The Dave Ramsey debt debate
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Cameron Long
Cameron is a seasoned CFO and CPA with 31 years in finance. He created the AI Trader's Playbook to help everyday investors use AI to find high-confidence trades — in minutes, not hours.
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@DanO530.8Heavy 😮
The oil company I work for just recently acquired a company up the road and it’s 2 other plants because they “ didn’t have enough debt on the books.” So they acquired the other company for 5.4 billion.
What ?
They want to have debt on the book ?
They bought them for their management team. Either great news or horrible news for you.
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@Sofwan786supposedly in the oil industry and I’m just regurgitating what one of the operators at my plant said. “Carrying debt makes you less attractive for a hostile takeover”????
“Debt is good” — Everyone who has stake in credit card companies
Tell me a single forbes 500 that doens use debt
I have almost an 800 credit score I’ll stay debt free ….thank you very much
No store accepts 800 credit score
@frankelse745 guess I won’t go shopping then I got shoes , clothes, transportation, food, and a roof over my head , should be good for now I hope
A credit score is a measure of how confident an institution would be when issuing you debt.
If you’re not going to take debt, you should have no interest in your credit score much less treat it as an achievement.
@jonathanedwards8549 a credit score is a reflection of a person and how they spend or manage money also there’s a lot of TRUST FACTORS when it comes to credit . And just because of a HIGH credit score doesn’t make this man popular or anything like that . Would you want someone running your business with a poor credit score or a high credit score? Credit scores are mainly TRUST and management . And just because you have a 30 thousand dollar limit doesn’t mean you can spend that 30k ….unless it’s NET30
Not possible. 800 credit mean you have had and currently have a lot of debt but you have always paid ontime. You are married to the bank if you ha e an 800 credit score
There’s a difference in what kind of debt you’re in
Then what should we use? carry around gold like the old days? buy groceries with silver bars?
He’s saying you should use paper bc you’re in debt the minute you get use money, so borrow smart. My debt costs me $8.20 a month, and that’s the dumbest debt I’ve ever had, bc I’m in a growth period rn.
I agree, my debt only costs me $8.20 a month.
He should clarify consumer debt vs taken on debt to increase income
It’s intentional. The rich want to normalize living in all kinds of debt, so the poorest citizens are ok being slaves for the rest of their lives to whoever owns their debts: the rich
@WilbertMooreyou’re probably right lol
He’s so right. I wish I would’ve understood this 25 years ago.
Debt is good when it’s backed by an equivalent asset. Not credit card debt or student loan debt, which will keep you earning capital tied up. There’s a difference and a lot of people don’t differentiate between that.
Okay, I filled out my Amex card application. Now what do I do?
The county we live in probably has debt because all of us haven’t paid our own individually.
The number of relationships that crumble, the lives taken because of depression related to financial troubles, the medical bills associated with the anxiety it comes with, all because of the very thing he’s championing right now says more about the kind of person he is than anything.