I am a single mom, it boils down to this.... No one is coming to help you, so you gotta figure it out, and that means you budget, cut out the unnecessary, and IF you can work overtime, take advantage, or get a side hustle.
As respectfully as I can say it, this is incorrect. In life, there are either those saved by Jesus, or not yet saved. Riches stored up on earth will come to nothing. When you die it will not save you or have any value. People will ignore and mock this warning up until it's too late.
Yeah that sent shivers on my arms because it is so true. It’s highly intelligent but immoral people, manipulating overly emotional, less intelligent people who follow the herd mindlessly
When I was looking at getting my master’s degree, one college’s financial advisor had even worse advise about vacations. She took the leftover student loan and went to Mexico for two weeks. I couldn’t fill out the application with wisdom like that coming from the counselor.
I know it’s not “paying off debt” but switching to a zero percent while doing debt snowball makes ALL of my payment go on the principal. Especially when our interest rate is 20% plus
But you also have to factor in balance transfer fees which is usually a percentage of the total transfer. It may not be as much as your interest with a previous card, but your payment is going to the principle which is now a larger amount.
You are not at war with your life, but you are at war with the system. I encourage everyone to play the game and take advantage of companies when you can.
I have a sister who is 54years old, no retirement saved and takes vacations to Vegas and Florida.....just this winter. She has no plans to save, her plan is to get married and let her future husband take care of her. Too scary for me. Hope this plan doesn't fall through because she will be on a struggle bus. Yikes!
You do realise that the banks have no money. So any savings, investments people have will be worthless in the future because the money you think you put away doesn't actually exist. We're heading into a massive depression which will be similar to the Great Depression of 100 years ago.
@@lepolhart3242There is no room for fear in love. Trust in God, Creator and loving heavenly Father, and obey his word ( including these biblical exortations - dont borrow, get out of debt, save and spread your riches ) He provides for us if we are seeking His kingdom and get right with Him.
I use a rewards card - and it's paid for many flights. I pay the card off at the end of the billing cycle, so I never pay interest. No guilt whatsoever.
You know this thing called a staycation? If your vacation time is use it or lose it and you have a lot of time to use at the end of the year. Take the vacation time and stay at home, do free things in your town. Pretty sure the animal shelter might let you walk a few dogs.
I understand the concept of selling to consumers but at some point we should realize we're human and should not be "used" as a battery or a way to keep people rich! 🤔
At some point people need to take responsibility for themselves and their actions, recognize their greed, and take action. The people that get "used" to get rich are always the people that buy trash they dont need because they're greedy.
You are right. Earning and using your rewards, or not, doesn’t affect anyone else’s situation. They are just trying to guilt you out of actually getting a benefit from using your card responsibly and paying it off every month.
does that mean it is unethical to have shares in mastercard/visa ? thats part of the us equities index and if you own the index you are hurting the single mums owning mastercard/visa.
Exactly lol people own all kinds of stuff in their 401ks. I own sin stocks like BTI I don’t smoke but it’s a free country and I’ll make profit off people who do
It's called a debt trap for a reason. Only spend your own money! Coming from someone who literally just paid off $8,500 of debt. Don't do it. The only acceptable debt is a car or home.
@Jordon Yates I'm aware, I'm A long time listener. My opinion is that it's acceptable because you're getting ahead, and eventually it will be paid off, if it's a budget buy. You can make a lot of money with a running car.
@@sergioliberates who pays for stock when the prices fall. I think everything technically is against the retail person depending on how you look at it. If you are truly against it, best to just use a High Yield Savings Account.
This is true there really is no opting out. All prices are permanently higher because of transaction fees. The places that offer a lower price for cash are rare.
One piece of advise that Ramsey has alway gotten wrong. At least if someone isn’t going into debt there is literally nothing wrong with earning rewards on what I already was spending.
If your treat a rewards credit card exactly like a debit card, no bad things can happen to you. I’m taking my son to London for a week next month and paying NOTHING for flights and hotel - it’s all covered by points (minus the $400 in airline taxes and fees). I’ve never paid a single cent of interest and my credit score is over 800, which helps keep car insurance down. I have no idea why Ramsey keeps this position so steadfastly.
