The Ramsey Show Highlights "I Made A Big Mistake"
Aug 26, 2025
This discussion dives into the fallout from a parent's decision to buy an expensive car for their irresponsible daughter. Listeners learn about the significant financial burden this creates and the importance of open communication. Practical solutions are shared to help navigate the tricky waters of family financial support, emphasizing the benefits of affordable alternatives.
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Gifted Car Became A Burden
- Rachel Cruze recounts buying her daughter a $27,000 car a year earlier with the loan in Rachel's name and a promise to transfer it later.
- The daughter failed to follow through and now Rachel is stuck with tickets, registration, and insurance problems.
Undo A Bad Financial Gift
- Dave Ramsey advises Rachel to admit the mistake, sell the car, and replace it with a much cheaper vehicle for her daughter.
- He insists undoing the gift is necessary because the expensive car traps the daughter in unaffordable obligations.
Good Intentions Can Hurt Financially
- Dave Ramsey observes that well-intentioned financial gifts can harm recipients when they create obligations they can't handle.
- He frames the expensive car as an anchor that drowns the daughter rather than a blessing.