5 Money Mistakes That Are Destroying Your Finances

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[@brandonjohnson3793]

Rachel and her dad Dave are absolutely helping people all over America. I appreciate them so so much.

[@linuxsurfer2002]

"A debit card will do everything a credit card will do except get you into debt" - great words of wisdom!

[@johnsakeiyia330]

You guys have helped me a lot when it comes to finances. I'm not the same guy I used to be, thank you!

[@intergratedpurgatory1678]

Not canceling subscriptions when you don't need them is another mistake!

[@BridgeStamford]

How about not getting them in the first place

[@l4k3]

@@BridgeStamford its okay to spend money on things you use.

[@leeboriack8054]

Budget money + calories w one action: • Plan menu around grocery sales • Ingredients are the shopping list • Cook in bulk, put in serving sized containers • This avoids food going bad or unused

[@TrinaHoward]

Yep, car payments for a new car are high. I was paying $560 a month, thank goodness it is now paid off. I paid every 2 weeks (each pay period) sometimes 3 times per month depending on the month.

[@yvettesonia1814]

⁸7ppoppp00

[@alexnadon6999]

Omg i was in the same boat. Had a car, i was paying 286 bi-weekly, plus 218 month for car insurance. And where i live in Kelowna British Columbia gas was about 1.45 litre.

[@Jumpman67]

Studies have shown that people who pay their entire credit card bill every month pay 0% interest.

[@nic_ccc3366]

Most people don't do that though. She's right that something happens to most people's brains with credit cards and they spend money they don't have.

[@brendaspamperedkitchen9878]

Wouldn't that be nice, but not reality. That's why millions of people are in debt. Never justify debt.

[@LuciaCasucci]

@@nic_ccc3366 and lets not forget about how many cards charge ANNUAL FEES!!!

[@Jumpman67]

It’s true. Pay your bills every month and there’s no interest. Capital one paid for my flight to Aruba. I get 3% back on everything. If you’re bad with money, credit cards probably aren’t for you.

[@nic_ccc3366]

@@Jumpman67 You're right. But most people are bad with money, just look at the rates of debt across the country.

[@michellesun-forbes30under38]

Not budgeting is a key mistake for me just starting out. Such great tips!

[@bathokozile5591]

Am trying to have this conversation with my mom and it's tough. So am listening to this video with her

[@jocypare6019]

hope it went well. 💓

[@Beepbopboop19]

How did it go?

[@bathokozile5591]

Honestly I feel it's one ear throgh the other...she is 62 ...It is frustrating trying to build when u have family to take care of

[@stevenporter863]

Try that even huge companies use a budget. It is not an indicator of no money but taking control and being the boss of your money

[@brendaspamperedkitchen9878]

The shop I work at, their store card is 24%!!!!!!!!!! Run!!!!!!

[@bennettdavid904]

Thats where most department stores make their money!

[@EvitasBudgetingLife]

So thankful for Ramsey solutions.

[@FredDogification]

I don’t budget... I tell myself I am broke. It works great! I have a savings plan and no debt at all.

[@b4rs629]

Lol when my coworker tell me I can afford a new car... I tell them I'm broke and they look at me funny cuz' they're actually broke because they never told themselves they are broke when they they had money.

[@mationinfo]

Ok folks, change story, I are not broke. Your are wise with money. You know how to budget. You know when to say no thanks. And that is ok. You are in love with yourself because you see yourself as love.

[@michellem3huynh]

I would not use a debit card. Someone can steal your info and get into your account. I would rather use a credit card and if someone uses it, the credit card company will pay me back.

[@matthewmckibben7340]

I just finished your book, Love Your Life NOT THEIRS. My wife and I found your chapter “Talk About Money (Even When It’s Hard)” very helpful. I appreciate your comments and resources. Keep up the great work.

[@LuciaCasucci]

Love this. As dave says none of the millionaires got rich with credit card, points and airline miles even if they used it responsably

[@GarbageGoober.]

