I Can't Let Go of My Credit Cards Because of the Rewards!

Подписаться 3,4 млн

Просмотров 75 тыс.

50% 1

I Can't Let Go of My Credit Cards Because of the Rewards!
Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3hc6Pgt
Visit the Dave Ramsey store today for resources to help you take control of your money! goo.gl/gEv6Tj
The new Borrowed Future uncovers the dark side of the student loan industry and exposes how the system is built to work against you.
Watch Now: bit.ly/3j9FOLl
Did you miss the latest Ramsey Show episode? Don’t worry-we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: www.youtube.co...
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
www.youtube.co...
• The Ramsey Show (Full Episodes): www.youtube.co...
• The Dr. John Delony Show: www.youtube.co...
• The Rachel Cruze Show: www.youtube.co...
• The Ken Coleman Show: www.youtube.co...
• The Christy Wright Show: www.youtube.co...
• EntreLeadership: www.youtube.co...

Опубликовано:

30 сен 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 485

@TheRamseyShow 2 года назад

Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3hc6Pgt

@EliteQuarTips 2 года назад

I bet you don’t believe in good debt either LOL

@nelvarita1644 2 года назад

@@EliteQuarTips &

@superslyko123 2 года назад

When I was a beginner, I took everything Dave said as gospel. Now that I have some maturity & common sense, I can pick & choose!

@TheRealAbrahamLincoln 2 года назад

Yup, he is spot on with many topics, some he is off in left field.

@candymanAM 2 года назад

He's the finnacial advisor for degenerates. Once you've crawled out of the hole you move on to bigger and better things but he does help alot of broke people stop being broke.

@Sam-dc9bg 2 года назад

@@candymanAM This. Better to follow his words than to be one of the many Americans that are in debt for life because they won't listen. When you are in the hole and addicted, you need to be treated as a patient.

@Billman8686 2 года назад

Alot of pride in here. Dave teaches from broke to wealth and knows human behavior. But yes keep saying how smart you have become!

@msfitbrown48 2 года назад

@@Sam-dc9bg this!🎯🎯🎯🎯🎯🎯

@koreypaul6698 2 года назад

Dave will ride this till his grave lol

@theraddadinvestor1000 2 года назад

He can't admit when he is wrong!

@ramshambo2001 2 года назад

lol yep, his ignorance on the topic is laughable

@jamesf8783 Год назад

And y'all haters will keep wasting your energy hating on him lol

@nrut1174 2 года назад

I feel like they are dodging the question. Mentions how cards don't have the same effect as cash when he encourages debit card use. Points aren't for a source of income it's a bonus at the end of the year to take a trip or get gift cards or even just pay off your purchases.

@charlestaylor4009 2 года назад

They are avoiding the true essence of the question

@sbentsen2714 2 года назад

True. I just collected my rewards that is paying for my next tattoo 👌🏼😄

@stevenashwood1090 2 года назад

Yes but how many people pay off on time? I don’t know if anyone. I even forget sometimes and I have the money to pay it off. So your losing out

@jlogan2228 2 года назад

@@stevenashwood1090 people keep saying that but ....who cares....if YOU are being responsible it doesnt matter what another persons doing

@aorusaki 2 года назад

But you may spend more than what you actually need/want just to get more "rewards points"

@WhatDaBidnessIsCuh 2 года назад

“DONT USE PLASTIC!” “I use a debit card” Hate their argument on this topic

@666dynomax 2 года назад

dave had to update slightly from his "cash" only... not a LOT of difference in the "emotion" of the CC vs debit card ...

@theraddadinvestor1000 2 года назад

Hahahahaha

@ramshambo2001 2 года назад

yeah, he really off on this, needs an update or work on helping people manage using currency in the 21st century. Avoiding it completely is not a real solution.

@tcgtpl 2 года назад

How many of these studies include subgroups that actually budget their expenses? Answer: None. Therefore, this straw man argument fails.

@jdtreharne 2 года назад

That's not a straw man

@WhoDeanyUnchained 2 года назад

Dave: "Don't use plastic!" Me: "No problem, my cards are metal"😎

@theraddadinvestor1000 2 года назад

Lol

@achavez78 2 года назад

Same here.... All my cards metal. I cant be seen using a plastic card like a regular normie

@aedendchau 2 года назад

This made my day. 🤣

@RoxiieSays 2 года назад

Lol same!

@achavez78 2 года назад

@WhoDeany what metal cards you got in your roster?

@BruceWayne-m6g 2 года назад

Literally have made over $10k in cash back and have paid exactly $0 interest. I have to disagree with this.

@RealGalaxyGamers 2 года назад

You missed the whole “you pay more”part. Dave’s whole point.

@metaltera86 2 года назад

@@RealGalaxyGamers How do you pay more if you spend the same amount if you were to use a debit card?

