Dave Ramsey says: Don’t be afraid to start small

Dec 17, 2023, 5:45 AM

Online business on phone....

Don't be afraid of humble beginnings when starting an online business. (Pexels File Photo)

(Pexels File Photo)


I’d like to slowly start a business online while working my regular job. But even though I’m in pretty good financial shape, I don’t have much money left at the end of the month. I have no debt except for my house, and I also have nine months of expenses in my emergency fund. How can I start my business without borrowing the money?



I like where your head is. Start and run your business with cash. Period. Even if it takes a little while to get things off the ground. That should be a guideline for every entrepreneur.

But guess what? You may have more money on hand than you think. You’re a little heavy on your emergency fund right now. I recommend people have three to six months of expenses set aside for emergencies. You could back your emergency fund down to six months of expenses, and move the extra over to an account designated for your business. After that, grow it slowly each month until you have enough to open your doors. You’d be surprised how much cash will pile up, even if you save just a little bit at a time.

The big thing, Kirsten, is don’t be afraid to start small. Don’t despise humble beginnings. Some of the best and most successful companies in America started as micro-businesses or cottage industries. I literally started my company on a card table in my living room. It’s easier and safer in a lot of ways. So, I love the wisdom you’re showing by wanting to keep your full-time job while starting the business online.

So, yeah. Take three or four months of expenses out of your emergency fund, and move it to a designated business account. Watch your budget carefully, and keep spending to a minimum. Above all, don’t take your business into debt. Grow it at the speed of cash. The best, most successful businesses don’t outrun their money and other resources!



Dave Ramsey

(Pexels Photo)...

Dave Ramsey

Dave says: Tell sister no to borrowing money for own sake

Even if it’s family, saying no and telling them it’s time to straighten up and start acting right could be the right money decision.

2 days ago

A landlord discovered his tenant had been using the property as a short-term rental. (Pexels photo)...

Dave Ramsey

Dave Ramsey says: Get identity theft protection and make your tenants stick to their agreements

Financial expert Dave Ramsey answers two financial questions from listeners. One wonders about Ramsey's opinion on identity theft protection.

9 days ago


KTAR Video

Video: Dave Ramsey financial tips heard on KTAR News 92.3

Hey Arizona, we’re all feeling it. We’re paying more for everything. We want to help you live a happy and debt free life. Join us on KTAR News weekdays from 12-2 p.m. for The Ramsey Show. For the latest breaking news, tune to KTAR News 92.3 FM or the KTAR News app.

13 days ago


KTAR Video

Video: Listen to Dave Ramsey on KTAR News 92.3 weekdays noon-2 p.m.

For news you can trust, count on KTAR News. Dave Ramsey knows you can stay up to date with your community. For the latest about YOUR life and money, you can catch The Ramsey Show weekdays 12-2 p.m. on KTAR News 92.3 FM or the KTAR News app.

13 days ago

Illustration of a house with hands above and below it....

Dave Ramsey

Dave says: Use rental property sale proceeds to pay off home, become debt-free

Dave says Anthony should use the proceeds from the sale of a rental property to pay off his home mortgage and become debt-free.

23 days ago

Feeling unmotivated despite financial success? Discover Dave's heartfelt advice on finding and livi...

Dave Ramsey

Dave says: Here’s some advice for a financially blessed couple

Feeling unmotivated despite financial success? Discover Dave's heartfelt advice on finding and living out God's purpose beyond wealth.

1 month ago

Sponsored Articles


Day & Night Air Conditioning, Heating and Plumbing

Beat the heat, ensure your AC unit is summer-ready

With temperatures starting to rise across the Valley, now is a great time to be sure your AC unit is ready to withstand the sweltering summer heat.



Here are 5 things Arizona residents need to know about their HVAC system

It's warming back up in the Valley, which means it's time to think about your air conditioning system's preparedness for summer.


Collins Comfort Masters

Here’s 1 way to ensure your family is drinking safe water

Water is maybe one of the most important resources in our lives, and especially if you have kids, you want them to have access to safe water.

Dave Ramsey says: Don’t be afraid to start small