$140,000 in Credit Card Debt!
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- Опубліковано 21 тра 2024
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I was 17 when my mom told me to pack my things. We lost our house due to my dads gambling addiction. I swore to never gamble on anything. Not even a dollar. Fast forward 25 years and I have no debt of any kind and I paid off my house 2 months ago! It’s all about the choices we make.
Your last statement is the one that nobody wants to admit to. You are 100% correct..
So happy to hear this!
Good for you!
Banks should not be able to continue to provide credit like this. A quick search would show the banks the credit has been lost to gambling.
You wouldn't give a drug addict access to drugs.
Your choices were informed by your experiences.
Some people don't want conversation, they want an audience.
This lady isn't listening to anything that they are saying.
It’s 2 minutes in and she still hasn’t stopped babbling , no wonder this guys a gambler , he wants out of that house everyday..
Got into dave ramsey but still has credit cards
@@toddprater14You can always tell when they start every response with *well..." One word for it is demurring And it is so common because humans don't want to admit fault. And then she tries to keep talking about steps she is taking as if that will solve the problem. Unfortunately, I'll bet the guy doesn't want to go back to work. They will be stuck until they finally sell some property. Hopefully they don't also get hit with a huge medical bill.
@@garybrown4753both can be true at the same time and it's not unusual. Credit cards Don't get magically paid off in one day.
This is why people need a productive hobby. Sitting around doing nothing all day you get in trouble
Not everyone should retire.
"Idle hands do the devil's work" there something too all those old sayings...
@@jeiguehgwhat about monks meditating ?
😂@@adrianv5642
People were put on this earth to be productive. Retired or not, you can't escape that. Casinos? Don't even get me started.
He doesn’t need hobbies, he needs to get a job.
"He got some hobbies." And, how much did he put on the credit card to pay for these new hobbies? I can hear this woman saying that they needed to buy a $50k boat so that hubby could go fishing so they could save money on groceries.
It does not seem like she’s listening. Not sure why she called.
My goodness, people can ramble. That's why Dave is still the best, he makes them get to the point
A lot of people just call in to vent not seek advice.
Delaney will rambl and babble right along with them.
If he doesn’t work to help pay off the gambling debts, he will do it again.
Or sell the land because they seem so attached to it.
They need to form a painful callus that prevents it from ever happening again. 👍
True, plus it will take them forever to get this cleaned up when 4k a month is barely paying down the debt. They need to throw about 8k a month at it to see a difference, which they can't do because they make less than that. Goes to show that it's not how much you make, it's how much you spend. You can be in a mess no matter how much your income is.
@@JakeStewart1343😂😂😂
100%
@@vickieclark5931Sooner or later they'll have to sell the property, simple as that.
John: How much is it?
Caller proceeds to tell life story
"It all started in 1972 when I was born..." 😂
It actually annoys me so much when people take 5 minutes to justify all their mistakes before getting to the point.
@@BREEZYM6015 🤣🤣🤣
no wonder her husband drinks
"This is why you should always gamble using your debit card." - Not an actual Dave Ramsey quote
At least if you use your credit card and you lose you can get a free trip of it
@@siva47931 You could go to Vegas and lose even more.
🤣
Probably sugar honey through one of the services that mask the transaction to look like gambling.
😂
Another clueless caller. Does she not realize that’s $3750 a month in interest alone?
So many people don’t realize how much $$$$ gets pissed away, the longer they’re in minimum payment hell.
@@SamWestingwhen it finally comes down to it, they will end up selling one of those properties. Or if they just struggle along and finally are too old, one of their kids will do it, not sure if they have kids though or if they are responsible people themselves.
Interest only….$3750 is a lot!!
Paid off 2 cards today. One more to go.
Same here!
Woot woot good job!! 👏 👏
I killed all my credit cards a while ago!
Great job!!! You can do it!! I paid off almost $20,000 in credit card debt.
I will never understand how people can be so calm about a six figure debt.
Living The American dream 🙄
She’s an ER nurse. She’s trained to be calm in stressful situations.
@@JewelBlueIbanez That's lucky for her husband!
Huge debt is the norm for most Americans
Do you expect her to call in crying in the fetal position?
4k was my credit card debt at one time and I felt awful i couldn’t imagine
Yes, after working 40 years in the oil fields he deserves retirement, but no, he doesn’t deserve to be able to completely destroy his family’s finances after 40 years of backbreaking work. I respect this man’s ability to pick up his boots but this is awful.
Yeah, the whole point of retirement is to live at peace after working for so long, not have sleepless nights with mountains of debt that you accumulated after breaking free from the chains of work.