By that logic no one ever got rich off of coupons either. I guess we won’t use coupons anymore. You have to spend money to use one.

[@YanilleCastillo]

I was raised so wrong thank you for changing my mind set I have paid of $50k in 3 years thanks to your dads show David Ramsey and you now and Chris hogan . God bless you for your work. It’s changing. Lives . You are a blessing from God .❤️🙏

[@Beanz8907]

@ Yanille Castillo, youre gorgeous and im glad you got financially smart! Good on you! Keep working hard and pushing forward

[@YanilleCastillo]

@@Beanz8907 to God be the glory thank you for your encouragement ❤️❤️❤️

[@masonr1666]

I would personally add student loans to the mix. Once you get them, no matter what happens in your life, it must be repaid. Bankruptcy does not discharge that debt. It has the capacity to destroy your life, forever.

[@georgewagner7787]

That's what you should pay cash for. I did it for my master's night school. Saves 1k, took 2 classes, repeat. Took 3 years but no debt.

[@georgewagner7787]

Saved

[@TheGreatSatan_]

When I was new in the military I was roped into a whole life insurance policy. After 23 years I finally canceled the policy and emptied out the accumulation fund and had $24K. $7,000 of that was from the pathetic 4% interest from them

[@laanierhae]

I am learning more about what a waste car payments are, but I've never understood the incredibly high car payments and interest that some people are paying. I've only ever purchased new cars, but I always had a car payment below $300/mo. $4-5-600 a month is mind blowing. Why would anyone agree to that burden? That would not be sustainable for me even now, let alone back in my 20s and 30s.

[@ilivace]

Credit card is not the problem. Treat your credit card like a debit card and don’t over spend. You can accrue rewards and build your credit history, which is very important when you have to adult daily...lol

[@eileenbasiloy8803]

You’re be right. I treat my credit card like a debit card. I only spent my budget and the end of the month they pay me.

[@LordTrayus]

Think you're missing the point. She and her dad approach credit cards from a psychological perspective and not a mathematical one. Credit cards create distance between the act of spending and the act of paying. When you buy things using a credit card, the money is deducted 30 days later (or longer if you carry a balance) which creates a disconnect and the false illusion that you got something for free. Debit cards hit your bank account immediately so you learn to associate your purchase with less money, which reinforces the need the to be intentional about budgeting. A lot of the people who follow Dave don't have math problems - they have an addiction problem - addiction to getting something for nothing, temporary as it might be.

[@RoszenCariaso]

this never worked for me unfortunately so best to know your self lol

[@birdsaloud7590]

But the rewards come at the pain of others’ debts. I use two credit cards and pay them off each month, but I have noticed I spend more with them and you think you have more in your bank account than you have, and then when my paycheck comes in, a big slice comes off it immediately to pay off last month’s purchases. I don’t like it and I am going to stop using them.

[@donnaallgaier-lamberti3933]

I am age 70. I have a credit card and I have NEVER paid one dollar of interest on a credit card n my life. ZERO DOLLARS IN INTEREST! I have good self-discipline. I have ONLY EVER interest on my home mortgage. We are a BUDGETER!!!

[@elizabethbednarcik3311]

Because of you, in February I signed up for term life insurance with Zander and I did the entire will process with Mama Bear! Thank you!

[@YanilleCastillo]

Also I paid off all my credit cards last year I paid off $50,000 in credit card debt in two years thanks to David Ramsey you and Chris hogan. So now my only debt is my mortgage and ugh my HOA

[@PInk77W1]

Super awesome. My hi was $27,500 cc balance. Now zero and cut up

[@katm41]

Wow how did you do that?

[@b4rs629]

@@katm41 by making 6 figures probably almost

[@chriss7552]

Awesome.. great job.

