In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
“ Melissa Terri Swayne is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
Let me make sure I understand how these student loans work. She has 77k in debt, so at 5% interest that would be $320 in interest alone every month. Her minimum payment is $32, so if she only made minimum payments her loan balance would be increasing by about $288 every month?! no wonder people never get them paid off.
@donaldlyons17 Why should the loan get cheaper? If you agreed to the terms and conditions, why should the terms change? Both parties agreed on the amount to be loaned and paid back. You have no argument. Pay your debts.
@@Dragonologist You right and that’s why people shouldn’t borrow money… the agreed upon terms are often one-sided in favor of the bank. But a deal is a deal.
We need a Dave Ramsey group for those of us with income under $20 hr. I have a degree in business but no one has been hiring other than call centers (& even that isn’t hiring this year)
Have you looked at hospitals? We have 1000s of people with the title admin assistant who make good money, with good benefits. I started at 45k/yr and i’ve more than tripled my income in less than 10 years (I took advantage of tuition discount to get my MBA) - health insurance is paid for with max out of pocket at $1,250/year. And they put 12% additional into 401k (that accoubt is over $400k without “me” contributing- i have a separate Roth IRA that i co tribute to). Note, i work for a university hospital :)
I don't have e a business degree but have my own small business and have been running businesses for people since around 2012. Do you just have a degree? Any experience? Might need to go get some smaller business under tour belt with an owner you personally know to get your experience for a year or 2 first. Could easily ask for 20 but even if it's less just do it for a while to get what you need
I have worked at a hospital and still there, been there for over 15 years, I only make 36,000 year. Take out taxes, insurance etc. I now have a 2nd job. I do what I gotta do.
How long ago have you graduated ? Amazon has a program where they hire people that graduated within the last 2-3years as a manager starting pay 62k with about 8k in stock every year they hire anyone look it up.
Alicia, it will be ok. It's been 3 years since we have cut our credit cards. It feels so amazing. We will never go back to consumer debt! Trust the process. All the best!!!
Thank you for posting a kind and supportive comment. It’s staggering to see how many people come to the comments to bash people who are struggling and/or people who made mistakes or not the best choices. 🙂
Please y’all, don’t get ministry degrees if you can’t pay in cash or get scholarships/grants. You won’t earn enough in ministry to pay the student loans back effectively, and you shouldn’t get student loans anyway. There’s an abundance of available, FREE, information to learn the Bible and ministry. You can find a mentor. You can find more affordable ministry courses. You can take so many avenues without having to be buried in student loans.
Yeah, my jaw dropped when she said she paid 77k for a “ministry degree”…I know there’s significantly cheaper routes she could have taken for that. 🤦♂️
I was so excited to see this because it matched my situation exactly until she said she didn’t pay for her living expenses like rent and utilities. I don’t have the luxury of having someone to pay for my situation. Can we do someone that has low-income, large student loan debt, and pays for their own expenses.
One thing that I don't think was mentioned and is rarely mentioned even when it's a desperate situation like that is just look for support programs. If you have low wages and high debt, look for assistance where you can get it. The one time I've seen it suggested on Caleb Hammer's channel, the person was too proud. So they valued pride over their future basically.
That's why a lot of young people still live with their parents, with debt like this I definitely would stay in order to bring the debt down, it's a temporary sacrifice. There's also the help that comes from your spouse. A year after getting married, my husband and I used Dave Ramsey's debt snow ball to completely pay off both my student loans and my husband's credit card debt, and that was over 13 years ago. I am a stay at home mom now, so we are just a 1 income household, and we are on the last baby steps 🎉🎉🎉
@@GardenMinistry.being able to stay with your parent is not a sacrifice it's a privilege. Other less fortunate folks are obligated to help their parents
@@GardenMinistry.I unfortunately was put into a position where I had to buy the house I was living in or I'd be homeless. I was given 3 days notice from my dad, he had decided to take out a title loan using the house, that we needed to pay $5k in back pay or the police would be involved. It sucks paying to live in a home that has no freedom and goes way over my budget
She got two useless degrees is the problem. She does seem to be getting her stuff in order. Too bad she wasted money on those degrees. She is lucky her sister is helping her with living situation.
