In your mind, what’s the biggest thing a family can live without when it comes to getting control of your money and living on a budget?
— Will
Dear Will,
On a regular, day-to-day basis, I think maybe the biggest and best thing you can eliminate is eating out. There are always the shiny things people can do without. Sometimes people sell a fancy car or boat, and get rid of a $600-a-month payment right off the bat. But it’s really not a good idea to be eating out when you’re broke. It really adds up.
I love a good restaurant, and I’ve got nothing against the industry. The problem, though, is that lots of people are struggling to pay their bills or set aside something for retirement because they’re eating out all the time. Most folks simply don’t realize how much money they throw away by heading to the drive-through for lunch or going out to dinner “once in a while.”
I want people to enjoy life, and a great part of that can be going out and having a meal with your family and friends. But if you’re experiencing financial issues, the only time you should see the inside of a restaurant is if you’re working there!
— Dave
Dave Ramsey is a personal money-management expert and national radio personality. His four New York Times best-selling books — “Financial Peace,” “More Than Enough,” “The Total Money Makeover,” and “EntreLeadership” — have sold more than seven million copies combined.