[@chelseazapien7708]

If you use your credit card wisely and always pay your payment cycle on time has a lot of perks. I think you should have mentioned that. People spending habits are the problem not a credit card c:

[@BridgeStamford]

No she shouldn’t mention that because not having a credit card is a fundamental principle what Ramsey teaches

[@misspriss2482]

@@BridgeStamford True, but his advice is for people with no discipline. I've got a few cards and I'm good with it. I rarely if ever buy anything I don't need because I'm putting all of my spare money into my emergency fund and investments.

[@BridgeStamford]

@@misspriss2482 is not for people with no discipline. What is wrong with some people. Its for everyone ☝️☝️☝️

[@PInk77W1]

I work with 7 other people. 3 are in massive debt and eat out 2x a day. 2 have no debt 2 they don’t say much so I don’t know. 1 me, I have no debt and paid off home. I have no car, no car payment I make $54k

[@Fc9ers]

making 54k and no debt. youre ballin

[@PInk77W1]

@@Fc9ers I kinda cheated. I was living in Santa Cruz. Retired caltrans worker. Now I live in the sticks of Texas. I paid cash for my home here. You can see my house. 710 W. Ninth st. Coleman Tx. I bought this house site unseen. Lol. My gf in Santa Cruz was a realtor. She was yelling at me Don’t do it. I did it. I love my little mini mansion. I have zero debt, now I need to save save save

[@EmilyDowgialo]

What a great video!! Not budgeting was a huge mistake on my part in the past 🙈 I’ve made many mistakes haha!

[@stepdancer05afgs0000]

All of these are so true, especially the last one! As for credit cards though, you can't buy a house, car etc without having any credit at all as you'll actually be in the "no credit" category which is almost the same level as having bad credit. These days though there are other credit builder options available.

[@ghfan2011]

I always chuckle at the Ramsey team saying “Credit cards are evil! You don’t feel the purchase! Use cash!” Then follow it up with “We use debit cards!” Reason being that there is no convincing argument to use debit over credit. I disagree with the argument for cash over plastic because I found that cash burns a hole in my pocket while I can be disciplined with tracked expenses on credit, but at least there is a decent, statistically-backed argument for it. On car loans, Ramsey recommends putting the car payment in a savings account to build cash for future vehicle purchases. I’m in favor of paying cash for vehicles, but if the “car payment” is going into a savings account for future vehicle purchases, you can’t also invest it to get $1M over 30 years. Agree 100% that budgeting is essential!

[@elizabethhamill2875]

Yes I laugh every time about the Credit cards, because bottom line you get way better fraud protection from most Credit Card companies then you do with your debit card & Bank. You can absolutely learn to use Credit Cards responsibly, most people just don't. Ditto on car loans.

[@youngtimer964]

1 disagree - misuse of only 2 agree completely 3 agree but stop pushing your products 4 agree - self insure is the best plan, and stop pushing Zander 5 agree, communicate

[@annathomas8569]

I disagree with the credit card point

[@jennyfromtheblock9484]

i agree with everything you are saying fully and what kills me is the credit score if your cards are paid off they are upset ohh sorry you have no credit activity then if you are using card ohh your amounts are too high you are a credit risk i can't play their game of keep a balance of 30% on the card of what the limit is

[@mchellegilchrist2972]

Where are we getting the 11% return? Please elaborate!

[@romanticrelationshipsmoney1036]

Mutual funds earn 12-13% we’ve even 18% return mutual funds track record

[@brontec9769]

@@romanticrelationshipsmoney1036 is this up to date?

[@viviangall1786]

HELLO PLEASE ANYBODY HERE HAS EVER TRIED PAY-WASE INVESTMENT COMPANY BEFORE?

[@jo.nathan]

What is this?

