Kayla is a high school senior who tells a story about her economics class. Her teacher was talking about the supposed benefits of credit cards. When Kayla asked if cash might be better because you don't have to pay it off, the teacher's response shocks Kayla and Dave.

• Hear Dave almost lose it!

Question: Mike just had lunch with a friend who bragged about having credit cards. His philosophy is that it's all right to have credit cards as long as you pay it off next month. Is that true?

Dave Ramsey's advice: Your friend is a goofball. Spending $3,000 at 4% interest is $120 a year. That means before he started all this nonsense, it means he made $10. I guess he's a REAL GENIUS! His time must be worth about 10 cents an hour. It's this kind of thinking that gets people in trouble.

Besides, you spend more with plastic because you don't register the emotional pain of paying with cash, according to a Dun and Bradstreet study. Your friend is an accident looking for a place to happen.

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Question: Brenda has 90 credit cards in a safe deposit box. She wants to close them out, but wonders what she and her husband will do if they need something. Dave almost blows his top and declares that it's time for an on-air plasectomy.

Dave Ramsey's advice: My heart's thumping just talking to you. You're scaring me to death!!! You have 90 credit cards and you think that has anything to do with security?!! Cut those suckers up right now and close them down. You can use a debit card for anything that you use a credit card for. You are a case of identity theft looking for a place to happen. Get rid of these credit cards!

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