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you could reverse that video take and say will Dave Ramsey every change his mind, couldn't you. Most people believe what they believe - end of discussion.
I live debt free.
however i use a credit card to pay for everything and get paid back hundreds of dollars every year for using the credit card.
how is using a credit card in this manner anything but smart?
use your critical thinking skill here.
Credit cards are only bad for stupid people (who don't pay off the balance each month). those stupid people are the reason credit card companies can afford to pay other customers (like me) hundreds for using their card. Their goal of course is to try to get me to overextend and buy things i cannot afford and therefore i end up paying big time for it. Except i am not buying things with the credit card that i do not already have the money for.
can you follow this
credit cards = bad for stupid people (who carry a balance)
credit cards = good for smart people (who pay off balance)
therefore you cannot say credit cards good or bad. It depends on how you plan to use them.
conclusion - don't use them stupidly
and/or learn to think for yourself and not just parrot the ideas of someone else.
Things get lost in translation. D. Ramsey was debating a 19 year old kid, Ramsey was not debating a university professor as you stated. Why lie Jamin? Instead of obtaining your economics & finance knowledge from tv and radio personalities, why don't you go back to school and study accounting or economics or finance?
you could reverse that video take and say will Dave Ramsey every change his mind, couldn't you. Most people believe what they believe - end of discussion.
I live debt free.
however i use a credit card to pay for everything and get paid back hundreds of dollars every year for using the credit card.
how is using a credit card in this manner anything but smart?
use your critical thinking skill here.
Credit cards are only bad for stupid people (who don't pay off the balance each month). those stupid people are the reason credit card companies can afford to pay other customers (like me) hundreds for using their card. Their goal of course is to try to get me to overextend and buy things i cannot afford and therefore i end up paying big time for it. Except i am not buying things with the credit card that i do not already have the money for.
can you follow this
credit cards = bad for stupid people (who carry a balance)
credit cards = good for smart people (who pay off balance)
therefore you cannot say credit cards good or bad. It depends on how you plan to use them.
conclusion - don't use them stupidly
and/or learn to think for yourself and not just parrot the ideas of someone else.
You typically spent a bit more when using a credit card. They are so easy to just swipe and not notice the actual amount. It hurts a bit more when you have to count out $20’s at grocery store. At electric company I worked for, people on budget billing option tended to use more kWh than those writing a check each month. When customers get comfortable with $100 budget bill amount, they lost focus on there electric consumption volume..
I'm just putting this out there, for anyone else who might be doing the same thing.
I've never had a credit card. The only loan I have ever taken out was for higher education--in that case there was no option and it seemed a good investment in any case.
I'm just putting this out there, for anyone else who might be doing the same thing.
I've never had a credit card. The only loan I have ever taken out was for higher education--in that case there was no option and it seemed a good investment in any case.
My life seems fine.
No judgements. Just putting it out there.
If you got through college on student loans, I assume your parents don't have a spare home to give you. Are you willing to incur debt in order to purchase a home?
I'm just putting this out there, for anyone else who might be doing the same thing.
I've never had a credit card. The only loan I have ever taken out was for higher education--in that case there was no option and it seemed a good investment in any case.
My life seems fine.
No judgements. Just putting it out there.
I'm curious how you pay for large ticket items. Banks have limits on how much cash can be withdrawn in a day, including debit cards. Even if there was no such limit it seems risky to me to purchase a high cost item - say a $4000 laptop online with a debit card, because once you make the purchase the money is gone. If the item arrives with a broken screen you have get the money back.
I don't know everything this guy says, but I tend to think as a rule his advice about paying your mortgage down, etc. is probably fine. A lot of people probably tell themselves "Ill make more in the market!" and never keep their money in long enough to do so.
This crusade against credit cards, is to me, strange. I got over $1000 in rewards last year using a credit card and saved a lot of time not going to the bank.
At some point you're being impractical and insulting your listeners ability to manage their finances. Swearing off credit cards is like swearing off tools because sometimes people who use them hurt themselves. Pay your credit card off, get the rewards, enjoy the convenience. Absolutely worth it, even if I "spend more because it's easy."
I'm just putting this out there, for anyone else who might be doing the same thing.
I've never had a credit card. The only loan I have ever taken out was for higher education--in that case there was no option and it seemed a good investment in any case.
My life seems fine.
No judgements. Just putting it out there.
I'm curious how you pay for large ticket items. Banks have limits on how much cash can be withdrawn in a day, including debit cards. Even if there was no such limit it seems risky to me to purchase a high cost item - say a $4000 laptop online with a debit card, because once you make the purchase the money is gone. If the item arrives with a broken screen you have get the money back.
Daily limit on debit card is a good point. I am guessing my daily limit on my debit cards are $2500, no more than $3000. Also, I do not know how auto rental companies and hotels get away with it, some fine print in banking laws allow some merchants to place holds on debit card far more than agreed upon transaction. If a person is strictly a debit card person, one will need to keep an extra $1500 to $2500 in checking account to deal with hotels and auto rental companies and unauthorized holds.
you could reverse that video take and say will Dave Ramsey every change his mind, couldn't you. Most people believe what they believe - end of discussion.
