Love these two, especially when they are on together; they both are so compassionate and offer hope to what may feel like an impossible situation resolve.
Wife can work part time. Weekends, from home, different shifts. You can do insurance billing from home while the kids nap. Take in one more kid bringing in daycare money.
@chazzkramer7676 it's actually buying into American Consumerism and trying to keep up with the Joneses. Americans are consumer centric and the mentally that if my neighbor has one, so I want one too, is keeping them broke as a joke.
@thabsmkhize2481 I thought I was the only South African who watches this show😂I am looking at your surname. It has saved me from making so many dumb decisions, gosh😢🤞🤣
@@djpuplex no, its the cards. $500 on each of the cards doesn't sound scary, but add them together. $9500 is an ugly amount to owe at 20%+. its pretty easy to build up small amounts on each card without even thinking
We don't know that either of them are "lazy." He's been in a business with a product that customers might postpone or decline because inflation is eating up their own incomes. Whatever the reason that business dropped off, he probably should have jumped at the chance to work full-time as an employee a little sooner.
I think its absurd credit card companies will look at someone with 16 credit cards and think.... you know what that guy needs... a 17th one! That's the problem. I mean I agree applying for 17 is absurd. But issuing 17 is dumber.
I don't know how people are being approved for all these cards. I can't even get approved for a second card. I want to do a balance transfer so I can pay off my balance and pay less interest. But I can't get approved for anything . Smh
@@nypinstripes02 I have a credit score of over 800. Pay in full every month. Capital one and Amex don't approve me because I'm not a profitable customer to them everyone one else never had a problem.
I was bad with credit cards. My hi was $27k balance. I was making roughy $45k. I finally had enuf and paid it off. It was very difficult. It was so worth it. Now I have my home paid for and no debt at all. $50k in savings. I’ve done a complete 180 since first hearing Dave back in 2017. Thx
$85k in consumer debt but your wife isn’t working??? And you’re not paying them off??? I have news for you-you cannot afford her to be a stay-at-home-mom. I know she prob has zero skills, but tell her to get a job as a cashier. Wake the Hell up.
You DO realize that daycare (unless for free with a family member) is EXPENSIVE AS HELL! If she can't do better than being a cashier, then it's COUNTERPRODUCTIVE!
@@jasonrodgers9063Not really. He works first shift she works second. Or she only works part time on the weekends when he is home. I’m not saying it’s great but it’s something to get money and that’s what matters
@@jasonrodgers9063 She can get a job on the weekends when her husband isn't working. Or she can work in the evenings when he gets home from work to watch the kids.
@@analyticalchick3064 Yes this, I just had a guy do a new shower for me, and I regret it. He seemed very desperate for the work, and it's really hard to find a contractor in this area, so I gave him the job... needless to say, once said job was finished, I realized why he was desperate for work, he was not a very bright guy and his finish work was TERRIBLE, I have to do it over!! Needless to say he gave me a few business cards to pass out to friends, and I legit kept one to give to someone I don't like, and through the rest out int he trash, as I would NEVER recommend this person to anyone I care about!! It's possible this caller needs to do some self reflection, as perhaps being a contractor isn't the right fit for him!
They have to take the easy calls when Dave's not on the show. This thing is going to fall apart once he fully retires, he's the only one that has answers that feel unscripted and genuine. Jade straight up asks the same exact questions every single call, it feels like she is straight up reading a script.
I’m self-employed and make only about 50-60k per year and I have about $100,000 worth of credit in credit cards that I barely use. I currently have a very good credit score but a few years ago my credit was somewhat mediocre and I applied for an REI store credit card and they approved me for $25,000, which is an absurdly high amount for an outdoor recreation retailer.
I have over $150k in available credit (I don't know the exact amount) - They give it away like candy if you don't need it. Could I get it higher? Sure, but there's no point - That's not our goal anymore. It's all sign up bonuses (SUB) game now. When you "need" it and your utilization is worse, obviously CC companies are more stringent (And have a right to be).
It’s insane. We have three. One is the kids (it’s actually just for college costs). Total credit limit is 50k. Our income is 480k. And we have zero other debt. House was paid off 15 years ago
GREAT NWES!!started working with Christina back in April , and my financial goals have been clearer. It's like having a strategic partner for my money with a solid track record.
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
Ive noticed many of these calls involve a stay at home mom. I’m pregnant with my first and wish more than anything that I could stay home with my little one, but it’s not in the picture for us just yet. My husband and I live in CO and make over 200k a year and it still wouldn’t make sense for me to quit. So expensive here! The only debt we have is a mortgage. We are not suffering but if we lived off just my husband, it would be stressful and extremely tight.
For a mother that doesn't have a high paying job, it may make sense for her to stay at home. However, I was really impressed with a secretary at my job in the 80s. She wanted to stay at home with their first child, so she quit but she took in another baby to watch, which actually worked out well since her baby had company. She & her husband also delivered newspapers and cleaned some offices in the evening several days a week. They worked it out so that she could stay at home, but they could still have an acceptable income.
It’s all about priorities. Being a SAHM takes sacrifice as the entire family. In this case, it seems they weren’t financially stable or disciplined to handle the sacrifice it takes.
Everyone thinks they can be a business owner and CEO. Guess what most of you aren’t capable of even mid level management let alone a business owner. This is why 90%+ of businesses fail. People either lack the drive, intelligence, or business knowledge. Most of you are just capable of being an individual contributor and that’s it. Sorry
It is true. I learned early in my work life that I was a valuable follower but a terrible leader. Cool thing is, valuable followers may never be wealthy but they can be paid really well with none of the headache. No need to be sorry, everyone has a place.
This year is even worse than the last. Last year, I lost a lot of money on bad investments that I never would have made if I hadn't been so worried about my portfolio. I didn't know if I should continue to invest or pay my mortgage off. After selling my investments, I discovered that the house needed more work than I thought it would. I don't know how long I can keep doing this
Invest in businesses that have predictable cash flows to diversify your holdings. In ten months after I hired a planner to assist me build my portfolio at the end of 2023, I have made money in over 500 different markets. If 2023 teaches us anything, it's that good luck never lasts. We should work harder to be ready for the worst case scenario even in good times.