@@JonaaBLKWL Sorry to say, but there are useless degrees, and those are degrees whose job positions are fairly limited in the first place. Its always about supply and demand. If your degree is in something that no one cares about, then you won't be getting a job with that degree. That's not capitalism. That's economics. You are supplying skills and knowledge in a market with no demand.
George I’m laughing so hard at you mentioning the scammers! I’m so glad you did because I think some of your audience may be susceptible to those scams. Thanks for calling them out loud and clear for those that may not know.
I love this simple, clear , compassionate counseling session. As a retired CPA, I can’t help but point out that the $600 side hustle will will require 25 to 30% taxes. Keep up the good work. ❤
Yeah. I hear you. But ALL income is taxable unless specifically exempt. There is no minimum and he is suggesting over $600 a month. That’s not insignificant especially over a year. I’m not saying it’s fair…
@@tyleralexander5976 it most likely isn't an actual "business" she is just doing it personally, which means it is personal income. it would be counted against her tax bracket. 25-30% may not be accurate, but it is still going to be taxed at whatever her income bracket is taxed at
Its likely going to be taxed around 10-20% given her current income tax bracket (including other taxes), or more likely than not, its not going to be reported at all.
Your mention of the spam commenters is hilarious!!! It's so funny and scary how many scam comments there are on EVERY category of finance related youtube videos.
I feel like it’s great she’s able to do this but this is completely unrealistic for most peoples situations when it comes to living expenses. I’d love to see someone making what she’s making with rent and or a mortgage still paying off debt.
Everyone’s situation is different, there is never a one size fits all budget. Some people have two incomes, some live in a high cost of living area, some have kids or medical issues. But when you look at each situation I’m sure you can find a solution for yourself
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@DIANNE-g However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
I have “I quit!” arguments with Dave Ramsey from your perspective when I shower on an almost daily basis. Please relieve me from this stress and leave his show. You deserve it, George.
Damn I have 27k in student loan debt and fell like crap. Couldn’t imagine 77k. I’ll be able to tackle my student loans after I finish my car note in the next couple months.
Thank you Alicia and George!!!! George I want to see Alicia on the Ramsey show shouting at the top of her lungs!!!! "I'M DEBT FREE THANKS TO GEORGE"!!!!!!!!!
I had $67k in debt making $16 an hour. 3.5 years later, Im now 2 months from being debt free!!! The key to how I did it? Put my fluffing head down to take classes outside of work to change careers to now where im making $28 an hour, live frugally by not overspending on the major life expenses like apartment/car/eating out, and there you have it Its possible, people. Just accept the position you're in (THAT YOU PUT YOURSELF IN most likely), put your big boy/girl pants on, and take care of your shit
She's lucky she at least has decent interest rates on those student loans, mine were far higher but worked 1,000 hours of OT and paid them off in about a year... but I only had half her amount. Props to you George for helping someone and props to Alecia for taking those crucial first steps to wealth independence!
Congrats young lady, you're off to a great start: You'll never find a better landlord than family, you've got a great work ethic, you're working in a business that attracts wealthy people to network with, and you're learning how to become financially independent. Stay focused and you'll be a baby steps millionaire.
more time should be focused on why there is $70k in student loan debt and why isn’t her income reflecting all that education? the real hero is the sister here, she’s the one basically helping to pay down the debt by forgiving housing expenses, that’s the sacrifice here. I’m glad she has a good attitude and she is getting support now but hopefully she will be smarter about future decisions.
Talk to all the baristas at starbucks. Spending $70k for a feminist dance theory degree, minoring in coloring book scribble interpretation. Then want to act shocked that there's no job listings for people with their degree.
Am I correct in my understanding that he never told her to close her credit card account, but to simply cut up the card so that she may not use it until she was in a better place - more responsible after having paid off the balance? For a credit score, your oldest card weighs in the balance, no?
My problem is not the budgeting but the income. I can cut out expenses down to the bare minimum (I don’t have a car payment, student loans, a credit card, or streaming services) but I still can’t afford basic necessities like mortgage, groceries, gas, utilities, and especially medical needs because everything is so dang expensive. Been trying to get a higher-paying job for four years with no luck. I have a college degree and I work full time, but I cannot seem to secure a better job. What’s the secret to that?
