Dave Ramsey Says 'If You're Having Financial Issues, The Only Time You Should See The Inside Of A Restaurant Is If You're Working There' — Dining Out Is Fun, But It's Not For 'Broke' People

Dave Ramsey, a prominent figure in personal finance, continues to share valuable financial advice on social media, emphasizing the importance of living within your means. Ramsey, known for his financial acumen, radio presence, successful business ventures and status as a bestselling author, has built a significant following through his practical and straightforward financial guidance.

In a recent Instagram post, Ramsey highlighted a common financial pitfall: overspending on dining out. 

“I love a good restaurant, and I've got nothing against the industry," he wrote. "The problem, though, is that people are struggling to pay their bills or set aside something for retirement because they're eating out all the time. 

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"I want people to enjoy life, and a great part of that can be going out and having a meal with your family and friends. Just don't do it when you're broke. If you're having financial issues, the only time you should see the inside of a restaurant is if you're working there.” 

This advice underlines the importance of prioritizing financial stability over lifestyle choices that could exacerbate financial difficulties.

Ramsey’s insights extend beyond commentary on dining habits, underlining a broader theme in his financial philosophy: the importance of prioritizing and budgeting, especially for those facing financial challenges. Food is not just another topic of discussion but a central focus in managing finances wisely, especially for those who are struggling to make ends meet, Ramsey said.

In a February Instagram reel, he introduced the concept of “The Four Walls” — prioritizing spending on essentials: food, utilities, shelter and transportation, in that order. 

According to Ramsey, food is the No. 1 financial priority. He urged the importance of distinguishing between necessities and luxuries, stressing that food should be purchased from the grocery store, highlighting the importance of cooking at home as an affordable necessity. "Some of you people, the only thing you know how to make is a reservation," he said. 

Once food is covered, next are utilities like electricity and water. He doesn't include cell phones, Wi-Fi or streaming services in his list of utilities, only the basics. 

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He said once "bellies are full and you're warm” you can then move on to shelter. “Take care of your place to live so you’re not homeless,” he said, suggesting that with focused effort, most people can manage to cover their basic food and utility expenses if they prioritize these above all else. 

Ramsey’s guidance extends to a pragmatic approach to budgeting, especially when funds are tight. 

“Almost anyone can scratch around and make enough money to buy their food, keep their electricity current if they’re first, second and third and keep your rent paid,” he said. 

He encourages a calm, strategic approach to financial management. “We’re gonna eat before we do anything. Not eat out," he said. "We’re going to pay the utilities — not cable — before we do anything. We’re going to pay rent. Until you clear food, utilities, housing and transportation and get them all current … you don’t spend anything else on anything.”

His approach, while practical and accessible, is a foundation on which people can build a personal financial plan. It’s important to remember that while such advice provides valuable guidance, personal finance is highly individualized. For those navigating complex financial landscapes or seeking to optimize their financial strategy, consulting a financial adviser is a key step. 

A financial adviser can offer tailored advice, taking into account a person's financial situation, goals and risk tolerance. Professional input can enhance a financial plan, ensuring it aligns with both short-term necessities and long-term aspirations.

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*This information is not financial advice, and personalized guidance from a financial adviser is recommended for making well-informed decisions.

Jeannine Mancini has written about personal finance and investment for the past 13 years in a variety of publications including Zacks, The Nest and eHow. She is not a licensed financial adviser, and the content herein is for information purposes only and is not, and does not constitute or intend to constitute, investment advice or any investment service. While Mancini believes the information contained herein is reliable and derived from reliable sources, there is no representation, warranty or undertaking, stated or implied, as to the accuracy or completeness of the information.