We’re in Trouble With Debt
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- Опубликовано: 19 май 2024
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America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
Collapse is generous 1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them. Reckoning for participation trophies is incoming.
Asking for advice or assistance from a consultant or investment coach is the best line of action if you lack market understanding. Even though it sounds cliche or apparent, talking to a consultant has helped me stay afloat in the market and increase my portfolio to roughly 65% since January 2023. That, in my opinion, is now the most successful strategy for entering the market.
Would you mind recommending a specialist with a variety of investment options? This is extremely rare, and I eagerly await your response.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’COLLEEN ROSE MCCAFFERY” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
“ I buy whatever I want whenever I want “
Yep she’s definitely part of the problem
He told her to. Do your ears not work?
@@OopThereItIs77777 don’t you have any critical thinking ?? There’s always a limit to anything . You can’t just believe that you can’t just buy anything without hitting a limit
The lying 🤥 husband is the other part.
At least she recognizes the problem.
Buying whatever you want, when you want on CREDIT CARD, is a red flag in itself.
Not necessarily. We use credit cards to pay for things, but then we pay those off every month.
@@biffm.2806yeah, but not “whatever you want”…while assuming someone is just going to pay for it. How stupid.
@@biffm.2806 Americans do. The rest of the world doesn't. It makes it easier to fall into financial trouble.
Exactly, She wanted to stay home not work and live lavish. She should of check with him first as-well as making sure she had funds. This time there is no one else at fault other than herself for being a little bit stupid.
CC are actually a loan.
The most frightening aspect of this call is that she was a doctor.
I wonder if that's true.
A person can be a genius in one area, and a dullard in another.
Dave has mentioned before that many of his clients are Doctors. Brilliant people who are terrible at managing finances.
For some perspective, the first lady is a doctor.
Doctors generally don’t accumulate much wealth over their lifetimes despite their high incomes.
When your husband tells you it’s ok to quit working and just buy whatever you want , you better know exactly what your situation is and what that means . She just dives right in
she actively, knowingly & willingly gave up her ENTIRE power / choice / safety... to another human. She knew 100% exactly what she was doing. And now she's complaining. She 100% had choice, unlike the centuries of women before her. And now she's complaining about HER choice and trying to blame him. He fcked up... and she actively enabled him the entire way.
She knew that he HAD to work. If then he HAS to work, he is not wealthy enough for her to buy whatever she wants.
He sounds abusive. The fact that she feels the need to sneakily call is a red flag.
Stop buying junk you don’t need with money you don’t have. To impress people who don’t even like you.
AMEN!! I am sick of excuses
and often people you don't even really like.
Tyler Durden 😎
I agree. People buy all this crap to try and impress others. You only need some basic essentials for you and your home.
u mean dont buy a 60k car, and get a college school loan lol. cause that's where it's goin
We can't ignore the potential impact on portfolios. Bonds are often considered a safe haven, and if they crumble, investors like me might scramble. I’ve been investing for 11 yrs and my $1m portfolio has never been this depleted, how i do hedge this?
In fact, markets have incorrectly priced in such a pivot six times over the last two years, according to Deutsche Bank, which sounded cautious about this seventh time. Still showing us why pointers from market experts are essential
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Same scenario over and over, expensive degree, winds up staying home. Living on credit cards, pool, big house no money. All to show off for the neighbors
who would want to work like a man, while pregnant or with a newborn? not any smart women. she just needs to stop spending, nothing wrong with staying home. she was sold the lie of a career.
I mean it's true...but at least they got the house now LOL
@TanManFixes She said she will probably lose her home because she can't afford it
Low self esteem is the cancer of humanity
@@TanManFixes
No it's not paid off. It's not theirs unless it's mortage free
"There's nothing manly about secretly going into debt"
Yikes! I’m a doctor. No pool, 10 year old pickup, no debt except house, kids’ college paid for, house payment well under 10% of my income.
That is great!
Good on you!
You are awesome!!
Me and my husband are both immigrants living in USA for 25 years. Came with no money. We are debt free and our house is paid off, both have new cars paid off. And we earn together around 70 000 a year. If we can do it everyone can.
REAL curious on the school loan debt ....
I lived off of "bean and rice" for a few years. This enabled me to pay off $258,000.00 of student loans and credit cards. Today I have no debt. Car is also paid off.
What do you go to school for?
damn you were earning good $$$ if you could pay off over a quarter of a MILLION dollars in a few years.... the privilege!
