$200,000 In Debt and Live Paycheck-to-Paycheck, Can I Be Debt Free?
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- Опубліковано 8 вер 2024
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Being debt free feels way better than making payments on a shiny car in the driveway. I got debt free two years ago and will never go back.
Driving a shiny new car.....feels better than driving a hoopty and saying I have no debt.
@@rayjgold hahaha
@@rayjgold naw having money feels better than a shiny new car that you cannot afford
Well done. You're right: it's about the *feeling*. Never underestimate the power of psychology!
@@rayjgold if you're weak minded
We need more of these calls from the everyday American problem and less of the calls where the person is calling to flex their income and is asking Dave what color Yacht he should buy. This call spoke to the majority with the same problem. Great stuff.
It blows my mind that people call in to flex on an anonymous phone call... lol.
Exactly... the calls where they're 300k in debt but are doctors making 300k a year are just that, people boasting their income
The problem is that almost nobody listens to the radio anymore, so there aren't a lot of people discovering the show randomly.
@@frankvonfrauner Maybe not, but once posted on youtube, the number of " listeners" per episode skyrockets as the rest of the world listens in.
This poor man has to break a multi generational issue. This is going to be unpleasant if he does it right, but worth it for the next generation to see a good example.
🎄🎄👆Heyyyyy text for your proper mentorship And tips for business,,..*, ,,.,...#....
yeah their income is decent enough that they could get out of debt eventually but its going to be a long struggle. they'd be lucky to retire with no debt and 1m in investments, and thats dependent on how old they are. its hard to tell from a voice but that dude sounds like he is probably already in his 50's or 60's, and if thats true that situation isnt looking good. if he is age 20 its a different story but i highly doubt he is that young.
He has a truck but unless he's in construction, does he need a truck ? How about getting a used Toyota corolla for 8k.
Or is it because everyone else has truck, he has to have one also
@@scotttracy9333 yeah if he isnt hauling trailers or truck beds full of cargo a truck isnt needed. there are cheap trucks though but generally yeah something like a 10k toyota or honda is a good option for most people. its so cringey seeing the people in my town who have an income of 40k a year and drive a 40-50k truck and are still renting an apartment. buying expensive things to show off to random people is such a toxic trait and is a major reason why so many people are broke or drowning in debt.
Very true. Breaking generational curses is super unpleasant but well worth it
Wow $100k in student loans and making $75k gross. 🥺. Bought a new truck 🤯.
Too many of us have to conditioned to believe that debt is a part of life. It doesn't have to be, though.
@@FiveBoroNative Who can we blame for this? My parents taught me the value of money.
The new American dream is car payments and student loans. Remember, nightmares are dreams too.
@@darex0827 Funny... cause America has been living that dream all my life.
apparently going to college didnt make him or his wife any smarter...
what a joke student loan debt is unless its a high ROI career like a doctor or engineer.
Debt free is like getting a pay raise.
That $200 to $2000 a month you are paying in CC interest could be going into your lifestyle or retirement instead of to the CC co profit.
Similar with the interest you are paying on your car loan.
The average car loan you pay 2X as much for the car due to interest. You could buy another car with just the interest savings by paying cash.
👆👆 Thank"s for watching❤..
The problem here u can't save easy in us
@@elondmv976 Bull! You can. Many won't because they have no money skills and think they need to live like a rock star. You can live without a lot of things, if you want. And that is the crux, if you want.
@@elondmv976 I'm in the USA...
It's 100% your attitude about money.
Yep, I was doing similar calculations in my head when I realised that f I did not have debt, I could save faster to get some things that I really want.
Can you be debt free? … YES YOU CAN … my wife and I made it … Ifs not easy … Dave ‘s “beans and rice, rice and beans” is about sacrifice, and it’s true … but as we were in it we could see the snowball start to roll, and the more it rolled the more excited we got … beans and rice started to taste really good 😀
You can spice up Ramen noodles pretty well 😆
“Kenny, call us back when you’re debt free!”
What a way to end that call! Lol
I love this caller. So happy to hear someone open to learning and changing their lifestyle and being debt free. Good luck to you and your family sir.
Sell the car
Sell the wife
Rice & beans till 65
No Vacations either !
