Financial Cigarettes - Dave Ramsey Rant
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- Опубликовано: 25 окт 2017
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“Wells Fargo Double ugh!” Lol
David Brow I was waiting for the double sound 😂
😫😂
I love how when he rants he crosses his arms and wanders off into his own little world, lol
It’s funny because everything he says is true
They didn't make any $ on me!!! Paid off 37k and closed all my accounts!
DeathRowToDisneyWorld 👏🏻👏🏻🙌🙌🙌🙌🎉🎉🎉
DeathRowToDisneyWorld wooohooo!! Me too!
You changed the game, that's what you did. Congrats
killing it
Congrats!
Bank Of America is a great bank.... Said no one ever...
I almost started writing a hateful response.....you got me lol
Them and Wells Fargo, never heard anything good about either of them.
@chief tp I am cashing in 100.00 from the BOA rewards card. It's been working for me. Then again they really got me with their overdraft fee scam years back.
Boa is garbage
Love this! They don't make any money on me! I live my life well with no debt and no credit cards!
Freedom In A Budget I'm on my way to debt free, only have a mortgage left. I use my credit cards for everything since I get cash back. Why wouldn't you do that? What's your reasoning for not? I'm just curious so I can learn
scprepper91 I had credit cards once In my life and went into it with the mentality that I would just use it for the same things that I use my debit card for and pay them off each month. That quickly snowballed into bad spending and living beyond my means and they were maxed out. Dave has done a lot of research on your thought process when you spend with credit cards and you spend so much more per purchase than using cash or debit card. I know some people can use them responsibly and pay them off each month but that is not the norm and they typically cause way more damage than good!!
Freedom In A Budget thanks for your input. I figured that was the reason but wanted to clarify. I like to think I'm responsible with my credit card since I do pay it off every month. I've never had an expensive lifestyle so it's been easy for me to use it and not get carried away with it. To each their own. Thank you for your reply
the other thing is risk, Your sticking your head into a bear trap, that one time you forget to pay or something unplan for happens *Snap, late fees, and higher intrest rates* I rather just pay for it with cash and not play with the bear traps
Eddie, "higher interest rates" are irrelevant to those of us who pay the balance every month. I have no idea what "interest rate" my cards carry, and I don't care, because I've never paid a penny in interest in 32 years of using credit cards. Interest rates only matter if you carry a balance. 28% of $0 is the same as 10% of $0- both are $0.
"Late fees" and interest charges are also irrelevant. All you need to do is set up autopay to avoid them. It's free and easy to do.
Dave, you are an absolute gem! I am learning so much from you. Never stop ranting 👍 America needs this real talk, we need to be slapped out of our stupidity
Zero credit card debt for me. Once you taste financial freedom, there's no going back. Cash is king. Live below your means.
Yes sir/ma’am
I applied for a credit card recently and I got rejected, because I don't have a credit score. Over 30 and always used a debit card only. A blessing in disguise?
@Lisa B actually, yes you can. You need to find a lender who does "manual underwriting ", instead of plugging figures into a computer to decide if the mortgage should be granted.
Michigan is one of the few states that uses credit score to calculate auto insurance rates. So, it does hurt here if you truly have no score or a bad score.
The only people who are concerned about credit scores, cash back, points, and airline miles are people who want to be in debt or want to stay in debt.
Yep I used to own one for the “rewards” (travel insurance, cash back etc) but guess what? They won in the end. No more credit cards for me ever. Been clean four years.
It took me $8,500 to finally cut my 5 credit cards, except for the amazon one, that shts made of metal but I sanded it out of existence and tried to use it with the message received "declined, unreadable". I cheered and the cashier looked concerned for me.
"I GOT A GOLD CARD BABY! I'M SOLID GOLD!" I lost it there xD
".... and so begins the addiction!"
I finally pulled my head from my backside on this. I'm now fully committed to baby step 2 and have already closed 4 of 10 accounts with another on the chopping block for this month. I hope to be debt free by my 30th birthday in October.
