Rachel Cruze remembers what life was like when her influential father, Dave Ramsey, was going through financial difficulties and going through bankruptcy. These memories fuel her passion for making sure people know the financial dos and don’ts over Christmas time.

While she works with her father and siblings at Ramsey Solutions, Cruze is known to many for her Youtube show, where she provides advice on a wide range of financial topics, including how to spend wisely for Christmas. She is well aware of the dangers that await those who do not follow financial wisdom.

Consumer spending, Cruze said, is expected to be extremely high during this year’s holiday compared to 2020, when fewer families have come together to exchange gifts.

“So even though it’s the season of giving, which is beautiful, it can get tangled up with this idea that we play around with other people’s expectations of what Christmas is, and so much so that we put ourselves in a financial hole and we are in debt for it, she lamented.

Those who follow Ramsey Solutions know they are discouraged from taking on debt, especially at Christmas. This is why Cruze encourages people to budget for what they plan to spend on each person and to include other expenses associated with the festive meal and gatherings, including the cost of paper plates and utensils. in plastic.

Cruze believes parents and adults should communicate with each other and with their children about their expectations because of budget constraints caused by lost income or because parents are struggling to cut spending so they can pay off debts or save money. money for rainy days. funds.

Many parents cringe under the pressure of their family’s expectations and sometimes resort to a payday loan, which Cruze strongly advises against falling prey to.

“It’s a bad idea,” she said. “So remember, not only are you going into debt for something that no one will remember in four months. But also, you are looking at the calculations on interest rates, fees and everything that goes with that type of thing. industry. It’s disgusting. It’s terrible what they charge people when it comes to payday loans or even online loans. I just heard a story this morning about a loan at 110% interest that a guy has contracted, and they feed off people’s desperation.

Christmas should not bring despair but freedom, she said.

“The only word we use frequently here is freedom. A level of freedom comes from avoiding debt, and being in debt mathematically takes a heavy financial toll. But also, there is a spiritual and emotional toll it takes when you owe someone. And the moment you become free, you know, in Proverbs it says that the borrower is the slave of the lender, ”she pointed out.

Cruze, whose lifelong job is to help others break free from debt bondage, also wants people to find true freedom and everlasting peace in the salvation that comes only through faith in Jesus Christ.