Nice rhyme 😄
Sell the kids
I wish there were more Dave-only episodes.
🎄🎄👆👆Heyyyyy text for your proper mentorship And tips for business,,..*, ,,.,...#..
I love Dave, but lately I’ve been liking George’s input
Became debt free because of Dave’s advice only but sadly I stopped listening consistently because of the other co hosts, I mean I get it Dave won’t be here forever but they really ruined this show for me.
@@sssssssssssss5085 how though? George is hilarious, I was getting tired of hearing Dave all the time, it’s the opposite for me, George really made this channel better
The yes men are annoying. Why have someone there that cant disagree but will only say what they think Dave would.....just not as good as Dave would.
How many times we have listened to people with good incomes but that just dont know how to treat money, i like to say i was one of them.
Dave and George make the best team
🎄🎄👆👆Heyyyyy text for your proper mentorship And tips for business,,..*, ,,.,...#..
Couldn't agree more. The Kamelonator and Dave
An here I am…. A complete stress ball over my $21000 debt I’m trying to get out the way..
That's roughly the same level of debt I have, and it keeps me up at night. But that is the right reaction to debt. I often wonder whethether, if I had a higher income, I would be as committed to getting out of debt as I am right now.
I paid off $90K of debt. You can do it, Kenny.
$50k new truck Jesus Christ.
the truck is 35k that they just bought. 50k is the total auto debt for both vehicles
Sell everything that’s not tied down. Use that money to get that snowball rolling. Cut monthly expenses where you can. That means streaming services, eating out, cable, internet if you don’t need it to do your job, shop around for cheaper insurance, shop your cell phone service for a better deal, etc. Work overtime and dump it all into the snowball. Downsize vehicles if it doesn’t mean taking big upside down losses. These guys will be just fine after they buckle down and get through the uncomfortable part.
I laughed out loud when he said “new truck”.
My truck is a 2003 Ford Escape. It's paid for and it still runs and drives
George Kamel is the future face of Ramsey! When Dave's ready he can retire knowing the right people are on the team to continue the legacy.
Show won’t be the same when Dave is gone.
This is not a money problem, it's a generational behavior problem.
This person did not sound so young. So I would have to disagree.
It's both.
And how do you suggest they fix it?
Good sht just started watching... So true
🎄🎄👆👆Heyyyyy text for your proper mentorship And tips for business,,..*, ,,.,...#..
It's not rocket science to be debt free...
Agreed, but for many, it's harder than rocket science.
It's rocket science discipline
Actually it is when you make $70 and are in debt of well over 150K and you go out and buy a $50k truck. Now you need rocket science.
My husband refused to combine our income when he made more money than me 20 years ago. Now I make more money than him and he still refuses to combine our income. I pay my tithes and God keeps blessing my income. 🙏🏽
How is that working for you guys? How are you getting ahead from a financial perspective?
Gets the 5k truck for work and breaks down on him on his way to work, and now he has another expense. And if he’s not mechanically inclined? Well now he has to shop around for a mechanic and parts
He's got a great voice! Perhaps he could consider voice acting on the side.
🎄🎄👆👆Heyyyyy text for your proper mentorship And tips for business,,..*, ,,.,...#..
No he cannot Stop lying dude sounded like he was talking underwater
@@auroramothergoddess perhaps he can play a fish then
Their debt snowball is going to take a long time, so hopefully they do sell the truck to kick start the process.
Raise your hand if you said "new truck" before Kenny did lol
George is really stepping into his own. You can tell Dave is grooming him to be his replacement.
🎄🎄👆👆Heyyyyy text for your proper mentorship And tips for business,,..*, ,,.,...#..
Even with the folding of the arms lol
No he is not grooming for replacement, helping him to be better, all he can be. Replacement will be Rachel (Ramsey) Cruze.
@@evad6220 She's a lightweight.
George needs about 40 yrs of experience in actual business to be able to step into Dave's shoes. He does not have the experience in managing people to understand their psychology. He doesn't understand tax law, retirement, real estate law, etc, and it has shown many times in his answers. I would never listen to a George-only show that had him just parroting Dave's principles like any one who has listened to Dave for a couple years could do.