[@Rio-fo9kp]

I love this woman so smart and I have never had credit cards or car payments cause all this is very true my grandpa use to say if you can't buy it cash don't buy it, but I understand why people do it cause sometimes its really hard to have the cash😅😔

[@chriss7552]

You are awesome. Love what your grandpa said. -If you cant buy it with cash,dont but it-. Love it. Cut off all my credit cards. I am done with credit cards

[@danielgreen1480]

Credit cards are a great help just if you are responsible enough how to use it.

[@annathomas8569]

Agreed!

[@krisdriver4629]

Not sure on this. There isn't a situation, emergency or routine that I can come up with that a credit card would benefit you. I know some people that pay it off each month to justify rewards but they also justify wasteful spending because they get airline points that will probably expire. I have a VISA that is 3% instant cash back but it's also a prepaid debit and not a credit card.

[@crestcoasttattoos]

Ok yes use debit card or use the freedom for the same purchases and get reward and put it right back if someone willing to give you a dollar for every $5 you spend vs spending that $5 and get nothing

[@okiedoke3126]

Invest it for 30 years and get 11% annually? Please tell me where that is possible.

[@matthewconrad2026]

They don't say.

[@daryleheard9011]

AMEN! You helped alot Rachel! Thank you 👍

[@GeometricMason]

One thing that both Dave ad Racheal do that bugs me is they pretend credit card interchange fees don't exist. Every time you use your card that merchant pays a fee. They pay it because they realize 1) people want to use card and 2) they like not handling cash. This is why banks invented debit cards in the first place. It's also the ONLY reason many merchants don't accept American Express... the fees they charge the merchant are quite high.

[@buckybarnes3803]

Eric at this point it's become their brand to bash credit cards like they are white nights saving us from evil, so they're sticking with the girl that they brought to the dance, or however that expression goes

[@MillionaireMindsetClub]

Credit card interest is a curse! 15-25% interest is how they get you..

[@viaconlon6740]

0:33 Credit Cards 2:59 Car payments 4:42 Not budgeting 6:00 Whole life insurance 8:10 Not talking about money

[@williamdavies6468]

Miss seeing Chris Hogan, but I understand why Ramsey Plus Solutions fired him because of some personal mistakes in His Life. The only thing I disagree with Dave is, everyone makes mistakes and I would allow the opportunity to forgive. No one is perfect.

[@chriss7552]

Same here, miss Chris Hogan.

[@jenniferbaugh7966]

Everyone talks about term vs whole life insurance and I get Life is the way to go, but maybe talk about what to do when you Can NOT get term life. Maybe let’s talk about some things to do when you are not in that perfect situation when you can’t just call Zander and get term life at a reasonable rate? Diabetes and other medical issues make term life nearly impossible.

[@bigcahuna42366]

A few more - owning a house in a corrupt HOA, marrying a person who is financially illiterate, and buying a timeshare. My point pretty much centers around the situations people can get roped into and the funds they throw away on a constant basis (not just one time), with these situations very difficult to get out of.

[@cindyzuniga9737]

I'm on baby step two but don't know when I will get out of it. I'm getting discouraged. How can I create a better plan with an end date.

[@chriss7552]

Hi Cindy, you can do it.,dont give up

[@leeannmartin5235]

Thank you, Rachel!!

[@ThuyLinh-iz4pk]

I used credit card only things that I need , not things that I want or like. I pay off full amount each month . I get cash back if I pay cash I don’t get any cash back!

[@dirkdiggler7990]

Charity starts at home for me que no ese🤣

[@docterry0]

Actually, the perks from reward credit cards are partly paid by the actual store or business that you used the card at.

[@liammclaughlin9917]

had a credit card for 45 years, my total interest payments = $0.00. i never paid one cent in interest. People can use debit cards the same way as a credit card. People can also spend cash without much thought. The only difference is that you don't go into debt. People need to learn how to spend.

[@4imee198]

Yes, thanks I get to this vid bc I saw your dad talking about spending so much in food. That's something I realized I struggle with, thank God for you and your family! :')

[@KariRae12]

So if credit cards are a big no, how are you supposed to get a credit score to buy a house and such?

