carrying the debt sure seems to be the big issue! I got my first credit card knowing I wanted to pay it off before the end of each month. That DID NOT LAST after I found out my friends just carried full balances, too. Decade and a half later I finally smartened up, late bloomer I know 😭 95% cuz I just got up
I racked up almost $6k in credit card debt while I was basically homeless from 2020-2023. over the last year and a half I've rehoused myself and worked my ass off, and now I have $2.6k left to pay off. it's been slow going but I can almost smell the financial freedom
So true. I love automatic credit limit increases. Navy Federal just raised my limit from $25,000 to $33,000. It helps with overall credit utilization. I don't think I've ever had over 200.00 in total on that card. Paid off every month. That $8000 increase is not a trap. It's a reward for a job well done.
Absolutely. That coat will get old, and you'll get sick of it after two wears, sneakers too. Designers' goods are just dopamine hits that will wear off right after you wear it. The whole thing is a waste of money.
Don't go back! Congratulations! As someone who made it out and fell back in and recently jumped back out, I'm wishing you consumer debt freedom until the end of time!
Honestly I have lost most of my respect for the “they didn’t teach me financial literacy in school” argument because the Internet exists. I’m 21 and made a lot of stupid choices from 18-20, one day I just got fed up with struggling and decided I would just teach myself and learn what works for me. Yeah, school didn’t teach me, but because I am aware of that, I can use resources to teach myself. People just want excuses to ignore it
This because they don’t teach you how to make TikTok videos in school, that’s something you wanted to do and learned how, have that same energy when it come to your money but people don’t want to hear that it’s their fault.
I agree. I have a friend who says her lifelong dream is to own a house and every month she is putting debt on a credit card. I have been advising her to change jobs to get a higher pay and to start some investment for 4 years now and she has not done any of it.
I did go to a high school that required personal finance and even still i have plenty of old class mates that live a life of continuous debt. It's all a choice, informed or not
To be honest, a lot of young people aren't as well versed in technology as they "should" be. I'm literally graduating from secondary school this year and a lot of my classmates struggle with opening up laptops or even typing in the correct urls and all. Though I do go to school in a very low income area. I don't think we should dismiss this excuse entirely because as helpful as the internet can be, the internet is also filled with lies and it's hard to find a source you can genuinely trust.
I racked up close to 40000 worth of consumer debt , stated paying it off in September and proud to say I’m on my last 5000 and should be debt free next month.
i work for a credit card company,, during the pandemic EVERYONE decided it was a GREAT TIME to buy new furniture.. WHY? if your financial situation is not stable and you may be laid off or are not working WHY decide to buy something unnecessary? then later on when bills started coming in you cannot pay them because you are laid off or not working.. PRIORITIES people.. geez
I was one of those people! I had just bought my place and had no furniture. My job wasn't in jeopardy, but I bought it because we always received our bonus annually so I assumed I would get it to pay off when the bill came. My job didn't do any layoffs but the slashed bonuses and that started my debt journey.
😂 I thought it was just my neighbors. It’s insane watching my neighbors order food ALL THE TIME. I don’t live in a bad neighborhood but people around me aren’t wealthy enough to pay for food delivery all hours of the day.
Had a coworker who couldn't afford the repairs on her car, but somehow had the money for a Starbucks Frappuccino and breakfast sandwich every morning, then ate out for lunch every day, then her and her husband would hit some swanky bars every weekend. Absolute disconnect and unwillingness to pack a lunch.
The problem is that people consume the information they want, not the one they should. Theres plenty of info about STDs. People catch them regardless. There's so many cautionary testimonies about addiction, yet people are doing more drugs than ever before and the most dangerous of them at that. The financial education is there, just people don't care.
Also the “it couldn’t happen to me” mindset is an issue in these situations. They never think they will be the ones to catch and std or be the one to OD. Unfortunately I’ve lost enough friends that it absolutely can happen to anyone.
Yes, thats why sometimes it is hard to feel bad for these people. But my thing is that whoever is ready to change should be able to get the help yhey need. Even if the mistake made was completely avoidable.
My girlfriend and I have been together for 2 years and live together, and she recently realized that not only do I not have credit card debt, but I'm debt free. I worked hard several years ago to pay off over 50K worth of student loans, my new car, and 0% interest items. Never had CC debt though, thankfully my parents taught me how to use them so I only spend money I know I have.
I'm getting annoyed with this sentiment that these companies "set us up for failure." Corporations are going to do everything they can to make money. It is up to you as a responsible adult to not give it to them.
@@bamboozled1668i made another comment but corporations DO try to appeal to your limbic system and do not want you to think rationally. That being said, you have to make the effort to recognize these tactics and think critically. I love buying makeup, it appeals to some sort of itch in my brain… i now have to literally tell myself “you truly do not need this. Youre bored. It’s not a real need” I walk into a store and i feel the excitement rush through me but then i have to recognize this emotion and stop it from taking control of my decisions Edit: Neuromarketing and marketing psychology are real jobs that exist to mind control you. Don't let anyone tell you differently. Corporations pay top money to know how to accomplish this!
Husband and I lived on an EXTREMELY tight budget (I'm talking $400/month for groceries, $25/month each for fun money, etc.) to pay off all of our student loans. We've been debt-free for about 5 years now, and we plan on keeping it that way. There is no feeling quite like having no consumer debt. And we also save up for things instead of going into debt for them! Big vacation? Save first. New glasses? Save first.
They do have it in a lot of high schools, but I know for me personally, and it was more focused on like business, revenue, and profit and stuff like that less of personal finance and budgeting.
People struggling financially is almost always a combination of four things: systemic poverty, poor life decisions, operating in pride and ego thinking that you can do this by yourself, and occasionally, circumstances thrown at you that you had no control over. You have direct power over two of these.
Everybody is not broke and in debt. People need to understand that their situation may be common , but there are those who do not live a life of brokenness and indebtedness. When we say, “everyone” it gives some a false sense of security that their struggle is unavoidable when in fact there are alternatives.
THANK YOU for calling out people's responsibility and their role in getting into debt. I'm so tired of seeing these content creators and people who are always talking about "the system" and how it "prays upon people," as if we're not talking about independent and conscious adults. Yes, there is a minority of people who truly do not have the capacity to make these decisions for themselves, but the majority of consumers are able adults and should have the capacity to discern these things for themselves. It is just so easy for people nowadays to rescind all accountability and blame "the system."
5:42 the same people that make this complaint seem like the same kind of people that would've ignored school teaching about credit card usage. Teaching about taxes and cc usage is like an hour or two of teaching, it's not hard to learn about
Im really thankful that my parents drilled into my head to look at a credit card as a debit card with benefits, meaning you dont spend money you dont already have. the only time I ever carried a balance was to help pay for my first year of grad school with a 0% interest card, and a laptop with 0% interest. I've never paid a dime of late fees and I've gotten hundreds of dollars worth of benefits like free flights and hotels. Some people are just not credit card people.
I’ve been living in Switzerland for 15 years… you can’t get away with being in debt here… they will literally block your bank account till you make a payment arrangement… skip on the arrangement and they block your account and take it from you!
