With all respect...you are not getting her point..when you read or listen to a speach its important to understand the context...in this case her reason is that you are going to spend MORE which leads to going off budget...which leads to going broke...another thing she is saying is that it is not a fair game when it comes to points you are gaining "miles" from other broke people which means you are keeping other people broke. Sorry for my grammer I am mexican my native language is spanish and our culture uses cash we live day by day so it blends in very good with dave ramsey.
I was actually going to place an order for my daughter from the children’s place. I am a petite person anyways so I checked my stash I had exactly what I was about to order! So I just moved it over to her room and saved about $15!!!
Absolutely agree with if you keep using credit cards, it will always shackle you to debt. Avoid using credit cards if possible. Just think about a life with no debt. Great tips!
Rachel....After what you mentioned about not needing a credit score for mortgages, can you PLEASE do a video on getting loans without credit score: not just mortgages, but loans for buying car or even a business location (a brick and mortar)?
The biggest reason people are broke is mindset. People want to stay with the trends and what other people are doing. If you are responsible with anything you can stay on budget and save for the future.
I have 1 business credit card & I pay it off every month. I get cash back & I never thought about the cash back they give me is on the backs of those who don't pay their bill in full every month. Why should we feel bad for doing what is right? I have no control over other people & how they spend their money so why should I feel bad?
This channel is a life saver. I am a single 35 year old man who is still living at home with his parents because with the price of housing where it is at I refuse to pay that kind of money. I rather have that kind of money in a savings account until I am able to afford a house I can pay for with cash. In the meantime I consider a family and a home of my own a luxury that I cannot afford because I refuse to go into debt.
Love the train of thought, just be careful with it. I have a friend that acts and thinks the same way. Refuses to go into debt. He's now 66, still lives with his mom, never married and never bought a house. The strange thing is, he still talks about finding the perfect house, and the "right women", like he's still 35. Good luck to you.
Right. As they say, it loses value right as you drive it off the lot. Buy used when possible. However personally being extremely conscious of germs, I will never buy used clothing or even furniture unless I know who owned it before. May be more expensive but I do not want to owned anything used by strange people and spend time cleaning it. Same goes to appliances. Would rather save and buy new but within average price, I don't like the expensive trends people always go for. I prefer more normal, standard things. I would rather have peace of mind as well even though Ill have to save for longer - good quality items for long term ownership.
Thank you for mentioning Gambling. I am so against gambling I would not even let my kids throw change in fountains! They at first didn’t understand, until they emptied their piggy banks and saw how much those loose coins added up to. Never gamble!
No no no. You’ve got it all wrong. If it’s not 100% in step with Papa Dave, then you’re completely in bed with the evil banks and love being eyeballs deep in debt. (Sarcasm)
I do have 1 credit card, but I don't use it, only to book hotels or rent a car. I've been to alot of hotels that won't accept debit, credit card only. I've been in credit card debt in the past, never again..
The Gambling point you mentioned. If you’re lucky it can help. My wife has a limit of £20 a month for online gaming and she won a jackpot of £38K a few months back. It has changed our life as we used it to clear debt and paid off the credit cards and paid off my car finance so now own my vehicle outright and we are now debt free. I know for the majority of people gambling is not ideal and people can become addicted to it but on this rare occasion it really helped us.
Stay out of the malls. Remove your favorite shopping apps..Amazon etc. Create a monthly budget, don't use credit cards. Write down ALL YOUR DEBT. Be honest with yourself. Live below your means.
Rachel I currently live in a motel all utilities included with house keeping its 2000 a month but in New Jersey a one bedroom apartment is 1900 a month without anything just the rent alone please what are we supposed to do
The irony of this video is that , she is giving us tips on how be better with money, and then.... she sponsor a clothing company and tell us to go and check the deals.... and for sure they accept credit cards and they dont care about it! 😂
Then you try 18 times to unsubscribe to their constant emails & no matter how many times you change your email preferences- they continue to send you emails! 🤦♀️
Don't impulse buy...we really only buy things we need...why is that hard to do? If you have a good income and live on less than you make at all times you will do well in the long run.
Here in UK we have section 75. Basically if you spend even a pound of a purchase between £100 and £30k the credit card is mutually responsible for any issues with the product or service you purchased. Debit cards don't have same legal obligations.
All the studies about credit card usage look at large populations/groups. Absolutely none of them have a separate group that budget their finances & control their spending and look specifically at cash vs credit card purchases within that group. Besides, if you already follow the Ramsey fundamentals of living below your means & budgeting your spending, you are already doing better than these studies’ conclusions.
One of the business's I own, I run all debt transactions through a business 3% cash back credit back. Then pay it off every month. BOA pays $12k year in cash back on this card alone.......
Yeah these people still think it's 1990 when you could get a 3 bed for only $750/mo on avg Expect to pay upwards of 60% take home pay just on rent when you're starting out
My first question for anyone who says they're having money issues is "how's your budget?" and then I get to tell them how much that helps, because you make a plan for your money, instead of just trying to figure it out as you go.
I knew someone who always bought lotto tickets, she continually refinanced her house as often as possible… she would run out of money and then ask family members for help.
I just got a free trip to Europe by signing up for a credit card and spending money that I already was going to. ZERO interest because I paid off right away. Why I don't like debit card? Last time got stolen and my account was in negative for days until the bank resolved the issue. With credit card, just order a new card and my life continue like normal.
Fico score is clearly a racket. As I was paying off my debt below 1% Experian penalized me for doing what was right for me. They reduced my score which solidified what Dave Ramsey has preached.
Yeah- But with card fraud as easy as it is... one thing I've learned is, it easier to not pay the credit card company than it is to get your money back from the bank. The credit card company will just write it off. When a fraudster clears out yoyr bank, it can take weeks/months to get your money back.
