Dave Ramsey Says Credit Card Lovers Should be TERRIFIED – My Reaction – The Credit Shifu

Lol that vixen article had a capital one credit card ad🤭🤭

Dave Ramsey is kind of a moron though. He is living in what life was like for a white man in the 60 and 70s and he insists that this is how it still is for everyone no matter who you are and that if it worked for him it should work for everyone

Dave Ramsey is for financial beginners or people who can't control themselves and make horrible financial and life decisions. He's like a strict dietician for a morbidly obese person but with debt.

The major issue I have with Dave is that he doesn't educate his audience with the full picture. For example, he says to pay your mortgage off early if possible and only do 15 yr term max. A financially savvy person realizes that a 30 yr can become a 15 yr if you wish to pay extra but a 15 can't become a 30 which kills flexibility in times of emergency. You'll be stuck with the larger payment. He also doesn't educate them on money they'll lose out on in the market by paying off a low interest mortgage early. Paying off your mortgage early isn't bad. It's all about your goals and risk tolerance. However, he never shows his audience the other side of the coin. They'll lose thousands in unrealized investment income by paying the house off early (assuming the rate is low).

All in all, I'm just not a fan of Dave's. He is too simplistic and set in his ways. He shows extreme bias and isn't willing to hear other opinions. I enjoy watching some of his content but often find myself shaking my head at his advice. I also could do without the religious aspect as well, but that's a whole other topic.

100% of the cc youtubers preached paying off your card balance at the end of the month. The only difference with Dave is he wanted you to cut up all your cards so there is no end of month statement to deal with. Less worry to deal with versus some worry for those who play the cc game.

I just realized who Credit Shifu reminds me of….
Tim Westwood.

I have never carried a balance so it makes me no difference.🤷🏽‍♀️🤷🏽‍♀️

Dave Ramsey is a scam.

Uncle dave is awesome 👌

Dave Ramsey also has a habit of injecting religion in money issues. Screw that guy.

Clark Howard > Dave Ramsey

They’ll go after the middle class credit card holders, but not the merchant speculators, the PPP recipients. Makes you think.

So Dave just wants to pray on your fears so you take his classes and buy his books because most people aren't responsible for their finances. People who watch Credit Shifu are already counting their pennies. They just want to make the most of it. Not only that but with all those savings, you can invest more as well.

You missed the point about spending more. Most people here in America live up to their financial means. So once you’re out of debt and have money saved what do people do? After a while they buy a bigger house, more expensive car, and spend money because they are secure with their back up plan or emergency plans. This is not even a debate. It’s been going on forever.

The problem with Dave Ramsey is that not using credit cards doesn't allow you to build a credit history and hence you spend more money for things that you really need like a car and/ or a house. Budget properly and use credit cards responsibly to get the most out of your money. It's as simple as that.

Dave Ramsey is for people with no self-control. These people probably should not have large credit lines.

Ex. Dave Ramsey himself, went bankrupt using insane amounts of leverage to speculate on housing costs.

I remember years ago Dave Ramsey saying exactly the opposite about spending on credit cards. He agreed with you and the studies that show people spend more on credit cards than they would in cash. In fact, that is one of the big reasons he says (or at least used to say) you shouldn't use a credit card. This seems like a case where part of what he said is contradictory.