I'm 29 Years Old With Nearly $1,000,000 In Debt!
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- Опубликовано: 14 окт 2024
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Ali was
I like how he almost lost it when she said she works for the government haha
Hi Mr. Ramsey. I feel like I am in the worst situation. I don't have this any debt, but I am 45 Years old, with 29k in savings, making 56k a year, but living in NYC where I can't find an apartment to live by myself, and I desperately want to. Right now, I live with my mother, who is a horrible hoarder, and overall a terrible person. I am dying emotionally, mentally, and spiritually living with her.
D Cabral if you are single you can’t try share accomodation for a while?
Stopped watching dave, 15 second commercials I can live without
Suddenly my financial situation is ok.
Same here...
Yup I’m feeling good right now haha
Ed Kennedy hahahahahaha
Right lol!!
same, but if we are factor in.... nvm
Remember, these are the people we look at and say "I wish I had their car, job, house etc". Don't envy before we know the whole story.
Because there are no rich people that are wise enough to not be in debt?
@@annonymsurfer3189 Those exist also. I'm just saying going into debt to match your neighbors apparent level of wealth is silly.
Agreed.
Yuan Gan, I don't really know what "most" people do, but it's not exactly a random sampling of people who call into a financial advice talk show for advice. "Hey Dave, I have no debt and $2 mil and I'm trying to decide whether I can buy a sandwich."
Oh I love my position over these lecture bums
The homeless guy on their corner is $1 Million Dollars richer than they are.
Debt has nothing to do with net worth... a lot of people who work in real estate have a lot of debt but they pay each month and make cash flow on that debt. It’s called leveraging. People make debt seem bad but it’s not as long as you reach the monthly minimum and if you’re paying your mortgages.
@@ItzCharlemagne did you even watch the video? 800k in non-mortgage debt. insane.
nextari Ik but I was making a point about leveraging debt I’m not disagreeing with you.
@@ItzCharlemagne Your response still was completely out of context :D
Quotenfisch it’s not out of context text.. anyone in real estate would complete understand how money really works.
Wow. This call is the example of "buy whatever I want with credit and debt and worry about it later". 1 million by 30ish? Crazy.
I did that with $10k in my early 20's and thought the world was ending. Starting at $1mil in high interest debt at 30 is pathetic though; hard to feel any sympathy at all.
Indeed
Whenever I feel poor I just watch videos like these
seth 603 me too, Wow I feel so smart...
Omg it really does make you feel better 😂
@@kidneycarecoaching3766 me too
@@ItsJustEric1 agreed
seth 603 I couldn’t say it any better
An MBA that walks around with $100k credit card debt. These are the same types of people who say anyone who doesn't have a college education is an idiot.
true... very true.
and they hate the potus,.....lol
Thank you! I was thinking the same thing. She loved saying, "We both have ADVANCED DEGREES..."
I have an MBA and don't act as they do. I also do not have any debt.
They also make our policy, which is the scariest part.
I wish they had a "Where are they now" segment.
The world may never know...
My money is on bankruptcy followed by a divorce. It requires a ton of discipline to downgrade ones lifestyle. If they obliviously accumulated 1million in debt at 29, they have a problems that transcend finance that they need to work through first. Eg therapy.
@@Omikoshi78 they still have 335k in student loans. Cant discharge those in bankruptcy....lol
@@JK20239 I just got my bankruptcy discharged and my student loan got erased
I know. I have a feeling they stuck to it for a while, but tripped and fell into an even deeper sinkhole. 2 mil.
Caller: We are bad with money
Dave: Where do you work?
Caller: For the government
*Everything now makes sense*
That’s me 😩
😂😂😂😂yup
I’m British and I totally agree with this 😂
😂
😂😂😂
Imagine having to make a million in order to become broke
lol, don't get any "smarter" than that!
More than that the interest on student loans can be worse than what you'd typically see on a home or car loan.
Thats so sad. . And i thought my 5k debt was horrific
LOL well put - that's insane.
Barney what a genius way to put it, definitely gonna steal that😂
They're negative millionaires.
J B 😂😂😂😂
🤣🤣🤣😭
They’re erianoillims!
😫😫😁
JB: No they're not: They still have their high degrees, their house, new car, jobs, and a full belly, and lots of time to pay it off in dribs and drabs. At this moment, they are N millionaires, and the N doesn't stand for negative!!
Imagine having a MBA and not even being able to get your own household finances under control.
As someone who has an MBA I agree. This is baffling.
Smf 🙄🙄🙄
Exactly my first thought
On the other hand, the contractor's house is always the worst kept on the block.
I'd move to another country. 😂
Nightmare. She is gonna stay broke
I watched this again for the second time. This was 4 years ago. I truly hope this couple made it through their marriage while getting out of all that debt. I can't even imagine starting a new marriage life with all that debt. Stressful to the Max! I hope they took your advice Dave. You were very kind to her.
If I had to bet I’d say they filed for bankruptcy. This is a HUGE lifestyle change, I kinda don’t they made it
Omgggg how do you sleep at night knowing your 1,000,000 dollars in debt at 29 years old???? I can’t breathe
Right!!? 😳😱
This is honestly one of the saddest things I have ever heard! We are a family of 5 living off $35,000. The only "debt" we have is our mortgage which we are actively working on paying off.
hahahah!
You Americans have it easy.