I'm confused. My son went to rent an apartment and has no debt or credit card so doesn't have a credit score. was willing to pay 6 months in advance and nobody would rent to him.
Looking for advice in comments, go it at! Got myself into a house prior to watching Dave Ramsey/ Rachel. Debt free but mortgage is 48% of take home, with consistent overtime 35-38%. Debt free besides this, In 5 years with pay increase mortgage will be 35% prior to overtime. In 10 years mortgage 28% no overtime. Thoughts on my decision? Stay and work hard or get out of the house?
thing i hate about EveryDollar app is first transaction date are wrong cause it takes almost to 2 days to show on app second left to budget even though you are over budget this month in red still says left to budget on the top need to fix that that’s why I love mint all automatic without any issue shows transaction right away soon as I swipe my card ..
The idea that one is taking advantage of those who are not capable of managing the credit card is not that valid. My mechanic takes advantage of my not being capable of working on cars.
Love your videos, and my wife and I have accomplished baby steps 1-4 on SS and Pt jobs! We live within our means and the debt we had was from CA Mandated Affordable Care Act Penalties. Since we 've always lived frugally we were able to get through it. Our combined gross income is $3,000, 25% of that is $750, there is no place in CA and now we live in Texas, where rent is that low. Currently our rent is 42% of our take home pay, and we live in one of the most affordable complex's in our city. With rents on the low end being ($1500 average) $1200 to $1300 for a studio- 1 bedroom. Is the 25% ratio realisitic in this escalating rent/mortgage climate?
Like Rachel said…. Try these ways for 90 days. If her way doesn’t work, no one is stopping us from going back. Also, if rent is 42%, and that can’t be decreased, then really the only option is to increase your income.
Being a renter, you will absolutely lose in the long run, because rents go up every year (sometimes every six months) while your income does not. You cannot.possibly keep up. If you can find a way to buy something you'll be better off. If you can't, you're going to be living the "nomadland" life sooner or later.
And here's another video from Rachel that is really like to watch but the changing of the camera angle every 5/10 seconds is easy too much and very distracting, please stop doing that or at least only change it like every 30/60 seconds
@@15KHPCLUB Sure it is the same thing. If someone sells their house to pay off debt ( sometimes on the show ) another person picks up the property on the cheap. That is what Graham Stephan does.
@@stevenporter863 I see, so your logic is that using a credit card to get items cheaper or free is bad because it's at the expense of someone who is getting skinned alive by their credit card company, but lowballing a homeowner facing foreclosure to turn a profit is okay? 🤔 Isn't that right Steve?
@@15KHPCLUB No. That's the video's stance, I was simply pointing out the inconsistency. They buy properties from distressed owners and like real estate for that reason but don't like credit cards for the exact same reason. Watch the video. 🤷 1:40
The fact that she started the list with the use of credit cards in general, instead of listing it as the "irresponsable use of credit cards" made me not want to keep listening to her. Financially smart people will preach how to use a credit card responsibly. People that only talk about the "evil" credit cards are honestly not really financially mature to me. That and what was already mentionned in another comment, she's talking about what is keeping us broke and then proceeds to blast us with ads from a clothes and accessories store??? Woman...!! That's sooo wrong!!
I used cc and paid it off every month, for 20 years. Then I realized, I’m always a month behind in my expenses. So if emergency or job loss occurs, I’m even more in the hole. Stopped years ago, and I don’t have any cc now. Lots of people love to argue they are “smart” with cc. Okay.
@@catherinewilke5583 oh see, I have a months worth of expenses on my main account, which I use to pay the cc (i never spend more than what I got there). I also have 8 months worth of expenses saved on my emergency fund in case i happen to lose my job or have an emergency. Lots of people love to think cc people will always be behind :)
I may be wrong, but I think it depends on your bank's policies. Debit cards and credit cards can both be stolen, I think it just comes down to who ends up paying for it all in the end.
No When you use a credit card, the money hasn't left your account and you're not responsible for unauthorized purchases If your debit card is stolen, your entire savings can be wiped out and it's much harder to dispute
I would love if you guys can do a video on this because we r living in perilous times no one not even David Ramsey has seen … u honor him so much he’s changing lives my life but let’s not ignore the elephant in the room I pray for wisdom on this subject for me and you and everyone for Gods glory in Jesus name but please pray about speaking on this subject if it’s been in my spirit all Yeah I’m Sure I’m not the only one
The Ramsey Group loves to use those lines And it's so annoying and insufferable As if Dave doesn't own several rental properties that were once someone else's home they had to leave in sadness and despair That man is making millions because people couldn't afford their homes anymore
Cash is expected to be obsolete in the future so use it while you can. When you become homeless from the high cost of living and job insecurity then you will save on house payments and rent too. Jesus Saves ❤
What a funny way to look at free miles being given because somebody else lost money. Isn't that the same thing with investing I the stock market? You're betting on some companies to lose. Yet you teach that is ok.
Ive also heard all of your bs about credit cards. Its one of the reasons why i see you as entertainment and not educational. Because your simply wrong. Most of the concerns you have can be fixed with one change. Plug the thing into your budget. If you cannot handle a credit card in that manor then theres absolutely no way youll be successful with Ramseys plan because its hinged entirely on your ability to budget. Adding a credit card into the mix doesn't make budgeting harder. If you fail with it. You will absolutely fail without it. A method of payment doesn't change budgeting practices. There is absolutely no difference. Saying otherwise is a flat out lie. Now im not advocating for you all to get one. I don't care. But continuing to lie about this bs. Is reprehensible.
Credit cards really aren't a big deal, an don't lie Rachel I bet you have a couple credit cards yourself an Dave also... you guys need to stop lying it's annoying
