Ah, Dave Ramsey. The man, the myth, the financial guru whose voice rings out with phrases like “Live like no one else, so later you can live like no one else.” He’s inspired millions to ditch debt, say goodbye to credit cards, and stick to that elusive thing called a budget. But let’s be honest, Dave’s advice can sometimes feel like trading in your Spotify Premium for AM radio. Can you actually save like Dave Ramsey? Let’s break it down, young adult style, with some tech-savvy twists.
1. Baby Step 1: Build a $1,000 Emergency Fund
Dave’s all about getting you to save up a cool grand for emergencies. Sounds simple, right? Until you realize that avocado toast habit adds up. Here’s the deal: you don’t need to give up everything fun. Just prioritize.
Tech to Try: Use apps like Acorns or Qapital to automate your savings. Set up a “Round-Up” feature so every time you buy a $4.25 coffee, it rounds up to $5 and stashes the extra $0.75. Boom, your emergency fund is quietly growing while you sip that latte.
Satirical Tip: Avoid creating emergencies just to spend it. Yes, a “10%-off-sale” at Best Buy is not an actual emergency, no matter how bad you want that 75-inch TV.
2. Baby Step 2: The Debt Snowball
Ah, the snowball method: list your debts smallest to largest, pay the minimums on everything but the tiniest debt, and throw all your extra cash at that one. Dave promises this works because “debt-free” feels so good you’ll never want to stop. Kind of like finishing a Netflix series in one sitting.
Tech to Try: Use tools like Undebt.it or You Need A Budget (YNAB) to track your progress. Visualizing those little debts vanishing one by one can be oddly satisfying, like popping bubble wrap.
Satirical Tip: Don’t go snowballing so hard you forget to live. Cutting Netflix entirely might make sense to Dave, but you’re trying to save money, not sanity.
3. Baby Step 3: 3-6 Months of Expenses in Savings
Let’s face it, saving enough for 3-6 months of expenses sounds about as fun as spending your Friday night reading the fine print on your student loans. But if 2020 taught us anything, it’s that the world loves a good plot twist, and an emergency fund can save your bacon.
Tech to Try: Platforms like Digit analyze your spending habits and squirrel away money you won’t miss. Or go old school and open a high-yield savings account with Ally Bank or Marcus by Goldman Sachs to earn a little interest.
Satirical Tip: Don’t overthink the expenses. Yes, your emergency fund should cover rent, utilities, and food, but no, it does not need to cover “self-care” shopping sprees at Sephora.
4. The “Cash-Only” System
Dave’s biggest “no-no” is credit cards. According to him, those little plastic rectangles are gateways to debt-filled doom. He’s all about cash envelopes, where you physically divide your money into envelopes for categories like groceries, gas, and “fun.”
Tech to Try: Replace paper envelopes with digital versions like Goodbudget or EveryDollar (Ramsey’s app, naturally). These apps let you allocate your funds into categories, minus the risk of accidentally leaving your grocery envelope at home.
Satirical Tip: Good luck explaining to your friends why you’re paying for dinner in crumpled fives. Bonus points if you label the envelope “Tacos.”
5. Cut the “Lifestyle Creep”
You know the drill: you get a raise, and suddenly your Target runs include a $20 candle. Dave’s advice? Stop upgrading your life every time you upgrade your paycheck.
Tech to Try: Use Mint to track your spending and set reminders for when you’re getting close to blowing your budget. Or try Personal Capital to see how much you could be saving if you stopped buying artisanal dog treats for a dog you don’t own.
Satirical Tip: You don’t need 27 matching throw pillows to feel like an adult. One or two is fine. Your couch doesn’t even have feelings.
6. Be Weird (Like, in a Good Way)
Dave loves to say that saving money makes you “weird” because normal people are broke. But in today’s world, being weird could mean embracing tech for budgeting, shopping smart, or even investing.
Tech to Try: Consider platforms like Robinhood or Stash for dipping your toes into investing. Or use browser extensions like Honey and Rakuten to snag deals when you shop online.
Satirical Tip: Being weird doesn’t mean canceling all your subscriptions. It’s okay to keep Spotify. Just maybe downgrade to a cheaper Hulu plan with ads.
Final Thoughts
Saving like Dave Ramsey isn’t about punishing yourself. It’s about having a plan and sticking to it, with a little room for fun. By blending Ramsey’s principles with modern tech, you can achieve that debt-free, savings-savvy lifestyle without feeling like you’re living in the 90s.
So, can you save like Dave Ramsey? Absolutely. Just don’t forget to reward yourself along the way. Maybe not with a yacht, but hey, a budget-friendly road trip isn’t off the table. Now go forth and save, young grasshopper. Dave would be proud (well, maybe).
