Finance guru Dave Ramsey reveals life-changing phone call which helped him break free from debt

Finance guru Dave Ramsey has revealed the eye-opening phone call that led to him deciding no one in his family would ever be in debt again.

Ramsey , with eight national bestselling books, shared a turning point moment came after an American Express representative asked his wife, 'why she would stay with a man that won't pay his bills'.

It was at that point that he decided, 'you know what? This is it. Never again will we borrow money .'

He said that the thing that 'changed his life' was the 'nobility of his future'.

'Never again is American Express going to call my house and ask my wife why she would stay with a man that won't pay his bills. And yes, they did do that. And I was a very mad redneck.

'I am going to be the last Ramsey in this branch of the family tree in debt, because not only am I going to build so much wealth, save and invest, I'm going to teach my kids too.'

One viewer agreed, writing: 'You probably see it every day, but it's true: At some point, you just have to take action.'

Ramsey has built a name for himself hosting an advice show where he receives calls from people across the country who are struggling with debt and financial troubles .

He said that their goal is to help others break free of debt , build wealth and 'create a future that's yours'.

'We talk to regular folks every day, [they] call in most of the time with financial trouble sometimes with financial victories,' he said in a video where he sat down with president-elect Donald Trump and discussed his plans for lowering taxes.

'Stuff we've taught them to do, the basic Grandma common sense stuff.'

Trump even said that he had watched Ramsey for 'his whole life' . When the pair met, the president-elect added: 'This should be the easiest interview because I've learned from him.'

Ramsey first cropped up in the early 1990s when he started a radio show answering callers' money questions in Nashville, Tennessee.

His frugal advice was inspired by his earlier life when he took on too much debt through buying real estate, a Jaguar, jewelry for his wife and a trip to Hawaii.

He was forced to file for bankruptcy in 1988.

Today, he has a net worth of $200 million, 5.6 million Instagram followers and 2.5 million followers on TikTok.

Advice on his website includes curbing your $4 daily coffee habit which he says can save individuals $22,995 over the course of 30 years.

His 35-year-old daughter followed in her father's footsteps by becoming a money and budgeting pro.

And just like her hero, Rachel Cruze gives out the best financial tips to keep your bank account in the best shape possible on social media.

Ramsey's advice is not only confined to financial troubles, but shares wisdom that can help listeners' quality of life.

In one tweet, he wrote: 'If you'll make the sacrifices now that most people aren't willing to make, later on you'll be able to live as those folks will never be able to live.

'You can't get out of debt while keeping the same lifestyle that got you there. Earning more money doesn't automatically make you a better manager of your money.

'You've got to learn to live on a budget, or you'll always feel stressed with your finances,' he said in another.

While Ramsey has an array of both supporters and critics, many agree real-world financial tips and advice is essential to correcting mistakes and enhancing lives.

'Amen to this! I always say: when you fall down, fall forward. You're one step closer to success. Thanks for inspiring Dave,' wrote one.

'I just ordered your book, I can't wait to read it, study it and make sure both my kids use it like the Bible. Thank you,' another said.

'We don't learn about money in traditional school. I know you are proud you made that decision and thank you for sharing so others can to,' someone else added.