Also do you really even need a credit card in Switzerland? She probably needs it for services in the US she wants to use, but a credit card is rarely necessary. And yeah blah blah consumer protection but we have those rights in general, no need for a credit card on that. I only used my credit card to book a hotel.
This video makes me go double check all my accounts. I have been debt free since February 2024 and it makes me nervous yet free. I can pay for things I need and save for what I want.
I grew up as an Indian in Uganda. We came from a very middle class working family and I remember going out for icecream and pizza once a month when my father deposited some money from his paycheck. My mom drilled it in me, if I can’t afford it in cash, keep walking. It was hard not having things other peers had but I now have savings and investments because of it❤
An Indian middle class kid here, my mom always taught us to live below our means, my mom dad paid off the debt on our ancestral lands that my grand dad took loans on our whole childhood. Nothing is more important to us than owning our own house. It has been drilled into me that if you should never ever be in any debt other than the payments of your house/land.
The amount of people I’ve met that aren’t mature enough to even track their spending let alone make a budget because “it gives me anxiety to look at it” is mind boggling. I no longer let some of mg friends even complain to me about money stuff cause they refuse to budget or plan but just wanna complain about being broke.
I recently had a friend send an 8 minute long voice message to me that essentially boiled down to whether she should go to our mutual friend’s dad’s funeral or not bc she was unsure she would be able to make rent next month. I told her that as a friend, she should do whatever it takes to show up and I sent her some money to help alleviate her worry of making rent and transportation to the funeral. i gently mentioned keeping an emergency fund for situations like this and she blew up on me, sent the money back, and hasn’t talked to me since. i’ve sent her money before so im not sure why her reaction was so hostile this time. I just thought she had the funds since i see her partying and traveling in nice clothes all the time. she even got a cat this year. it just doesn’t make sense to me to see her complaining of financial trouble when i see her going out all the time.
My friends come to me sometimes to help make their budgets, I can tell based on their attitude while we're doing it if they are even going to look at it twice or if they will meet their goals
@@suncrestt4839 she got upset because she didn’t want to hold herself accountable. You’re being a good responsible friend and giving her great honest advice but she didn’t like it is why she reacted the way she did. Either way, who needs a friend like that?
9:03 This woman is such a content farmer. Is she really trying to act like like you can't find free financial resources online and offline to help you make smart financial decisions? She's acting like we have no agency because credit card companies have marketing budgets. Like girl, stop giving people bad advice and finish your foundation. I can't stand these Tik tokers who make these "damned if you do, damned if you don't" videos because they're basically saying, "You're never going to be financially better than you are, so you might as well do whatever and feel good."
I think these people legitimately do not have the ability to problem solve as they've never really had to without someone jumping in to help them. I see it in people at my work all the time, "how do I do X?" "How do I find out how to fix this issue?" Google it.
@BlakeC27 Okay and? Like I said, a company having a marketing budget and being able to convince people to take out loans is not an inevitably that people can't avoid. As I said, there are free resources everywhere that can teach you about debit and credit and what happens when you take out loans. If you don't want to be bothered to seek out those resources, don't turn around and play victim because, "I didn't know how because no one taught me". Take responsibility for yourself and stop relying on everyone else to fix your blind spots.
I think she’s saying that if so many people are in debt, it may be a system problem and not just an individual problem. It doesn’t matter whether people have agency if the result is that a majority of people are in debt. Sure there are some that only pay with cash or debit but that is a minority of people. Lastly, the entire financial system is backed by debt. If no one owed any debt, we would actually be in a worse place because that’s what actually makes people get out there and work, start businesses, etc.
"Stop spending money on that bs; you can get it later when you're rich." I love that quote. It really gets at how people should prioritize making good financial choices at the start, building their foundation and emergency fund. Then, once they have that, they can responsibly buy that bag or take that trip. Though this takes being patient, and making the sacrifice early.
I’m so happy I paid off my credit card debt during the first pandemic when we were getting those stimulus checks and although I had a job I was tired of being in debt, great video as always! ❤❤❤
I'm 38 and have had a credit card since I was 21. I used my credit card almost daily. But I pay off my balance monthly and have never paid a cent of interest in my 17 years. While I agree that we aren't taught financial literacy enough, why do people act as though common sense doesn't exist? No one had to tell me that paying interest sucks, and to avoid it.
The "hit that point where I don't care anymore" feels so incredibly real, I'm excited to feel pride over living withing my means and my financial management instead of my things and seeing others feel that same pride has been a huuuuge part of why I've been able to shift that mindset, too.
I’m 24 and I barely got my first credit card ! I never rushed into getting one. When I grew up, my father had terrible credit card debt and still to this day. So I learned from his mistakes
4:15 I don't think banks giving more money sets you up for failure if anything it helps you with your ratio. Continue to spend what you normally spend. But now it looks better for you because you're keeping a low ratio you're not mismanaging your money
I agree, but that only works for responsible card users. There’s many people who see their card’s credit limit as a spending goal because they see credit as “free money” instead of debt.
This might be a hot take, but I think a huge part of the problem is the victim mentality. The idea that society is just so far gone and that we are naturally “set up for failure”. I understand the whole system is messed up and they make it confusing on purpose to prey on people in need, but when the majority of the people in debt are simply living beyond their means and spending money they don’t have, it’s really hard for me to have sympathy. I was one of those people who was constantly charging my credit and blame anything but myself. I only started making positive changes and chipping away at my debt when I finally accepted that I am the one who did this. Financial advice is endless on the internet, but a lot of my generation would rather be blissfully ignorant, keep buying crap they don’t need, and joke about their debt so they can downplay and justify it. You will have a hard time making changes if you keep saying “I don’t have willpower”, because it’s basically stating you don’t believe you can have willpower and that you are doomed. Mindset is huge and we are more powerful than we think
I think God every day that my dad gave me the verbal SmackDown when he found out I had $2500 in credit card debt at the age of 18. He sat me down and explained how I was wasting my money on interest and what I could do instead and how to budget and monitor my spending. I’ve had a few relapses over the years, but nothing major and now I am 100% debt-free, including my mortgage, and have a decent amount of money going towards investing and retirement at 42.
Consumer dept and old phone bills are pretty much the reason why I’m in dept right now and it ends this year. It’s beyond stupid I’m never doing this again. Thankfully I’ll be able to pay off everything
I'm a baby boomer. I did not learn financial literacy in school. My mother taught me about debt and how to stay out of debt. For instance, my parents never had a car payment. They saved and bought the car outright with cash. I have since taught my son the same lessons. I don't have credit card debt and neither does he. Now we are passing this information to the next generation, my grandsons.
These people are in lala land. You don’t need stuff trust me when you’re at the end of your life you won’t care about the things you had, but the time you spend with people you love. I have medical debt from cancer, I’ve been sick for years (brain cancer, went into “remission”, came back). I can’t afford anymore treatment at this time and i can’t work from being sick and just struggling to afford essentials like food and household necessities. I don’t get these healthy people using credit on junk they don’t need! I get once in a while getting something for yourself, that you planned out, like a nice phone, or something that is really going to last you but to be spending all the time…. What are you gonna do when a real emergency happens?!! You should Be saving into an emergency fund! If you want extra money save aside money from your check each month into a “fun money” SAVE. So when you spend it, you’re not racking up bills!
