I'm Losing Sleep Over Bad Decisions
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- Опубліковано 16 вер 2024
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Beans and rice.... I'm Hispanic. So even if I have money I eat beans and rice all day.. 😂 ♥ with a tortilla. 😋
LOL
Eating cheap and loving it, you're ahead of the game mate
Right?!😁
Im puertorican, so it's rice and beans with plantains 😋
And over easy eggs on top. Yumm
Dave is everyones "Dad I messed up" but for finances
At least he found Dave young.
Eureka Hope Who’s Dave Young?
Boss Mann - Steve young’s simple brother
He meant that he was lucky to have discovered the Dave Ramsey show at a young age.
For sure! I'm almost 37 and found Dave 6 months ago. Better late than never!
@@olidolly7006 is Captain obvious your father? 😂
He’s 18 and making ~50k a year. He’s way ahead of most people; me included, except I’m not in debt. He’ll be waaaaay ahead of me when he’s my age though. He’ll be fine if he keeps listening to Dave.
He makes 50k if he works 60 hr weeks and he works at amazon, soul crushing place.
gangstalishis I swear poor guy
gangstalishis better than spending that time working at McDonald’s at 18
But he works at Amazon! The Democrats tell me that billionaire company owners are greedy and run evil businesses that pays workers poverty wages!
ALCAN52 that depends. You can work until your fingers bleed, but if the pay isn't that good then it doesn't matter how many hours you're working then, you'll just continue to spin your wheels and never gain any traction. Besides who's to say social secruity will even be around by the time he is eligible to collect it....
Love how Dave has some much compassion for young people. But he lets us older adults have it!!!
Only 18. I wish I found Dave when I was 18
K Centanni me too!
I'm 29, me too! I wouldn't have gone to college!
I’m 14 and I’ve been listening to Dave for a year or 2.
I found Dave at 15 in a money class
THANK YOU
18yo with a $24k approved loan...this is why we’re heading towards the next recession
As someone with a recession proof job, I welcome it
Good thing im 18 and will never mess with debt, everyone will be in trouble during recession because they owe money but not me 😂🙏🏽 ill have a surplus
the first time I started messing with debt was at 26... and it was the worst decision I've ever made
Vinny T. I mean I’m 20 approved for a 30k loan, I make 90k a year it’ll be payed off in 4 months
AngelToxicity what do you work as
The first mistake he made was buying a Chrysler
Probably an overpriced pickup
Dodge
Jeep
😂
Honestly one of the worst cars and now the dealership doesn’t let mechanic even work on cars.
I work at a dealership. New cars are stupid and Chrysler’s are the worst.
Poor thing. He’s so stressed he can’t even breathe.
What’s up berny!
I love how he took the time with this young guy. Really trying to make sure he understands. Papa Dave !
You know it's bad when Dave is telling you to go into debt 😂😂😂
Well he isn't really, he's telling him to rearange and reduce his overall debt from 20k to 4500.
I can't believe it took me till I was about 39 years old (40 now) to learn how much people are in debt. I honestly thought most people with their Mercedes and fancy houses paid cash. I knew that loans and credit cards were a thing..but I just assumed that people with fancy things could afford it. When I got my first car when I was 18 (I inherited money from my grandma)..I was asked if I paid cash by my neighbor who knew I just inherited money. It was a brand new Honda Civic and it was new but it wasn't that expensive for new. And it confused me..I was like huh? Why would I not? I got it so.. what? I'll never forget that because to this day when I watch Dave Ramsey..I look back on that being the first day I knew that people took out loans for new cars. But I just didn't know it was so common to do it! I thought it was rare till recently! I grew up in a cash paying family for the most part. My mom has credit cards but it's all paid off every month and she does it to get cash back or whatever. My dad was definitely a you pay cash if you have it type.
The only way. Debt ruins your mind.
Cars do not reflect a persons wealth and this has been the case since the 1930's. Almost everyone buys them on finance or rents them these days!
@@stephaniemiddleton3740 I once had someone tell me "The more money you have the more you need" and it took me years to get what she meant.
