Dave Ramsey quote

[JB Books]

Credit is a tool. If you use it properly, it can ease your life. If you don't use it properly, it can screw your life up. I think the Ramsey plan has helped people, but really it's simple common sense. Don't spend more than you earn and minimize the or eliminate amount of interest you have to pay.

 

[dennishoddy]

Dave Ramsey says people don't get rich with reward points. I say people don't get rich by leaving free money on the table.

He is actually correct. You won't get rich with reward points, but the only credit card that I carry gives me air miles as a reward. My wife and I have been using the miles to take a vacation to far away places every year at little or no cost for transportation. Every thing we buy goes on the card, and is paid off in full every month.
We didn't need Dave Ramsey to explain how to live debt free.

 

[OKIE-CARBINE]

Where do you find said "tin" foil all I can fin is aluminum and I feel that is not protective enough,

probably from them prepper stores or survivalist places.

have you tried reynolds heavy duty foil? maybe a double layer of it will get you by.

 

[KOPBET]

Where do you find said "tin" foil all I can fin is aluminum and I feel that is not protective enough,

Protective enough for what?

 

[KOPBET]

I carry a few personal credit cards, but I spend with them just like they're debit cards. That way nobody gets to steal all the money out of my account. Card fraud happens all the time, with credit cards it's the bank's money getting stolen, with a debit card you usually have a lot more work to do to get YOUR money back and take care of all the bounced payments that occur in the mean time.

If you have the discipline to budget and pay the bills in full and on time, reward credit cards are great. Case in point- I bought a used van at auction, paid $8100 on my credit card, and earned $162 in rewards. Then I earned an additional $40.50 in interest ($32.40 after taxes), since the bill didn't come due until almost two months later.

Dave Ramsey says people don't get rich with reward points. I say people don't get rich by leaving free money on the table.

^^^This. I pay for nearly everything with a CC.

I disagree with Ramsey on the debit cards. DCs are the devil, party for the reasons dwk listed. Don't use them on the Internet for sure.

 

[Jefpainthorse]

can't argue with the priciples of the Ramsey program. Too bad kid's have not learned what he pitches from their folks the last 40 years of so.

to hear my dad ...the Great Depression did not end in our parts until about 1976....

 

[vvvvvvv]

Last night in an interview I heard Dave Ramsey say he only carries 4 pieces of plastic in his wallet. His DL, Debit card for personal, debit card for business and a handgun permit. Something tells me he likes his money and wants to keep it his money.

A while back when someone (a Tulsa dealer?) posted 1911's at cost for one day only, I sent a message on Twitter. Here's his response.

 

[vvvvvvv]

Credit is a tool. If you use it properly, it can ease your life. If you don't use it properly, it can screw your life up. I think the Ramsey plan has helped people, but really it's simple common sense. Don't spend more than you earn and minimize the or eliminate amount of interest you have to pay.

This.

Interest rate lower than inflation? You're coming out ahead in the end. No interest for 12 months, but you have budgeted two months to pay it, and you would have bought it in two months anyway but really needed it right then? What's the loss?

I listen for two reasons. Sometimes, people come up with situations that require situational brain power to solve and its an educational experience. Other times, people mention that they took out a second mortgage for their public high school student's flute and flute lessons hoping they'd go to school on music scholarship (which didn't happen) and become a professional musician.

 

[PistolPackin'Honey]

I'm a Dave Ramsey fan. I don't need the temptation that a credit card offers me. I don't have a lot of patience. I've never been one to "delay satisfaction". And in doing that, I would spend till its gone, every time. Countless times, I've stood in the Walmart checkout lane praying my debit card would go through. I've felt the embarrassment when the checker told me that my card was declined. When the utility bills would come in the mail, I was afraid to open them. I knew I couldn't afford to pay them. They were never paid on time.
When emergencies arose, there was always a crisis....and a phone call to my mom.
I never want to feel that way again. We made the change.

Now that I'm not living the "paycheck to paycheck funk", if I want something, there's a process I go through. I do my homework on it. I go online and look up details, read reviews & I do price comparisons. I do my best to make sure I am making an informed decision. THEN: I save up till I can buy it outright.
This way there is no wolf at the door, by way of a credit card bill. Im not afraid of the monthly utility bills. And there's money in savings for unplanned expenses, so what used to be an emergency...just isn't anymore.

 

[Mach1soldier]

I have read and seen alot of Dave's stuff. He works alot with behavioural finance issues. IE, making things emotionally motivating to keep doing them. Debt snowfall is awesome for that. You save more by paying off high interest first but keeping motivation up is hard. Credit cards have rewards points but you can overspend.

In the long run, he is right for 99% of people I imagine but I manage my finances just fine with credit cards. I applauded my old boss but he was a cash only guy that followed dave ramsey and it drove me nuts. The dude made 125k a year but couldn't buy a ten dollar car part without thinking about it for two weeks. Give me a flipping break man. I don't want to die rich and never lived but I don't want to be poor either. There is a balance in life for sure.

I'm digging that he is a gun fan though!