@jdtreharne 2 года назад

And it only cost you what? Half a mil?

@rayjgold 2 года назад

I agree, I was against Ccards for many years......but then a got an offer to get 300 for using this card and spending a certain amount a month.....so I just did it, since I paid that amount with my debit card a month anyway......I got the 300, plus thousands in cash reward after that.....paying no interest. Sometimes I feel bad that they bank is giving me all this money and I dont give them anything.... But I definitely feel bad for not starting to use a rewards card sooner.

@om617yota8 2 года назад

Girlfriend has a Costco card, which she uses as her debit card. Never carries a balance, never pays interest, only buys what she has cash for. $1200/yr in rewards, just for buying what she was going to buy already.

@shane123car 2 года назад

Not much I disagree with Dave on , this is one. Made $2500 on my cards cash back this year.

@scarpfish 2 года назад

No you didn't. How much did you spend to get that $2500? Was it all spent on stuff you absolutely needed and budgeted for?

@avapilsen 2 года назад

@@scarpfish My brother owns a business. I told him to max out one of my cards by putting his typical business expenses on it. He payed it off by the end of the month, somewhat treating it like a debit card because he already had the money saved. I put $250 in my pocket without spending a dime, nor my brother. What does that mean? I just saved $250 on a flight ticket!

@metaltera86 2 года назад

@@scarpfish Lol it could have been gas, groceries, utilities, even the mortgage. But guess what it could have even been things he didn’t account for like eating out, Black Friday shopping, etc... stuff he would have bought anyways no matter what form of payment was used!!!

@raully3277 2 года назад

I’m about to get $500 cash back from my CC. I have literally never paid interest on my cards. Am I going to become a millionaire off my cash back? No. Is it nice to have the extra money during the holidays? Yes.

@ArntArnesen 6 месяцев назад

How many useless items have you bought to get your 500 dollars rewards? A LOT more than you would have done with cash.

@SlippinJimmy007 5 месяцев назад

@@ArntArnesenif you’re on a strict budget which (which Dave recommends) you’re paying the same every month nomatter if you use debit or credit. Except credit gives rewards.

@mdees88 4 месяца назад

@user-ct1kh2if8j That's not always the case. I quit using my debit card and I buy everything on a 2% cash back credit card now. Bills, gas, groceries, etc.... not useless things. I pay my balance off every month. I have never bought a single item that I wouldn't have bought with my debit card. I get over $500 back every year. You're not going to get rich off of it, but it's "free" money if you're responsible enough to never carry a balance.

@EJ84x 2 года назад

I don't understand how your paying more for something using a card than using cash (except at gas stations sometimes). Is it because people impulse buy? I personally put everything on my cards, pay them off every month, have not paid interest once (in 18 years) and have all my money budgeted. Can someone better explain to me, just want a better understanding if anyone has a video or something explaining it.

@blackworldtraveler3711 2 года назад

He’s just talking about financially stupid people. It would only make sense to them I guess.

@LoPiccolo. 2 года назад

Dave and his crew don’t listen to people like you. They will hear that and still tell you that you’re an idiot to thinking you’re winning and to cut up your cards. I like seeing people like you to prove that CCs can be rewarding if used correctly. I like Dave but I disagree with him on CCs. Yeah, I can see why he’s against them because of the people out there who use them irresponsibly and get themselves into bad debt. But whenever someone comes along who’s smart and responsible with their cards, Dave still says to cut them up. Btw his card vs cash example sucks. Most people nowadays use debit cards so I feel like they still know how much they’re spending. That pain of spending that $100 is still there.

@revolve9073 2 года назад

@@LoPiccolo. Exactly my thoughts

@Randomcollectionofletters 2 года назад

Psychologically, it’s easier to go over budget on a card transaction since the money doesn’t physically leave your hand. Consider you go to store with a budget of $100. You go to cashier and he rings you up for $102. It’s easier for you to forego that extra $2 because it’s in your bank account. If you went in with $100 cash and were $2 over, you would need to return at least one item to checkout.

@Jessica_Jones 2 года назад

@@Randomcollectionofletters I think the issue is that the psychology is totally correct (even for those who think they are exempt), but his argument is weak when he does use a debit card himself. I always watch these hoping for more compelling information against it but I'm always left wanting.

@kurts3779 2 года назад

I can tell you I feel the exact same thing when I pay with cash or card. No difference for me.

@TheSwissChalet 2 года назад

I’m betting you rarely, if ever, pay using cash. So it’s really not comparable for you.

@TheJozuaSmit 2 года назад

@@TheSwissChalet I feel the same way and I pay almost everything in cash tbh

@theraddadinvestor1000 2 года назад

I think that's the same for everyone besides Dave lol

@phrog849 2 года назад

@@TheSwissChalet The only thing I feel paying cash is the frustration from the underpaid cashier that she now has to make change for a twenty.

