In your mind, what's the biggest thing a family can live without when it comes to getting control of your money and living on a budget?
On a regular, day-to-day basis, I think maybe the biggest and best thing you can eliminate is eating out. There are always the shiny things people can do without. Sometimes people sell a fancy car or boat, and get rid of a $600-a-month payment right off the bat. But it's really not a good idea to be eating out when you're broke. It really adds up.
I love a good restaurant, and I've got nothing against the industry. The problem, though, is that lots of people are struggling to pay their bills or set aside something for retirement because they're eating out all the time. Most folks simply don't realize how much money they throw away by heading to the drive-through for lunch or going out to dinner "once in a while."
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. But if you're experiencing financial issues, the only time you should see the inside of a restaurant is if you're working there!
Dave Ramsey is America's trusted voice on money and business. He has authored five New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, EntreLeadership and Smart Money Smart Kids. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.