Alright, so where can someone locate a reliable financial planner? It won't be a problem for me to find the professional who helped you. I'll be retiring in two years, and I might require assistance with handling my far more valuable assets. I'm not willing to take any risk
The husband needs to get a second job. Daycare is too expensive, so it's smart that the wife handles that. She could also take in some kids for afterschool care.
She needs to work a different shift or weekend work, in this day you probably don't need the liability of in home care, sadly, neighbors, friend or even family can sue you into eternity and your homeowners will not pay if you are taking a penny. They will say you were running a business and sadly, I found out the hard way money turns some people into greed monsters
@@pamforrester844If she has any crafting ability she could try an Etsy store? Or something like that. A good friend of mine has gotten her store in a nice place.
@@pamforrester844 taking care of your own kids is not a 9-5 desk job, it doesn't end at 5pm, unless the husband step up and willing to babysit the 2 toddlers at night and wkend, sadly the mother has to take care of them 24/7. base on the responses for this video, the men don't ever think taking care of kids is their responsibility, so the husband may not want to help out at all. tell me how can the mom take care of 2 toddlers And work at same time?
@@Jane-rh7tc..."tell me how can the mom work and take care of two toddlers at the same time". I remember my buddies mom cleaning offices at night - she would take us with her. She also sold tamales and other baked goods to contribute on top of babysetting me. When with my mom, me and my sister played in a designated room in the back of the office. Income is not even the issue in this call, spending is. The only circumstance a child is a legitimate excuse to not work is while they are a newborn.
@mattcrad8605 Agreed. Where there's a will, there's a way to make safe additional income for your family. It may not be big money, but even a little extra income goes a long way.
Me being an RN my analogy is this. Being 500lbs-getting a gastric bypass surgery-losing 300lbs-then eating the same foods and amounts of it-then gaining all that weight back. You got to make the lifestyle change. 👍🏽💪🏽🙏🏽
@jeffreywhitaker5154 NPO next 30 days!🤣 I once had a 520-pounder who had an allergy to "water," so she couldn't drink water! Only sodas with every meal. Of course, she couldn't wipe her behind.
If you think about it the opposite way, you wish you could have $85k in money if you just didn’t buy all that 💩. I mean that’s really hard to do but how easy it is to accumulate debt vs wealth.
He will need to be working a lot and she needs a part time call center job possibly remote. Then at night when he comes home from work she can work a 2nd part time. They can do it in 4 years or less at 20k payments.
Sorry to say, he needs to Man Up. You worked as an electrician, but you wanted to be a 'business owner' and started building decks? Dave would say that was a "dumb butt" idea.
Maybe taking care of the household taking care of the kids noting young kids ,it’s more than multiple jobs within itself. It’s a man’s job to take care of the family he is responsible for their financial needs. He needed to be smart that was his job!
I have 2 credit cards w/low-to-no balances, and still feel like that’s plenty / one too many. Could NOT imagine having 17 cards to keep up with. Ugh 🤢.
i gotta be honest... being close to the finish line with not having to deal with crazy credit debt is so relieving and calming to know that I do have to worry about incurring interest every month unnecessarily.
*i went out on a date with this one chick recently, she told me she had multiple businesses and was ceo of all them. she had a mobile home cleaning service, baked cookies and deserts, and did mobile eyelash appointments. i then found out she had 2 kids from 2 different baby daddies. when the check came she was quiet. people needa stop throwing around they business owners and ceos n shit its so diluted lmao*
@@tramnguyen0000 nah fam she was broke, 29 yr old living with mom lol. i had to pick her up n drop her off i was like swerve. i just thought it was crazy her bio was gassed up saying ceo and business owner. smhhh
A lot of “she needs to work, get night work, work from home” etc but I’ll put in my two cents. Working isn’t just child care, which is significant unless she has an engineering degree in her back pocket, it’s also a lot of phantom costs like transportation, attire, quick food as their both working, taxes on the income etc. It’s always income minus expenses, and a good housewife can significantly bring down the expense side. Better for him to focus solely on income and she do everything else. A lot less friction as well on trying to mesh mandatory work schedules too.
She sat back while they racked up everything on credit cards now she’s good with filing for bankruptcy. She’s part of the problem and they both need to feel the pain or they’ll be back here again in no time. She can do something from home. She needs to do something.
There's ways around this. My husband and I share a car. We picked out an apartment near his work and he usually walks to and from work. I sub in daycares. A lot of them do first kid free. One of them, one of the teachers and her husband share a car. He drops her and the kids off and picks them up at the end of the day. When they needed her to come in early, the director picked her up for a few days. I've had bosses offer to drive me occasionally, but we don't really need that. When the car broke down for a couple days, I rode my bike to and from work. Maybe wife can work part time in timeslots he doesn't need to work or do drop off babysitting at the house.
@@Sable1837 So I would say we don’t know if she just “sat back” or is good with bankruptcy, maybe she is but we don’t have her side of the story. She does need to work, but like a regular wage slave you have rockstars and slugs in homemaking; we don’t have the information to know where she falls. Also it’s interesting you associate employment with punishment, I would prefer not having to go to a job but I wouldn’t go that far
@@analyticalchick3064 The major thing to be considered is income per hour. For example if he can make $40 an hour and she can only make $20 it makes more sense to maximize his working hours. If schedules mesh perfectly then of course it works great, but real life is usually there are complicated moving parts, friction and opportunity costs. For example he gets offered overtime but she has a mandatory shift she has to work so he has to skip the far higher per hour rate. Also if they are both juggling working a childcare it’s hard to sit down, see the household as a functioning unit and cut down on waste. $100 in saved expenses is worth more than $100 in income
All accounts are in collections at this point. He could try negotiating a settlement but he has no cash with which to settle them. Might as well take the bankruptcy at this point.
@@reese85 NOPE...$100k doesn't go as far as it used to. Once you pay all of your fixed expenses like housing, transportation, food, various insurances and incidentals... you still have to fund your retirement and hopefully put money away so your children can get an education (college/trade school) without massive student loans. All of those take a considerable amount income to pay/save for. Most people don't think about the savings obligations.