Car loans are killing these people!
Which cracks me up since cars are more reliable than ever. Get a 3-4 year old Camry or Accord and drive it for 6-8 years and save the $.
@@mr.speyside5240 Cars these days are definitely not more reliable then before, Almost every manufacturer has cut corners to save cost And it shows in their product
Honestly, this is great for this kid. This will be relatively easy to clean up and he will never make this mistake again. It’s awesome that he’s found Dave at age 18. If he follows Dave’s rules, he’ll be a millionaire by 30.
The only thing I regret about saving and investing is not starting when I was 18 .... start now!!!!
TWDxKILL3R same. I wish I would have saved even $5 a week then.
I’m 14 and I’m investing $120 a week. Is that Enough for my age ?
@@grantapusdonald6105 - You will be one of the everyday millionaires that Dave Ramsey talks about if you keep it up and increase it as your income increases. Good. For. You!
@@grantapusdonald6105 that’s really good for your age, keep that up and you will be a millionaire someday
Better to make these stupid decisions at 18 with his life ahead of him instead of 58 when most of his life is behind...
cgasucks And some of us learn these lessons in our 50’s, but the secret is to learn and never go back.
@@barbararepko4824 Or some of us in our 60's.....
the great news is he's very eager to heed to dave's advice, and get goin. ur gonna be just fine
It's a shame when people get so stressed out and consumed by money. Bad finances can really make life difficult. 😏👎
I tell you what..Dave has made my life so much easier. I'm not in debt but listening to all these people makes me realize I'm not that far behind in life financially. He's changed my life in how I think for sure. he made it that if I even thought about getting a credit card I would quickly realize that was a dumb idea.
@pistachios
Dave would say... that's STUPID!
I had to pay 8k to get out of a 40k truck. Never again !
Not worth it unless that 40k truck is used for work purposes and that work is paying well. I know a guy that paid 65k on a brand new dually, but he uses that truck to haul horse trailers which is his main line of work and makes a good living doing it. so it was justified for him to spend that type of money on a truck that he uses for work purposes and spends a lot of time in.
@@RhinoXpress Yup and you get to write off the expenses on your taxes.
3200 x 12 is $38,400
*GREAT VIDEO DAVE!* It’s a great thing that he is so YOUNG and has the right MINDSET!! Get focused, get rid of the debt, and start to build wealth like crazy! 😎 he will be just fine! 😀👍🏻
In a way this young man is lucky. He's learned a valuable lesson early in life.
I'm sure this feels cataclysmic to him but he's only 18. It'll be behind him in no time.
I've never had a car loan, bought my first car at 18 with 9500 cash and still have it today 16 years later, do all my own work on it to save money, now I'm saving to buy a house, I have 21k and I probably will have to get a small loan but I hate debt it makes me anxious, maybe if I keep saving I can just pay cash, it's a long shot but I can dream.
@TurboSol - Good for you! Since you are so good repairing your car, you might want to look at a house that needs some repair to get it at a cheaper price and fix it up yourself. That's whay my parents did with most of their houses. I build one of my own with sweat equity. Sold that one 23 years later as it was too big for me after the kids were gone. I bought the next one with cash and am fixing it up as I go. You can save lots of money that way that you can then use to fix it up, paying cash as you go.
I’m right there with you buddy. I woke up three hours before my alarm yesterday trying to figure out what else I could do to speed this process up.
18 year old with a $50k income, small credit card debt and a car loan. He has plenty of time to right the ship. I wouldn't lose a wink of sleep. Just start making better decisions. 60 years to retirement. I paid off $23k wife's debt in a little over a year without stressing. It can be done.
Intelligent Investor simp
Where’s her money going? Her boyfriend?
At 18 I was watching Pokemon!
I'm 28 and still watch Pokemon haha
Im 31 and i also still watch it lol
Ash finally won guys..
Btw I am 26
Im 103 and still watch it, gang gang
Gotta catch em all so good to start young
I've been driving the same $6k car since I was 16 and I'm 25 now. I didn't even know how car loans worked at 18. I can't imagine how stressful it would be to have that much debt as a teen.