High school teacher here. Taxes and credit cards classes were taught at my school last year but now that class is a “virtual” class. The teacher was so stressed because she couldn’t move on and she had to because of a test the students had to take at the end. So yes the govt listens but the lessons aren’t sinking in until the person goes through it on their own. Then that’s where another major issue comes in at.
Correct. Frivolous debt over bags, clothes and such is completely different than people trying to make ends meet because of unemployment or medical bills.
They actually do teach you how to deal with your money in high school. They taught me how to fill my taxes how to set up a checking, savings account, retirement, invest,and we even did a simulated living situation. I don’t know if every school does this, but I know most schools do.
I'm old enough to remember when Dave Ramsey got popular the financial gurus back then made him out to be crazy, said you need debt for your credit score, here we are decades later and young people are still buying into the credit score game of debt.
love listening to your videos while working my desk job at a bank! it is so easy for people to get caught up in debt as it is not traditionally taught in most schools in the US.
A huge barrier for me embracing financial advice is that I have so much shame around my financial past and lack of knowledge. I’m working through it and paying off my debt now, but it’s been a hard learning curve. I’m glad I found your channel because it’s helping me rewrite some of my internal dialogue around money ❤
I feel like saving up to buy things has stopped happening - nobody's saying you can't shop, just save up until you have the money, rather than putting it all on your credit card. The ones where people buy a house then fill it with furniture, all to go on a credit card and then be thousands in debt makes no sense to me! Just wait, live in your home and build up things over time.
I have to say it is refreshing to see so many people who want to get their finances in order and get out of debt. It can be depressing when all you see is person after person who has mountains of debt and are financially illiterate and seem to be ok with it.
I'm so glad I found your channel. I started 2025 with 60% of my student loans paid off and in a few more months, I'm going to be debt free! Financial literacy may not be taught in school, but we have the internet, y'all! Stop making excuses and start taking some accountability!
The irritating thing is that people say it’s their money they can do whatever they want!! True doesn’t mean I’m not gonna point out bad financial decisions.
I hate myself for being in debt due to cost of inflation , bills, rent, and car payments. I pay it off regularly (never late and try to pay off as much I can) but feel so trapped because I’m poor with a low paying job. I don’t even use it to buy luxury items (only use it when I’m short or in emergency situations) because I know I’ll be more in debt. Hearing other young people thinking it free non-consequential money scares me. Once your very deep in debt WITH INTEREST and terrible money management- your not getting out that debt.
I am not one to get a credit card and I understand this about myself. Know yourself and your limits some people can be so good with credit cards but majority can not.
Sometimes these TikTok’s are discouraging. I don’t buy luxury items, I don’t buy designer. I have credit card debt from some emergencies and 1 trip. It just built up over time. I can’t complete with the interest. I’m trying to tackle it slowly. It’s just a weird feeling seeing people say stop buying luxury items and you’ll be ok! Most of my apartment is from goodwill. I don’t buy new clothes often. It just feels like I can’t get ahead. I’ve read some books on building your finances but it takes time and I can’t seem to get past saving enough for an emergency fund. Thank for listening to my rant.
Look into zero interest balance transfers if you feel that you have the self control not to keep spending. This will help you climb off the hamster wheel.
Financial education and literacy are great starts, but curbing spending takes introspection and accountability. These spending patterns are behaviors and you have to confront the behavior and the motives that feed it to control it. I spent an entire year journaling and analyzing my relationship with money. I went from constant credit card debt to saving 30% of what I earn. I went from being anxious at the end of every pay period to having peace of mind. It's a hard process, but completely worth it in the end. Good luck to all of you who are striving for better. You can do it!
This! The whole "I wasn't taught about money in school!" argument makes no sense. Even without anyone telling you specifically about money, you should still be able to comprehend that substracting a big number to a smaller one will result in a negative 🙄
It's very important to understand the pros and cons of a credit card. Not everyone is pre set to understand these key responsibilities and yes, not all parents are involved in explaining financial literacy. It's important to research and ask a third party for advice (financial advisor). For myself, I don't need the latest stuff, my smartphone is three plus years old and still working (even though a new battery is needed, but not spending $140usd folding smartphone battery) until it's literally crapped out. Also, nothing wrong with purchasing a used car or smartphone.
I'm so thankful that my middle of nowhere rural Oklahoma high school had a mandatory financial literacy course that was donated by a local bank. It was a Dave Ramsey course, and while I don't agree with all of his principles, his basics were exactly what teens on the cusp of getting their first jobs needed to hear. We learned basic budgeting, saving, and was stressed the importance of NOT having credit cards. I'm 25 now and only just now got a credit card because I have a consistent income, am in the habit of budgeting, paying it off and only using it for gas. Another aspect of his courses that I appreciated was stressing to us to not buy in to instant gratification and consumerism. For an underfunded school, I really think that bank donating the resources for that class changed my life and set me up for success.
I had 3 maxed out credit lines and I went and got a personal loan to pay them off and I was gonna close them. The loan person said “Oh no don’t close your credit cards! That’ll tank your credit score!” So I didn’t close them, and now they are maxed out again. If I had just had more information and knew that my credit score would recover after some time, I would’ve closed my accounts and not be in this bigger mess with maxed out cards and a personal loan. 😅
@@kassiedelong7983 these financial advisors are so predatory with their advice if you are an impulsive buyer or are in hard times best to not even take their advice. Am glad you are finally getting rid of that debt 🙏
Best, most true advice ever! You pick such interesting topics to focus on but debt, getting out of it, not accumulating it in the first place is just great common sense and that will truly help one get ahead - it definitely did for me. Btw i know this is such a random comment to make but you have such a beautiful , healthy complexion- keep doing what you are doing- you look great!
As an European, I never really understood how debt work in the U.S. I watched a lot of Kitchen nightmares or financial audits and some business and persons have astronomic debts that maybe they could never pay off during their time on earth. When is the point that the principal of a debt is directly collected from the salary or when the bailiff comes taking furniture/house/car to sell them ?
Me getting into CC debt because my rent was doubled and it was the only way I wouldn’t go homeless 😭 Rent is one big way to go into debt very quickly, especially here in SoCal. I would move the hell away if I could afford to.
I’m glad my CC is frozen. I only have $2k debt which I’m paying off now. I’m glad my limit was only $5k. My CC was only for emergencies. I need some new tires and some other things for my car. After I got my car taken care of, I froze and cut my card up. Unless it’s a dire situation, I will NOT unfreeze my card.
I'm in my late 20s and I've never owned a credit card and nor have I ever been into debt. Going abroad and the rare spendings are limited of course, but I never live beyond my means.
so many people always talk about the lack of financial literacy, but I don’t really agree. If you graduated high school not knowing the difference between a debit card and credit card, I feel like thats person own fault. Maybe it’s just me but I thought it was basic knowledge. When people talk about not learning about stocks, retirement, insurance, or mortgages I can understand because I also didn’t know much either. But also if you don’t know, you have to help yourself. I had a semester where I only had 1 class that was required I took a personal finance class.