Go. For It. You'll never look back - I never have and feel great. No debts, no credit cards. Bills paid every month on time. Every statement checked from creditors (utilities), grocery store - takes an hour every month (try Gail Vaz-Oxlade when it comes to knowing where yer cash is going!).
Best wishes! Can you update?
How's it going
Congratulations!
@@STScott-qo4pw love Gail too!
I love it how Mr Ramsey says it how it is... clear and simple, he’s such a inspiration ever since I’ve come across him, I’ve paid off all my credit cards and cut them up, now I only own a debit card. Thank you for helping me see the light.
Well done!
Thanks to Dave I closed my credit account yesterday with $0 consumer or college debt at 26. I don't owe a penny for my 10k car and I've saved 5k which I also invested yesterday at 8% annual rate. One of my future goals is to become a financial counselor in my country, where stupidity is also rampant. People around the world need to start saving and investing and stop trying to impress folks they hate. The things you own end up owning you!
Where did you invest the 5k for 8% annual rate?
@@DaGleese sounds like a roth
DaGleese nowhere, someone lied to him and he ate it up. I hope he gets 8%, but he is stupid so it is unlikely
Exactly where did you get 8% annual....somethin' ain't right somewhere...THAT does not exist
@@joycetaylor8057 8% might exist somewhere probably. Its just not certain that 8% actually is going to be the return in the end depending on what he invested in. Worst case its some kind of a scam.
If someone offers you an investment with a ridiculously high return and says "no risk" at end lol then you can be sure he tries to scam you.
I love Dave's rants lol
After I got married about a year ago my finances became consolidated with my wife’s. I went into Bank of America to close a personal account because they were charging me a $12 maintenance fee for not having $1500 or more daily! As I was in the bank with a representative and closing my account she consistently kept trying to sell me a credit card even though I was there to close my account LOL! They are such a joke, she was trying to sell me on the percentages back on shopping and gas etc. SCAM SCAM SCAM
I definitely do NOT regret staying away from credit cards. I've never needed one and I've avoided all the burdens that come with them.
Only have a little bit of credit card debt left. Once it’s all cleared up they are meeting the paper shredder!
You can destroy the card before you pay it off. It feels really good to put them through the shredder.
Good riddance
Love his sarcasm 😂😂
"It beats YOUR double-wide!" Hahaha
Play stupid games. Win stupid prizes. Don’t charge things. Live within your means.
Hahahahahhahaha reddit. 🤣
Love it
$30,864 per SECOND in revenue.
ccpanel that makes me sick to my stomache, all that hard earned money going into the banks pocket instead of the dinner table.
Revenue is irrelevant. How much is profit?
Wow, glad ou took the time to work that out. It really hits home how mental the scale of this is !
yeah that's sad they earn more in 2 seconds than i do all year.
Thank God I'm done with credit card. Now I use what I got. I don't owe no body. That's a blessing! Love this video!
Smoking section on a plane or restaurant is like a pissing section in a pool lol
"Seriously Charles" Lol!!
I found your show because I got interested in fixing my finances and every single investor/ author I read/watched mentioned you.
Your honesty and straight to business attitude make your message go far.
I'm from Brazil, I tell you: you are helping people that don't even speak your language. Great work.
Thank you.
If you cut your credit cards up into small squares you can wear them like a nicotine patch on your arm, to remind you to quit. If that doesn't help, chew them up and think about your debt as your mouth heals. Selah! Love you Dave!
I think WF earns more than just a double-ugh.
TheFiremonkeyman yes POS!
Wells Fargo is seriously the devil
No credit cards here! Also no problem renting cars and traveling with my debit card! Crazy! :)
I’ve never had an issue getting a uhaul with my debit card but for some reason I’ve never been able to rent a car (for work) without a credit card.
I laughed my pants off 😂😂😂😂
Love you Dave, lolol
Double ugh.
The Credit card business sounds suspiciously like the Mark of the Beast. If you don't have a good 'credit rating', you won't be able to buy and (maybe soon) sell.
inability to defer gratification is the Achilles heel of all humans.
trying to buy happiness.....NEVER works.....
