During an episode of the program about personal financial help, The Dave Ramsey ShowThe show host and acclaimed financial guru, Dave Ramsey, received a call from a woman who decided to turn her finances around. She called for advice and left with an unexpected gift from Ramsey.
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The episode opened with caller Tasia revealing to Ramsey that she had found his page on the social media app TikTok, which gave her the push she needed to get out of debt. Tasia told Ramsey that she had started her emergency fund, which is something Ramsey and his team have been teaching people to do. According to Ramsey Solutions, a starter emergency fund should have at least $1,000 as a temporary cushion, while a fully funded emergency fund should save at least three to six months of expenses.
In addition to setting up an emergency fund, Tasia told Ramsey that his advice helped her avoid overdrafting accounts. Tasia revealed that she had overdrawn her bank accounts her entire life, so this was a significant achievement for her, and Ramsey agreed. He told her, “This is a breakthrough, isn’t it, boy? Well done.’
When it comes to overdrafts, Tasia is not alone. U.S. Senator Bob Casey sent out a press release in April of this year condemning major investment banks for profiting from excessive overdrafts. In his statement, Casey wrote, “Approximately 23 million households have overdraft fees each year” and that “26 percent of Americans live in a household that experienced an overdraft or underfunded fee in the past year.” Casey revealed that American families are struggling to make ends meet, and more and more are going into overdraft. According to ABC News, Americans paid a whopping $9 billion in overdraft fees last year, with banks charging about $35 per overdraft transaction. Currently, lawmakers are in the process of passing a rule to try to reduce these overdraft fees.
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Now that Tasia has managed to get herself out of her overdraft, she can focus on growing her savings account. She told Ramsey she makes a combined $90,000 a year from her three jobs and still has about $30,000 in debt, half of which is student loans. Ramsey told her, “You’re ready. You’re ready to try new things because you’re tired of being sick and tired.” Ramsey also told Tasia that he was proud of her and then revealed his gift to her: a paid 9-week Financial Peace University course and paid access to the EveryDollar budgeting app. Ramsey explained that he is gifting her this experience because she is the reason why he is doing the show. He explained, “People who are just like you, who for the first time in their entire adult lives, you’re not overdrafting because we taught you something,” adding, “Now we’re going to teach you how to get rid of this debt .” Ramsey told Tasia that he would teach her how to become a millionaire.
When Ramsey told Tasia his gift to her, she burst into tears at the unexpected gesture and told him, “This is my dream to talk to you.” Ramsey told Tasia that he would help her take control of her money instead of wondering where it was going, and give her the tools to make healthy financial decisions. With Ramsey Solutions, Tasia learns how to use the snowball method to pay off her debts, from small to large. Ramsey promised that if she followed this advice and stayed out of restaurants without vacations, she would be 100% debt-free by next year.
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This article Three-Job Woman Struggling With Lifelong Overdraft Receives An Unexpected Gift From Dave Ramsey That Leaves Her In Tears originally appeared on Benzinga.com
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