@@pseudopuppy160 "The Privilege"? Maybe it was hard work, determination and a massive mental effort to improve his/her life for the better. Unless you are mentally a vegetable, most anybody can do the same if they want to.
“I get to stay home and buy whatever I want when I want” 🤢
Disgusting 🤮
She’s definitely part of the problem
He convinced her. That is his fault.
She's an idiot and thought she was in fantasy land
I'd like to hear from him, did he ACTUALLY say buy whatever you want?
Not unless he's a BILLIONAIRE!!
Me and my husband are both immigrants living in USA for 25 years. Came with no money. We are debt free and our house is paid off, both have new cars paid off. And we earn together around 70 000 a year. If we can do it everyone can. We are both 45 years old.
Boomer comment of the day award
@@BillDaBurgerEater honestly how? Why are most legal immigrants doing waaaaay better in this country than the people born here?
At 45 years old that makes them generation X.
My wife and I are both younger at 42 and 34 and we have a small 3 bedroom house with ten years to pay off and a ten year old Toyota we paid cash for.
It takes time to build wealth the Ramsey way but it will work if you stick to it long term.
@@vigarobugsbunni Its because we dont take this country for granted. Also we were trained back in our country to discipline and living below our means.
I'm 48, living in a 1.1 million dollar house that I owe $100k on. kids going to private school. Everything else paid off. I was born here. People just waste so much of their lives trying to remain kids until they are middle aged is the problem.
Too many people choose the lifestyle without much regard for the income. "I deserve this, I deserve that." You don't "deserve" what you can't afford.
Well yeah, but they didn't even bother to discuss financial stuff prior to getting married? I am not sure I am buying this call.
👏👏👏
@@danielrn133 I think she just heard what she wanted to hear, and that was that.
“I used to be a doctor, but now I just stay home”
Excuse me?! 😳
Yep. That's quite a waste of a degree and money that it cost her for that degree.
@@vickieclark5931
So is a Masters in Sociology
@@vickieclark5931 All the time management, money, studying, dedication, it took to be able to be a doctor.
In my eyes, She could’ve still worked and still bought “whatever I want.”
He better have been a much more successful doctor than she was for a doctor to be the one to be the stay at home parent.
A dentist I knew retired in his early 50s. I used to think that was weird, then learned his wife makes more than $1 million a year as a business owner.
If you do so well that your doctor husband becomes a stay at home husband, you’re doing pretty good haha.
I like the calls from people who make normal salaries and genuinely need help. Most of the calls these days are from rich people who can’t handle money.
Yes we need more calls from regular folks the un rich low income people.
I like seeing both, having issues with debt isn't just an income problem and seeing high income earners falling into the same traps shows us that it's not a moral failing. Anyone can get stuck.
@@AnthonyJones142 nobody should have trouble when they make 6 figure salaries. They just live above their means and then get upset when they overspend it. You heard what the husband said. Buy what you want. That is why most of the rich are in debt.
I can see where that initial reaction comes from, but I realize that folks with less money are not the only ones who need help.
Listen to enough calls, or talk to enough people in real life and it becomes apparent that the having of money is not enough when one hasn't built the skills to handle said money.
Right, like the stupid lady the other day who says they make 750k and don't know if they should pay off their cars.
Husband probably said "Baby, you can buy anything you want" in a lovey dubby way while they had a romantic moment. And she took it literally 😂
People say a lot of dumb stuff when they're in the fog
Gross, she is a doctor… She has the emotional maturity of a child.
I suspect she’s deeply religious
No she doesn't, she believed her husband when he said he'd handle everything. And now she's stepping up and trying to fix it even when her husband wants to hide it.
@@WeShareTheSameAffliction Shes’s a child. She’s selfish, took no accountability and now she’s playing the victim 🤷♂️
@@hasani9110 Statistically speaking, the most emotionally immature people currently are gen Z and they practice little to no religion at all. They are predominantly anti-religion.
@exceedinglyaverage1179 Which she owned up to. Now she's taking accountability by calling and trying to fix it, while her husband acts like a child by hiding it and taking no accountability.
Id feel terrible if my wife feared me to the point were she was afraid to speak on the phone when I'm in the room. It would kill me if she fears me in any way.
People are missing that part. They’re ripping her but forget he was hiding the finances and she entrusted him with them as instructed…sounds like he’s the issue here
He's abusive.
"Buy whatever you want"...wtf...and she just rolled with it? Haha.
A proper man communicates with his wife and she is not afraid to speak to him about finances. Reconsider this arrangement. Sounds like she's scared.
