Dave Ramsey is weird. He's proud to be
weird because "normal" is broke. According to Dave, "debt is dumb, cash
is king, and the paid off home mortgage has taken the place of the BMW
as the status symbol of choice."
As a result of going deeply into debt and ultimately filing for
bankruptcy years ago, he learned how destructive behaviors can keep
people from achieving their financial goals. He now devotes himself and
his company, The Lampo Group, to giving others the confidence to win
with money. Dave
spreads his message through his New
York Times best-selling books, a daily
radio show, Total Money Makeover
live events, and Financial Peace University, a small group program
where families learn together. He helps walk people through the "Baby
Steps" (borrowed from the movie What
About Bob?) to live within a budget, get out of debt, and take
control of their financial lives. He even
recommends local professionals "with the heart of a teacher" through his
Endorsed Local Provider program. They are all people who are experienced
in helping his listeners through many different life issues, including
marriage counselors, CPAs, realtors, insurance agents, and investment
advisors.
Dave was kind enough to take time out of his very hectic schedule to
answer some questions for XMFan.
XMFan: In preparing for this
interview, I was reading other interviews that you have given. I
happened to run across what may have been one of your first online
interviews, with Ann Devlin in 1997. In that interview, you mentioned
that your company had 25 employees at that time, you were just about to
pay off your mortgage, and you were just under a million dollars in net
worth. How does it make you feel to think about how far you've come in
just 9 years?
Dave: We've been very blessed.
It's amazing. Our team has grown to nearly 160 people; "The Dave Ramsey
Show" is on more than 260 radio stations with more than 2 million
listeners weekly; and more than 250,000 families have gone through
Financial Peace University. In our office we talk a lot about the
Momentum Theorem: Focused intensity over time multiplied by God equals
unstoppable momentum. We've worked hard for 15 years and now we're an
overnight success.
XMFan: You frequently say that
the way to learn how to be rich is to ask a rich person. You also cite
such motivational personalities as Zig Ziglar, Tom Hopkins, Stephen
Covey, Larry Burkett, and Thomas J. Stanley, not to mention the Bible.
But is there a particular person who stands out as an inspiration as you
came out of bankruptcy and as you crafted your debt-free message?
Dave: I read a lot of books and
talked to a lot of people but Larry Burkett was a definite influence.
XMFan: Did your religious
awakening come about after you found yourself in financial trouble, or
did your situation cause you to come to the realization that the Bible
held the answer to financial questions?
Dave: I met God on the way up but
really got to know him on the way down. After hitting bottom, I went on
a quest to find out how
money really works, how I could get control of it, and how I could have
confidence in handling it. I read everything I could get my hands on,
including the Bible. I discovered that there are more than 800
scriptures that talk about how to handle money God's way. This helped
change the way I look at money and my relationship with money.
XMFan: What made you decide to
devote your life (at least a good portion of it, so far) to teaching
others?
Dave: I have the heart of a
teacher. Talking to callers on my radio show and teaching people through
live events is why I get out of bed in the morning. I've done stupid
with zeros on the end. I want to help other people avoid the mistakes I
made.
XMFan: After you wrote your first
book, what made you decide to make radio such a major outlet for your
message? Were there any struggles at first, since you didn't have a
background in radio? What did you do to overcome them?
Dave: It really just happened. I
was a guest on a local radio show talking about real estate. The station
was amazed to see the phones light up. When that host left the station,
which was in bankruptcy at the time, I took over his time slot. We made
some mistakes along the way but we learned from them and kept going. The
most important thing has always been that we help people.
XMFan: For those of us who
haven't attended one of your Live Events, how do they differ from your
radio show? You mention that you run around the stage for five hours,
but what else do you do to motivate those who need that extra push to
take control of their financial life?
Dave: The radio show is random.
It's just life playing out on the radio. While the theme of our show is
consistent people's life circumstances vary and therefore the show is a
bit of a melting pot. There is a clear cut mission to the live event.
There is a clear beginning and end. Families leave the live event
knowing what they need to do in order to win with their money. As a
result of having a plan (often for the first time) we also see a lot of
stress removed from families and as a result relationships also begin to
heal. This money stuff is hard. Not having a plan with it puts so much
pressure on families and as a result really strains relationships. At
these events, we laugh, we cry and I think people realize that the
problems they're facing are pretty normal.
XMFan: Since we're an XM-related
discussion forum, music is one of our favorite topics here. You talk
frequently about enjoying Contemporary Christian music, but do you have
any other musical favorites?
Dave: Contemporary Christian is
what I listen to most often but I certainly work some Classic Rock into
the mix.
XMFan: Who picks out the bumper
music on your radio show?
Dave: I don't have good taste in
music so the longtime Senior Producer of "The Dave Ramsey Show," Blake
Thompson, is responsible for picking the "hip" bump music.
