Don't go Into Debt To Buy Stupid Stuff - Dave Ramsey Rant

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have you ever done something really stupid with money if you're over 12 you should have raised your hand just then all of us have some of us is more public display of stupidity some of you are able to hide it and isn't it amazing when everything is going good when the economy is going good the job is going good the marriage is going good everything's going good stupid doesn't it you can cover stupid you can actually make stupid look like you're doing something good like you buy a car you can't afford and everybody thinks you're making it look at George George is doing good you see that Corey bought that job must be kicking it all George got was a payment coming I was freaking earholes that's all I was George isn't doing good George just stupid it's what he did look could you say the size of that boat they bought oh my god you must be doing good that new company he opened is deeply in debt don't we all do that you know once you've done financial coaching as long as I've done it when you pull up at a traffic light you see a bunch of nice cars all I see is payments because I figure that's what most of them are most people trying to you know buy things they don't need with money they don't have to impress people they don't really like stupid on parade baby lifestyle that is totally unrealistic and I can tell you it's unrealistic because you didn't pay for it meaning it's in debt you have debt if you borrow the money to do it you're you can't afford it you can't afford it you can't afford it if you didn't pay for the item 100% in cash on the spot you can't afford it well I can afford it I just wouldn't want to you just didn't want to take it out of your savings and you rather have your savings then you have the item but oh wait I want the item anyway and so I'm going to take out a car payment instead of paying cash for the car and the money was sitting in savings stupid if you're unwilling to take the money out of savings to buy the car you shouldn't buy the car if you don't have the money in savings to buy the car go in debt to buy the car anyway that's really stupid and that's most people I've done that most of you have done it here's the thing though you can go along when everything is going good and stupid doesn't really show up but when you lose that job when there's a health problem or a car wreck when there's problems in the family when the economy slows down and customers quit coming into your shop Warren Buffett says it this way he says when the tide goes out you can tell who was skinny-dipping stupid shows up when you let the water level down doesn't it when the economy slows down and life happens and you're not completely ready to rock and roll you really were faking it you were as they say in Texas big hat no cattle oh the stupid can't be covered up then and it just what was a little tiny crack in your great theory suddenly goes bananas and falls apart it happens on a national level too it happens it on a statewide level it happens on a citywide level happens in a company and it happens with individuals and families what feels smart and might be smart when everything is going good when everything's not going good and you stress test stupid when you stressed a stupid it will blow up on you it cracks and just opens up like a bad egg because that's what it is your bad stupid theories can be covered over with an income for a while well I got I got airline miles on my really seriously seriously you're going to spend $100,000 on your credit card to get a free airline trip that's stupid well leasing your car is a good idea because you can write it off really you don't know anything about tax law I mean seriously my cars are paid for like company owns them I can write them off I can either write them off on a straight-line depreciation to the extent I use them for business or I can write off the mileage to the extent I use it for business which is the only way you can write off your stupid fleece anyway is if you use it for business it's not sophisticated it's stupid it's the most expensive way to operate a vehicle see when you stress test stupid it explodes when the tide goes out you can tell who is skinny-dipping it's real you know and I've done it man I put it you know because here's what happens you put these things together in your mind it's called rationalization and you rationalize well I mean this car you know you know what we're spending to fix this car with what we spend on all these repairs we could have a nice car you ever heard that one I've done that one man you could talk yourself into a frickin Bentley with that one I mean you can spend three or 50,000 bucks on a car using that bad gum math it doesn't work gas mileage gas mileage is killing me I have a $6,000 pickup truck and I'm gonna go buy a $36,000 Prius and I'm gonna save the money on gas you're gonna make 30,000 bucks up on gas mileage where'd you take math what school was that you gonna drive this stupid freakin Prius to the moon and back there's no way you're ever gonna make that money back on gas mileage learn math skills kind of a Napoleon Dynamite thing we need some skills here man unbelievable stupid when you stress tests it is exposed I know I've done it so many times D into um B so I'm not you know everything I'm saying I did every one of those things I did except the Prius I wouldn't have a freakin Prius but uh all my cars have like big gas sucking engines in them I like I like big cars you're compensating for something Dave yeah possibly but I like them and I'm old enough I really know the compensating thing really doesn't bother me anymore I'm old now so I just want the nice car unbelievable man so anyway I've done all of those I had a friend that traded a really cool a really cool vintage pickup truck that he drove three miles to work and he upgraded to a $37,000 pickup truck to save on gas mileage because the gas mileage is killing him from me and this hook the old truck was probably worth 2,000 bucks but it was just like a classic you know he's like a 72 Chevy 3 on the tree you know I mean a man your Grandpa's truck that you wish you had that that truck man and he traded that stinking thing because the gas mileage was killing it the stupid things we do and try to rationalize them be careful be careful with your little theories because stupid will be stress tested at some point in your life and then you make an entertaining caller on this show join us this is the Dave Ramsey show you

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Channel: The Dave Ramsey Show

Views: 540,649

Rating: 4.896492 out of 5

Keywords: dave ramsey stupid, dave ramsey spending, don't go into debt to buy stupid stuff - dave ramsey rant, don't go into debt to buy stupid stuff, dave ramsey don't go into debt to buy stupid stuff, dave ramsey rant on fast food, stop buying stuff, dave ramsey on debt, dave ramsey rants, dave ramsey debt, dave ramsey rant, dave ramsey car, dave ramsy, dave ramsey car buying, dave ramsay, dave rant

Id: F4p0Da_cbzQ

Channel Id: undefined

Length: 7min 57sec (477 seconds)

Published: Wed Aug 13 2014

Reddit Comments

Overall good message, but: "I wouldn't have a freakin' Prius. All my cars have like big gas sucking engines in them." What the fuck?

Edit: Okay, listening to the next suggested video "How the New GOP Tax Bill Will Affect You". This guy is a fucking idiot. "Who better handles money? You or the government?" -- not even a remotely relevant fucking question.

👍︎︎ 5 👤︎︎ u/tiberiumx 📅︎︎ Dec 28 2017 🗫︎ replies