/3YubKgN
• Find More Financial Guidance at LivingSmarterJewish.org
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#Money #TheRamseyWay #FinancialFreedom #FinancialEducation #KosherMoney

Пікірлер: 175

@WilliamBati Жыл бұрын

These guys are very serious and committed to educating people in general, irrespective of religious affiliation. They incorporate their faith in a respectful manner and NOT pushy and they put out amazing episodes. I have seen many of them and continue learning with each new show. I liked it when Dave said that Math doesn't care about your zip code.

@kid4ever697 Жыл бұрын

Dave Ramsey coming to your show, just shows how much he must respect your choice of great guests so far.

@swissalpsphone8160 Жыл бұрын

Having Dave Ramsey on your show was a stroke of genius on your part.

@IsaacLHarrison Жыл бұрын

No way! Jewish and Christian community coming together to talk money and life. So good.

@rocomass6366 Жыл бұрын

My same thoughts EXACTLY this is INSANE!

@thegreat9481 Жыл бұрын

Uh money is the only language everyone understands….

@hendersongeorge3740 Жыл бұрын

😮

@Kitiwake Жыл бұрын

Money is the antithesis of Christianity.

@willylumpnj Жыл бұрын

@@Kitiwake That would be "the love of money".

@chriscugno5265 Жыл бұрын

This was honestly one of the best podcast episodes I’ve seen in a while. The interviewers had great questions and were very well spoken and I love how they tied everything into god and the bible.

@luckyCat118 Жыл бұрын

I love to see collaborations that brake stereotypes, bring positive contributions, teach and open mindsets :-)

@TheGayStoic Жыл бұрын

If you got Dave Ramey on, you guys made it big time. It doesn't get any better than Dave Ramsey when it comes to true financial transformation. Well done you guys!

@sethslifer9857 Жыл бұрын

DR plan has worked in my life. 2-3 year out of debt, 7 years paid off house and in 11.2 years we hit $1M net worth. Buying real estate and adding money to retirement accounts.

@williamjoshua6315 Жыл бұрын

I'm very happy for you dear 😊😊and you're creating a great reputation for this channel and everyone,I will love to achieve this great goal you're enjoying now.

@Irene1208Lano Жыл бұрын

This was awesome! Our Jewish brothers and our Christian brother talking about money!

@donaldcornwell1151 Жыл бұрын

Ok, I subscribed. Im not orthodox, I'm not even jewish. But........ wisdom is wisdom.

@mr.hotdogseniorrescue6823 10 ай бұрын

Wow, l’ve listened to Dave Ramsey for years & l LOVE this interview gentlemen. I’m a Christian & l’ve learned so much wisdom from Jewish people who l have love for & Israel. Also, l LOVE LOVE LOVE what what Dave said, “when you’re in a hard time you think you’re there FOREVER”. I’ve been there. My home is paid off, car…etc Dave’s steps work l didn’t make more then 25k-45k. Sorry so much information here. Thank you gentlemen for this interview. Lots of GREAT QUESTIONS & l just subscribed! ❤️💕💓🙏🏽

@jimbliff1376 Жыл бұрын

NO WAY!!!!! THIS IS AMAZING!!!! Whoever made this happen is a legend

@LawNOrderHumanRightsUnit Жыл бұрын

“G-d is a whole lot more patient than we are.” Very true!

@Life_42 Жыл бұрын

I love Kosher Money! I enjoy learning more about the financial world.

@Mrtkm Жыл бұрын

Wow no way you guys got to interview Dave Ramsey already 🎉 Good Job 🫡 Dave is the 🐐

@louisedost8476 11 ай бұрын

Thank You he kept me solvent and out of debt when Covid came! Amen thank you Financial peace university‼️😘😍🥰😁😁😁😁😁😁😁😁

@desmondpaul1326 Жыл бұрын

Nuggets of wisdom from Dave Ramsey taken from proverbs everybody needs wisdom from the Creator who knows the beginning from the end.