He needs to get a job, doesn't matter if it is fast food and work 40 hours a week with 100% of his income going towards this. That is the only way he can semi redeem himself.
Now he will need to get a job after retirement to pay back debt he took after retiring, weird situation to put oneself into.
Nobody deserves anything ever mate.
@@willleslie2745I call BS. Veterans of this great country go through hell and back and wrote blank check to Uncle Sam. They deserve all the benefits and disability compensation from their service
She sounds like a classic enabler. He commented financial infidelity and she just says he's retired and deserves to do whatever he wants??
No sir! High ho high ho it's off to Walmart you go!😂😅
Well, I think she was meaning that BEFORE she discovered the gambling debt.
Yep, sounds like she has endless excuses for him.
My dad always told me "Son, never gamble money that isn't yours. The money you earn belongs to your wife and your children."
I'll participate in a friendly wager around sports events with family or friends for $10 or whatever, but it's best to stay away.
“Son, never gamble money that isn’t yours.”
So your father didn’t want you to become a hedge fund manager?
She loves to hear herself talk.
She is really downplaying the severity of those problems, and a very bad listener.
My heart sunk immediately after hearing monthly credit card is $4k a month, and a take home pay is $7.5k
Though they don't have a mortgage or car payments. But yes, likely not doable without selling something or bringing in more income.
She mentioned they have no other debt which means they can live off the rest but still for more than half of your take home pay to go towards new debt during your retirement is pretty wild
@@dudeorduuude5211 Yeah, but it is still going to take them a long time to get that paid off. Especially with 30% interest. If 4K is their monthly minimum, then they will be living on beans and rice for years to throw enough at the credit cards to make the balances go down. Hopefully, they stay healthy long enough to get this mess cleaned up. It's one thing to be in this mess in your 20s or 30s, but when you are already retired or about ready to retire, the clock is ticking a lot louder for you to hurry and get this taken care of before you can't work anymore.
These people are unreal. If these numbskulls can't live off of 3.5k a month, they've got some real entitlement problems.
They have millions in assets. Lmfao
He couldn’t just take up gardening like everyone else? What a mess
This is like hearing my mom tell a story with no time constraints.
😁😂
I ALWAYS cut mine off by saying, "long story short Mom."
Mine too , every phone calls at least a hour
Don’t retire without a purpose. It sounds great to lie around all day with nowhere to go, but it gets boring really fast. Have a purpose.
At least spend the money on some strippers or something I mean damn
@@CurieBohr when I say have a purpose, that has nothing to do with being controlled. It just means have a reason to get out of bed in the morning and not get into trouble, such as a gambling addiction.
@@doubles1545 yup.
@@CurieBohr Having purpose means being IN control yourself.
@@amireallythatgrumpy6508 exactly. You need to flip from being controlled to taking control.
I owe 140,000 dollars on my credit card
John Delony: "Are you safe?"
You don't miss! 😂😂
hahahahaha
John Balony: "Ill let my co host actually try to help you, but I just gotta ask, are you safe?"
😂
I love that about him!
Some people cannot be helped
She totally minimizes It and keeps saying how great he is and oh we have this money or that money. The dude financially ruined them
I know a 34-year old man who proclaims he isn't afraid of debt, with predictable results.
Gambling addiction is a silent monster that doesn’t get much attention and awareness. I have a friend whose husband is addicted to gambling and it’s a sad life to witness. Very very dangerous addiction.
Sell the land? 10000% disagree. When the wealth is in land the gambler can’t waste it in a slot machine. When it’s in cash the only limit is when there’s no more left. He needs to go back to work to understand how hard it is to earn $140k again - then it’ll never happen again.
Lol, they will never pay it off regardless of him working (he is not going to get a 6 fig job) because they are paying $250 to principal every month. Her financial life is ruined with so little in a nest egg and she doesn't even realize it. If the land doesn't go, they are fucked.
It's a double edged sword. The woman needs to handle the finances from here on out, I don't think that will happen.
There's 2 solutions here. The first is the guy goes and gets a job and cleans up his mess. This will take longer and the interest will keep killing them.
The second is they sell one of the many small acres of land they have and stop giving half their income to credit card companies. Each solution comes with a pitfall.
Im a 60 year old barista!!😂 when i retire, ill kick down to part time. Trust me, i run circles around them youngins! Sounds like she's close to conroe, woodlands, willlis area, which is a great area to be holding land. Yeah, sell the land as well as separate any credit cards so she is not stuck with her husbands debt upon his demise.
