What Your Credit Cards Are Actually Costing You - Dave Ramsey Rant 

"You have four dollars to your name" Dave is the ultimate savage 😂😂😂

Dave would probably be pretty disappointed I bought his book on credit.

My biceps are getting outta control from constantly ripping up credit card offers I recieve.

Dave just yelled at us, going to sit in the corner now!

Net worth of $4? I think you're overestimating. I'm pretty sure majority of Americans net worth is in the negative due to student loans and credit card debt.

When you tell your dad you’re getting a credit card

"You're not even pulling the receipt of the thing. I know cause when I pull up, your stupid receipt is still hanging there" 😂😂😂😂

No matter the form of payment , if a person have bad money management then they have bad money management.

Dave, I took your course in 2005, cut up my credit cards and went cash only. Raising three kids, we were drowning in credit card debt. Best thing that could have happened to us. Our kids are now adults and also pay for things in cash. Amazing how much stress was relieved going cash. Thank you for your realistic voice of reason.

"You're so freaking excited about your free trip to Europe that's not free." 😭😂😂😂

Here’s my notes🤓: - 78% don’t pay a cc off a month. 22% pay it off - Avg. 12-20% more w/ cc, ie at a vending machine it’s 178% more - Reduces emotional friction; it’s a rigged game, 90% of airline miles are never redeemed - Pay w/ a debit card not a cc - Pain gives a memory, which is why people who use cash remember what’s spent - The more $ you make, the more credit card debt you have - Ramsey teaches discipline & even he falls into the trap of spending more w/ plastic

"Delta is Greek for we're not taking you there, we just said we were." 😂😂😂😂

Anyone else feel like their dad just yelled at them for the first time?!? 😩

I personally feel cash slips through my fingers more easily, but every time I use my debit card it registers in my brain that it's directly touching my bank balance and sometimes I feel like that makes me more cautious.

My family has paid off 20k debt in a month taking our original savings for a home and putting most of it there. What a relief this has been for my family. Finally going to be debt free by the end of the year. Never going back to this.

I used to be in the 78%. I'm now in the 22% and have cut our family spending 20%. We have paid off all our credit card debt and have saved 85k since March of this year.

When I was just out of college my great grandma on the east coast was turning 100 and i wanted to visit her. I didn't have the cash to travel so I applied for used a credit card to visit her on the east coast. She passed away a year later. To this day I do not regret using a credit card for that trip!

My wife and I cut up 4 c cards on 1/1/2020!! 👍🏻 Now to get emergency fund fully funded, then on to step 2 🤞🏻

I'm glad that you tell the truth, no matter what or who gets their feelings hurt. Thank you Dave.

Can you imagine being the gas station skimmer that gets Dave Ramsey's debit card info?

"We got Mickey Moused" 😂😂😂😂 I know many commentators say Dave is too extreme in his views on CC, but the trillion dollar cc debt shows that lots of ppl are getting mickeyed up.

I feel the pain regardless--paper or plastic.

I remember starting college in 1992 at 18y old, making about 9k year. I got my first credit card from BOA. My credit line was either 20k or 30k with an introductory rate of 0%. I thought I was special. How naive I was! It took me about 9 years to pay off that BS.

I found this out the hard way. I noticed that when I use plastic when I go out I spend more money because you don't see it or feel the pain like you say. Now I take out a set amount that I am going to spend and that's it.

I've saved hundreds of dollars thanks to the bonuses and cash back rewards plus 2% cash back on every purchase and 5% cash back on revolving categories. I pay it off in full every month and only use it on stuff I would have payed cash/debit card anyways.. it's called having discipline and common sense.. it's not that hard. Edit: Thanks Graham

Just paid a $21000 capital gains tax and I’m glad it was paid through direct debit. Having to drive to my local IRS office with a briefcase full of cash would have hurt like nothing else. Another great video Dave, I’ve switched to cash for almost everything and I spend so much less now. I spend a lot more time thinking about my purchases.

I use credit cards and don't pay interest nor do I spend more to chase points or cashback. I use a credit card for purchases I was going to make anyway, and already have the $ for in my checking account to pay off the balance in full.

I'm just the opposite. If I have cash, it burns a hole in my pocket. Seeing a credit card balance activates the pain centers in my brain.

Lol “we got Mickey moused”

It doesn’t sit right with me to spend money I don’t have. It’s insane to me to the point I won’t date someone who’s in debt. It’s simple buy what you can afford or save up to the point where you can buy it twice. You don’t need the most expensive car or whatever

Stop the preview at the beginning. Keep the old format

This month I have paid off and closed three credit cards 💳. Two more to go. My foco score falling fast 💨 and I couldn’t be happier.

i got 6 credit cards a 740 credit score and still keep my credit utilization low. I use credit cards to spend money i would be spending anyways. they are not bad if you know how to use them. now if you DONT know how to use them you max them out and pay the minumum of course they are bad. it depends on how YOU use them!