I LOVE THE LITTLE DEBT SONG LOLL😂😂😂 Symone IS teaching me so much about debt, my goal is to have 0 debt and to stay away from that. (I am 18 and don’t even have a credit card or debt bc I’m scared to get one😭😂)
Choosing to be in credit card debt is crazzyyyy to me. I’ve been spending the past 3 years with NDR trying to get out of it because I was broke and just needed it for groceries!!
I like to use cash for grocery shopping or getting something small, but it’s getting more difficult because a lot of self checkouts which I use when there is no cashier don’t take cash and some places don’t take cash anymore. I stopped using my debit card years ago because if it goes through a skimmer my money will get stolen from my bank account.
Listen I don’t think it’s normalized outside of social media. I don’t know anyone in “real life” (that isn’t super into social media) that think it’s normal. Maybe I have a different experience but I really think they go hand in hand. TikTok is ENDLESSLY advertising and promoting people to sell stuff. I think there’s a correlation there.
I think based off my understanding that many families are in cc debt. Unlike tiktok they aren't advertising that to the world, but I think it's a reality to a lot of American families
@@dohnjoe735of course but I meant specifically consumer debt. Those families are probably relying on CC to make ends meet, that’s a different story. And that would be more desperate necessity rather than debt being normal.
@@BloodSweatandFears oh gotcha. And that's true about families using it to survive. But I'm talking about families that would consider themselves middle class but a lots on the cc card. And the thing is: they are using it 'to make ends meet' but they are splurging as well living that middle class lifestyle like their friends. So it can't really be justified like that. (And they haven't yet woken up to the fact that their life would be improved if they cut down their lifestyle and get out of debt -- they're so stressed out that the only way to feel good is to indulge a little, which ends up making the problem worse).
They can’t force you to go into debt. They are not showing up at your house and forcing you to do this. It’s your choice. I can also speak to medical expenses. Publicly funded hospitals have to accept monthly payments no matter how small. $10 / month even.
When I came to America, I had no idea what credit card debt even is. I couldn't wrap my head around buying things you can't afford. I could only imagine taking a loan for a house or, at worst, for a car.
The problem is...are people being held accountable? I keep seeing videos talking about what WILL happen and not what HAS happened to people living this way. Not so sure they can't just keep finding credit to borrow, even after bankruptcy.
The lady in Switzerland reminded me of a video where a guy from Sweden explaining that Swedish Klarna works completely differently and didn't understand why Americans were talking badly against using Klarna.
I mean sure companies and banks don’t have our best interests at heart that’s the case worldwide. Then why is consumer debt such a huge problem in the USA specifically and not everywhere ? People need to learn to take personal responsibility. I was never taught financial literacy at school either. My mom didn’t teach me about credit cards because they weren’t a thing in my country when she was younger. She still doesn’t even have one. When my bank contacted me to propose one I replied asking for the detailed information and a template of the contract I would need to sign and read that through. Then I went on line and searched for more information. Only after all that I applied for the card and I pay it off every month I do not spend money on it that I don’t have in my checking account. It’s that simple.
@ yup and then cry about how others didn’t inform them. We live in a time where all information you could possibly need and want is literally at your fingertips but they just want to be spoon fed everything I guess 🤷🏻♀️
I've never had the desire to go and spend more than I can afford on any credit card, and I did not grow up in a financially literate family. People need to stop using not knowing about money to validate their poor choices. I learned through youtube, google, and reddit.
The young lady who talked about your environment influencing your purchases is spot on. Around here, no one really wears a designer, but you will absolutely see a 50K truck with a 20K lift kit and big tires outside of a single wide trailer. Its stupid, but you can't tell those people that until they can't pay their bills
My wife and I had to live off of credit cards for a few months, and I’m making the decision to take a penalty on my 401K (I lose my job today due to my contract ending, so bummed out), but I’m completely wiping them. Maybe not completely, but getting them down a majority. It will make me feel so much better and will give us that emergency credit back in our hands.
Do you think credit card debt should be normalized? Also what percent is phone🔋on? I'm on 19% 😭
I’m on 68% 😂
44%, and NOPE! I think the stigma should be removed, it shouldn’t be an emotional shame thing, but normalizing it is like normalizing smoking cigs
60%
carrying the debt sure seems to be the big issue! I got my first credit card knowing I wanted to pay it off before the end of each month. That DID NOT LAST after I found out my friends just carried full balances, too. Decade and a half later I finally smartened up, late bloomer I know 😭 95% cuz I just got up
58%
I racked up almost $6k in credit card debt while I was basically homeless from 2020-2023. over the last year and a half I've rehoused myself and worked my ass off, and now I have $2.6k left to pay off. it's been slow going but I can almost smell the financial freedom
Awesome job 👏
That’s amazing, keep going 🎉
🎉🎉🎉
Awesome job, well done ❤❤❤❤❤❤
You will do it🔥
Problem is people have NO discipline. No self control, worried about the wrong things in life.
So true. I love automatic credit limit increases. Navy Federal just raised my limit from $25,000 to $33,000. It helps with overall credit utilization. I don't think I've ever had over 200.00 in total on that card. Paid off every month. That $8000 increase is not a trap. It's a reward for a job well done.
Absolutely. That coat will get old, and you'll get sick of it after two wears, sneakers too. Designers' goods are just dopamine hits that will wear off right after you wear it. The whole thing is a waste of money.
Came to say the same thing! 💯 Keep a budget based in reality and stick to it.
Absolutely! Lack of accountability and need for instant gratification is a bad combo.
100% people also don’t get taught financial discipline from a young age either
On January 27th I finally became consumer debt FREE. Trust me when I say the future looks completely once you get to keep your entire paycheck.
Don't go back!
Congratulations!
As someone who made it out and fell back in and recently jumped back out, I'm wishing you consumer debt freedom until the end of time!
Congratulations 🎉
Good job, broski 👍
Well done!
Honestly I have lost most of my respect for the “they didn’t teach me financial literacy in school” argument because the Internet exists. I’m 21 and made a lot of stupid choices from 18-20, one day I just got fed up with struggling and decided I would just teach myself and learn what works for me. Yeah, school didn’t teach me, but because I am aware of that, I can use resources to teach myself. People just want excuses to ignore it
This because they don’t teach you how to make TikTok videos in school, that’s something you wanted to do and learned how, have that same energy when it come to your money but people don’t want to hear that it’s their fault.
Exactly! If someone wants to learn something it’s so easy to find that info. It’s just an excuse.
I agree. I have a friend who says her lifelong dream is to own a house and every month she is putting debt on a credit card. I have been advising her to change jobs to get a higher pay and to start some investment for 4 years now and she has not done any of it.
I did go to a high school that required personal finance and even still i have plenty of old class mates that live a life of continuous debt. It's all a choice, informed or not
To be honest, a lot of young people aren't as well versed in technology as they "should" be. I'm literally graduating from secondary school this year and a lot of my classmates struggle with opening up laptops or even typing in the correct urls and all. Though I do go to school in a very low income area. I don't think we should dismiss this excuse entirely because as helpful as the internet can be, the internet is also filled with lies and it's hard to find a source you can genuinely trust.
