CUT UP THE CREDIT CARD

My Take on Dave Ramsey

My Take on Dave Ramsey

Dave Ramsey has long suggested that we all cut up the credit card. He claims that credit cards lead us into financial ruin, more stress and a “snowball” of other issues.

Well Dave…

You’re right. Part of becoming financially secure and free is getting rid of debt. In order to get rid of debt we must stop using it, in the form of credit cards. Dave wrote the book, “The Total Money Makeover” which sold millions of copies. On the cover, he is holding a pair of shears and it about to cut up credit cards. The credit card companies make it very attractive for us to use their money instead of our own and then we pay them back. They offer us 5% cash back on all purchases. So if you spend $100 using their money they give you $5. That’s a horrible trade! You get $5 and they get your $100. No this is not to talk about the tactics used by credit card companies or to discuss math at length.

This is to say whether you love Dave or hate him, he’s right! Cutting up the credit card is a sure fire way to stop using them. As a result, you will get out of debt faster. You’ll end up with more discipline, more structure and achieve your financial goals.

If you’re using drugs then you should stay away. Toxic friendship or relationship? Then you should end it! Credit cards are no different. However, for some reason we are attached to our credit cards in every way!

Dan Roman is a Husband, Father, and writer that releases a daily blog. A quick read on money, marriage, parenting, self-improvement, development and his thoughts. Dan is also Founder/Creator of Roman Solutions, a Personal Finance Firm that currently provides coaching and education.

To connect with Dan visit: linktr.ee/bydanroman

Or by email : financialdifference@danromansolutions.com