@@reese85I literally just did my budget and our total bills never exceed $3500/month. My husband brings in $130k/yr and I don’t work because we want a parent to raise our 4 young kids instead of tossing them into a daycare. We save a ton annually and if people can’t make it on $100k, they have a lifestyle issue that is fueled by debt. Kids don’t need Jordan’s, Stanley cups and parents don’t need luxury SUVs, vacations every other month, designer clothes, etc.
@reviewsbygen5591 so including rent/mortgage, and all your other bills the total is only $3500 a month and how much do you guys save a month? But a lot of you guys get getting by or we make it work confused with being comfortable. Sure a lot of ppl can struggle/ get by on less but they gotta give so much to make it work cuz they need more money
reviewsbygen5591 so including rent/mortgage, and all your other bills the total is only $3500 a month and how much do you guys save a month? But a lot of you guys get getting by or we make it work confused with being comfortable. Sure a lot of ppl can struggle/ get by on less but they gotta give so much to make it work cuz they need more money
Some people really don't know how to run a business and they just jump in head first without any idea on how to make things work when the business is facing a down time. Last year he had a good year and he didn't save anything for a rainy day.
To pay off $85K in 4 years using the debt snowball, stop using credit cards and focus on paying off the smallest debts first while making minimum payments on the rest. Aim to pay ~$1,770/month. As each debt is paid off, roll that payment into the next one. Cut expenses, start a side hustle, and use windfalls (bonuses, tax refunds) to speed it up. Stay disciplined, and you’ll crush your goal in 4 years!
Jade and Rachel are out to lunch. $85k cc debt is growing $1k/month+. He brings home $4k and has to raise a family. He is a perfect candidate for bankruptcy.
He needs to forget about building decks and find a new job as an electrician. A journeyman or master electrician should be earning more than $33/hour. He also needs to work as much overtime as he can and cut his lifestyle for a few years. He doesn't need to file bankruptcy.
They aren't out of touch. The strategy is that they make sure they can pay for their four walls: shelter, food, transportation, and utilities. That's it...they can do that with $4k...Ideally he works for someone else and picks up extra hours to make more than $4k a month since he isn't good at running his own business. Take the L and move on, entrepreneurship isn't for him. Pick yourself up and move on. The credit cards get paid if there is anything left at the end of the month. As Jade and Rachel stated in the video, he will need to end up negotiating a settlement with his creditors for pennies on the dollar. That doesn't require bankruptcy. It requires a phone call to the lenders saying "I can't pay, I don't have it, now its your problem. You need to work with me to settle these debts". Dave regularly states that most credit card companies will settle for 10 to 20 cents on the dollar once you twist their arm enough... That's like $10,000...a far cry from $85,000 and not enough to turn your life upside down going the bankruptcy route...
I don't understand how it is possible to have $85,000 in credit card debt. How can you get that high a credit card limit? How can you get that many credit cards?
There's no way you could do this in australia. You have to actually prove you can pay off your debt before a bank gives you a credit card with any sort of decent limit.
I had a card just shy of $50k in my 20's. The banks were celebrating my lack of knowing how to use credit cards properly and making very bad decisions. All now a distant memory in my life!
I have a 250k credit card line from Capital one for my business, a 56k Chase Visa for personal use, a 50k Capital one Personal Card. It's not hard to get if you faithfully carry a card for 20 years, pay them off each month and treat them like a debit card. I have about 500k in credit card credit available at any given time. Lot's of people do, especially those with business cards. Household income is around 90k, so I do not have an exorbitant income to get that.
I applied for an REI store credit card several years ago. I didn’t even have great credit then. I had mediocre credit. But for whatever reason they gave me a $25,000 credit limit. I mean, I like to go camping and hike in the woods, but not that much.
I know someone with over 30 credit cards, has filed bankruptcy once already and likely will have to again. People don’t listen and see bankruptcy as a get out jail card yet never solve the real issue of their finances.
@@djpuplexthey never realistically consider childcare costs and taxes. Even a 100k pretax job can hardly break even the childcare costs of two young children. You need to hire 10 hours of nanny to go for an 8 hour job. Also, Nannies would not multitask to do housework so when you are back home, you have increased workload.
@@doutheo8399 There's two people and seven days in the week on/off parenting she could work weekends while he works Monday thru Friday. On the weekends he can be Mr. Mommy many people do this.
@@doutheo8399Well, Google says the monthly average for childcare in Atlanta is $2500. Most places have package deals for multiple kids, so it'd realistically be $4000-$4500 for both kids until one hits kindergarten age. For her to out-earn that, she'd need $4500 take home pay, which is $80k/yr assuming a 32% overall deduction. I'm just spitballing numbers, but 5-7% 401k + 24-27% taxes is probably what the average joe has at an $80k income. Obviously you can manipulate that to no 401k, but just tossing out numbers. I think you gotta make $80k to make that balance out. Otherwise just stay at home or find a below average daycare.
@@FortuneSeek3rz please, my sister owns a good daycare, the parents in town love them, $1100 a month per kid, daycare costs aren't that high. If the wife is making 25k a year they're coming out on top, and in many places that's part time wages. Go to work, shut your mouth, build a quality life and make some sacrifices for the benefit of your family and yourself, even for the short term.
If you owe 85K in credit cards, and your household income is 35K, sorry pal, your wife doesn’t get to just be home. He needs to up his income and she needs to get a job too so they don’t DROWN IN DEBT
I’m surprised they didn’t bring up selling the house. The family could pay off the debt and rent while they start over until they can buy another house. . Or if they have multiple cars, sell one and pay off the lower balance cc.
Become debt free before dating and only date debt free people or you end up like these callers call literally everyday. I am the only one who sees this pattern. They up load a video almost everyday of almost the same exact couple the only thing changes is the name and the state. GROW UP PEOPLE!
These guys have been sitting in a burning house talking about what's for dinner. Meanwhile, the house is about gone now. Hard choices should have been made a few years ago.