@Dre2Dee2 Жыл бұрын

Jew and Gentile in financial harmony, beautiful

@grantstacy1084 Жыл бұрын

The old has fallen away

@agibichler856 Жыл бұрын

Awesome. I couldn't wait for this. I'm too a Ramsey fan since 2018. Great job! I would've loved to hear his advice on how to save/invest for paying for our children's weddings and bar mitzvahs and such because in our circles most parents pay for those.

@angusseletto1511 11 ай бұрын

The Analogy of life being a snapshot or Film or your future is so so true.Do Not let a Huge Problem,Bad Descision or Mistake define the rest of your life.....*ie: im like this because X happened.Its just a moment in time that is soon history. I just need a few thoughts to make them Life Rules. You Guys are a wonderful service to people All over the world. Im Australian 54 with a 6 year old Daughter and it fits me like a Glove. THANKYOU FROM THE BOTTOM OF MY HEART.

@dzee3305 Жыл бұрын

👏👏👏 huge claps to you guys. Great episode. Mind blown when I saw the thumbnail for this video. Stopped everything and watched it start to finish.

@WannaBeHocker Жыл бұрын

6:16 Ramsey starts quoting Koheles and I can immediately hear Zevy's voice booming throughout Shaarei Zion on Shabbos Chol Hamoed Sukkos ־חֵ֥לֶק לְשִׁבְעָ֖ה וְגַ֣ם לִשְׁמוֹנָ֑ה כִּ֚י לֹ֣א תֵדַ֔ע מַה־יִּֽהְיֶ֥ה רָעָ֖ה עַל־הָאָֽרֶץ:

@keithcasey866 Жыл бұрын

Love kosher money and all the rabi and enjoy listening to Dave Ramsey! Great video

@everyonehasincommon1216 Жыл бұрын

I can't believe you got Dave Ramsey!!! So exciting! Great episode

@wisdomasculture3173 Жыл бұрын

Wow Christians and Jews coming together, it's a beautiful thing to see

@mmp495 Жыл бұрын

Please let's have more of these! What a great collaboration and wisdom from financial gurus. 🙏🙏🙏

@Brsrafal 7 ай бұрын

I don't think kosher community needs Dave Ramsey advice but glad to see 2 superpowers of saving investing $ decision making getting together.

@nwabuezeakachukwu1518 Жыл бұрын

Thank You for the content you put out!! From your channel I met Naftali Horowitz and My Life really changed after reading his book. You guys are amazing!

@yosefsheinfil4320 Жыл бұрын

I like how Dave compared credit cards to playing to snakes, since Chazal say how interest is like the bite of a snake.

@irenejones7485 Жыл бұрын

I listen to Dave all the time but I must say you had Excellent questions and drew out useful info and insights. Thank you!

@bobmonroe8841 Жыл бұрын

Those 2 gentlemen are very well spoken ! Dave is the 🐐

@zuzilezungu5899 Жыл бұрын

Shuuu! Being in the story cut really deep in my current situation! Thanks for reigniting HOPE!

@samp5802 Жыл бұрын

Congrats on landing such a interview!!! few crucial things i feel were left out was kollel/chinuch lifestyle, additionally, should've mentioned 6-10+ kids is fairly common among us and should be part of the equation. Lastly, while Dave is mostly replying with financial principals, he should be shown a mock Orthodox Budget (2k+ tuition, 3k+ rent/mortgage, 2k+ kosher food etc etc) and that might need more specific advice. THANKS FOR THE BEST KOSHER MONEY PODCAST EVER!!!!!!!!!!

@zookeeper510 Жыл бұрын

Not a popular opinion amongst the frum world but perhaps the time has come to restructure the kollel system and to significantly minimize the number of those in it. Moreover, financial education and personal finance ought to be part of a Yeshiva/Bais Yaacov curriculum.