@britneeg 2 года назад

I track every expense I make. It all hurts!

@concertvids34 2 года назад

I love dave but he avoids the question about using a CC to pay utilities and other bills you pay off every month. The Majority of Americans shouldn't use a CC because it would get them in more debt due to a lack of discipline. However there are people like the person who asked the question who can pay the balance every month for bills they have limited control over.

@theeffectiveprogressive 2 года назад

Absolutely agree. Many of the strategies are illogical if we assume a person has control of their finances. The CC, paying down a low interest mortgage etc.

@fitnesschallenge1000 2 года назад

Lol I just made a post and exactly what you said. He avoids the question. I should’ve scrolled down and read first. Could’ve saved time ranting.

@TomOwen987 2 года назад

I think being a debt centred show, the assumption is most people are not in control of their spending. I like a lot of what Dave says, but this makes no sense

@concertvids34 2 года назад

@@fitnesschallenge1000 haha no worries. But it’s true he avoids the specifics of the question.

@user-tb7rn1il3q 2 года назад

If you pay cash for utilities at the local office you will freeze in the winter according to his research.

@om617yota8 2 года назад

I think Dave is forgetting that a huge portion of people these days never grew up with cash the way he did. It just doesn't have the same impact for anyone in their 30's or younger.

@theraddadinvestor1000 2 года назад

Exactly!

@rayjgold 2 года назад

Yes, his studies are outdated..... He has to find another way to trick people into spending less......like the envelope system mentioned here. But note, these are methods only needed by people who cannot control themselves and their own finances.

@littlebob1261 2 года назад

@@rayjgold Right? We did a study in 1987 blah blah blah

@jamesmcclintock5624 2 года назад

I budget every single purchase the day it is purchased... I use debit cards and Samsung pay. I FEEL every single purchase and SEE the effects on our monthly budget. These arguments against card usage only work if you don't budget and have the mind and discipline of a child.

@lr4454 2 года назад

Agree 👍 I was like all my debit purchases hurt when I see my balance lowered each time lol 😆

@Randomcollectionofletters 2 года назад

@benhargrove7969 2 года назад

Huge point. 👍

@crazyleaf257 2 года назад

Yes yes yes yes yes yes yes

@OneOfMyriads 10 месяцев назад

@@Randomcollectionofletterspsychology doesn’t translate into practice with self discipline

@carlosgutierrez2789 2 года назад

This will forever be the topic that I disagree with Dave on.

@theraddadinvestor1000 2 года назад

Same!

@nataliazakula3400 2 года назад

You have the focus and discipline and awareness. So go get your rewards! Most people are walking zombies.

@Dreamprism 2 года назад

Keep using them if you want. Just don't ask Dave about it.

@andreaw357 2 года назад

I do too. I am debt free and only charge what I have budgeted for. We save tons on travel. I only travel using rewards primarily!

@gauldenj1 2 года назад

Same here dude. Just because CC don’t enact pain receptors in the brain doesn’t mean you can’t be disciplined about using it.

@KennTollens 2 года назад

The problem with cash is that you can't buy things online.

@angel-ij4xv Год назад

use a prepaid debit card dah

@Carib6855 Год назад

Visa Debit my guy.

@mikojenson4525 11 месяцев назад

@@angel-ij4xv So PAY a fee to buy a card.... Instead of getting cashback by just having and using a credit card. This is where Dave's backwards credit card views lead...

@T.JAY.DEE. 5 месяцев назад

@angel-ij4xv so waste extra gas (money) to go to the store to put money on the card, then waste gas to go back home to spend more money?

@dbag57 Месяц назад

You dont need a cc to buy things online 🙄

@marcenelj 2 года назад

I have coded my brain to feel the same pain level when using CC the same as using cash.. I'm not an impulsive buyer. I don't buy stuff that I don't need just because I'm using a CC. I'm an engineer. I know how numbers work. If I buy something, it's because I NEED it. I usually wait a week+ to buy something that I want. Works good for me

@mikenelson8377 2 года назад

But it’s not a numbers problem. It’s a behavior problem. Your “engineer” job or whatever is irrelevant and honestly no one cares about. 🤦🏼‍♂️

@Garebare1 2 года назад

Island Societe you have no idea what you’re talking about. “Often bad with behavior”??? Where are you getting that from? That’s not true at all. All the engineers I work with are great with money and doing very well and they use CC

@bedantasaha5699 2 года назад

Dave answered this ages old question incorrectly thousands time.

@Michael-vf2mw 2 года назад

Yup, don't you love how he also completely fails to explain his reasoning that credits cards should never be used, but debit use is fine? They're both plastic, and both apparently dull the emotional pain receptors.