I’m saying that because in Australia especially Sydney/Melbourne having near $1m I’m debt just on mortgage repayments is quite normal. America real estate prices are dirt cheap.
@@candicewilson2703 find a rich guy lol
If you are 32 with an MBA and 1m in debt you should be required to disclose that to potential clients. Thats frightening.
🤣🤣🤣I agree!🤭🤭
That's why people should learn everything about a service they need themselves as much as possible. In every profession you have people setting you up for failure. I would even go as far to when you need to go to the doctor make sure you know how the body works we are told that doctors know everything. My passion is health and optimization so I didn't mind learning but there have been a few times where I had to tell the doctor that so and so was wrong and or I needed a different test. If I didn't knew better I probably would've gone back and forth between different doctors to try and find an issue wich means perhaps hundreds of dollars thrown away.
whatever "disbarred" is in the business world is more appropriate. Imagine trusting such a person to "help" you...frightening.
That's why she's desperate to not file for bankruptcy. If you're an accountant and file for bankruptcy, good luck ever finding work again.
@@dougnardecchia7701 So true. Inflated grades from nonsense "universities" that put morons in grad school to rack up hundreds of thousands of dollars in debt. So stupid. I have an "advanced degree" and have zero student loans because I got scholarships!
This couple is
Perfect for each other! Imagine if they had married somebody else and destroyed that persons life
Yes. I fully agree.
I'm very lucky I married an engineer with no debt.
😂😂😂😂
😂😂😂😂😂
How do you end up with 100k+ of credit card debt....... I pay it off every month!!!
The idea of investing a significant sum of money may be both thrilling and intimidating. There is potential for considerable wealth increase with the correct strategy. How can one take advantage of compound interest and potentially grow your retirement savings to about $1M over time?
Most Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
Mind if I ask you recommend this particular professional you use their service? Have quite a lot of portfolio growth problems.
She's Sonya Lee Mitchell. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I just found her page with her full name. Wrote her an email and scheduled a call, hopefully she responds. Thank you a lot for sharing.
Thank you so much, this is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon.
I'm 28, make $40k a year, live in a one bedroom apartment, and drive a 15 year old acura. I'm also debt free and have been investing for four years.
I'll be honest, this made me feel a lot better about my less than glamorous life.
Cory Buffaloe what did you sturdy or what is your occupation
@JJoe If you become a scientist, you won't have to worry about those problems.
Im in the same situation.
24 Years Old, 68k Salary as a Software Developer, renting a bedroom and driving my 06 Suzuki Forenza that i work on and upkeep myself with no Debt and B.S. in Computer Science.
Always lived in a Poor to Low mid-income family and i'm use to having nothing glamorous which leave rooms to save and generate a higher income with more experience as my goal.
Kudos to you.
Same! I'm 24 and have close to 50k in the bank, and just bought my first Condo. I really don't care if I drive a car that's from 2005, I don't care if I don't have the latest model of phone, I don't care if I don't have the best of the best of anything. But at least I can put my head on the pillow at night and fall right to sleep without the feeling of shame and guilt on myself from being in debt.
We’re all trying to get to $1 million for retirement. Imagine having to accumulate that much just to get back to 0.
For real. I haven't even made a million throughout all the years of me working
Amazing
I'm gonna faint
Just $1m?
You can't retire on $1M
Lesson for everyone; education is not the same as intelligence
You don’t even need to be intelligent to know their decisions were completely insane.
Amen!
Well said!
Lesson is degrees don’t mean anything
No, you have it wrong. Intelligence and managing your money are two completely separate things.
This is basically the most popular Ramsey video and caller. I would love to hear a follow up on this call. I truly hope this couple followed Dave’s advice
..or if they broke up
I only have 5 $ dollars to my name and am still richer
😯
😎
you don't make $230k per year
Money guy ironic that your name is ‘Money Guy’.
Money guy I doesn’t matter. They owe MORE that their entire yearly income
How does one survive with having $1M in debt like this? How do you sleep at night?
I was thinking the same, but if you think that it's their income on 5 years, it doesn't seem that much anymore, but they do have to cut any expenses they can and off course, change they lifestyle on the long run.
I dated a girl like this. She went into debt to attend law school at Georgetown University. And she had an expectation that she would eventually get a high-paying job as a lawyer. She assumed that her future high-paying job would be able to erase all of her student loans and her mounting credit card debt. She took the California bar exam 2-3 times and could never pass. So she never became a lawyer. She worked as a low-paying temp and secretary. And her credit card debt grew. She just compartmentalized it. She didn't think about it, because to confront reality would be too stressful. It's like obesity. When you're obese, you never want to climb onto the scale to see how much you really weigh. And when you're deep in debt, you never want to look at a bank or credit card statement. She never acknowledged how bad her situation was and that she would probably never get the high-paying career she wanted. Over the years she built up an identity as a high-powered, successful career woman. But her financial picture didn't match her identity. Cognitive dissonance.
Big Ding depressing story
@@bigding8977 I hope the girl you dated is doing ok but Did you marry her? Her life is a huge red flag?
God and they pulling in 230,000 a year together. It's crazy how money is so relative and seems to never be enough
My $20k student debt seems like a blessing now
My 30k in student loan debt sounds like a slightly worse blessing, but still a blessing.
@@yekaneast what did you major in?
@@quelquun2018 Business, like an idiot. Currently self learning to program.