As soon as there is trouble the woman wants to be treated like some clueless innocent little child SMH. Pull up your accounts and look at them now and then sweety.
Sounds like the husband here wanted an innocent little child, and got what he wanted. Both have screwed up here.
I think honestly she just put too much trust in her husband at taking care of the financial stuff
So a woman who claims to be a doctor, is a stay at home mom, and her and her husband are in debt because she constantly spends, but doesn't know what to do. I'm not a financial adviser but let me take a crack at it: STOP SPENDING AND GO TO WORK - YOU'RE A GODDAMN DOCTOR. Honestly, I think this caller was a troll...lol
I know a lot of female doctors who quit their jobs after having babies. Doctors work crazy hours and you either have to quit your job or hire a nanny because they work hours that don't work with daycares that are 7am-5pm
He better have been a much more successful doctor than she was for a doctor to be the one to be the stay at home parent.
Agree with you if she is a doctor she needs to go back to work to help payoff the debt. Doctors don't always work bad hours; put those kids in daycare or work opposite schedules.
You have issues of your own to deal with with a comment like that. I suggest looking into your suspicious nature. Calling a distressed woman a troll is unacceptable. You will never come out of your problems with a mindset like that.
*People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.*
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
I'm surprised that you just mentioned and recommend Mr Joseph Lubin. I met him at a conference in 2018 and we have been working together ever since.
Sounds interesting. I was planning to invest some few £ in some coins, stack them up and leave them for a few years, but seeing this changed my mindset. Thank you very much
*he's mostly on Telegram, using the user-name ...*
*@Joseff_lubin*
I've been listening to Dave for 10 years, and this might be my favorite advice I've ever heard him give. If she can lay it out like he said, it's going to make a hard conversation much easier.
I see this all the time. All house and fancy cars and these people have absolutely nothing!
Never ever let your partner, husband/wife handle the finances "for you". Always do the monthly bill's together, and review all statement's. Get a free credit report every year, for the both of you, to make sure there is no other new debt/CC's, that are being hidden. I can't believe that someone who is smart enough, and has the work ethic to become a doctor (she didn't say just a PhD), would allow this.
College doesn't make you smart.
Why would anyone assume they can buy anything they want on one income, even two income? Unless you are or married to a billionaire, you need a budget. Money is not infinite. I'm retired and my husband still runs his company. I have a significant balance in my checking account. However, when we were very young and first married, we agreed to discuss any purchase over $500 with our spouse. Our household income is significantly higher but the $500 agreement is still in place. It works for us.
$500 is too high. You could easily be spending $2,000/month on daily knickknacks, eating out, subscriptions, etc
Agree with the sentiment unless you're married to someone completely above and beyond normal society financially, it's a recipe for disaster to spend indiscriminately and assume all is well.
Where is Baloney when u need him.... " Are you safe? Living in a big house looking at your pool..."
it's just you, me, your pool boy, and a million other people listening
That is funny!
For real. Deloney would've been calling her husband a coward and telling her to consider divorce.
Don't jump into the pool!
“Create a plan. It’s not as hard as not knowing.”
How are you guys coping with this inflation? Even with the downturn of economy and ever increasing life standards
Stacey Macken's strategy has been instrumental in helping me navigate the past few months. Without it, I don't think I would have made it through
Stacey demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
Her expertise is truly commendable. She has this skill of making complex crypto concepts easy to understand..
This Woman has really change the life of many people from different countries and am a testimony of her trading platform
Its simple, you were a doctor and went to one income but didn't change you lifestyle
Unreal what these callers do. I’m no genius but I have a four year college degree and yeah I have made mistakes but I was a stay at home mom for years and never once thought I could buy what I want when I want even if we were millionaires, I wouldn’t have that mentality. Proof that being a college graduate or having some fancy title doesn’t give you any freaking common sense
They are married. He does not have more debt then her.
And she just say's that she buy's what she want's when she want's.
no ' needed in those
"I want to be lazy, not work, and spend all I want." We both worked with two kids. Get to work, lady!!
And who did you farm your children off too? ! And like Dave said, her husband should be helping run the household too. Raising kids is one of the hardest jobs there is.. and one of he most important. A parent, whether it be the mother or the father is Not lazy, staying home, taking care of their children.
Jim, you get sicker and sicker. I’m praying for your wife.
She could probably cut back to what hubby can Actually afford.