@bedantasaha5699 2 года назад

@@Michael-vf2mw Exactly. In fact I started using cards when I started earning money and to be honest it is more emotionally painful for me to pay from my card because paying cash simply means that money was already out of my account. I am not a hater of Dave, then I wouldn’t be here at all but every time he answer this question I expect maybe this time he will correct himself but he disappoints me every single time.

@donmcilroy 2 года назад

This advice is for all the people who can't control themselves. If you are going to get a rewards card for this purpose... get a cash back card. Real $$ only. You have to remember who he is talking to.

@LiveFreeOrDie- 2 года назад

Yes. Cash rewards are the way to go

@Sfount 2 года назад

I have mine linked with my Amazon account and use it when needed. I save the cash back from like June-Dec and right now I have like $300 for Christmas saved. Bills and groceries and everything paid off every month 🤷‍♀️

@JBrown-go8ru 2 года назад

I’m here for the comments, and Dave’s typical one-size-fits-all answer.

@theraddadinvestor1000 2 года назад

Hahahaha, Love it!

@crazyleaf257 2 года назад

Couldn't have said it better

@thelovelykimmi7920 2 года назад

It hurts when I use my plastic because I rarely, if ever, carry cash. I spend more when I have cash because I don’t like change or to keep it on me. Different generation 🤷🏿‍♀️

@crazyleaf257 2 года назад

Good point

@CLJlovesmal 9 дней назад

Yeah used to use cashenvelope but always had an issue spending. Then I'd go over on something and struggle to keep envelopes right after that. Cash just goes through my fingers. Credit/debit I am checking my account right away.

@HyDroSoniK 2 года назад

Makes the argument about plastic then says he uses a debit card. I love Dave but this view is jaded.

@theraddadinvestor1000 2 года назад

lol

@2hrsToChooseThis 2 года назад

I don’t know anyone that pays with a card and doesn’t acknowledge that they now have less money.

@666dynomax 2 года назад

Get some friends

@ClaxtonBay123 2 года назад

That’s a very common thing. That’s a big reason for CC Debt

@666dynomax 2 года назад

@@ClaxtonBay123 i think you need to re-read the comment from travis

@BetYouHateMeNow 2 года назад

@@ClaxtonBay123 and the reason why the C.E.O's each got 20+ million in salary and stock.

@theraddadinvestor1000 2 года назад

Yup!

@Augustin54 2 года назад

Going inside the gas station also significantly increases your chance of buying some BS snack or drink you don’t need (which is also how gas stations actually profit)

@__RD14533 2 года назад

The guy said that the only thing he ever charges are utilities & other bills what he HAS to pay anyway & you two refused to actually address him. You just said “well most people spend more than they would have”, except HE ISNT so why should he stop?????

@davyhoogy 2 года назад

Exactly. I hate their standpoint on this topic. They’re saying you don’t notice when you don’t pay cash, THEY ARE PAYING IT OFF straight away. 8/10 don’t use the points, that’s everybody… no it’s not Dave it’s 8/10! They have stated they use them.

@__RD14533 2 года назад

@@davyhoogy it’s because Dave went bankrupt after taking out a bunch of VERY high risk loans, that were called on him. No he is just anti any debate, because he was irresponsible with it. 🙄

@jlogan2228 2 года назад

They ALWAYS dodge the question like that. Like instead of hey DO WHAT THIS GUY IS DOING they are just like oh Yall are all too stupid and irresponsible

@Jim_Curtis 2 года назад

What Ramsey leaves out is that people spend more with plastic when they have NO budget. If you stick to a budget, plastic can just be like cash. It hurts to pay the bill for the card just as much as when you pay it in person. Budgeting is the key to everything.

@alexgosser5587 2 года назад

Honestly - it makes sense you spend more money with plastic than cash. It’s not sensible nor safe to carry large amounts of cash on you. If you only pay with cash - you’re going to be sending less money as a result.

@Jim_Curtis 2 года назад

@@alexgosser5587 I think it depends on the person. Without a budget, people who cash their paychecks spend all of it and then are short to pay other bills. I agree what they say is probably correct for the majority of people out there.

@alexgosser5587 2 года назад

@@Jim_Curtis I think you may have misunderstood me. You will always overspend if you don’t budget. My point was that if you don’t have instant access to those funds… your spending is capped.

@williamerazo3921 2 года назад

Capital one is the worst CC. It’s for poor people

@RoxiieSays 2 года назад

CCs definitely aren’t for everyone. But this is where I’ll always advocate for a CC for responsible people! If you are one to stick to your budget, and you pay your balances in full, there is NO NEGATIVE to using your CC for all purchases and reaping all of the rewards. Sorry Dave!

@mikesmith-wk7vy 2 года назад

He does say it can work for the very disciplined and calculating people but that’s the few

@hollyb6885 2 года назад

I agree 100%. I’ve used them for years. I never paid any interest. I stick to my budget. I charge everything that I can. I use the cash back for Christmas or vacation. That whole ‘it hurts more if you pay with cash….’ thing is ridiculous. Dave is wrong on this.

