However, I do find him very similar to a reformed drunk. He's a reformed credit addict. We've used credit over the years for things we needed (e.g. supplies to fix the roof or the water heater, medical bills, etc.). It's been many years (15+) since we carried debt of any kind - mortgage, credit card, car loans, etc.
We got our family through completely on our own, and yes, that meant sometimes we needed to buy essentials on credit. I'd do it all over again if I had to. But every cent has been paid back and I don't foresee having to use credit at any point in the future - our kids have long been grown and out of the house. We have savings, rental properties, and investments. And no debt. As unbelievable as it is to Ramsey, some people do only use credit cards in an emergency.
The reason you should use debt is because you think you will get something better in return for the money you pay in interest.
I don’t see that in 99% of personal debt. It’s mostly to satisfy a desire for more immediate gratification.
“I don’t want to wait until I save the money for this $30,000 car so I will pay someone $42,000 for it”
If you can pay $200 a month to pay off a new roof, why couldn’t you have paid $200 a month into a savings account to pay for the eventual problems? I’m amazed at the # of people who don’t save money because they can use debt.