Name: Dave Ramsey

Bio: Author of "The Total Money Makeover: A Proven Plan for Financial Fitness" and host of the nationally syndicated radio program, "The Dave Ramsey Show."

Advice: When it comes to credit cards, just don't have one. I don't. And increasingly there's no point in it. Many of the debit cards have rewards programs and air miles. So any excuse for using a credit card rather than a debit card has gone away.

Best advice on debit cards: For the beginner, it's that you have to be very, very careful with your checkbook. It's real money. And some beginners don't do well with them. They end up in the land of insufficient funds. And the cost of living there is very high. Staying organized and keeping your checkbook registry is essential.

And if you travel with them, being aware of holds that the hotels and car rental agencies will put on an account. If you hit five hotels in five days, you can have $1,000 in holds.

Who offered this advice: (With debit cards), I got it the hard way, using debit cards as they became more prominent.

The credit card advice came mainly from millionaires. When I talk to wealthy people, they are, by and large, aghast at the use of credit cards.