"I have a million dollars in land, a paid off house and a 7500 monthly income. I'm 140k in debt"
"Get a job at Starbucks"
haha wth?!
Gambling is the most destructive addiction you can have.
It doesn’t just hurt you or your family but also random people as well.
I would think drug is top, then alcohol. Gambling might be down the list.
@@LittleMopeHead bankruptcies, business failures, theft etc
@@rayhill5767 All of those can be caused by drugs/alcohol too. I don't think addictions can be called the worst. They're all damaging in unique ways. Food addiction, for example, ruins your life in a different way than shooting up does.
For once I actually agree with their advice. Sell the land. It's not going to keep up with 30% interest. They'll still have the other 7 acres.
Why not refinance against the land?
@@hemmoau Refinancing is just re-arranging the deck chairs on the Titanic.
@@michaelc9287great analogy.
Yes, that would be the quickest way to knock out the debt. Too bad if they wanted to hang onto it.
No! Don't sell the land! That's a "Get Out of Jail FREE" card without him taking any personal responsibility for paying off his destruction.
"I know" is the most used expression on these videos.
Callers after they get told that they did everything the wrong way and need a complete 180 on every facet of their life - “I know”
Followed by "but.."
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helped us a lot to pay up our bills.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
she's mostly on Instagrams, using the user name
"He's gotten into other hobbies and stuff" um ma'am is one of those hobbies work cause thats what he needs to be doing to pay off his gambling debt
I was gonna say... is one of those hobbies working 90 hours a week? LOL
These kind of calls always make me feel better about my life.
"i make 300k$ a year but I'm addicted to gambling and live paycheck to paycheck".
It's actually really common for the trades. The guys that travel and hit big money jobs bringing home $3k-4k a week, working for months at a time will be leave with only their last paycheck
I know a guy that makes 300 k a year and his wife spends at all while his working (got his own company)
Yup. Sell the land. Put the remaining funds for retirement. 500k doesn’t sound like enough for this couple
They have enough assets and a paid for house. They should be ok.
Some people would rather die than sell their land (farmers) but in this case these people will be losing 30% interest at 140k principal....they need to sell the land
I don’t know how people live at peace with this much debt. 😢
It's the "American Dream". Financially illiterate people seem to have gotten very comfortable with debt, as long as their income outpaces their monthly payments
Neither husband or this wife is at peace.
This lady sure can talk. No listening though. 2:24 she answers dismissively, keeps talking, then a few seconds later it's clear she didn't even understand the question. I feel sympathy for her husband. The hosts barely got to speak.
I was thinking the same lol. She just dismissed the question with generic answer and when confronted her with it, she didn't even realize what the question was
John asked “How bad is it?” And she just said “Right” 😂
@@kendrapratt2098
Bad listeners do that. Wouldn’t want her as a nurse!
@@Barneyjo that's probably where she picked up the skill lol
Haha, maybe as a nurse you have to talk over the noise (patient and family freaking out, commotion) and get 'er done. But that doesn't always translate to other parts of life.
All I can say is “damn”
In less than the first minute, this gal basically says his “running around and gambling was understandable after 40 years working” and also he gambled because “retirement is stressful”. What an understanding wife - lets her husband gamble to blow off the stress from work, and gamble to blow off the stress from not working!
Nurses are often so used to the caregiver role that they easily excuse misbehavior.
I would encourage my husband to take up bird watching. That may do as a stress reliever. His current method of using gambling is not working.
😂
I would encourage him to take two jobs and her to work overtime! I don't know which is the most unreasonable, and I am critical care nurse. She NEEDS to be worried!
I don’t think gambling is a problem so long as you do it scaled to your income and only play with what your ok losing. But this guy was using other people’s money to gamble with interest, thats mind blowing. there’s no winning in that situation
My favorite thing is when people reveal some asset and think the host are going to be blown away.
Lady, that million dollars of land(if it's actually worth that much) doesn't solve this problem.
That guy is bitten by the bug now and can't be trusted.
You got 140k out at 30 percent. Defcon 1.
I'm thinking to put some cash in stocks, I was at Salt Shack and i overheard some friends saying its ripe enough, but Is this a good time to buy stocks? I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
Off course, but Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
A lot of folks downplay the role of advlsors 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 licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Angela Lynn Shilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
John: how much is it?
Caller: whole life story....
"How much do you owe on your credit cards?"
"$140,000"
She might as talk to herself with a mirror.
The mirror can't get a word in.
Is she his mother or his wife 🤔.. she's making excuses for him..slap on the hand.. he'll do it again!!!
