that matter pointed out throughout the book, you could opposite dave ramsey. as a sum total, media stars giving us financial advice really are hurting us more than helping us. why? >> guest: well, you know, i always say, you know, for the past several years, we feel like we lived through the economic equivalent of hurricane sandy. what the people are doing is saying, hey, put up a few sandbags. here's an umbrella. do as i say. you'll be fine. better, they are selling you the umbrellas and sandbags they say are going to make you fine. >> host: any examples? >> guest: susie orman had a news letter with a small mutual fund adviser who was getting amazing results. one of the reasons they got the results was because he had a typographical error and misstated return numbers of the indexes. it's a lot easier to get, you know, great results when you do that. she was doing that, and dave ramsey told meme to this day to expect 11% returns in the market, and to be fair, they could get that in 2012, but that was one year. that's not a number people have ever gotten at any

dave ramsey.ise isn't that democrats insist the middle class avoided higher taxes, the surprise is the media keeps letting enemy they keep doing so, don't they? >> neil: something is wrong. i wasn't hearing you. we're going to get into this a little bit more as we fix our -- hopefully fix her mic. the problem right now is you don't even know that this problem exists. the way it's been portrayed. when we come back, watch out, richard, because right now, you've got company. >> love you more than fried chicken. [applause] .. >> neil: back to katy who is mike wag controlled by the mainstream media. how the media tends to ignore the things going on in washington, namely, the middle class is getting off scot-free of the tax hikes when now they know otherwise. what do you think of that? >> right. the white house sent an e-mail yesterday to reporters saying, thank you for helping us not getting taxes raised on the middle class through our my 2k program. a twitter hash tag they used for people to say what

joining me now, personal finance expert guru, dave ramsey. n. >> gretchen: i think this is such a fantastic idea, to give people a checklist because many times people are in denial about the fact they're going to leave at some point in life. but also it's important to organize it all so somebody can find it when you're gone. so you say keep a legacy drawer starting with step by step instructions. what else? >> absolutely. because after 20 years of financial coaching, we've done detailed research and the human race has 100% death rate. you're going to leave at some point. so you've got to put together a game plan because you're going to leave a wife, husband, kids, people confused in the midst of their grief. it's the worst kind of stress. you can do away with that by having a drawer in your home and put all the stuff in it. we kind of all know what the stuff is. you got to have a will, your living will, which is the unplug or not to unplug document, and your organ don'ter and do not resuscitate stuff is in there, your power of attorney, so if

joining us now from nashville is dave ramsey. s are turning around or is this just a regional turn around? >> well, all real estate is like politics, it's always regional it's always local. so we've had some markets that weren't hit nearly as hard by the recession and they've come back. some of them almost roaring back. we've got other areas of the country, and particular cities that are really still struggling. you just got to look around you in your particular area across the nation to figure out what's going on. >> brian: take some out of why you are house to pay down your bills? >> no, we don't refinance a house in order to pull off and pay for a steak that you ate last week and put on your mastercard. that's bad idea. you need work your bills through using the debt snowball we teach. >> brian: go over some tips. mortgage should be no more than 25% of your take home pay. if you're taking one up. figure that out. if payments are between 40 and 50%, it's time to unload that house. even if it's at a loss? >> yeah. when your house

lance armstrong how we couhe cot in trouble with eric holder, dave ramsey steve holder all coming up on fox and friends. fo. [ jack ] what's for breakfast? um... try the number one! yeah, this is pretty good. [ male announcer ] over a third of a day's fiber. fiber one. [ male announcer ] over a third of a day's fiber. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. >> 10 minutes until the top of the hour. it is a catwalk cat fight. a french model being sued by her long time modeling agency for more than $3 million after leaving to go to a rival. maryland model management says she signed an exclusive contract through 2014. the attorney says the former agency gave bad advice. >>>

dave ramsey says go for the cash. dave, this is new.t -- everytime you swipe they can nail you for 4%? >> yeah. isn't that neat? the merchant fees are going to be passed on directly to the consumer. not even in the cost of the product. this this comes from a settlement from a huge lawsuit that has been going on for many years, where visa used to be able to say you can't charge a different price if you take visa than if you pay cash, and now they can. they have to post signs in the store if they're going to do this, so you can at least know you're being charged more for using your credit card. >> you said something, they weren't allowed to charge more price for the product -- higher for using credit card. don't they do that at gas stations? >> well, they've been doing it, and this lawsuit has been -- that's one of the things that brought it up. and wal-mart, the big chains came out against, and it was a clash of the titans between the big retail federation people and the whole visa/mastercard network. so they have been messing with this

dave ramsey is cutting up his credit card and he's got a pair of scissors with your name on it.estion of the day. born on this day in 1964, this actress is best known for playing libya benson. who is she in be first with the correct answer and you'll get a big hug a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly sever months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car paymets? aflac. what about ga and groceries? aflac. cell phone? aflac, but i doubte'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the lac duck a get-well card

she is highly critical of some of the most famous advice givers like sueie or man or dave ramsey or jeanwhen we can't manage our money. they often use math that's just wrong and i think most glaring she accuses them of engaging in dubious sometimes deceitful practices to sell their books and other products. >> what about advisors, what should we know about them? >> we talked about this before. olin underscores that the advice business is rife with conflict. avoid commission based brokers, advisors and insurance salesmen. turn to an independent advisor who is required to put your interests first. she says we should steer clear of the free lunch or dinner seminars sponsored by investment or insurance companies. you know, you might get a good meal but she says you are going to pay for it in the end. and women, take note, according to olin, financial firms are targeting us. they say that we are easy marks. i don't think so. no. no. no. >> i don't think so either, jill. >> reporter: i don't think so. you can see my full interview with helene olin on moneywatch.com and we'll give you all the i

dave ramsey says it takes five easy steps and he's joining us right now.ppy new year. >> juliet: thank you. you, too. first of all, here is your first suggestion. get $1,000 in the bank fast. easy for some people to say. it's tough o do that. but explain how you can do that. >> you do a lot of things. off garage sale. you look around things you can put things on craigslist. you sell so much stuff the kids think they're next. you take an extra job. you get on a written plan. most people can do it fairly quickly, about a month, month and a half for most folks and that's baby step one. >> juliet: baby step two, i would imagine would be having a written budget? >> well, it's the game plan that guides all of the baby steps for sure. and if you don't know where you're going, you're never going to get there. that includes your new year's resolution. my wife and i sat down yesterday, we did not do resolutions. we did goals. if they're not in writing, they will never happen. the same is true with money. >> juliet: you're really good at the psychological aspect of e

dave ramsey joins us now with some tips how you can adjust your savings plan to fit any stage of lifepy new year, dave. >> happy new year, guys. >> gretchen: so let's break it down between single and married folks. single person starting out, how should they invest their money? >> i think the thick thing we need to keep in mind for everyone is you have to have a long-term perspective and you need to keep it really simple. with a single person just starting out, once they're out of debt and they're debt free, everything but the house, they have the emergency fund of three to six months of expenses set aside, then we tell them to start putting 15% of their income into good growth stock mutual funds inside of retirement. best thing to do is take advantage of a 401(k) if your employer matches and then do a roth. if you don't have a match, the roth ir a is the best place to start. if you're single, have somebody you're accountable to that you can talk to about this and this is not your shopping buddy. this is somebody who is doing well with money, that will kind of be an older advisor for