You can’t tell most people anything. Someone in my family recently got a predatory car loan. A lot of people do dumb stuff financially then blame other people.
Ed you are a person with rare abilities!! Focus,common sense, intelligence,discipline, appreciation for frugality,and compassion for others !! Well done !!
It's also other factors that no one wants to admit. While in the military in the late 80s, I literally met a long-term relationship while riding on the subway. Try doing that these days.
I have no mortgage, no car payment, no student loans and no credit card bills. Unfortunately, I'm 64 and have zero retirement savings. I will work until I die, but will have a place to live and maybe enough food.
If Home is paid off that's great. Maybe wait until 70 for Social Security and still work part time. Hopefully can make it if no debt. Stay in good shape if planning to work past seventy
I know someone whose financial life is a complete train wreck of their own doing. She has a law degree & still managed to lose a house, car , no savings, also had gap in years of not paying on her student loan & they finally started to garnish her wages - when she did work . She is 69 years old & still has to work to make ends meet. But - the kicker - she still blames society & circumstances for her not getting ahead. Folks like this play victim for their own short comings. She also never wanted anyone’s advice thru the years … after all she knew everything ! She had a law degree 🤔 And was smarter than anyone else ! NOT !
I think for a lot of student loan borrowers the covid payment pause and income based payment plans will be something they will come to regret participating in. As far as having pets (dogs and cats) are concerned, the responsible thing to do is to have a line on your monthly budget for pet care and a sinking fund to actually put the money into every month. We have 1 dog and 5 cats and the actual cost is about $300/month. My wife went to school to learn how to groom dogs and while she doesn't do it, we do not have to pay that expense. So, $3600 per year for pets this is not a little bit of money. Every now and then a big vet bill comes up and BAM! I know a lady that has a dog and this pet is keeping her poor.
In regard to the woman who was mentioned with the student loan debt, she is also paying off student loans that she took out on behalf of her kids. But there was no mention as to whether they are helping her pay them off. I'm going to assume they aren't. I don't understand how college level educated people can't do the simple math on how the interest can possibly increase their payments. I wasn't a math major and even I was able to do this, which led me to the decision to work and pay for it as I went along
Very hard to not be stuck in the system. I have attempted. I am a state employee and am not high wage earner Our society is created to keep you in debt, slavery
I was like that for ten years out of college. 6 figure broke. Then I stopped drinking the cool aid. Amazing how much bitcoin I could buy when I became so frugal that I paid for nothing.
My first thought was where the heck did she go to school back in the 80’s? My undergraduate averaged $3000 a semester for the university I attended from 1997-1998. I even got Pell grant money since I was 25-26 at the time. What about the first two years? Mostly part time between 1992 to 1995 using mostly employer reimbursement. I did get help from the folks when I decided to go from my AS to an AA and then the BA as well to be fully transparent the last couple years. But I proved that I was serious working full time while going to school part time from 1992 to 1995. But even without the help, maybe $40,000 in student loans at most in 1998. I would of paid that off after at most 10 years.
Education is definitely more expensive than the 90’s. A lot more. But there are idiots that take the max loan for each semester. That’s why their student debt is so high and more than what their degree cost.
I don't think there is such thing as loans being too old on the SAVE program but you had to be making payments for 20 years. So if she wasn't paying it would make her ineligible
Saving for retirement should be automatic. If you are in a position that doesn't pay enough to save 10% of your income, you need to cut expenses so you can. This may require moving, downsizing, or get another job that pays more, which in some areas you can't make more money, in other words, you're at the top of the pay scale for your job. I don't agree with Dave Ramsey on everything, but several years ago, I happened to listen to one of his callers who had literally the same financial situation as mine, and he told her if you do xyz you'll have X amount by FRA. Well, don't you know it he'll be right.
Try telling that to a milennial or a gen Z. They can't grasp the concept of living below their means. No matter how much or how little you make, live below your means and save, save, save.
That’s definitely not true lol. Especially when the wife could be a stay at home mom. Back then it was about love and family. Most women now see it as a secure means of living as long as you are rich. There’s a reason most men say no to marriage now.
