Bad Financial Decisions Keeping People Broke
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- Опубликовано: 7 фев 2025
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Shocking Financial Decisions Keeping People Broke
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DISCLOSURE: I am not a financial advisor. I am sharing my personal opinion on all topics discussed in my videos. Please seek professional advice when needed.
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Just sell puts and calls, or use dividend capture. Deal with quality stocks, and dont go crazy. When you have a 50%+ profit close out your option position, things can change fast.
Man, when I turned 19 I took $20 to the casino to see how it was. It lasted 3 minutes and I never went back.
I did that but it was $1700 and lasted a few hrs never went back
I took $50 walked out with 1k bought a car and never went back.
It was a sheriff auction car from 1998
Did that with a $100 dollars and like you never went back. But I did last for 30 minutes, like that makes a difference 😅
This channel is a gold mine for young people. You can save so much money and get yourself started the right way.
This channel is a goldmine for JJ!
I wish I had these videos when I was starting out 20 years ago.
The best decision I’ve ever made was hold my self accountable for accruing so much debt, and taking action to get it paid off.
I have my 16 yo watching your vids. She will start working this summer and along with my help these vids will be so beneficial bc I refuse have to her swimming in debt
TikTok has endless content for bad financial decisions. Great video bro. Getting out of debt one day out at a time
Keep going!
so does youtube
8:50 was an insane audit. I hope he left her, she will RUIN him.
Do you know the name of the audit?
I saw that one, she has serious issues. She flew to L.A. to get her hair done for a wedding. They'll never be able to retire at this rate.
23 and have around 2k a month in disposable income and recently started investing in index funds because of you.
A senior citizen here and I would like to expand on your statement about buying long term investment stocks. We bought a bunch of safe stocks over the years that paid dividends and let them reinvest. We had auto deduct, usually $100-$150 a month. Now that we are retired we collect the dividends and get about $1000 a month which makes a big deal when you are on social security. We still have the equity in our stocks and can leave them to our kids. People put too much in their 401K's but when you are in your 70's you have to take the money out whether you need it or not and pay taxes. Spread your money around when young. Only put in a 401K up to the match, get a Roth IRA too because when you are old and you need 40K you can take it out of the Roth without paying tax.
Smart woman
Been doing this since I was 15. ( I didn't have a 401k at that age but I saved for a trade school. And what I didn't use was immediately when i graduated i put into a Roth. I'm 31 now and have just shy of a mill
If you can’t pay in cash, you can’t afford it! (Excluding a home)
Facts
I use a debit card. 😂
I think a mortgage is understandable but a spade is still a spade. If you need to finance damn near anything you simply can’t afford it. Most ppl are financing a home they can’t afford as we speak.
0% APR is a good deal... have to disagree... in that scenario, keep your cash or investments
The emotional benefit of a paid for car is way better than that extra investment spread…that’s why I’m paying off my 3.3% mortgage in the next two years
Recently turned 22 and reached a networth of over $100k!
You are an inspiration j j I remember the videos of the weekly portfolio videos way back years ago
Can’t wait to document it on the channel as I am in the golden phase where the compound takes affect quicker at the $100k mark
Why would you choose such an expensive school? This will take years to pay these loans. I cannot imagine doing this.😮
I find that hard to believe. 😂
Another 10 years, you'll see 7 figures. Nice job!
@@BREEZYM6015 why is it hard to believe I literally have videos of it 💀
@@BREEZYM6015it’s doable, and it’s also my goal as well, 100k net worth at 22, im on track to finish my bachelors in software engineering at 19 and already have some projects and experience
When I was 18 and again in my mid twenties. I didn’t know anything about money, but one of the smartest things I did while in college was only taking subsides loans out. I also rented or borrowed 95% of all my books. I dropped out after my first year because I didn’t even want to go to college. A few years later I went back and got my associates RN degree. I then went to an online accelerated program and got my BSN in 9 months. I graduated 2020 so my loans didn’t accrue any interest. I ended up travel nursing in 2022 and paid off my loans of just under $30,000 before loans started accruing interest again last year. I was debt free 3 1/2 years after graduating my first program. 😊
I don't get it. SAVE. I'm retired, still bringing in 6 figures with investments. LIVE UNDER YOUR MEANS.
