Dave Ramsey is a well-known author and radio personality who covers a variety of finance-related topics. Offering financial advice and guidance to individuals of different ages and lifestyles, he’s become a pillar of the finance community.
On his podcast, The Ramsey Show, Ramsey shares ways to prioritize and cultivate wealth in a sustainable way. Ramsey shares many quotes for 20-somethings and above. Ramsey actually mentioned that your 40s can be the most financially challenging time of your life.
If you’re in your 40s, you might be looking for some tailored financial guidance to get you through this challenging decade. Here are 11 Dave Ramsey quotes every 40-year-old needs to hear.
1. “Someone who never has fun with money misses the point. Someone who never invests money will never have any. Someone who never gives is a monkey with his hand in a bottle.”
- Source: Dave Ramsey, The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness
Takeaway: Don’t Be Afraid of Money
While it’s important to save money and spend with intention, you can still have fun with your money. Don’t let your entire life pass you by without taking advantage of your financial security or abundance. Have fun with your money, experiment with investing, donate to charities, etc. Trust your money will always return to you — and tenfold.
2. “If you help enough people, you don’t have to worry about money.”
- Source: Dave Ramsey
Takeaway: By Helping Others, You Help Yourself
You can never go wrong by lending a helping hand. In your 40s, you likely feel more established and confident in your career. This is a great time to help those who are just starting out to find their grounding. Ramsey believes that the more you help people, the more money you will attract.
3. “Parents who let teens run around with unearned adult freedoms are naive and stupid.”
- Source: Dave Ramsey, EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches
Takeaway: Teens Should Learn to Work for Their Money
If you’re raising a teenager, like many people in their 40s, Ramsey advises you to instill a positive work ethic into your kid. Rather than blindly allowing your child adult freedom, consider ways you can teach them the value of hard work and discipline. Help them earn their luxuries by encouraging them to find a part-time job or even help out around the house.
4. “A budget is telling your money where to go instead of wondering where it went.”
- Source: Dave Ramsey
Takeaway: Budgeting Is a Good Practice at Any Age
A budget will always be a good idea — especially in your 40s when you likely have more hefty bills and larger purchases. Budgeting will allow you to track where, exactly, your money is going. This awareness will help you save in the long run while still allowing room for fun.
5. “[A] typical millionaire lives in a middle-class home, drives a two-year-old or older paid-for car, and buys blue jeans at Wal-Mart.”
- Source: Dave Ramsey, The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness
Takeaway: A Truly Successful Person Spends Wisely
Those who are in a good financial position usually don’t feel the need to flaunt it. Oftentimes, this is what allows them to be so successful, as they don’t overspend on unnecessary purchases. Instead, they’re smart and intentional with their money. This is an especially important mindset to consider when you’re in your 40s and becoming more established in life.
6. “You must gain control over your money or the lack of it will forever control you.”
- Source: Dave Ramsey
Takeaway: Don’t Treat Financial Challenges With Avoidance
It’s tempting to ignore our debt or simply hope our financial woes will eventually improve without actually creating a plan to solve them. However, this will put you in a much more discouraging place with your money. If you want to take control of your money, you must be willing to face your financial challenges head-on. It might seem daunting, but it’s better to address your situation sooner than later.
While you’re still young in your 40s, you do want to consider putting yourself in a good financial situation for retirement someday. Additionally, you might be starting a family or making more major life purchases at this time, which will require you to consider your relationship with money — and whether or not it’s healthy.
7. “You must walk to the beat of a different drummer. The same beat that the wealthy hear. If the beat sounds normal, evacuate the dance floor immediately! The goal is to not be normal, because as my radio listeners know, normal is broke.”
- Source: Dave Ramsey, The Total Money Makeover: A Proven Plan for Financial Fitness
Takeaway: Forge Your Own Path
Think of a person who has the level of wealth you aspire to have — how do they live their life? Odds are, they walk their own path and don’t worry about what others are doing. If you want to truly hone your power and reach a place of financial abundance, you must be willing to take risks others won’t take. Don’t be afraid to be the “odd one out.” This is usually a positive thing.
8. “Winning at money is 80 percent behavior and 20 percent head knowledge. What to do isn’t the problem; doing it is. Most of us know what to do, but we just don’t do it.”
- Source: Dave Ramsey, The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness
Takeaway: Learn Discipline
Discipline is perhaps the only true way to get where you want to be — in life and in your career. If you want to call in financial abundance and security, you have to master discipline by doing what you know is right. As Ramsey said, most of us have the proper knowledge to understand the best course of action. What we often lack is the strength, courage, or discipline to follow through on it.
9. “Children are sponges—they are going to absorb whatever is around them, so we need to be intentional about what surrounds them.”
- Source: Dave Ramsey, Smart Money Smart Kids: Raising the Next Generation to Win with Money
Takeaway: Raise Your Kids Around the Right Influences
If you already have or are starting to plan a family, ensure your children are surrounded by the right people. As Ramsey points out, kids tend to absorb the words and actions of those around them.
That being said, you can’t micromanage your children or control everyone they come into contact with throughout life. What you can do is plant the right seeds in their minds and allow them to express curiosity or openly ask questions to teach them the right way.
10. “Money is not good or evil. It has no morals or intentions on its own. Money reflects the character of the user.”
- Source: Dave Ramsey
Takeaway: Money’s Value and Impact Depend on Its Owner
Depending on the person using the money, money can either be used as a weapon or a tool. View it as the latter. Without the right discipline and intentions behind your spending, you could do more damage than good with your finances. Don’t let any amount of money go to your head — even when you’ve reached the point of financial abundance you’ve been seeking, as many do in their 40s.
11. “Without a mission statement, you may get to the top of the ladder and then realize it was leaning against the wrong building!”
- Source: Dave Ramsey
Takeaway: Develop a Compelling Mission Statement
If you’re looking to start a new business — which many individuals choose to do in their 40s — you’ll want to prioritize your mission statement. Without a clearly defined and impactful mission, your business will not have a solid foundation to stand on. Not only that, but you might lose your purpose along the way, which can sabotage your entire venture.
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