Dude you can easily cover your expenses so don’t freak out.
I’m against car loans but you’ve already taken the massive depreciation hit on a Chrysler vehicle. I would just keep it and drive it to be honest.
Your total expenses should be around 2grand and you make 3200.
Its causing fights with his girlfriend because he has no money to spend on her
never date a women that offering nothing to the table specially when your broke yourself and trying to get out of debt.
He's 18, shes just a lease.
Ooooor maybe she's more financially aware than he is, and told him he's spending money foolishly.
@@jennifertackett2241 lol good one
Exactly
He is doing well. He is 18 and at least making an effort to be an independant adult. He is making smaller mistakes and aware enough to try and make them right and learn from it. He will go far in life. At least he is not in his 40's with $100k in debt and just realizing there is an issue.
With the money he is making, he should be able to save $4500 in 3 to 4 months.
STEP 1: GET RID OF THE GIRLFRIEND 🙄 life is too short to be arguing with a b!tch you not even married too.
These responses are already all over the place.
@Benjamin Mathew shes def not that famous instagramer in the background.
You are correct about that , sister!
I'm 18 and I'm so so glad I found Dave so I can become a millionaire one day
This guy will be ok, I wish you well 🏝
I remember hearing Dave mention in another episode saying he never teaches people to borrow money.
This is the first time I heard him request someone to borrow money.
Sponge Bob
Makes sense.
Im only new to his channel and watched about 20 clips of his... majority of it was him saying that he never teaches people to borrow money.
So it was just ironic that this was the first episode I heard him say otherwise.
I’ve seen many more clips of his since I wrote this comment two months ago, so I understand where he’s coming from now.
Much better to have a smaller debt.
Cheers for responding 😊
Keep calm and and learn from those bad decisions. Then u r already on the right path
Hi Dave, I understand. I've been losing sleep over bad financial decisions too, it sucks yucky, yikes, ugh, icky and argh.Take care and thanks.
I can’t believe Dave told him to go get a loan lol 🤯
He already has a loan, this would just move it to a different loan but would clear most of his debt out
@dee xirox Exactly. Dave even has advertisements on his program for Splash Financial to get a better rate for student loan debt.
I hope to meet you one day Dave and thank you.
I lose sleep trying to decide what I want to eat for the week and forming a grocery list, I can’t imagine the stress of being in debt.
Beans and rice rice and beans don't go into a restaurant in less you work there 🤣
I'm surprised mom didn't simply gift him the car to help out. He's only 18 and working full time plus. Doesn't sound like she was on the hook for college tuition so why not take one small burden away from your child starting out? He doesn't need to be taught responsibility by adding debt to his plate. He seems ready and willing to work and open to guidance. I gifted my kids cars (used but in good condition with clear title, paid registration etc) so their first car was not an immediate debt and they could save money while in school. $800 won't kill her to forfeit; she already said no hurry. How about no worry, son, it's my gift to you?
Not giving him the car is the gift. She gave him real life, wrapped in a pretty red bow.
I was in this exact situation earlier this year. Sold the car, bought an old Camry that’s been incredibly reliable and costed next to nothing given its condition, and with my next paycheck, I’ll be completely out of the credit card debt I racked up! I even used to work at Amazon too lol. You got this bro just sell the car to a private party, man up, and put your debt as your first priority.
As a fellow car enthusiast, I know it’s hard to go against the grain and do the responsible thing, but trust me it feels great being financially stable while your friends are digging themselves deeper and deeper into debt that they won’t be able to escape just for some toys, and the “friends” you’ll lose by not having a project car weren’t really your friends to begin with.
Did Dave just recommend a credit card?! 😳
Don't take that statement out of context. This is the only context where Dave suggests any type of a loan.
Right now this kid has a $23,000 car he owes 19k on.
Instead of paying all of that debt for the car he can't afford he is better off selling the car and covering the difference with a smaller loan.
