One financial guru has taken a strong stance against one of the largest sources of debt in America.

Dave Ramsey, a personal money management expert, has been known to cut up his credit cards on his radio show.

The financial columnist responded to recent questions in an interview with Business Insider on why he despises credit.

“If you live on less than you make, pay off your debts and stay out of debt, you don’t need credit,” Ramsey told Business Insider. “Think of how much money you’d have if you had no payments!”

Ramsey said that many Americans are returning to pre-recession habits.

“Some people learned hard lessons the past few years that will stick with them forever,” Ramsey, who in the past has worked himself out of bankruptcy, told Business Insider. “But others have returned to their old ways of living beyond their means and going into massive amounts of debt. It is my hope most people will be more intentional with their money, which means they do the dreaded “B” word, the budget.”


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