6 Things Dave Ramsey Says You Should Say ‘No’ To — Does Rachel Cruze Agree?
Written by
Rebecca Neubauer
Edited by
Zuri Anderson
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Dave Ramsey is known for his straightforward financial advice that focuses on discipline and intentional money management.
In a recent YouTube video, Rachel Cruze, his daughter and a financial expert in her own right, reflects on six things Ramsey advises people to say “no” to.
She explains her take on each of these tips and whether she agrees.
Say No to Lifestyle Creep
Lifestyle creep often happens when your income increases and your spending gradually increases to match. The danger is that without a plan, you may end up spending more as you earn more, meaning you continue to live paycheck to paycheck despite increased earnings.
Cruze agrees with Ramsey that you should avoid lifestyle creep. However, she says that if you’ve managed to pay off your debt, build an emergency fund and save for retirement, it’s reasonable to increase your spending in a controlled way. This intentional spending can enhance your quality of life without jeopardizing your financial goals.
Say No to Unnecessary Purchases
Ramsey advises cutting out all non-essential purchases when you’re struggling financially. Specifically, he discourages eating out while you are repaying debt.
Cruze also encourages mindful spending and budgeting to avoid unnecessary purchases. However, she acknowledges that once your basic financial needs are met, occasional discretionary spending paid for with cash and within a budget can contribute to a balanced lifestyle.
Say No to Buying Beyond Your Means
This is a clear-cut no from Ramsey: Don’t buy what you can’t afford. Cruze fully supports this since the debt and financial stress that result from overspending can undermine your long-term financial stability.
This includes buying expensive phones you can’t afford or purchasing big-ticket luxury items like boats if your finances aren’t completely solid. Cruze points out that many luxury purchases depreciate over time and come with ongoing costs such as maintenance, storage and fuel that must be factored into your budget.
Say No to Enabling Poor Money Decisions in Family
When family members repeatedly make poor financial choices, Ramsey warns against enabling them by providing ongoing financial support. Cruze agrees and points out that while helping family is important, enabling ongoing irresponsible behavior by giving your family money does not solve the underlying problems and can harm both parties.
Both Ramsey and Cruze also advise you not to take responsibility for others’ lack of planning and not to feel obligated to let family move back in. Cruze acknowledges the emotional difficulty of this choice, but stresses the importance of setting boundaries, especially if you’re not in a position to support parents or children without jeopardizing your own financial health.
Say No to Vacations While in Debt
Ramsey recommends postponing vacations until you pay off debt fully, as travel expenses can divert funds from debt repayment. Cruze agrees that when aggressively paying down debt, it’s best to avoid vacations that could slow your progress toward your financial goals.
However, she also suggests celebrating small milestones along the way to maintain motivation, as long as these celebrations don’t derail the overall goal.
Say No to Keeping Up with the Joneses
Trying to match other people’s lifestyles, many of whom are also living paycheck to paycheck, is a financial trap that Ramsey warns against. Cruze emphasizes that comparison is exhausting and unproductive.
Focusing on your own financial goals rather than trying to impress others will lead to healthier money habits, so say no to keeping up with the Joneses.
Cruze’s Opinion
Overall, Cruze agrees with most of her father’s advice but adds nuance by recognizing that financial discipline doesn’t mean deprivation forever. She highlights the importance of intentional spending once foundational financial goals are met and the need for balance to maintain long-term money habits.
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