LEASING EQUALS FINANCING

Dear Dave, What is your opinion on leasing cellphones?

—Monica

Dear Monica,

In most cases, leasing something is just another way of financing. I wouldn’t lease anything, apart from a building or office space for a business in the short term.

There are almost always hidden conditions and a few “gotchas” hidden in the fine print of leases. Besides, leasing a cellphone? Really? Come on! If you can’t pay cash for something like a cellphone, it means you can’t afford the phone. It’s as simple as that!

—Dave

About the author

Dave Ramsey is CEO of Ramsey Solutions. He has authored seven best-selling books, including “The Total Money Makeover.“

“The Dave Ramsey Show” is heard by more than 13 million listeners each week on 585 radio stations and multiple digital platforms. Follow Dave on the web at daveramsey.com and on Twitter at @DaveRamsey.