John 3:16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
If I ever made 6 figures, I'd work for two years and save 90 percent, then retire forever. I make only 10k and save 80 percent, and am up 100k. I don't know where people get all this money and how they can squander it all.
Prices have gone up. Even here recently I’ve seen stuff at Walmart go up. Democrats have almost killed the middle class. It’s sad when it gets to a point when you have to look at certain food as a need vs want. And I’m not talking about junk food.
Thats is a ridiculous thing to say. Exactly how do Dems kill the middle class??? They don't control prices and even Orange Jesus just admitted he can't either. He conned you into believing he has some magic powers. The repubs are way more harmful to the middle class. Who gave us ACA, SSI, Medicare and the SAVE program?? What have repubs given. Stop being so ignorant.
A simple dish of pasta, parsley garlic and olive oil is pretty easy to make as is a tuna casserole and many others! Everyday is not a damn holiday and the fact that many can't or won't take the time to learn how to cook is on them and not some phantom democrat!
You can’t tell most people anything. Someone in my family recently got a predatory car loan. A lot of people do dumb stuff financially then blame other people.
You could have loaned them the $. But you wouldn't since they are not reliable enough to pay it back.
Ed you are a person with rare abilities!! Focus,common sense, intelligence,discipline, appreciation for frugality,and compassion for others !! Well done !!
They think that they can afford the car because the finance guy at the dealer told them that they could.
It's also other factors that no one wants to admit. While in the military in the late 80s, I literally met a long-term relationship while riding on the subway. Try doing that these days.
I have no mortgage, no car payment, no student loans and no credit card bills. Unfortunately, I'm 64 and have zero retirement savings.
I will work until I die, but will have a place to live and maybe enough food.
😢
If Home is paid off that's great. Maybe wait until 70 for Social Security and still work part time. Hopefully can make it if no debt. Stay in good shape if planning to work past seventy
buy scrub land if u like.
Consider a roommate if your house has an extra bedroom. I know that sucks but it's still an option
Dave Ramsey is quoting the Bible when he warns, " the borrower is servant to the lender."
Love daves method makes it simple for people
Always fun to listen to Edward
I know someone whose financial life is a complete train wreck of their own doing. She has a law degree & still managed to lose a house, car , no savings, also had gap in years of not paying on her student loan & they finally started to garnish her wages - when she did work . She is 69 years old & still has to work to make ends meet. But - the kicker - she still blames society & circumstances for her not getting ahead. Folks like this play victim for their own short comings. She also never wanted anyone’s advice thru the years … after all she knew everything ! She had a law degree 🤔 And was smarter than anyone else ! NOT !
Another Great! video Edward. Keep up the great work. I wish you a very merry Christmas and hopefully a happy beginning to the new year!
Stay stacked 💰 and stay jacked 💪
I think for a lot of student loan borrowers the covid payment pause and income based payment plans will be something they will come to regret participating in. As far as having pets (dogs and cats) are concerned, the responsible thing to do is to have a line on your monthly budget for pet care and a sinking fund to actually put the money into every month. We have 1 dog and 5 cats and the actual cost is about $300/month. My wife went to school to learn how to groom dogs and while she doesn't do it, we do not have to pay that expense. So, $3600 per year for pets this is not a little bit of money. Every now and then a big vet bill comes up and BAM! I know a lady that has a dog and this pet is keeping her poor.
There is no reason to regret income based plans at all
I over-extended & spent $18 on a beef roast for Christmas.
How dare you! :)
In regard to the woman who was mentioned with the student loan debt, she is also paying off student loans that she took out on behalf of her kids. But there was no mention as to whether they are helping her pay them off. I'm going to assume they aren't. I don't understand how college level educated people can't do the simple math on how the interest can possibly increase their payments. I wasn't a math major and even I was able to do this, which led me to the decision to work and pay for it as I went along
Very hard to not be stuck in the system.
I have attempted.