@user-wq5ws1qs7x 2 года назад

I agree. I put everything on it and at the end of the year I get about $1000 cash back from Costco.

@BrezzyBoi33 2 года назад

They make you spend more money

@britneyog9537 2 года назад

Agree.

@lag3432 2 года назад

False. Soon as I swipe my card I’m checking online the transaction, it’s like I have cash on me. Older folks don’t like changes.

@cutlerylover 2 года назад

Its funny I know so many people who dont like cash simply because they dont want to carry change (coins) lol...

@xDynastyHD 2 года назад

I stopped carrying cash because I was losing money 50cents a day lost is $13,000+ over a lifetime

@blackworldtraveler3711 2 года назад

I know I don’t especially after spending two months in Hong Kong.

@pey7777 2 года назад

I purposefully avoid businesses that don't accept some form of card. If they're "cash only" then I won't go there

@mathisnotforthefaintofheart 2 года назад

@@pey7777 Strange, I support cash only businesses and I vehemently avoid a business that do not accept cash, which is by law legal tender.

@ClaxtonBay123 2 года назад

That’s what Debit cards are for.

@fernandomartinezreyna1836 2 года назад

Do as you wish. Why you gotta ask a man? If you benefit on it then do it! I have a cc I went to a fast food restaurant they charged me $22 for a meal, I reported to the cc company and they reimbursed me $10 on that meal within 24 hours. I’m sure if I would have done the same with a debit card they wouldn’t refund me my money back and if they did they would take for ever. I love earning points on cc, I don’t care what anyone thinks. I pay off in full at the end of the month, cry me a River.

@Earstolisten 2 года назад

You just proved the “man’s” point. You swipe carelessly, never would’ve overpaid using cash. Smh

@BetYouHateMeNow 2 года назад

@@Earstolisten lol walked right in to that one

@warsaw5934 2 года назад

@@Earstolisten you’re reading comprehension is trash lol - probably a good thing you don’t have a CC cuz I’m not sure you could handle it. OP said that the restaurant mistakenly charged him that much, not that he over-spent. CC companies give you your money back super fast if there are mistaken charges/fraud on you account, while normal debit cards do not.

@Earstolisten 2 года назад

@@warsaw5934 “You’re“ grammar is trash…lol

@theraddadinvestor1000 2 года назад

He will never understand when he is wrong.

@crazyleaf257 2 года назад

He does the same thing with investment apps while it might not be the best thing in the whole world compared to a professional investing for you it's not as bad as he makes it sound but he doesn't really know much about it he didn't really research it before giving his opinion

@mikojenson4525 11 месяцев назад

He has a financial incentive to not be wrong.

@seugene7040 2 года назад

Dave’s argument on this topic makes absolutely no sense. Kind of like his idea of a $1000 emergency fund. 🙄

@lynnebucher6537 2 года назад

I don't like those travel rewards cards for exactly what Dave says, the redemption rate is poor. Ditto with the cards that require you to use the rewards on merchandise. The cash back cards are another story. I use those and redeem the rewards regularly. In general I only spend on necessities anyway. It's kind of funny how Dave talks about the gas costs. It's not like you stop driving because gas is high.

@jollama 10 месяцев назад

lol that’s your fault for not redeeming at 2+ cents per point

@silvesterbaez1523 2 года назад

Uncle Ramsey I appreciate everything you do and I know you take the opportunity to go deeper into this topic. However, the question posed was about money you are going to spend anyway. If this is used on things like utilities and other bills, and you are someone with discipline, what is the harm? Consumerism and behavior economics is a topic we ought to be discussing more. I agree, but again, what is the harm if it is money you are going to spend anyway? Listeners are looking for your specific answer to this specific question outside of the brain while spending. We understand that is something we need to pay attention to as well.

@johnd9279 4 месяца назад

Dave's right, I feel more pain spending cash. My credit cards let me avoid that stress, I'm at peace with it.

@sal5604 2 года назад

What did he say? "90% of millionaires didn't get rich off or points." That may be true, but you best believe they used points to offset their daily spend. All you're doing if done right is maximizing value. It's funny he calls people like me a "broke person with a theory". You want to know what my theory is this year? I don't have to spend a dollar on gifts this year because I accumulated enough points for daily spend to buy everything with points.

@fhuber7507 2 года назад

When I have cash... It disappears. I avoid buying if I don't have cash. I know this isn't the way most people are.

@MichaelAnderson-wk1no 2 года назад

I think the very fact that it disappears causes me to spend MORE when I'm using cash. There's no paper trail, so it feels too much like "play" money. It may be a generational thing.