That logic is so flawed. No you’re not taking away money from people that struggle. That’s such a scummy way of blaming other people for their own poor financial decisions. Besides I’m kind of tired of this sad single mom thing. Majority of single moms are literally in that situation by incredibly poor choices they make in life. People need to take accountability
Dave would also use "possible recession" Dave wouldn't believe inflation was happening until he could no longer deny it - i agree debt is no good- thats about all i agree with Dave on these days. And these two 🙄
Saying your not going to use free money and discounts because their taking it from single moms just means the CEO will gladly put it in his pockets lol
@@paulc3749 i get what he is saying, but if anything he could use that cash back or points to give back to those single mothers he is talking about 🤷🏾♂️ because i promise him simply doing nothing isn’t helping anybody
So glad i don't go on vacations, at my rather low income, if i did vaca, i'd be canoeing up sh*t creek. Instead, i stay home, and am free of mailbox anxiety. And that's priceless:)
@@jimmymcgill6778it's an appeal to emotion argument. Inherently flawed. I do like the guy and a lot of the time he's really good. But instances like this are why you probably shouldn't just blindly follow somebody.
@@jimmymcgill6778 I just don't see the point on dealing with snakes to get 10$ on spending 1000$.that's not gonna determine you being wealthy.budgeting,discipline,relationships will though.
Zero interest cards are a good way of " stopping the clock" while you pay the debt down. Obviously the company is hoping you will spend on it, at which point they can whack you with extra high interest. But if you cut up that card immediately you get it ( don't, for heaven sake, keep it "just in case" ) and then pay it down, you are not losing any more money to interest, just paying down the principal. We did this and are only a few months away from " debt free except the mortgage"
I use my Amex and pay it off every month. No interest, I replaced my dishwasher, dryer and washer all with points. I live relatively frugally too. Lol to all the people who use cash and debit cards. Not to mention the added fraud protection of using an AMEX as opposed to a debit card that goes directly to your checking.
Not sure I agree with that argument. Would they make the argument Dave is taking homes away from people with his vast property portfolio. Single Mums across the country are being robbed of high rents. How dare they!
They’re all yes men. I understand every workplace has its own code of conduct, but it sounds like you give up your brain when working at Ramsey solutions cause they force you think like Dave only.
To be hired you have to agree with the DR way. I’m pretty sure they chose to apply and work for DR. Which means they 100% agree with the baby steps and no cc rule. It’s call making a choice to live that lifestyle. Just like it’s my choice to have a cc. Which means I wouldn’t apply to work for them. No one is forcing them to be 100% on board. In fact I’m pretty sure most of them found DR and the BS prior to working for DR. And I’m sure the reason they’re on board is because it worked and got them out of debt.
Whether you win with points or win without points, someone is always going to be losing. I’ll take the W and keep moving. It’s not my fault people are constantly spending more than they have or living beyond their means…
What do these Ramsey personalities think of coupons? Or companies selling things as 'loss leaders'? Do you think they aren't making up that profit by charging more things for some other products? What is the line when it comes to refusing to use products that use business practices that may give you a discount or premium while charging full price to someone else?
Exactly, what about those "digital deals" or digital coupons at grocery stores? Guess what, they actually HELP people in lower/middle income quintiles stay within their grocery budget, if they use them correctly! So why is this wrong for other income quintiles to use cash back/points/travel rewards when they use their cards correctly by paying in full every month? I pick cards that have cash bank/points on categories that specifically apply to my regular monthly bills, like groceries, utilities, phone, gas. Look at your monthly bill statements, there are always some kinds of tax and/or fees tacked onto your base cost. The card cash back/points help to partially offset those pesky taxes/fees.
@@jeromehenry4484 It's wrong because the money for your rewards is coming directly from those who carry balances month to month and are getting charged usurious rates of interest. There is no comparison with your digital coupons, which is silly.
About 40% of people are responsible enough to pay of card in full every month and meet savings goals. These folks don't have debt and don't have emotional issues with spending. Those folks can ignore Dave and use cards as tool if they want to. The rest of folks are just better following Dave advice to the T
John's comment about not using the card to get free flights because of some single mom out there at 32% interest and somehow he is responsible for her cc interest is just silly. First, he has to tow the Ramsey line and cut up his CC. Second, show me the CC with 32% interest. Third, John didn't make that single mom, or anyone, sign up for a CC she can't pay down. Fourth, just because he was required to cut up his CC to join Ramsey doesn't mean anyone stops paying interest on CCs. Companies charge interest on CC because that's how they make money and someone not using them for free flights just ensures they keep more of their money.