Normalize admitting it, not that it’s fine. Making everyone secretive and ashamed never helps
I have benefited from offered credit increases. I paid off my cards as the limits kept going up. Really boosted my credit rating.
Lol.
totally! normalize having ~ conversations ~ about debt, not normalizing the debt itself
I racked up close to 40000 worth of consumer debt , stated paying it off in September and proud to say I’m on my last 5000 and should be debt free next month.
Congrats!!
Your almost there 🎉😊
Keep doing great!
Woooooooo!!! ❤
Damn how much do you make a month?
i work for a credit card company,, during the pandemic EVERYONE decided it was a GREAT TIME to buy new furniture.. WHY? if your financial situation is not stable and you may be laid off or are not working WHY decide to buy something unnecessary? then later on when bills started coming in you cannot pay them because you are laid off or not working.. PRIORITIES people.. geez
That part! I use to work at Walmart, the season when we'd sell the most electronics outside of Christmas was tax season.
I was one of those people! I had just bought my place and had no furniture. My job wasn't in jeopardy, but I bought it because we always received our bonus annually so I assumed I would get it to pay off when the bill came. My job didn't do any layoffs but the slashed bonuses and that started my debt journey.
Exactly. The stats about people having to put groceries on credit cards never say that stuff like this could be a big reason why
I know people going into debt to order from food apps. Like thousands of dollars on that ALONE. It's insane.
😂 I thought it was just my neighbors. It’s insane watching my neighbors order food ALL THE TIME.
I don’t live in a bad neighborhood but people around me aren’t wealthy enough to pay for food delivery all hours of the day.
My husband and I realized how much we spent in eating out… so we had to stop 🤟
I saw a guy on here the other day that said some months he spent a thousand AT MINIMUM!
I felt guilty spending 60 some months😅
Had a coworker who couldn't afford the repairs on her car, but somehow had the money for a Starbucks Frappuccino and breakfast sandwich every morning, then ate out for lunch every day, then her and her husband would hit some swanky bars every weekend. Absolute disconnect and unwillingness to pack a lunch.
It's disgusting and then the whining ensues. Just stfu
The problem is that people consume the information they want, not the one they should. Theres plenty of info about STDs. People catch them regardless. There's so many cautionary testimonies about addiction, yet people are doing more drugs than ever before and the most dangerous of them at that. The financial education is there, just people don't care.
Also the “it couldn’t happen to me” mindset is an issue in these situations. They never think they will be the ones to catch and std or be the one to OD. Unfortunately I’ve lost enough friends that it absolutely can happen to anyone.
Yes, thats why sometimes it is hard to feel bad for these people. But my thing is that whoever is ready to change should be able to get the help yhey need. Even if the mistake made was completely avoidable.
My girlfriend and I have been together for 2 years and live together, and she recently realized that not only do I not have credit card debt, but I'm debt free. I worked hard several years ago to pay off over 50K worth of student loans, my new car, and 0% interest items. Never had CC debt though, thankfully my parents taught me how to use them so I only spend money I know I have.
Excellent!
I'm getting annoyed with this sentiment that these companies "set us up for failure." Corporations are going to do everything they can to make money. It is up to you as a responsible adult to not give it to them.
Right? It's such a toxic mindset, too, because the moment you feel like you don't have agency, you stop trying.
Exactly!
It's almost like they're blaming corporations for their own poor choices
@@bamboozled1668i made another comment but corporations DO try to appeal to your limbic system and do not want you to think rationally.
That being said, you have to make the effort to recognize these tactics and think critically.
I love buying makeup, it appeals to some sort of itch in my brain… i now have to literally tell myself “you truly do not need this. Youre bored. It’s not a real need”
I walk into a store and i feel the excitement rush through me but then i have to recognize this emotion and stop it from taking control of my decisions
Edit: Neuromarketing and marketing psychology are real jobs that exist to mind control you. Don't let anyone tell you differently. Corporations pay top money to know how to accomplish this!
@@Sageisback exactly! People don’t want to hold themselves accountable and blame everyone else
Husband and I lived on an EXTREMELY tight budget (I'm talking $400/month for groceries, $25/month each for fun money, etc.) to pay off all of our student loans. We've been debt-free for about 5 years now, and we plan on keeping it that way. There is no feeling quite like having no consumer debt.
And we also save up for things instead of going into debt for them! Big vacation? Save first. New glasses? Save first.
At my high school, there was a mandatory course every student had to take called Financial Literacy. Sad to see it’s not the same at all schools.
It is pretty common for people to forget/not pay attention to what they were taught in school and then decide they weren’t taught it.
They do have it in a lot of high schools, but I know for me personally, and it was more focused on like business, revenue, and profit and stuff like that less of personal finance and budgeting.
That is something that should actually be normalized
We had it too but people forget and dont pay attention. Also its difficult to get someone to care when theyre still being supported by mom and dad
@@maddiehill5726lol balancing checkbooks 💀💀💀
People struggling financially is almost always a combination of four things: systemic poverty, poor life decisions, operating in pride and ego thinking that you can do this by yourself, and occasionally, circumstances thrown at you that you had no control over.
You have direct power over two of these.
Well said
This ! It explains it so concisely and places accountability where it should be .
Everybody is not broke and in debt. People need to understand that their situation may be common , but there are those who do not live a life of brokenness and indebtedness.
When we say, “everyone” it gives some a false sense of security that their struggle is unavoidable when in fact there are alternatives.
True and well said.
I like that girl "this ain't no fashion show this is real life." Change your mindset change your focus!🎤
I love that Symone advocates for self accountability and taking action on what you can control
THANK YOU for calling out people's responsibility and their role in getting into debt. I'm so tired of seeing these content creators and people who are always talking about "the system" and how it "prays upon people," as if we're not talking about independent and conscious adults. Yes, there is a minority of people who truly do not have the capacity to make these decisions for themselves, but the majority of consumers are able adults and should have the capacity to discern these things for themselves. It is just so easy for people nowadays to rescind all accountability and blame "the system."
Well said!
5:42 the same people that make this complaint seem like the same kind of people that would've ignored school teaching about credit card usage. Teaching about taxes and cc usage is like an hour or two of teaching, it's not hard to learn about
Im really thankful that my parents drilled into my head to look at a credit card as a debit card with benefits, meaning you dont spend money you dont already have. the only time I ever carried a balance was to help pay for my first year of grad school with a 0% interest card, and a laptop with 0% interest. I've never paid a dime of late fees and I've gotten hundreds of dollars worth of benefits like free flights and hotels. Some people are just not credit card people.
I’ve been living in Switzerland for 15 years… you can’t get away with being in debt here… they will literally block your bank account till you make a payment arrangement… skip on the arrangement and they block your account and take it from you!
Also do you really even need a credit card in Switzerland?
She probably needs it for services in the US she wants to use, but a credit card is rarely necessary. And yeah blah blah consumer protection but we have those rights in general, no need for a credit card on that.
I only used my credit card to book a hotel.
@@lolololol7573 Switzerland is expensive!
I paid off my CC debt today after two years bc of you. Thank you for the motivation!!!!!!
