How To Know You’re Making a Stupid Financial Decision – Dave Ramsey Rant
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[Music] foreign brought to you by the every dollar app start budgeting for free today when you find yourself making when here's some things that will tell you if you're making a wrong decision okay because making a wrong decision around money particularly like a car purchase or house purchase or something of the some other a 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 see we always talk about wealth building and the things to do to build wealth I don't think we spend enough time probably on how to uh stupid proof ourselves so we don't do something stupid and offset all the good work we did right so one of the things I discovered about me and turns out it's true of everyone is that right before I right after I get desperate I get stupid and right after I get stupid I get broke you know what I'm saying there's a close connection when you feel desperation trapped I and you start your language will tell you that you're that way I was forced to we had no choice buy a car never in the history of human races have been true you were not forced they did not have a gun they don't do car reverse carjackings it doesn't happen right so it doesn't happen so you weren't forced you or in a desperate situation on transportation and so you Justified a dumb butt 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 okay 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 in your language to yourself in this decision making or to your spouse who you're trying to talk into this is bizarre then that tells you that you're getting ready to screw up okay I'll give you another example we run into George every property for rent in x-town is four thousand dollars a month make up a number fill it in you can't find them they don't exist see these absolute hyperbole statements are indications that you feel desperate and stuck and so once you've decided inaccurately that every property for rent is four thousand dollars minimum in this town then you can justify buying something you shouldn't be buying at a point in your finances that you aren't ready to buy you see what I'm saying yeah so when you start making these fatalistic absolute statements that are that are overstated then and when you say if it sounds bizarre to you then that tells you you're there and that was my that was my question with my I I couldn't get it out of my mouth fast enough in that last call because we've been looking for a property in Texas for nine years okay that's just weird no you haven't or if you have you've got other issues other than property looking takes you a decade that it takes a decade in Texas to find something to live in that's just not true that's just that's that smacks of weirdness and uh desperation and you're getting ready to make a mistake but what that leads to then is I'm going to do a deal here that I know I shouldn't be doing because for nine years this is the only property see the see the you know how that comes out and I do that in my own head that's how I recognize the drama queen it lives in all of our heads and it's like you know I'm so stuck rental prices are so high I am forced to buy a house I can't afford while I have six hundred thousand dollars in student loan debt well that's just dumber and crap you know no it's just not true okay not true and and so oh the other one I love is um our house has mold our children will die if we stay here and the only property we can find to live in is sixty percent of our take-home pay these are our two options death of our children or bankruptcy these are two options because we forced ourselves in desperation into this false Narrative of fatalism that I'm stuck and the only way out is to go from one stupid horrible thing to another stupid horrible thing and I'm trying to justify it by saying it's the only option you see what I'm doing oh yeah and every time I do that in my head I have lost so much money I just every time that fear-based desperation leads you into that and and I get the these are the actual calls I get here you've heard them I'm getting triggered Dave my PTSD is coming back from the caller saying well there's no used cars under 25 000 so we had to finance one for 35 because what else are you gonna do yeah you're just stuck I mean because it's not not a used car anywhere all the used cars in America that's right now 25 000.
So when you start making these over the top crazy but statements what that states is not the actual fact what it indicates is your mindset is in desperation and stuck fatally there's a whiny toddler inside all of us we just want the new car just admit it you want the shinier newer car well yeah but admitting it would be dealing with me and I don't want to deal with me instead I would rather create this false Narrative of the marketplace is forcing me into doing things it's the economy High interest rates it's just ridiculous I mean it's forced me the only way I could go to school was to go four hundred thousand dollars of student loan debt it's the only way it's the only possible other than joining the military but only possible other than to say only other than other than other oh my God but the only part so now here I sit and Biden won't forgive them and so I'm screwed you know and now Sunday you have to start paying payments again not someday Sunday this coming Sunday so but yeah but but every time you say something with a bizarre set of overstatement that is indicating you're getting ready to make a mistake because I've done this I've done I'm not making fun of y'all if you've done it I'm not even making fun of our last caller I mean it was a little bit hard to keep up but I mean I but even even aside from that I she just was stuck and I want this and so I and I don't think I should be doing it it feels wrong but I've got to justify it with everything else out here all the three-story buildings and above are not safe uh they don't have licensed contractors you know all these other wild and crazy stories out here in there to justify the move and again that's not picking on her she's sweet lady she's trying to figure it out I appreciate her calling if you call I'll pick on you too but I'm picking on me and the same thing because I'll tell you man some of the dumbest butt stuff I've ever done is when I was in facing uh bankruptcy I got stuck in that and I thought there's no way out there's nothing I don't know what to do and I lost so stinking much money uh I made Decades of income evaporate in in single Strokes of the pen because I was desperate stuck and fixated and the one that goes with that also the sister to it is greed and when you get when you get all fired up and you're like oh I'm gonna but if okay if the system is broken yeah and the millennial can't get ahead then the millennial has to do something that's completely different crazy shortcut exactly I need a Tick-Tock life hack which is nothing down real estate velocity banking is what we all need velocity we need we need high speed stupidity High stupidity on high speed stupidity on caffeinated stupidity that's what it takes in today's world Dave yeah but it's so true most of the calls on the show is someone saying hey I've got option A and option b and they're both terrible what do I do and we say have you ever thought about option C or D no there's a lot of that and it involves you instead of a shortcut it involves that's how you know let me help you no is a possible answer no it looks like the only car you can find that suits your needs is 25 000 and you're broke uh answers no and it's a complete sentence no it's an interesting sound two letters the silence that follows it is definitely no this is the Ramsey Show
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