Glitch Modulator ouches
@@Tttggggggg I have like 8-9 grand invested, and another 7 ish in my account (mostly savings) and I've paid off all the interest and 1000 of the principle of my student loans. I've also been raising my credit score. I'm on a good path, just need a career.
And I thought my credit card of 3,500.00 was hard to pay off.
Good luck to these young couple. Hope you two are able to come on top 🙏
Right me too😂🎉😅
Did you pay off your 3,500.00 credit card debt?
Same😫whew!
The worst part is it is... I'm living no lifestyle making decent pay and I've only paid 3200, about 1/4 of the way there.
Right? I was mad mine got up to$800
If im ever 1 million in debt.. Im faking my own death.
Mine won't be fake.
I’d have to have a trillion dollar income
Mine won't be fake either. My wife (and kids) will keep it real.
😂😂
Lol 😂
"You're not going to see the inside of a restaurant unless it's your extra job!" Yessss!! People need to hear this stuff. Brutal but so needed.
I felt that 😭
Dave had people calling/e-mailing him about how "cruel" that line was to struggling people. Folks, use your brains if you have one.
Cool name
yep ,I’ve known fools that will think nothing of squandering 200$ on designer restaurants a couple nights a week- these are the people who usually live paycheck to paycheck 😂or just pile huge amounts of money on their credit card.😂
But she can make it much faster through only fans
If I ever owed $1 million, I'm booking me a one way flight to Afghanistan and hiding in the caves with the Taliban.
The entire military base will be laughing when they hear this ^ prisoner's story!!! :)
😂😂😂😂ctfu funny man
Come to Ghana instead. You'll live in luxury till you die
😂🤣😂🤣🤣
🤣🤣🤣🤣🤣🤣🤣🤣🤣
anyone else watch these to feel better about their own finances? Really makes you appreciate having zero debt
This is the scariest show I have ever seen in my life
scariest? Really?If you are in Washington DC circle, you will know a lot of people like this.
Yes but it always makes you feel better about your own situation
This is my financial Jerry Springer
shazz286 Well put!
@@georgeross6304 agreed. DC is a fairly small city surrounded by vanilla suburban sprawl. It's small enough where there's a "keep up with the Jones'" mentality, more than you would think compared to bigger cities.
I tried living there for a year and a half early in my career and met tons of people like the couple above. Nice enough locals but I was bored out of my mind.
funny how society will see them as educated because of their degrees yet they are dumb enough to have 100k+ credit card debt
Or they have never learnt/been taught how to manage money?
@@MikeJones-vm2hn well with an MBA he definitely knows how to manage finances on a corporate level.. so it's not a knowledge problem it's a failure to transfer theoretical knowledge into a practical use
People aren’t perfect. We all make mistakes.
WorldFunCA Or his MBA could have specialised in marketing, technology management, operations? Not all MBA qualifications specialise in finance. In fact the majority don’t.
@@MikeJones-vm2hn you don't need a degree that specializes in finance to prevent going 100k in credit card debt
Something tells me she's not gonna take this advice.
@Ace Degenerate All the way here till India lol
Yup
You're right. She's not
The problem lies in the communication between them. Not many people understand how to give good advice
He was basically saying, do this and that and look at this and that and all she was doing was soaking it up. Thats just meant to fail, if you want to give advice it has to come out of the person who is taking the advice. That way the person who is advised will have a higher chance of pulling through because he really agreed with it
Yea I feel like that too
Thank you, Channing for calling in. Your debt situation gave me hope for mine 😮💨
I have $900 in credit card debt and that stresses me out...
Lol, that's nothing. 😂
tb11212 I have 200$ in credit card debt and that stresses me out
I have 2600 and I feel the same. 😓
4k in debt, about to graduate in Business administration. Il pay it off in no time
Victor Jasso esos todo mi victor
I drive a 2009 Ford Focus, I’m a millionaire, and I don’t care what others think about what I drive. The great thing is, nobody wants to steal it!
Michael Reither goals! How did you make a million? If you don’t mind me asking 😄
Omar Hendrixx I was a long haul truck driver for 33 years, I never married or had children. I never had a mortgage. I lived on the road 300 days out of the year. When I was home, I would set up my RV in a camp ground for a few days. I put 25 percent of my paycheck into a 401k and had a Charles swab account for investment service. I pay cash for everything and live within my means. I retired at age 55.
Well done, sir!
@@xGP90 what is your number ,I've always wanted to actually have a one on one talk with a millionaire
Good on you buddy
advanced degree in government policy and spending far more than they earn. How fitting.
She should run for Congress.
I hope they don't wiggle into political positions 😒
They found the right career lol!!
comment of the year 😂😂
i'm surprised he didn't say something about that irony haha
She’s got an advance degree…In policy… sooo she makes policies that impact OUR lives. And she’s a million in debt. Absolutely disgusting and infuriating.
Yep.
She doesn’t make policies unless she’s in congress.
She is a symptom of what's wrong with our government and our nation.
@@Loljjkb Baloney. There are tons of regulating agencies that write policy every day that have no elected officials running them.
Typical government employees
I only have $9 in my bank account, I never felt richer😂
😂😅
A million and 9 bucks richer than that couple
😂😂😂
Yeah, why is being rich so important to all of us? Being neutral in wealth is not such a bad way to live. If I won 1 million, I think I would give most of it way to make me feel better about myself.
once you go rich you won't go back
My dude has an MBA and $136,000 in credit card debt. Where did he get that MBA from? Clown college?
