INTERVENTION: The Dumbest Financial Decisions I've Ever Seen
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- Опубліковано 11 лип 2024
- 🔥 Meet Santiago, a young go-getter who's been through the wringer, struggling to make ends meet while supporting his family and a sugar baby. His journey's at a turning point.
In this episode, we're diving into Santiago's world, exploring the hustle, the challenges, and the savvy moves needed to pull himself out of a tight spot. It's a rollercoaster of smart budgeting, tough choices, and aligning money moves with life's big goals.
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📺 New to Finance Action? PLAYLIST Start Here- • Finance Action
🕒TIMESTAMPS🕒
0:00 PARTY STARTS
01:21 WHAT THE HECK IS GOING ON?
09:01 INCOME & ASSETS
13:30 FAMILY DISASTER
15:15 ACCUSED OF GTA
17:10 EXPENSES & DEBT
25:10 SUGAR BABY DRAINING
29:35 THE MONEY CASE
32:19 WHAT TO DO?
37:50 CUT CREDIT CARDS
41:01 WILL HE TAKE ACTION?
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Disclaimer: Please be aware that this video and all other content produced by Romain Faure are not intended to serve as investment guidance or formal financial advice. The information presented is solely for entertainment and educational objectives. The money displayed in our video podcast is for entertainment purposes only and is not real currency. All cash shown is prop money, and should not be mistaken for genuine legal tender. Please enjoy our content responsibly!
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Financial education, Finance Action, American debt, personal finance, budget money debt cash, how to invest in real estate, how to start in real estate, rental property, investment property, compound interest, buying house, insurance, save, buy, pay off debt, debt free journey, financial independence, how to pay off debt, how to pay off student loans, debt snowball, financial independence retire early, how to pay off student loans fast, debt payoff, how to make money, get rich quick, get rich, make money online, net worth, loans, credit score, should I go to college, college debt, student loan forgiveness, debt free community, student loan, credit, loan, budgeting, stock trading, crypto, finance, budget, student loan forgiveness, car payments, credit card debt, debt, credit card, payday loans, car debt, The Dave Ramsey Show, The Plain Bagel, The Rich Dad Channel, Graham Stephan, Meet Kevin, Ryan Pineda, Elena Taber, Noelle Randall, Lili Thompson, John Olfert, Bigger Pockets, Caleb Kids Show, Dave Ramsey Live, Caleb Hammer, Coffeezilla, Bridgette Wilson, John Oliver, Che and Cherice, Caleb Maupin, inflation, manifestation. - Розваги
I love Romain. He doesn't judge anyone for their poor choices. He just offers suggestions on how to improve their financial problems. His short term followups are all positive. I'd like to see how the people on his show fare over the longterm.
Noted :)
I agree. He’s very very smooth. He puts out a totally different product from Caleb Hammer (no disrespect to Caleb. He is wonderful). Same type of content, but different product. I’m impressed too 👌
Agree, the main reason I started following the channel
🎉Lifestyle changes and Your life has changed🎉
I got a feeling that 5 years from now this kid will have made a major improvement in his life.
Really good episode! Santiago is actually very likeable and I feel for him, he's had a tough life. I'm surprised Romain doesn't have more followers, the content is really good. People who watch Caleb Hammer need to get on to this channel.
He does a great job breaking the show into assets/income then liabilities afterwards. Calebs show is literally all over the place which is my biggest issue. Theres no cohesiveness in Calebs format. This guy having little amount of subscribers is shocking though.
@@johnkantar8034 I agree. I used to watch other channels with this audit format, but they became drama farms and the thumbnail ethics became super off-putting/disingenuous and potentionally not great for the person being interviewed (and the audience/comments followed suite). I appreciate Romain has kept it professional. Yes, it's less "reality-TV", but it's more of what I came for (financial talk).
100% agree...this is the channel I've been looking for! You deserve so many more followers - I Iove that there is a format and it's easy to follow the advice you're giving!
