Starting A New Life Together With How Much DEBT?!
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- Опубліковано 10 лип 2024
- 🔥Meet Alisa & Jacob, they are about to start a life and moving in together, but they face a challenge: bad debt and financial mismanagement. This video offers strategies for couples to manage money wisely, tackle debt, and build a stable future together.
🔔Subscribe for more Finance Action: / @itsromainfaure
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🕒TIMESTAMPS🕒
0:00 PARTY STARTS
01:22 WHAT THE HECK IS GOING ON?
06:10 FINANCE UPBRINGING STRATEGY
09:43 INCOME & ASSETS
16:21 MY APPROACH FOR COUPLES
22:20 BAD DEBT DECISION!
27:00 NET WORTH!
30:03 MONEY CASE INTERVENTION
33:12 WHAT CAN THEY DO?
41:31 GOLDEN YEARS INVESTMENT
49:09 COUPLE FUND USAGE
50:37 DID THEY TAKE ACTION?
#financeaction #financialfreedom #itsromainfaure
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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.
This is the best financial audit channel on UA-cam.
Cheers to you Jordan!
Yep. He’s smooth as fresh European butter 🧈.
I do love the production value of his videos and his approach. Very professional, but entertaining.
@@haute03yeah unlike the horny dog Caleb lmao I think the accusations zeke made against him are valid
Race mixing should be illegal. Depor them both back to africa
"what are your assets?"
Her: "i have a dog"
Lol that was cute 😅
That was fun yes hahah
A dog is priceless!❤
@@laughinlori6893indeed
Every couple who is about to move in together, should have a finance talk like this before the move.
Wow I was expecting some copy of Caleb's content, which I love, but honestly I prefer this style so much more. This was so fun to watch and this was my first video that introduced me to your channel.
I love your videos Romain! Looking forward to more. Not only entertaining, but also very informative.
Absolutely enjoyed every second.
I appreciate that you gave me a fair chance!
Agreed, its a very nice combination of entertainment/value.
That couple fund thing. Thats pretty awesome
Worked out excellent for us!
Yes that’s a great idea
I love how you went in a little bit on the French money culture here. Could you do a dedicated video and go into depth with similarities and differences with American and French money habits and practices?
Yes of course, this is on my to-do :)
Glad to see them take the situation seriously and be so positive about their future---and actually taking Romain's advice
They will do excellent :)
Looking forward to this audit! I like that you have guests from different age groups and financial situations, we can all learn something from them. Keep it up!
Thank you! let me know your thoughts :)
I’m rooting for these young couple because they seem very open to suggestions & eager to learn. They also remind me of my son & his fiancé who are same age as them, who are lucky to have only student loan debts.
Nice!!!! Thank you for watching and sharing as always, I look forward to reading your comments :)
I love how their faces are changing when they connect the dots. You are not only helping them but educating 🙏🙏 awesome work!❤
Thank you :) yes they had an excellent vibe to them!
Opened a Roth IRA earlier today, thanks to channels like this! The money actually went into the 2023 account, and I will be maxing out 2024, at $7k from now on! Opened a 529 college savings plan for my kiddo, as well (in 2024 they changed it so if your kid decides to not go to college, it is rolled into a Roth IRA for them). I wish even some of my college was paid for and I wish I knew about Roth IRA’s even if my 20’s… but I pass on all info I get to my kiddo. I will be taking him to see my financial advisor in a couple of years. All of this is thanks to channels like this, The Money Guys, Caleb Hammer and Dave Ramsey!
Don’t forget to choose an investment within the Roth IRA otherwise it’s just a glorified savings account :) I’ve seen lots of people forget that part and lose out big time!
@@Sarah-mc3hw this
Congratulations on taking action! Nicely done!!
Nice job!! Someone else worth listening to is Ramit Seti. He talks to ppl about finances and the psychology behind it. Good stuff, check him out and best wishes to you.