Commenter McCommentFace 😂
Comment of the year 😂😂
That’s what happens when u just don’t care now he’s married and reality is setting in. They need to follow his advice. ASAP
😂😂😂😂
clowns arent this financially irresponsible
I used to work a job where most people there were making in the 40-100k range. About half of them were financial disasters and the other half seemed to have no significant debts outside of their mortgage and were saving something for retirement. I've since moved on to a company where people I work with are making in the 150-250k range. About half of them are financial disasters and the other half seem to have no significant debts outside of a mortgage, are saving for retirement, and doing well financially.
You can make 60k a year and be comfortable financially. You can make 220k a year and be a broke idiot.
🎯
I noticed that too …high earners especially educated ones usually have big egos and, they see themselves a upper class & they avoid average suburbs(they go out and buy big houses), they hangout expensive areas(expensive restaurants and other places) , they drive big expensive cars , they send their d u m b kids to expensive schools ….I can go on and on ….@ the end of day, they put themselves in a situation where things become unreliable and unsustainable ….
It's about how much you spend, not how much you make
PREACH!!!!!
The thing is people can make more money, but often times their spending habits don't change. At one time they make $40k/yr and have $50k in car loans. Later on they make $100k and have $100k in car loans. haha. I've known of so many people that make very good money and are one small issue away from cracking.
This is the reality of many Americans. They overspend, live outside their means.
We have been following his plan for over 15 years. Never looked back. Thanks Dave.
$335,000 in "advanced" degrees IN POLICY!
Some university president is laughing her way to the bank!
She can make a lot of Money if She is smart ppl.that work for lobbying Companies make millions even fund raising for campaigns
I mean, she's making 100k a year. That degree is paying for itself but they didn't plan on paying their debt first before living a life of luxury. You could live on 60k comfortably and use the other 40k to put towards student loans for five or six years. Then increase your yearly allowance to 80k a year and continue with paying other debts with 20k and whatever you've earned on top with raises throughout.
Really? Isn't the America in debt for trillions.
@@InvntdXNEWROMAN You have no clue how taxes work. Your "math" assumes she's taking every penny of that 100k home. Newsflash, buddy, she lives in Washington D.C, the "state" and fed tax combined with her marital status putS her at about a 22% tax rate, which means she's barely taking home 80k from that 100k. That doesn't even take into account her ridiculous lifestyle, she and her husband are doomed.
@@Sir_Pumpington_Of_Dumpenshire news flash buddy, we don't know if she was referring to net or gross annual income. I don't know about you, but when I'm taking to someone about how to get my finances in order, I don't refer to my gross income. I tell them my net.
It feels so good to have started out at a community college, worked a job through college, and never taken out any debt. The degree feels like I own it, instead of it owning me.
Yesssssss!!
I did the same! Everyone made fun of me for choosing community college first to save money!
Same. I went to a small university but I got financial aid so I didn't have to pay anything.
@@CrescentDream, who made fun of you for going Juco? You need new acquaintances!
Well said.
Recently paid off my 150k student loan! Took me about 8 years, feels so great!
Frank Lee how much do you make?
That's awesome. Congrats!
Congratulations! How much was it?
Nevermind, just reread it :)
Congrats!!!
Remember when we used to watch Hoarders, and afterward we looked around our house and thought. HEY, this place isn't so bad. Yeah, this call is kinda like that.
Look on the bright side, with $136,000 in credit card debt, this couple is making a killing in Reward Points!!
Would be nice to cash out the points for cash back and use it to pay down the CC debt but u know they did not. My bet is the couple used the cash back from the credit card points to go on a nice vacation.
🤣😂
They can fly anywhere!
😂🤣 good one
Just look through the rewards catalog. You can get things like a camping flashlight, a $10 Starbucks gift card etc... the options are endless
She's pretty calm & cheerful for someone who's 1 million in the hole.
She has no idea how serious her problem is, when her looks fade as she ages and she has this mountain of debt, and possibly have kids in the mix she's going to be smacked with a huge dose of reality.
She doesn't realize how bad it is
it's called total denial, her personality reeks of it, it's the only way to get into this situation.
Probably all the Adderall she popped before the phone call
She has a simp.
Finance degrees and $1,000,000 of debt. Anyone else see the irony?
NultyMusic pretty stupid I’d say but fits right in to working with the government
2:15 Face palm
So they got a finance degree for what? Not to apply it to real life finances, obviously. Lol
She said “advanced” degrees.
@@thegirlwhoatepearls that makes it worth the money
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
I'm new at this, please how can I reach her?
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
So many folks pretending to be something that they are not.
I agree w you😬😕😏
Keeping up with the Joneses.
DAVID FRANKLIN that’s deep
and so many businesses profit on this
The truth
“You’re not going to see the inside of a restaurant unless you’re working in it!”
Hahaha perfect!!
Hey if you guys want to make extra cash contact:(571) 570-6293 now!!
It's been more than 2 years now. It'd be cool if Dave and his crew could find a way to catch up with these people to see how they are doing now.