I agree with this. 4 years ago when my wife and I decided to fix our finances following the Ramsey method, we got in a routine of doing all budgets and finance planning together. I lead the house hold but we make all decisions together and are accountable to each other. So far its working fantastic. Currently we have zero debt with the exception of our mortgage. The end of this month we renegotiate our mortgage and with the past 4 years of double monthly payments and yearly lump sums we've paid off over 2 thirds of our mortgage ($108,000) and will be 18 months from paying it off completely. My wife and I did it together.
One of Dave's best calls after watching for 10 years.
If John were here he would ask her if she was safe after how she started the call…
They can all call themselves "Doctor" but by law they can't refer to themselves as "Physician". In Texas the Medical Board would refer anyone trying to confuse ppl into thinking they were a Physician to the local District Attorney's office for criminal prosecution.
Who can buy "What they want, when they want"? And if per chance you're in that 0.000000000001% that can, why the heck are you using a credit card? These people are in lala land. They are off with the fairies.
“Doctor”. Of what? Chiropractor? Podiatrist? Aromatherapy? If she’s an MD and this clueless it probably better she’s stays at home spending money they don’t have.
Her degree is solid. She needs to get her license back and jump back into work.
Tell this man you are a team! And this is a 2 person challenge. And you can solve it together.
No the most frightening is , it was suggested she apologize to him, so it didn’t hurt his male ego!
What a waste of resources for society to educate women as doctors, then have them decide not to be doctors. Those resources could have been spent to make a doctor who will actually BE a doctor not only for their own benefit, but for the benefit of society as a whole. How many people with the talent to be doctors, cannot merely for the lack of resources.
What does the husband for a living where "buy whatever I want" can be part of the budget? More details. Also, why become a doctor and rack up student loan debt just to stay home? Probably can afford a nanny if both are working. Makes zero sense.
Because you want to raise your own kids. It’s not that difficult
I got my #1 degree for FREE, paid by an alumnus.
I didn't get a degree for money, I did so because it was FREE.
@@alqoshgirl then why choose to spend 12 years in school and go 300k+ in debt if you only planned on working for a few years then taking an 18 year break? obviously we understand mothers wanting to raise their kids, and people make choices to make that happen, she made dumb choices. she likely didnt plan on having kids, chose to be a "working woman girl boss" and then her baby making clock started screaming that time was running out, and she chose to ditch the career for her kids. the more likely option is that shes just lying and was never a doctor. doctors cant be that dumb...
living beyond their means. financial ignorance.
Beautifully done!
"How can we help?"
When you build a house of cards you never know exactly when it will crumble
Damn. Poor husband at least tried 🤷♂️. No pun intended. Every man wants to be “THE MAN”. It’s not easy. Dave legitimately gave great advice here. 🙏💯
Great advice. Thanks
This call shows the importance of honest communication and transparency in a relationship. Scheduling a dedicated time to discuss financial matters together is key to a good relationship, even if it is late at night or early in the morning. No one should ever assume that matters have been handled. It's important to monitor the situation before problems arise and disaster strikes. Otherwise, history may repeat itself again.
If this woman was a doctor, I was the president.
I'm an Olympic sprinter
Dude I am an RN. I am telling you there are a hell of a lot of docs making horrible life decisions.
Y'all act like that mean she makes only good life choices.
Turns out the FLOTUS is a doctor.
@@jeanettealfred3054me too. See you in Paris
Her world is falling apart and she's worried about the pool lol
I thing she mentioned the pool to basically say her luxury lifestyle isn’t worth, bc debt is tearing her family apart.
Pools start going green when not attended to
“I’m a doctor but my husband doesn’t make enough money”. Uhhhhhhhhh I see an obvious solution
Dear Humans,
"Money you can borrow" does NOT mean "money you have."
Thank you.
Love, other sentient beings
-"I will have to hang up when he comes in"
-*Gives crazy one sided story*
-*Starts crying randomly mid sentence*
Yep, that sounds like none of this is her fault at all. At least Dave didn't rant that this is all the guy's fault; he loves doing that in these situations.
Never give up financial power. Women fall for it every time.
A whole doctor? That man has got a big hold on her. I feel like she is not letting out all she is going through sadly. Hopefully she gets out of it
Both she and hubby are just irresponsible.
She's panicking because the debt collectors are after her car.
When both people buy thing to make themselves happy vs a relationship .🤔
“The things you own, end up owning you” - Tyler Durden
WOMEN....stop leaving family finances 100% to your husband!
And men stop leaving it just to your wife
John is probably wishing he were in this call to ask, “are you safe!”