Say he spend 3k on a new car and its 5k to cover the difference of selling the car.
He has now only spent $8,000 to fix this problem rather than $19,000.
It's not Dave recommending debt. It's an easy strategy that reduces the overall amount of the debt and gets the person out of car they can't afford
@@random-nz7dy Exactly!
Worried about 25k? Oh he is 18, I see now. Really not the end of the world, but good to hear he is concerned about his finances at that age.
@Anne Day I couldn't even imagine letting it get that far. I don't know how people can live with that stress and this is coming from someone who is self employed haha. Glad this kid figured it out early.
... think about 25k in debt as $2,000 payments EVERY month for a year. That's VERY hard for a lot of people to squeeze out.
@@Brian4853 Hence why I said glad he figured it out young. He doesn't have real financial obligations yet, plenty of energy and the right attitude. He will get it done in a year or two, that is not the end of the world and as we all know it can get much worse than that. By 20 he will have a clean slate which I'm sure many would kill for.
Most debt I racked up was 2.5k when I was 22. I worked it off quickly and never got into debt again. It is terrifying that someone would 10x that by 18.
I was advised buy a 10-year-old car and drive it into the ground. Never buy new. Bank loans make me nauseous. I prefer an old car.
@France Clemence Fraudet - As a daughter of a mechanic, we did and I still do that same thing.
Affirm ( stock symbol MFRM ) business model : BUY NOW PAY LATER, it just signed to be partners with Walmart and Amazon, stock went up from $60 to 125 in 10 days, it tells you about American culture and the young generation
Did Dave say get a loan use a credit card OMG
🤣🤣🤣
At the end it is the best advice in this situation. If he waits until he has saved up the 4000 the car will be worth less and he has to pay propably more interest.
Well he did buy a Chrysler product, so it was already pretty much worthless even before he bought it. 😁
First time I've heard dave ramsay has said use a credit card, but it's right solution
It's a means to an end
Jeffy Tood he definitely did. In this circumstance I agree 100% turning a 23K loan into a 5K loan. Right move
Dave said unless she wanna come over and watch t.v.🤣😂🤣😂🤣😂
Dave is Dillan's saviour.
Get out of this situation and INVEST my friend!
5:38 Loll this Dave got no clue of the real world. Very very and very hard to get the kbb value on your car selling on Craigslist or anywhere else for that matter. On top of that, it's a 19k car. People DO NOT have 19k sitting around to just buy a car. Even if they did, they will not hand you 19k if the car is worth 19k.They will offer you 16k if you are lucky.
I used to sell cars on cl and I can't begin to tell the difficulty of selling any car over 8k. People like it but they can't afford. If they can, they'll low ball you. People only pay kbb value at the dealerships NOT private seller.
READ AND LEARN!!!
Good info. I’ll remember this if and when I get another car.
jean lenor If he takes it to a CarMax, they’ll give him a good deal. Actually, most dealerships that sell used cars can give him close to $19,000 then, like a Dave says, go to credit union to borrow the rest to pay off the note.
@@ceciliapetrowsky2572 They ll give him the trade in value or less which is less than 19k.
@@ceciliapetrowsky2572 carmax gave us a very fair price when we sold them back our challenger. We only had the car a year were offered 3k less than pay off with none of the hassle of trying to private sell.
In a pinch you can lower your insurance by storing the car. It can be cheaper to have liability on a junker park the car that has a loan for a few months it still needs coverage but sometimes it cheaper if its parked.
For those wondering why you don't surrender the car, the dealer will sell the car and if they sell it for less than the loan he gets charged it. Surrender does not kill the loan...
I really like Dave on this! He really calmed the young man down and showed him the way out. He sounded freaked out and I felt bad for him!
He is $4,500 in debt, not $23,000. Yes he borrowed $23,000 but if he has a dealership willing to buy the vehicle, he is only $4,500 flipped.
Add that negative equity of that car into a new 2020 bmw m5 and enjoy life
Doing pretty good at 18. You can figure this out. Good advice give given. Health is wealth.