I woke up! Never again am I getting hooked on credit, I’ve been through more than enough instability to scare me away from it, so I swore off the things:)
I know it’s not the Dave Ramsey way but I’ve started treating credit cards like my debit card. I make a purchase and then pay it off right away. And I never have cards that have an annual fee.
Where is the David Ramsey soundboard? "Double UUUH"
Bank of America treats me like a number and I treat them like a bank. Don't break their rules and they won't penalize you, this is a business relationship not personal. Keep your feelings out of it.
Thank you Dave for everything I hope one day to be debt free
Funny the commercial that came on before this video started for me was for a company called Philly Credit Mechanic I laughed at it then pushed the skip button to get to this video faster.
Dave's humor cracks me up! I literally am laughing out loud watching this video! Thank you Dave for your wisdom. I have learned so much from you! :)
I love his rants!!!
The whispering made me laugh so hard
great rant Dave!!
This is a good rant. He is basically saying that low interest rates from the fed are advantageous to banks and not to the consumer, generally.
I would say a triple ugh for Bank of America !!!!
Never got a credit card although i work in company that offers them, Ironic.
even responsible people get into trouble. see "Maxed Out", "I.O.U.S.A.", "In Debt We Trust", "The Men Who Made Us Spend", "The Card Game", "The Secret History of the Credit Card", and "Britain's Trillion Pound Horror Story"
REPLY
No
95% of the smokers I observe have less than 5% of my net worth, and even aside from health concerns, I consider that I could not afford to smoke. Poor people behavior...
My mortgage is $290 per month, the only debt I have.
Thanks. $75000 for an 1880 colonial
Wow that's cheap! can't find anything for that price where I live in NY unfortunately
connecticut, i know, I got lucky. The house did need a new roof though which was $10k above the $75k I paid for the house.
Og your mortgage is that low, you can pay it off faster and become debt free
@@ragga7862 Yep, by 2025 with an extra $100 per month and extra $5000 annually. 2021 if I lump sum pay off at $30,000
Dave is talking about me I'm an idiot and i can't stop being dumb!!!! I'm addicted to stupidity!!
I just love this guy.
"...It beats your double wide." I'm still laughing at that!
Love this!
LOL @ people think they are doing something by paying their credit cards in full every month. Um, that is what your suppose to do! Want to show real financial power? Try living without one!
pamperedgurl omg that is so true!
I'm able to live without one and have, but why not take advantage of the perks they offer? I just got a card and am getting 50,000 Delta miles just for putting $2k on the card. I paid part of my tuition with it and put something for my parents business on it and they gave me the cash. I spent nothing more than I normally would (except for a $10 fee for using a card on the tuition) and am getting multiple free round trip flights. The miles don't expire so I'm in no hurry to use them.
How does that show financial power?
The monthly statement from my wealth management account shows my "financial power."
Not using my rewards card would simply be less convenient, more expensive, and higher risk.
I make over 2k a year on my cards in rewards.. with zero debt.
Not living off of a credit card keeps me out of the store
best analogy I've ever heard
I’m outside freezing getting my fix watching old Dave.
This prayer will help break the chains on your addiction: "Most Precious Blood of Jesus Christ, save us and the whole world" (500x)
Tell em Dave!! :) lol love this
Love you Dave!!!
Lol, when are you becoming an actor, haha I love it!!!
Omg this made me laugh the whole time 😄🤣😜
“It kills you, and it makes your breath stink”… AND IT COSTS A LOT OF MONEY!
Thanks dave got rid of my credit cards years ago however I am still a work in progress with one auto loan to go and I will achieve mystery if it kills me
The non smoking area in the front of the plane actually makes sense since the ventilation system goes from the front to the back so the smokers in the back have a small headwind preventing smoke from going to the front
No one can explain better then Dave
This was fantastic. I was thinking "I wish I'd listened to you when I was getting myself into ridiculous debt in my teens and early twenties" .. but then I thought, I probably wouldn't have listened because of who I was then. Wanted to ask what you would say to a young arrogant financially ignorant adult with low self-esteem?
