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He believes people should avoid debt at all costs and optimize their spending through abudget.
Quality Over Cheap Costs
Spending on quality over quantity is a personal choice.
Its easy to believe that opting for a cheaper alternative saves money.
Over time, that might not be the case.
He didnt hold back in his response.
That viewpoint isnt surprising given that most wealthy people spend differently than other Americans, according to theNY Times.
Ramsey avoids spending on cheap items.
What I refuse to spend money on is cheap stuff thats not going to last.
Instead Ill double the amount and buy one good one instead of five bad ones, Ramsey said.
Host George Kamel asked how that philosophy related to his Amazon purchase history.
I dont have an Amazon history, thats how light it is, Ramsey said.
He avoids spending on trivial items that bring little value to his life.
When he does spend, he does so purposely to avoid wasting money.
Is Ramsey Against Spending on Luxury Items?
It would be easy to think that Ramsey is against purchasing items that communicate a certain affluence.
The zero-based budgeting philosophy he promotes is often viewed as rigid.
Instead, Ramsey follows a simple wait-and-see approach.
Ramsey isnt opposed to spending on luxury.
He shared a story of receiving a substantial check after closing his Total Money Makeover book deal.
The watch in question was a $13,000 gold Breitling watch he still owns to this today.
Spending Isnt the Issue
Its understandable to view Ramseys philosophy as being opposed to spending.
Thats not the case.
The issue isnt spending; rather, its about forgoing less expensive purchases when possible.
In an Xpost, Ramsey explained this point further.
Winning with money isnt about being perfect its about being intentional.
Stop letting debt rob your future and take control today.
The best time to start was yesterday.
The second-best time is now.
Youve got this, Ramsey said.
Not all Americans may be able to follow Ramseysadviceto avoid spending on cheap items altogether.
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