@@bc_usa I do not believe this premise is correct. Unless you're like my corner diner who adds the CC fees to his overpriced waffles (he owns the whole building on the UES for gosh sakes), retailers/sellers use CC fees in their pricing. Fees pay for profit and rewards. They also cover delinquencies and defaults.
Fess up, Doctor. You *only* dumped your CC when you went to work for Ramsey because it's his mandatory mantra. You enjoyed the points and miles. Now you say that those that use CCs and enjoy points/cashback/miles are moral sinners riding on the back of others. You know darn well those others will always be there and you know the reason also. It has to do with their poor life decisions and I refuse to let you drop guilt baggage on those that use CCs to their advantage. Please stop pontificating.
Sorry, but you can't hate the player in this. Corporations (due to their investors/owners) focus on their bottom line, and it's up to you to focus on yours. If not, then you're just a bucket full of "bloody chum".
I'm going to buy "Arbitrages For Dummies" with my cash back rewards and ship it to Baloney. I will have the BLOOD OF SINGLE MOMS WITH THREE KIDS on my evil hands.
At the 4:30 mark I had to disagree. Take that same exact thought process into ANY other realm that Dave covers and now you can’t collect rent from your apartment tenants when times get tough. They can’t pay? You better not participate in that system and evict that single parent that can’t pay the bills.
Maybe. I think with the rewards programs there HAVE to be winners and losers. With a renter situation you can charge a fair price and provide proper services while they pay their end. Once they don’t the whole thing doesn’t work because the system is set up so that everyone is SUPPOSED to do their part. What he’s saying is with CC rewards programs is that it doesn’t even work if everyone is able and willing to do their part. There HAS to be someone going under for you to get your points. Maybe that makes sense maybe not. That being said, I’m not so altruistic and I’m gonna keep using my card wisely.
@@Blu_SlimeMe too, I love using my cards and not having to pay any Intersst. For other growing a$$ Adults who choose not to avoid Interest and not be responsible that's on them.
I mean I'd rather people use "mental health" as an excuse for them to ruin their own lives instead of acting their entitlement to something I have. I've had this one girl harass me and claim that the situation took out a lot on her "mental health" when she caused my own mental health to decrease. This phrase "m***** health" is used to speak in such unspeakably weird ways.
It's like the friendly dr*g dealer at the party 'oh your not doing cok* any more? That's cool, I've got some great prescription pills here, they're FDA approved, you'll feel awsome!'
“Usually that means someone is buying the authority of someone else to sell their product.” Does Ramsey put the PODS display out for free, or does PODS buy Ramsey’s authority in order to sell their product?
Every company, organization or even individuals are marketing their narrative to some extent, unfortunately some of these giants are also masters at it and try to prey on people, even moreso those who are in a state of vulnerability whether it's financially or psychologically.
My Tia is a single immigrant mom who wishes she had a CC. She’s doing just fine. She hustles at 60 years of age. If she had a CC she would probably be on a boatload of debt so she was better off. I love the Ramsey show but the whole thing about flying on the back of poor people..nah that’s cringe.
The points are more than paid for from retailer transaction fees. Interest on unpaid accounts is a separate revenue stream for the CC companies. The reason for not using your CC should be because you realize that you spend more money than you would without the CC.
I mean, these companies are for profit 🤷🏻♀️. Do you know how many consumers default or file Bankruptcy? That causes them a loss, they have to make it up somewhere. Lenders aren’t charity, it gets passed down to the customers. Don’t get me wrong, I totally understand what is being said here and it sucks but it’s a business
This guy wants to sounds so righteous , but when tax season come you take so many deductions to legally avoid paying high taxes ? I gladly pay mine I will not participate in that lol
I am a single mom, it boils down to this.... No one is coming to help you, so you gotta figure it out, and that means you budget, cut out the unnecessary, and IF you can work overtime, take advantage, or get a side hustle.
Nicely stated!
