$1,600/Month Car Making $59 Per Day | Finance Action
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- Опубліковано 1 сер 2024
- 🔥 After buying cars that aren't making the cut, he's landed in a financial pinch: a $1,600 monthly car payment, but only $59 daily earnings. Oops!
But don't worry, it's not all gloom and doom. We're going to tackle this problem head-on, turning missteps into lessons and challenges into opportunities. We'll explore strategies for damage control, business reassessment, and smart decision-making. This video isn't just for Turo entrepreneurs or car enthusiasts-it's for anyone navigating their financial journey.
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📺 New to Finance Action? PLAYLIST Start Here- • Finance Action
🕒TIMESTAMPS🕒
0:00 PARTY STARTS
01:15 WHAT THE HECK IS GOING ON?
04:24 INCOME & ASSETS
14:25 EXPENSES & DEBT
30:28 THE MONEY CASE
32:30 WHAT TO DO?
38:26 WILL HE TAKE ACTION?
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Editor: Danica Studioso (www.danicaedits.com/)
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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, turo.
As I watch more of these, I’m realizing how well executed they are. “The Money Case” is an ingenious way to help people visualize how bad the issue really is.
Right on ! Credit cards have made it too easy to forget how much you spend. However when presented with physical $$$, the outlook changes ! Maybe we should rename ourselves to Financial Intervention 😅
As a regular viewer I really appreciate the well-defined separate sections of the video. The Money Case is my favourite, it's really unique!
I always look forward to your comment mate 😀 thanks you for the kind feedback Luncheon
@@itsRomainFaureif ever there was a new channel deserving of success right now it is your channel. So well produced it is a joy to watch the videos😊
Man I wish I was this chill and secure.. my anxiety could never let me relax in this situation
I found that each individual has a different response to their financial situation… as critical as it can be to the eye of a third party
Hello Romain - GREAT advice!
The H.E.L.O.C. is like attaching a credit card to your home - SCARY.
Yes it is! I DON"T LIKE THOSE! Especially when used this way ughhhh
For the love of God,get a job! There is no reason a healthy 30 year old can’t make at least 50k in Seattle.
Valid points !
My exact thought!! He’s literally “chillin” as he puts it. Doesn’t feel any drive to just do whatever it takes…
I wanted to yell at my phone “BRO JUST WORK”
So he is drawing money off his parent's home to live, what is wrong with this generation? What do you want to bet his parents don't understand.
Sounds like he is blaming his parents for missing deal on 1st time home buyer.
Nothing wrong with them but he has parents who coddled him and raised a man who can't be a responsible adult.
Wow just found this channel. I follow another similar fianancial channel. Would love to hear about personal finances in America vs France.
Awesome video suggestion ! I take note of it, could be very interested indeed :)
30 year old able body man and gets food stamps?
I wish he would be more specific about what kind of jobs he's looking for. It doesn't sound like he's applying for "everything".
Yep I am not really sure especially given the amount of time he has been applying for it
Finally catching this during the premier! Every time I watch these videos it makes me glad that I don't own a car and can miraculously get around Los Angeles without one.
Welcome to the Premier 😉 every Tue/Thu at 8 am PST ! LA without a car, impressive haha
The leases will all be above mileage limit, so more to pay at the end.
Very good point as well ! Building an even greater case to get all this out ASAP !
These videos are so entertaining and informative!
Love that! Thank you😊
Ive been thinking of this business and then saw this
This video highlights the experience of one individual, there are many additional factors that you should consider before going in on this. I studied the opportunity myself and decided to pass it, however it could very well work for you 👍
Not the bicycleeeee hahahahah
Hey Romain. Do you have a frenchie dog? Is that why you have a statute of one in your videos?
You are spot on :)
Great job.👌🏾 Great episode!
Thank you for the kind comment Georgina 👍
Agreed! I've enjoyed them all so far. What is that sign off that you say at the end?
Edit: you guys actually generate your own Closed Captions! I didn't expect that but I tried it out.
"A bientôt" is a French phrase I was unfamiliar with. Is "see you soon" a good translation?
