'Stop Acting Rich. You Don't Have Any Stinkin' Money' — Dave Ramsey Slams Everyone Living Above Their Means To Fit In, Saying 'People Are Stupid'

In a March TikTok video, financial adviser Dave Ramsey urged his viewers to embrace a more modest lifestyle, criticizing those who pretend to be wealthier than they are. His message was clear: "Stop acting rich. You don't have any stinkin’ money." 

Ramsey argues that many individuals who earn substantial incomes — $60,000, $90,000 or even $160,000 annually — still face financial instability. They are, as he puts it, "broke," burdened with continuous payments and misplaced priorities.

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Ramsey likened this behavior to the Texas phrase "big hat, no cattle," indicating that outward appearances often do not match economic realities. He said that true financial progress can be met with criticism: "If people aren't making fun of you, you're probably not on track. Because people are stupid. People are broke."

Accompanying his video, Ramsey offered a caption emphasizing the importance of genuine wealth over the appearance of wealth and outlined his "7 Baby Steps" method for achieving financial security. This method includes starting an emergency fund, eliminating debt and investing wisely. 

While Ramsey's steps are praised for their structured approach to financial health, they also attract criticism, particularly for their rigidness and conservative investment strategies. Critics argue that the steps might not be flexible enough to suit everyone's unique financial situation. For instance, the suggestion to save a $1,000 emergency fund before paying off high-interest debts may not be sufficient for some families, and the focus on debt repayment over investing can delay wealth-building opportunities that come from longer-term investments like 401(k) matches.

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In response to the TikTok post, some users have pushed back, arguing that life is also meant to be enjoyed, not just endured with strict financial austerity. They express concerns that overly stringent saving and spending cuts can lead to a life of deprivation, missing out on experiences and quality of life in the name of financial stability. 

While Ramsey's plan provides a solid foundation for financial planning, it's clear that one size does not fit all. Individuals might need to adjust their steps based on their personal risk tolerance, financial goals and lifestyle desires. Thus, while Ramsey's advice may serve as a helpful starting point, it should likely be tailored to fit individual circumstances and aspirations.

Consulting a financial adviser can provide a more customized financial plan. A professional adviser can help evaluate your financial situation, consider your personal preferences and lifestyle and adjust the steps to better suit your individual needs and aspirations. Professional guidance can help you make informed decisions that allow you to enjoy life while saving for the future and living within your means. 

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