I live debt free.
however i use a credit card to pay for everything and get paid back hundreds of dollars every year for using the credit card.
how is using a credit card in this manner anything but smart?
use your critical thinking skill here.
Credit cards are only bad for stupid people (who don't pay off the balance each month). those stupid people are the reason credit card companies can afford to pay other customers (like me) hundreds for using their card. Their goal of course is to try to get me to overextend and buy things i cannot afford and therefore i end up paying big time for it. Except i am not buying things with the credit card that i do not already have the money for.
can you follow this
credit cards = bad for stupid people (who carry a balance)
credit cards = good for smart people (who pay off balance)
therefore you cannot say credit cards good or bad. It depends on how you plan to use them.
conclusion - don't use them stupidly
and/or learn to think for yourself and not just parrot the ideas of someone else.
You typically spent a bit more when using a credit card. They are so easy to just swipe and not notice the actual amount. It hurts a bit more when you have to count out $20’s at grocery store. At electric company I worked for, people on budget billing option tended to use more kWh than those writing a check each month. When customers get comfortable with $100 budget bill amount, they lost focus on there electric consumption volume..
Ummm, not too many people use cash at the store anymore. They use a debit card.
I'm curious how you pay for large ticket items. Banks have limits on how much cash can be withdrawn in a day, including debit cards. Even if there was no such limit it seems risky to me to purchase a high cost item - say a $4000 laptop online with a debit card, because once you make the purchase the money is gone. If the item arrives with a broken screen you have get the money back.
Daily limit on debit card is a good point. I am guessing my daily limit on my debit cards are $2500, no more than $3000. Also, I do not know how auto rental companies and hotels get away with it, some fine print in banking laws allow some merchants to place holds on debit card far more than agreed upon transaction. If a person is strictly a debit card person, one will need to keep an extra $1500 to $2500 in checking account to deal with hotels and auto rental companies and unauthorized holds.
It's more of an issue with rental car companies. They are not crazy about letting someone drive away in a $30K vehicle with no security deposit and $500 in their checking account.
Credit cards are only bad for stupid people (who don't pay off the balance each month). those stupid people are the reason credit card companies can afford to pay other customers (like me) hundreds for using their card. Their goal of course is to try to get me to overextend and buy things i cannot afford and therefore i end up paying big time for it. Except i am not buying things with the credit card that i do not already have the money for.
Just a point of clarification: The "credit card companies" (Visa/Mastercard) are (mostly) making their money by taking a cut of the transactions. The interest when you don't pay off your balance gets paid to the bank.
Liberals love being broke and running a line of credit on everything they can possibly purchase.
Keeping most people struggling to get by with money and forcing them to use credit is merely an aspect of the way the economic system was designed. A few wolves feast unapologetically while the others starve and are scattering for scraps.
Credit cards are only bad for stupid people (who don't pay off the balance each month). those stupid people are the reason credit card companies can afford to pay other customers (like me) hundreds for using their card. Their goal of course is to try to get me to overextend and buy things i cannot afford and therefore i end up paying big time for it. Except i am not buying things with the credit card that i do not already have the money for.
Just a point of clarification: The "credit card companies" (Visa/Mastercard) are (mostly) making their money by taking a cut of the transactions. The interest when you don't pay off your balance gets paid to the bank.
Visa is a credit card network not a credit card company/issuer. Its role is to facilite transactions and it charges a fee for this service. Banks (mostly) are credit card issuers and underwrite, what is essentially a loan. AmEx and Discover are both.
Ramsay has a stick up his butt with regard to credit cards. Yes, most people use them incorrectly and get into trouble, but if you are on top of your finances, credit cards are more than fine. They are convenient. They offer better protections than debit cards do, and you simply can not purchase some things without one.
He says that people will spend more if they use a credit card than if they use cash. Well, that might have been true when cash was so widely used, but we just don't use cash much anymore at all, and many younger people don't use cash almost ever.
He's just wrong on this. He's wrong on a lot of things actually including his very warped Christian views.
It's amazing that he's built the company that he has. Basically he says spend within your means and invest for retirement. Ok. Too bad that he's an a$$hole.
Daily limit on debit card is a good point. I am guessing my daily limit on my debit cards are $2500, no more than $3000. Also, I do not know how auto rental companies and hotels get away with it, some fine print in banking laws allow some merchants to place holds on debit card far more than agreed upon transaction. If a person is strictly a debit card person, one will need to keep an extra $1500 to $2500 in checking account to deal with hotels and auto rental companies and unauthorized holds.
It's more of an issue with rental car companies. They are not crazy about letting someone drive away in a $30K vehicle with no security deposit and $500 in their checking account.
What is an issue more with rental vehicles? I prefer using cash or debit cards. I check my checking account balances at least five days per week. I have a reason to be vigilant regarding debit card activity attached to my checking accounts. If a hotel needs a $750 deposit, tell me that. If an auto rental company needs a $750 deposit, tell me that. I am talking about doing a double transaction on my debit card without my authorization. I always get my money returned but on debit cards, it takes a week or two. Hotels and auto rental companies are less likely to play those games with a credit card is my point.