Anti-debt guru doles out makeovers

   On the radio, Dave Ramsey dispenses financial advice with down-home charm, endlessly advising listeners to get out of debt and start saving money.

   Ramsey built a real estate portfolio worth millions by the time he was 26, then lost everything and declared bankruptcy. That spurred him to change the way he looked at his own finances and eventually to preach the gospel of fiscal discipline to the world.

   He'll be at World Arena presenting his "Total Money Makeover" live at 1 p.m. Saturday. His radio show is 9 to 11:45 a.m. weekdays on KRDO (105.5 FM and 1240 AM). 

   Question: Are people scared about the economy?

   Answer: Some are, but it's mainly because they're watching the news. Mostly, it's just the national news having a hissy fit.

   Q: Does being scared lead them to make smarter decisions?

   A: I hope that's one of the benefits of people being falsely alarmed. For every person that's smart and wising up I find three that don't want to put money in their 401(k) because the market's down and the world's coming to an end. Hopefully it'll give a few folks a wakeup call.

   Q: A lot of your advice is common sense - even if common sense is not so common. Do you worry you'll run out of ways to tell people to wise up, spend less and save more?

   A: I don't know that I've got very many ways. I guess me and Jenny Craig, we're both going to be in business awhile - eat less, exercise more. Spend less, save more.

   Q: Why do people listen when the advice never changes?

   A: I think the only reason the show is interesting is not because the advice changes, but because people's lives change. Dear Abby's advice doesn't change, but we all read the column. 

   Q: What are the most important steps for people to take to weather a bad economy?

   A: The question is, how do you prosper? And the answer is the same in good times and bad times. The answer is to get out debt and save and invest. These are never dumb things to do in any economy. That's the fun thing about our show - I didn't have to change anything.

   Q: What's the worst mistake they can make?

   A: I had a lady just moments ago call me from Atlanta. She was questioning, "Will they ever get caught up?"

   It takes awhile to get turned around from stupid and head toward smart. The dumbest thing people do is they don't pay attention. You're not dumb people, you're just doing dumb things.

   Q: What's the most common question you get these days?

   A: I think the biggest thing that's changed in the last two years, I am honestly getting more foreclosure questions and short-sale questions.

   In Michigan, parts of Florida . . . they can't give a house away in those two places. In Kansas City, things are OK. My perception is, most of Colorado Springs is doing pretty well. Denver, not so good.

   Q: Do you think economic illiteracy has bottomed out in this country? Will people get smarter about their money?

   A: I don't know about on the macro sense how bad it can get. There seems to be a lot of currency in dumb. I am encouraged that anyone with any level of education can have an "aha" moment and get serious about changing their lives. They can have that light bulbover-their-head moment and say, "Yeah, I can do this." You hear the hopelessness turn to hope - you hear it in the vocal chords, their voices tighten.
   Am I going to change the whole nation? I don't think that's my job, that's a big job.

   Q: What do people get at the live show that they can't from listening to your radio show or reading your books?

   A: Probably a lot more humor for one thing. It's virtually stand-up comedy.

   They get to sit with their spouse or one of their friends or somebody and get the whole picture from beginning to end of the step-by-step process that takes you all the way to wealth. On the (radio) show, it's snapshots. Here, we paste all the snapshots together and make a movie.
   It is truly edu-tainment. It's not just your mother's 401(k) meeting.

   Q: The $169 platinum tickets to the Colorado Springs event are sold out. If people can afford the platinum ticket, do they even need the advice?

   A: They want the advice on the investing side. Half of the event is on college and mutual funds and paying off your house.

   I do run into people in platinum sometimes who really shouldn't have bought that ticket. I try not to be insulting. I'm not your answer anyway - it's the information that's the answer.

   Q: What should people do with those tax rebates?

   A: Apply them on wherever they are in the baby steps. I don't think there's anybody I told to go spend it. It's not your patriotic duty to make your family broke.

   Q: What should you do when you've paid off your debts and built up your savings?

   A: You always need to be giving, you always need to be having fun, and you always need to be investing. That's really the only three things you can do with the money.

CONTACT THE WRITER: 636-0275 or awineke@gazette.com