@evansutton6760 2 года назад

Same

@Jessica_Jones 2 года назад

@@islandsociete that's a really great point. All or nothing really would be the key. ...But then both of these guys are talking about debit cards and paying for Starbucks with a watch so it's kind of hard to feel motivated to try it, ha

@miketheyunggod2534 2 года назад

This is BS. your bills are your bills. Your electric bill is NOT larger because you put it on a CC. Your cable bill is NOT larger because you use a CC.

@esonon5210 2 года назад

But I can't pay my mortgage or any of my bills with cash.

@gvanys 2 года назад

Dave needs to understand people barley uses cash this days everything is electronic, you order everything online include grocery for delivery and allot places dont even take cash.

@crystalsnow1138 2 года назад

But you can use a debit card.

@gvanys 2 года назад

@@crystalsnow1138 debit card dont feel the same as cash on your hand when spending it ask Dave it's still a plastic.

@theraddadinvestor1000 2 года назад

yup

@crazyleaf257 2 года назад

And people are still responsible and budget and careful and aware

@jollama 10 месяцев назад

Barley is a grain

@aightm8 2 года назад

As a cash customer you pay for other people's rewards. The 2-3% fees are factored into retail pricing

@henrikhkarpynskyi8712 2 года назад

After mentioning apple pay and Starbucks - I thought he will be fired on live air :) :) :)

@Joshuastem5622 2 года назад

How would you accidentally forget to pay and pay interest? It’s called auto pay Dave.

@kingtizzy007 2 года назад

Lame logic from Ramsey on this topic. Keep putting it on your CC, pay it off and earn those rewards. Simple.

@jrwntctv8091 2 года назад

There are no rewards.

@avapilsen 2 года назад

@@jrwntctv8091 yes there are.

@Rashaadthegr8 2 года назад

It's all about budget. I hate cash. I feel like a victim walking with cash.

@theraddadinvestor1000 2 года назад

Yup!

@kvgolfa 15 дней назад

Yeah no shit no one makes million with credit card rewards. But every millionaire I know (and I know a lot) uses credit cards

@1212holden 2 месяца назад

I’m so sick of him quoting that study because anyone from my generation views cash as a coupon. It’s not real I feel nothing, when the notification dings on my phone for using a card that’s what hurts because I see my balance drop in real time. (Besides the fact I’m going to Japan this year completely free because of my credit cards)

@zward0522 2 месяца назад

I pay my credit card off every month, and have never paid any interest. Therefore I will not feel guilty about keeping and using them. And does Ramsey consider the effects of not having a credit card?

@Paxevo 10 месяцев назад

“The largest study ever on millionaires ever conducted reveals”…….that the overwhelming majority of millionaires use credit cards to handle payment processing. A chick fila sandwich costs the same whether you are using cash or debit card. Using a credit card I pay 4% less than the person using cash or debit. Of course you can use strawman, ad hominem, and other logical fallacies to try and make your argument against credit cards, but there are better, less intellectually lazy ways to make your point that credit cards can be harmful to a person’s net worth.

@dannysaenz7948 3 месяца назад

This guy is rich. His rules don't apply to those of us who have found a way to beat the man. Zero interest paid is simple math. It equals zero. He's like my dad, that still believes there is no motor equivalent to a v8. Lol

@SomeBotOfficial 4 месяца назад

Try tracking everything every month, multiple credit cards just for points. I see peace of mind and paying it off way more valuable than a sad 2-3% back. Also i hold off on buying things, makes me save like crazy

@theresaglass1831 4 месяца назад

The way I look at a credit card versus a debit card is what each card represents. Credit card represents money I don’t have a debit card represents money I do have in my checking account. Enough said.!

@mikojenson4525 11 месяцев назад

Paying cash nowadays for normal purchases incurs at least a 2% penalty over using a CC. Dave calls people dumb for doing the mathematically correct thing.

@OneOfMyriads 10 месяцев назад

If you can budget with cash/debit card, you can budget with a credit card. You could get thousands of free dollars on your plate that you wouldn’t have had if you used cash / debit card. If you can’t control yourself, then yes, cut them up.

@yoddy0 6 месяцев назад

I only do cash back cards because airline miles only promote spending more money on trips and such. Cash back in my mind is like getting a percent match on my money and then just transfer it to an investment account to make more and of course I only spend what is budgeted no more no less. Most people probably aren't financially responsible to handle credit cards but for us that are its a nice little opportunity to take advantage of.

@HeartDrivenFinance 6 месяцев назад

If his point is that you spend more when you use a credit card opposed to cash, why does he willingly use a debit card as opposed to cash? He used the whole cash analogy even though he doesn’t even use cash.

@talyahr3302 2 года назад

If you have discipline or simply a set of rules like this person wrote, to only use the card for utilities and necessities I don't see the issue. That makes that MRI study irrelevant.

