Dave Ramsey is a money-management expert, national radio personality and best-selling author.
If you want to lose weight, and you have an addiction to Ben and Jerry’s Ice Cream, you’ll have to admit your ice cream problem, and recognize the fact that eating ice cream is not an ideal way to lose weight. The same is true with getting your money in order and reaching financial peace. You must identify the beliefs that hold you back.
Denial
My dad used to say that 90 percent of solving a problem is realizing there is one. One of the major factors that keep people from winning with money is not realizing they have a problem. If you are apathetic because everything — including huge credit card debt — seems fine, then you will be unwilling to make the changes needed to get huge results.
Fear of Change
Change is painful. Most people won’t change until the pain of their situation is worse than the pain of change. You are where you are right now financially as a sum total of the decisions you’ve made to this point. If you don’t like where you are, then acknowledge you have to change, and go after your dream!
Debt & Money Myths
Debt is so ingrained into our culture that most Americans can’t envision a car without a payment, a house without a mortgage, or a student without a loan. We’ve been sold debt with such repetition and such fervor that most folks cannot conceive what it would be like to have no payments. Don’t buy into the marketing and the “keeping up with the Joneses” mentality. You can reach financial peace, but it takes time and effort.
Ignorance
Ignorance doesn’t mean dumb. It means you have to learn. Admit that you’re not a financial expert, read about money (I’ve written several books), and go on a life-long quest to learn more about money. What you don’t know about money will make you broke and keep you broke!
Related: Dave Says: Know Your Investments
