The Ramsey Show Highlights
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Ramsey Show Reacts To Horrible Wedding Financial Advice On TikTok
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46 comments
The reason why things cost so much these days is because people pay for things they can’t afford (a.k.a. credit card company profits from this more than the consumer)
As a consumer, I don’t support anyone else mismanaging their money or support having debt when you can pay it out-of-pocket. For me to get extra money/points from other people suffering makes me feel sick!! The average American consumer doesn’t know how to consider how it affects other American people as a whole when we spend our money like this! I would love to see people making billions of dollars in America, not the credit card companies!!
It’s no different than a government mismanaging tax dollars while we yet to see improvement. There is no morality in that as much as supporting credit card companies as a consumer and wonder why people are always broke!
We spent very little on our wedding 11 years ago and have no regrets. I do use a credit card and have never paid interest on it. Just pay it every month. I have a simple cash back card, no confusing point system.
I think it depends it’s not worth it of the vendors charge a fee for using the card because you probably won’t get that back in rewards.
If you are budgeted though and have the cash I don’t see the big deal. Just stick to your cash budget and use the card instead of cash it’s 0% interest and many cards actually do give cash straight up. Cash bonuses for signing up and cash back on purchases.
Guess it depends on the card and don’t spend over your cash that you budgeted for the wedding
Even 30-40k points won't get you a single airtime ticket.
I felt horrible spending my parents money for my wedding .
I did my best to make it cheap it was 16,000
I downgraded my CC and on the other end of that phone call, the agent was asking me why I want to downgrade. I just told her outright "I had $3k of debt that I can't pay for the last two years. Now that I paid it off, I don't want that to happen again." My limit is down to $700. Haven't used it since.
(Will cut it up in a year after I've paid the other stuff off).
I do what the first chick does. Shes smart. Credit cards charge you nothing if you’re paying it off and you’re not an idiot.
That’s why if I ever get married to my future wife as a 42 year old virgin (my virginity is my wedding gift to my future wife) man (I’ll turn 43 in December) I want a church wedding with no more than 50 or 75 people. But I’m real bad at rough estimates. lol. And the reception is pot luck. And I’m proposing with my Grandma’s (maternal) ring. I’ll wear my Grandpa’s (maternal) ring as mine. My Momma was executor on Grandma’s estate and has ok’d this. I’ll also wear a regular suit to the altar. What y’all think? I’m Andrew.
I’m also just about $200 away from paying off my credit card. My only current debt. I’ve had it since 2019.
I paid for my own wedding, $40k all cash. I saved up for a year and a half so that I could have an amazing day without going in debt. It's a once in a life time experience and I don't regret spending that much at all!! 🙂
Thats not a bad idea for people with self control. Now i wouldn't use my credit card for anything that i have to pay a vendor fee for, but everything else I'd use it, rack up those reward points then pay the bill off immediately. I do this all the time with my month to month bills- no interest, rewards points, and less exposure of my debit card info online
The "bride's" nails were so distracting.
If you have the money, it’s good advice does not apply to most people though
Lol shes not wrong. ONLY undiscipline people cant do what she said.
If she put $25k of wedding expenses on credit card with 27% interest, thats about $700/mo minimum that she have to pay in the next 6 yrs. After homeymoon, when reality hits, that blondie will scratch his hubbys head, get stressed out and frustrated, and will question hubby's existence in her life.😅
If you have discipline, Ramsey’s content doesn’t apply to you
She has a great point
What's wrong with that advice: leaves so many people vulnerable and starting your marriage off strapped with debt is such an awful way to start a marriage. Even better wedding financial advice: plan a very low key and quiet honeymoon and you'll get way better time together to start things off. You don't need lavish luxury digs to have a great time together.
I think the advice is great if you have discipline. Also, I don't think they really care about the other on depth that pay the rewards. It is just a mindset they need to push. I am pretty sure they do not care about all the ppl who are behind on payments for the companies they invest in. I mean, if you are going to give financial advice but objective and stop lumping each person's situation together.
Do not pay with cash for any of the big items. If something goes wrong, then you have no recourse to get your money back. You can complain to the credit card company for a dispute. If you pay cash, it is gone.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I will tell you what changed my view of money…I donated plasma and was paid for it. Afterwards, I had an extremely difficult time finding anything that was worth my blood. Now I use that as a mental gauge. I don’t find a lot of items.
If they charge you a credit card fee of 2% you’re losing.
If you take a trip that you wouldn’t have you’re losing.
You’ve effectively paid for a trip that you won’t have taken, to spend money in a place you wouldn’t have gone to.
If you don’t have money and you’re using the credit card to live, you’re effectively solidifying your status as broke by paying an additional 20% apr.
Credit cards are only good if you are responsible, are exceptional at math, and are immune to psychology.
For my friend with a masters in math they work. They work so well that they closed his accounts. That’s how you know you’re using them correctly.
For me they work. It’s an extra 2,3,4 steps to spend money so I end up spending less. I also pay them off every time the balance hits the account. And the cash back goes directly into my bank every month.