@devblumberg Жыл бұрын

Showing a sample budget would have been very helpful.

@alecstahl2387 8 күн бұрын

As an atheist, I love to see how humanity goes beyond beliefs and puts people together.

@rudyflores7396 Жыл бұрын

Dave Ramsey the best!! 👍

@mr.hotdogseniorrescue6823 10 ай бұрын

We need each other. Jews & Christians. ❤️💕💓

@yael_wise_realtor Жыл бұрын

Omg!!! This is so exciting I can’t wait to watch!!!

@trevshearer Жыл бұрын

Well done!! I have truly enjoyed your podcasts!!

@HugoFlores-nb9wv Жыл бұрын

Thank you so much..May God bless you

@timmanikam4334 Жыл бұрын

Hi.Dave is a great sage on finance and his inspirational foundation of the Bible is Rock-strong. Thanks

@faqu529 Жыл бұрын

WOW JUST WOW! THANK YOU FOR THIS UPLOAD!

@I_Lemaire Жыл бұрын

I am Christian and love Dave Ramsey but it would have more impressive to quote those verses in Hebrew as I am sure his guests could have done. Nonetheless, Dave Ramsey is a legend and a true Man of God.

@mthokozisimyende787 Жыл бұрын

always great viewing things from a different perspective

@zuzilezungu5899 Жыл бұрын

Sila, Mthokozisi

@Dimantledpenguin99 5 күн бұрын

Top tier gems being dropped on this episode

@anabelberistain7280 Жыл бұрын

Best video ever!🎉❤❤🎉 love both communities

@sofii515 Жыл бұрын

Thank you very much for this type of great work . This content has no price .

@davidicaza1178 Жыл бұрын

Thank you, amazing video

@regnalnevets Жыл бұрын

Thanks!

@PowerfulMoneyHabits Жыл бұрын

Wow! Great questions! Money wisdom follows priorities! And priorities are your choice! Dave helped me become debt free last year!

@tom5141 Жыл бұрын

Amazing interview thanks. I’ve been consuming lots of Dave’s content on KZfaq lately

@ModernMoneyHabits Жыл бұрын

Thank You for this.👍

@jessieayala2970 Жыл бұрын

Thank you for sharing

@pizza4fresers Жыл бұрын

Fantastic interview

@ayala7282 Жыл бұрын

You guys rock!

@zinatalmasov4818 Жыл бұрын

FINALLY! thank you so much

@jackfriedman3676 Жыл бұрын

Great show. Suggestions: Living in a more affordable frum community, revise what a person calls necessity vs extras. Etc

@chadbailey7038 10 ай бұрын

Amazing. Thanks for sharing. Very valuable interview 🙌🏾

@danisa5260 Жыл бұрын

Loved this episode!!!

@akivagreenblatt Жыл бұрын

Thanks

@KaylaLevinHowtoGlowPodcast Жыл бұрын

Just saw this I am SO EXCITED!!!

@Cayococolandscaping 2 ай бұрын

This was a great interview, love Dave Ramsey!

@jeffgovender6087 Жыл бұрын

Excellent discussion Thank you!

@MCdacheong 10 ай бұрын

Had to stop mid-wayish - Dave was beating around the bush

@angusseletto1511 11 ай бұрын

Panning for Gold and Finding it.Going through Dave's messages,all are good....BUT there's the Few Absolute GOLD Messages that apply to the individual watching. Better to watch more to be sure to find the Applicable Gold to your position. It's a matter of just wait ,It's coming. BEAUTIFUL GUYS

@leahmiri9113 Жыл бұрын

What about podcast #7977. The call starts at 4:38 with him trying to say Chaya and ends with him hanging up because he just can't comprehend her housing, tuition, and grocery costs.

@reginaphalange9316 Жыл бұрын

Where can I find that? Sounds interesting.

@ivearies4187 Жыл бұрын

Great synergy!

