![]() ![]() I just heard a story this morning about a 110 percent interest loan that a guy took out, and they just feed on people's desperation. It’s terrible what they charge people when it comes to payday loans or even online loans. But also, you look at the math on the interest rates, fees and everything attached to that type of industry. Enter Dave Ramsey and Rachel Cruzes new book Smart Money Smart Kids. "So remember, not only are you going into debt for something that no one is going to remember in four months. I dont have a conscious financial plan myself so how can I possibly help my kids. Many parents crack under the pressure of their family's expectations and sometimes resort to taking out a payday loan, which Cruze strongly advises against falling prey to. FREE From Choose the comfortable size, customize it and download your weekly meal planner template printable PDFs to get more control over your meal prep, grocery lists and food consumption. This is why Cruze encourages people to budget for what they plan to spend on each person and include other expenses associated with the holiday meal and gatherings, including the cost of paper plates and plastic utensils.Ĭruze believes parents and adults should communicate with each other and their children about what their expectations should be due to budgeting constraints caused by the loss of income or because parents are working to reduce spending so they can pay off debt or save money for a rainy day fund. Those who follow Ramsey Solutions know they discourage racking up debt, especially at Christmastime. “So while it's the giving season, which is beautiful, it can get tangled up with this idea that we play into other people's expectations of what Christmas is, and so much so that we put ourselves in a financial hole and go into debt for it,” she lamented. She's keenly aware of the dangers that lie ahead for those who don't follow financial wisdom.Ĭonsumer spending, Cruze said, is expected to be extremely high during the holidays this year compared to 2020, when fewer families gathered together to exchange gifts. ![]() While she works with her father and siblings at Ramsey Solutions, Cruze is known by many for her YouTube show, where she gives advice on a wide range of financial topics, including how to spend wisely for Christmas. Those memories fuel her passion for making sure people know the financial dos and don’ts of the Christmas season. ![]() Rachel Cruze remembers what life was like when her influential father, Dave Ramsey, was going through financial hardship and walking through bankruptcy. ![]()
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