[@marlonbravo9466]

Valuable information! Thanks for all the work you do for informing the masses. =)

[@moneymechanics77]

Thank you for these great tips! You can't go wrong following all of them!

[@englishrose4388]

I would love to hear more about how to buy a used car that is not a mistake...most people I know, who don't have car mechanics savvy have bought lemons (even checked out by their mechanic). All for the idea of a used car, just have seen so many mistakes and don't want to do that, so would love more detail.

[@Fc9ers]

new car break down too. the chances of you having to buy back to back to back used cars because they keep breaking down is pretty slim i bet. unless you have that much bad luck. by used, pay cash. if it breaks down you at least dnt owe anyone.

[@kodomotachi1]

This may be the most basic of things, but make sure you get the repair & ownership history of the car (how many repairs? What was repaired? Was it driven by a teen, a soccer mum, a competitive sportsperson? - these give you an idea of the the kind of wear and tear it has suffered); is the number in the odometer logical for the age of the car/area/driver (was it really only driven around by the kom for shopping trips, or all around the state every other day,...); And of course, was it garaged indoors or out, in which kind of weather (rust in snow areas affect all the metal in the underbody, such as the axes, tyres, and brakes, not just the sides and doors)

[@englishrose4388]

@@kodomotachi1 Basic is what I need--thank you.

[@georgewagner7787]

Get a 1 or 2 year old Toyota from the dealer. Ive had mine 10 years and only did repairs twice plus 1 set of tires.

[@JoseSantos-tb7my]

I pay off my house .i have no debt .i follow them .

[@laurafowler2699]

still have to be careful with debt cards make sure you know how to use it ,I didn't and had a lot of charges ...

[@sarahchanaiwa9379]

Hey there! Just have a question . We are on baby step 2. I’m just wondering if you can still doing the steps and purchase a term life insurance etc... any advice or comments welcome. Thank you

[@myluvs2931]

I understand how new cars lose value once you drive it off the lot, but used cars near me are trash. You spend so much repairing them and honest, good mechanics are hard to find. And a car is needed to get to work. And people don’t have 20,000 to pay for a car in cash. I had zero interest on my first car and it lasted me 17 years. Never saw it as a waste. It was 250 a month. I didn’t have any other bills at the time since I lived with my parents. So that part is hard for me to understand. I’m a big at budgeting! Always have known where every penny goes. I’ve always had term insurance too. Appreciate your tips though! 😃

[@YanilleCastillo]

My son. Has a car I paid $10,500.00 for it so no car payment should I just have him take me to work and back only Work 3 shifts I’m a RN. To save more for a car ?

[@bradwilliams4921]

Thanks for the video Rachel. I keep a small credit card as I am unable to build an emergency fund. I think that I was better with money when I did not budget. I currently have a whole life policy but plan to cancel it and get a term life insurance soon. I currently draw SSI so I do not have enough money to talk about with anyone.

[@birdsaloud7590]

Great video! My hubby hates talking about money though! It is a tough one!

[@PInk77W1]

Don’t talk. Actions speak louder than words. I’m not trying to be a smart as.

[@barbarafallin2038]

That's great, it took me 17 months to pay off 10,000, now working on one more card and car payments

[@motive7475]

Debit cards can be scammed easily though. And then your relying on your bank to give you a break. At least with credit cards you have more security

[@Fc9ers]

use cash then

[@Sexy40baby1]

I don't buy vehicle for value. I get them for transportation.