Don't jump into the pool
Praying for your friend
I wish I could look at my joke of a swimming pool, wtf 🤦♂️
🤣🤣🤣 LOL
why do they so often give gifts to the rich people? this lady could be making 500k a year if she wasnt a bum, she doesnt need a budgeting app gift
I’m looking at my pool” 😅 oh no poor them
Why doesn’t she just go back to work till they get it all paid off.
Delony needed to be on this call. She is a mess.
I quit my job and now I buy whatever I want and now I am broke??? Motherhood is a job, get to work.
I’ve never heard of someone becoming a doctor and then staying home..
There are a few calls on Ramsey of docs not working. It happens when they have kids a lot of the time and they want to be home. The best was the one who just graduated owing 400K and was only working 1 day a week because she didn't want to get "burnt out".
Hope the best for them
She can conduct telemedicine virtual visits at home if she wants to stay at home.
What a waste of a relationship...good grief
Finally he's putting some blame on her. But it is all her fault.
She said he didn't pay "her" credit card bill was not paid in full?
They probably have separate finances, which is a Ramsey no.
But she was panicked. I think that was the first thing they needed to address. Trying to address anything else would have gone over her head.
Why would you spend all that time and money to go to medical school just to abandon your career and stay home to find yourself in this situation? She and her husband are both a piece of work.
Whats the comment about the pool being a joke? Because they spent money on it they didnt have? Because it hasnt been cleaned in awhile cuz there no money to clean it?
She needs to take classes on how to properly communicate instead of calling into a show
If being married mean having a parasite as a wife who just sits around buying whatever she wants off my dime, marriage aint for me
She may not be a physician---people get doctorates in many fields of study.
As a doctor she should go back to work immediately! She should have still taken charge of the financial situation and not leave everything to her husband. One of my concern, though, is her life could be in danger as some horrible things have happened to families in such situations that one couple ended it all! The reason is that she indicated that she will hang up if her husband walks in...that's a real concern!
Why are you dumping it all on her?
She clearly said she dosent want to hurt her husbands feelings/ego. You clearly didnt listen.
I’m not even sure what the problem is. They spend too much money? How about stop spending…..
Am I the only one that really thought that she was genuinely frightened for her safety? My initial vibe on this call was that the husband is some sort of control freak who wants to keep his wife under control. She is scared not because of their debt - but she is genuinely scared of her husband. But maybe I am the only one that felt that while listening to the call.
You're not the only one. I got that feeling, too. This sounds like an upcoming episode of Dateline.
This lady needs a therapist. The fact that she got emotional about George saying he was going to gift her Every Dollar leads me to believe that she just wants to be heard and "seen" more than she actually wants help managing her finances. She can't even get her husband to talk to her about the finances, do they think he's going to die to himself enough to go through a line-by-line budget every month? Seems like a stretch.
Carry the whole thing by yourself. The whole thing is the problem. Live by your means. Stop buying everything you want and only what you need.
This is why my grandmother told me to always have my own cab fare. 😮
Never met a stay at home dr. …
I am a stay at home doctor.
The husband has not been honest about the true financial position of the family.
lol my pool is a joke..first world problems
She has the nerve to start crying? LOL. I buy whatever I want...immaturity at it's finest. Grow up, you can't raise healthy kids when you act like a child.
advice: "apologise for accepting his offer to buy what you want, when you want!! How dare you accept his offer!!!" Seriously?????
That's like blaming the customer for the kitchen cooking the wrong food. She was dumb enough to go to her husband's restaurant (because clearly it's a dive with a filthy kitchen).... but HE SCREWED UP THEIR FINANCES.
The Dave Ramsey, people... That's how you handle calls like this. 🤣
I'm a PhD vs MD. I had an advantage over MDs debt wise since science PhDs get paid to get their degree and usually don't need loans. That MD degree is expensive!
OMG, this is crazy. How do you just spend and think the bills get paid.
I couldn’t control my spending and I spent all my husbands money now I’m going to have to move into a smaller house and it might not have a pool 😢
🎻
2:02 “He’s such a wonderful father and husband”….the f? No he’s not lmao. You can’t even talk to him about money. Another thing that perturbs me is she did all this education to be a doctor who should be helping society and now she sits on her butt at home. Like lady we need more doctors. Get off your ass and go be one.
A doctor who is unable to communicate with her spouse. No surprise she isn't practicing.
OK DOCTOR
Some peope are book smart and life dumb.