I Have Fallen Into The Personal Loan Trap

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 2 May 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today. Yeah, so I have fallen into the
0:08.7	personal loan trap. Uh-oh. Well, the good news is my co-host today is George Campbell. Oh, boy.
0:15.6	He wrote an entire book about this. Be aware of the traps. That's right. If you fall for the trends, you fall for the traps.
0:22.1	There it is.
0:23.0	Signature quote, what's going on?
0:24.8	Why are you falling for these traps?
0:27.2	Man, it's so easy, it seems like.
0:30.0	Oh.
0:31.2	So easy to do what?
0:32.7	To go into debt?
0:34.6	No, to fall, I mean, to fall for those, for the predatory stuff, like interest rates and
0:39.4	stuff. Okay, but what did you actually, what happened? What did you take out debt for?
0:45.3	So I got a trip, like actually last year in July with my mom to Boston, it was a fourth
0:53.8	of July trip, and I took out a loan for that.
0:57.1	That sounds like it's on you. I don't think you felt. I think you jumped voluntarily.
1:03.1	How old are you, Dylan? I am actually 40. I turned 40 in February. So a 40-year-old man decides to
1:10.1	take his mom to Boston for July 4th.
1:13.4	I mean, I get it because I like history, but I mean, that's like, I mean, like, how are we
1:19.6	taking out a loan for that?
1:21.3	That's not like a big deal, like that big of a thing.
1:24.7	You could have saved up for that.
1:25.8	Am I right?
	...

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