@@Sarah-mc3hwthank you! I invested in a target date retirement thing. (Sorry, I don’t know the actual words, but thank you!)
I love that they asked the right questions and they have so much energy. They are young enough to make a rich life work and by that I mean staying out of debt and knowing how to save. I wish them the best in life.
Cute couple. Good vibes. Will be ok
They are on their way !
@@itsRomainFaure vraiment
Race mixing should be illegal. Depor them both back to africa
They were such a great couple! Great attitudes, willingness to listen, respectful to each other, asked great questions, etc.
Spot on!
@43:00
- So like if I can't use my credit card, how do I buy camera gear?
- With money that's in your bank account.
- Wooooahhhhhh
🙂
Congratulations Alan for being one of the most tenured subscriber!
I like the fact that Romain recommended that the couple track their expenses in the couple fund. I personally practice tracking expenses through a spreadsheet. It has helped me identify where I can cut expenses, financial leaks, and free money.
Just want to say, thank you for your channel and I wish it was around when I was younger. Started investing at 32, but better late than never. Also they seem like such a nice couple.
32 is still young! It is never too late to join the game :)
This young couple will go places .what a sweet couple
I agree with you 🙂
Romain i like that idea of ratio, makes so much sense thanks keep up the awesome job.
I appreciate! Thank you
This was a beautiful and informative audit! Alisa and Jacob are a LOVELY couple, and they are wise to seek and apply Romain's excellent strategies. Working together, they can realize their individual dreams while building an abundant life together. Great episode - everyone in their 20's could HIGHLY benefit from this information. 👍
We agree!
Don’t forget when opening a Roth IRA, you have to choose an investment account within it! Otherwise the money just sits there doing nothing.
Very good point !!
I didn’t skip through the video and actually enjoyed watching and listening.
Welcome on board and thank you for subscribing yesterday :)
What a wholesome episode, I wish them the best!❤
Yes this episode was definietely refreshing!
They are a good-looking couple and they are smart. Romain did great as always! Keep up the good work.
They are on a good path !
I like this couple and they seem open minded to your ideas. 🎉 Love seeing your channel grow! ❤
Thank you - it is thanks to members like you :)
This was really fun to watch. I have high hopes for them, they are seeking help early and they seem to have their head screwed on, talking about these issues early. I wish Alisa and Jacob all the best for their future.
Thank you for the positive thoughts :)
Wishing you all the best as you move forward together. Great advice on this channel. I hope you take it to heart and set yourselves up for the future. I am 61, I deeply regret that I did not start saving for my future earlier. Doing OK, but I could be doing awesome if I had been smart in my 20s.
Life happens, I am glad that you are doing good!
What a great couple!! Such positive energy and they seem willing to take the challenge!! Awesome show!
Thanks so much!! This couple had an excellent vibe to them!
Your content is fantastic! Practical, informative, and no shaming them for where they are at - just helpful advice. Love your work!
Thanks so much!
When my husband and I first moved in together we did the ratio! Glad to see you recommending it! We worked out which expenses were joint and split them based on a ratio of income, then individual expenses (i.e. our own personal mobile phones or individual cars). Now we are married with kids, we have a joint budget still roughly based on ratio, so that we each have our own money to put towards gifts for each other or our own hobbies etc
They are such a sweet couple.
Excellent !
I LOVE the way you put things into perspective with the physical representation of the cash wasted to interest, and then further breaking it down by how many hours worked that have gone to waste. It is sometimes hard to understand how bad your financial situation is because it’s just numbers on a screen for most of us. This is such a great way to look at things for what it really is. Love this channel already and can’t wait to see it continue to grow!
Thank you so much Erica for such kind comment :)
Im so glad you came back to us! Your channel is superior. Wish you had more subs because you deserve it!
Thank you - crossing my fingers :)
Great episode and great advice! This should be a must watch for any young person/couple wanting to learn what to do with their money
Thank you for watching mate !
Excellent episode!
It's interesting to see how we rate ourselves versus the reality of life.