I know a lot of people like to make themselves feel smart by petty disputes with the snowball method but the beauty of it is that as the snowball gets bigger the debt amount and the number of debts gets smaller. You see the light at the end of the tunnel get a little brighter every month. The snowball rewards and encourages both at the same time. I can say from my own life experience that there has to be an intentional decision that leads to a commitment to see this through. Our 2018-2022 snowball that put us in a debt free lifestyle and saving for the future was our third debt free journey. Yes, we went from consumer debt to no consumer debt and right back in twice before we made the commitment to get out of debt and stay out of debt. There is a certain beauty in simplicity and that is what the snowball is...simple. Proverbs 22:7
Dudeeee I went to high school with you 😂 Dedham high school?! Small fucking world my bestie had the biggest crush on you m. Glad to see you kicking ass ❤
Great format George! Loved how your guest had all the numbers and did not spent half of the video looking for them. Also you gave on point advice on how to improve her situation. Fingers crossed for her ❤ Please keep them coming.
“Mom, can we watch financial audit with Caleb hammer?” We have financial audit at home! The financial audit at home: Haha but truthfully, I am happy that you are doing this! I know you respect Caleb and I think the more people out their trying to assist others with their finances, the better
I’d love if you or Rachel could talk about budgeting for increased expenses with a new baby. I’m due in 3 months and very budget oriented but it’s hard to plan for something I haven’t experienced before. Since you have a newborn maybe you could share more, thanks!
The only "line item" I'd recommend adding would be either "fun money" or "Misc." Every pay-period or week (I like weekly on Fridays) go get $20 cash from a fee-free ATM or your bank. I like it as a buffer for when I say "I need toothpaste" or "I really like this t-shirt." That $20 bill in my wallet is my "free" money that helps keep my emergency fund full so when I need toothpaste I can't say "I'll just grab a few more things because I'm here." You got this Alecia, sounds like you've been doing really well at this, keep it up!
This is the true Financial Audit we need, someone calm and collective who's optimistic like Graham Stephan and not pessimistic like Caleb Hammer (who also exploits by enticing others to buy a $300 course). This year after watching some Caleb Hammer but more of Graham and George, I paid off my $8k credit card debt and now Im just down to my car loan of $31k which is definitely within my budget. I'm proud to say as a 26 year old that these people are truly gods people, after credit card was paid my credit went up to 807, I currently make a little over 6 figures and I only have one debt now. With less debt I was able to open a high yield savings account on top of my current savings account too. It's possible just some sacrifices will need to be made.
Alicia don't give up on yourself and your sister and most of all George!!!!!! You can do this!!! You have a very supported system in place!!!! work it!!!!!!!
The concept of credit cards for "emergencies" needs to go, my parents taught me that nonsense too. I feel for her though, my first job after getting my masters in journalism also paid $18/hour and I owed almost that much (65K). Thankfully I now make more money than I ever thought I would working in enterprise IT, loans are paid off and a modest mortgage. She can make it work too, just remember that this is temporary.
@@1jw298 Yes, a lot of bad money habits are handed down from parents. I made a lot of mistakes when I was younger that probably could have been avoided if I really understood what credit was and how it worked, rather than having to learn those things the hard way. But once I racked up 22k in credit card debt buying things for "emergencies" (ie, stuff that I knew full well I didn't have money in the bank to pay for and no prospects of getting it), I knew I couldn't go on like that. So I closed all those accounts, lived within my means to pay it all back, and haven't been back in debt since.
I remember canceling a card by credit one that was a $99 annual fee. And they didnt have ANY benefits. Called to cancel and they tried to argue with me for 10 minutes about keeping the card for emergencies lol
@@deirdrekiely6187 Eh, maybe not, but at the end of the day, I'm the one who paid for that choice, both literally and figuratively. Besides, I'm no spring chicken - I'm long past the point in my career where anyone is asking what my degrees are in or where I went to school. It's much more relevant for people who are half my age, for sure.