If it was easy we would All Be Millionaires
Well said! I'm a single mom as well who managed to pay off my home and my rental following this plan. Anything is possible 🙌🙌🙌
God bless you
W was a
In life there are winners and losers- not everyone can be a winner guys , that’s why Dave’s TH-cam channel does so good.
And his radio show does much better
Exactly!
As respectfully as I can say it, this is incorrect. In life, there are either those saved by Jesus, or not yet saved. Riches stored up on earth will come to nothing. When you die it will not save you or have any value. People will ignore and mock this warning up until it's too late.
@@RiSkyNick Well said!
The wealth of this world is in the hands of few (10%)
The best advice I can give to anyone is to never put yourself in a position that you owe anybody, because as long as you owe them, they own you.
"Leading a sheep to the slaughter." Extremely well said.
Yeah that sent shivers on my arms because it is so true. It’s highly intelligent but immoral people, manipulating overly emotional, less intelligent people who follow the herd mindlessly
"Possible" recession? Are we still pretending we aren't already in one?
Depression, not recession.
Technically we aren’t anymore of you go by the technical definition
When I was looking at getting my master’s degree, one college’s financial advisor had even worse advise about vacations. She took the leftover student loan and went to Mexico for two weeks. I couldn’t fill out the application with wisdom like that coming from the counselor.
Yes, bad advice.
But how was it bad advice? Did she tell other ppl to do that or that’s just something she did?
@Reese If she did it, she obviously thinks it's ok to do. I'm sure she tells others.
@@jimroscovius that’s not obvious! Ppl do stuff all the time that they wouldn’t recommend other ppl to do
@@jimroscovius 👍
I know it’s not “paying off debt” but switching to a zero percent while doing debt snowball makes ALL of my payment go on the principal. Especially when our interest rate is 20% plus
But you also have to factor in balance transfer fees which is usually a percentage of the total transfer. It may not be as much as your interest with a previous card, but your payment is going to the principle which is now a larger amount.
I see zero fees all the time.
You are not at war with your life, but you are at war with the system. I encourage everyone to play the game and take advantage of companies when you can.
I have a sister who is 54years old, no retirement saved and takes vacations to Vegas and Florida.....just this winter. She has no plans to save, her plan is to get married and let her future husband take care of her. Too scary for me. Hope this plan doesn't fall through because she will be on a struggle bus. Yikes!
You do realise that the banks have no money. So any savings, investments people have will be worthless in the future because the money you think you put away doesn't actually exist. We're heading into a massive depression which will be similar to the Great Depression of 100 years ago.
Every single bank in the US is broke?
yiiiikes that’s terrifying
@@lepolhart3242There is no room for fear in love. Trust in God, Creator and loving heavenly Father, and obey his word ( including these biblical exortations - dont borrow, get out of debt, save and spread your riches ) He provides for us if we are seeking His kingdom and get right with Him.
People live way beyond their means.. must have new everything
I use a rewards card - and it's paid for many flights. I pay the card off at the end of the billing cycle, so I never pay interest. No guilt whatsoever.
same here. it sucks but life is all about your choices and no one else.
Yup..nothing for me to get 1k cash back every year..never have balance..it's not for everyone
@@davidnonnenmocher5122 wow. $1000 back. You're not exactly going to retire tomorrow. You're still not winning no matter what.
thank you someone’s got to tell em
All smoke and mirrors. It’s like rearranging the deckchairs on the titanic.😮
You know this thing called a staycation? If your vacation time is use it or lose it and you have a lot of time to use at the end of the year. Take the vacation time and stay at home, do free things in your town. Pretty sure the animal shelter might let you walk a few dogs.
So, you don't buy and sell stocks? Very often, when you profit, someone else has lost.
Not always. It's not necessarily a zero sum game...
I understand the concept of selling to consumers but at some point we should realize we're human and should not be "used" as a battery or a way to keep people rich! 🤔
The seller has a right to sell and set their price.
The buyer has a right to not buy or to pay a certain price or not.
Don't curse the sharks for biting you.
Do what you can not to be bitten.
Their priority is their bottom line -- don't forget what yours is.
At some point people need to take responsibility for themselves and their actions, recognize their greed, and take action. The people that get "used" to get rich are always the people that buy trash they dont need because they're greedy.
you just described capitalism
That's what capitalism IS.