I love how you emphasized that his behavior could influence his siblings. Great episode!!
Thank you Gabrielle :)
So true, he is a role model!
@@sharoncollins7722 exactly !
"I want you to have the mindset of a leader." Well put Romain. I grew up rough, and I had to be the leader in the family (though I'm the youngest). It takes lot of focus and effort to be the person who breaks out of the cycle.
Congratulations to you for making it happen!
I'm really rooting for this guy. A great episode. LOVE Romain's facial expressions
He should try to be a "worker of the state" again....lol 😂
I think part of the problem with the “surviving” category is that everyone could say they’re “surviving. So anyone could technically select it whether they’re great or terrible financially. And it just seems sort of empowering to the person living paycheck to paycheck to say they’re surviving like that’s fine. I’m not trying to shame people, but it should be viewed as a negative to just be surviving as a working adult or retiree, because people should have grown their wealth or be in the process of growing their wealth rather than just progressing in life paycheck to paycheck.
I’d prefer categories of: Mayhem!!!! 😱 Struggling ☹️, treading water 🙄ok, 😐and comfortable 😃
Love that - my vision was to grasp their perspectives early in the discussion based on emotions. But I like your recommendations :)
Happy new year Romain! Wishing Santiago the best. He seemed like a great guy with a big heart. Just needed some guidance!
Happy New Year to you as well :)
No idea how you only have 2k followers….. keep it up though you’re gonna make it 🔥🔥🔥🔥
Last video is next week mate :( I gave it a fair run haha
@@itsRomainFaure you are on your way to 10k subs. Don't stop now!
@@pt2913 I won’t anymore :)
Great show! Santiago is in need of a mentor.
Yes he has a lot of responsibilities on him!
I really loved that you took the time to impress upon Santiago the responsibility of being the eldest sibling and probably the only father figure his brothers and sisters have to look to. It's a burden to bear indeed but it seems like one he was connected to from the very beginning of the interview.
I am so happy I found you and your program. I shared with my sister and now she is following! 🎉
Wonderful!
Seems like a smart young man: great resilience! I believe he will be great at what he Puts his mind too. He came from a tough upbringing. With his sharp mind he would be great In Engineering, Plumbing,Stock Investments, Military,Electrician,Mechanic(High end cars). He is resilient!
Love this channel!
Thank you so much!
I love every episode of this channel. I see crazy spending but I understand where they’re coming from they’re able to open up to Romaine.
I really like this dude, he seems well-intentioned and inexperienced
I enjoyed my time with him as well very much !
Yay! You today and Caleb tomorrow, perfect start to 2024
Happy New Year to you 🎊
Santiago is such a great name
Any future kids ? :)
I really hope Santiago heeds your sound advice. He can have a bright future. I see potential in him! ❤
I hope so too!
This was an interesting one. I think there are many young people who have a similar mindset, so hopefully it reaches that audience.
I am crossing my fingers too!
Money is not meant to control people, rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place.
Now with the recent economy, To get Financial FREEDOM you have to be making money while you're asleep.
True though unfortunately mine always end up with losses 😭
Most new traders make the mistake of trading in their own without having the required skills to help them benefit from the market. I was once like that but all changed thanks to expert Brian Nelson
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Mr Brian is a sincere man who understands the challenge faced by beginners. I started trading Bitcoin under his guidance after seeing his interview with CNDH, he dose not request for any chargers to teach investors on how to trade and generate profit for themselves .
Section 8 is great but they could do better. I interned at the Housing Authority while in college. They had incentive program where you try to save $ for 5 years in exchange for being at the top of the waiting list . But I don’t remember the program teaching about money management, compound interest etc..
Have your groceries delivered for $10. Has he been honest with the girlfriend about his finances? If she is truly cares for him, she’ll work with him in saving money. If she’s not willing, good to know before he marries her. He DOES have a pet! The girlfriend!!