Wait a second. He makes 3200 a month gross. his rent is 800 per month. where is the other 2400 a month going? sad, but he can afford the car payments. what is his payment 450 per month? This sounds more like buyers remorse than I owe too much money. Buyer's remorse he owns a Chrysler/dodge LOL
cutehumor he saw Scotty
He cant afford the car. He can only afford one payment which is a fraction of the car loan each month.
I was thinking the same thing!! Runs well too as s brain new car and if he’s on time with his payments, it will help his credit score
He doesn't make 50K at Amazon loading trucks even if he is working 60 hours a week
Courtney M. Yea i work there, no way he is making that money loading the trucks
I'm trying to figure out where this guy's 2400$ after rent is going?
Girlfriend lol
I was going to say the same thing...girlfriend!
Going out, buying stuff, utilities, car insurance , etc
jewel renae lol
Up his nose so he can run around a warehouse for 60 hours a week!
Ideally, it’s best to eliminate the debt but if that is not possible then restructure and reduce the debt. Dave is right to recommend the smaller loan.
Nobody smart is going to buy a car with no title immediately available. You'll need to get the loan for the difference first so you can get the title in hand before trying to sell it.
I'm in about 9/10 in the same situation!! Difference is don't make that have rent and I'm 20. I asked God what to do and he answered me!!!😢😭❤
Dave gave very good advice. The kid will be fine if he follows what Dave said.
He bought a nice charger. 18 year old with a sports car.
at 18 I bought a 1972 VW Bug which I ended up living in for a few months. I took the back off the passenger seat so I could lay down to sleep. Looking back, it was such a wonderful experience.
Wow, all of this information is new to me. ☺ Whoo whoop free knowledge
Get rid of the car and then drive what to work?
Karen M you buy a cheaper car and when it needs new parts you fix it instead of freaking out and you’ll save way more in the first month than you would with the new car and payments
He did say he was going to buy a car off his Mom at the start of the call.
Or get a cheap, used car that doesn’t cost thousands of dollars...
Every time I hear a caller talk about credit card debt, I’m like: why? Just why?
Why would you get yourself into buying something that you can’t cover with the money in your bank account? 🤷🏻♀️
@@sheba1307 I understand loans for medical reasons, but credit card debt... most of the time is due to consumer purchases
Because people are trying to keep up with the Jonesis. Plus emotional buying of thinking "I WANT THIS."
I want this and I'll figure it out later.
I never wanted a credit card. Was very against it for the obvious reasons.
I had to move our of my mom's house because of personal reasons (religious). Got into a relationship and put probably 1500 on a credit card for eating out and buying clothes, mostly to get out of the terrible place I was staying (abusive roommates) and spend time with the girlfriend. I had the income to pay it off, was also trying to build credit (because I was always taught that it was good). Then I got super sick and couldn't work for 4 months, so I Had to put bills on credit card, had no other choice. Ended up with about 10k in debt, by now it's all gone to collections. Recently started my life over and will be starting the baby steps.
How many comments are you going to leave on this video?? Omg
This is very old but a good one. Good luck private selling, who is going to give some random person $19K cash and hope he produces a title. As a used car buyer, buying private party, never never ever hand over cash for a car unless the seller has a clean clear title in-hand.
For someone in this kid's situation, I'd talk to Mom about moving home once the lease is up. If she's ok with it, then keep yourself afloat for now. Move home, pay everything off, and keep that car until the wheels fall off. Whether you're driving it or a used car you bought, you're still driving a used car. Its the devil you know, as long as it's not problematic. Living at home he could pay it off in a year. Stash some cash then move out and start life fresh and be on your way to a great life and good life lessons learned. He was young and figured this out, he will do well in life.
4:22
Him: 'I don't know to party anyway"
DR: "Good!"
Me: :C
if that is correct,that dude is making almost more than me and ive been working for 25 years!what is there to worry about?about 8 years ago me and my wife had two young kids and made about $55k together,had a house and 2 cars!now that was stressful but made it through..this is a big nothing burger.