Taking student loans in USA is crazy, it would be better to learn Spanish or German and study for free in the EU. I hope Alicia reads this message and takes her dance classes online. There's a bunch of platforms especially for getting payment online and sharing info with your students uscreen, teachability. Girl u could easily make 10k a month. All the best
Thanks for sharing! I'm wondering if you could help me. I make $19 per hour, but I also have a mortgage, car payment (yes I know now it was a terrible thing to get into), also have student loans/personal loans, daycare, etc. I know that I need a second job/side hustle, but with having to pay daycare expenses and other bills, my sig. other and I have about $50 per month after paying the mortgage, car loans, utilities, grocery shopping, and daycare. We've cut out all subscription services and lowered our phone bill for 3 lines. We work opposite shifts and can't afford a sitter to be able to take on another job or side gig. I detail cars, but there isn't much business coming in and I might have a detail once every few months. Also, my job has given bonuses, so we did have an emergency fund and Christmas fund, but we had an emergency that costed over $5,000 so it took it all plus some.
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
“ Melissa Terri Swayne is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
I checked Melissa up on google out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
It’s Caleb Hammer with less yelling.
and less s*x jokes too
😂
It would be awesome to have her come back to the channel after 6 months to show progress.. that would be motivating.
Let me make sure I understand how these student loans work. She has 77k in debt, so at 5% interest that would be $320 in interest alone every month. Her minimum payment is $32, so if she only made minimum payments her loan balance would be increasing by about $288 every month?! no wonder people never get them paid off.
Well but if they pay the max they can afford the loan should get cheaper IMO!!!
@donaldlyons17 Why should the loan get cheaper? If you agreed to the terms and conditions, why should the terms change? Both parties agreed on the amount to be loaned and paid back.
You have no argument. Pay your debts.
Aw yes the female version of child support.😂
@@Dragonologisthe meant the principle goes down each month..
@@Dragonologist You right and that’s why people shouldn’t borrow money… the agreed upon terms are often one-sided in favor of the bank. But a deal is a deal.
We need a Dave Ramsey group for those of us with income under $20 hr. I have a degree in business but no one has been hiring other than call centers (& even that isn’t hiring this year)
Get a job in the government. They are the best employers in all 50 states. Try local state and federal.
Have you looked at hospitals? We have 1000s of people with the title admin assistant who make good money, with good benefits. I started at 45k/yr and i’ve more than tripled my income in less than 10 years (I took advantage of tuition discount to get my MBA) - health insurance is paid for with max out of pocket at $1,250/year. And they put 12% additional into 401k (that accoubt is over $400k without “me” contributing- i have a separate Roth IRA that i co tribute to). Note, i work for a university hospital :)
I don't have e a business degree but have my own small business and have been running businesses for people since around 2012.
Do you just have a degree? Any experience? Might need to go get some smaller business under tour belt with an owner you personally know to get your experience for a year or 2 first. Could easily ask for 20 but even if it's less just do it for a while to get what you need
I have worked at a hospital and still there, been there for over 15 years, I only make 36,000 year. Take out taxes, insurance etc. I now have a 2nd job. I do what I gotta do.
How long ago have you graduated ? Amazon has a program where they hire people that graduated within the last 2-3years as a manager starting pay 62k with about 8k in stock every year they hire anyone look it up.
Why she has Spotify AND Apple Music?
Alicia, it will be ok. It's been 3 years since we have cut our credit cards. It feels so amazing. We will never go back to consumer debt! Trust the process. All the best!!!
Yes indeed😊
Same! You can do it Alicia!!
Thank you for posting a kind and supportive comment. It’s staggering to see how many people come to the comments to bash people who are struggling and/or people who made mistakes or not the best choices. 🙂
Please y’all, don’t get ministry degrees if you can’t pay in cash or get scholarships/grants. You won’t earn enough in ministry to pay the student loans back effectively, and you shouldn’t get student loans anyway. There’s an abundance of available, FREE, information to learn the Bible and ministry. You can find a mentor. You can find more affordable ministry courses. You can take so many avenues without having to be buried in student loans.
