Are credit cards and car loans considered a great idea for most people?

Credit cards and car loans are often seen as not a great idea for most people because they can lead to a cycle of debt that is difficult to escape. Many individuals tend to overspend when using credit cards, accumulating debt that incurs high-interest rates, making it challenging to pay off. Furthermore, car loans typically require monthly payments that can place a financial strain on a budget, especially if the buyer is not financially stable.

Instead of relying on credit, Dave Ramsey advocates for living within one's means, saving for purchases, and using cash or debit for expenses. This approach encourages people to prioritize financial freedom and security over the convenience of credit. Avoiding credit cards and car loans can help individuals maintain better control over their finances, leading to long-term stability and peace of mind.