@joev8504 2 года назад

Need to use cash to activate the pain centers of your brain. Next sentence, using a debit card is fine. 🤣🤣🤣

@LuisTorres-lo8qj 5 месяцев назад

I will keep thinking about it. Next year I will give you the answer...

@RookiexLee 2 года назад

There's absolutely nothing wrong with travel cards

@marbs8615 2 года назад

this might not be the channel for you then

@RookiexLee 2 года назад

@@marbs8615 Are you a sheep?

@TheDjcarter1966 2 года назад

I say it is 💯 OK to do this if you never, ever are one day late on paying the entire balance. There is no extra attachment or spending in your electric, gas and water bill. But the day you don't pay off the entire balance at the end of the month cut it up.

@rosgyallay9529 3 месяца назад

I treat my credit card like a debit card and have traveled overseas 3-4 times for free in the last 5 years.

@imherefornowbutnotlong Год назад

I totally agree with Dave, I dont believe in credit cards. They are a scam.

@austinluepkes5484 2 года назад

Just a thought. Say you spend $100 to make $120. Your profit is $20. Had you saved just $2 your profit is up 10%.

@joshauth9975 2 года назад

The one Apple Watch comment got my 👍

@Joshualibbyy 2 года назад

I'm sorry Dave. U are straight up wrong.

@bethanychristiansen7499 12 дней назад

“Kiss the Ring” 😂😂 Made my day!!

@viethuynh6808 5 месяцев назад

Sorry, but Uber doesn’t take cash.

@artemthetrain14 2 года назад

I wonder if this is a generational thing. I've used plastic ever since I got a job. I only think about the balance of my bank account - the balance on my CC (which I pay in full every month). Whenever I have cash, it feels like extra play money to me and I don't even consider it in my budget.

@Realestbruhh 2 года назад

You have to spend a lot of money to get the lowest reward 🤦🏽‍♂️😂

@666dynomax 2 года назад

2:00 don’t plug Rachel that’s not her line it’s daddy’s. Poor Rachel. Ramsey solutions isn’t going to be the same without uncle Dave

@genxx2724 2 года назад

Poor Rachel is right.

@Oldtimeleftie 2 года назад

I got nothing from this. Dave uses a debit card and this other guy is even saying he uses his debit card. Say as I say not as I do is what I got out of this

@michaelleahy6848 2 года назад

When cash is actually viewed as an inconvenience by the vendor, you have to adjust.

@blackworldtraveler3711 2 года назад

People are going to run out of places to go with cash.

@mathisnotforthefaintofheart 2 года назад

If a vendor does not accept my cash, I will shop elsewhere. I am not saying to buy a $1000 item with cash, but small single or double digit amounts I do very often with cash. I support the mom and pop stores that heavily rely on cash.

@Bertuzz84 2 года назад

@@mathisnotforthefaintofheart Why would small shops need to rely on cash when they can join the modern times and use contactless payments for debitcards. It's much cheaper faster and safer than cash or a creditcard.

@piotrek4302 2 года назад

Home Depot in Chicago area is not accepting phone payments ;))) I tried ;)

@crazyleaf257 2 года назад

I wonder what the age range of the millionaires are that he interviewed. If they're all old this would make sense but there are millionaires who are young that go against his rules

@NoName-le5cw 2 года назад

Here goes Dave spreading Mis information again 🤦‍♂️

@ONLY1KUDWE 2 года назад

Not sure how, but let's test your theory. A pair of sneakers cost $5 to make. They sell them for $50. Profit of $45. You don't see how a company can "give" you back $5? You're being played beyond what you can even imagine. They can even say, taxes and fees, shipping and handling included and their profit is still crazy good.

@djpuplex 2 года назад

Yeah but he's a multimillionaire 🙄 selling theology and antiquated financial knowledge. Yet he pays mutual fund fees as well, like SPIVA doesn't put out reports proving mutual funds underperform bench marks over long periods of time.

@ONLY1KUDWE 2 года назад

@@saulgoodman2018 It shows how a company can give you back the money you overpaid for a product. It equates to ant large company that so call gives back. Their profits to do so are huge. But we think somehow we're getting deals.

@OGDezii 2 года назад

@@ONLY1KUDWE What’s the problem with that? You choose to pay that much because you think what you get out of it is worth at least that amount. So what if the company makes high margins from it?

@warsaw5934 2 года назад

@@ONLY1KUDWE so you’d rather just pay the $50 and not the the $5 back, thus making their margins even bigger???

@dancebrittany23 2 года назад

This video is pretty cringey. Giving off "good ole day" vibes

@adipratapsinghaps 2 года назад

So is it just psychological?

@richthepup 2 года назад

Yep

@blackworldtraveler3711 2 года назад

To the financially stupid it is.