So glad that Romain has blessed us with a new EXCITING episode 🎉
Haha you are too nice :)
Hope you liked it :)
This episode was a fun one to watch, this couple is adorable, young & smart! I hope they do well in life together!! ❤
Thank you for trusting me with your time! Yes this was a positive episode for sure :)
There is a thing like furniture financing?! Gosh, I'm so happy to be born in Europe 😅 I wish the couple best of luck :)
You made my point :)
I love the analytical approach.
I appreciate :) Thank you!
Thank you for the video!
My pleasure as always :)
My favorite financial audit channel!
Love to hear that :)
much more polished finance channel. especially financial audit. respect
I appreciate, Thank you!
This was really informative 👏🏽👏🏽
Love to hear that!
Absolutely wonderful and insightful episode Romain 👏👏
I am happy you enjoyed it 😊
You gave this young couple very good advice.👍🇨🇦
I appreciate you kind comment! Thank you
Language degree can be a good one if you choose your language pair wisely and apply it towards translation/localization or even machine learning.
Romain you are an amazing interviewer.. plus a foreigner (i am assuming you are French) who speaks perfect English.. you are made for television/youtube! keep it up.. keep going with your channel.. i enjoy all your videos.
Wow, thank you!
Your video production keeps getting better. This was a really good one. Thanks
LOVE to hear that, I really try my best to invest into the viewer experience! Thank you :)
❤Cute couple. Looking forward to the update.❤
Did you check the one at the end of the video? :)
These two are so sweet
Aww, i love the way they look at another.
Strong couple!
Everybody take a drink when Romain talks about his doggo eating plastic 😂
(I'm a proud dog insurance policy holder so I get it)
Hahaha I should stop telling the story now ! :)
Great on pet insurance!
Just a thought Romain. I agree that rent, utilities and food should be from the couple fund. However I think each individual should pay their own car bills, insurance, phone, debt payments. Unfortunately with this guy's car stuff his partner is subsidising his poor choices here if they are part of the couple fund.
I completely agree with that - each individual expense would remain their own
@@itsRomainFaure ok sorry if I misinterpreted that section of the video as I thought you put all the car stuff into their couple fund (payment, insurance, gas)
Dude's car is basically a credit card debt holy smokes. I don't know why he even kept the car lol. And then that horrible insurance payment too.
I really liked how you broke down how they should split their expenses proportionately. I've seen so many posts on reddit about men who make significantly more money than their girlfriends or wives but refuse to pay more for bills. Their partners basically have no money for themselves and are struggling to uphold a household they simply can't afford. On top of that they hardly have any money for fun while their boyfriend/husband spends hundreds if not thousands on their hobbies and taking trips. But anyways that couple's fund is a great idea.
Yes exactly! I always strive for fairness, and in this case, I believe a couple fund ratio is the best for both parties
i enjoyed their positivity.
Right on! This episode was very positive!
Im like five minutes in and wow the way he looks at her❤ what a sweet couple, i wish them the best of luck!
Thank you for the positive thoughts!
I know! so cute
Great episode, Romain! I liked their positive attitude, and since they are still pretty young at 23 years old, if they successfully take your advice and just start learning to get control of their budget, they will be miles ahead of most other 23 year olds! And they will be SO GLAD 40 years down the road when they can retire comfortably with their early start on saving/investing in their Roth IRA's. (I wish I had started saving when I was in my 20's!)
I hope you are doing good now :) and yes I predict this couple will be financially strong!
Great video! I hope they succeed
Yes I am hoping too, I have a good feeling for them!
here comes the you’re better than caleb comments
Everyone also says “whoa it’s a horse” when they see a Great Dane.
I watch both of them! And the money guys and Dave Ramsey. I don’t think it’s a competition, I think they compliment each other and I feel I get a balanced view of finances watching all 4!
I can't stand Caleb.🎉🎉
He's turned into a "kid" entertainment. Here, adults talking and exploring the reasons for debt and finding a solution
I LOVED Caleb's videos, but the recent videos with streamers and only fans girls is SO boring financially and is all drama. I'm over it.