Congrats!! 🎉
Thank you!! @@wildflowers8966
This video makes me go double check all my accounts. I have been debt free since February 2024 and it makes me nervous yet free. I can pay for things I need and save for what I want.
I grew up as an Indian in Uganda. We came from a very middle class working family and I remember going out for icecream and pizza once a month when my father deposited some money from his paycheck. My mom drilled it in me, if I can’t afford it in cash, keep walking. It was hard not having things other peers had but I now have savings and investments because of it❤
An Indian middle class kid here, my mom always taught us to live below our means, my mom dad paid off the debt on our ancestral lands that my grand dad took loans on our whole childhood. Nothing is more important to us than owning our own house. It has been drilled into me that if you should never ever be in any debt other than the payments of your house/land.
The amount of people I’ve met that aren’t mature enough to even track their spending let alone make a budget because “it gives me anxiety to look at it” is mind boggling.
I no longer let some of mg friends even complain to me about money stuff cause they refuse to budget or plan but just wanna complain about being broke.
I recently had a friend send an 8 minute long voice message to me that essentially boiled down to whether she should go to our mutual friend’s dad’s funeral or not bc she was unsure she would be able to make rent next month. I told her that as a friend, she should do whatever it takes to show up and I sent her some money to help alleviate her worry of making rent and transportation to the funeral. i gently mentioned keeping an emergency fund for situations like this and she blew up on me, sent the money back, and hasn’t talked to me since. i’ve sent her money before so im not sure why her reaction was so hostile this time. I just thought she had the funds since i see her partying and traveling in nice clothes all the time. she even got a cat this year. it just doesn’t make sense to me to see her complaining of financial trouble when i see her going out all the time.
My friends come to me sometimes to help make their budgets, I can tell based on their attitude while we're doing it if they are even going to look at it twice or if they will meet their goals
@@suncrestt4839 she got upset because she didn’t want to hold herself accountable. You’re being a good responsible friend and giving her great honest advice but she didn’t like it is why she reacted the way she did. Either way, who needs a friend like that?
9:03
This woman is such a content farmer. Is she really trying to act like like you can't find free financial resources online and offline to help you make smart financial decisions? She's acting like we have no agency because credit card companies have marketing budgets.
Like girl, stop giving people bad advice and finish your foundation. I can't stand these Tik tokers who make these "damned if you do, damned if you don't" videos because they're basically saying, "You're never going to be financially better than you are, so you might as well do whatever and feel good."
I think these people legitimately do not have the ability to problem solve as they've never really had to without someone jumping in to help them.
I see it in people at my work all the time, "how do I do X?" "How do I find out how to fix this issue?"
Google it.
There is a difference between credit card companies being predatorial and someone being willing prey.
@BlakeC27 Okay and? Like I said, a company having a marketing budget and being able to convince people to take out loans is not an inevitably that people can't avoid.
As I said, there are free resources everywhere that can teach you about debit and credit and what happens when you take out loans. If you don't want to be bothered to seek out those resources, don't turn around and play victim because, "I didn't know how because no one taught me". Take responsibility for yourself and stop relying on everyone else to fix your blind spots.
@@mephistopheles4910 Sounds like the person you replied to is agreeing with you.
I think she’s saying that if so many people are in debt, it may be a system problem and not just an individual problem. It doesn’t matter whether people have agency if the result is that a majority of people are in debt. Sure there are some that only pay with cash or debit but that is a minority of people. Lastly, the entire financial system is backed by debt. If no one owed any debt, we would actually be in a worse place because that’s what actually makes people get out there and work, start businesses, etc.
The dramatic music is killing me😭 but very much necessary 0:23
"Stop spending money on that bs; you can get it later when you're rich." I love that quote. It really gets at how people should prioritize making good financial choices at the start, building their foundation and emergency fund. Then, once they have that, they can responsibly buy that bag or take that trip. Though this takes being patient, and making the sacrifice early.
I’m so happy I paid off my credit card debt during the first pandemic when we were getting those stimulus checks and although I had a job I was tired of being in debt, great video as always! ❤❤❤
I'm 38 and have had a credit card since I was 21. I used my credit card almost daily. But I pay off my balance monthly and have never paid a cent of interest in my 17 years.
While I agree that we aren't taught financial literacy enough, why do people act as though common sense doesn't exist? No one had to tell me that paying interest sucks, and to avoid it.
The "hit that point where I don't care anymore" feels so incredibly real, I'm excited to feel pride over living withing my means and my financial management instead of my things and seeing others feel that same pride has been a huuuuge part of why I've been able to shift that mindset, too.
I’m 24 and I barely got my first credit card ! I never rushed into getting one. When I grew up, my father had terrible credit card debt and still to this day. So I learned from his mistakes
4:15 I don't think banks giving more money sets you up for failure if anything it helps you with your ratio. Continue to spend what you normally spend. But now it looks better for you because you're keeping a low ratio you're not mismanaging your money
I agree, but that only works for responsible card users.
There’s many people who see their card’s credit limit as a spending goal because they see credit as “free money” instead of debt.
This might be a hot take, but I think a huge part of the problem is the victim mentality. The idea that society is just so far gone and that we are naturally “set up for failure”. I understand the whole system is messed up and they make it confusing on purpose to prey on people in need, but when the majority of the people in debt are simply living beyond their means and spending money they don’t have, it’s really hard for me to have sympathy. I was one of those people who was constantly charging my credit and blame anything but myself. I only started making positive changes and chipping away at my debt when I finally accepted that I am the one who did this. Financial advice is endless on the internet, but a lot of my generation would rather be blissfully ignorant, keep buying crap they don’t need, and joke about their debt so they can downplay and justify it. You will have a hard time making changes if you keep saying “I don’t have willpower”, because it’s basically stating you don’t believe you can have willpower and that you are doomed. Mindset is huge and we are more powerful than we think
I’m trying so hard to pay off my debt. I wish we had never used one to begin with.
you can do it!!!
You can do it!
Thank you. We are definitely trying. And we are making dents!!
I think God every day that my dad gave me the verbal SmackDown when he found out I had $2500 in credit card debt at the age of 18. He sat me down and explained how I was wasting my money on interest and what I could do instead and how to budget and monitor my spending. I’ve had a few relapses over the years, but nothing major and now I am 100% debt-free, including my mortgage, and have a decent amount of money going towards investing and retirement at 42.
Funny how it's always someone else's fault for their decisions. It's not that you're a failure because of your choices, it's the 'systems' fault
I go to dollar tree and ball out of control. When I’m done, I’ve only done 30 dollars worth of damage.
Consumer dept and old phone bills are pretty much the reason why I’m in dept right now and it ends this year. It’s beyond stupid I’m never doing this again. Thankfully I’ll be able to pay off everything
I'm a baby boomer. I did not learn financial literacy in school. My mother taught me about debt and how to stay out of debt. For instance, my parents never had a car payment. They saved and bought the car outright with cash. I have since taught my son the same lessons. I don't have credit card debt and neither does he. Now we are passing this information to the next generation, my grandsons.
Same here.