Yeah… I just put a comment to that effect… would be interesting to see what stuff they’re are made of (the couple)
@@arahd if they haven't gotten better it would be better off then not disclosing anything
@Joshua Johnsonsadly at that level of debt pretty sure divorce is a viable strategy.
Prayerfully, this couple knocked it out of the ballpark. I'd love to know. 👍
@Joshua Johnson ...or they went to FPU that evening, got on the same page, and are looking forward to their debt-free scream!
These are very valuable info for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.
true, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from 275k to approx. 850k so far.
Mind if I ask you to recommend how to reach this particular coach you using their service? Seems you've figured it all out unlike the rest of us.
Cant reveal much info, KATHRYN ALETHE HALL is the shrewd advisor responsible for my portfolio success, it's only right you look her up and confirm yourself.
I just checked her out and I have sent her an email. I hope she gets back to me soon.
Where they are now update:
"We are now 2 million dollars in debt."
Big Foot Their credit score has to be destroyed already, if they are using a debt relief agency, those kill your credit.
😂😂😂
😂😂😂🤣😂😂😂🤣😂 this comment is too funny.
@Big Foot Don't forget to add in a baby to all that debt.
@@consumerdebtchitchat it just gets worse not saying its a bad thing... they should not be conceiving... they need to dedicate to that debt
And these are the type of people who will decide how to spend public money.
My thought exactly
Yup
That is why they are working for the government. The government does not know how to save and cut spending.
Yeah I studied economics and government vs private spending are two different things one cares about the return x investment the other doesn't care at all. Usually when the government spends more money in projects it ups the Gdp and it makes the government look good.
Sad world
"Well he's 32" - Dave's Face is priceless.
💀😂
I laughed so hard
I rewound that part 3x. HAHAHA
😅😅😅
1:57
"You're going to have basic internet & no streaming services. You're going to be getting a library card & reading eBook loans from your library in spare time. That means no Spotify, Apple Music, Amazon Prime deliveries, etc. And you're going to be learning to coupon & cook meals, dinners, lunches. And you're gonna need a burner phone." She's 29 & that's not a detox her generation can do. Us Gen X kids had no cable & no cellphone.
“We have ADVANCED degrees Dave. Very advanced. Probably the most advanced. They’re very very advanced degrees, Dave.”
Hope those "advanced" degrees burn well when they're living on the streets 🤣🤣
😂😂😂
Daniel so bitter 🙄 spread positivity not negativity
@@YPM498 I'm assuming you have an "advanced" degree as well
Daniel I’m getting an advanced degree they help a lot but the main problem is they can’t manage money. So what I did was go to community college for my 2 years got my basics out of the way only payed 2k or less a semester then I transferred to a university to get my Bachelors in Petroleum Engineering I am going to be a junior next semester and I decided not to go to the big “D1” University because they’re expensive so I went to a branch of the same school and doing it there for a lot cheaper. In the end I will have the same degree as someone else I just got it a lot cheaper. I’ve payed all my college so far and my degree will be very rewarding starting salaries usually run from 90k-100k+. It’s all about having a plan
She hung up and immediately called a Bankruptcy Attorney.
There is no chance that she is going to do what needs to be done. No chance.
The easy way will not help. It's changing their mindset.
They still have the 330k in student loans. Not bankruptable
Agreed. Since that’s her “ first baby”. She most likely called Dave, because her husband mention letting things go, and she didn’t agree. You will listen to Dave, but not your husband. A women in debt, tells me everything I need to know about her decision making skills. Don’t save her, she don’t want to be saved!!
@@jgyrwa I don't like that I like this comment, but it speaks to me, because I've been living through this exact nightmare. LPT: Don't let your spouse or significant other torpedo your credit score. Sometimes, seemingly normal people never learned financial responsibility and feel a weird compulsion to buy way more things than they can afford. Fine when it's just you ruining your own finances, but add a SO, and a kid or two, and it becomes a real disaster, and even worse divorce. IDK why people have to just buy shit they can't afford on purpose. Insane.
I agree with your comment in regards to how the plan Mr. Ramsey laid out in this video will most likely not be followed by this woman and her husband. But as far as I know, unless it's been changed recently, you cannot default on government-funded student loans. So their largest obstacle, the $335,000, which is an insane number for a couple who ended up with government jobs, is unable to be defaulted on.
The student loans are one thing, but in my opinion, what really proves your comment right is the six-figure credit card debt because that shows a total lack of self-control. What could they have been spending that money on?
And I'm sure their wedding was super expensive 🤦🏾🤦🏾
A J that’s exactly what I was thinking!
Thought the same thing!
50grand prob ez
@kirkleen95 yes! Good point
Wait till the divorce!
Hats off to these people for actually calling in
I'm 29 and I couldn't imagine myself screwing my life up that badly.
And she works for the government.....in "Policy". These are the people at the wheel.
$136,000 just on credit cards? Oh.....My......God.
A 25% effective tax rate on annual gross income is effectively equivalent to paying a 33% interest rate (APR) on annual net income. I have credit cards that charge significantly less interest than that, in fact I have never seen a credit card with a higher APR than 30%, not to mention I get better perks with them than I do from the government. I can also pay the minimum monthly payment each month and still keep my credit utilization low all while keeping my scores high. I can live better off credit cards and pay less in interest and fees to the banks than if I were working for earned income and paying taxes to the government.
