Five Things Nurse Leaders Can Learn From Dave Ramsey

By Rose O. Sherman, Ed.D, RN, FAAN

Dave Ramsey is a nationally known author, speaker and broadcaster, whose work focuses on getting people out of financial debt. He has a loyal following of millions of Americans who rely on his advice. He is widely considered to be one of the most trusted voices on financial matters. I am a fan of Dave Ramsey and listen to his weekly podcasts. What I admire about him is not so much his content – which is excellent – but rather the way that he adeptly handles questions from people who have serious problems in their lives. I see significant parallels between the financial and the physical/psychological health aspects of one’s life. The following are five things that Ramsey consistently does on his broadcasts that are excellent practices for anyone in leadership:

1. Asks Clarifying Questions to Drill Down to the Root Cause of the Problem

On his radio show, Dave has only a short amount of time to drill down to the root of the caller’s problems. As an outcome of this, he has become a master at asking insightful questions that clarify the problem. As nurse leaders, it is very easy to lose focus in crucial conversations but staying on track and asking good questions is critical.

2. Does Not Shy Away from Confronting the Unpleasant

Dave Ramsey is the master of the crucial conversation. He recognizes that nothing will change if the “elephant” is left in the room and is not discussed. For many of his listeners what is holding them back from all they can be is themselves. He makes it clear that there is good news in this because if you’re the problem, you’re also the solution. He does not sugar coat challenging situations, and the listener is never confused about the message. Some listeners clearly don’t want to hear that they need to make a substantial life change but Dave does not back down from the message nor should nurse leaders if it is an important one.

3. Recognizes that a Sound Financial Footing is Key to a Healthier and Happier Life

Dave often points out to his listeners that when their finances improve, they will find a path to a happier and more joyful life. A number of years ago, I had a professional colleague who taught a nursing leadership course. As part of this course, she included several classes on managing your personal finances. The topics ranged from how to evaluate an employment package to buying a home, investing in stocks and managing your credit. She told me that she had observed that few of her students really had ever been educated about managing their own financial future. Most lived paycheck to paycheck despite often earning relatively good salaries. If nurses are to be fully empowered, she reasoned then they must learn to be more financially independent. I have always believed that she was very wise in her thinking. Sound financial footing is a key to a happier and healthier live. Too many of our nurses work more hours than they should living a lifestyle that they cannot afford. This is not only a safety issue but it also inevitably leads to stress and anxiety. Nurses who do a poor job of retirement planning and don’t regularly contribute to a 401K or a similar investment plan may continue to work long after they had planned to retire (unhappily and disengaged). Nurses who understand personal financial management are far more likely to understand the components involved in the business of healthcare.

4. Always Gives Hope

Dave looks for the nuggets of hope in every situation despite how challenging they may be. He tells people that he has confidence in their ability to change but there are no quick fixes in life. For some, they may be looking at many years of repaying back enormous debts but he is optimistic that it can be done. He also readily shares his own successes and failures. There are times that he gives away free subscriptions to his financial peace university when he senses the caller really needs a jump start and probably can’t afford it. When he does this, he tells them that he expects them to pay the gift forward.

5. Celebrates Achievements

Becoming debt free is quite an achievement. On each show, Dave features someone who has done it and earned the right to an “I am debt free” scream. Achievements matter and need to be celebrated – they make people feel good about what they have done and serve as good role modeling for others.

These five practices are important lessons in life and leadership.