What did you invest in
I will be paying off my mortgage this month and focus on saving and investing for the future.
Let’s go!!!
Back in 2020 I financed an iPhone XR from a rent to own place. I just cared about the payments but when I did the math it was over 3 grand.
Insanity, luckily I was allowed to opt out whenever I wanted but lost all the money I paid already. I got 6 months into it and smartened up and got the exact phone for 300 bucks refurbished.
I saw this couple on Caleb’s show. They have no sense and deep in debt. , I wonder why people just keep spending and charging. 😢I find it hard to feel sorry for them.😮
I hope they can improve financially after the show 🤞🏼
Wish I found your account when I was 18, I’m now 23 and these videos are really helpful they don’t teach us anything about money in school
750,000 is INSANE
Me and my wife did the date night talk about finances last month. I can't even begin to explain what a difference this was and how it helped her and me.
Big note, make it a night out. We went to Olive garden, had a table and note book. Being out of the house made a huge difference with how we talked about this and building goals.
750,000 😂Ive got jack Daniels vice grips and paper towels. I'll get that tooth out of ya for free
That gambling one almost made me burst out in tears and I’m literally at work😭 It sounded so depressing but he said he was just now doing good and he’s out there advocating for something. Good for him
The one thing I have noticed in the personal loan transactions is how they advertise a low interest rate, set you up for a loan at a bit of a higher rate, then when you actually sign all the paperwork, your actual interest rate is twice what it was supposed to be or more. Personal loan companies commit fraud on a daily basis.
The higher return, the higher risk. There is no such thing as easy money. If you remember this, you understand basic risk management. Never invest in things you don’t understand 100%, and spread risk. My grandmother was talked into by a slick banker in investing into so odd investments. My brother and I found out and got her out of it without a loss, but she was very lucky. Good investments is long term and take patience. I don’t F around with money.
It's a good channel probably for young people but not older people
Due to your video, I asked my GF how much she's in credit card debt....... not a good ending to that story.
😳
At least you know now. Maybe something you guys can discuss
I beg to differ, good end to that story because you didn't wait until she was your wife to find out the financial situation
I don't believe that story has ended. Remember, conflict is not the end; it's the plot.
The vast majority of people carry credit card debt. Especially people in their 20s, early 30s. I paid off all my CC debt in 2021 only to get back into debt thanks to car repairs, family vacations. Truth is, income simply isn't high enough to live a regular middle class life. Right now I am paying $1100+ a month in CC payments and my current CC debt will be paid off in 6 more months which is right before my car gets paid off.
Such a GEM of a channel. For real tho!
I’m trying to learn finances!!!
The best thing you can do! Just take it one step at a time.
There's lots of info online but the YT channel "minority mindset" has some great learning videos in it's library... Simple, informative and the host, Jaspreet Singh, is great... Good luck.
It will change your life!
1. Have income
2. Strict Budget.
3. Always Pay yourself first
4. Invest & save a a smaller percentage
5. Ex: If you make $60k, live like you make $30k.
6. Stay disciplined and stay out of debt.
@@TheGerbsteve I will! I’m very disciplined now and when going grocery shoppin’, I get what lasts, what I need, and get what I want if I have extra
@@TheGerbsteve Number one may not be a possibility... Number two is so vague it's useless... Number three needs to be properly defined.. Number four is vague at best, incorrect at worst... And number six, again, just too vague... "Stay disciplined"? That word means something different to everyone... They need actual, concrete financial knowledge, not a pep talk.
She's planning to leave him....Smh! And he doesn't even see it. The hiding money and he didn't even flinched pissed me off!
