Dave Ramsey is a financial guru known for his strict budgeting advice, but recently made it clear that travel is not costly. In a recent episode of the Smart Money Happy Hour Podcast, Ramsey admitted that his biggest splurge is in “Uber-Luxury, Bougie Travel.”
“The coolest thing in my life is when we go international, we can have someone meet at the gate, a personal customs escort, for around $400, $500 ($1,000) I will,” he said. His daughter and podcast host Rachel Cruz said, “They do this with crazy rich Asians!” They will pass you all. Go straight through as if you own the place,” Ramsey continued.
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He recalls his trip to Egypt. “They’ll sit you in the lounge, they bring you food as they run all your stuff, you go and get in the car and leave. That means it’s a boogie trip. That means it’s just you’ll be anything else. It’s the money I spent while living like anyone else.”
Ramsey explained that he is known for preaching frugality all the time, but he believes in spending his life on experiences that truly strengthen his life. “I don’t want the stress of traveling. I want to enjoy everything.” So he pays for what makes his “life” when he travels.
Personal finance experts who have built their brands on principles such as debt-free living and unnecessary purchases say they don’t believe in cutting corners when it comes to travel accommodation. “We don’t want to stay in the odd Motel 6 to say we were able to fly 20 hours before going to the country,” he added.
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Ramsey also acknowledged that his approach to spending has evolved over the years. As Cruze explained, people still think that Ramsey’s followers will “have to drive a crappy car” for their lifetimes, and only eat rice and beans. The goal is to build wealth so that you can enjoy life without financial stress.
His philosophy is simple. Save and invest wisely, live under your means early in life, and then don’t dispel guilt for something truly important. “When you were alive with anyone else, you can live just like anyone else,” Ramsey said, citing his famous financial mantra.
Ramsey’s travel choice may raise some eyebrows, but his reasoning coincides with his longstanding belief in deliberate spending. If you’re going to spend a lot on something, make sure it’s worth it. For him, it makes sure he is not lined up at customs when he can start his vacation.
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