Yep he made the financial mess so he gets to help fix it. He gets to go back to work. 💡
If they are sitting on over 300,000 dollars in investments why are they not paying the debt off today? It’s stupid to just let it sit around and cost more and more when you have the money to pay it off and the interest rates are insanely high. He can still go back to work to build back up your nest egg after you pay it off, but please just pay it off today and stop the “bleeding”.
She doesn't know, she's from a different generation. But she has a ton of land that she doesn't want to sell. She can be debt free tomorrow if she really wanted.
Yes....encouragement and suggestions that were provided will help this couple. I hope this is the full extent of their problems......🤔. Good luck to them and us all!
A better question: Do you view the credit report on a monthly basis? He needs to submit to that and it's worth the expense so she knows no hidden accounts are out there. Gambling isn't confined to a casino anymore. Wishing them the best!
Lady sounds like she's still in a better financial position than the vast majority of Americans.
I think it would be worth exploring why he did this or be destined to repeat.
I can’t imagine doing something like this unless something was deeply wrong inside.
Holding on to so much land at their age and having nightmares about all of this money he stupidly owes??
Not fair either way, but good thing, they have a way out. Interest will eat them up if not.
6:58 “Dig this out of your shovel”
-Wise words from Dr D. 😂
(Only teasing we all have word flubs, glad mine aren’t on air)
The corruption that runs through this administration is getting scarier. I feel sympathy for people with disabilities not getting the help they deserve. Imagine investing $1000 and receiving $4,300
How can disabled seniors generate passive income during quantitative times? I can't afford to see my savings crumble to dust.
I think Megyn Beth's strategy is the best at the moment, I recommend it for beginners because it is perfect for now and it is known.
I remember giving her my first savings $1500 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me..
How do I contact her please???????????
Exactly, Get the app installed and search her up using the name above, make sure there's no added letter or number.
She is so calm it is creeping me out. And, I don't believe that this man just started gambling after he retired. More likely that he has had this behavior for many years and had a paycheck to cover it up.
This is why you do money together
I love the justification so early on, as she knows they're about to hammer him, "living the life, as he should", 😂 nope.
That annoyed me too.
She added to the reason why many people 60 plus years old struggle financially once they retire. The worse thing is cash advances. All of those cc? You are retired and/or almost retired. Get rid of those cc!
This woman doesn’t seem to be as scared or worried as she should be.
He needs to go to the Neurologist! If this is new behavior, This is classic for some neuro issues like FTD, tumors, and a few other possibilities
Id be livid if my partner set our retirement dreams back a bunch of years. She sounds complicit in her husbands problems whether she means to be or not.
Feminine woman that's what you want but this is incompetent man want better for him
@@austintomkewitz3981wth?
Best clip with these two I’ve seen
I’m shocked John suggested working at Starbucks instead of McDonald’s 😂
I can't believe he drinks lattes
I'm just wondering which starbucks pays their baristas 50k a year.
He needs to do both!!!
@BjornUltimatum he said 50,000 in 3 years, not one year. Listen to the article again.
Never gamble ever especially if you have an addictive personality.. trust me I've learned from my own experience
I can’t even imagine… hope they go throught this alright.
Why didn't the husband call in? He would have if he were motivated to change. Why does she talk in circles instead of getting to the point.
I can't imagine sitting on $1 million dollars of assets and making minimum monthly payments on credit cards carrying 30% interest. Sell some property and get rid of the debt immediately. Besides working as a penance, he could consider volunteering as a counselor warning other people about the hazards of gambling once they reach retirement age.
I love this lady. She speaks about this problem with total respect and a good tone so what ever someone might think her husband deserves well she is not about to lose her patience.
Gambling is a scam people are stupid
Yup..I spend maybe $100 a year on "gambling". No I don't expect to win. It's fun to goof off once in a blue moon. Not everyone can do that though and it'd all or nothing
@@kylerowland1227We do scratchers at Christmas. We usually win like $20. We definitely pay more. So it’s just a silly game that we budget for and willingly part with our money.
I hate to say this, but many companies are cautious hiring people who are elderly or very close to it. I know they can't ask an interviewee how old they are, but they can tell when meeting face to face. When I get old, I won't retire from my job unless I'm very confident that I'm fully ready to do that.
You might not have a choice dude you can be laid off you know
My financial situation sucks. But I am NOT in this HORRIBLE SITUATION... I hear this situation... and it shatters my heart.
“Did your heart stop?” John needs to be less melodramatic.
Asking “Is there open revolving credit?” like there’s a murderer on the loose is a bonus too.
