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

what-your-credit-cards-are-actually-costing-you-dave-ramsey-rant

What Your Credit Cards Are Actually Costing You – Dave Ramsey Rant – 6 Tips

Think you’re beating the credit card system? Think again. This is actually what your credit cards are costing you.
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49 Comments

  1. Lamars Smallwood
    July 22, 2021 at 2:24 am

    I ❤️ the information he gives

  2. Don Braga
    July 22, 2021 at 2:24 am

    Looks like he likes pain and want's to feel it with every transaction.

  3. Jeremiah Meade
    July 22, 2021 at 2:24 am

    3:56 "I mean Delta is Greek for "We're not really taking you there."

    Well, actually Delta is Greek for the fourth letter of the Greek alphabet.

  4. SOSA
    July 22, 2021 at 2:24 am

    Wow found one thing I don’t agree with Ramsey about

  5. John Pierson
    July 22, 2021 at 2:24 am

    CASH BACK problem solved

  6. Michael Hall
    July 22, 2021 at 2:24 am

    I actually don't think this holds true anymore. Once cash is in my wallet, it's out of my account and "spend spend spend" without concern. While I have to use a card I feel it connected to my account and personal balance sheet and it hits much harder.

    Not saying the psychology is wrong, just that our brains might now be getting wired differently since the research was done, from the fact that electronic payments are so much more common.

  7. Hayden Hannah
    July 22, 2021 at 2:24 am

    The shrill eggplant contradictorily tumble because ethiopia cytologically appear beneath a moldy hallway. half, unequal statistic

  8. Alex Peters
    July 22, 2021 at 2:24 am

    Who prints out a receipt a the pump? There is no purpose to it

  9. Paul Marshall
    July 22, 2021 at 2:24 am

    No… I don't spend more. It's just math.

  10. D Chry
    July 22, 2021 at 2:24 am

    “”””Your stupid receipt is still hang in there”””😂😂😂😂😂😂😂😂

  11. LH Prod.
    July 22, 2021 at 2:24 am

    Maybe we don’t care about gas prices because paying an extra $4 every week or two doesn’t matter.

  12. Adam Walker
    July 22, 2021 at 2:24 am

    Then can I have your extra miles?

  13. J Frazie
    July 22, 2021 at 2:24 am

    Oops i left my receipt in the gas pump thing you're right Dave , I'm new to this Debit card for gas thing!

  14. Amr Hosny
    July 22, 2021 at 2:24 am

    I agree with some of this, but there is no friction with debit cards either, and usually when you make a payment its at the end of a transaction and usually people dont back of of transactions because they paying cash

  15. John Doesit
    July 22, 2021 at 2:24 am

    Wait, I should "feel pain" paying for gas because its something that I must pay regardless of the price to get to work? That sounds pretty stupid to me…

  16. Tom M
    July 22, 2021 at 2:24 am

    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!!

  17. ra803 g
    July 22, 2021 at 2:24 am

    Dave ramsey doesn't know paper money with presidents on it is monopoly money. It's terrifying that he doesn't understand this.

  18. Gabriel Cubas
    July 22, 2021 at 2:24 am

    Welcome to the youth 😂, Every day I lose more hope on them.

  19. Paris Norman
    July 22, 2021 at 2:24 am

    "It's the cigarette of the financial world. It used to be cool, and people are gonna acknowledge that it kills ya" – Dave Ramsey

    This is such a powerful analogy.

  20. rtx3090isdumb
    July 22, 2021 at 2:24 am

    Paper money eventually returns to its intrinsic value – zero.

    Voltaire

  21. DaMainDude
    July 22, 2021 at 2:24 am

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

  22. Dancing With Alpacas
    July 22, 2021 at 2:24 am

    Discipline my friends, Discipline.

  23. ladolcevita uk1
    July 22, 2021 at 2:24 am

    100% spot on

  24. J & T
    July 22, 2021 at 2:24 am

    He just said I was stupid, 😤 I'm going to get my scissors a plassection

  25. J & T
    July 22, 2021 at 2:24 am

    38.00 almost 17 gallons. I was definitely on
    "excellent " ( empty)

  26. Michael Anderson
    July 22, 2021 at 2:24 am

    This advice is ALWAYS wrong, even if he's right the other 99% of the time. A person who doesn't pay off his card every month is making a bad choice, but that doesn't make credit cards bad choices. It's the same argument anti-gun lunatics use: No one may have a gun because a few whackos a year use them improperly. Ridiculous.

  27. Fitness Journey
    July 22, 2021 at 2:24 am

    Let's not even mention all the money people spent thru Amazon with Plastic and You get excited when something has free shipping

  28. NewToTheLyte
    July 22, 2021 at 2:24 am

    Dave when he goes on his old man rants can be a bit insufferable.

  29. Holy Smokes
    July 22, 2021 at 2:24 am

    I heard go long on disney

  30. Wayne Wallace
    July 22, 2021 at 2:24 am

    I made a mistake. I thought credit cards made me feel wealthy not worrying about making the payments. I enjoyed it so much, thinking that I have got to be rich and bought expensive clothes and monitors many other things. The results? I was hit with debts and collections. Sniff sniff! 🙁

  31. Neal Paulo
    July 22, 2021 at 2:24 am

    Can i buy your book with a credit card?😂

  32. SHIRDAN LLC
    July 22, 2021 at 2:24 am

    “Well, We got Mickey Moused!” Dave is a killer

  33. glenn t
    July 22, 2021 at 2:24 am

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

  34. john done
    July 22, 2021 at 2:24 am

    I dont see restrictions on airline miles, its a lie, i have been using points for air tickets for years and i pick whenever i plan to go, didnt have any problem

  35. john done
    July 22, 2021 at 2:24 am

    Those that paying off credit card every month are those that wont spend more
    The research is such a lie

  36. Alo Knight
    July 22, 2021 at 2:24 am

    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.