Points are arbitrary.
It’s a way for them to give you a hundred dollar item that costs them 6 bucks.
If you opt to pay in cash, you can negotiate for a discount that often exceeds the value of what those credit card miles are worth.
So this a 2 yr old video….women are unfortunately not nearly as smart as they thought they were.
Key phase " We already have all the monye to pay it off" this is the most important thing that is said in this video
Airline points are pretty lame honestly. After 2 years of this strategy of keeping every single expense on ONE card and paying off every single month…. guess what, 2 years later i still can't get tickets to the place i want to go. 😂
I charge everything on my credit card and pay it off every month. I use the southwest credit card and my spouse essentially flies free with me on every trip.
More bad advise from the Dave Ramsey show.
Let's get Dave's reaction 😂😂😂
I feel when she said “we” she meant “him” her now soon to be ex husband
Why are weddings a celebratory event? Celebrating an effort that will likely fail seems odd. How about holding the celebration for the 25th wedding anniversary? And in the current woke climate, can we skip the gender reveal party?
People poo poo weddings but weddings are lifelong memories. Everyone gets all dressed up and all of your loved ones are in the room at once. We spent $21.5K for 100 guests in July of 2023. I thought that was a very good deal. We asked for cash and actually broke even.
We spend about $4K every month on our credit card but we have developed an habit of paying it off every month without fail. We have been doing this for past 10 years or so.
Other than flight tickets we been funding our home appliances and furnitures with the cash backs and points!
But i agree its a slippery slope, its easy to fall of the track if not careful!
I don't how using a credit card is psychologically so much different to using a debit card (which essentially is a cash payment as their is no credit for it). Or are they suggesting that you really pay in cash (as in: dollar bills) for everything?
Look, I personally use credit cards and I know that The Ramsey Show objects. But for cases like mine, I don't get it. I am using credit cards for 20 years now and have never (and will never) not clear my balance every month. I have not yet paid a single Dollar in interest, I have 0 debt (except mortgage, which I am consistently and quickly paying off) and I have not even paid for any of the credit cards (as they were either free or part of, e.g., my airline status). The only thing they do for me is providing convenience and some bonus points/miles that I can use.
I honestly don't get how what I am doing is not beneficial to me.
We spent 400$ on my dress, food, bridesmaids & groomsmen, my hair and makeup and both our rings. We had the reception in my grandparents backyard (just like my parentx did). Instead of a registry with gifts we asked for money and aby household itens family ir freibds would normally donate ir trash. Our cake was two grocery store sheet cakes covered in frosting flowers. I had just sold my freshman year textbooks to my sister and her freinds and we used that Money on a 4 night 5 day stay at an adorable bed and breakfast in amish country( ws live outside philly), we were. Pleasenrky surprised at how chill they were with the young satanist newlyweds on their honeymoon lol. The only things we didnt pay for or do ourselves was the last harry potter book which hac come out that day and ny mom got it as a gift because ny husband. Likes when i read yl him (waaaay better than dinner and a movie way more intimate and conversation driving too.) And my dad got beer and the cheapest champagne for us to use as a toast at the reception, but my dad surprised us with the champagne and beer (we said guests were encouraged to BYOB) but my dad ended up buying it for us becausr neither of us was old enough lmao ….either way, $400 was all we spent and were Gojng on 19 years now❤
Our entire wedding was less than $5000 in 2016. We made the conscious decision to not start our marriage off with debt.
"Just pay the 2% vendor bill"
"The money is in the miles"
Lmaooo
when someone cant manage their own behaviour, what does it have to do with me? it is not making any sense
😂 I love Rachel's face when she hears this madness lol
We budgeted 12k for the wedding and 2500 on the honeymoon but spent slightly less. Budgeted everything, and entirely cash flowed. When something wasn't in our budget, we didn't do it. I have zero regrets; it was a beautiful wedding, and having that 12k back vs. our memories wouldn't be worth it. Mainly because we have multiple family members and friends who passed away within two years after our wedding, and everyone was able to be together that day. Some of those are our last memories together.
You know, if you are a credit card person, sure do it.
But most people are not credit card people, and thats okay. There are some people who do make a bit of money with credit cards.
Grahm Stephen, Caleb Hammer.
But they will tell you, pay off the damn card, and keep on it.
I personally though dont like credit cards, dont use them, and do advise anyone reading to not get one. I’m just saying credit cards are not inherently evil, its people that cant manage their money, or pay their debts.
not being able to use credit cards is just a lack of self control
i use a credit card just like a debit card and have never not payed off the full amount each month. I don't see what the problem is.
Married by the justice of the peace with a small dinner for close family and friends after. 28 years later and no regrets:)
Nobody really has the cash
Love how they ignore the part where she said to pay it off right away. If you have a set budget for the wedding it also dismantles their whole “someone else’s” money argument about spending more.
Weddings and honeymoons seem like a big escape from reality that people seek before they enter years of monotony.