Yeah, my jaw dropped when she said she paid 77k for a “ministry degree”…I know there’s significantly cheaper routes she could have taken for that. 🤦♂️
I was so excited to see this because it matched my situation exactly until she said she didn’t pay for her living expenses like rent and utilities. I don’t have the luxury of having someone to pay for my situation. Can we do someone that has low-income, large student loan debt, and pays for their own expenses.
One thing that I don't think was mentioned and is rarely mentioned even when it's a desperate situation like that is just look for support programs. If you have low wages and high debt, look for assistance where you can get it. The one time I've seen it suggested on Caleb Hammer's channel, the person was too proud. So they valued pride over their future basically.
That's why a lot of young people still live with their parents, with debt like this I definitely would stay in order to bring the debt down, it's a temporary sacrifice. There's also the help that comes from your spouse. A year after getting married, my husband and I used Dave Ramsey's debt snow ball to completely pay off both my student loans and my husband's credit card debt, and that was over 13 years ago. I am a stay at home mom now, so we are just a 1 income household, and we are on the last baby steps 🎉🎉🎉
@@GardenMinistry.being able to stay with your parent is not a sacrifice it's a privilege. Other less fortunate folks are obligated to help their parents
@@GardenMinistry.I unfortunately was put into a position where I had to buy the house I was living in or I'd be homeless. I was given 3 days notice from my dad, he had decided to take out a title loan using the house, that we needed to pay $5k in back pay or the police would be involved. It sucks paying to live in a home that has no freedom and goes way over my budget
77k student loan debt and making 18 an hour is crazy. falling for the broken education system
She got two useless degrees is the problem. She does seem to be getting her stuff in order. Too bad she wasted money on those degrees. She is lucky her sister is helping her with living situation.
@@gracecase998too bad? She got to party hard.
@@andrew8168 Lots of partying going on with those kids getting ministry degrees.
@@gracecase998 there's no useless degrees, capitalism is just bad at getting use out of people's skills and knowledge
@@JonaaBLKWL Sorry to say, but there are useless degrees, and those are degrees whose job positions are fairly limited in the first place. Its always about supply and demand. If your degree is in something that no one cares about, then you won't be getting a job with that degree. That's not capitalism. That's economics.
You are supplying skills and knowledge in a market with no demand.
I love how you sat down with her, and went through the whole debt, and budget on screen.
George I’m laughing so hard at you mentioning the scammers! I’m so glad you did because I think some of your audience may be susceptible to those scams. Thanks for calling them out loud and clear for those that may not know.
I love this simple, clear , compassionate counseling session. As a retired CPA, I can’t help but point out that the $600 side hustle will will require 25 to 30% taxes. Keep up the good work. ❤
Even at her income? For a cash dog sitting business? Idk man...
Yeah. I hear you. But ALL income is taxable unless specifically exempt. There is no minimum and he is suggesting over $600 a month. That’s not insignificant especially over a year. I’m not saying it’s fair…
@@tyleralexander5976 it most likely isn't an actual "business" she is just doing it personally, which means it is personal income. it would be counted against her tax bracket. 25-30% may not be accurate, but it is still going to be taxed at whatever her income bracket is taxed at
I do door dashing. If I keep track of the mileage and manage to earn $1/mile, @a deduction of 0.655/mile, your taxes are minimal or even non-existent.
Its likely going to be taxed around 10-20% given her current income tax bracket (including other taxes), or more likely than not, its not going to be reported at all.
I am so proud of her! Way to go Alecia!!!!!!! Stay the course!
George, thank you for calling out the scammer bots. You're the best!!!
More of these, please!! I'm not in debt, but struggle with budgeting.
I’m just gonna say can we get more of these! 💕 it feels relatable kinda!
Your mention of the spam commenters is hilarious!!!
It's so funny and scary how many scam comments there are on EVERY category of finance related youtube videos.
I feel like it’s great she’s able to do this but this is completely unrealistic for most peoples situations when it comes to living expenses. I’d love to see someone making what she’s making with rent and or a mortgage still paying off debt.
Thus the importance of avoiding unnecessary expenses, useless consumer debt and getting off on the right track!
Everyone’s situation is different, there is never a one size fits all budget. Some people have two incomes, some live in a high cost of living area, some have kids or medical issues. But when you look at each situation I’m sure you can find a solution for yourself
@@Olivia-2019Not all can. Please do your research thoroughly and don’t make broadstroke false assumptions.