[@themovingaverage6087]

I make huge profits on my investment since i started trading with Ryan Jeffries, her trading strategies are top notch

[@wendygamboa1993]

wow! amazing to see others who trade with Ryan Jeffries, i'm currently on my 5th trade with her and my portfolio has grown tremendously

[@jamesoncarmen6594]

I invest with Mrs Ryan Jeffries too, she charges a 20% commission on profit made after every trading session which is fair compare to the effort she put in to make huge profits

[@lindacool8870]

As a first time investor I started trading with Mrs Ryan Jeffries with just a thousand bucks. my portfolio is worth much more than that now within just weeks of trading with her

[@juanyyprnna4766]

with the consistent weekly profits I'm getting investing with Mrs Ryan Jeffries there's no doubt, she is the most reliable in the market. such a genius

[@themovingaverage6087]

@@annawachowicz208 You can reach her through Telegrm

[@gotellhismercy]

Don't forget how much money CC companies charge in processing fees to every Business who accept credit/debit card payments. So they make money coming AND going

[@yvonneh.3618]

The credit card company's charge the retailer accepting a cash back card more of a percentage ,so they aren't giving consumers anything, the retailers do. It's hard for small businesses to pay that extra charge.

[@eve_in_paris]

Brilliant ! Hello - and thank you for the good advice- from Paris...

[@buckybarnes3803]

Hi eve I'm coming to Paris this summer see you then

[@Noname77331]

Good stuff!

[@redbullwiseman4805]

Car payment So true Once our cars pays off Soo much more money left for food and gas It’s like we are rich

[@islandmama]

Reliable used cars costs money too. You all give advise to people who have good jobs and make good money and just waste it with unnecessarystuff. Yes there are a lot of those out there. You're not talking to people who are really struggling. They take public transit and clip coupons and miss meals cause they only have so much money to spend.

[@brendaspamperedkitchen9878]

I've followed Dave Ramsey for 11 years and yes he addresses everyone. I have two jobs, clip coupons and shop responsibly. When all this virus stuff hit last year, I began saving for an emergency fund. It's amazing what you can save when you don't eat out everyday, and I'm talking no taco bell either. When our son went to college, we didn't have money to get a car for him. He rode his manual scooter everywhere or walked, and did this for 4 years!!!!! So yes, Dave addresses everyone, who will listen and take his money plan seriously.

[@D.Wright1]

There are many life insurance companies oit there. Anytime someone recommend one company, mindful.

[@buckybarnes3803]

It doesn't matter which particular insurance company. Talk to an agent who is a "broker" and their software will automatically quote you with 20 different insurance companies. Your unique situation will dictate your payments and not the insurance company itself

[@Dontwantahandle111]

You always leave out the safety factor when talking about debt cards. I was working a flight to Cancun while my CC was used fraudulently in Ca. A fraudulently used debt card can put you into an overdraft situation. A CC can’t. Plus, many hotels will charge a $250 deposit when using a debit card. It’s usually a 3 day hold.

[@JohnSmith-bs9ym]

Yeah I have a credit card but I use it to build credit score. I pay it back immediately and have not paid a single cent in interest in the last 12 years. The problem is not the debit or credit card. The problem is people not having self control at all.

[@georgewagner7787]

Have 2 debit cards. One linked to a small account and one that you leave at home

[@cbhitman1174]

Can someone explain the big deal about cars losing value as a reason to not buy them? I’m not buying a car just to keep trading it in for something else. When I buy a car, I drive for a minimum of 10-15 years. My main concern is that it’s going to last. I understand wanting to get out of having a car payment fast but I’ve never understood the emphasis the Ramsey people place on the car losing its value as a reason not to get it. I will usually buy a car 1-2 years old with 20,000 miles or less and drive it forever.

[@YanilleCastillo]

I know a multi millionaire who says he won’t pay more then $4.500.00 . But also I’m scared to buy something that price and it falls apart on me any tips guys ?

[@joebadgermoneymentor8436]

Check out the Scotty Kilmer car Channel on KZbin. He talks about the best inexpensive yet very reliable cars. He often talks about Toyota Corollas, Honda Accords, and Lexus in the luxury category as lasting forever with inexpensive repairs. Just expect to pay a little more for them used because they are popular for being reliable.

