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this is the show where we talk about money in a way everyone can understand it in a way that applies to everyone the danger of these simple concepts is those of you that view yourself as intellectuals those of you that view yourself as sophisticated sometimes you look at something that's simple and you don't understand how profound it is like the borrower is slave to the lender oh but I use credit cards to get my miles you actually think you're going to take on a multi-billion dollar company who studies your behavior more than you study your behavior and come out on the right end of this stick that doesn't make you sophisticated that makes you blatantly stupid think about it did you know the credit card is the most aggressively marketed product in the history of humankind nothing has been sold to anyone in any culture in any kind of a volume close to the credit card no product line or service has had anywhere near as much money spent on marketing and sophistication to sell it to you hundreds of millions of dollars a year is spent to sell you this product and then you're so stupid that you think you're going to get away with using it for free if you do it's gonna be a short-term thing or if you think you do you left out some of the variables example when you spend using cash it activates the pain centers of your brain you have an ouchy moment when you hand over uncle Benjamin Franklin dad gum I just bought dinner when you Laye uncle Benjamin Franklin in that black plastic tray known as his coffin because he's going away and he's not coming back you put him inside that little visa or American Express fold-over vinyl thing that the server brings you and you lay uncle Benjamin Franklin in there you have a moment with Uncle Ben Uncle Bill I'll never see you again you know this is happening when you pay with plastic and I interview you 24 hours later you don't know what the total was on the bill you can't tell me what you spent you don't know what you spent at the gas pump cuz you stuck a card in it you pump the gas and you walked away you can't tell me what your gas bill was in the days that we used to walk into the market and lay money down on the counter and then they would give you change because you didn't round it off when you were putting your gas in we knew exactly what we spent on gas in those days today you don't even know what your gas is you don't know I use a debit card I can't tell you what mine was can I tell you what it costs to fill up my truck the other day I don't know I didn't notice it stuck the card in put the gas in drove away I'm just like you cash activates the pain centers of the brain there's two or three things that activate memory memory is activated primarily by pain fear heavy emotion of some kind positive pleasurable emotion will activate memory that's why you smell something and you remember a girl you dated in high school smell activates that memory that's what happens and so it's that that's the process so so here's the thing if you can't remember it it means the pain centers of your vain brain we're not activated and when we do surveys with what you spend on that meal as you walk out of the door the restaurant you can't tell me what the total was twenty-five dollars around fifty-two dollars I don't know fifty six fifty silver four I don't know I don't even remember I think I left the tip left the big tip because I've been drinking you know now you really can't remember anything right so this is how people handle their money and yet you tell me you're gonna beat the credit card company you spend twelve to eighteen percent more on average when you use plastic then when you use cash that's what all the studies show us because you don't feel the pain in the world's worst place is the grocery store they are the best marketers on the planet the best merchandisers on the planet is a grocery store man they know how to put the food at the right place old-fashioned example the easiest example is the bread and the milks at the back right because everybody that walks in the grocery store is buying bread or milk and they have to go through the full length of the store and have every opportunity to impulse on some kind of jar of peanut butter and jelly mix together pre-mixed for you I don't know what you're imposing on but there's something getting your attention it must be those new peach cheerios I heard about today and guess what all the stuff is at the I level they get your attention and they pay for the shelf position as you walk to the back to get your bread and milk and you can't walk out without spending money it's the the the the aisles are designed for you to buy stuff and when you use plastic at the grocery store you have no idea what your grocery bill is and you spend more he's been more on clothing oh yeah throwing that accessory oh yeah you'll pick up other people's tab at the restaurant I'll buy you dinner tonight nothing anything about just drop 50 bucks never think a thing about it now I'm not saying you shouldn't be generous I'm not sure saying you shouldn't accessorize and I'm not saying you shouldn't enjoy some purchases at the grocery store I'm just saying you know do it on purpose and if you think at credit card use even if you're paying it off every month cost you zero then you are a very naive individual that has been influenced by an industry that has spent more to influence you than any other industry in the history of the world that should give you pause that should give you pause if anybody else was selling that hard on anything you would your shields would go up but for some reason when its credit cards were like oh no damn I have this figured out I'm 26 and I've got this figured out I'm 26 years old I make $42,000 a year but I'm gonna beat up on old Discover Card they don't know anything I've got them beat I'm getting those Discover points not costing me a thing you know how stupid that makes you saying when you say stuff like that I'm making all my money on my airline miles you know I've met with thousands of millionaires I have never met a millionaire said Dave you know I made all my money on my airline miles they my breakthrough was my discovery points I'll pay mine off every month Dave I'm beating up on the credit card company I'm getting the use of their money wink wink millionaires just don't say stuff like that now some of them use a credit card they do pay it off every month but I got to tell you their lifestyles are so conservative besides you know when I set them up next to you middle-class people or spending everything you make and trying to convince me that I'm a troglodyte because I don't use credit cards well I'm not broke anymore this is a multi-millionaire troglodyte you're listening to why because I start understanding that behavior affects your ability to build wealth more than all your little math tricks you think you see all the variables on the borrower is slave to the lender it doesn't say except airline miles the borrower is slave to the lender it doesn't say except Discover points the borrower is slave to the lender it doesn't say except I got 0% interest on my new car which lost $7,000 when I drove it off the lot so it's not really 0% is it how stupid are we I mean you're gonna you're gonna hand me a nickel in front of me while you're picking a hundred-dollar bill out of my back pocket and call me smart think people think think if someone shoveling stuff down your throat at this rate to the rate of hundreds of millions of dollars a year and their ability to sell and to market to you is beyond any other sophistication of any other marketing program there must be money in it follow the money follow the money so I don't have any credit cards I have to debit cards didn't do what you want but it's working for me this is the Dave Ramsey show