Whether it's 80/20 or 95/5 it's just numbers, you and Dave technically agree that the majority of financial adjustment starts with behavior and making the decision to change.
I think Dave named it 80/20 to use the association with "80/20" to drive home a point...and reflecting the knowledge it takes to get and stay really wealthy.
To get debt-free requires 5% knowledge, but after that, to get wealthy, you have to deal with insurance, real estate, taxes, stocks, new job skills to improve income...and if you get into business for yourself (per Dave's role model): marketing, accounting, law, etc. and that ups the knowledge percentage.
Sounds to me like you agree with Dave Ramsey... Whether it's 80/20 or 95/5.. you both agree that changing behavior is the REAL key to changing your financial destination. It's not about what you know... it's about what you DO with what you know.
You are correct though... that as a financial coach... you can't do it for them. You can't... I can't..... Not even Dave can make someone do the right things with their money. All we can do is be available when they have a question.
Whether it's 80/20 or 95/5 it's just numbers, you and Dave technically agree that the majority of financial adjustment starts with behavior and making the decision to change.
bflatsdrummer 9 months ago 3
I think Dave named it 80/20 to use the association with "80/20" to drive home a point...and reflecting the knowledge it takes to get and stay really wealthy.
To get debt-free requires 5% knowledge, but after that, to get wealthy, you have to deal with insurance, real estate, taxes, stocks, new job skills to improve income...and if you get into business for yourself (per Dave's role model): marketing, accounting, law, etc. and that ups the knowledge percentage.
TheGoalSetter 9 months ago
Agree Waxius.......people need to own it
gpechmann1 9 months ago
Sounds to me like you agree with Dave Ramsey... Whether it's 80/20 or 95/5.. you both agree that changing behavior is the REAL key to changing your financial destination. It's not about what you know... it's about what you DO with what you know.
You are correct though... that as a financial coach... you can't do it for them. You can't... I can't..... Not even Dave can make someone do the right things with their money. All we can do is be available when they have a question.
Waxius2 9 months ago