[@YanilleCastillo]

@@joebadgermoneymentor8436 thank you so much I will 🙏❤️

[@MadmaxMusic93]

I have a couple credit cards but I have 0% helps to have amazing credit though

[@runningwithshemp]

With the frist point Frank Abagnale Jr. (The real Catch me if you Can guy) advocates for credit cards over debit credit as adds tier of security if shopping on line or traveling. Debit cards have heaps of risk when dealing with vendors or merchants as assume the liability for lose money. I've never over spent or paid interest but now that postal service is getting weird, my house and car insurance lapsed because it took 4 week in what should have been less than 7 days. I've been sending credit card bills in flat rate priority envelopes at great expanse and even that is now faltering. A week ago my mother sent a bill 3 week ahead on flat rate priority it was one day late and she was bill $30 late fee plus interest. Frist time in 50 years of using that card and she promptly closed it down.

[@buckybarnes3803]

I saw Frank Abagnale in person and you're right. Also my bank which is Chase told me they have a lot of security problems with debit

[@alexanabolic5099]

Budgeting should really be first

[@leeboriack8054]

Glad I found you!

[@YanilleCastillo]

Ordering your book as I watch this right now can’t wait to get it

[@cheekychipolata]

Surprised that not having an emergency fund wasn’t on the list!

[@stevenporter863]

I am too suprised emergency fund, cash reserves or whatever you want to call it isn't on list

[@keepontruckin5862]

Amazing information thanks

[@englishrose4388]

Alamo, Budget, etc. Just need a deposit down of like $200.

[@mariabowen7770]

Thank you ; very useful. Video🙏

[@crack1270]

What if i only use less than 1% of the total debt available and pay that off three days later in order to get my credit my credit to 800 + to help with the intrest rate on my home

[@miketheyunggod2534]

Who else here is in the 80O+ credit score club? Don’t mean to brag, but my wife and I each just hit 830. 😁.

[@temitao]

I never ever wanted a credit card, I don’t spend more than I have (ever) but I have no credit history! I just got one this week to improve my credit history haven’t even used it and I’m terrified. I’ve read all the small print 100 times! I also watch at least 3 videos a day on how credit cards try to catch you out .. I’m a little obsessed! I’ve already set up a direct debit for the full amount each month. Any more advice on improving your credit score with a credit card? Great vid !

[@birdsaloud7590]

Hi, I think Dave Ramsey has spoken about this in his shows, basically if you don’t use debt you should be a safer option to trust to buy things than someone who does! If you can save and use cash then I think most places will accept your custom! If you must use a credit card to help with your credit score (Mr Ramsey would not like me saying that though!) then perhaps just use it once a month for a 10 dollar spend and that’s it. It will get paid off in full each month through your direct debit so you should never have debt accrued and if you keep your spend the same low amount each month then you are in control of it and not the other way round. Don’t be tempted to spend more on it like I did, then you start living paycheck to paycheck and dreading the credit card bills each month. Ever since I saw Dave Ramsey, I got rid of my credit cards and paid them all off.

[@temitao]

@@birdsaloud7590 Thanks for the message. I’m planning to do one food shop on my credit card a month and that’s it. See how that effects my borrowing history for a couple months ect. I don’t see myself getting roped into ever not paying it off in full every month but the stats do tell otherwise. Right now I feel I’m too smart (arrogant) to do that but the amount of debt people get themselves into says otherwise!

[@birdsaloud7590]

@@temitao You do have to be disciplined because I too, set up a direct debit to pay mine off in full each month, but I got tempted to use the card more every month so that each month I dreaded having to pay the last month’s credit card bill as it took off such a large chunk of my paycheck that I had tried to forget about! I would look at my balance in my checking account thinking I had ample amount in there to see me through the month then I would realise with dread that half was going to come off to pay last month’s credit card bill! I also made a very silly mistake by taking out THREE credit cards to give me more ‘flexibility’ then I got all in a muddle! I was so relieved to get rid of them and feel so much more in control of my money. It also makes budgeting a whole lot easier! Last thing - try to arrange your direct debit at the start of each month so at least you know it’s paid and out of the way! But really, this whole credit score thing is a con by the credit lenders to make you spend more so they can make more profits!

