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The Ramsey Show Highlights

How To Know You’re Making a Stupid Financial Decision – Dave Ramsey Rant

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 10 October 2023

⏱️ 9 minutes

🧾️ Download transcript

Summary

Today's episode features Dave Ramsey & George Kamel. The Ramsey Show Highlights is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. Budget for free with EveryDollar: Click Here Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Brought to you by the Every Dollar app.

0:04.3

Start budgeting for free today.

0:06.7

When you find yourself making, here's some things that'll tell you if you're making a wrong decision.

0:13.5

Okay.

0:14.8

Because making a wrong decision around money, particularly like a car purchase or a house purchase or something other, some other big investment, deciding to go into crypto, deciding to do something stupid along, you know, getting out of where you're getting ready to set yourself back a decade by screwing up, by making a bad decision.

0:41.3

See, we always talk about wealth building and the things to do to build wealth.

0:48.1

I don't think we spend enough time probably on how to stupid proof ourselves so we don't do something stupid and offset all the good work we did, right?

0:51.6

So one of the things I discovered about me, and it turns out it's true of everyone,

0:56.8

is that right before I, right after I get desperate, I get stupid.

1:04.5

And right after I get stupid, I get broke.

1:07.8

You know what I'm saying?

1:08.6

There's a close connection between that.

1:09.8

When you feel desperation trapped, and your language will tell you

1:17.1

that you're that way. I was forced to. We had no choice. Buy a car. Never in the history of

1:24.3

human races have been true. You were not forced. They did not have a gun.

1:29.5

They don't do reverse carjackings. It doesn't happen, right? So it doesn't happen. So you

1:35.2

weren't forced. You are in a desperate situation on transportation. And so you justified a dumb but

1:43.3

decision to go to the tote the note lot and pay double for the car at a 28% interest rate because you and then say but i was forced you weren't forced you were just stupid i've been stupid too right i just explained it right after I felt desperate and trapped.

2:01.2

Okay.

2:07.7

And so when listen to your language, and if your language is indicating a sense of being trapped, a sense that there is no other options, and your language to yourself in this

2:15.5

decision making or to your spouse or you're trying to talk into

2:18.6

this is bizarre, then that tells you that you're getting ready to screw up.

...

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