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re: How many of you follow Dave Ramsey's advice for everything?
Posted on 1/9/23 at 6:17 pm to LSUFanHouston
Posted on 1/9/23 at 6:17 pm to LSUFanHouston
quote:
If you pay it off each month, I don't understand the issue with credit cards.
His philosophy is that his debit card works just like your credit card. And there’s some kind of study that 60% or so of people tend to spend more of “someone else’s money” than their own, and their good intentions of paying it off the following month disappear because they ended up spending too much. It’s all about discipline I guess.
2
Posted on 1/10/23 at 9:05 am to finchmeister08
quote:
His philosophy is that his debit card works just like your credit card.
Well except it doesn’t.
Again it’s a discipline thing which is why he’s preaching debit card. He knows it’s not the same thing and understands the differences.
Credit card is a vastly superior option if you do it correctly but a lot of people can’t.
This post was edited on 1/10/23 at 9:06 am
Posted on 1/10/23 at 4:43 pm to finchmeister08
I do think credit cards lead to people spending more money (even if you pay it off each month).
I DO NOT think debit cards offer all of the same conveniences as credit cards. Rental cars are a big one (I realize dollar is one of his sponsors that says you can do their rentals with debit).
I DO NOT think debit cards offer all of the same conveniences as credit cards. Rental cars are a big one (I realize dollar is one of his sponsors that says you can do their rentals with debit).
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