Oh my...the "my airline points are making another person suffer" story again. 🤣
You are right. Earning and using your rewards, or not, doesn’t affect anyone else’s situation. They are just trying to guilt you out of actually getting a benefit from using your card responsibly and paying it off every month.
@@sherryberry65 It's nonsense.
Not my problem they can’t make the payments. Haha.
You are 100% wrong. Nothing is free. I won’t explain it to you. You can figure it out.
You have your moral compass, they have theirs, you can disagree but the reasoning they provide works for them.
I heard hotel rates are sky high. I wouldn't know because mine are free from Marriott
does that mean it is unethical to have shares in mastercard/visa ? thats part of the us equities index and if you own the index you are hurting the single mums owning mastercard/visa.
Personally I don't care
Yes, you are starving someone with that investment. 🤣🤣
Yes, continue investing anyway.
Exactly lol people own all kinds of stuff in their 401ks. I own sin stocks like BTI I don’t smoke but it’s a free country and I’ll make profit off people who do
Payday loan companies went out of business and were shut down cos of their practices and buy now pay later stocks collapsed
Me making cash back isn't taking advantage of single moms thats dumbest thing I've heard on this channel.
You don't make cash back at all. You really are gullible.
I agree, the sad thing is it's not the first time he's used this idiotic example to make his point.
Exactly! What a ridiculous argument he is trying to guilt people into.
Ramsey Solutions literally runs an online business but somehow no one there has never heard of interchange fees
@@ninjatv4660 Their business isn't exactly online...
It's called a debt trap for a reason. Only spend your own money! Coming from someone who literally just paid off $8,500 of debt. Don't do it. The only acceptable debt is a car or home.
According to Mr Ramsey, car debt is not good either.
A car is one of the worst debts you can have.
@Jordon Yates I'm aware, I'm A long time listener. My opinion is that it's acceptable because you're getting ahead, and eventually it will be paid off, if it's a budget buy. You can make a lot of money with a running car.
@@jordanbyatesit’s only bad if you can’t afford the payments
Sorry. Car debt isn't acceptable either.
This is cringe, John is nothing more than a yes man.
They don't take money from other people to pay the rewards, they charge vendors transaction fees to pay for the rewards
Who do you think pays the vendors?
@@sergioliberates who pays for stock when the prices fall. I think everything technically is against the retail person depending on how you look at it. If you are truly against it, best to just use a High Yield Savings Account.
This is true there really is no opting out. All prices are permanently higher because of transaction fees. The places that offer a lower price for cash are rare.
With exceedingly few examples, you pay that transaction fee whether you pay with a card or plastic.
One piece of advise that Ramsey has alway gotten wrong. At least if someone isn’t going into debt there is literally nothing wrong with earning rewards on what I already was spending.
I've heard John tell the story about his card several times now and every time I hear it I cringe even more.
Yeah, its the same logic of "nobody should be a billionaire because they got that way from those struggling with money".
He sounds like a liar
Yes, he refuses to take advantage of free airfare for moral reasons......Ok😒🙄🤥
Plus not a single mom anywhere was helped whatsoever by what he did.
He knows nothing about finance. Thats not how it works. Yet he pretends he knows lol
Business institutions are not a friend of consumers, they are not
If your treat a rewards credit card exactly like a debit card, no bad things can happen to you. I’m taking my son to London for a week next month and paying NOTHING for flights and hotel - it’s all covered by points (minus the $400 in airline taxes and fees). I’ve never paid a single cent of interest and my credit score is over 800, which helps keep car insurance down. I have no idea why Ramsey keeps this position so steadfastly.
That logic is so flawed. No you’re not taking away money from people that struggle. That’s such a scummy way of blaming other people for their own poor financial decisions. Besides I’m kind of tired of this sad single mom thing. Majority of single moms are literally in that situation by incredibly poor choices they make in life. People need to take accountability
Not everyone has the same choices. If what you said makes you feel better that's on you.
Women need to understand that they need to be protected and cherished.
💯
@@bc_usawrong. They chose poorly many times to end up where they are.
What logic are you talking about???
Wow! Was wondering if he’d work in the word “safe.”
He missed an opportunity to use “tired”.
So me not taking advantage of cash back is going to save the single moms? Gtfoh
There are NO free lunches!
