Dave Ramsey Expains How Allowing One Type Of Person In Your Life Leads To Major Money Problems
So-called "dysfunctional people" can prevent you from having a sustainable future.
Prostock-studio / Shutterstock Anything money-related can be difficult to discuss with the people in your life. For some, even talking about personal finances at all is considered taboo and should be kept personal.
However, in a TikTok video, Dave Ramsey, a radio personality who gives financial advice, revealed that it may be time to start having those difficult conversations about money, especially with the people in our lives who are taking advantage.
He claimed that allowing one specific type of person in your life can lead to major money problems.
"Very few people build wealth dragging a deadbeat along," Ramsey began in a clip from his podcast, "The Dave Ramsey Show." He explained that associating with someone who doesn't care about their own financial future can often bleed into how much money we earn ourselves and the wealth that we can acquire in the future.
He claimed that someone who doesn't work, who can't tell the truth, or who won't even file their taxes are all examples of a dysfunctional person that we shouldn't be helping or even allowing in our lives.
"These dysfunctional people that are in all of our lives to the extent that we're wrapped up with them pretty much ensures that we're gonna create a situation where we can't build a sustainable future," Ramsey concluded.
In the comments section, people heavily agreed with Ramsey's assessment.
Some even admitted to having people in their lives who held them back from building something worthwhile in their lives.
"When I was married, we were in debt. I thought it was me. We got divorced. I haven’t been in debt since, 16 years later," one TikTok user shared.
Another user added, "I support us with the degree I obtained. Worked the entire time I was in school to pay our bills but can't get help to pay loans back."
"I only built wealth during the years I was single. The last two years in toxic relationships, my wealth declined. Happily single again now," a third user chimed in, while a fourth user questioned, "Then what do we do? I've spent years encouraging, pleading, begging my husband to try working on building a better life with me he won't put in the effort."
It's important to set financial boundaries with anyone in your life to ensure your well-being.
Before delving into creating financial boundaries, it's important to reflect on your values and financial priorities. You need to identify what matters most and the goals you want to be able to achieve.
According to LifeHacker, keeping the conversation clear and direct while also getting ready to stay strong are two vital points to consider. "Be prepared to meet that resistance. This might look like clearly stating your expectations in situations where money gets passed around," the publication stated. "The key is to avoid shaming anyone who might be impacted by your boundaries — reiterate that this is about you, not them. Send a clear message with fair expectations."
While speaking with NerdWallet, Michael G. Thomas Jr., a lecturer and accredited financial counselor, advised that the best way to handle someone refusing to adhere to your boundaries is to make sure that you're clear on the context of it all.
"Once you’ve listed all the things you want to do with your money this year, you can tell people what you’re excited about and your hopes," Thomas said. "When you share that with people, people are less likely to bother you — you’re not just saying 'no,' you're saying, 'Here’s what I want to accomplish, which means being more resourceful.'"
At the end of the day, your financial future is something to take seriously, and there is nothing wrong with setting stern, yet respectful, boundaries with the people in your life who may be taking advantage of you. By sharing your aspirations, you're more likely to get support and less likely to face resistance.
Nia Tipton is a Chicago-based entertainment, news, and lifestyle writer whose work delves into modern-day issues and experiences.