$130,000 Income and Broke!
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- Опубликовано: 6 сен 2024
- $130,000 Income and Broke!
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Everyone judging this man like he isn’t trying to fix his mess , we all make mistakes he’s fixing his mess give him a break
Chris Hogan speaks in ALL CAPS
😂 Imagine him with a cold.
And Bold, underline 💯
🤣🤣
lolllllllll
No cap
Chris has the best radio voice!
Yup. Best in the world.
I like that Chris asks questions. Dave tends to assume things.
but is he wrong..?
Jesus Barajas - Sometimes! Have you ever heard any of those “my husband left me” calls?
He assumes because he knows what he is talking about 99% of the time. He has lived on this earth enough to know when to call out BS.
He’s been doing this for 25 years. He’s knows a lot
Chris HOGAN is amazing!!!
It's not how much money you make it's how much money you keep. If you make 50k and spend 20k you keep 30k a year towards your investments. If you make 100k and spend 110k you're actually building debt despite you making 2x than the first person.
50k after taxes?!?!
@Dave Blackmen Income doesnt equal wealth. Middle class folks get jobs to pay off debt( salary to pay off mortgage, car notes, student loans etc) while rich ones get assets that build them wealth( i.e rental income, bonds, index funds etc)
Living on $20k is living in a cave...
Aaron Garcia
Not really.
I live in upper middle class secure gated 2bed/2.5bath/2car 1500sqft condo and a 1200sqft beach home on Marco Island with combined total living expenses less than $20k/yr.
Zero debt will do that.
Such a simple concept to explain.. but the current American culture and marketing would lead people to believe they always need new and better. Instead of looking for ways to spend it... look for ways to save it. Do more with less and you’ll have some savings at the end of the year. Not having a financial buffer living paycheck to paycheck is very stressful and yet it’s the norm. Took me a very long time to learn to save and stop spending. Peace
"Glance back, but focus forward!" Loved that line! It's all about finding ways to increase savings rates moving forward!
Debt free on the 11th of this month! Thanks for everything, Dave!!!!!
Congratulations
Congrats man!!
I just love Chris Hogan. He’s probably my favorite Ramsey Personality aside from Dave. Such a good show.
He can look in to renting the 5th wheel on Outdoorsy. That could help to bring some income
A fifth wheel is pretty intense to rent out.
Love the info you learn in the comments. I’ll prob never use it but now can pass on if it comes up. 🙏
@OneAboveAll how do you sell it when the bank has the title and he is still around $40k upside down on it? Unless he has the full amount he is not going to get the title to be able to sell it!
That’s a good idea, worth looking into!
I was thinking maybe his family should move into it until they get caught up.
@@punknhead23 the unsecured loan is to cover the difference.
Its a discipline problem. 1. YOu need to be discipline to make more 2. Discipline to spend less 3. Discipline to Budget 4. Discipline to get out of debt.
I couldn't sell the 5th wheel and had it repo'd after my divorce, couldn't afford it. We were buying new cars and rolling in old loans all the time. So glad I am on the plan now. Expensive lesson learned.
15 years on a trailer. Man, that hurts.
It also hurts getting
@@dete503 don't knock the hustle. If he's giving sh1tty advice that's one thing..
chemper I watched two of his vids. It was pretty good. I respect his hustle. Casey Burns does good research and is impartial. At least in my opinion. Also I only went to his channel because he is everywhere. 👀. Casey just don’t become clickbait Casey!
Casey Burns, yes this guy made bad decisions, but now he learns. I hope. I hate rollover loans too. It sounds ridiculous.
Tyler, you might be able to sell it for more than you think. RVs are hot right now and inventory is incredibly low. Good luck.
I hate myself for my car issue. In 2017 I was in a car accident that wasn't my fault. Guy hit me when I was sitting at a red light and totaled my car. I went to the Honda dealership and was looking for a used car. The guy talked me into getting a new car cause it was about the same price as their good used cars. Told me it would only be $199 a month and I'd just have to refinance in 3 years. I was 24 and never bought a new car before. 3 years later I go to refinance to find out it was a lease. So I had to refinance for the full car price. So me paying for 3 years did nothing. My grandfather passed away this year and I got enough money in the will to pay it off so I did. But I'm still salty about it.
@April...write to BBB or ... best authority...do it.
(Doesn’t matter of date-of-issue.)
Should have bought a used Honda somewhere other than at a dealership.