😢
You are right. Finances are one of the main reasons for divorces. Preventative measures prior to marriage: sit down with a financial advisor or someone who teaches financial education to discuss how both people think about and manage their finances. Open and honest discussion. If during this time both people cannot come to a compromise about handling finances or have incompatibility, it’s better to end the relationship or it will undoubtedly end during your marriage.
This is perfect!
I prefer to stay single. 😂
@You can still find someone you may be compatible with. Be your authentic self and you will be open to it.
@@jjbuckner Thank you! Love your videos! You are a very wise advisor for all your listeners! Keep up the great work!
I would add in, for legal protections keep all finances separated. Regardless of what either have, there should be a prenuptial agreement that spells out what happens concerning kids, assets and debt if the marriage ends. The main problem our society has with marriage is believing that when they get married, it will never end while divorce rates are in the 70% range.
Bad fandom decisions: Being a Jaguars fan
I thought the options guy was going to say he lost $150K
I got an add for consumer credit after this video 😂😂
Really like this new style of videos! Haven't watched you since back when you were mostly talking dividend stocks
$7000 I thought the first guy was going to say something significant. He should be glad that he learned his lesson already.
I took 2 years of economics in highschool. Sadly it's not a mandatory thing to take, but so many people would be in less of a shit hole if they had. Am I rich...no, but i'm not making stupid financial choices. I also know what politicians are talking about when they spew their nonsense.
😳My nephew is in school to be a dentist and he will come out of school with maybe 50,000. He joined the Air Force and got the first 4 years free and then is paying most of the other 4 years as he goes.
If you aren't using options as a volatility hedge, and you have no idea what I just said, you should not be touching options.
It’s available to everyone. It comes down to impulse control. He wasn’t whimpering when he was gambling away money that wasn’t his.
When buying a home, make an amortization table with Excel. Free tutorials on RUclips. It's a must do to understand interest vs. Principal.
That poor gambling guy almost made me cry 😢
That deposit match made bank for the bookie
I have $1700 left to pay off on my credit card (for emergency car repair) and then I'm 100% debt free!!!! Car is paid off so from here on out I only have my monthly spending of $200 for groceries and then all the rest of my income can go towards emergency fund, then eventually investing! I've cut out all monthly costs by making my own beauty products and doing eveything myself so I never have to spend on personal upkeep cause growing my own aloe and plants for lotions and such. Plus I cut my own hair and do my own nails, and anything cosmetic so I dont even have any monthly budget for that! I sew my clothes so I don't need to buy any new ones and cook everything at home to keeo my grocery bill low. Always open to more tips on how to save money though! I'm so blessed and have so much but any extra I could save or share with my family is such a good feeling and finally makes me feel on top of things!
Your mate should be a very happy person,keep up the good work
This type of spending started when people started saying “yolo”
13:50 we go out for quesadillas and margaritas. We get into the BEST conversations about money and politics after about half a pitcher 😂
This is the way. 🤣
When I took out student loans I didn’t think about being conservative so that I would not be so stressed when it was time to repay. I took the max and went ham.
Took me ten years to pay $184,000 at 7.75% interest.
Lesson well learned
Happy it’s paid but that was quite the journey
💪🏾👍🏾🏋🏾♂️🙏😎🏃🏽♀️💃🏾🔥❗️
How is 60 percent legal?????????
Wait...so don't YOLO my life savings into GME? Oops hahahaha
Money really does help keep us calmer!... I certainly know that. I'm 19, lately I've been "overconsuming" not in make up or in clothes, but in collectable figurines... It's a hobby, but I think I should slow down and not buy as much. I want to save 10k if I can and I know I cannot do that by spending and buying constantly.
That gambling story just broker my heart…
Ok, If I tell you how much Im potentially sitting on will you tell me aboutvyhose "options selling opportunities" lol
the pain in your eyes at 4:00
Man the first lady, I would love to know what she needed that $4500 loan for? 😮
I've seen other videos from her, she has a gambling addiction.
