Profile: Dave Ramsey Net Worth and Biography

Profile Dave Ramsey Net Worth and Biography

Dave Ramsey Net Worth and Biography. Dave Ramsey has a net worth of over $100 million USD and has made this largely from his successful personal finance talk show.

We are only interested in Dave because of his advice on how to get out of debt and stay out of it.

We agree with most of his easy to digest directions on getting out of debt.


Dave Ramsey


Antioch, Tennessee.

Parents occupation

Dad was builder

Mother was realtor

High School



College of Business Administration at University of Tennessee, Knoxville.

Early signs of business talent

Got his Realtors licence at eighteen years of age.

Sold real estate while attending university.

Created a large property portfolio by his mid twenties. Net worth of nearly one million dollars.

He had an income of $250,000 per year but had debts of $4 million in real estate


In 1986, due to the banking act of 1986 his banks changed ownership and foreclosed on his mortgages and he owed money to the IRS.

He chose to declare bankruptcy.

After bankruptcy

Ramsey continued in Real estate clearing debts.

He started offering financial advice and self-published his own book called ‘financial peace’.

The budding financial guru started a radio show talking about financial advice.

The Dave Ramsey radio show

The show runs daily for three hours and has an audience of over sixteen million.

The show was originally called The Money Game and a local call-in type format.

It is now nationally syndicated and has an audience of over sixteen million.

Ramsey Solutions new building

Ramsey Solutions new building just south of Tennessee city

What is his advice ?

He provides seven simple fool proof steps for getting out of debt

Dave Ramsey’s Seven baby Steps (we have paraphrased and moved them so it makes sense to us).

Step 1

Make a detailed, written budget describing your expected future income, expenses and savings.

He advises stop taking on any new debt at all to immediately stop the problem getting worse. Do not do anything apart from reducing your debt.

So immediately stop spending, live on rice and beans and reduce your costs and increase your income. He advises  ‘being weird” which means being proud of being the person that drives a bad car even though you earn a lot of money or not going out to nice restaurants or drinks with friends etc.

Step 2

Save one thousand dollars for your emergency fund

Step 3

Use that increased cashflow from (cutting expenditure) to attack your debts.

You list your debts from smallest to largest.

You then concentrate on paying off your smallest debts first and then onto your larger debts. This is the debt snowball method

  • Overdrafts
  • Credit cards
  • Personal loans
  • Car loans
  • Holiday loans
  • Medical bills
  • Mortgages

Step 3

Save three to six months of expenses for your fully funded emergency fund.

Remember that cash in the bank is king so keep building up your cash reserves.

Step 4

Invest 15% of your income for retirement

Step 5

Save for your children’s college fund.

Step 6

Pay off your home early – one of the main aims of his advice is to get your home mortgage paid off early.

Step 7

Build your wealth, invest and give.

It is interesting to note that he does mention much about investing from this point using debt such as additional mortgages which can be very sensible as long as the cashflow is correct.

How does he make his money?

The Dave Ramsey show is now nationally syndicated so it makes money on advertisements.

He has wrote six best selling books so these provide a steady income.

His business Ramsey Solutions was formed in ninety ninety two to help people reduce down their debts.

The business has over nine hundred employees and a large headquarters just outside of Nashville.

Ramsey solutions make money charging for advice, products and tools.

They also sell:


The Total Money Makeover

The Total Money Makeover Workbook

Dave Ramsey’s Complete Guide to Money

Smart Money Smart Kids

The Legacy Journey

Other Dave Ramsey books

  • Know Yourself, Know Your Money
  • 2021 Goal Planner by Christy Wright
  • Living True by Christy Wright – 40 Days to Get Back to You
  • Everyday Millionaires by Chris Hogan
  • Debt-Free Degree by Anthony ONeal
  • Business Boutique – Hardcover Bool
  • New! Destroy Your Student Loan Debt
  • The Proximity Principle
  • The Contentment Journal
  • Retired Inspired
  • Love Your Life, Not Theirs
  • The Graduate Survival Guide

He also sells audiobooks and ebooks


  • The Total Money Makeover by Dave Ramsey
  • Destroy Your Student Loan Debt by Anthony ONeal
  • Smart Money Smart Kids by Dave Ramsey & Rachel Cruze
  • Retire Inspired by Chris Hogan


  • Business Boutique by Christy Wright
  • The Richest Man in Babylon by George Clason
  • Everyday Millionaires by Chris Hogan
  • EntreLeadership by Dave Ramsey

Courses and digital classes

They sell a huge amount of courses and digital classes


He hosts seminars and talks to several thousand people at a time.

Quotes by Dave Ramsey

On saving money

“give every dollar a job” The Guardian Newspaper

“eat beans and rice, rice and beans” The Guardian Newspaper

On paying off debt

“You know where wages are stagnant?”, “On people who are stagnant. You’ve only got stagnant wages if you decide to stay there and keep getting those wages. This is not Russia, you can quit.”“‘I don’t like how much Walmart pays.’ ‘I don’t like how much McDonald’s pays.’ So don’t work there, stupid. Go work for somebody else.” The Guardian Newspaper

“If you’re working on paying off debt, the only time you should see the inside of a restaurant is if you’re working there.”“You need to leave the cave, kill something and drag it home.”The Guardian Newspaper

On working as an employee

“‘I don’t like how my company treats me.’ So leave. Go be somebody.”The Guardian Newspaper

“If you come to work late and they are paying you, then you are stealing. Don’t steal and expect to get promoted.”The Guardian Newspaper

On the American dream

“people know that the American dream is not only alive, but it is available” The Guardian Newspaper

“And the myth is that you cannot build wealth, that you have to inherit it, and that all millionaires, all wealthy people, inherited their money. And we have found with detailed, in-depth research, as well as anecdotally, here on the air, that’s simply not true.” The Guardian Newspaper

“This idea that a President Obama or a President Trump can take credit for jobs being created is laughable,” The Guardian Newspaper

On being a capitalist

“I’m a capitalist pig. There is nothing socialist about me. I would put my receptionist on straight commission if I could figure out a way.”The Guardian Newspaper

Quotes about

“He didn’t lose his job, or have huge medical bills, or dig himself into credit card debt or gamble his money away. He was an overleveraged dealmaker, a hotshot who stretched himself too far and who got caught in a change of federal banking regulations.” The Nashville Scene

Personal life

Married with three kids


The lessons to learn from Dave Ramsey are quite basic but then again they are aimed at people seriously in debt.

We could all do with taking these steps:

  • Lower your expenditure
  • Increase your income
  • Save and eventually invest
  • Read everything you can on personal finance
  • Research wealthy people, copy their day to day personal habits, actions that work for you

We agree with him on personal finance except for his attitude to mortgages. Mortgages can be a great way of building your financial wealth. He obviously messed up his cashflows on those properties otherwise the banks would not have foreclosed on him. So just because it did not work out for him it doesn’t mean mortgage debt is bad.

Finally, it is interesting to note that he blames his bank for foreclosing on his loans. Banks do not foreclose on loans for no reason. He must have reached a point where he was unable to make his monthly payments.

Banks want their customers to profit because they will too. Yes banks make more money when you profit than when you make losses. If you mess your business up the bank seizes everything and accepts cents on the dollar for the debt. So don’t mess your business up in the first place


You do not have to buy anything from this guy.

His talk show is free and if you listen to enough episodes of his you will get his main message which is stop spending, work and earn more, pay down debt, invest and help in your community.

Buy the books, the audiobooks etc if you like but that is the message in all of these products. It is up to you to do the actual work.