{
  "id": 3301614,
  "title": "‘Please don’t do this’: Dave Ramsey says to ditch this one household expense keeping Americans from becoming wealthy",
  "url": "https://urgent.news/2026/08/25/please-dont-do-this-dave-ramsey-says-to-ditch-this-one-household",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-25T16:05:00.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/small-business/articles/please-don-t-dave-ramsey-160500003.html"
  },
  "original_language": "en",
  "account": "Financial expert Dave Ramsey warns against taking on car debt, stating it hinders wealth accumulation. On The Ramsey Show, Ramsey advised Carl, a New York father, not to celebrate his new job by taking on a car payment. He suggested Carl purchase a $20,000 car, using the proceeds from selling his current Honda. Ramsey linked the affordability crisis in Manhattan to high car payments and cited Bank of America's findings that nearly a quarter of households live paycheck to paycheck. Ramsey emphasized that ditching car payments is crucial for building wealth, as per internal research of over 10,000 millionaires. He advised Carl to stop caring about what others think and to buy a car in cash, as having a car payment will \"suck the bone marrow out of your money.\" Ramsey noted that about 37% of American households have car loan debt, with the average monthly payment increasing from $506 to $680 since late 2018. To avoid becoming \"car poor,\" Ramsey recommended following the 20/4/10 rule: a 20% down payment, a maximum four-year loan term, and no more than 10% of monthly income spent on vehicle expenses.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Yahoo Finance",
        "title": "'Pretend like you don't have it': 23-year-old New Yorker asks Dave Ramsey what not to do with sudden $450K inheritance",
        "url": "https://urgent.news/2026/08/25/pretend-like-you-dont-have-it-23-year-old-new-yorker-asks-dave-ramsey",
        "published": "2026-08-25T10:05:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}