Very smart video. Also, love the accent, my friend
Cheers to you
What a nice young couple ❤ i wish them all the best as they merge lives
Thank you Tammy 😊
Don't need to keep a balance to build credit. Utilization is recalculated every period.
Correct you would pay in full every month no matter what!
Correct balance should be paid in full every month!
Nice couple.
Yes they are😊
They really shouldn't be combining any accounts or even living together until they get their finances right individually. This will also give them more time to get to know each other better. 1 year is not long enough to really know someone.
Financials aside, cute couple who seem to stick up for each other. Can’t go wrong with that.
30:30 This is $100 in all ones....😂😂😂
Aie aie aie :)
The amount of interest he owes a year is the same as the monthly interest amount for some people I know. I think they need to tighten up but they seem like they are level headed and will be ok
I totally agree with Romain: If you’re not going to get married; you shouldn’t be living together. And getting married you shouldn’t be splitting bills. Youre basically sitting yourself up to be single again.
I do recommend living with the person before getting married though, but again that is my personal opinion :)
The best advice I could give to young people is; to make their financial goal is to pay off their debt and save at least $100,000.00 dollars before making any major life decisions.
Yet that is unrealistic for most people.
@@kujjitafari8509 why?
Question - when factoring income ratios. Is this before or after taxes? And if after taxes, does that include HSA and 401k contributions?
Lets say I max my 401k and HSA, which is $20k something. If my income is 80k and his 60k (and he doesn't put anything towards his 401k/HSA, he does but lets pretend) and now with 20k in 401k/hsa, my salary would now be 60k. The same salary before additional taxes.
Can you please clarify this in a video? 😊
This is weird. I guess it is a camera issue? Alisa is clear and in focus, but Jacob is blurry.
Working on it ... :)
Maybe reduce the weed consumption?? That would help him pay down his high interest loan and also improve his health
It is up to them on how they want to manage their WANTS
Since I’m in my 40’s, there’s probably no hope for me but I don’t have debt on credit cards or auto.
You have 15-20 more years before retirement. Invest and save now, you will be better off than if you don’t.
I'm here 😃🙋♀️🍿
Hey you :)
@@itsRomainFaure Greetings from Vero Beach, FL 🏖
@@catalinavacio7973 Lovely :)
10/10 this man knows how to care for a flf. Iykyk
what is the best credit card for cash back on groceries? is there a yearly fee?
Yes there is :( it is the American Express Cash Preferred
@@itsRomainFaurethanks! I'll check it out to see if it's worth it for me
For the car…. Oh it matters alright 😂
Yep … sell that soon :)
That’s crazy to have a higher car loan interest rate than credit card interest rate.
Yes some of those loans can but very high up! The highest I have seen on a car is 42%
It should be illegal to go that high !
I’m here because I love financial audits BUT CalebH is a SICKO! Sooo As long as you keep it PG I’ll be here!
Sell BMW. Buy a beater Honda with no collision insurance.
Why no collision?
@@itsRomainFaure because if you wreck your beater you just buy a new one. And you don't fix the minor dings.
Ong they are so cute
You have a girlfriend nooooo 😭
ahhh, to be young and stupid just like I was.
These people smile too.much - open-mouthed smiles - and it's kind of strange and EERIE.
He is making fecking excuses, during the strike he could of worked at Walmart or mc Donald's or something for 20 something a hour, so he doesn't fall into collections, he was just trying to live off his saving and be lazy and do nothing at home!
ugh hate his hair, too weird
Don't yuck his yum.
Good thing no one asked.
What a tacky comment.
What an awful and useless comment
shut yo lame ass up
How absolutely adorable is Jacob.. the way he smiles and nods along as she speaks. Love it ❤
Great video. Beautiful and smart couple. They'll go far!
Thank you for your positive comment - I agree with your assessment :)