Hmm... Mr Ramsey is feeling especially sassy today....
Still the best rant ever!
Thank you for that
I'm crying with uncle dave humour 😅😅
One time I got a credit card from BoA, since it had no annual fee
When it came in the mail my Dad opened my mail and ran into my room and started yelling at me
I let him do the whole speech and finally at the end I started clapping, giving him a round of applause
He's like "what?"
I said: "Dad, I got that so I could cut it up when it got here"
the govt is setting a bad example, spending money they don't and won't ever have.
Exactly, so we cannot be surprised that people think debt is normal or even necessary.
CREDIT CARDS WERE ONLY CREATED FOR BANKS AND FINANCIAL INSTITUTIONS. NOT, I REPEAT NOT EVER AND NEVER FOR THE CUSTOMER. We the people, EVERY WHERE DO NOT NEED THE CREDIT CARD. AMEN
A restaurant with a smoking section is like a swimming pool with a peeing section.
ROFLMFAO
I got a visa with a $2k limit in ‘03. I maxed it out in 3 months. I cut it up & canceled it. Never touched another CC since.
Been there, but ran mine (plural) up to about $14K. It was so bad that I literally felt ill every time I went to the mailbox. My wife and I were making 6 figures between us and had NOTHING to show for it other than debt. We got insane and paid off over 60K in debt off in just under 3 years. No feeling like looking in the mailbox and NOT seeing a credit card or car note bill. We haven’t looked back. Now we make an even higher (by 40%) combined income and no debt other than our home. It’s much more fun putting my money in my pocket vs. a lender.
I can’t hit the like button enough 😂
SOLID GOLD!!!
The cigarette comment: it kills you AND your breath stinks😂
What banks should i look into then? I feel like i should move from Chase. I have them as a secondary bank acct with them.
I'm 27 with a 0 credit score
Smokers are jokers..Todd Flanders 🤣👍🇬🇧
cigarettes are nowhere near as toxic as credit card debt!
I really have lost all trust in my own credit card recently, I started one to build up a decent credit rating for when I buy a home, but the bank has been really messing me about...
I set up a payment plan that pays the card IN FULL at the end of every month, flawless am I right? Well turns out I was wrong... end of the month comes, expect to see £300+ removed and what do you know only £70 was payed off, went to the bank the next day only to be talked to like a child by the staff, apparently they know more than me and apparently to them IN FULL means barely a third. Long story short they fired out a whole string of reasons why the number was so low (Except the chance they may have been at fault) and I left the bank disgruntled but fully payed off once more.
This month I'm recording my credit statement every day leading up to the payment date, if they mess this up again I'm getting their manager in the office, this isn't me being bad with money, this is them being bad with money... If they keep failing me as a customer they will end up loosing me, in both credit and savings.
Word to the wise, if you risk getting a credit card watch it like a hawk, these banks want you to fail...
Paying "in full" usually refers the "Statement balance" not the "current balance".
20 years never had cc debt. Dont blame the card for your financial stupidity. Living within your means what a crazy concept.
even responsible people get into trouble. see "Maxed Out", "I.O.U.S.A.", "In Debt We Trust", "The Men Who Made Us Spend", "The Card Game", "The Secret History of the Credit Card", and "Britain's Trillion Pound Horror Story"
judas brute No they arent responsible if they do...only stupid.
if you had an open mind and watched what i suggest you'd see how wrong you are. if i can see there are irresponsible morons, why can't some people see responsible people sometimes get into trouble through no fault of their own. these companies are not good companies to do business with. get off your perch Mark G, you have zero business being up there
judas brute If you live within your means and have an emergency fund I dont see how a cc can get you in trouble. Oh thats right those people that get in cc debt did neither.
living within your means doesn't negate emergencies and unforeseen circumstances. not sure where you live Mark G but it's not the real world. you should move there, or at least visit often
Nope to big wig banks!! Or banks at, all!! After I understood the scamming system I switched to a Credit Union. Credit Unions are going to be so much more helpful and actually care about you as a member.