If half of y’all would even listen to the convo instead of just hearing what you want. You would realize both Kristina and John are right.
Why do you keep saying
" possible recession"??
Please do you know the definition?
We ARE IN A RECESSION!! Where is Dave btw?
Dave would also use "possible recession" Dave wouldn't believe inflation was happening until he could no longer deny it - i agree debt is no good- thats about all i agree with Dave on these days. And these two 🙄
This is how capitalism works: someone wins and someone loses. It is always the poor and desperate ones that lose.
💯
You sound very bitter from your own life choices Kayla. You’re completely wrong on what capitalism is
Capitalism creates more millionaires than anything else.
Such a great description of how your brain works. Thanks.
Saying your not going to use free money and discounts because their taking it from single moms just means the CEO will gladly put it in his pockets lol
He saying he doesn’t want to be a part of that CEOs immoral business
@@paulc3749 i get what he is saying, but if anything he could use that cash back or points to give back to those single mothers he is talking about 🤷🏾♂️ because i promise him simply doing nothing isn’t helping anybody
@@depaduser1 , but he is doing something , as in not participating don’t you see. If everyone followed his lead, the CEO would have no business
@@paulc3749 Put them in a soup line!
@@alinatamashevich3354 put who in a soup line?
So glad i don't go on vacations, at my rather low income, if i did vaca, i'd be canoeing up sh*t creek. Instead, i stay home, and am free of mailbox anxiety. And that's priceless:)
If you pay it off every month. Nothing is wrong with it.
John's using strawman arguments as to way he stopped using them.
Most people dont.that's the problem.
@@angeluceta5688 that's *their* problem.
@@angeluceta5688 Not everyone does.
I am talking about for the people that do and can pay it off every month.
@@jimmymcgill6778it's an appeal to emotion argument. Inherently flawed. I do like the guy and a lot of the time he's really good. But instances like this are why you probably shouldn't just blindly follow somebody.
@@jimmymcgill6778 I just don't see the point on dealing with snakes to get 10$ on spending 1000$.that's not gonna determine you being wealthy.budgeting,discipline,relationships will though.
Zero interest cards are a good way of " stopping the clock" while you pay the debt down. Obviously the company is hoping you will spend on it, at which point they can whack you with extra high interest. But if you cut up that card immediately you get it ( don't, for heaven sake, keep it "just in case" ) and then pay it down, you are not losing any more money to interest, just paying down the principal. We did this and are only a few months away from " debt free except the mortgage"
I use my Amex and pay it off every month. No interest, I replaced my dishwasher, dryer and washer all with points. I live relatively frugally too. Lol to all the people who use cash and debit cards. Not to mention the added fraud protection of using an AMEX as opposed to a debit card that goes directly to your checking.
Not sure I agree with that argument. Would they make the argument Dave is taking homes away from people with his vast property portfolio. Single Mums across the country are being robbed of high rents. How dare they!
Giving up CC must have been a requirement for getting hired as a host at Ramsey.
They’re all yes men. I understand every workplace has its own code of conduct, but it sounds like you give up your brain when working at Ramsey solutions cause they force you think like Dave only.
I agree 😂
What a great requirement.
Or hide it really well.
To be hired you have to agree with the DR way. I’m pretty sure they chose to apply and work for DR. Which means they 100% agree with the baby steps and no cc rule. It’s call making a choice to live that lifestyle. Just like it’s my choice to have a cc. Which means I wouldn’t apply to work for them. No one is forcing them to be 100% on board. In fact I’m pretty sure most of them found DR and the BS prior to working for DR. And I’m sure the reason they’re on board is because it worked and got them out of debt.
Omg that single moms story for not getting a flight 😪🙄🙄🙄 c’mon Deloney
It seems very emotionally manipulative-ish for a “mental health expert”. 😂
@@lindsaysimplified He always gives off the slimiest vibes of anyone on their team.
Whether you win with points or win without points, someone is always going to be losing. I’ll take the W and keep moving. It’s not my fault people are constantly spending more than they have or living beyond their means…
In order for you to "win" financially, it's on the backs of other people. Global equality would mean everyone has a $70k net work and earns $7.50/hr.
