Money expert and radio host Dave Ramsey shared a warning with fans as he revealed why he avoids borrowing from loved ones.
The 65-year-old, known for his no-nonsense financial advice, didn’t hold back when talking about how borrowing money can destroy relationships. Speaking on his show, Ramsey explained, “When you loan your friend money, they are no longer your friend. You can’t keep that from happening.”
He added, “Their primary relationship is now slave and master. The borrower is a slave to the lender.” His latest advice comes just days after he weighed in on a woman’s eye-wateringly expensive dilemma.
The host shared a story from 30 years ago when he and his wife were broke and had to borrow money from her dad to keep their car.
Her dad was kind and never made them feel bad, but things still felt different between them until the loan was fully paid back. Even family dinners felt a little uncomfortable as he admitted that’s because debt changes relationships, even if they’re nice about it.
That’s why he believes debt creates a “slave and master” feeling, where the loan becomes more important than the friendship.
In a clip from the show, which Ramsey shared on Instagram, one person joked, “And when he doesn’t pay you back, he becomes your enemy.”
Meanwhile, someone else advised, “Might as well write it off the second u hand it over if you value that friendship.” A third person agreed, writing, “Yup, no longer let people borrow money.”
It comes just days after Dave Ramsey was left visibly stunned on air after a caller dropped an eye-watering confession during his popular radio show.
The moment unfolded on Monday’s episode of The Ramsey Show, when a woman named Alexis called in seeking urgent advice – and what she revealed left both Dave and co-host George Kamel completely floored.
Alexis explained that she had recently “stumbled on a big chunk of change” and was looking to make smart decisions before doing anything “rash.” She caught everyone’s attention when she was considering selling her $600,000 Rolls-Royce, a gift from her husband.
The luxury car, typically associated with celebrities, CEOs and the ultra-wealthy, clearly didn’t impress Alexis anymore. She told Dave she no longer cared about expensive vehicles and already had a serious offer to sell it.
She assured Dave she was asking for genuine advice and admitted she no longer cared about luxury cars and had an offer to sell the Rolls-Royce – to which the finanacial expert agreed.
“Well, honey, I mean you are going to just have to pick you out something you want to do with it. There’s so much broken about this whole process that I don’t know where to begin to help you fix it,” Dave said.
Instead of giving the lady financial advice, Dave appeared to go down the relationship route. “I would coach you guys to start working together.”
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‘ Some details of this article were extracted from the following source www.the-express.com ’
