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Spoiler alert: Its a very big deal.
Ramsey is keen to dispel a number of myths about debt and reinforce how serious it can be.
According to Ramsey, the best way to build wealth is through your income.
Ramsey suggests that you’re free to throw that assumption right out the window.
So if you dont have a credit score because youve never taken on debt, keep it that way.
If youre worried about renting a hotel room or a car without a credit card, Ramsey offers reassurance.
But some debts are impossible to avoid, like a car loan or student loans, right?
Ramsey insisted that viewing these debts as inevitable parts of life does you a great disservice.
He referred to car payments as a money pit, especially when youre talking about a new car.
Save up and pay for your next car in cash.
Ramsey also said that student loans arent just an unfortunate reality of getting an education.
Loan interest can end up crushing you just as you get started in your adult life.
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