How is 3200$ per month= 50k a year? Smh
Wow, amazing.
Lol the stupid tax got me a few times. Good lessons at a young age
Had to stop and rewind to hear his age again...Just WoW
Dave's a hero! Saved this guy!
Everything in this dude's life is $800. His rent, his credit card, and what he owes his mom.
I noticed that.
So the buyer is expected to give this guy $19,000 with no title...nope...not me
Too many cars available with a clean title for me to risk dealing with one with a lien.
No. The buyer goes to the title holder with the seller.
@@elibeiler1682 That makes no sense
I just finished baby step 1
Now have 3 months to get out of debt for baby step 2
Can’t wait to begin baby step 3. I’m just not sure of how much to save tho for 3 or 6 months???
What are your monthly expenses? Find that number and times it by 6 then add a couple grand for good luck. 👍🏻
Depends on your job security / job availability. Are you in a location that if you lose your job you can find one quickly? Are you on linked in getting pinged my recruiters all the time? That is a good sign that you will only need 3 months emergency fund. It varies from person to person of what they feel comfortable in have in an EF. Keep going you got this!
Erik Polderman thanks heaps for your encouragement! Interesting points I’ll have to think and plan this 🤔
jvyeknom thanks heaps sounds like a plan!
@@PlatinumPlatz 👍🏻Keep up the good work. Being debt free is awesome.
18 and already in debt
Dave suggested putting the $5000 on a credit card. I wish he was clearer that it was just an example. The interest rates on a credit card would be outrageous!
Dave!! Ramsey!!
Or go for walks in the park with your girl... TV doesn't give a lot of room for healthy conversation.
The kid is not an idiot, he mad a couple of bad choices but is not an idiot. The fact that he’s 18 and makes $50k in a year shows that he’s smart and a hard worker. Obviously the car was an idiotic decision but it was a bad choice. Also, he can afford it but why is he paying $800 in rent at 18, I maybe misheard, but is that $800 for rent going to his mom or to some body else. If it’s to his mom, I think that’s crazy, an 18 year old should not have to pay his mom that much in my opinion, if it’s to someone else, why did he move out of his parents house which in my opinion is not a good idea at 18, I get there are benefits obviously from living away from your parents but think how much money you could save if u didn’t
I'm a huge fan. Dave, you are the man. Period. Case closed. Thank you.
You are welcome, I guess.
Exactly right good advice Dave
Stay focus young man, you got this.👍
Get a CC with 15month free interest.
This is actually an excellent idea if the credit union doesn’t work out as long as he pays it off before the 15 months is up.
@dachicagoan He does promote debt in lower interst ideas
Been here, done that.
Dude. Sleep. You are 18. You have time on your side you can fix it don’t panic follow Dave’s advices
Great advice!
Mom bought a brand new v6 2007 camry. 32k out the door paid $572 for 5 yrs and has been car payment free for the past 8 years! She continued paying herself the 572 to her savings now she has 50k cash and a car that still works perfectly fine with 225k. That's why i peach TOYOTA! I hope this story inspires someone!
Avoid repo at all cost. Been there
at least there won't be any student loan debt.
Listens to Dave for a year, still has to ask how to sell a car with an upside down loan.
get a loan or pay the difference cash. the person buying the car need to know that his check plus your check is going to the bank to get the title. some people may walk away from this
Work at a restuarant where tips are nightly!! No LOANS OR C.C. C'mon Dave are you seriously saying that?
I know! Couldn't believe it either...
Who's going to hand over $19,000 without receiving the title? Also, who's going to buy a used car off the street for $19,000 when you could put that money down on a brand new, warranted car at a dealer?
Lots of people will buy a 19k car. You dont just hand over the money on the street you go to a bank and have it transferred to the bank who's owed for the car it's really not that hard
Rule #1 Never spend money you don't have.
He works hard
Amazon is the way to go people... I heard you can make up to $150000 (w/ the require credentials) for certain positions...
At 8:01, I thought he was going to ask Dave if he was interested in buying a car. That would've been funny!