Jade writing it all down like it is a damn quiz lol bruh...you just going to say the same thing you always say, live on less than you make, sell the cars, work 3 jobs, attack that debt XD
Seriously. Wash, rinse, and repeat. This show is for the sheep who enjoy having their "safe space" reinforced by talking heads (except Dave Ramsey himself, as he has legitimate business and life experience).
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
“Mortgage doesn’t take a credit card” sums up this guy 😂
No kidding.
Meaning his debt would’ve been way worse, thank God he can’t use a cc for the mortgage
Ahhhh mortgage does take a credit card if you cash advance it
You’re actually so right lol
The mortgage company dodged a bullet with him.
Love these two, especially when they are on together; they both are so compassionate and offer hope to what may feel like an impossible situation resolve.
Wife can work part time. Weekends, from home, different shifts. You can do insurance billing from home while the kids nap. Take in one more kid bringing in daycare money.
My mom did this for years. Watched the neighbor kid both of who's parents worked.
17 credit cards, wife not working, no sense of urgency, no plan. Then wants to declare bankruptcy and make it all disappear. Geez
Just like Trump. 😂
Staying at home is a luxury, having your own business is a luxury. You cannot afford this.
its called entitlement
Daycare for 2 kids will cost around 20k per year. She would have to make more than that after taxes to have it make sense.
Having kids is a luxury.
@@Mrs.Butterworth 20K? On what Planet? Try 36K on the low end.
@@Mrs.Butterworth Weekend and job and co-parenting. Daycare is $20k a year but excuses are priceless.
17 credit cards? He is 100% f%ck up.
it's the American dream bud
@@perotalIt's not the American dream as much as the American nightmare of buying into the American banking system.
@chazzkramer7676 it's actually buying into American Consumerism and trying to keep up with the Joneses. Americans are consumer centric and the mentally that if my neighbor has one, so I want one too, is keeping them broke as a joke.
Yeah this is just reckless
@@chazzkramer7676Consumerism gone wild, it’s pure insanity.
6:30 “Since we stopped paying the credit cards we’ve been cash only” well yeah lol you’ve maxed them out, you CAN’T use them.
@thabsmkhize2481 I thought I was the only South African who watches this show😂I am looking at your surname. It has saved me from making so many dumb decisions, gosh😢🤞🤣
Rachels face when he's counting the credit cards "oh mercy me!" lol
I just don’t understand why one has this many credit cards and think “this is fine”.
I start sweating at 3k
Cards aren't the problem it's the balances.
@@djpuplex no, its the cards. $500 on each of the cards doesn't sound scary, but add them together. $9500 is an ugly amount to owe at 20%+. its pretty easy to build up small amounts on each card without even thinking
@@gtileo I have just about 30 cards with $0 balance on them.
Anyone who wouldn't think "this is fine" would stop long before it gets to this point. That's how.
I love that Jade always asks how old the kids are. She's always trying to get the mom back to work which I love
GREAT point. 🙏🏽💪🏽👍🏽
That's what I wanted to know. Also, they catch some situations with SAHM who have school age kids sometimes the oldest is a teen, too.
@@analyticalchick3064 What does SAHM mean?
@@jeffreywhitaker5154Stay at home mom
Why do you love moms not being home with kids?
Sometimes people want to work for themselves to not work, be lazy, and have the flexibility. Doesn’t sound like he’s working much and neither is she.
We don't know that either of them are "lazy." He's been in a business with a product that customers might postpone or decline because inflation is eating up their own incomes. Whatever the reason that business dropped off, he probably should have jumped at the chance to work full-time as an employee a little sooner.
Successful business owners work their own business. Labor costs are usually the make or break for most small businesses.
But she’s right. Some people just aren’t cut out for independent work. This does sound pretty laid back…
Rachel's face as he counts the credit cards! 😂😂😂😂
Rachel’s face said it all 9:24 😂😂. He’s not going to cut up the cards.
17 credit cards! Think maybe that’s the problem!
I think its absurd credit card companies will look at someone with 16 credit cards and think.... you know what that guy needs... a 17th one!
That's the problem. I mean I agree applying for 17 is absurd. But issuing 17 is dumber.
I have over 30 cards never paid a dime in interest and have collected over $10k in rewards/bonuses.
I don't know how people are being approved for all these cards. I can't even get approved for a second card. I want to do a balance transfer so I can pay off my balance and pay less interest. But I can't get approved for anything . Smh
@@nypinstripes02 I have a credit score of over 800. Pay in full every month. Capital one and Amex don't approve me because I'm not a profitable customer to them everyone one else never had a problem.
@nypinstripes02 who are you applying to?
I was bad with credit cards. My hi was
$27k balance. I was making roughy $45k. I finally had enuf and paid it off. It was very difficult. It was so worth it.
Now I have my home paid for and no debt at all. $50k in savings. I’ve done a complete 180 since first hearing Dave back in 2017. Thx
wow! what a great testimony ; hope to see you soon at the top😊
$85k in consumer debt but your wife isn’t working??? And you’re not paying them off???
I have news for you-you cannot afford her to be a stay-at-home-mom. I know she prob has zero skills, but tell her to get a job as a cashier. Wake the Hell up.
Dave's wife didn't work even though he filed bankruptcy
You DO realize that daycare (unless for free with a family member) is EXPENSIVE AS HELL! If she can't do better than being a cashier, then it's COUNTERPRODUCTIVE!
@@siva47931and Dave constantly talks about what an idiot he was back then. You trying too hard 😂
@@jasonrodgers9063Not really. He works first shift she works second. Or she only works part time on the weekends when he is home.
I’m not saying it’s great but it’s something to get money and that’s what matters
@@jasonrodgers9063 She can get a job on the weekends when her husband isn't working. Or she can work in the evenings when he gets home from work to watch the kids.
An electrician and deck builder, and he can't find clients?