@144Donn Жыл бұрын

One sorely missed financial aspect seldom spoken about is investing in our health! Even if you wind up with a lot of money, old age homes, hospitals and the "health" system will take it all. I would be more than happy to speak about healthy living!

@Dj__Sol Жыл бұрын

Unreal episode🔥🔥 Thank you!!

@angleazero1275 Жыл бұрын

Great interview. Thanks!

@LivingLchaim Жыл бұрын

Glad you enjoyed it!

@johncarter1089 Жыл бұрын

Great interview ..

@Noway673 9 ай бұрын

This my first time listening to Dave Ramsey and he has a lot of wisdom,but in some case as he speaks his voice sounds like Warren Buffett.Good program.

@reginaphalange9316 Жыл бұрын

Wow incredible! This is the first I’ve ever heard of him. Will definitely check out more of this. Great stuff.

@blueskyloo Жыл бұрын

Ken Adams here..Oh U Must!!

@skqq3250 Жыл бұрын

Regina where have you been. Dave has been at it for 30 years. Glad you are now on board.🥰🥰

@reginaphalange9316 Жыл бұрын

@@blueskyloo 🤝 😉

@josephisaacs4172 Жыл бұрын

What a great segment!!

@lindawilkinson9152 Жыл бұрын

Love you guys! Golden advice!

@TheJewishtraveler Жыл бұрын

Wow!!

@WannaBeHocker Жыл бұрын

Great interview! I would like to know what kind of background conversations there were leading up to this interview. How well was Dave actually briefed on the ways of life of the frum community? I feel that the "Kollel\Chinuch" Couple or Family is a significant enough element of the frum community, and there should have been some discussion about them but wasn't. Additionally, it would have been nice for Zevy or Eli to describe the tremendous amount of chessed (kindness\giving) within the frum community and how it affects lower income families.

@fred66665 Жыл бұрын

It's unlikely he was briefed a whole lot. He volunteered an hour of his time to sit and talk with these guys, He put forward his usual advice which has helped me a great deal, his opinions apply to homeschooling Jews and Christians alike and similar to those who send their children to religious schools of both faiths. Some Churches have a home-school/Christian school Christian ethos that would be very similar to the peer pressure of a Shul where everyone goes to the Yeshiva for their education. His argument is that there a material sacrifices that need to be assessed before buying property or cars. He may not comprehend the amount of children and the transportation costs needed for a vehicle that will pass inspection for school runs alone. He doesn't consider chessed that might subsidize someones righteous life as it isn't normal in Christian circles for poorer families due to studying the bible to get financial kindness from those around on a regular basis. Overall I think he did a good job of being sensitive to the Hebrew roots of Christianity and to not particularly evangelize the two guys.

@bh1935 Жыл бұрын

I don’t really know either show but this is cool

@yehudam8220 Жыл бұрын

This is amazing

@Dancing_Alone_wRentals Жыл бұрын

I missed a couple episodes and I come back to find you are over 100K! Congratulations. ...okay...I'll sit back down and stay quiet and watch the movie.

@Life_42 Жыл бұрын

Hit the Bell for notifications on KZfaq!

@ekoller Жыл бұрын

I love how Dave didn’t buy in at all to our “uniquely orthodox Jewish problems”. He just called it an american problem of a community that lives beyond its means. What else were we expecting? Permission to go into debt? That’s what the Yeshivas and caterers will tell you to do, not Dave Ramsey!

@josephisaacs4172 Жыл бұрын

That is the one thing that my Dad taught me is to never get in Credit Card Debt and pay all cards each month. I was once reckless with that but now I pay them off every month.

@skqq3250 Жыл бұрын

My college friend introduced me to credit cards. I got 2, she had 18. She was in big debt in school but I only bought books and concert tickets with mine. My family members never said we should “ get credit cards”. Buyer beware.