He is right, but he's turning into a ' Drama Queen'.🤣 This guy was so reserved during 1995 interview.
I have a credit card that comes with a free auto club membership. I have used it twice for dead batteries since it's free anyway. The annual fee is waved because I have over $5000 in my account. I pay it off every month. Basically they aren't getting a cent out of me. Not surprisingly I get a notice in the mail saying this credit card is being cancelled (before the expiry date) and will be replaced with another one that has no auto club, a lower cash back reward and no annual fees! (That I already don't pay) and so the incentive for me to use this other card is???? The only reason I have it is because of the bank calling me over and over offering this card with a free auto club membership, then they bait and switch the card with a no perks card. Come on am I stupid! I don't want the other card!
Exactly how they get their dinner!
So you were able to contribute the trillion dollar profit for these credit card companies for a measly free auto club membership. You better retire a millionaire.
In the banks mind you were a deadbeat because you didn't carry a balance. Oh how times have changed.
Get a different card. I've never had a card get cancelled on me because I pay off the balance in full every time. Look through the terms and conditions if its true or not. Otherwise I'd go with a different card completely. Is it a credit card with your own personal bank?
@@pamperedgurl No, he didn't, because he pays them off. Banks make money on interest paid. It is when you can't pay off the balance that banks win.
Lol i remember that gold card garbage. haha good times
What else would you recommend to build credit?
His impressions just kill me 🤣
7:25 ..... epic!
Downvotes incoming: I use a credit card. It costs nothing ($0/year), it's paid in full ($0 interest paid), provides me with free insurance ($0), it provides me with 0% liability in case of fraud, it doesn't expose MY cash every time I use it (but rather the issuing bank's), it gives me points (who cares but why not), it has a worldwide network, it can be used for online and recurring payments. The problem isn't with the product, it's with the user. Hilarious that people wouldn't use it for its benefits because many idiots misuse it and get wrecked with fees & interest. Yes, it's possible to use a CC intelligently.
Hi from Moscow! I stopped to use a credit card and now I use only a debit card. What do you think about this cards?
THe only downside to debit cards is it removes the pain of forking over cold hard cash. Never underestimate that.
Great choice over credit
Olga Chistol thanks Olga
Jimmy Delaware thanks! What does "cold hard cash" mean?
Slang that refers to the pain of spending cash. Forking over 1 000 rubles in cash is a lot more painful than a debit card that makes it so easy! When fast food restaurants in the USA started taking credit cards the average money spent per transaction went up double digits.
I’m so glad I don’t have theses four Banks.
...And with holidays approaching I can only imagine how many credit cards will be swiped this holiday..🤔🤔🤔
And when you finance something I guarentee you the money was never there, the lender just banks off your written agreement to pay them
My stepfather is 75 and still doesn't believe it kills people, that the findings are wrong. 3 people in the house smoke and everything turned yellow-brown. I moved back a year ago and now I smell like I smoke. But I'm paying off my debt easier being here... it's all killing me. :-/
I only have one credit card. I was told to get one to help build my credit. Was this bad advice?
I've never had a credit card and after this speech I will never have one
I have a question
Without a credit card, how can make good credit history to get approved for a mortgage?
1st Get the good credit history by using credit cards very lightly, 2nd buy the house when the credit says that you're good and Finally, payoff and close the credit cards cause you won't need them anymore.
Dave can you PLEASE share your opinion on fractional lending, the insanity of the federal reserve, and the fact that our money is not backed by gold? I feel that since you are so old-fashioned in all other facets (paying cash, no debt, living below your means), are you old-fashioned in this avenue as well?
Is it a bad idea to use a credit card to buy stuff if you have that money in your bank account and pay almost right away to raise your credit score (young guy with no credit)?
yes. always a chance you will overspend or not be able to make payment, and credit scores are an abomination. RUclips search "Dave Ramsey Credit Score" and L I S T E N to those clips