@EmilyGloeggler7984 wow you're negative as fuck have fun with whatever you're doing.
Please do more of these! This is great and very informative!
That’s how family should be. Good job sister! Rooting for you Alicia!
Ok! This is a great way to conduct this show. Having live examples is helpful.
George, This is an amazing video. Real life issues, real life advice and follow up! Put it on the board! More! Bob
Cc and loans really give you the American dream. Interest and payments wakes you up.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@DIANNE-g However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@DIANNE-g Judith Ann peace is her name
Lookup with her name on the webpage.
@DIANNE-g You are welcome
Your channel breaks it down to relatable points. It helps that you sneak in the short clips that are so witty!
I have “I quit!” arguments with Dave Ramsey from your perspective when I shower on an almost daily basis. Please relieve me from this stress and leave his show. You deserve it, George.
Correction: you’ve EARNED it
George, you are great. You have a talent for this kind of show.
George is awesome. Ramsey not so much….🇺🇸
This video is such a cool idea you should do more of these!
We need to see more content like this. This is great!
George, I ❤ this video! This is so inspiring! I ❤that she followed up! Please have her come back to check in. I’m rooting for her! 🤩
Love the channel George, especially the street interviews where you keep a straight face at the answers.
It would be cool if you made a series of this!
Great walk through of the EveryDollar budget tool with a real person/budget. Thank you George!
Excellent idea! I love real life examples! 👍👏
You are amazing Geroge! Get those people out of debt. It's all about a system you follow and time.
Way to go girl!! 🎉🎉🎉
Shayna, you’re a good sister for keeping your sister financially accountable and of course, helping your sister out.
Damn I have 27k in student loan debt and fell like crap. Couldn’t imagine 77k. I’ll be able to tackle my student loans after I finish my car note in the next couple months.
That was awesome. So brave. It will only get an easier longer run.
I'm rooting for you girl!!
Thank you Alicia and George!!!! George I want to see Alicia on the Ramsey show shouting at the top of her lungs!!!! "I'M DEBT FREE THANKS TO GEORGE"!!!!!!!!!
Thank you Shayna! You’re an angel!
That was the biggest mistake of her life getting a ministry degree and a masters in ministry. Good lord.
I am South African so I don't even know Capital One but that shout out totally killed me😂😂😂😂
This is now my favorite Dave Ramsey series! Thanks George for making this fun yet informative! God bless you and your family
Love this! So practical!!!! Thank you! ❤
I had $67k in debt making $16 an hour. 3.5 years later, Im now 2 months from being debt free!!! The key to how I did it? Put my fluffing head down to take classes outside of work to change careers to now where im making $28 an hour, live frugally by not overspending on the major life expenses like apartment/car/eating out, and there you have it
Its possible, people. Just accept the position you're in (THAT YOU PUT YOURSELF IN most likely), put your big boy/girl pants on, and take care of your shit
Ugh I needed this!! I was doing amazing for 2/3 of the year and recently slipped. Just needed a refresh. Thank you George and Ramsey team!
I love this format George. Thank you for the details on what this debt free life looks like for people getting started.
Wow George, great job! What is the screen you have connected to your laptop.
There’s an iPad on the wall for video calling, and my laptop is separate just to look at the budget.
She's lucky she at least has decent interest rates on those student loans, mine were far higher but worked 1,000 hours of OT and paid them off in about a year... but I only had half her amount. Props to you George for helping someone and props to Alecia for taking those crucial first steps to wealth independence!
That's mad! my ministry course is just under £6000 A YEAR and for accommodation.
An awesome video!! So specifically helpful. Have to share with my son. 😊Thank you!!
Love the Hammer format. Curious, Did Ramsey approve of this budget? Why do I hear him screaming at you later for suggesting something “stupid”.
This was awesome George! Really enjoyed this type of video.
loved the fake bot call out!
Congrats young lady, you're off to a great start: You'll never find a better landlord than family, you've got a great work ethic, you're working in a business that attracts wealthy people to network with, and you're learning how to become financially independent. Stay focused and you'll be a baby steps millionaire.