You can check out the video of her girlfriend ua-cam.com/video/Avg0H3ClPbg/v-deo.htmlsi=GDLR_oRhhLY20cZk
I immediately stopped struggling once my girlfriend started dating other men
And my friends were no longer interesting
Now I’m not struggling and I’ll never let anyone help me spend a single penny
No woman can make me go broke
No woman is beautiful enough to keep me broke
No product is so good that I gotta borrow money
I feel so bad for all these people struggling and they don’t even have to lol
Yes indeed😊
One or two things.... MAYBE.
Thank you so much! I love your non- judgmental approach. Just straight forward, with a good sense of humor. BTW, for a working senior with no debt, older vehicle paid off, large active dog , what % of income should be put towards savings & Emergency fund? Thanks again. 😎🐩❤
Thank you so much for your support!! What a nice gesture :) difficult to say with limited information, however, how many additional working years do you have? Do you have strong retirement funds?
@@itsRomainFaure Thank you for your kind reply. Only $5K sitting frozen in an old 401K account, C.C. Paid off at end of every month, good health. Only about $6K in cash. Probably another 4-5 years left to work. Would like to eventually purchase land for small homestead, work part of the year & travel part time in an RV. Current income is about $3,000/month after tax. Thank you in advance for your help.😎🐩
@Natalie: Since Romain hasn't answered, I wanted to give an idea on how I operate. Almost 59 yrs old, I have a budget, cancelled my newspaper, magazine and cable subscriptions years ago.. Every autum, I check who offers the cheapest electricity, mobile phone, and veh insurance for the next year. I buy the food which is on sale. I cook myself, no take out. So every pay day I fill up my car, go grocery shopping and I try not to spend any more money for at least a full week. I put the same amount in an envelope for the rest of the month (minus any upcoming bills). The rest I push into savings.
I live in Europe and our interest rate for savings is very low. I found a deal at my bank for 3.4% annually and I was ecstatic. Kept an emergency fund in case of a car repair and put the rest (1 yr emergency fund) locked into that savings account, which cannot be touched.
If you plan to buy land and work part time, you need to be more aggressive with savings.
Make a budget with your income and expenses and see what you can save. Look around for how much land would cost on www.zillow.com for example. Then add the camper or RV you want to buy and you will know how much you need. When you have that together, you will still need a buffer for retirement and for upcoming emergencies. Only you know that number. Good luck!!!
I'm only about 24mins in😅I hope he turns it around, the entitlement is killing me...
Tough story :(
23? I thought he was in the early 30’s . He really did have to grow up fast.
I would like to understand why people in the US seem to think a mile, two miles, three miles is so far? I know that they talk about ‘blocks’ and seem to measure it that way but in the UK, a 3 mile walk to the shop, train station, school or whatever is not unreasonable to walk. Is the terrain more complex maybe? Walk to the shop, get the bus home or a taxi is you really need or get a taxi the last mile if it’s that bad bur surly that isn’t unrealistic?
It’s not far, it’s just a car culture and well obesity shows it. I’m guilty of it as well as soon as I got a car I started driving distances I use to walk. I walked because I didn’t have a choice. Laziness mon ami.
Convenience is key! I was astonished to see people waiting for 15 cars at the drive-through when walking inside the food restaurant is empty!