Yup he won’t pay his bills but imagine if one of his customers didn’t. He’s a bum
@@sccdeanwhat are you 😂😂
He might have a bad reputation
@@analyticalchick3064 Yes this, I just had a guy do a new shower for me, and I regret it. He seemed very desperate for the work, and it's really hard to find a contractor in this area, so I gave him the job... needless to say, once said job was finished, I realized why he was desperate for work, he was not a very bright guy and his finish work was TERRIBLE, I have to do it over!! Needless to say he gave me a few business cards to pass out to friends, and I legit kept one to give to someone I don't like, and through the rest out int he trash, as I would NEVER recommend this person to anyone I care about!! It's possible this caller needs to do some self reflection, as perhaps being a contractor isn't the right fit for him!
Most people make horrible business owners. Some people would rather go $80K into debt so they can “work for them self” rather than punch a clock
Some of this advice is so basic, why u have to call in is beyond me, it's common sense
Common sense is not so common anymore 🤷🏽♂
@@einstein1102well true.
Dave says it all the time, it's just common sense. But it's the lack of it that keeps his company in business!
@@floresnashvilledrummer Works both ways.
They have to take the easy calls when Dave's not on the show. This thing is going to fall apart once he fully retires, he's the only one that has answers that feel unscripted and genuine. Jade straight up asks the same exact questions every single call, it feels like she is straight up reading a script.
How do people even get approved for this much lmao
I’m self-employed and make only about 50-60k per year and I have about $100,000 worth of credit in credit cards that I barely use. I currently have a very good credit score but a few years ago my credit was somewhat mediocre and I applied for an REI store credit card and they approved me for $25,000, which is an absurdly high amount for an outdoor recreation retailer.
I have over $150k in available credit (I don't know the exact amount) - They give it away like candy if you don't need it. Could I get it higher? Sure, but there's no point - That's not our goal anymore. It's all sign up bonuses (SUB) game now. When you "need" it and your utilization is worse, obviously CC companies are more stringent (And have a right to be).
It’s insane. We have three. One is the kids (it’s actually just for college costs). Total credit limit is 50k. Our income is 480k. And we have zero other debt. House was paid off 15 years ago
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024
Wow that's huge, how do you make that
much monthly?
As a beginner what do i need to do? How can i invest, on which platform? If you know any please share.
Sincerely speaking. I will continue to trade and stick to expert ja ne daily signals and guides as long as it works well for me...
GREAT NWES!!started working with Christina back in April , and my financial goals have been clearer. It's like having a strategic partner for my money with a solid track record.
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
Ive noticed many of these calls involve a stay at home mom. I’m pregnant with my first and wish more than anything that I could stay home with my little one, but it’s not in the picture for us just yet. My husband and I live in CO and make over 200k a year and it still wouldn’t make sense for me to quit. So expensive here! The only debt we have is a mortgage. We are not suffering but if we lived off just my husband, it would be stressful and extremely tight.
Why have a baby?
For a mother that doesn't have a high paying job, it may make sense for her to stay at home. However, I was really impressed with a secretary at my job in the 80s. She wanted to stay at home with their first child, so she quit but she took in another baby to watch, which actually worked out well since her baby had company. She & her husband also delivered newspapers and cleaned some offices in the evening several days a week. They worked it out so that she could stay at home, but they could still have an acceptable income.
@@carolr7823 see that’s really smart! I was thinking about working in the evening cleaning or some job to make it work. That’s inspiring. ❤
It’s all about priorities. Being a SAHM takes sacrifice as the entire family. In this case, it seems they weren’t financially stable or disciplined to handle the sacrifice it takes.
@@ERNIE555because you can do both 🤡
Everyone thinks they can be a business owner and CEO. Guess what most of you aren’t capable of even mid level management let alone a business owner. This is why 90%+ of businesses fail. People either lack the drive, intelligence, or business knowledge. Most of you are just capable of being an individual contributor and that’s it. Sorry
Learned that one the hard way didn’t you? Little Frankfurter.
It is true. I learned early in my work life that I was a valuable follower but a terrible leader. Cool thing is, valuable followers may never be wealthy but they can be paid really well with none of the headache. No need to be sorry, everyone has a place.
Problem is, you won't know you're capable until you try
They also tend to think they can start somewhere in the middle instead of starting small and building up.
People who can't hold jobs want to own businesses
The good news is that he has insanely marketable skills (carpentry and electrician) but he has no business sense.
Rachel is about to break out in hives while dude is counting up his 17 cards.
This year is even worse than the last. Last year, I lost a lot of money on bad investments that I never would have made if I hadn't been so worried about my portfolio. I didn't know if I should continue to invest or pay my mortgage off. After selling my investments, I discovered that the house needed more work than I thought it would. I don't know how long I can keep doing this
We have all made mistakes, therefore keep it simple
Invest in businesses that have predictable cash flows to diversify your holdings. In ten months after I hired a planner to assist me build my portfolio at the end of 2023, I have made money in over 500 different markets. If 2023 teaches us anything, it's that good luck never lasts. We should work harder to be ready for the worst case scenario even in good times.
Alright, so where can someone locate a reliable financial planner? It won't be a problem for me to find the professional who helped you. I'll be retiring in two years, and I might require assistance with handling my far more valuable assets. I'm not willing to take any risk
*June Renae Matthysse*
You are likely to find more information if you look her up online
The denial in his voice is unreal 😅😂
Holy crap, I thought we were bad with $38000 in credit card debt in middle age! That’s scary.
The husband needs to get a second job. Daycare is too expensive, so it's smart that the wife handles that. She could also take in some kids for afterschool care.
She needs to work a different shift or weekend work, in this day you probably don't need the liability of in home care, sadly, neighbors, friend or even family can sue you into eternity and your homeowners will not pay if you are taking a penny. They will say you were running a business and sadly, I found out the hard way money turns some people into greed monsters
@@pamforrester844If she has any crafting ability she could try an Etsy store? Or something like that. A good friend of mine has gotten her store in a nice place.
@@pamforrester844 taking care of your own kids is not a 9-5 desk job, it doesn't end at 5pm, unless the husband step up and willing to babysit the 2 toddlers at night and wkend, sadly the mother has to take care of them 24/7. base on the responses for this video, the men don't ever think taking care of kids is their responsibility, so the husband may not want to help out at all. tell me how can the mom take care of 2 toddlers And work at same time?