Great video more like this please
more time should be focused on why there is $70k in student loan debt and why isn’t her income reflecting all that education? the real hero is the sister here, she’s the one basically helping to pay down the debt by forgiving housing expenses, that’s the sacrifice here. I’m glad she has a good attitude and she is getting support now but hopefully she will be smarter about future decisions.
We’re rooting for you!!!
Why get into debt for a useless degree ? Getting a second job could easily paynoff that credit card debt
I got a useless degree and my starting salary is 82k lmao. Middle management FTW
27k debt. I’ll be able to pay it off in 1-1.5 years, and I’ll have the degree for LIFE. seems like a good deal to me
@@barexampasser .I did not say all degrees are useless.I was referring to the person' s individual case, where that degree is pretty much useless
@@jamilladiallo1321 "follow your dreams and passions....
.....Into debt and hopelessness"
Talk to all the baristas at starbucks. Spending $70k for a feminist dance theory degree, minoring in coloring book scribble interpretation. Then want to act shocked that there's no job listings for people with their degree.
George, can you do a video on safe withdrawal rates at retirement? Specifically the math behind length of retirement and different withdrawal rates?
Am I correct in my understanding that he never told her to close her credit card account, but to simply cut up the card so that she may not use it until she was in a better place - more responsible after having paid off the balance?
For a credit score, your oldest card weighs in the balance, no?
this is a great channel brother. you should do this more often
love this video!!
thanks for the video GK
My problem is not the budgeting but the income. I can cut out expenses down to the bare minimum (I don’t have a car payment, student loans, a credit card, or streaming services) but I still can’t afford basic necessities like mortgage, groceries, gas, utilities, and especially medical needs because everything is so dang expensive. Been trying to get a higher-paying job for four years with no luck. I have a college degree and I work full time, but I cannot seem to secure a better job. What’s the secret to that?
This is really helpful to understand how Every Dollar works. Thanks for bringing in a real live person with a real life paycheck to manage life with!
I know a lot of people like to make themselves feel smart by petty disputes with the snowball method but the beauty of it is that as the snowball gets bigger the debt amount and the number of debts gets smaller. You see the light at the end of the tunnel get a little brighter every month. The snowball rewards and encourages both at the same time.
I can say from my own life experience that there has to be an intentional decision that leads to a commitment to see this through. Our 2018-2022 snowball that put us in a debt free lifestyle and saving for the future was our third debt free journey. Yes, we went from consumer debt to no consumer debt and right back in twice before we made the commitment to get out of debt and stay out of debt. There is a certain beauty in simplicity and that is what the snowball is...simple.
Proverbs 22:7
Love all of your videos George but this is gold. More of this please!
George i would love your help with a budget!!
Dudeeee I went to high school with you 😂 Dedham high school?! Small fucking world my bestie had the biggest crush on you m. Glad to see you kicking ass ❤
DHS Class of ‘07 representing!! 👊🏼👊🏼
Loved this format!
Good job cutting up that card!!! So proud of you! 👏
Very very cool to see a real example of budgeting & opting for change in action :) I hope she keeps kicking butt!
Its really good to see that she is heading down the right path.
Great format George! Loved how your guest had all the numbers and did not spent half of the video looking for them. Also you gave on point advice on how to improve her situation. Fingers crossed for her ❤ Please keep them coming.
Loving the new format!
“Mom, can we watch financial audit with Caleb hammer?”
We have financial audit at home!
The financial audit at home:
Haha but truthfully, I am happy that you are doing this! I know you respect Caleb and I think the more people out their trying to assist others with their finances, the better
I’d love if you or Rachel could talk about budgeting for increased expenses with a new baby. I’m due in 3 months and very budget oriented but it’s hard to plan for something I haven’t experienced before. Since you have a newborn maybe you could share more, thanks!
The only "line item" I'd recommend adding would be either "fun money" or "Misc." Every pay-period or week (I like weekly on Fridays) go get $20 cash from a fee-free ATM or your bank. I like it as a buffer for when I say "I need toothpaste" or "I really like this t-shirt." That $20 bill in my wallet is my "free" money that helps keep my emergency fund full so when I need toothpaste I can't say "I'll just grab a few more things because I'm here." You got this Alecia, sounds like you've been doing really well at this, keep it up!