I used my debit card and to activate the pain centres I wrote down every dime I spent. Also, I had a budget. It worked great, I learned to really think about every purchase and what I need vs what I just want.

Comment section: DAVE RAMSEY FANS vs CREDIT CARD USERS

He's actually correct. I went grocery shopping today. Took 60 bucks with me. At the checkout, the total was 71 dollars. Had I had my credit card, I would've just used that. But, because I had cash, I had to put stuff back. Dave is correct, you'll overspend using plastic. Use paper.

I mean even Apple has their own credit cards, it must be a good business.

I NEED a new rant on this. This ALWAYS comes up. So much statistics on this & people just follow their desires anyway..

Debit card is the way. With cash, I hate holding loose change and eventually forgetting about them

Yeah, but I don't buy more gasoline because I'm paying at the pump with plastic. I fill up my tank when it needs it -- whether I'm paying with cash or credit.

I have absolutely 0 knowledge of how much cash I have spent in the past year, however I know to the exact penny how much I spent on my 22 credit cards. Because I am constantly reminded of it, unlike cash that just disappears!

PAPER MONEY DAVE.....I carry a Chunk of gold and I shave it off with a knife to pay for things.... make a budget....when I pay any Bill now it causes friction ...debit or credit. I still won't use credit for anything I didn't budget for.

“Your net worth is 4 dollars”🤣🤣🤣 I love Dave

I really like the overall philosophy that he preaches. His big emphasis is live within your means and pay attention to what you spend. The only issue I have is Dave has a “one size fits all” philosophy. I wish he would acknowledge that there is more than one way to manage money. A disciplined person will do fine with money and with other life decisions.

I try to listen to a couple of Dave Ramsey videos every morning to remind me of the debt noose.

Not having a credit card is the only reason I m not financially ruined

Thank You Dave! Wish you were around when I was younger, but now I know better!

Great information. Thank you.

Man, I must just know every single "above average" CC user... because everyone I've told this too says it's not them. "They always pay it off on time, and they never buy more than they would have with cash". I just shake my head and smile and say "Yea, it's weird, because NOBODY I ever talk to is the person who does it... yet the average person does it."

I love that he says "airline service, other than Southwest, is an oxymoron". How true that is.. I only fly Southwest now because they are the one airline that I feel like they actually care about me as a customer.

I ❤️ the information he gives

I still feel the pain with a debit card since it comes out of my account. I keep track of that with my budget.

I have two credit cards. I've been paying them off every month since I got them. Never missed a month in over 10 years. My credit score is through the roof.

My goodness, he's young! When I was young we didn't walk into the store to pay with cash. The attendant put the gas in, checked the oil and tire pressures, and we handed the cash to him without ever leaving the car.

I love the true advice Blessings

I wish Graham Stephen would watch this😂

I use my credit card to pay for food and gas and my bills, that I would pay off monthly anyway, so I use those points every year for sorts of free stuff. It all comes down to personal responsibility

I worked in retail and cashiers + sales associates are rewarded greatly if they manage to sell a credit card for the store. They help profits for the business SO much. When I worked there, then I realized why it's so one sided in advertising. They don't help the consumer in virtually any instance. Even if you think you're the savviest person ever, credit cards are just a burden to manage and do not excel your wealth significantly even if you pay everything off, get rewards, etc. In the end it restricts you on where/what you want to buy while just adding another thing on your list to test your mental health.

Nice video!

I'm a programmer. I coded something that sends me a daily budget using the banks automated notifications. When I'm over the budget, my credit card doesn't work unless I actually sign in and authorize more spending which I only do in emergencies. Every transaction sends me a text with how it affected my budget and what remains for the day. The best discipline is making your system not require discipline. So. I spend exactly what I want to as laid out in my budget. If I overspend today I can't spend tomorrow. However, his advice works for the vast majority of people and that's why he is 100% correct in this segment.

I think for younger generations cash feels like money already spent. Certainly if you can only use cash then you are limited by how much you are carrying, but I don't really feel it when I spend cash because it's money that's already been deducted from my bank account and I don't have to look at a digital record of the expense like I do with debit/credit.

Just in time for my lunch break!

Thank you Dave you are a good man. God bless you and your family :)

For those of us disciplined enough to not overspend I'd say you're wrong. Haven't paid for a single flight in over 5 years thanks to my AMEX

The "Coming Up..." preview is so unnecessary. Can we not make that a thing?

I paid $5 cash at the pump until I can use my card at Costco. I get 4% cash back. Cash back is always better than airline miles. On top of that, the gasoline at Costco in my area is about 40-50 cents per gallon less expensive than other gasoline stations. If people have discipline, it is always smarter to used credit cards with cash back as long as they payoff the entire balance each month and never pay interest.

I totally agree with this.

Dave’s voice is addicting! I can’t stop watching these videos!!!

