The Dave Ramsey Ken and Barbie reference is one of many references the financial guru is known for.
Who is Davey Ramsey?
Dave Ramsey is a popular talk show host and best-selling author who has made a name for himself in the personal finance and investing space. He’s an authority figure, thought leader, and financial expert who helps people that call into his show with financial advice and ways to get rid of debt and become financially free.
Dave has had his fair share of bizarre calls from people with major financial problems, mountains of debt, or homes soon to be foreclosed. Some calls became memes spread across the internet which spawned websites dedicated to the memes stemming from his show.
This article will explore the Dave Ramsey Ken and Barbie reference, net worth, and memes that made Dave famous over his long career.
Dave Ramsey Ken and Barbie
One of Dave’s most well-known references is to “Ken and Barbie,” which he brought up in a 2014 episode of The Dave Ramsey Show (now shortened to The Ramsey Show). The episode starts with Dave explaining how everyone has done stupid things in their lives, but most people are unaware of the stupid actions made by others.
Then he says that every church has at least one “Ken and Barbie,” meaning all churches have at least one family that looks perfectly normal on the outside and seems to have a perfect life with perfect children, a big house, and are also physically attractive.
Don’t Let the Ken and Barbies Fool You
However, Dave found through financial counseling that “Ken and Barbie” couples often have major financial problems and make egregious money mistakes beyond belief. While counseling these folks, Dave admittedly found himself happy that these couples weren’t so perfect after all.
Dave pointed out that we often mistake those around us for being in good financial shape, wealthier than us, and overall happier in life. In reality, those who look the best on the outside and have the best things may also be the ones who make poor decisions and struggle most financially.
Most Ken and Barbie couples have problems just like the rest of us. The story’s lesson is to focus on yourself and improving your financial health and not so much on the vanity metrics and outward appearances of those around you.
In short, the Dave Ramsey Ken and Barbie reference can be defined as people that appear rich but are really financially poor.
The Early Years
While you may know Dave Ramsey as the personal finance guru and popular radio talk show host, you may not have known that Dave filed for personal bankruptcy at age 28.
That’s right.
Before Dave amassed his wealth and became who he is today, he was a struggling young man who had a knack for entrepreneurship at a young age. Dave passed his real estate exam when he was 18 and used his real estate commissions to pay for his college education.
Dave Ramsey Bankruptcy
Dave Ramsey’s financial troubles started after graduating college when he decided to get into flipping homes. He financed his investment properties and had a net worth of $1 million when he was only 26.
His success in the real estate industry in the 1980s was short. Dave found himself owing nearly $2 million to his bank which wanted immediate payment after it was acquired by a larger bank.
Dave filed for personal bankruptcy and lost his entire real estate portfolio. His credit took a major hit and the bankruptcy stayed on his record for seven years.
Dave’s life turned around once he found religion as his saving grace. After church one day, he offered to help create a financial plan for a desperate church-goer and his family. This was the actual start of Dave’s career.
Dave Ramsey Net Worth
Dave Ramsey’s net worth today is estimated at $200 million according to several online sources. He started his career in radio in 1992 when he co-hosted “The Money Game” with Roy Matlock. The show evolved into “The Dave Ramsey Show” and syndicated to over 600 radio stations in the U.S. and Canada.
Most of Dave Ramsey’s net worth is from his radio show and related income sources. He rebuilt his extensive real estate portfolio which also accounts for much of his net worth.
He received some criticism when he told investors they could earn 12 percent returns from real estate investing with his strategy while also making some lavish purchases for himself. He splurged on a mansion in 2010 that drew some backlash when some of his followers took issue with him preaching about being smart with money and saving whenever possible.
Dave Ramsey Memes
The Dave Ramsey memes on the internet have been gaining popularity, propelled by the Reddit forum which started in 2019. This Reddit community is described as “A community to share all your memes related to Dave Ramsey, the baby steps, and the debt free lifestyle.”
There are over 800 members and weekly posts on the forum all about funny memes of Dave and his teachings.
Several other websites and social media accounts are also dedicated to spreading Dave Ramsey memes across the internet. BounceMojo has a list of the top 10 Dave Ramsey memes, and Do You Dave Ramsey is an entire site meant to spread the knowledge of his teachings to millions of other people who are just starting to realize the power of living a debt-free life.
The 7 Baby Steps
Dave Ramsey’s 7 Baby Steps program is a way to improve financial health for those with debt or other financial struggles. The goals of the 7 Baby Steps are to prepare for emergencies, pay off your debt, and build wealth over time.
Below are Dave’s 7 Baby Steps:
Baby Step 1. Start by saving $1,000 for your emergency fund.
Baby Step 2. Use the debt snowball to pay off all your debt (excluding your house).
Baby Step 3. Save 3-6 months of your expenses in an emergency fund.
Baby Step 4. Invest 15% of your combined household income into retirement savings.
Baby Step 5. Start to save for your children’s college fund.
Baby Step 6. Work towards paying your home off early.
Baby Step 7. Build wealth and give back.
Final Thoughts
Dave Ramsey has undoubtedly made a name for himself in the personal finance industry. He’s one of the most prominent thought leaders and disseminates information on his website, YouTube channel, and radio show to millions of listeners.
Dave Ramsey’s net worth of $200 million is likely to continue to increase as his platform draws in different audiences who discover Dave’s teachings and why his approach to money management works for so many people.
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