It's not often that one hears Dave Ramsey quote from a "Star Wars" movie when offering personal finance advice.
But when he does, it's probably worth paying attention — particularly when the radio host is talking about the largest financial commitment many people have.
Related: Another company files for bankruptcy and Dave Ramsey has words
Getting the money together to pay for rent or a mortgage every month can be a challenge for many people.
Affording the roof over your head involves juggling other finances to free up the cash flow for that one big payment every four weeks.
And it's this budgeting exercise that the personal finance personality addressed with someone who recently asked for his help.
"Dear Dave," wrote an advice-seeker named Lindley, according to an email sent to TheStreet from Ramsey Solutions. "I'm trying to work my way out of debt, but it seems like something always happens to stall things or knock me backwards. I make $55,000 a year, I'm single and I have $15,000 in debt, along with a mortgage payment of $1,224 a month."
"I've been trying to live on a budget, but I'm still not sure where all my money goes," Lindley continued. "Can you help?"
Ramsey discusses mortgage payments and budgets
The bestselling author expressed some understanding of the difficulties being explained and then talked about dealing with finances in a practical way.
"I know living on a budget can be hard at first," Ramsey wrote. "And honestly, it usually takes folks who are new to doing it about three or four months of practice before they start getting it right and seeing the results."
Ramsey offered his advice on how large he recommends a mortgage payment should be relative to one's income.
"For starters, your house payment is a little heavy for someone making $55,000 a year," he wrote. "I generally recommend keeping your mortgage or rent payment at about 25% of your take-home pay. Sometimes you can slide by paying a little more, but in those cases, you'd really have to be on top of your finances."
"So, the biggest thing you can do right now is take control of your money, instead of letting it — or a lack of it — control you," he added. "And the best way to make all this happen is by consistently living on a realistic, written monthly budget."
Shutterstock
Ramsey quotes from 'The Empire Strikes Back'
Ramsey further explained his thoughts about the benefits of sticking to a budget.
"Once you start doing this, you've taken your first big step toward having a real game plan for your money," he wrote. "At that point, the idea of trying to live on a budget ends, and the fact that you are living on a budget, and telling your money what to do — instead of a lack of it dictating what you can do — becomes more of a reality."
Then Ramsey referenced a movie from the "Star Wars" franchise.
"Remember the 'Star Wars' movie 'The Empire Strikes Back?'" he asked. "At one point during Luke’s training, Yoda tells him, 'Do, or do not. There is no try.' In a larger sense, Yoda is urging Luke to focus and work harder, instead of continuing with half-hearted attempts and giving up easily. If you want to accomplish a difficult task, Lindley, you have to throw yourself into it completely. You must fully commit, and stop making excuses. You have to focus, and fight to make it happen."
Ramsey ended his comments with some words of encouragement.
"It's no fun waking up broke at the end of every pay period. We both know this," he wrote. "So, put your head down and get your mind in gear. Make. This. Happen."
"You can do it!"
Related: Veteran fund manager picks favorite stocks for 2024