What do these Ramsey personalities think of coupons? Or companies selling things as 'loss leaders'? Do you think they aren't making up that profit by charging more things for some other products? What is the line when it comes to refusing to use products that use business practices that may give you a discount or premium while charging full price to someone else?
Exactly, what about those "digital deals" or digital coupons at grocery stores? Guess what, they actually HELP people in lower/middle income quintiles stay within their grocery budget, if they use them correctly! So why is this wrong for other income quintiles to use cash back/points/travel rewards when they use their cards correctly by paying in full every month? I pick cards that have cash bank/points on categories that specifically apply to my regular monthly bills, like groceries, utilities, phone, gas. Look at your monthly bill statements, there are always some kinds of tax and/or fees tacked onto your base cost. The card cash back/points help to partially offset those pesky taxes/fees.
@@jeromehenry4484 It's wrong because the money for your rewards is coming directly from those who carry balances month to month and are getting charged usurious rates of interest. There is no comparison with your digital coupons, which is silly.
About 40% of people are responsible enough to pay of card in full every month and meet savings goals. These folks don't have debt and don't have emotional issues with spending.
Those folks can ignore Dave and use cards as tool if they want to. The rest of folks are just better following Dave advice to the T
the "recession" has been going on for a long time...
That's right 👍
They haven’t felt it yet cause they are rich
@@neilsmith9066 I'm far from "rich", and I'm not feeling it.
Maybe it's because I'm debt free, including a paid for house.
@@4wdboss230 Great!
Only a year...
There goes John simping over single moms again.
Newsflash: They did it to themselves.
John's comment about not using the card to get free flights because of some single mom out there at 32% interest and somehow he is responsible for her cc interest is just silly. First, he has to tow the Ramsey line and cut up his CC. Second, show me the CC with 32% interest. Third, John didn't make that single mom, or anyone, sign up for a CC she can't pay down. Fourth, just because he was required to cut up his CC to join Ramsey doesn't mean anyone stops paying interest on CCs. Companies charge interest on CC because that's how they make money and someone not using them for free flights just ensures they keep more of their money.
Not to even mention where their smart phones get the batteries from
Thank you for saying that John
For good or bad, there are winners and losers. Life is not about participation trophies.
You don't have to contribute to someone else's loss. I'm not sure why that's so hard to understand. Let's keep it reall.
@@bc_usa I do not believe this premise is correct. Unless you're like my corner diner who adds the CC fees to his overpriced waffles (he owns the whole building on the UES for gosh sakes), retailers/sellers use CC fees in their pricing. Fees pay for profit and rewards. They also cover delinquencies and defaults.
This is why I read articles online with a grain of salt nowadays. "Experts say..." Which experts? Who?
So debt 💸 equals happiness? Ugh 😩 🤦🏼♀️ ridiculous!
It's always a win lose game in money, unfortunately
A rising tide makes all ships rise. Unfortunately the tide is going out at the moment.
So, you do win with points. Dave again is wrong.
Fess up, Doctor. You *only* dumped your CC when you went to work for Ramsey because it's his mandatory mantra. You enjoyed the points and miles. Now you say that those that use CCs and enjoy points/cashback/miles are moral sinners riding on the back of others. You know darn well those others will always be there and you know the reason also. It has to do with their poor life decisions and I refuse to let you drop guilt baggage on those that use CCs to their advantage. Please stop pontificating.
4:02 never thought of that! Thanks for opening my mind!
I will continue to squash people who are desperate for free flights.
1st one robbing Peter to pay Paul basically 🤦♀️
They had us in the first half not gonna lie
Greed pure and simple. The corporate world would like to sell all of us down the river.
Sorry, but you can't hate the player in this.
Corporations (due to their investors/owners) focus on their bottom line, and it's up to you to focus on yours.
If not, then you're just a bucket full of "bloody chum".
We have already been sold.
How do free airline flights cause someone else to pay more interest? Every time I swipe the card, the bank gets paid by the merchant
I'm a single father, my finances have improved since since the mother left,, single is not an excuse
I'm loving the Avett Brothers mug, Doc!
I'm going to buy "Arbitrages For Dummies" with my cash back rewards and ship it to Baloney. I will have the BLOOD OF SINGLE MOMS WITH THREE KIDS on my evil hands.
Thanks!
