Dave Ramsey Recalls When He Was Poor & His Car Broke Down On Third Date: 'I Had $1.16 In My Account' And Was Telling Her 'I'm Gonna Be A Millionaire'

Dave Ramsey Recalls When He Was Poor & His Car Broke Down On Third Date: 'I Had $1.16 In My Account' And Was Telling Her 'I'm Gonna Be A Millionaire'

Fahad Saleem

Mon, December 1, 2025 at 8:01 PM EST

3 min read

Personal finance expert Dave Ramsey frequently emphasizes the importance of having an emergency fund to handle unexpected costs. Answering a question on "The Ramsey Show," he said an emergency fund becomes even more important when someone is struggling financially.

Ramsey said when money is limited, people often rely on older things, which raises the chance of repairs and unexpected costs. He recalled a time when he was struggling financially and was driving an old car on a date with his now-wife, and it broke down.

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"Sharon and I are on our third date I’m driving a Monte Carlo and I had a dollar 16 in my checking account," Ramsey said. "We’re on our third date. I’m explaining to her how someday I’m gonna be a millionaire. I got a buck sixteen literally in my checking account, I’m telling her, and about that time we went across a railroad track and the muffler fell off my car."

More Money, Fewer Emergencies

Ramsey said he can hardly remember his car breaking down on the road in recent years, as having wealth has allowed him to buy more reliable vehicles. He believes that having more money can turn major crises into minor inconveniences, and car breakdowns or other unexpected problems no longer trigger strong emotions or stress.

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"When you’re not broke, you do proper preventive maintenance on things like cars and heating systems, so stuff doesn’t break as much," Ramsey said. "Plus, you buy better heating and air systems and better cars so they don’t break as much and so you do have fewer emergencies because you’re dealing a better quality stuff."

It's ‘No Biggie' When You Have an Emergency Fund

Ramsey said that having no emergency fund significantly increases stress during a crisis because you must deal with the problem itself while also worrying about how to pay for it.

"You got no money and you got a broken car, so it just doubles or triples the drama, but when the car breaks and you have an emergency fund, you know what you do?" he said. "Fix the car. Yawn. No biggie."

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This article Dave Ramsey Recalls When He Was Poor & His Car Broke Down On Third Date: 'I Had $1.16 In My Account' And Was Telling Her 'I'm Gonna Be A Millionaire' originally appeared on Benzinga.com

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