This is the true Financial Audit we need, someone calm and collective who's optimistic like Graham Stephan and not pessimistic like Caleb Hammer (who also exploits by enticing others to buy a $300 course). This year after watching some Caleb Hammer but more of Graham and George, I paid off my $8k credit card debt and now Im just down to my car loan of $31k which is definitely within my budget. I'm proud to say as a 26 year old that these people are truly gods people, after credit card was paid my credit went up to 807, I currently make a little over 6 figures and I only have one debt now. With less debt I was able to open a high yield savings account on top of my current savings account too. It's possible just some sacrifices will need to be made.
Alicia don't give up on yourself and your sister and most of all George!!!!!! You can do this!!! You have a very supported system in place!!!! work it!!!!!!!
The concept of credit cards for "emergencies" needs to go, my parents taught me that nonsense too. I feel for her though, my first job after getting my masters in journalism also paid $18/hour and I owed almost that much (65K). Thankfully I now make more money than I ever thought I would working in enterprise IT, loans are paid off and a modest mortgage. She can make it work too, just remember that this is temporary.
Discipline needs to be taught at an early age.
@@1jw298 Yes, a lot of bad money habits are handed down from parents. I made a lot of mistakes when I was younger that probably could have been avoided if I really understood what credit was and how it worked, rather than having to learn those things the hard way. But once I racked up 22k in credit card debt buying things for "emergencies" (ie, stuff that I knew full well I didn't have money in the bank to pay for and no prospects of getting it), I knew I couldn't go on like that. So I closed all those accounts, lived within my means to pay it all back, and haven't been back in debt since.
I remember canceling a card by credit one that was a $99 annual fee. And they didnt have ANY benefits.
Called to cancel and they tried to argue with me for 10 minutes about keeping the card for emergencies lol
So your expensive degree in journalism had nothing to do with your career.
@@deirdrekiely6187 Eh, maybe not, but at the end of the day, I'm the one who paid for that choice, both literally and figuratively. Besides, I'm no spring chicken - I'm long past the point in my career where anyone is asking what my degrees are in or where I went to school. It's much more relevant for people who are half my age, for sure.
I wish the every dollar app is available outside the US.. been watching you guys and would like yo have an app that actually works! I live in the UAE
She has insanely cheap insurance. I got a 2014, no accidents, no tickets, veteran status with USAA and I’m 25 and I’m paying like $225 per month.
Full coverage or just min? I’m paying $150 a month for min on a paid off 2014 nissan
Yayyy I’m so excited for this!!!! Been waiting for more one on one time with people who want to follow the Ramsey program! ❤
This was super helpful to watch! Thank you both.
I really liked this video!
great video, love to see more like this. Thanks Don
Taking student loans in USA is crazy, it would be better to learn Spanish or German and study for free in the EU. I hope Alicia reads this message and takes her dance classes online. There's a bunch of platforms especially for getting payment online and sharing info with your students uscreen, teachability. Girl u could easily make 10k a month. All the best
Best channel in the whole Ramsey brand!
Thanks for sharing!
I'm wondering if you could help me. I make $19 per hour, but I also have a mortgage, car payment (yes I know now it was a terrible thing to get into), also have student loans/personal loans, daycare, etc. I know that I need a second job/side hustle, but with having to pay daycare expenses and other bills, my sig. other and I have about $50 per month after paying the mortgage, car loans, utilities, grocery shopping, and daycare. We've cut out all subscription services and lowered our phone bill for 3 lines. We work opposite shifts and can't afford a sitter to be able to take on another job or side gig. I detail cars, but there isn't much business coming in and I might have a detail once every few months. Also, my job has given bonuses, so we did have an emergency fund and Christmas fund, but we had an emergency that costed over $5,000 so it took it all plus some.
You should do more like this 😊
I would love to see her sister on.
Oh man I love Eleanor! But I gave her my bank info and she blocked me 😢
Cool concept! Hope to see more of these.
I cut up all 4 of my cards the first week I started listening to The Ramsey Show.