At the 4:30 mark I had to disagree. Take that same exact thought process into ANY other realm that Dave covers and now you can’t collect rent from your apartment tenants when times get tough. They can’t pay? You better not participate in that system and evict that single parent that can’t pay the bills.
Maybe. I think with the rewards programs there HAVE to be winners and losers. With a renter situation you can charge a fair price and provide proper services while they pay their end. Once they don’t the whole thing doesn’t work because the system is set up so that everyone is SUPPOSED to do their part. What he’s saying is with CC rewards programs is that it doesn’t even work if everyone is able and willing to do their part. There HAS to be someone going under for you to get your points.
Maybe that makes sense maybe not. That being said, I’m not so altruistic and I’m gonna keep using my card wisely.
That’s a good point
@@Blu_SlimeMe too, I love using my cards and not having to pay any Intersst. For other growing a$$ Adults who choose not to avoid Interest and not be responsible that's on them.
That single parent that can't pay bills but still goes on vacation every year
Here's how to get out of debt, get into more debt! Genius
but with that reasoning you literally can't do anything in life because everything is interconnected.
I mean I'd rather people use "mental health" as an excuse for them to ruin their own lives instead of acting their entitlement to something I have. I've had this one girl harass me and claim that the situation took out a lot on her "mental health" when she caused my own mental health to decrease. This phrase "m***** health" is used to speak in such unspeakably weird ways.
I like what you guys said about the single mom paying for your flights with their interest.
These two people are experts on nothing related to finance and have no legitimate reason to have a microphone in front of them.
Is there a devil’s argument for the case of single mom’s 34% apr is paying for my card benefits?
It's like the friendly dr*g dealer at the party 'oh your not doing cok* any more? That's cool, I've got some great prescription pills here, they're FDA approved, you'll feel awsome!'
Im pretty sure Psych Central just lost a lot of money 😂😂
Your are lowering your debt by changing to zero percent.
What a horrible way to attack a caller !
“Usually that means someone is buying the authority of someone else to sell their product.” Does Ramsey put the PODS display out for free, or does PODS buy Ramsey’s authority in order to sell their product?
Who falls for that, though?
Every company, organization or even individuals are marketing their narrative to some extent, unfortunately some of these giants are also masters at it and try to prey on people, even moreso those who are in a state of vulnerability whether it's financially or psychologically.
My Tia is a single immigrant mom who wishes she had a CC.
She’s doing just fine. She hustles at 60 years of age.
If she had a CC she would probably be on a boatload of debt so she was better off.
I love the Ramsey show but the whole thing about flying on the back of poor people..nah that’s cringe.
Oh, jeez. Bankrate needs to go bye bye 👋
8:23 is where it's at.
Johnny Baloney
How can such bad advice be pushed like this? It's trapping unsuspecting folks and taking advantage of those who might not be financially literate
The points are more than paid for from retailer transaction fees. Interest on unpaid accounts is a separate revenue stream for the CC companies. The reason for not using your CC should be because you realize that you spend more money than you would without the CC.
I am not a system. Good for a T-shirt
can people have Meaningful careers rather than being slaves forever
madness ... marketing ,.,.,. is there a difference?
The word ashamed in the dictionary has been has a new meaning. No one is longer ashamed 😂
3:48 my comments they probably sold you personal information
I mean, these companies are for profit 🤷🏻♀️. Do you know how many consumers default or file Bankruptcy? That causes them a loss, they have to make it up somewhere. Lenders aren’t charity, it gets passed down to the customers. Don’t get me wrong, I totally understand what is being said here and it sucks but it’s a business
Some YOLO advice..
4:10 - 🤏🕶️🤨
such a ridiculous point by dr john
This guy wants to sounds so righteous , but when tax season come you take so many deductions to legally avoid paying high taxes ? I gladly pay mine I will not participate in that lol
payday loans
Bankers and Small Hats are infamous for being ruthless when it comes to profits over people's livelihood.
Only if you're not one of them. They're the most sycophantic group of people on the planet. They loook out for each other, and despise the rest of us
I totally support what the hosts say in this video.
It’s not a recession?
*Not really*
I need to know where @thedrjohndelonyshow get's his shirts.
I bet he still gets free flights but Ramsay show pays for it now. He just found a different avenue to get those flights
Preparation h what?