Wow! and that's why i don't gamb!
Feel soo bad for that dude. FM.
Taquitos!!!! Love Caleb Hammer!!
Being a Jaguars fan.. let’s talk about it. 😂
Finance needs to be a mandatory high school class.
NEVER BUY OPTIONS!
Sell options, GET 100 shares and sell covered calls. NEVER EVER EVER BUY
I can loan out money at 65%?!? How do I find these suckers..... I mean borrowers?
Don't ever use the debt avalanche method only use the debt snowball.
Awesome shirt brother 👍👍
Regarding the dental school tuition, the numbers are a bit odd. Most dental school are 300k-400k for 4 years. The outliers are Cali and NY schools which are around $500-600k (which is insane). Maybe her $750k is from dental school + specialty residency which is another 2-6 years. If she’s an oral surgeon, she might be okay. If the $750k is just from poor financial decisions…. Then good luck to her…😶
the jaguars are bad NFL team decisions 😂 I'm kidding!!
If you're buying and selling on a daily or even weekly, for that matter, basis, you are gambling... Everytime you decide it's best to buy, some one else has already decided it was time to sell.... Like poker, you will run into people better at it than you... It's "time in, not timing"... Warren Buffet?
If you are buying stocks in the market, you are gambling no matter if you are doing short term or long term. They call it investing, but that’s not really investing. The number one reason our stock market is so high is because of how much money is sitting in it. At some point, there will be another vehicle that everyone will dump their money into and our markets will slide down just like what happened with Great Britain after the petrodollar deal.
Diversity isn’t owning mutual funds. It’s owning real estate, stocks, bonds and other actual investment types.
@barnabusdoyle4930 Getting into the car every morning is a "gamble" so don't play word games with me... The rest of what you said has nothing to do with the intensions of my comment, you're just opening up new conversations so, not interested, take care.
Options will wreck you.
Love from Palm Beach
🫶
700k in debt… I wouldn’t risk having sex with that. Eww
This is a new standard for me I’m under 10,000 in debt around 6,000 which I’m paying off anyone over that amount I could not even entertain romantically it’s a very foolish decision
@@candicezeno938 I love to hear it!!! I have 0 debt, majority of wealth in stocks. I plan to live off the dividends, and go back to Japan with my Japanese wife. We rather raise kids there than in the States, but thats another story. lol
Love it!
18:15 I GAMBA my channel points
How is 65% even legal ?😮
God bless Jack Bogle.
Always Vanguard your money.
That blond woman wants 2nd home? She just using his money and don't even care if him. I see this marriage heading in a divorce soon...lol
I watched that episode and most viewers thought she was having an affair and the other person lived there or something. I was just surprised seeing that the couple didn't have any shared financial/future goals, but they already had 2 kids. The guy would be way better off without her...
READ contracts and make sure you understand them. I was pitched a loan for installing a furnace. They made it sound easy at 9% for 5 years. Well that is better than paying up front? Wrong!! It's a 3rd party to the furnace people although they push it for the sale. I read the contract - the monthly payment of $60 won't pay off the loan in 60 months. Contract said if not paid off, it rolls into another 84 months (that's 7 years - total of 12 years) at an interest rate that THEY determine not 9%. I looked them up online and so many horror stories of people paying for years and their balance doesn't go down. Legal loan sharking! And they put a lien on house which is really bad. READ and UNDERSTAND. Like the lady who paid for over a year on $4500 and only paid $400 on the principle - payment going to interest.
Where's the sofi vids? You still holding?
Oh yes!! Took some profit on my LEAPS today
Trading options and memes is not for the weak.
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
Her name is. 'Sophia Irene Powell’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Options... can work if you do it slowly, cut your losses quickly, and never ever bet everything into one option. Do it piecemeal.
But yeah, there is a reason why 90% of people end up making no money from short term trading.
Even worse the online sports betting, are online casino's. Online casino's are destroying more and more lives, putting so many through so many debt.
