Dave Ramsey is strongly against the use of consumer credit. He believes that consumers should save 100% of the price of all items they wish to purchase. Consumers cannot build wealth with credit cards or auto loans. The only consumer debt he does not entirely frown about is a home mortgage. Even though he does not frown upon it, he does not encourage home mortgages either. He does however highly encourage consumers to save as much as possible and pay cash if they can. If consumers cannot pay cash, he suggest paying down a substantial down payment and only financing what they have to.
I understand Dave Ramsey's view of consumer credit. I can see where consumers would spend less and save more by not using credit. Consumers will evaluate their
I understand Dave Ramsey's view of consumer credit. I can see where consumers would spend less and save more by not using credit. Consumers will evaluate their