These people are in lala land. You don’t need stuff trust me when you’re at the end of your life you won’t care about the things you had, but the time you spend with people you love. I have medical debt from cancer, I’ve been sick for years (brain cancer, went into “remission”, came back). I can’t afford anymore treatment at this time and i can’t work from being sick and just struggling to afford essentials like food and household necessities. I don’t get these healthy people using credit on junk they don’t need! I get once in a while getting something for yourself, that you planned out, like a nice phone, or something that is really going to last you but to
be spending all the time…. What are you gonna do when a real emergency happens?!! You should
Be saving into an emergency fund! If you want extra money save aside money from your check each month into a “fun money” SAVE. So when you spend it, you’re not racking up bills!
High school teacher here. Taxes and credit cards classes were taught at my school last year but now that class is a “virtual” class. The teacher was so stressed because she couldn’t move on and she had to because of a test the students had to take at the end. So yes the govt listens but the lessons aren’t sinking in until the person goes through it on their own. Then that’s where another major issue comes in at.
Correct. Frivolous debt over bags, clothes and such is completely different than people trying to make ends meet because of unemployment or medical bills.
They actually do teach you how to deal with your money in high school. They taught me how to fill my taxes how to set up a checking, savings account, retirement, invest,and we even did a simulated living situation. I don’t know if every school does this, but I know most schools do.
my school did not teach me this in the southern US
I'm old enough to remember when Dave Ramsey got popular the financial gurus back then made him out to be crazy, said you need debt for your credit score, here we are decades later and young people are still buying into the credit score game of debt.
Instant gratification...
People don't realize that sweater that was on sale for $60 ends up costing TRIPLE that when you finance it at 30% 🙄
love listening to your videos while working my desk job at a bank! it is so easy for people to get caught up in debt as it is not traditionally taught in most schools in the US.
A huge barrier for me embracing financial advice is that I have so much shame around my financial past and lack of knowledge. I’m working through it and paying off my debt now, but it’s been a hard learning curve. I’m glad I found your channel because it’s helping me rewrite some of my internal dialogue around money ❤
I feel like saving up to buy things has stopped happening - nobody's saying you can't shop, just save up until you have the money, rather than putting it all on your credit card. The ones where people buy a house then fill it with furniture, all to go on a credit card and then be thousands in debt makes no sense to me! Just wait, live in your home and build up things over time.
I have to say it is refreshing to see so many people who want to get their finances in order and get out of debt. It can be depressing when all you see is person after person who has mountains of debt and are financially illiterate and seem to be ok with it.
The day I paid off $7000 of debt I felt such relief. Now I am so frugal with the things I purchase.
I'm so glad I found your channel. I started 2025 with 60% of my student loans paid off and in a few more months, I'm going to be debt free! Financial literacy may not be taught in school, but we have the internet, y'all! Stop making excuses and start taking some accountability!
Please continue to discuss these topics, Symone. It's absolutely necessary that our society opens its eyes. 👀
The irritating thing is that people say it’s their money they can do whatever they want!! True doesn’t mean I’m not gonna point out bad financial decisions.
If it were their money, they'd be absolutely right. But it's not their money, it's the bank's money.
I hate myself for being in debt due to cost of inflation , bills, rent, and car payments. I pay it off regularly (never late and try to pay off as much I can) but feel so trapped because I’m poor with a low paying job. I don’t even use it to buy luxury items (only use it when I’m short or in emergency situations) because I know I’ll be more in debt. Hearing other young people thinking it free non-consequential money scares me. Once your very deep in debt WITH INTEREST and terrible money management- your not getting out that debt.
Keep this conversation going. Respect your money not others opinions 👌
I am not one to get a credit card and I understand this about myself. Know yourself and your limits some people can be so good with credit cards but majority can not.
Sometimes these TikTok’s are discouraging. I don’t buy luxury items, I don’t buy designer. I have credit card debt from some emergencies and 1 trip. It just built up over time. I can’t complete with the interest. I’m trying to tackle it slowly. It’s just a weird feeling seeing people say stop buying luxury items and you’ll be ok! Most of my apartment is from goodwill. I don’t buy new clothes often. It just feels like I can’t get ahead. I’ve read some books on building your finances but it takes time and I can’t seem to get past saving enough for an emergency fund. Thank for listening to my rant.
Look into zero interest balance transfers if you feel that you have the self control not to keep spending. This will help you climb off the hamster wheel.
Started listening to this and got on Capital one and closed a card with zero balance on it. I'm done with debt.
Financial education and literacy are great starts, but curbing spending takes introspection and accountability. These spending patterns are behaviors and you have to confront the behavior and the motives that feed it to control it. I spent an entire year journaling and analyzing my relationship with money. I went from constant credit card debt to saving 30% of what I earn. I went from being anxious at the end of every pay period to having peace of mind. It's a hard process, but completely worth it in the end. Good luck to all of you who are striving for better. You can do it!
This! The whole "I wasn't taught about money in school!" argument makes no sense. Even without anyone telling you specifically about money, you should still be able to comprehend that substracting a big number to a smaller one will result in a negative 🙄
It's very important to understand the pros and cons of a credit card. Not everyone is pre set to understand these key responsibilities and yes, not all parents are involved in explaining financial literacy. It's important to research and ask a third party for advice (financial advisor). For myself, I don't need the latest stuff, my smartphone is three plus years old and still working (even though a new battery is needed, but not spending $140usd folding smartphone battery) until it's literally crapped out. Also, nothing wrong with purchasing a used car or smartphone.
We all have choices. Theres a certain point where you gotta take accountability and make better choices for yourself for the future
I'm so thankful that my middle of nowhere rural Oklahoma high school had a mandatory financial literacy course that was donated by a local bank. It was a Dave Ramsey course, and while I don't agree with all of his principles, his basics were exactly what teens on the cusp of getting their first jobs needed to hear. We learned basic budgeting, saving, and was stressed the importance of NOT having credit cards. I'm 25 now and only just now got a credit card because I have a consistent income, am in the habit of budgeting, paying it off and only using it for gas. Another aspect of his courses that I appreciated was stressing to us to not buy in to instant gratification and consumerism. For an underfunded school, I really think that bank donating the resources for that class changed my life and set me up for success.
I had 3 maxed out credit lines and I went and got a personal loan to pay them off and I was gonna close them. The loan person said “Oh no don’t close your credit cards! That’ll tank your credit score!” So I didn’t close them, and now they are maxed out again. If I had just had more information and knew that my credit score would recover after some time, I would’ve closed my accounts and not be in this bigger mess with maxed out cards and a personal loan. 😅
I’m slowly paying them off with the snowball method and my credit score has gone up 23 points since last month!
@@kassiedelong7983 these financial advisors are so predatory with their advice if you are an impulsive buyer or are in hard times best to not even take their advice. Am glad you are finally getting rid of that debt 🙏
Or you could have lock your cards until the credit card people close the account. Do that next time.
Also cut up the cards with scissors too. ❤
@@ed-0364 I have officially closed them so that I can pay them off with no chance of spending anymore on them! ☺️
You're supposed to use a CC as a tool. Use it, pay it, dont let the bank profit and reap the benefits or cashback and/or air miles
People credit card statements definitely don’t only be filled with needs, I don’t be tryna hear the excuses lol
Best, most true advice ever! You pick such interesting topics to focus on but debt, getting out of it, not accumulating it in the first place is just great common sense and that will truly help one get ahead - it definitely did for me. Btw i know this is such a random comment to make but you have such a beautiful , healthy complexion- keep doing what you are doing- you look great!