Key phrase: talked me into
Live and learn, live and learn.
@@saulgoodman2018 no... I knew it was 20K. I thought it was for 3 years then I had to refinance for another 3 years to pay it off. I put $2500 down. When I bought a house with my ex husband we had balloon payments to where the interest changed every 5 years so I thought it was the same thing.
April lol. Ex husband. Can’t read loan terms. And bought cars you can’t afford. What else you got? $1000 iPhone? $5000 credit card debt? Welcome to America.
He didn't close them. 🤣
I agree. Too long of silence.
He was scared Chris might get mad at him.
the car salesman tried to play the same trick on me when I was shopping for a new car two years ago. One of the first questions he asked me was "how much a month you can afford?" instead "how much can you afford?", then he went on to show me all the expensive options. I didn't fall for it.
Even if someone used to be a car salesmen I still don’t want to know them.
Lol
Note to self: never buy a brand new camper
Note to self: never buy a camper
@@hepek69 I would consider an older one around 7 years that I would pay cash for. Already depreciated a ton.
Love love our 5th wheel but we had equity in our old one and only financed for 5 years, pd off this year when we started paying off all debt, which was 1 year early
Just splurged on a 1965 Holiday Rambler for a few hundred bucks and she’s appreciating! Just have to buy behind the bell curve after the depreciation has hit bottom. Now, I just have to convince my friends with their 60k campers to let us come along with our old antique! Lol
Never buy a brand new anything is the mindset I'm coming around to. Ny wife on the other hand 😂😂
Dude doesn’t even have a way to pull it anymore. Sitting costing him thousands and depreciating. Ouch. I’m sure he needed a 100k dollar camper for work.
Literally the cart before the horse.
Does it mention what job requires a 5th wheel?
Vydio some construction jobs, like pipeline welders, live out of trailers like that and travel constantly the entire year. Sometimes it’s their only living space
@@garrettmesser3977 Does the caller have this sort of job? It seems like the 5th wheel is currently sitting around depreciating.
Vydio they should have gotten into that better. If you watched the video you’d already know he didn’t specify exactly why he had it. I just offered a possible explanation, $130,000 job might enough to justify that kind of trailer if it’s your primary living & it’s going to be payed off before you go to another career . Once it’s not, then you have to get rid of it or find another way to cover the expense. Dave has covered this scenario before with traveling salesmen spending too much on a car to drive it into the ground. It’s a lesson to be better at thinking long term
The only way this will stop happening or happen less frequently, will be if personal finance becomes as second nature as other life skills.
@@jordanwilliams587 common name lol
Exactly
It has to be taught at home and school at a early age
Jordan Williams
That’s up to the individual like everything else.
Many already don’t read or do basic math just for the simple everyday things.
Another name twin 🤣
CH is a seasoned personality!
he should Airbnb the Fifth wheel to pay for it lol. that would be the smart thing to do.
The Cow Moo at 3:25 took me out!!!
😂 😂
I've seen 10 year vehicle loans....the world is crazy!
I won't buy a car unless I can pay cash! It is too easy to get sucker into buy something you can't afford. Dealers like to tell you it is only $395 or whatever per month. It looked affordable but your stuck with the payments for 5+ years...
Ouch 600.00mo on a 15 year payment.... going to be a tough one to sell... file chapter 7 and get rid of everything
And this is why, folks, I'm not worried when someone tells me if everyone had my Savers mentality, we would crash the economy.
For every one saver, there will always be about 100,000 spenders.
3:25 Chris turned into a cow for a second
YOU BETTER RENT IT OUT OR LIVE IN IT UNTIL YOU PAY THAT THING OFF . SMH
He got a 15 year loan on his trailer and I’m over here with a 48 month brand new car loan that I will pay off in 6 months instead of the 48 months I signed up for, doing so will save me so much money.
Thanks for the great content im 13 Years Old and you inspired me to create a channel on finance and entrepreneurship as a teen. Thank You so much and thanks for always giving me inspiration and knowledge to secure and fulfill my dreams as a Teenager.
Dave would have just said sell it, done. This was 9 minutes of waffle.
the guy would have to come up with 40 grand to make up the difference which he probably doesnt have. he is stuck with it
No, it was about 9 minutes of Chris getting more information about the situation in order to give the guy an informed, helpful suggestion.
Not stuck, just stopped. I'm going to need to reflect on that with some intensity.