@adipratapsinghaps 2 года назад

I mean, don't get me wrong. If it is just psychological, it is still a big issue. Infact the biggest of all.

@adipratapsinghaps 2 года назад

@@blackworldtraveler3711 Says the one who barely read a book

@yourgooglemeister6745 2 года назад

Always the same dumb answer

@hollyb6885 2 года назад

Dave is wrong on this.

@elchapojr6219 2 года назад

I still go inside the gas station to pay for gas in cash I don’t trust the swipe my card on those reader outside

@FlyinRyan31310 2 года назад

severely outdated study

@jonathanmiller5708 2 года назад

Boomer dave again with terrible advice

@lowellhurst1738 2 года назад

Dave has got more smarts than 10 of you stuck together

@DoTheDomThing 2 года назад

I feel the pleasure and pain on every purchase I make, especially the ones that are practically high way robbery.

@crazyleaf257 2 года назад

Yes! I really only buy things I need and I think about buying something I don't need for weeks and months before finally doing it. I'm very careful frugal methodical

@markg999 2 года назад

They are great if your frugal...I get back $600 to $900 a year...nobody is getting rich off points but it's for us free money.

@friedchickenbucket Год назад

You wouldve saved more in the whole year if you used cash as payment.

@markg999 Год назад

@@friedchickenbucket Doubt it as I'm pretty frugal as is.

@mikojenson4525 11 месяцев назад

@@friedchickenbucket False. Paying cash makes no sense for most purchases.

@YouTubejd-vg2cz Месяц назад

Be responsible with credit card usage and don’t spend money on things you usually wouldn’t buy if you didn’t have the card, I usually spend 2000 a month on expenses before I had the Amex card I have now and got absolutely nothing in return for spending that money since I’ve been using the card ive gotten around 800$ worth of flights that I wouldn’t of gotten before that, payoff the balance every month and be responsible and you have any of the problems Dave rambles on about

@mra95662 25 дней назад

I use my CC for everything. I was recently the victim of a skimmer at a gas pump. CC had always been in my possession, yet the card was charging up thousands of dollars all over town,in a few hours. I did not have to pay a single cent for this fraud. A debit card would have drained my checking account and had a much longer resolution time, only if I caught it in time! Credit cards are safer if used correctly in todays world.

@levismith511 3 месяца назад

And again, he hasn't answered this question one time. He asked why use debit over credit. Not cash over plastic. And Ramsey's whole argument is that most people don't use their points. And just like him, I always pay it off and cash my points in with actual money. Try actually answering the question next time.

@carstuff4u942 2 года назад

Dave can't backtrack on his CC theory. Once he does, his teaching will start to unravel.

@dimanoma416 Год назад

Alright a perspective from a dutch amex platinum user. I pay a yearly fee of 780 for my card and spend about 20k a year with it. 20k points racking up to visit family in new york (flying from ams) with my wife. On klm i need about 130k plus an additioneel fee of 465. To get to 130k point i’d need to pay 6,5years worth of fees (5.200), just to get a 50% discount on a 850 EUR ticket. The “rewards” are not worth it unless you spend a metric fuckton with the card. Meaning unless you’re rich and cash to burn (literally) you’re not going to get a anything out of it.

@joshuaray2657 15 дней назад

Money is a revolving door. It comes and it goes. Credit cards are fine if you pay them off completely weekly or bi-weekly. If you cant stick to that then stay away from credit cards. Pretty simple really.

@frank6250 11 дней назад

I'm sure it's true almost everyone spends more paying with a card vs cash. But Dave's argument falls apart when he has no problem with a Debit card. It's the same "emotional experience" paying with a Debit card vs Credit card if you know you're gonna pay it off. So why not take the miles or the cash back?

@ren6510 6 месяцев назад

It's pretty simple ! If you are a constant spender with a habit then get a card with rewards .. if you have money management skills DONT! Because what happens is , the people who don't spend much ends up trying to spend more to say they got rewards when they could of just saved the money like they usually do ...

@miked4973 Год назад

Dave’s point makes no sense. Unless you’re actually using cash for EVERYTHING. Super inconvenient.

@MannyQuintero-f8v Месяц назад

It depends on your situation.if you’re responsible and credit cards really are benefiting you then go for it.I don’t really see the value of getting a few rewards.I just prefer to have no dept

@diegog1291 4 месяца назад

Thought he was going to say the banks are charging secret fees or something like that but his answer is just dumb. Especially if you pay everything off every few days. I can tell the youngster next to him doesn't believe in this answer but is too afraid to go against Dave.

@coccyxboccyx482 2 года назад

This is a case by case basis. This is literally a boomer take because Dave is as old as time

@jookbj 3 месяца назад

I disagree with this one. I got way more from cash back than what I paid on interest. This advice might be outdated or maybe I'm the exception to the rule. I can see how most people end paying more interest over time than cash back they receive.