To all you savers out there: If you're effectively taxed at 25%, you're paying 33% in interest for every dollar you save throughout a given tax year, plus the annual compounded rate of inflation of 2% to 3%. In other words, you're paying 35% to 36% a year in interest for every dollar you try to save, and that's underestimating it for a lot of people. I'd rather take out a loan or live off my credit cards and credit lines, because it's a lot smarter and I'll pay less interest, fees, to the banks and get better perks for it versus working hard and paying taxes to the government.
And for those of you saving into a 401k to offset paying taxes now on it, all you've done is defer the taxation into the future and if you withdraw early you get penalized with it by a tax, which is effectively the state charging you interest to withdraw savings. This just further proves the desperation and hopelessness involved with being an employee.
They are nuts. Just dumb as a box of rocks. I never ever charge more than I can afford to pay for cash. I use my credit card for the perks, pay it off in full every month.
Rich Gold They should sell the house then file chapter 7 bankruptcy the pay of their student loans
Yeah, I don't know how that happens just on cards.
Yea sounds crazy
Yup these are the people working in our government. Sounds about right
Exactly what i was thinking.
Don't worry. I'm sure they spend our money much more responsibly then they do their own.
numbers mean nothing to people like this
@@Benjicmm That was so depressing i wish i didn't read it
Explains a lot doesn't it.
They should’ve got an “aDvAnCEd DeGReE” in common sense. 😂 🤦
Suddenly my debt doesn’t feel so bad. Yikes
LTJuni0r no kidding.I thought some of my co-pay debt was bad.Jeez.They need to live off Ramen,& popcorn.
@Jose Haro is right. I owe close to 6000 and it feels awful. I stopped carrying my debit cards and only use it for rent and food.
LTJuni0r haha, right?! I feel like a financial genius!
I saw this and instantly became grateful for my debt. I can pay mine off in 3-5 years. Woooowwwww there's no coming back from this number.
For real. I thought mine was bad, coming in around 15k.
They probably paid thousands for their wedding too.
Probably. I'd have a max range of $5k-$6k in my opinion
I think the same.... i would have scrapped the entire wedding/ push it back to a later date / got married without the huge costs (few witnesses).. but sad part is, society would make everyone believe you need a fairy-tale wedding or else its not a proper marriage : (
@@Adammadawooww just go to the court. What's the point in spending thousands
@@interceptingfist5682 because it's still a wedding and worth celebrating. And I'm a faithful catholic, we don't do courthouses
Their wedding is probably the CC debt.
Hard to have any sympathy for an educated person who has run up $145,000 on credit cards; that's just gold-medal irresponsible.
100%. I can't even fathom how somebody could even get themselves into that situation in the first place. It's ridiculous
Sure, but most of us had zero help from parents and 13 years of public school in regards to finances. Plus she's in DC where people have lots of money. This is 'keeping up with the Joneses' to the extreme but I get it. Some people want that fancy lifestyle whether or not they can afford it.
they probably use they credit cars to make there car payments
@@joshualawson7604 Yes, and it is also denial. Sigmund Freud wrote about "ego defences"; these are the lies we tell ourselves to avoid having to face uncomfortable truths. People who spend recklessly on credit cards are in denial. They think it will all be ok and that they will pay off the balance when it is due or easily manage the 17% interest each month. Ostrich syndrome - bury your head in the sand and carry on!
College doesn't educate you. It only teaches you obedience and how to credential your way into a job or career. It's all just a way that business owners use to make mental short cuts when hiring someone and assuming those who went to college know something more then those that didn't.
I went to a technical community college paid for with my GI bill. And I have zero school debt and I make 120k per year.
"You're not gonna see the inside of a restaurant again unless it's your other job" 😂
Man ended her whole career 😂😂😂
😂😂😂😂😂
Yeah that was good. I miss Dave's Alpo comments 😂😂
It's one of Dave's go-to lines... Along with "all you're going to eat is beans and rice and rice and beans", "You're spending money like congress", and my favorite... "You're STUPID!"
Story of my life bro. It teaches you to appreciate your loved ones and break through the hard convos for care and understanding.
With her degree she could use that knoweldge to no end
The homeless down the street is richer than them lol.
I have 900$ in richer than them
Ha ha
Fact is they have this massive debt at what could or should be the best and most carefree time in their married lives.
Young, no children or pets (none were mentioned at least), no serious responsibilities outside of work... and absolutely NO money to enjoy life with. They have more debt than your average person will earn in a working lifetime. They basically have to become millionaires to just break even and not be broke.
That is truly tragic. They should be enjoying life with travel and freedom etc., then perhaps having children a bit later on. I don't think any of that will ever happen and it's just an empty bleak existence - this isn't "living".
Sad, but true......
Atleast IRS won't knock on homelessan
I paid off $40k in debt in two years (on a low salary) thanks to Dave. The keys were: 1. subletting when I was out of town 2. having multiple income sources (job + online income) 3. angrily/aggressively sending every penny each month to kill it. anger at the debt is important i found. good luck everyone
May I ask what type of job you had online?
@@coffeeagent1 Onlyfans. But she wore a cross around her neck, so it's ok.
I too am wondering what kind of online job is profitable to get into. If anyone knows it would be greatly appreciated!
30k full time job. But definitely doing two full time job just to lower it down quickly as possible
Good for you!!