Very interesting to see the big swing in Turo-centric business. Can you draw parallels with Airbnb?
Valid insight - Air BnB has also been suffering from quite a swing, and I know many owners who are struggling to fill up their rental properties. In two weeks we will have a video that discusses the Air BnB business and its implications 😉
I hope Michael was able to improve his situation a little bit.🙏🏼 You could tell it was hard for him to give up his dream with the Turo business, but Romain gave him a plan to keep it, but focus on economy cars. In this current economic environment we are in, that's definitely the way to go. I run a business that depends on the travel industry, and I'm noticing a sharp downturn since October, the sharpest I've noticed since covid, and before that, the 2008 crisis.
Helping people to physically see and feel how much money they are losing each month is a great way to accentuate the tough reality of that kind of loss.
It's always sad when you don't get an update from someone.💔. Really hoping that Michael is doing okay🙏🏼
Thank you for sharing your experience, unfortunately I have not heard from Michael since our show :( I am hoping he found his way
@@itsRomainFaure yes, hopefully he did🙏🏼🙏🏼 even if it takes time to implement it, he will always have your good advice as part of his life now🙏🏼🌹
This guy runs his finances like the government, no joke. Playing all kinds of money games, juggling various debts and payments, trying to generate income, engaging in business schemes, etc., he's all over the place.
He might be able to quit claim it back to his parents. I read that if he is not classified as a homeowner for three years, he is may be able to qualify for first-time homeowner loand.🤔
He doesn't have a pot to p*ss" in as the saying goes. Good luck on getting any loan with a bad credit rating and no job.
Robbing Peter to pay Paul is never good for one’s mental health…
Thats how gig companies work they build a business model that they know is unsustainable to show growth to investors then change pricing structure so that what was unsustainable for them becomes unsustainable for their contractors. Uber did this Lyft did this Doordash does this instacart ect, ect. They are fine for a little extra pocket money but nothing more.
I think it really depends - there are a ton of people making a full time salary working with those companies so I wouldn’t generalize entirely, however, I do agree with you that being there at the right time is key!
Oh the meme stocks, I’m with you man😀. I lost quite a bit too😅
I was on Dogecoin too :(
Hello from Spain. Could I ask you what the meme stocks are? Thanks
He needs to get to a tax person as his parents may have a gift tax liability if giving moor than maybe 15k to there son in oe year. please check. there is also missing step up they need a tax person that considers planing. sounds like they may need to reverse some decisions fast if that is possible.
he needs to be charging 149.00 a day for a nice suv.
He tried but no one would rent … especially during the low season in Seattle
This is a great example of the difference between ambition and greed. It’s great to be ambitious and chase a business dream but there is also greed which we saw plenty of when people were buying into these meme stocks
You often only hear about the successful stories of Meme Stocks Traders, but only a few mention how much they lost ! And let me tell you, the very vast majority lost … and lost BIG !
Working on his appearance would help him when applying for jobs.....
Georges st. Pierre! 😂
And with pets, the younger they are, the more likely they will have accidents, such as consuming objects. So I guess that is when you want to start insurance, if you're going to do it.
Everyone of them is "doing great" during the introduction. I'd have long ago taken the gas pipe in these circumstances...
What do you mean? I am confused :)
hope he reported a loss on his tax return.
I am hoping so
When your feeling or wanna be wealthy and wanna show off you will be broke which it happens to a lot of people because wanna pretend to live the high life just look at him by his behavior his actions the way he talks wanna be rich but his not booooooom right there debt.Some people their brains is not fully matured that’s why their facing debt and broke
I understand you take inspiration from other channels but you literally stole the format from financial audit. This is like watching a horrible knockoff version of Financial audit
Thanks for the engagement - I wish you had watched it in full, and maybe you would find how our approach differs.
Caleb stole it from Dave Ramsey, and Ramsey probably stole it from someone else. That’s how it goes. But the solutions these people present differs, that’s where the variety is
I like Caleb Hammer too, but I also enjoy seeing other people's approaches to financial fixes.
Who cares , let him be everyone copies everyone these days . His videos are good and educational.
Size Orman was actually one of the first two bring financial shows like this to the public.