Dave Ramsey quote

[Shankel65]

Thinking about buying a 10 dollar car part for two weeks isnt what Dave's plan teaches you. I get the point that youre trying to make though. If you play with snakes (credit cards) long enough you WILL get bitten. Are you really making enough money off of them to deal with the risk is the question you must ask yourself.

 

[Shankel65]

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.

You didnt list the amount for the intrest you paid on the CC purchase? That cancels some of the intrest you earned. Was it a 0% card?

 

[PistolPackin'Honey]

Small purchases are not so thought out. The ones I do my homework on are $200 +.

I am looking forward to the gun show and maybe a new carry gun this weekend.

 

[n423]

A Dave Ramsey fan here. Most of the stuff he teaches was the same as my Grandmothers .


BTW... we pay off credit cards every month and no annual fees or interest paid here. Save on!!

 

[h8ns8n]

huge Dave Ramsey fan here....actually taught the courses at our church. His program taught me how to turn my finances around and because of Dave Ramsey.......................I have more "gun money"!!!!!!

 

[dwkennedy]

You didnt list the amount for the intrest you paid on the CC purchase? That cancels some of the intrest you earned. Was it a 0% card?

There is no interest on credit cards if you pay them in full by the payment due date. If you buy something on the card right after the statement closing date, you have a month before the next closing date before it shows up on your bill. Then you have almost another month before the bill is due. I have it withdrawn from my checking account on the last possible day. This is called "credit card float" and it makes me a fair amount of money.

My old beater started having transmission problems a week before the GSA auction in OKC, which just happened to be right after the statement closing date for my card. And GSA takes credit cards with no extra fee. Lucky me, to have such good timing!

I have auto-pay set up on my credit card, so I always pay the full balance, no forgetting allowed.

Even if I needed to take out a 1.99% loan to buy a car, I would filter it through the credit card just to collect the free money.

The "lay down with snakes, you're eventually going to get bit" is like saying "own guns, and you'll eventually shoot your eye out". I've never been late on a bill in my life, I think that's the adult CHOICE to make, not some random event that you luck into. A little discipline goes a long way.

You can be assured that if I did not have money in the bank to pay the bill, I wouldn't be making the charges either!