@@Jane-rh7tc..."tell me how can the mom work and take care of two toddlers at the same time". I remember my buddies mom cleaning offices at night - she would take us with her. She also sold tamales and other baked goods to contribute on top of babysetting me. When with my mom, me and my sister played in a designated room in the back of the office. Income is not even the issue in this call, spending is. The only circumstance a child is a legitimate excuse to not work is while they are a newborn.
@mattcrad8605 Agreed. Where there's a will, there's a way to make safe additional income for your family. It may not be big money, but even a little extra income goes a long way.
Me being an RN my analogy is this. Being 500lbs-getting a gastric bypass surgery-losing 300lbs-then eating the same foods and amounts of it-then gaining all that weight back. You got to make the lifestyle change. 👍🏽💪🏽🙏🏽
@@jeffreywhitaker5154 Yep, when the dinner bell rings you gotta say no sometimes.
@@FortuneSeek3rz EXAAACTLY.
As an RN, I took care of 500Lb patients. Not so fun.
@@Desertbiker617 Yeah? Me too, but when they were in full blown septic shock from eating a buffet 2 days after GB surgery SMMFH. Now THAT'S no fun.
@jeffreywhitaker5154 NPO next 30 days!🤣
I once had a 520-pounder who had an allergy to "water," so she couldn't drink water! Only sodas with every meal. Of course, she couldn't wipe her behind.
i am addicted to this show
Look at the banks HQ and look at your house. Who has the nicer building? - Dave Ramsey
I know a lot of failing business or business that declared bankruptcy that had nicer buildings than my house
@@siva47931 they weren't credit card company smh.
I wouldn't want to live in a glass office building so to live in, my house is nicer.
@@MyAirMyles boy you don't get the point. sad. sad. sad.
These ladies tag teamed their advice perfectly to help this guy out!! Great job!! 👏🏽
7:57 your wife notices the oven😂😂😂😂😂😂😂😂
My bank keeps wanting me to get a redit card, with a $15k credit limit.. I always tell them no!
Dude could make some BANK as an electrician.
This guy ain't stopping at 85K....what's the difference if he files bankruptcy at 85K or 200K....literally nothing.
If you think about it the opposite way, you wish you could have $85k in money if you just didn’t buy all that 💩. I mean that’s really hard to do but how easy it is to accumulate debt vs wealth.
yeah because THAT's how it magically works.
These calls used to start with "so I bought a new truck" now they are all "so I started a business..." and "so I bought a property..."
You can always default and negotiate later on. Not all creditors will sue you.
He will need to be working a lot and she needs a part time call center job possibly remote. Then at night when he comes home from work she can work a 2nd part time. They can do it in 4 years or less at 20k payments.
I swear to God, 90% of calls that come in have a stay at home spouse.
Sorry to say, he needs to Man Up.
You worked as an electrician, but you wanted to be a 'business owner' and started building decks?
Dave would say that was a "dumb butt" idea.
The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth. -Psalm 37:21
Why is wife not working??
Maybe taking care of the household taking care of the kids noting young kids ,it’s more than multiple jobs within itself. It’s a man’s job to take care of the family he is responsible for their financial needs. He needed to be smart that was his job!
Because she married a simp
Mommy doesn't have the luxury of the SAHM gig.
Because she said so and will cry if it's brought up.
She worked hard to find a doormat to marry and she’s not going to give up what’s hers. He can get a part time job at arby’s.
I have 2 credit cards w/low-to-no balances, and still feel like that’s plenty / one too many. Could NOT imagine having 17 cards to keep up with. Ugh 🤢.
Jade and Rachel the dream team! ♥️♥️♥️ could both answer how the would cope with going out for a date with a man who has not got a credit card?
OMG, the need for his skill is in demand in ATL, he need to get on the street, now! The work is out there, he needs to get his hustle on.
The guy I hired a few years back to replace a deck, put me on HIS schedule as he was booked out 6 months! Something else going on here.....
i gotta be honest... being close to the finish line with not having to deal with crazy credit debt is so relieving and calming to know that I do have to worry about incurring interest every month unnecessarily.
*i went out on a date with this one chick recently, she told me she had multiple businesses and was ceo of all them. she had a mobile home cleaning service, baked cookies and deserts, and did mobile eyelash appointments. i then found out she had 2 kids from 2 different baby daddies. when the check came she was quiet. people needa stop throwing around they business owners and ceos n shit its so diluted lmao*
Well - at least she was working to support her two kids and hopefully was not leaching off the government.
LMAO. Should have asked her what "CEO" stands for. Bet she doesn't even know.
I saw that as an admirable and hustling lady but eh that's not CEO
Amen. Preach
@@tramnguyen0000 nah fam she was broke, 29 yr old living with mom lol. i had to pick her up n drop her off i was like swerve. i just thought it was crazy her bio was gassed up saying ceo and business owner. smhhh
A lot of “she needs to work, get night work, work from home” etc but I’ll put in my two cents. Working isn’t just child care, which is significant unless she has an engineering degree in her back pocket, it’s also a lot of phantom costs like transportation, attire, quick food as their both working, taxes on the income etc. It’s always income minus expenses, and a good housewife can significantly bring down the expense side.
Better for him to focus solely on income and she do everything else. A lot less friction as well on trying to mesh mandatory work schedules too.
She sat back while they racked up everything on credit cards now she’s good with filing for bankruptcy. She’s part of the problem and they both need to feel the pain or they’ll be back here again in no time. She can do something from home. She needs to do something.
There's ways around this. My husband and I share a car. We picked out an apartment near his work and he usually walks to and from work. I sub in daycares. A lot of them do first kid free. One of them, one of the teachers and her husband share a car. He drops her and the kids off and picks them up at the end of the day. When they needed her to come in early, the director picked her up for a few days. I've had bosses offer to drive me occasionally, but we don't really need that. When the car broke down for a couple days, I rode my bike to and from work. Maybe wife can work part time in timeslots he doesn't need to work or do drop off babysitting at the house.
