Dave Ramsey

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Diane from Arizona writes to Dave, she and her husband are currently in Baby Step 2 which is paying off all your debts. However, the one issue they are having trouble with is using credit cards. They manage to make the payments on time and when they are due and it allows them to travel from the benefits of using them. Diane’s question for Dave is what is the problem as long as they pay the balance off. Dave claims this is quite a common question but has a good answer for why you shouldn’t.

Dave lays it out for her, that by doing this she is letting the Banks and other creditors know what advertising is effective on you. He says that this problem is what keeps people using credit cards still. George Kamel states that ex-credit company employees have stated that they actively complete 10,000 experiments a year just to figure out what you are gonna spend it on. Furthermore, the cashback trade is a scam because the overall return on using it is never a good payout.

Dave wants you to know that these actions they are giving you are not free. Your airline tickets are paid for but everything else is not. You will still be in debt and should be clearing out all of it. You are not following the baby steps if you’re in BabyStep 2 and going on vacation.

Catch The Dave Ramsey Show weekdays from 1 to 3 pm on Money Talk 1010
Dave Ramsey is America’s trusted voice on money. 23 million get guidance from Dave’s radio show on Money Talk 1010, his podcasts, and videos. He’s a national best-selling author and has changed over 6 million lives with his guided money plan.

 

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