We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Chapter One – Dave Ramsey Summary

The whole doc is available only for registered users
  • Pages: 2
  • Word count: 299
  • Category: Money

A limited time offer! Get a custom sample essay written according to your requirements urgent 3h delivery guaranteed

Order Now

In chapter one, Dave Ramsey covers a lot of material. Mainly highlighting good saving habits and what to do with your money. By introducing the baby steps, Ramsey allows his viewers to set a plan for their money. Step one, putting 500- 1,000 dollars in an emergency fund (depending on their outcome). Step two, pay off all debt. Step three, three to six months expenses in savings. Step 4, invest 15% of household income to IRA and pre-tax retirement. Step 5, college funding. Step 6; pay off your home early. The final chapter 7, builds wealth and give.

Other than the baby steps, several tips on saving money were introduced. Terms that Ramsey mentioned were amoral, compound interest, emergency funds, interest rates, money market, Murphy’s Law and many more. Amoral is when money is neither good nor bad. Compound interest is interest on interest. An emergency fund is 500-1,000 dollars put into a money market or savings account. Murphy’s Law is that if it can go wrong, it will. Ben and Arthur illustrate compound interest. One main thing I learned was that saving is about contentment and emotion.

I also learned that the saving habits of Ben and Arthur help to illustrate the principle of compound interest. Your income level does not affect your saving habits. Another fact is that the correct order for using your money is save, pay bills and then gives. I also learned how to calculate compound interest along with the difference in compound and simple interest. Lastly, I learned that the United States has a negative savings rate. This is because Americans spend their money on unneeded things. Certain fashion labels and popular, trendy items become a necessity. But I learned to save and spend money on more important things.

Related Topics

We can write a custom essay

According to Your Specific Requirements

Order an essay
Materials Daily
100,000+ Subjects
2000+ Topics
Free Plagiarism
All Materials
are Cataloged Well

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email.

By clicking "SEND", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
Sorry, but only registered users have full access

How about getting this access

Your Answer Is Very Helpful For Us
Thank You A Lot!


Emma Taylor


Hi there!
Would you like to get such a paper?
How about getting a customized one?

Can't find What you were Looking for?

Get access to our huge, continuously updated knowledge base

The next update will be in:
14 : 59 : 59