@@Sable1837 So I would say we don’t know if she just “sat back” or is good with bankruptcy, maybe she is but we don’t have her side of the story. She does need to work, but like a regular wage slave you have rockstars and slugs in homemaking; we don’t have the information to know where she falls.
Also it’s interesting you associate employment with punishment, I would prefer not having to go to a job but I wouldn’t go that far
@@analyticalchick3064 The major thing to be considered is income per hour. For example if he can make $40 an hour and she can only make $20 it makes more sense to maximize his working hours. If schedules mesh perfectly then of course it works great, but real life is usually there are complicated moving parts, friction and opportunity costs.
For example he gets offered overtime but she has a mandatory shift she has to work so he has to skip the far higher per hour rate. Also if they are both juggling working a childcare it’s hard to sit down, see the household as a functioning unit and cut down on waste. $100 in saved expenses is worth more than $100 in income
All accounts are in collections at this point. He could try negotiating a settlement but he has no cash with which to settle them. Might as well take the bankruptcy at this point.
I don't think people realize stay at home spouse is a luxury and shouldn't be an expectation unless you have the requisite salary.
that’s the thing! Ppl still think these 80-100k salaries be enough to provide for a family and it’s not
@@reese85 NOPE...$100k doesn't go as far as it used to. Once you pay all of your fixed expenses like housing, transportation, food, various insurances and incidentals... you still have to fund your retirement and hopefully put money away so your children can get an education (college/trade school) without massive student loans. All of those take a considerable amount income to pay/save for. Most people don't think about the savings obligations.
@@reese85I literally just did my budget and our total bills never exceed $3500/month. My husband brings in $130k/yr and I don’t work because we want a parent to raise our 4 young kids instead of tossing them into a daycare. We save a ton annually and if people can’t make it on $100k, they have a lifestyle issue that is fueled by debt. Kids don’t need Jordan’s, Stanley cups and parents don’t need luxury SUVs, vacations every other month, designer clothes, etc.
@reviewsbygen5591 so including rent/mortgage, and all your other bills the total is only $3500 a month and how much do you guys save a month? But a lot of you guys get getting by or we make it work confused with being comfortable. Sure a lot of ppl can struggle/ get by on less but they gotta give so much to make it work cuz they need more money
reviewsbygen5591 so including rent/mortgage, and all your other bills the total is only $3500 a month and how much do you guys save a month? But a lot of you guys get getting by or we make it work confused with being comfortable. Sure a lot of ppl can struggle/ get by on less but they gotta give so much to make it work cuz they need more money
Some people really don't know how to run a business and they just jump in head first without any idea on how to make things work when the business is facing a down time. Last year he had a good year and he didn't save anything for a rainy day.
He needs to be working full-time and a side hustle. His wife can run a daycare out of their house.
To pay off $85K in 4 years using the debt snowball, stop using credit cards and focus on paying off the smallest debts first while making minimum payments on the rest. Aim to pay ~$1,770/month. As each debt is paid off, roll that payment into the next one. Cut expenses, start a side hustle, and use windfalls (bonuses, tax refunds) to speed it up. Stay disciplined, and you’ll crush your goal in 4 years!
Jade and Rachel are out to lunch.
$85k cc debt is growing $1k/month+. He brings home $4k and has to raise a family.
He is a perfect candidate for bankruptcy.
He needs to forget about building decks and find a new job as an electrician. A journeyman or master electrician should be earning more than $33/hour. He also needs to work as much overtime as he can and cut his lifestyle for a few years. He doesn't need to file bankruptcy.
Bankruptcy is legalized stealing
They aren't out of touch. The strategy is that they make sure they can pay for their four walls: shelter, food, transportation, and utilities. That's it...they can do that with $4k...Ideally he works for someone else and picks up extra hours to make more than $4k a month since he isn't good at running his own business. Take the L and move on, entrepreneurship isn't for him. Pick yourself up and move on.
The credit cards get paid if there is anything left at the end of the month. As Jade and Rachel stated in the video, he will need to end up negotiating a settlement with his creditors for pennies on the dollar. That doesn't require bankruptcy. It requires a phone call to the lenders saying "I can't pay, I don't have it, now its your problem. You need to work with me to settle these debts".
Dave regularly states that most credit card companies will settle for 10 to 20 cents on the dollar once you twist their arm enough... That's like $10,000...a far cry from $85,000 and not enough to turn your life upside down going the bankruptcy route...
@@cutehumor Some bankruptcies are loan restructuring to make smaller payments over a longer time. Those are not theft.
@@zone4garlicfarm I’m talking chapter 7 discharging bankruptcy is legalized stealing
Seemed like a guy who watched a video about maxing out everything and do a bankruptcy is the smart, easy way to live.
Rachel has the best faces for the video screenshots!
How are you a commercial electrician and put yourself in this kind of situation? Blows my mind man.
Honestly,unless they have free help to have a babysitter, daycare is too expensive to have her work. Maybe she can do some stay at home work.
Wait, sell the oven? That seems like a slippery slope to doordashing every meal :P
I don't understand how it is possible to have $85,000 in credit card debt. How can you get that high a credit card limit? How can you get that many credit cards?
“I think what we have here is an inconsistency in pay” ….. No crap genius.
17 Credit cards is crazy, I have 3 and they are all set to auto pay the full balance every month.
He just wandered into this, I guess? Wow.
file bankruptcy and get another hand full of credit cards dude. This stuff is fun.
Dave would have answered this call in a much more straight forward fashion.
There's no way you could do this in australia. You have to actually prove you can pay off your debt before a bank gives you a credit card with any sort of decent limit.
They should do debt consolidation. They gotta be able to find something lower than 85k divided into 17 payments and 20%+ interest.
I look at bankruptcy similar to welfare. You make decisions in your life, you pay it, not someone else. Man up!!
Do you say that to the corporations that go insolvent?
Yes
I dont understand how people have like $50k credit card lines
Edit: Oh he said he had 19 cards!!??
some cards have 25-30k limits if you have them long enough. or credit union cards.
Your credit line is based on your debt and income.