I’m 42 and 55 K in debt. She makes me feel I’m doing pretty good lol
I'm 37 and 4k in the plus with zero debt. I thought I was doing bad, having saved up ONLY 4k in 37 years, lol.
I was too dumb for college. What a blessing.
Same. Though I eventually decided to attend and currently am at a smaller college. Thank god I didn’t get accepted to a high end over priced university.
hahahah yeah
They take everyone in. If you're writing this comment you're not that dumb. There's a college for everyone lol.
True indeed. A degree doesn't guarantee a job, it guarantee DEBT!
@@write4ever875 just pay for it and don’t take out loans.
I can’t see myself marrying someone who has an extreme amount of debt. That’s a deal breaker.
Same buddy !!!
Agreed, though I guess it depends on what kind of debt. If it's all CC debt, that means they have no self control and/or self management capabilities. Deal breaker.
If they're in debt because they chased the American dream and opened a small business and it failed, that's still admirable. Not necessarily a deal breaker.
If it's all student debt, then it depends on the amount and if they got a good paying career out of it.
you'll find out after :D
Agreed. I broke up with someone over a motorcycle once. He was already living way outside his means and I couldn't deal with it any longer. Nobody wants to be stuck to someone with a spending problem!
@E V NOT EVEN A PRENUP. It's a matter of having a partner with a healthy sensible mind. Someone with actual brains.
There's no way she's taking Dave's advice...you could hear it in her voice when she said "ok" to not going into a restaurant unless she works there...
That's what I also thought. There's no way she's giving up on going to a restaurant or driving a fancy car.
She thought she was calling for Dave to give her the money to pay her debt or what?
David Osentoski she sounds like a bigger woman too
Chris M lol what does that have to do with anything?
Sarah McElwee meaning she will continue eating in restaurants she cannot afford
I was cracking up when Dave prescribed his signature “rice and been diet” to save money 😂
I love the way Mr. Ramsey is so courteous when telling people how stupid they are. Seriously, how do people buy things without any money? Why would anyone want that kind of stress?
has an advanced degree: MBA. i was expecting a PhD in biotechnology specialized in advance genetic engineering
Fun fact! If it had been that kind of degree, odds are they wouldn’t have any debt from that degree :D (PhDs in STEM tend to be ok funded. 50/50 on MS’s)
😂
@@raccoon404x7 True
I have that.
Me too! I’m a triple boarded physician - I figured advanced degree was MD or PhD at least
"you've gotten used to spending like you're in Congress" 😂👏👏
LOL
Right after this phone call she probably went to Starbucks and then bought a new pair of shoes to ease her anxiety. I dated a girl in college who was a spender while I was a saver. We tried living together after college for a brief period. Our deal was that we would split the rent. She rarely had her half of the rent and always expected me to cover her shortage. She had the cash but preferred to spend it on going out with friends and buying new clothes. I saw the future if I decided to build a future with her. The lease ended, and I broke up with her. Never try to change people or expect them to change - it's fruitless.
purewonka Smart move!👍🏻
is going to starbucks really a big deal? Sorry but I’m not from this country so I’m very curious about that.
@@qiugezhang6847 People on a tight budget shouldn't be spending $5-$7 on a coffee every day.
I don’t think so. She sounded like she really took in what Dave was advising. I’ve heard a lot more people on the show that one could just tell that they were gonna do non of it.
Would be nice if Dave could do a follow up on them 6-12 months later
Good for you in recognizing a horrible future before it was too late.
One thing I wish they would have understood is the power of delayed gratification. It's tempting to make impulse purchases, but taking a step back, evaluating needs vs. wants, and saving up for something meaningful can lead to greater satisfaction and financial stability.
Short term pain for long time gain.
I hope we all see the hypocrisy in the callers situation: “Highly educated...advanced degrees...high income...living in Washington...$1M in debt.”
DC govt pays well wow
Just how they like em 👍
Arthur Miller people love to live above their means and keep up with the Jones’s
Hypocrisy? Irony for sure, but nothing she said would make her a hypocrite
Thats what they call the “American dream” Sir!!
Made me realize my financial situation is actually not a problem at all.
I am not a millionaire. I dont earn millions. But I have a decent job and I am thankful of my salary.
I also do not have any debt. I dont own a home. I rent an apartment. But i am happy and thankful where i live.
god bless u and all u guys
No debt, word up! Having a job is not anyone's life's goal, its your government's. Our role is to invent, to innovate new technologies so we all don't have to work so much. However, we find ourselves today ignoring invented technologies over ridiculous ancient rituals.
Living below your means is all that matters. A home is great for building equity but along with it comes maintenance and property taxes. You factor those in, especially if you're a younger person, owning a home makes 0 sense until you can afford it outright. Keep doing you dude, I'm in the same boat only 30k in student loans left, if I play my cards right and make $600 towards it each month, I'll be clean by the time I'm 30. Thinking about moving into a cheaper apartment next so I can allocate more money towards getting out of student loan debt. No credit card, bank is a block away. Life is good.
Only debt I have is my work truck. That gets paid by my business. I live very simple. This is my best year financially. I stopped spending money on unnecessary things.
I hope she and her partner survives this. Must be a nightmare!
Her voice just sounds expensive lol
😂😂😂 facts
😂😂😂
Lol well said
🤣🤣🤣
😂😂😂😂 your right
Is there any update on this couple? Really curious
Advanced degrees and careers related to finance... but close to $1M in debt... sigh
Education doesn’t make one smart!