@luzfelipe2964 Жыл бұрын

Wisdom is Wisdom, I'm not religious but l like this principles . It makes sense. If you cannot finance for 15 years, do 30 but pay extra to the principal.every opportunity. Every extra dime go to the principal

@terrencebreary1421 10 ай бұрын

Good episode

@LivingLchaim 10 ай бұрын

Good comment

@MattyLiam333 4 ай бұрын

People say Dave's way of living with money is impossible. Listen to the passion in his voice. Look at him. It's all attitude. If you don't have that attitude going in and believe in your God to push you through the bullshit, you can hang it up. You're right, you, and just you could never do something so brave. Instead of turning your back on the devil completely you want to mess with it and play with it as if it won't screw you in the end. Bravery is always smarter and more secure. But sure go ahead and build your house on the sand. Good luck. Change your attitude and at the very least if you don't have faith in God, have faith in your self, for the love of God. Money and spirituality go hand in hand. Even atheists experience this, but they deny it and that is okay.

@HugoFlores-nb9wv Жыл бұрын

Greetings from Guadalajara Jalisco México

@tigerrx7 Жыл бұрын

Seeing the comments about Jews and Christians coming together. Why were Jews and Christians enemies? I never get why today’s human beings must hold to traditions that either made no sense or weren’t questioned. God loves all.

@GoofyGentile Жыл бұрын

Hi. I wish there would have been some mention that an Orthodox Jewish person in Queens can move the family to a more affordable, up and coming city: For example - check out the Jewish Orthodox worlds in South Bend, Indiana - Cleveland, Ohio - Kansas City, MO - Detroit, Michigan - Springfield, NJ, and yes - Dallas, TX!!!

@LivingLchaim Жыл бұрын

This is an excellent point and one I regret not sharing on the pod. Thank you! - Eli

@rivkagoldstein1149 Жыл бұрын

It was mentioned sort of when he talked about math and zip codes

@fabiolaarias7645 Жыл бұрын

Hillside/Elizabeth in NJ are significantly cheaper in real estate than other communities in the New York City area. Hillside and Elizabeth are fortunate to have Bruriah High school (for girls) and The Jewish Educational Center (JEC) right in the neighborhood.

@Lanark83 Жыл бұрын

Lovely.

@thetedmang Жыл бұрын

Outstanding interview; thumbs up if you want to see Ben Mallah on the show!

@Doubleuesq Жыл бұрын

Wow can't believe this happened. Also knew Dave would be totally against the way the frum community lives.

@grantstacy1084 Жыл бұрын

Totally against is pretty rough. He wasn't saying convert to his type of Christianity. I think I get what you are saying in the financial context though

@skqq3250 Жыл бұрын

Glad to see Dave on this show. But, what did folks do before credit cards were opened to the masses? They lived within their means. Let’s also wake up and plan our families. Okay we don’t need families of 6+ folks. No one is happy with “smaller families”. Therefore, financial planning will be more difficult. Period.

@SamWeinstein Жыл бұрын

Wow!

@steveneumann32 Жыл бұрын

Insanity. Congrats!

@moshelevinson8627 Жыл бұрын

being a jew is very expensive

@blueskyloo Жыл бұрын

Just a thought on compounding/addition of ur mowney as compared to subtraction/division of it. 100+100= 200 (100%) 100*100= 10000 (10k%) 100-100= 0 100/100= 1

@deodarhill Жыл бұрын

Take a shot every time Dave ramsay says biblical.

@gb.510 Жыл бұрын

🪦⚰️

@mbutler2905 Жыл бұрын

I’m surprised Dave hasn’t learned to recommend people to live out of town 🤪

@saraklein1874 Жыл бұрын

Disappointed in Dave Not answering them when they said how expensive it is to live in Queens and you have to make 200K to 300K a year to make it, 1st of all who said you have to live in Queens? and no you do not need 200K to 300K a year only if you live a very expensive lifestyle witch they do... there is much waste to be cut.