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Today we recognize a day that became a turning point in personal finance history: the day Dave and Sharon Ramsey filed bankruptcy.

The story Dave Ramsey tells is one of making lots of money after college, borrowing even more money, and losing it all in a short period of time.  They were sued and foreclosed on and almost lost their marriage to the stress of it all.  They fought to pay everything back or work out agreements to settle the debts.

On September 23rd, 1988 they had enough and filed for bankruptcy protection. Dave was so mad at the situation that he swore to never borrow money again and sought to find out how money really works.  He studied Larry Burkett’s teachings, spoke to millionaires, and learned what the Bible had to say about money.

What doesn’t kill you makes you stronger.  I thank Dave and Sharon Ramsey for having the strength to fight through the pain.  I thank God for giving them the character to share their failings with others.

I certainly would rather learn from his mistakes than having to go through it on my own.

This is pretty funny.  Lance Cashion, an insurance agent, blogger and great production DJ, received some audio from one of Dave Ramsey’s company meetings.  Lance couldn’t leave it alone and created this mash-up.  Enjoy:

http://soundcloud.com/lancecashion/dave-ramsey-vs-run-dmc-enemies-of-unity-lances-mass-destruction-rmx

PS – Listen to his “Drums In Space”, it’s very good!

To follow him on Twitter: http://twitter.com/lancecashion

or his blog: http://lancecashion.typepad.com/my-blog/