XMFan: Every day, you go through
all of the ways your listeners can catch your show-internet streaming,
podcasts, AM/FM, as well as satellite radio. What were your expectations
when you first agreed to air your show on XM and Sirius? Have there been
any surprises? How does owning and distributing your own show affect
your relationship with affiliates?
Dave: Our company wants to help
people. We want to get this message out anyway possible.
So we want to make sure it's available through multiple streams. XM has
done a great job getting the word out about their product and, as a
result, our show is heard by a lot of people everyday via XM. I really
didn't have any expectations with satellite radio. It was a new product
and the verdict was out for a long time. I will say that the audience
has grown very quickly and the listeners are very passionate and loyal.
As far as owning and distributing our own show, there are certainly
benefits. We still have the ability to move quickly. We can make
decisions and implement changes without having to go through all the red
tape. I think that has benefited us in a huge way.
XMFan: Your book
The Total Money Makeover is
obviously still very relevant, despite being a couple of years old, but
do you have any new books in the works?
Dave: Right now I don't have
plans for another book.
"The Dave Ramsey Show" can be heard
weekdays on XM-165 Talk Radio from 3:00 p.m. - 7:00 p.m. Eastern Time. For more
information on what Dave Ramsey is all about, please visit
http://www.daveramsey.com.
Coach K: Ken Pomeroy 10 March 2009, 10:47 am Coach K and TJ Rives talk about the exciting Super Bowl, Bruce Springsteen's energetic performance during the halftime, and the exciting tennis rivalry of Nadal and Federer. Coach K discusses the latest college basketball news explaining why the parity in the ACC is good for the conference and the game in general. Statistician Ken Pomeroy, who runs the popular college basketball website www.KenPom.com, explains how statistics often times create skewed interpretations, the problems with the RPI ranking system, and his approach to analyzing "efficiency" statistics. During the beyond segment, Coach K and TJ Rives discuss the concept and use of "statistics".
Coach K: Pat Summitt 10 March 2009, 10:47 am Coach K and Dave Sims talk about Duke's defensive failures in two straight losses, the emotional event that is Duke v. UNC, Kobe Bryant and Shaquille O'Neil's reunion on the Western Conference All-Star team among the events of the All-Star weekend. Pat Summitt, University of Tennessee women's basketball head coach, talks about the humble beginnings of women's basketball at the University of Tennessee, her start as a head coach at the young age of twenty two, how she was able to build a strong program, and the differences between the men's and women's college basketball game. During the beyond segment, Coach K and Dave Sims discuss the word "pioneer".
Coach K: Pat Riley 10 March 2009, 10:47 am Coach K and Dave Sims discuss the loss of NC State women's basketball coach Kay Yow to cancer praising her efforts working with the Jimmy V Foundation and setting an example for those afflicted with the disease as someone who fought for her life with dignity. Coach K discusses Michael Reddâs season-ending injury, the professionalism of the US Men's Olympic team players, Elton Brand's return to the Philadelphia 76ers, Duke's tremendous win over Maryland amongst other highlights from the week in college basketball. Pat Riley, 5-time NBA Champion head coach and current Team President of the Miami Heat talks about his approach to coaching superstar talent like Kareem Abdul-Jabbar, Magic Johnson, Shaquille O'Neil, and Dwayne Wade. Riley examines the psyche of the superstar athlete and how to best manage their tremendous talent. During the beyond segment, Coach K and Dave Sims discuss the word "legacy".
Coach K: David Falk, Malcolm Moran 10 March 2009, 10:47 am Coach K and Dave Sims talk about Duke's win over Wake Forest, Oklahoma's valiant effort against Texas without their star Blake Griffin, and the requirements for a "bubble team" to make it into the tournament. David Falk, super-agent and author of The Bald Truth, talks about how Michael Jordan changed the system of sports marketing revolutionizing how athletes' images are promoted to the public. During the beyond segment, Coach K and Dave Sims discuss "confrontation" with Penn State University professor of sports journalism Malcolm Moran.
Coach K: Rece Davis 10 March 2009, 10:47 am Coach K and TJ Rives talk about Pat Summit's 1000th win, news around college basketball for the week, and the greatness of the Duke, UNC rivalry of the generations. ESPN GameDay anchor Rece Davis talks about switching from college football to college basketball coverage, managing multiple personalities including Bob Knight, Digger Phelps, and his other talented analyst, the brutal Big East schedule versus the ACC, and the Duke, UNC rivalry experience on location with ESPN GameDay. During the beyond segment, Coach K and TJ Rives discuss the concept and use of "tempo".
Coach K: Lee Corso 19 December 2008, 3:06 pm Coach K discusses Duke winning its first tournament of the season and the health of his team. Coach K and Dave Sims talk about the College Basketball Hall of Fame including the recent inductees. They examine Brett Favre and Donovan McNabb's respective situations. Lee Corso of College Game Day on ESPN discussed his life and work in the game of college football, the slim chance there will ever be a college football playoff system, and the potential scenarios for BCS Bowl eligible teams. During the Beyond segment, Coach and Dave focus on Mascots.