Dave Ramsey is widely regarded as one of the smartest financial people on the radio to listen to The Dave Ramsey Show. With a net worth of over $200 million, it’s easy to understand why so many people tune in to get advice. Dave is known for giving out harsh truths and not pulling any punches whenever people call him for advice. He also has been known to go on tangents about topics he’s deeply passionate about.

One thing that stands out in particular is how annoyed he gets at people for buying things they can’t afford and don’t need. During one of these rants, he calls people out and asks them why they take out loans to buy things they couldn’t afford to buy with the money in their savings account. There are different places we should avoid taking loans out, with Home Depot (NYSE: HD) being one of them.

Dave’s Warning to You About Home Depot

Home Depot is known to be where people go if they need to fix or upgrade things around their house. It’s incredibly easy to get in and out of. The customer service is fantastic, as the employees can answer any question you might have about a specific project. There are things like screws, tools, plants, and tons of other things you can purchase at Home Depot without having to break the bank. However, there are tons of things at Home Depot that Dave thinks you need to be sure of before purchasing them. If you need to, Home Depot offers in-home loan services to pay some of these items back. You need to think about what exactly the reason is you need these items.

If there’s a leak in your house or something that needs to be fixed, it makes sense to take out a loan. This way, you can purchase whatever it is you need. If it’s something that’s more for fun and upgrading your house, think about how easily you’d be able to afford it if your financial situation changed one year from now. Taking out a loan means you’re going to have to spend even more in the long run than what the item is worth. One of the biggest ways people have their credit score drop is because of scenarios that come up they didn’t plan for. Make sure you always think five steps ahead, as it can save you in the future.

Expensive Items For Sale at Home Depot

Home Depot is where you can turn your house into a home, but be careful. The Rosebrook 7-Piece Wicker Outdoor Dining Set looks incredible, especially thanks to the display. It also is going to be a bill of $2,199. Before purchasing a new outdoor dining set, it’s important to think about how often you’d use it. More than likely, you’re only going to use it once a month. It’s also important to consider where you live. Most places in the United States don’t offer great year-round weather to be outdoors. Some do if you’re lucky. But most don’t. Another thing you should think about is what mother nature is like where you live. If you live somewhere that snows or rains a lot, your furniture will be destroyed faster and potentially break sooner. It would be a shame if you got the furniture and something immediately happened to it.

What’s even worse is if you had to take a loan out to buy it. This means you’ll still be responsible for payments even though you can’t use it. Something else you could buy from Home Depot is the Masterbuilt grill. This grill starts at $897. While this is a beautiful grill, there are plenty of other options that are cheaper and get the job done just as well. Home Depot tries to put it near the top and calls it a best seller. They know how expensive it is and want you to buy it.

The Important Message From Dave

It’s important to know there are times when it’s okay to take a loan out. The key when taking a loan out is to make sure you’re being responsible. If you do need a new grill or patio set, that’s understandable. But make sure you are picking the option that’s more reasonably priced. Odds are, those you invite over won’t be able to tell the difference between a $500 patio set and a $2,199 one. Same thing for a grill. Food tastes the same on an $80 grill as it does on an $897 grill. If you can’t afford to pay for it upfront and still be comfortable, you don’t need it.

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