  37. Isaac Ruiz
    July 22, 2021 at 2:24 am

    Okkk but I have major questions I’m 17 and have a class on Finance and the teacher basically puts on a lesson from Dave and many of those lessons are very very good I do feel I learn a lot from Investing to Savings. To learn how interest works how mutual funds work but I’m still uncertain about Credit Cards. This targets the majority of the people with bad discipline. Me Im 17 and hate overspending on thing I don’t need so I don’t. I only buy what I need always and I’ve been using cash a lot. But with credit cards it seems like it’s good for those who are very responsible which is only a certain amount of people and I’ve always been responsible with money. But again I’m still in the middle whether or not I should look into getting a CC OR NOT.

  38. Chrochet Fan
    July 22, 2021 at 2:24 am

    I still get pain even with plastic,
    Credit cards are low (close to zero)

    And I still budget

  39. Ivan abdurrofi Al hakim
    July 22, 2021 at 2:24 am

    If you have to use credit cards to build your credit score remember to pay at the end of the month, so you will not be charged by interest.

  40. Brandon Lee
    July 22, 2021 at 2:24 am

    I’m not smashing this like button

  41. BC
    July 22, 2021 at 2:24 am

    the answer is zero. A credit card cost me zero dollars and actually makes me money for nothing.

  42. Raymond Blake
    July 22, 2021 at 2:24 am

    'even those that do (pay off credit cards) overspend'

    But, the whole point of the Dave Ramsey plan is to use an every dollar budget… If I'm assigning a job for every dollar that comes in, then it doesn't matter what card I swipe, I'm only gonna spend what my every dollar budget indicates. Further, with a credit card, I'll get one percent off all my purchases, and more easily be able to get reimbursed if I'm overcharged by a vendor or something.

    Finally, the 'psychological aspect' that Dave talks about, where you feel physical pain if you spend cash when you see it leaving, and thus you spend less, may work for some people… But for others the effect occurs in the opposite manner. If I've got cash, it's already out of my account, so if I spend it, the number in my bank account stays the same, so I don't experience the 'pain' of losing something, and so I'd spend more. However, if I spend on my credit card, that'll show up on my bank statement and this incentivizes me to not use it and therefore the result is that I spend less. Obviously, I have automatic credit card payments set up, and I keep a balance in my chequings several times the balance on my credit card, so it is impossible for me to incur any interest charges.

    Also, while I'm debating against things Ramsey says, there is nothing wrong with holding cryptocurrency as part of a diversified portfolio, as long as you thoroughly understand the technology.

    To be clear I think Dave Ramsey is great, but it is good to play devil's advocate.

  43. Josh
    July 22, 2021 at 2:24 am

    If you don't use your card to get at least 2% cash back on average, and pay it off every month, you are the one paying for those who do. Understand who the patsy is here. If you use your debit card or cash for everything, you are overpaying by definition. Invest in Visa and Mastercard and call it a day.

    I applaud the Ramsey approach in general, and so go ahead and listen to him here. This way I can continue getting my cash back on groceries, gas, and travel expenses, and placing that cash into my brokerage account.

  44. Mike Shaffer
    July 22, 2021 at 2:24 am

    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.

  45. Phil Spaghet
    July 22, 2021 at 2:24 am

    Dave's logic on credit is kinda wack. Watch Graham Stepham, it's about using your credit cards WISELY, not just paying it off. Use it right and you can use banks to your advantage. Dave's advice is great for getting out of debt but this is kinda where I draw the line.

  46. Jim Handler
    July 22, 2021 at 2:24 am

    To those about to cut up their credits: Go ahead and cut them up, cause you are not disciplined to use them wisely. BUT, before you do please look up the amount of rewards you may have built up due to your crazy spending habits. DON'T LEAVE MONEY ON THE TABLE. At least get something back from the credit card company that is yours.

  47. Teacher- Hui
    July 22, 2021 at 2:24 am

    pay off my credit card every 3 days. It’ll help psychologically

  48. Chris McKenzie
    July 22, 2021 at 2:24 am

    Dave is 100% wrong for a select few people oh, this is why: If you pay your cards off in full every month, and also have a written budget, that completely, that completely stops you from spending any more than you would have regardless. The people that actually know what they're doing with credit cards aren't going to become rich off of the credit cards, but they will make thousands of dollars a year for nearly no time at all put into it. Those thousands of dollars can then be invested to make even more money using compound interest. It's ignorant to say that absolutely nobody should use credit cards because that's just plain wrong.

  49. Joseph Miner
    July 22, 2021 at 2:24 am

    How can you overspend if you are using a Gas Credit Card? I'm filling my tank either way. Debit cards are dangerous. When you card information is stolen, thieves have access to you money in that account. It happens all the time. A gas credit card offers protection against the chance of your debit card getting skimmed at the pump. You also get rebates for using a gas card. So my question is: If you pay your gas credit card off every month, you get rebates, you don't overspend on a gas card – how can you? You are not taking any risk of someone getting access to your bank account. All of these reasons make sense to me. How am I wrong?