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Tips to Avoid Holiday Credit Card Debt

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    Dave Ramsey weighs in

  • Duration 4:07
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226 million people.

And that that went shopping over this holiday weekend and guess what.

The holiday shopping is just beginning but before you load up on all those gifts on your credit card finance expert Dave Ramsey here with some tips that you need to know -- might be too late for some yet he's also the author of this book.

-- truck -- pro leadership which is a best seller Dave welcome back first off.

-- start about shopping credit cards I hate to even say those words the -- you don't understand it but is there a way to do it.

Now there's not a way to do it it's very very dangerous all the studies have shown that when you spend cash.

You emotionally feel it activates the pain centers of the brain and you spend less you're better off to use a credit card.

At what I mean I debit card and it at best stay away from debit card or credit cards can get it out yet the debit cards like you go go right you're checking account right so.

-- -- -- -- -- -- -- -- -- -- -- -- -- Read Dave Ramsey right he make a list and then -- put a dollar figure next all those people see no not to go over.

Well absolutely -- -- with my friend Santa Claus and that's what he says make a list check it twice.

I suggest running it on the outside of an envelope put the dollar amount beside each person's name.

-- lit up put that amount of cash in the envelope and that will keep you from overspending -- you use only that cash to go shopping and resilient.

When the -- simply go home.

Right that might be good they'll get -- -- in sales.

I -- to see what you get me this year -- my dollar amount limit will be we'll do that I guess in the break some viewer emails this from Sheila in New Jersey.

What is gonna zoom down and -- a little bit because we love his torso but it's not -- -- much.

-- he says this -- I went shopping on Black Friday and receive more than ninety dollars and store cash.

The fact mutants.

I had been a certain amount of -- your credit card -- -- to pay off the card when the bill comes in the extra cash back seems like a great bonus what do you think.

Well I think he won this realm but I think that -- that it's not a good way to play a game when your plane with credit card companies.

Eventually they're going to get you let's see you made money on them and they don't know that.

I think they -- she was what happened then eventually they're gonna make their money back so.

Again I don't think you play with snakes -- plan to be bitten by let's go to came from let's go to.

But came from Indiana he says Dave the kids' Christmas gifts are getting more expensive each year parkway make them understand that it's not about getting.

But about giving.

Well I think we have a lot of discussions about that we -- around our house and we would do things where the kids would actually.

Did.

Participate in buying gifts for others.

Adopt a single mom in the area adopt a family that's having struggles in the area.

Go down of the homeless shelter and serve -- let the kids get interactive because when they experience giving.

They're gonna enjoy yet it is one of the most fun things you can do with money.

Right all right finally Randy from -- -- this.

Working very hard to get our finances in order my wife and I decide to go very small this year in terms of gifts for each other are fairly -- ever has an expectation of gifts.

-- don't understand that we are cutting back how -- we explain this to them so their feelings aren't hurt.

Well we can't guarantee that their feelings aren't hurt but if you're relationship is only based on money you don't have much of a relationship -- -- only based on the gifts that give you.

We don't have much of a relationship say like you and I'm Brian -- we've got a good relationship so it's not dependent upon the gift right and so I look like exactly what we're really happy -- -- We've got -- autographed ball and how much would that cost you.

Well we got to get you to pronounce the title right first like -- -- say you're passionate setting up.

I took a leadership right.

On the contrary leadership it's okay our country and its own gut -- have a phones let you get up anyway family either way it's -- -- sound a lot.

It is sort of set out what the family and have the discussion one don't want explain to them you're trying to hit goals that are good for your family's future.

And that our gift giving is temporarily going to be down someday when we're wealthy will make up the difference he got it Dave Ramsey thanks so much.

Thanks --

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