True in the cities like NY people walk miles and miles … my son lives in Seattle and there are tons of hills
Maybe that’s why
In major metropolitan areas like San Francisco, New York, or Dallas, pedestrian accessibilty tends to be a lot better. The cities are more walkable, so people tend to walk most places (although San Francisco hills are incredibly steep and can be challenging to walk if you aren't prepared for it) and only really use public transit as is needed. Those are cities that would be more reminiscent of your thought process as a non-American. However, most mid-sized cities in the US can be downright dangerous and hostile for pedestrians to traverse. It isn't unusual in a mid-sized city to have no pedestrian walkway, incredibly outdated infrastructure, or even have footpaths completely interrupted by overpasses, highways, or other infrastructure meant for cars. Plus, public transit is pretty much nonexistent outside of major US hubs. For example, I live an hour outside of Dallas. If I wanted to walk to the grocery store 2 miles down the road, I would have to take a route that would have a missing pedestrian footpath at certain sections, that is cut off by 2 different 4 lane business highways with no lights, crossing paths, or anything else to signal I needed to get across the road, and would have to detour about half a mile out of the way to avoid the more dangerous path to get there. The closest bus stop is over 40 miles from my home (in Dallas), and if I wanted to take a taxi, I would have to call a taxi service and schedule for a taxi to come to my house at least 2 hours ahead of when I needed them. A lot of Americans thinking a couple miles is a lot to walk, especially outside of major cities, has less to do with laziness and obesity, and more to do with poor pedestrian city planning and our car centric infrastructure. I hope that answers your question.
@@tamikens fair points. The heat too I imagine. I used to have a little grocery cart but I only used it in a walkable city… now I’d have a walk down a busy road with no sidewalk.
Him: "My girl held me down when things were tight, let me sleep on her couch"
Me: "That's really cool, Im glad they have each other. Guessing she's sharing his room, or has a couch at his place?"
Also Him: "So that's why i help her out with her 2k rent payment"
Me: 🤔🤢🤮😵💀
😅
Ouch
How did he get a license at 13? 🤔
He didn't.
So he said that his privilege to get a license was revoked before he became an eligible age to get one, then he said his tickets were for driving on a suspended license? You can’t suspend something that never existed.
Yeah, in some states where I live if you get charged driving underage you get a suspension that will commence when you become old enough to drive. You end up with people turning 18, all their friends driving and then unable to get a licence for 2 years due to something they did when they were 13. They figure stuff it and drive anyway, get caught again cycle continues. In an extreme case I had a client who had never had a valid license and his suspension ended around 2054.
Oh but yes you can. The legal system doesn't always make logical sense.
These videos are so interesting. I really hope he cleans up his finances. I mean nearly 10 pages of transactions is crazy. I get wanting to help out his gf and give her and his family gifts but it does sound excessive. And the weed...
Yep ... that W is expensive!!!
weed is the drug of apathy...it explains everything.
So he gets 60k a year from unemployment assistance, how is that possible?
Even at the max of 800 a week in some states it’s still not 60k.
This is second time I see this on the show and I sincerely think those marijuana possession charges in WA state should be fully forgiven and wiped out from people’s records. It’s ridiculous, seriously.
Yep ... it was the old times.
I see bankruptcy in his future.
🤞hopefully not
@@itsRomainFaure Yeah, it could easily be me, for all I know.
Is it ever a good idea to refinance in order to pay student loans off?
Depends on your current rate, right now I wouldn't refinance anything that is below 5%
With his experience of caring with his mother... He can train to be a nurse or social care which are well paid.
Good points!
Probably not with that criminal record
Vet tech?
He could not be a nurse with a drug record.
Never get high on your own supply… he needs to quit…. Profits go up
He pays 100 an ounce. It must be mid at best. He could also just buy a dry herb vape and get more than double the thc extraction because it isn't combusted. It would pay for itself in no time
Why does such a young man not want to work. Any job is better than having a gap on your CV.
I like him but why doesn't he get a job instead of waiting on unemployment?
Easy money ...
He is too young to be spending all his money on a girlfriend.
He's unemployed and you just cut up his "savings" card. Yikes!
That was his credit card - maxed out…
he's such a cutie. he's young, he will figure it out. i also spend $450 a month on weed dude its ok
Hehe hopefully you do build some savings too haha
100,000 $ubscribers is coming! Before the end of the year.👍🏿👍🏻🕍🕌
🤞🤞🤞