She’s hiding more than money from her marriage
I thought rates over 25% were actually illegal?????
Man, didn't see you as someone who would ever write an options contract. Correct me if I am wrong, but isn't the loss potential for the writer theoretically unlimited?
What's your favorite team..?
"The Cowboys"
Who's your favorite player?
"None... They all suck."
Watched the whole video, love the content. However, I want to say this…..Go Dolphins!!!!
I absolutely loathe people with their get rich quick schemes. As though they’ve got something figured out that hedge funds haven’t already tried with AI and software designed to predict future markets. They always look soo slovenly too.
It’s generous of you to think there are hundreds of other people dumb enough to sign up for a 64% personal loan.
15:00 should go to Poland and paid i dont know 1000-2000 usd per 6 months ;)
😂 7k people loose millions in crypto
Off topic, but your background looks like you're filming from inside a tent. 😅
I am
I doubt he's in a tent. 😂
Good video!
Thanks Corey!
17:56 I made someone in my office cry because of that. It was inadvertently though. lol. I noticed some of the young junior officers suddenly going out every day to buy kfc as there was a "deal" going on. On the third day, I stopped and said, "I earn more than you, but I can't afford to eat KFC every day because it will get in the way of my financial goals."
(Which I am happy to say that I have since achieved. I'm still a bit worried about inflation though)
Couple days later, one of the other members of staff called me over because one of them was crying. Seems she did a budget. She was crying when she realised that she wasn't going to get anywhere financially on her salary given her fixed costs of living. She also realised that even if she stayed in our organization on her career path, it wasn't going to help. Fortunately, our government at the time, could afford to subsidize tertiary education of all kinds (It's been cut back now), and so she started to qualify in something else.
I left the organization since then, so I don't know her end story.
I'm all for financial literacy and all, but it's really not your place to comment on your coworker finances.
It’s tough being a Jags fan JJ 😩
Love your videos!
@@Jash7911 very tough…
If your partner spends $600 at target and then immediately regrets it, then they're shopping out of boredom. Try spending more time with your wife and making plans with her. The wife shouldn't spend that money still, not absolvong the responsibility there, but yknow it could be a vice and they don't realize it and the spouse just blames instead of trying to relate. Seems like nowadays everyone is a victim to online shopping and their phone and trends :[ its getting sad.
A lot of people don’t agree with me but the schools should be teaching children about loans, budgeting, interest rates, percentages and the value of compound interest. Most adults don’t understand it. This is an excellent channel JJ. I think a lot of young people benefit from watching you! For years I watched my friends and neighbors buy expensive homes and cars. They went on fancy vacations too. I tried to save the money for trips. I could never find it in the budget to take one. Now my husband and I are retired, no debt, paid off home and 500,000 in an I RA. Most of my friends think they will never retire. I’m glad I stayed the course and didn’t try to keep up with the Joneses
Most schools do teach it. Families just don't live it so kids don't absorb the lesson very well
The last line is what schools need to teach the most.
"Don't try to keep up with the Joneses"
Unfortunately JJ is not accurate on many points and when he was called out for those inaccuracies, he refuses to admit and correct his errors.
Oh god that lady on Hammer was just pure evil. She was 100% using that simp of a man. She had one concern, herself. They have kids too! I really hated her.
Dude you're a Jags fan????
Worse, virtually all sports gambled on are rigged. I mean what coach does what det did last year to lose on purpose?
Do you use Acorns? Is it worth it 🤔
Really a Jags shirt? They suck 😂
I’m not a bandwagon fan.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Do you still have your rentals?
Yep! Working on a flip right now
Can you do a video breaking down the rentals. From purchase to today?
Stocks are not really gambling in crypto in my opinion it not really gambling either as long as you invest in the right stocks in cryptocurrency and not these pump and dumps you'll be good and with stocks usually people invest in the s&p 500
750k for a dental school is MADNESS!!! Wtf bro smh thats crazy she double screwed herself