When You Need Help in Making Money

When you need help making money, who gives the best advice?

Dave Ramsey says you should not take financial advice from people who are not wealthy.  I really don't like the guy.  I think he is pretty arrogant.  He also makes money from his radio show and from his books and the people he "helps" are not able to follow in his footsteps.  I don't say he hasn't taught anyone how to save money and pay off the bills.  But his basic advice is pretty basic and a lot of people say the same thing or similar.

I like Lance Roberts much better than Ramsey.  Roberts boils down the secret to building wealth very quickly: spend less than you make.  That is the secret.  Figuring out how to do that is the hard part.

You can try to increase your income or reduce your expenses or maybe do both.  But whatever you do the solution will be unique to your life situation.

I know people overspend.  Why do we buy new cars instead of old cars?  Why do we spend so much money eating out at restaurants?  Why do we pay for expensive hotel rooms when we vacation?  Yeah, there are a lot of ways we can cut down on our expenses.

But I don't like guys who make millions of dollars from radio shows and books telling us that no one else is qualified to give you advice on how to save money.

If you're going to invest money in the stock market you probably should study economics.  I don't think that's a bad idea but I'm not an economist.  Can you see Ramsey telling someone, "yeah, you want to invest $100,000 in the stock market?  Get some economic theory under your belt."  Ramsey just tells people, "go ahead and invest in the stock market".  He has his own theories but what if he is wrong?  What do you do if you don't understand all that stuff yourself?

If you have trouble saving money with coupons the stock market might be a little much for you.  And I know people struggle to save money with coupons.  You can read all the save money with coupons Websites in the world and still not get this thing figured out.  You really need to understand what it is you are doing before you're going to succeed in saving or earning money.

And because there is no one-solution-fits-all path I think you should look at different ways to make money on the Internet.  You can't be an expert at all of them.  But you should study them and maybe try them out before you can learn which way is best for you.

And when it comes time to start investing in the stock market, if that is what you want to do, then take baby steps.  Learn the ropes gradually and take as few unnecessary risks as possible.

You can experiment with safe, simple strategies for investing in the stock market before you take on the big challenges.  That is what I am doing.  And I am asking questions where I can.

I may not be as rich as Dave Ramsey, and I don't have a radio show like he does, and I don't sell books like he does, but I think if you make a plan and test your options and stick to it you should do okay.