You are so kind, thank you!! 💓
It's not like they're locking away those books/etc. The information is available to anyone who looks for it. We just don't know to look...
exactly! it’s about normalizing having ~ conversations ~ about debt (and making plans to get out of it), not normalizing the debt itself
Unless it is a house, never buy anything with debt. If you can't pay 'cash' for it, you can't afford it.
As an European, I never really understood how debt work in the U.S. I watched a lot of Kitchen nightmares or financial audits and some business and persons have astronomic debts that maybe they could never pay off during their time on earth. When is the point that the principal of a debt is directly collected from the salary or when the bailiff comes taking furniture/house/car to sell them ?
And don't forget about bankruptcy (private or business)
And most businesses are LLC (limited liability corporation) meaning that the owners are not personally responsible for the debts of the business
I came for the message but your hair is so cute!!!! Styling my locs like this tonight now lol!
I think this victim mentality is what getting people stuck in debt. They need a reality check.
Not getting a credit card advertisement on this video... But you are so right. The only thing you can control are your choices.
Me getting into CC debt because my rent was doubled and it was the only way I wouldn’t go homeless 😭
Rent is one big way to go into debt very quickly, especially here in SoCal. I would move the hell away if I could afford to.
The economy is so unstable at the moment too. It’s not worth the risk for materialistic items
I’m glad my CC is frozen. I only have $2k debt which I’m paying off now. I’m glad my limit was only $5k. My CC was only for emergencies. I need some new tires and some other things for my car. After I got my car taken care of, I froze and cut my card up. Unless it’s a dire situation, I will NOT unfreeze my card.
My friend, you are doing the Lords work with this channel- educating ppl so they avoid the quagmire of living in debt. Keep going!❤❤
I'm in my late 20s and I've never owned a credit card and nor have I ever been into debt. Going abroad and the rare spendings are limited of course, but I never live beyond my means.
Love the hair! Keep up the great work 😊
Thank you!! 💕
Plus we have so much information right at our hands
This is why I don’t have a credit card. I am very self aware to know I am NOT a credit card person. Im good 🙅🏽♀️
so many people always talk about the lack of financial literacy, but I don’t really agree. If you graduated high school not knowing the difference between a debit card and credit card, I feel like thats person own fault. Maybe it’s just me but I thought it was basic knowledge. When people talk about not learning about stocks, retirement, insurance, or mortgages I can understand because I also didn’t know much either. But also if you don’t know, you have to help yourself. I had a semester where I only had 1 class that was required I took a personal finance class.
Im so close to getting out of credit card debt. I can taste it! My limit is up to $35,000. Crazy.
I LOVE THE LITTLE DEBT SONG LOLL😂😂😂 Symone IS teaching me so much about debt, my goal is to have 0 debt and to stay away from that. (I am 18 and don’t even have a credit card or debt bc I’m scared to get one😭😂)
Choosing to be in credit card debt is crazzyyyy to me. I’ve been spending the past 3 years with NDR trying to get out of it because I was broke and just needed it for groceries!!
I like to use cash for grocery shopping or getting something small, but it’s getting more difficult because a lot of self checkouts which I use when there is no cashier don’t take cash and some places don’t take cash anymore. I stopped using my debit card years ago because if it goes through a skimmer my money will get stolen from my bank account.
Listen I don’t think it’s normalized outside of social media. I don’t know anyone in “real life” (that isn’t super into social media) that think it’s normal. Maybe I have a different experience but I really think they go hand in hand. TikTok is ENDLESSLY advertising and promoting people to sell stuff. I think there’s a correlation there.
I think based off my understanding that many families are in cc debt. Unlike tiktok they aren't advertising that to the world, but I think it's a reality to a lot of American families
@@dohnjoe735of course but I meant specifically consumer debt. Those families are probably relying on CC to make ends meet, that’s a different story. And that would be more desperate necessity rather than debt being normal.
@@BloodSweatandFears oh gotcha. And that's true about families using it to survive. But I'm talking about families that would consider themselves middle class but a lots on the cc card. And the thing is: they are using it 'to make ends meet' but they are splurging as well living that middle class lifestyle like their friends. So it can't really be justified like that. (And they haven't yet woken up to the fact that their life would be improved if they cut down their lifestyle and get out of debt -- they're so stressed out that the only way to feel good is to indulge a little, which ends up making the problem worse).
They can’t force you to go into debt. They are not showing up at your house and forcing you to do this. It’s your choice. I can also speak to medical expenses. Publicly funded hospitals have to accept monthly payments no matter how small. $10 / month even.
When I came to America, I had no idea what credit card debt even is. I couldn't wrap my head around buying things you can't afford. I could only imagine taking a loan for a house or, at worst, for a car.
The problem is...are people being held accountable?
I keep seeing videos talking about what WILL happen and not what HAS happened to people living this way. Not so sure they can't just keep finding credit to borrow, even after bankruptcy.
If you can't pay off your "treat" (whether it be a new purse or a fun vacation) immediately, don't buy it.
The lady in Switzerland reminded me of a video where a guy from Sweden explaining that Swedish Klarna works completely differently and didn't understand why Americans were talking badly against using Klarna.
I mean sure companies and banks don’t have our best interests at heart that’s the case worldwide. Then why is consumer debt such a huge problem in the USA specifically and not everywhere ? People need to learn to take personal responsibility. I was never taught financial literacy at school either. My mom didn’t teach me about credit cards because they weren’t a thing in my country when she was younger. She still doesn’t even have one. When my bank contacted me to propose one I replied asking for the detailed information and a template of the contract I would need to sign and read that through. Then I went on line and searched for more information. Only after all that I applied for the card and I pay it off every month I do not spend money on it that I don’t have in my checking account. It’s that simple.
People will sign a credit card contract they haven't seen as quick as they click through terms of service 😂
@ yup and then cry about how others didn’t inform them. We live in a time where all information you could possibly need and want is literally at your fingertips but they just want to be spoon fed everything I guess 🤷🏻♀️
55% and we shouldn’t normalize credit card debt…I was about to accept mine but I am going to keep digging myself out 😮💨 then cutting the cards
I've never had the desire to go and spend more than I can afford on any credit card, and I did not grow up in a financially literate family. People need to stop using not knowing about money to validate their poor choices. I learned through youtube, google, and reddit.
The young lady who talked about your environment influencing your purchases is spot on. Around here, no one really wears a designer, but you will absolutely see a 50K truck with a 20K lift kit and big tires outside of a single wide trailer. Its stupid, but you can't tell those people that until they can't pay their bills
My wife and I had to live off of credit cards for a few months, and I’m making the decision to take a penalty on my 401K (I lose my job today due to my contract ending, so bummed out), but I’m completely wiping them. Maybe not completely, but getting them down a majority. It will make me feel so much better and will give us that emergency credit back in our hands.
My first video of yours. I really liked it. I think you were clear, calm and gsve grounded insight. Thanks for video!
Thank you!! 💕 I appreciate you for listening.