Delta is greek for "We're not really taking you there, we just said we were" - I almost died laughing haha

My wife and I have no debt, pay our cards off multiple times monthly and get cash back in the following areas 6% groceries, 3% gas, 3% resturants, 5% Amazon, 4% hotels and airfare (regardless of brand, so I can choose the lowest cost option), 1-2% everything else. I also travel for work and expense hotels, airfare, and restaurants regularly which I receive cash back at no cost to me. I monitor our net worth and spending through apps like Personal Captial and Mint and spending on a CC shows up no differently than a debit card would. I don't think carrying cash around is a serious option in this day and age, especially when traveling. Additionally, when paying in cash I don't have the visibility of where my spending went with these finance apps. Credit cards are a tool, they can be misused for sure and many people do, but if used responsibly can provide various benefits. With apps like mint and personal capital, I do feel the 'pain' Dave talks about when I make purchases on a Credit Card, that I don't feel if I use cash that's not accounted for in the app. I think Dave has great advice in many areas, but think he has it wrong on this one, at least for people who treat a credit card like a debit card.

One of the BEST!!!!!

I have 5 credit cards and only use 1 for most of what I purchase. In the past year I’ve opened 3 CC and received a total of $600 intro bonuses. I also get between 2-5% cash back, fraud protection, purchase protection, zero liability protection, curb aide assistance, and $0 annual fee. I auto-pay full balance every month and receive push notifications whenever I am within $100 of my budget so I can never overspend.

Excellent video. I started a debt snowball a few months ago before knowing who Dave Ramsey was, but he has given me focus and a more precise plan.

If you’re actually smart and responsible with spending and budgeting assigning every dollar each month, and use a credit card and pay it off monthly and gather the miles as a bonus, then I don’t see what’s so wrong with that I’m a cheapskate I don’t buy anything more than I have to and credit cards do not make me spend more than I should and I always make sure I have the money to pay for items I already budgeted for. And I get free miles Also debt free

I love Dave Ramsey

This is really interesting

Dave Ramsey assumes that just because certain people are not responsible with cards, none of us should be using them. CCs and a credit score are tools that can be used to your advantage. Responsible spenders don't need to play psychological tricks on themselves because they are disciplined and motivated to reach their financial goals. No matter how many fits Dave Ramsey throws, people are going to continue to call this bad advice. Same as the marriage advice he gives out, having only one side of the argument on a 5 minute phone call.

The people who really should not ever use credit cards are the ones who pick them for "the lowest interest rate". The fact of someone shopping for a credit card that way tells you that they're using credit cards incorrectly (intending to carry a balance).

I am someone who pays off my CC every month but I absolutely agree with him about the emotions of paying with cash vs with plastic.

Dave keeps telling us that fire is hot and will burn you, yet everybody still wants to play with matches!

I get it, Dave, credit cards aren’t meant for everyone. But as a Disciplined person I really enjoy credit card’s convenience and benefit.

i agree with dave on almost everything. credits cards is not one of them. I'd love for Dave to follow me around for a few months and see how I handle my CCs. he'd probably be too prideful to admit that some of us ARE beating the system.

Preach! 🙌🏻💯

Spot on! It’s also why casinos use chips because you don’t feel as much pain as you would throwing away the Benjamin’s.

If you have a thing called self control then this doesn't apply.

I tried paying cash but I would miss out on cash back and it's too cold for that.

Get'em Dave!

I agree with everything dave said about the debit card part. Trust me, I feel every bit of pain using a debit card as I would real cash. Because whenever I spend money I look into my bank account and see my balance go down. If I take cash out of my account (which i stopped doing) I almost feel like Im playing with fake money because its such a small percentage of my account balance that I dont care what I use the cash for. So I guess Im the opposite of how Dave sees it.

Imagine how much more wealthy we would be If we payed ourselves that amount of money.

4:50 to 5:03 I still do..I try my best ...NEVER to use my debit card at any gas pump.

I've had a debit card for a really long time, I definitely feel like I spend more when I use it. I still feel pain when I spend money with my debit card but not as much as I feel when I use cash.

151 people who disliked this are proud of their airlines miles!

I closed my credit card this Sunday and I am so glad, I didn't feel like Dave was shouting at me for once. I think my parents taught me these lessons growing up but in this society of instant gratification I forgot.

Anyone else in here come back to these videos for Refreshers and a good laugh? 🤣🤣😹😹

Got a “free” round trip to Savannah, GA through Southwest CC. Paid OVER $1,500 while there for hotel and food. Used the SAME credit card to pay for it....I got a “PhD in D.U.M.B.” Just like Dave said....kicking myself to this day ! It’s a vicious cycle that CC companies have us in if we’re not smart.

Dave you say "many studies" often when talking. I think it’d be helpful to cite these studies so we can read them and learn more.

When I was in college in the 80's I was looking forward to the cashless society and was excited that I could use my debit card to pay for stuff. I was paying $350 a year in atm fees. That's nuts.

You are spot on....

Dave is the man.

Ah yes, Dave and all his PRESUMPTIONS! Don't know how I became a self-made millionaire while violating so many of Dave's presumptions? Maybe, it's because Dave makes assumptions that all his opinions are correct. They aren't!!