Just because you learn something doesn't mean you'll apply it in your life. They can't claim ignorance as an excuse. This is just stupidity. They might as well go ahead and claim a BK.
Once people get the high income, they forget how to act.
Visionary Productionz no that’s just stupid people.
This isn't your ordinary debt.....this is ADVANCED debt
hehe
PHD debt 🙄
Exactly...all so they could walk around saying "I'm a PhD!", while making $50k / year.
😂😂
Touche!
I would say their debt is advanced, not their degrees.
😂 😂 😂 😂
😂😂
Clearly having a degree doesn’t make you smart.
Yeah that was a silly thing to say lol
makes u feel better right?
When you're young it can feel like taking on debt doesn't have any impact. The lack of financial education in schools doesn't help.
They bring in $230,000 together. Use one person's income to pay the bills. Use the other person's salary to pay off the debt.
Some people just buy a new $2M Bugatti from the dealership with Bitcoins.
Yes, Absolutely! You would think they would do that - right?? Thye could pay off their debt in a month - if they kept aside100k from their 230k for their debt....i would like to know what they spend their money on! It will be a good lesson for the rest of us!
Elann Suvat Or downsize.
After taxes your looking at 150k max combined. Half of that will take over 13 years to retire the debt. Not to mention starting a family and other potential unforseen expenses.
okaminess I’m sure she would have given there post tax income
I'm not entirely convinced she "gets it".
I'm sure she does I just do think she'll put in 100%
She’s seem all calm and giggling about it lol
@@Guitar157
It's a nervous laugh
She’s looking for a quick fix that’s not possible.
She said she works in Government i'm convinced it was AOC calling in
I am 60 with 300,000 and my house is paid for. I feel like a millionare after this!
You are! Congratulations!
So you should!
You're way behind. But better off than this woman, correct.
@@pryme2013 Pipedown!! As compared to whom? No.. they are not way behind In fact, way ahead of MANY.
@@paulamurphy4770 just because it may be ahead of many doesnt mean it's not behind.
It's been 4 yrs. since this call! I want an update! Are they debt free by now???
2040:
Dave I'm 5 years old with $1 million in federally backed day care loans.
J B Not sure if underrated comment or prophetically true..
I don't get it
😂
We're paying more for daycare than our mortgage... That says it all
that's adorable lol
You could save money by switching to Geico ,
lol of the day
You win
Don't take insurance advice from a lizard.
@@Frantic618 No, you're a lizard.
😂😂😂
So I'm just graduated debt free, $1500 in credit card debt though. I feel a little better about my life hearing these calls 😌😩
@david vegas
Wow! Sketch af
Don’t do it kourttney L
i love you
lololololol
@@josh021588 honestly even if I go to prision at least Id have clothes, food,and someplace to sleep
Kourttney L
Meet hacker Ghost, I will always be thankful to Dave, he introduced Ghost to me and Thanks to Ghost, he cleared my debt of $27000 within just three days and now I’m debt free. Texts Ghost and thank me later. +1 2094399973
Listening to this after 5 years. I'd love to hear an update on this woman and hope she's in a better position. 🙏🏻
I have no sympathy for this couple. Omg they work in government, they live the way government is run....
they make 250k a year, but live like they make a million. They can't even balance a checkbook!
And..making all that big money and yet still live with her parents😢
Agreed. This is the ultimate in irresponsibility.
They work for the government, exactly why our economy and our social security benefits have all gone down down the drain... thanks millennials....
@@baldyloco9068 uuhh what? Millennials didn't even put or have barely touched stuff like social security, they barely just made it into the government and general workforce. These are issues that have been boiling up since before millennials could vote. Also have to blame the generation that didn't educate them for s*** on these things.
Hey hey now, not all government workers are this financially responsible. This is a pretty extreme case. I've never heard of anything like this before. Ever. They also have to take into account the fact that it is DC and the culture here is so out of whack. You are young and in your twenties and you just get completely caught up in it. It's like no other place I've ever been. I imagine it's probably like la. The power is intoxicating. I'm not saying it's an excuse, but it does explain how people end up in these extreme situations.
Something tells me she’s not going to take his advice.
Of course not lol,she sounds like a Karen
sounds about right
@@fs5866 shes high on the congress lifestyle she ain't gonna give it up that easily
Yea... I'd like an update on this
I feel like it will take them longer than Dave's projected time frame because of their lifestyle/ mindset, but hopefully she is willing to try.
She's a policy maker... This is what's wrong with our government. Also, both have graduate degrees and are this stupid. The education system has failed us.
No. I know really smart people in the current education system who took student loans and responsibly paid them off and have great jobs. Don't blame the educational system for self-absorbed individuals.
Because the education system was created to DUMB US DOWN, it was created by the Rockefellers, who said "I don't want a nation of thinkers, i want a nation of workers" thank God that POS died a few years ago.
@@alexcordero6672. 1.5 trillion dollars in student loan debt tells you that it is the exception, not the rule to pay the debt. These mediocre people got "advanced" degrees in being dumb.
The problem isn't lack of intelligence, the problem is caring too much about what others think. People buy nice houses, cars, designer clothes, etc, to impress others. If you stop caring what anyone else thinks, it's pretty easy to buy a Honda instead of a Mercedes.
@@hominem3731 so be the exception!