[@temitao]

@@birdsaloud7590 Yes I agree it is a con. Not having a credit card alone should be positive thing. Thank you for your advice!

[@Fc9ers]

@The love Below. just stay away from credit cards. you had to read the fine print many times. not worth the hassle and stress just thinking about them. youre playin with fire. just build money. credit overrated, not needed.

[@kaileymicelotta5606]

I value the knowledge that Rachel provides but the way the life insurance policies were explained isn’t 100% correct.

[@cmritchie04]

(6)Illicit drugs (7)lottery tickets/depending on the lottery for a second source income (8)Cigarettes

[@abbyhill8631]

I only owe 2000 dollars on a 2007 car. Loan from personal friend. I pay 75 month. Do you suggest I pay more?

[@nnetti3]

This should be updated

[@YanilleCastillo]

I totaled my Mercedes Benz but I found it a blessing each time it broke down it was 2k it was a 2012 . Only thing is I only took home 4K cuz I owed Santander on Benz 6,500.00. So I took home Only 4k. I don’t know what to buy I’m trying to save 4 k more to buy a 8 k car

[@PInk77W1]

My friend bought a Nissan Sentra for $1200. Drove it to work for 10yrs. He only lived 3miles from work. My co worker just totaled her car. It was a $10,000 loan. Insurance paid off $6600 owed. She got nothing. She was complaining all day how she got ripped off. I couldn’t take it no more So I blurted out “You made out like a bandit. You have no more $300 a month payment. You can go by a cheap car.” I don’t think it worked.

[@buckybarnes3803]

Yeah but I'm sure you look hot in that Mercedes. Also I bet you it was built to protect you better in your accident

[@YanilleCastillo]

@@buckybarnes3803 hmm u have me thinking is true

[@taorminasicily3469]

Pay check but cash is better.. I want to pay the used car at offleaseonly they don't want check only accept debit 💳.

[@MonsieurDee]

How do you build credit.. Without credit?

[@Fc9ers]

build money so you wont need credit

[@fififinance7469]

Top notch! 😍

[@audioalt]

I am in need of a vehicle. I know car loan not good idea, I thinking of taking a personal loan instead of car loan. So I will not have to have full coverage on the vehicle. Any in put to what I am thinking?

[@PrincessMeganElsaBoo]

This help alot!! 👁️👁️

[@iLiveLifeOnPurpose]

Great tips on money and finance.

[@fozzysworld9039]

I don’t have a balance on my credit card. I pay it off the second it posts. Soooo is that bad?

[@allenmorgan4309]

If I have my truck financed at 3% and I'm paying the payment from the returns from my investments that is getting 9% aren't I coming out better than if I sold off the stocks to pay the truck off?

[@armored-clown]

Credit cards are always a super hot topic but in reality in most of American society you cannot financially function without a decent credit score. I only have two credit cards which have never once charged me a cent of interest over the course of 10 to 15 years. And it helped increase my credit score from about 450 to now 800 by using it on things I purchase anyways like gas and groceries only and then pay the bill every single month. The reason why I care about my credit score increasing so drastically is because when I went to refinance on my house I was able to drop my interest rate from a 3.875% down to a 2.2% interest rate on a 15 year fixed mortgage. Not only that but when I went to go get my Eye Surgery they were offering a bonus of $800 cash back to which I already had all of the cash on hand to pay for my surgery but by just using the credit card for my surgery which I was going to pay for anyway saved me $800 that fast. My example is of someone who is very very meticulous and careful about credit card use and I understand that that is by no means the majority of people.