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Modern Wisdom

#932 - Dave Ramsey - Why Smart People Make Stupid Money Decisions

24 Apr 2025

Description

Dave Ramsey is a personal finance expert, podcaster, and an author. The rules of money aren’t complicated. Make more than you spend, live below your means. So why is it still so hard to get right? What are the real keys to building wealth, and how do we stop sabotaging ourselves along the way? Expect to learn why you need to become ruthless to become successful, why Gen Z & Millennials face a uniquely different financial landscape than Boomers or Gen X did, the biggest psychological errors people make when it comes to thinking about wealth and business building, how to build a business you love, Why it’s so hard for people to change their financial behavior even when they know what to do, if Is the cost of living crisis a spending crisis or an earning crisis, and much more… Sponsors: See discounts for all the products I use and recommend: https://chriswillx.com/deals Get up to $50 off the RP Hypertrophy App at https://rpstrength.com/modernwisdom (use code MODERNWISDOM) Get 5 Free Travel Packs, Free Liquid Vitamin D, and more from AG1 at https://ag1.info/modernwisdom Get the Whoop 4.0 for free and get your first month for free at https://join.whoop.com/modernwisdom Extra Stuff: Get my free reading list of 100 books to read before you die: https://chriswillx.com/books Try my productivity energy drink Neutonic: https://neutonic.com/modernwisdom Episodes You Might Enjoy: #577 - David Goggins - This Is How To Master Your Life: https://tinyurl.com/43hv6y59 #712 - Dr Jordan Peterson - How To Destroy Your Negative Beliefs: https://tinyurl.com/2rtz7avf #700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: https://tinyurl.com/3ccn5vkp - Get In Touch: Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/modernwisdompodcast Email: https://chriswillx.com/contact - Learn more about your ad choices. Visit megaphone.fm/adchoices

Audio
Transcription

Full Episode

0.229 - 5.839 Dr. John Deloney

Let's talk about both of our favorite topics, Dr. John Deloney. And it's his favorite topic. It is.

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11.725 - 20.068 Dave Ramsey

Oh, man. What a star, though. I mean, he is blown up. He's brilliant. He's quick. And he's helping a lot of people. We're real proud of him.

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21.008 - 48.974 Dr. John Deloney

I have no idea how I wasn't familiar with him until relatively recently. I guess the internet's a big place, right? But he's great. He came out to see me here in Austin. We immediately had that, did we just become best friends moment. And yeah, he's phenomenal. His insights are great. He seems to have... I'm going to put this. He's got kind of a Ramsey signature to him in a way.

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50.094 - 69.24 Dr. John Deloney

Quite firm, I would say. Sometimes bordering on scary. Moderately intimidating, but also sort of warm and sort of feels like he's doing it. Like a particularly brash uncle that needs to give you the sort of kick in the ass that you needed.

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69.764 - 88.594 Dave Ramsey

Yeah, that loves you, but will tell you the truth. And that's what we all try to do around Ramsey and portray both of those things. A, we love you, and B, that means we have to tell you the truth for your own good because we care about you and we want you to win. And continuing to do that horrible thing to yourself is silly.

88.674 - 107.607 Dave Ramsey

And so whatever it is, whether it's John or any of the rest of us, but John certainly has fallen into that fold, and he is brilliant. He's very articulate. I mean, I'm in the third meeting with him in our – Uh, we're, we're talking about, you know, interviewing and talking about, uh, turning him into a Ramsey personality. And he's so quick on the draw. I went, you can do this.

107.667 - 122.059 Dave Ramsey

All we gotta do is put you on with a microphone and start answering questions. He didn't know what it was. And I'm like, look, I've done talk radio for 30 years. You, you draw fire and reholster before the bullet hits him. I mean, it's quick. And so, uh, he, he's really, really good and he does care deeply.

124.326 - 141.756 Dr. John Deloney

How do you describe what you do? Let's say that someone meets you and they're not familiar with you. You're at a cocktail party or you're at a gathering of some kind. David, tell me about what you do for work. How do you coalesce the myriad of different things that you've got going on?

142.782 - 159.873 Dave Ramsey

You know, these days I would just tell them, you know, I'm the CEO of Ramsey Solutions, and we put on a bunch of podcasts and a bunch of curriculum and have a bunch of bestselling books and, you know, YouTube and all that stuff. And I'm one of the people that does all that as well as be the CEO. So it's kind of like that.

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