I'm in £21k Debt. Should I Invest in Crypto to Become Debt-Free Quickly?
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- Опубліковано 10 чер 2024
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I'm in £21k Debt. Should I Invest in Crypto to Become Debt-Free Quickly? - Навчання та стиль
You guys asked for phone-ins, so we're making it happen! 😀. This is an example to see how it might work. If you want more, comment "MORE" below ⬇. Want to Phone in? Call us on (+44) 07362590242 (Mondays ONLY from 1pm to 2pm BST). We don't offer Financial Advice!!! One Call Per Person ONLY. Hope you enjoyed this first call :).
Sis is LIVING wayyyyy beyond her means. Immediate cut is hair • nails • holidays • gym • going out with friends/eating out
I don't think she should cut cause that is not realistic -it depends on her lifestyle - but she should reduce and look for cheaper options so that she doesn't feel deprived. Appearance and grooming are essential to many women, so telling someone to stop with hair and nails is not it. Also, when people hear the word budget, it just makes you feel worse. Maybe a spending strategy will be better cause at least she can keep things to make her happy whilst clearing debt
This is giving Dave Ramsey vibes... I love it! A longer phone-in show every week or month would be awesome!
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100% keep this format 🙌🏾
Budgeting is underrated but it is very important, and sticking with your budget is even more important.
💯
The complete answer is a simple two letter word.
😂🤣
Poverty is contagious.
I like this format Ken. 1k to 100k you know 😂😂😂
lol. Glad you like the format. Details are in the pinned comment and descriptions to phone in on Mondays.
Charlene sounds exactly like Ken’s wife. Safe fam!
Lol 😆. Yes, this is an example using a submitted written dilemma that we received. See it as a test basically just to see how this might work if we did phone-ins.
Safe safe, great effort 😂😂😂
More please - defo U.K. version of Dave Ramsey, love learning about finances and how people are managing their money 😊
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Definitely "more" of this. 👍🏾
More to come!
Really Ambitious to get 100k from 1k. I’m a crypto investor and the profit gain doesn’t work like that
Get that 1k up too 2k then invest the 1k into crypto win win in my eyes 👀
If I was in that amount of debt my head would be spinning and I wouldn’t be able to sleep at night
Thank you very much big man. You always make sense.
👊🏾
When I had credit card debt in the 80s I worked two jobs and had no recreation and very little free time, but my determination to free myself of this curse was so powerful, getting rid of it was all I wanted to do. Thank God I've never touched debt outside of a mortgage since. 🙏🏾🙏🏾
That 100x crypto coin will have you chasing ice cream dreams. It happens, but it's rare and a matter of luck. You're essentially gambling that money. Sound advice Ken.
The thing is, even you were to invest that 1000 into crypto and it garnered a 100k (79k after debt is cleared then minus income tax on top of that). The lifestyle habits currently in place will likely have you blow through that money fast. You end up buying a bigger or better car, better holiday or spend more on the things you want with the lump sum etc..we are creatures of habits, to control the creature (being us) we must control.and manage our habits.
Doing things the way Ken has suggested doesnt get you "rich quick ", but it builds good habits, discipline and attributes of an individual that can manage money which is priceless in this age and probably any other age to come lol. Once locked in, these attributes can stay with you forever as you build and grow and be passed down or directly to loved ones.
21k in debt and people are telling her to invest in Crypto... thank God she called in. Her problems are all behavioural and it sounds like she needs to be around some good influences. Personally I'd consolidate the debt and use the 1K to pay down as much as I can.
Respectfully and i hope to not come across as a bore of sorts or weird but holidays as she spoke of is such a norm for some guys and girls and these happening abroad and all the costs to go with it and there may be a trend aspect feeding and motivating the group holiday in and of itself. My thing is to have equally similar fun though not as intriguing, it could be possible to pull off a much less costly UK get away or holiday whilst saving money. Ideas ..a cheaper substitute could work
What do you think about FPS coin??😊😊😊😊
I'm curious. Was this a question anyone actually asked?
Yes. A submitted dilemma.
This is like asking if you should invest 1k in penny stocks. The pain of losing 1k is a lot more than the glee of making an additional 1k
Can I pay a lump sum to knock down my upstanding mortgage balance during remortgage without any penalty?
Yes, absolutely.
How much money do you need in the bank to invest 1k in crypto?? 🤔
Eeeeerm.... no
is that what she's thinking about to invest her last one thousand pounds in crypto?
she aint going to listen to the advice
Lol 😆