What does it mean to be weird with your money? According to financial guru Dave Ramsey, being weird with money means going against the grain of conventional financial wisdom. It means rejecting the status quo of debt, overspending, and living without a plan.
He urges people to figure out what most folks are doing with their money and then do the exact opposite. The reason being – most people are broke. If you emulate the behaviors and habits of the majority, you will end up with the same poor results.
The average American is drowning in debt, has little to no savings, and is living paycheck to paycheck. So being normal is not something to aspire to.
Some examples Ramsey gives of how normal people mismanage their finances:
- Spending more than they earn
- Having no budget or financial plan
- Relying on credit cards and racking up debt
- Leasing expensive cars to impress others
- Having no savings and being unprepared for emergencies
- Overspending on housing
- Retiring with no nest egg except Social Security
Normal is financing an Iphone along with $80-$100/mo cell phone plans. Weird is settling for a $50 Tracfone and forgoing data plans.
Normal is paying for Cable TV and streaming services. Weird is getting a library membership and reading books or checking out movies/TV shows for free.
Normal is buying your kids new clothes, toys and school stuff on credit. Weird is buying used stuff or free stuff from Facebook swap groups.
Normal is grabbing fast food and going out on weekends. Weird is meal prepping and cooking beans rice and oatmeal and vegetables.
Normal is paying minimum debt payments. Weird is throwing everything at them and never repeating the mistakes.
90% of people don’t have the discipline to do this which is why 90% are stuck on the grind regardless of income. Be weird. Escape.
The average American is paycheck to paycheck, loaded with debt, and financially fragile. So why would you want to copy them? Instead, Ramsey advises:
- Live below your means, not lavishly to portray wealth
- Avoid debt like the plague and use cash instead of credit
- Have a written budget that guides your spending intentionally
- Save and invest money consistently, not just what’s left over
- Focus on quality relationships, not accumulating possessions
It comes down to behaviors more than knowledge. Decide to behave differently than the norm. Be willing to be labeled “weird” or “strange” for making unconventional money choices. Your goal is to be the opposite of broke – and that means being the opposite of normal.