Thank you for sharing! 🙌
He said "little F-150", that's my big boy truck! But good for him for getting credit card debt free and working out of this mess. Should definitely feel better about himself with his salary. Never to late to get on track.
Stupid tax pays the best dividends, that you learn to never do these things again
Dave is gradually leaving his own show!
He is on Vacation
87 in debt for that!!! I can’t even imagine
Sell your house and live in the trailer.
this is all too common. we have to do better with personal finance & investing
I love and enjoy this show❤️
But what does it do??
How do these people land 6 figure jobs with no common sense? I don’t get it.
His wife need to get a job...Period!!!!
If he just going to buy a bigger 5th wheel it's a waste of time.
What does it do?! Hahahaha 😂
I'll give you 30k for the 5th wheel, and 20k for the f150, trust me it's a good deal
Ya don't so of days
It doesn't matter how much money you make it's how much you can keep and invest. that's why no matter how much money someone makes they are always broke because all of a sudden they start spending up to their new income.
Exactly. Then they blame the system when in reality they just dont understand that they don't need alot of the things that they are brainwashed into thinking they need
🔥 OMG. It’s crazy that rolling over debt into a NEW loan for vehicles is just crazy.
Well said Chris
600 a month for 15 years?? Sounds like a student loan payment
$108,000 ☹️
You bought everything you saw. Easy to do because the more money you have the more you spend (use). Sell the thing and be finished with debt at least half way.
What about avoiding the rent/mortgage and living inside the trailer itself? If it is a new and expensive one I bet it is nice apartment on the interior, you still have to rent some low cost place to access utilities...
Spouse needs to get a job. Problem solved
And sell the struck. She does not need an F150 to drive around with her child.
I make half that, my wife stays at home and we still have extra money at the end of the month. The problem is his spending. If his wife worked he would probably spend that money too!
Yeah I don’t understand people that don’t work
If he sells the trailer she won’t have to.
What do you think of zero interest car loans?
I've see campers be rented out as homes for 3k a month. But I also live in California. Not sure of the demand there!
9 year auto loan? THAT'S ST00PID! with zeros......
And I went debt free on less than 1/10 of that income...
you probably didnt have 150k in debt tho. i borrowed $20 from my brother the other day, and i paid him off today. thats nothing to do a debt free scream about lol.
Yes it is a thinking problem rarely just a money problem. Good job!
"having not heard Dave" has got to be the most lamest excuse of New listeners to rack up so much debt and not even think about the consequences
Yes should be "having no common sense on my own accord."
Exactly I didn’t know about Dave Ramsey in my 20s but I knew I couldn’t spend more than I had in cash. Why isn’t this common sense?
The guy on the left is tweaking balls
Living beyond your means to the max.
He has a damn good voice
Stay within your means.
Man this guy owes every institution in town. YIKES!
$$$ does not equal brains
Better late than never - spend smart!
What % of the callers are plants by the show?
Dave, what do you say to those people who say I live for today not tomorrow or the reason why I don’t save any money because I don’t know when I am going to die. People often ask me why I want to save money for and sometimes they make fun of me.
I make half of that and still manage to put $1000 away every month after maxing out my 401k. That’s because I learned to live on rice and beans, beans and rice. With zero debt! We have 2 young kids and as soon as they are in school my wife is going back to work. Once she does that we will have significantly higher income, but I don’t want to stray too far from that rice and beans mentality.
Same here man, waiting for the kids to be in school full time. Then it's time for that gravy
can you imagine the dude on the phone seeing the title of this video hahaha
I miss Chris!!!!!
I don’t understand these guys gripes with consolidations products . They should really read up on them and the current ones . My gf was able to consolidate her 12k cc debt at 18% to a two year consolidation loan through Payoff for 5% and 0 junk fees . She’s now doing much better budgeting and is halfway through the program and is obligated to pay $500 plus a month on the loan . One more year she is debt free . If she had taken their advice , income change not withstanding she would have paid significantly more on the debt .
Obviously behavior and mindset has to change for long term success but there are great consolidation products out there that hold you accountable for success .
I guess they want to keep things as simple as possible. Once you start making it subjective to the situation, making exceptions, your followers might use it to rationalize their incorrect decisions.