I am a state employee and am not high wage earner
Our society is created to keep you in debt, slavery
Dad used to use brillcreme on hair.
Brillcream: 'A Little dab will do it'.
I was like that for ten years out of college. 6 figure broke. Then I stopped drinking the cool aid. Amazing how much bitcoin I could buy when I became so frugal that I paid for nothing.
My first thought was where the heck did she go to school back in the 80’s? My undergraduate averaged $3000 a semester for the university I attended from 1997-1998. I even got Pell grant money since I was 25-26 at the time. What about the first two years? Mostly part time between 1992 to 1995 using mostly employer reimbursement. I did get help from the folks when I decided to go from my AS to an AA and then the BA as well to be fully transparent the last couple years. But I proved that I was serious working full time while going to school part time from 1992 to 1995. But even without the help, maybe $40,000 in student loans at most in 1998. I would of paid that off after at most 10 years.
Education is definitely more expensive than the 90’s. A lot more.
But there are idiots that take the max loan for each semester. That’s why their student debt is so high and more than what their degree cost.
She's also paying off students loans for her kids that she chose to take out
@ what sucky kids
We live in a predatory world if you’re not eating somebody’s eating you
It's the way the white man set up his system around the globe. Thank the white male mindset and ego.
Fiscal responsibility 🎉🎉
I don't have much sympathy for those that didn't pay their debts.
I have zero sympathy for people struggling with debt. You always see them out and about living large on a credit card.
I don't think there is such thing as loans being too old on the SAVE program but you had to be making payments for 20 years. So if she wasn't paying it would make her ineligible
Saving for retirement should be automatic. If you are in a position that doesn't pay enough to save 10% of your income, you need to cut expenses so you can. This may require moving, downsizing, or get another job that pays more, which in some areas you can't make more money, in other words, you're at the top of the pay scale for your job. I don't agree with Dave Ramsey on everything, but several years ago, I happened to listen to one of his callers who had literally the same financial situation as mine, and he told her if you do xyz you'll have X amount by FRA. Well, don't you know it he'll be right.
Try telling that to a milennial or a gen Z. They can't grasp the concept of living below their means. No matter how much or how little you make, live below your means and save, save, save.
Merry Christmas Edward answer your lamp and rug
These are prety good story hello montreal quebec tx
All marriages in the past were based on simple survival, not romance. No problem going back to that..
That’s definitely not true lol. Especially when the wife could be a stay at home mom. Back then it was about love and family. Most women now see it as a secure means of living as long as you are rich. There’s a reason most men say no to marriage now.
Gross no
John 3:16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
Every religion says that religion and god have nothing to do with each other.
If I ever made 6 figures, I'd work for two years and save 90 percent, then retire forever. I make only 10k and save 80 percent, and am up 100k. I don't know where people get all this money and how they can squander it all.
Exactly 😂! I've Been surviving on 30k for last 10yrs! And in excellent health condition age 53. Life is so easy in los angeles 24/7.
No you wouldn’t. You would still need to work for years.
🍚🍛🍙🍶😂
Prices have gone up. Even here recently I’ve seen stuff at Walmart go up.
Democrats have almost killed the middle class. It’s sad when it gets to a point when you have to look at certain food as a need vs want. And I’m not talking about junk food.
Thats is a ridiculous thing to say. Exactly how do Dems kill the middle class??? They don't control prices and even Orange Jesus just admitted he can't either. He conned you into believing he has some magic powers. The repubs are way more harmful to the middle class. Who gave us ACA, SSI, Medicare and the SAVE program?? What have repubs given. Stop being so ignorant.
A simple dish of pasta, parsley garlic and olive oil is pretty easy to make as is a tuna casserole and many others! Everyday is not a damn holiday and the fact that many can't or won't take the time to learn how to cook is on them and not some phantom democrat!
I really dislike Dave Ramsey. He told a lady to let her dog die rather than put the vet bill on her credit card.
One of his staff members told a lady 85 to get a job. Lol
Dave Ramsey sucks but you can't say that to his diehard devotees