I had a card just shy of $50k in my 20's. The banks were celebrating my lack of knowing how to use credit cards properly and making very bad decisions. All now a distant memory in my life!
I have a 250k credit card line from Capital one for my business, a 56k Chase Visa for personal use, a 50k Capital one Personal Card.
It's not hard to get if you faithfully carry a card for 20 years, pay them off each month and treat them like a debit card.
I have about 500k in credit card credit available at any given time. Lot's of people do, especially those with business cards.
Household income is around 90k, so I do not have an exorbitant income to get that.
I applied for an REI store credit card several years ago. I didn’t even have great credit then. I had mediocre credit. But for whatever reason they gave me a $25,000 credit limit. I mean, I like to go camping and hike in the woods, but not that much.
I know someone with over 30 credit cards, has filed bankruptcy once already and likely will have to again. People don’t listen and see bankruptcy as a get out jail card yet never solve the real issue of their finances.
Probably put an Audi Q7 on the credit card.
His wife needs a job...
Ramsey's dance around that subject. Her hustle is her husband.
@@djpuplexthey never realistically consider childcare costs and taxes. Even a 100k pretax job can hardly break even the childcare costs of two young children. You need to hire 10 hours of nanny to go for an 8 hour job. Also, Nannies would not multitask to do housework so when you are back home, you have increased workload.
@@doutheo8399 There's two people and seven days in the week on/off parenting she could work weekends while he works Monday thru Friday. On the weekends he can be Mr. Mommy many people do this.
@@doutheo8399Well, Google says the monthly average for childcare in Atlanta is $2500.
Most places have package deals for multiple kids, so it'd realistically be $4000-$4500 for both kids until one hits kindergarten age.
For her to out-earn that, she'd need $4500 take home pay, which is $80k/yr assuming a 32% overall deduction.
I'm just spitballing numbers, but 5-7% 401k + 24-27% taxes is probably what the average joe has at an $80k income.
Obviously you can manipulate that to no 401k, but just tossing out numbers. I think you gotta make $80k to make that balance out. Otherwise just stay at home or find a below average daycare.
@@djpuplexit is clear you don't have children. What is your brilliant plan to have kids and the parent work? Their kids are 2 and 4 years old.
some terrible life choices. close the company and go work for someone else, and tell your wife to go back to work
Daycare costs will wipe them out. She has to stay at home.
Yeah no, that would be stupid to make her go to work and ask family to raise their children.
FortuneSeek3rz there’s income based daycares that won’t cost nearly as much
@@FortuneSeek3rz You have no idea, maybe she could make great money!
@@FortuneSeek3rz please, my sister owns a good daycare, the parents in town love them, $1100 a month per kid, daycare costs aren't that high. If the wife is making 25k a year they're coming out on top, and in many places that's part time wages.
Go to work, shut your mouth, build a quality life and make some sacrifices for the benefit of your family and yourself, even for the short term.
17 credit cards is INSANE!!!
17. He counted them on the air
@@janeoleary8454 thats what I said....17. 🤣🤣🤣
Stay at home with children is better than paying for a babysitter
Only if you don't make much money.
They can coordinate shifts so 1 of them is always home. Or, if she is skilled and the money is good, then it still may be worthwhile.
I make 190k. Pretty hard to not come out ahead on that
Why did you ever get 19 cards why?
Bro I’m over here with 600$ on my credit card and I’m stressed out about it 😂
85k in debt stay at home mom and dude is nonchalant, i’d be freaking the F out
He stopped paying at $85k, 7 months ago... And now owes $110,000 due to interest and penalties.
His business is a fail.
He's deluded.
It's so simple, don't ever spend more money, than the incoming money,than you never ever get in problems...
The debt would be much less if they did rice and beans during the slow year
Why ppl blaming on the wife? My wife is stay at home mom. And she is very very busy
but you probably don’t owe 85k in CC
If you owe 85K in credit cards, and your household income is 35K, sorry pal, your wife doesn’t get to just be home. He needs to up his income and she needs to get a job too so they don’t DROWN IN DEBT
When you try to buy yourself a job and you fail.
17 credit cards and no shame. And people like this walk away with a better car and house than me.
I’m surprised they didn’t bring up selling the house. The family could pay off the debt and rent while they start over until they can buy another house. . Or if they have multiple cars, sell one and pay off the lower balance cc.
He makes her get a job, then she divorces him
Become debt free before dating and only date debt free people or you end up like these callers call literally everyday. I am the only one who sees this pattern. They up load a video almost everyday of almost the same exact couple the only thing changes is the name and the state. GROW UP PEOPLE!
He is guessing his business and personal numbers. And then we wonder why the business is not successful.
Why is the wife not working part time to atleast meet the minimum credit card payments
These guys have been sitting in a burning house talking about what's for dinner. Meanwhile, the house is about gone now. Hard choices should have been made a few years ago.
Jade writing it all down like it is a damn quiz lol bruh...you just going to say the same thing you always say, live on less than you make, sell the cars, work 3 jobs, attack that debt XD
She has to follow the rules just like any other employee.
Seriously. Wash, rinse, and repeat. This show is for the sheep who enjoy having their "safe space" reinforced by talking heads (except Dave Ramsey himself, as he has legitimate business and life experience).
she has to look busy.... they're good at that
Yea but she looks darn fine doing it
Please stop watching if you don't get any value from it. Nobody forced an adult like you.
He's already given up, he doesn't care, next.
Not paying credit cards is like when you don’t pay your student loans you get used to not paying that’s the problem.
Some people are okay wasting their lives working cause of CC debt. You know I don't have any of that? Cause I hate my fuckin job 😒
Ditto that, I stay out of debt so I can work the bare minimum of 32 hours to keep my insurance and pay the bills!
They both need to go out and get jobs. Call those credit cards and get on a payment plan. Sheesh, this is crazy.
And here i'm worrying my 600 cc debt and other 2700 consumer loan (both under 13 apr) ...will be payed off in 3 months.😅
Well I am still paying $2000 for my ac unit. I feel I will pay it off soon!!!
How do people end up in that sort of debt and think it’s okay