In other words, its much easier to create rule such as "Don't consolidate the loans" rather than "Try not to consolidate loans unless you get really good deal and you are sure that you don't take this as opportunity to get into more debt"
Saurabh Rangnekar I def get that and can appreciate it . But they kind of ridicule the products as if they are all bad . Every person has a unique situation , you can’t just compartmentalise them in one box just to fit a narrative .
I agree, consolidation is excellent. But I understand why Dave says no. Too many people end up in double the debt because they rack the cc back up. Plus its part of his whole thing to promote the snowball to change peoples mentality.
But it is why I never followed his methods and did barefoot investor and the budget mom instead plus do my own research. There is so much more out there that makes sense than what one person preaches.
Idk what to do in this situation
Expensive shipping container
This has been a common theme with DR show and it’s annoying to people like me who wishes I had that income...
I work at domino’s pizza 🍕 delivery 🚚 . With an MBA can’t get a job in this economy
Common theme of making 100k and spending 300k? Dont wish for that high income cause statistics say you spend more....
Same 🤣
Joshua Well, I certainly don’t want to stay where I’m at income wise....
Dam Papi Chris I cannot concentrate on finance with you there😍🥰❤💖
15 yr loan on a car... lol
I own a RV I paid cash for. I think if possible, could he sell his house, pay off the RV debt, live in the RV, until he saves up enough for a down payment on a 15 year mortgage. I love living in my RV. There’s a way out of debt, with sacrifice, God, and Dave Ramsey’s team!
3:00 *"a little F150 for the wife and kid..."*
Only in America is a F150 a "little" family vehicle o.O
You can literally rent a nice fifth wheel for $150 a night..
Chris is the best!!
I would file chapter 7, get rid of the trailer, leased car, and the personal loan. Stress over. From the way he's speaking I can tell he's a business owner and does not show 130k in income.
Yes that would be the best way out
I hate the idea of people making unrealistic and irresponsible financial decisions and then being able to wipe them clean and start new. Stupid crazy. Take responsibility! The system enables people to just do it again. Know someone who made bad decision after bad decision alienated friends and family and filed bankruptcy 3 times. Retired in early 50s and is now broke and looking for a job in mid 60's.
$23,000 and broke here... 😳
NINE YEAR LOAN on a car oh god. If i got back 9 years i lose all income and end up being 14. I cannot believe people will sign up for a Nine year loan on a vehicle.
Trailer trashed. Keep that thing and move into it. Live down by the river. Become a motivational speaker.
Nice vid
I am not from US and I don't know your terminology about salary, when you say I make $50-60k, does it mean before taxes or after taxes?
Before
Dave always says take out a loan for the difference...why is this any different?
@Sponge Bob That makes sense! Thanks
I’m sick to my stomach listening to this, not because of the callers mistake he’s fixing this, the reality of the situation.
You know what the really really funny thing is that he knows all the terminology and all the nicknames that Dave uses but yet he has all that stuff hahaha it's like he was listening and doing the opposite of everything they was saying all these years what an idiot
This is one of the worst stupid purchases I ever heard!
Say it with me, currency debasement, they are slowly and quietly devaluing the USD and everything is getting more expensive. 6 figure income is nothing now. That's the new middle class.
is that shaquille oneil ?
He cant even pull the fifth wheel anymore.
Can he rent out the trailer to a buddy? Might recoup a little and help his feelings.
Chris should do video game voice work as a side gig. He sounds like Kratos
Can't wait for the $1.3 million income and broke.
I make 1.4 million and live paycheck to paycheck
@OneAboveAll The monthly payment on my brand new rolls royce is too high
OneAboveAll I just spoke with Kenny and he is back to working baby step one and is working an extra 20 hours a week extra at McDonald’s to chip away at the debt. In 468 months when he is debt free and has attended financial peace university multiple times he plans on calling in to tell Dave and ask permission to buy a lightly used Toyota Corolla.
Doesn't help he lives in a high cost of living area in Denver...
Higher cost of living area usually means bigger paycheck too, though not always perfectly proportional to COL.
It is expensive, but you can still be smart about your expenses
He should just sell it.
It is time to start making some tough decisions and getting out of this situation!!!
The guy makes 130k a year. He will be done with this in 12 months, and won't even need to adjust his lifestyle.
InsideOutside UpsideDown you reckon? I may have misinterpreted what he was saying but it sounded like there was a pretty consistent pattern of behavior.
Control Money or it will Control You!
You know what I could do with $130,000 a year!
No sympathy from me no excuse. I could see if he made $20000 a year like I did and lived in California.