“Have you fully metabolized this?” As if he’s hoping she’ll say no in order for him to become the rescuer/savior. He almost sounded disappointed that she was taking it all so well and that she wasn’t an emotional wreck.
There are interviews with him where he is totally different. I have a feeling ramsey pushes everyone to be act this way.
Seriously. Idk how his wife stands him 😂
@@andysorensen1737🤣
Just listening to this video convinced me to close all but one of my credit cards.
Retirement isn't something that's deserved. It's something that's earned. You can't just say "I worked hard so I get to retire". You have to plan for it. Thank goodness their house is paid off.
“Did your heart stop?” John needs to be less melodramatic
He needs to learn to handle these calls better. She said she was invested in Ramsey and he didn’t even give her a chance to walk through her plan. Of all the personalities, I think he’s the most difficult to have a conversation with it seems.
John always inserts himself as the star of the show.
@@o0usf0oHe is the most famous/most liked personality by ALL metrics on the Ramsey team so … 🤷♀️
Hi Julie. How are you?
He isnt the financial dude obviously he is the counselling one that's why @@garethoneill9383
I’m afraid of what I’d do if my husband did this, but I’d probably be in prison or a mental health ward someplace.
I’m about sick for this woman.
At least they have assets
That they’re not going to sell which is idiotic. They could easily pay this off by selling the land.
I believe gambling is treated like a cash advance with credit cards meaning interest starts from day 1 and you get no rewards for the transactions.
The more I listen to these, the more I love being single. I just can't bother. She sure is calm, and have handled this well. Gash.
She goes “right” and keeps talking 😂😂😂
listening to this just made me feel better about my debt. WOW!
Owing $140,000 when your net worth is $1-2 million, is a completely different situation than being $140,000 in the hole.
This guy sounds like an addict and his drug is gambling.
Although their overall net worth may keep them from public assistance in the short term, a couple of nights of losing can change that very quickly.
With this kind of partner, you have to be on top of checking their credit card usage, and maybe split your joint money coz he will take everything and continue doing this.
I would be pissed off at him as a wife. Why jeopardize me and my retirement bc you can’t get your crap together at 70? Dude, you gotta see someone bc elderly depression might be kicking in or something. The depression rate in this age group is no joke.
Dr John: are your credit cards safe ?
Safe from him lolz
"Do not sell the investments".... WHAT?!?!?!
Absolutely sell some of the stocks to pay off that $140k! They are retired, with no other debt and minimal living expenses. Why in the world would you NOT sell some of the investments to pay off those massive 30% interest debts??? They are beyond retirement age, so even if they had to withdraw from the 401k (which they don't because they have 300k in other investments), they would not even be penalized!
Sell $140k out of the $380k "Nest Egg" (not the land), then get a job for the next few years replenishing that $140k. That way you don't spend several years paying an insane 30% interest, but you still get some of the "pain" of having to work for a few years to drive home the lesson.
This woman certainly seems to be taking this well
she has probably lived in codependent delulu land for a few decades now
The actual amount isn't much compared to her assets. She mentioned 130k in 401k almost 400k in investments and 1 million in land. Why should she be worried about 140k debt? She could clear it in one swoop if she wanted.
I'm so confused. Worked 40 years in the oil field along with I assume a considerable amount of time as a nurse(20+ years minimum) and they only have 130k between both of them in their 401ks? How is that possible?
They were debt free, have decent (not great) investments yet went into 140k in gambling debt. Something doesn't add up
It’s not just him. She’s spending just as much but doesn’t want to say it
This blows my mind. I’m stressing over the debt I have and it isn’t this much!
Sounds like he has a compulsive personality and needs a therapist.
How did credit card companies give them so much available credit to get in trouble with? I've made around their income and they give me, around $25 to $30 k max.
Sounds like the only route is debt settlement. I can help with that as I work at Turbo Debt and deal with these situations all the time.
That 69 year old guy is definitely going to get a job at starbucks tomorrow and have the 140k paid off with that by the time he turns 174.
🤣🤣🤣
I think they still have credit. She says she uses them to get to work.
Being a city boy, whose habitat is concrete, asphalt, steel, and glass, I don’t understand the atachment some people have to a piece of land unless they are actually farming or otherwise farming it. So I would sell those acres/hectares, whatever, in a New York minute, and make him go back to work, at least 3/4time, to make up for lost ground.
I don't think she lacks clarity or understanding about the situation. She seems to recognize and understand it fully. She just isn't panicked, traumatized, or furious about it -- and that IS completely okay. It's important to give people the space and understanding to feel those intense feelings if that's their reality -- but it's also okay, great even, if she simply takes it in stride and focuses on moving forward productively.