Unless he's in construction or something does he need a truck ? How about selling it and getting a $8k used Toyota corolla?
I need financial peace...
Yes, just live like a peasant and put all your $ into the debt until cancelled
👆👆👆 Thank"s for watching❤...
I am almost out of debt with daughter car I am happy to say both of my kids are saving money wow it’s so nice to see they both and doing Dave following I change my family tree god is good
I've watched so many videos of these I swear I know the advice before Dave says it lol
Dave says George is gonna guide him through, but then he ends up going through it himself.
Finally debt free but it took us 10 years because we fell off the wagon. LoL stick with it and it will work.
I can relate...I am getting there slowly...
life happen...was on track to have ducks in a row by 62...only child and both my elderly parents became ill. It was my pleasure to take care of them both until they passed. Yes, at times I could only work parttime and times I had to fully take care of them and not work...I live modestly and slowly paying debts off but taking care of my parents was priceless
@@RB-gt8bf Sorry for your loss, but I am sure they would be proud of having such a caring and loyal child!
It’s going to take them at least 20 years.
The question should really be, can I really live off of my retirement earnings by just saving/investing each month?
👆👆👆 Thank"s for watching❤..
It all should be about budget, is the money in the bank account for the items we need or not , if someone go to buy something today what makes them think they will have it later when the bill comes. Just like what our parents and grandparents used to say don’t live beyond your mean’s!
why do people tell gross income rather than net income? its such an irrelevant number in most cases unless you're talking about a pre tax retirement account. it just seems odd to say gross then make whoever (like dave) have to estimate what your net income is.
Exactly just say you make 55k and move on lol
I'm only 20k in debt and live paycheck to paycheck...
I would totally address the parents' need to be supported first. Examine that before selling your truck. That could be the problem. Good luck!
Wow Dave gave the guy the business as much as you can without using a swear word, lol.
It may have been addressed before but I have a problem with George saying 'wow' when people tell what their debt is. I don't think he means it to be cruel in any way but it comes off judgmental and one of Dave's strengths is never judging people out of the gate like that. People call in here often at their lowest point and the 'wow' is unnecessary. They know it's bad. We know it's bad.
I wish I had a new truck that I could sell to clean up a big chunk of my debt.
Ramsey, me and mine could use that - i've attempted to discuss why singular budgeting is important, to no avail. If you have a link or are able to assist in getting a copy, that would be amazing. Already own your previously mentioned books, thx
We married in 1972. I read everything I could on frugal living. Two of my kids are very careful with money. My daughter isn't as bad as the people who call
you, but she could do better. Tina, Al's wife
One of the most prototypical ramsey episodes lol
I love how people think its realistic to be debt free 😂😂😂. Its not. Debt is way of life bc people dont make enough. Monium wage shoukd be making $20 /an hour. The little guy can never get ahead. Govt HAS to do something.
I couldn't imagine what kind of gall it takes to be such a burden on your own kids.
What does it mean when you paint one finger nail?
i need a co-host that will disagree with Dave sometimes..... These yes men arent doing it for me. Im available.....give me a spot.
Agreed 👍
You can do this !!!! 💪✔❤🎉
Spend less. Duh.
Buy a 50k car and you have $150 in consumer debt. Good Grief.
👆👆👆 Thank"s for watching❤...
35k
Always great content. See you guys soon in Orlando, FL
This is why I love Dave. Bring back Chris
🤣🤣
We have an opportunity here to learn from the mistakes of the past.
Lol
How ironic are the new car advertisements during Dave's show... preying on people trying to change their lives and habits.
Praying or preying?
@@DoctorSmartyPants Praying that they fall for it.. haha fixed.
Sell the car and buy a push scooter!
Mom and Dad had the same 24 hours in a day as you. Can’t have them destroying your life.
I missed the logic of going in to debt to support other broke people who don't save and live beyond their means.
This is a sinking ship…. New truck?… sounds like a southern hillbilly mommas boy who can’t do math. Is he a contractor that needs the truck for work? I am guessing no but he didn’t say.
Cola, SC!
Wait he said sell your truck how can you do that if your financing it? He didn't ask if he owned it or a lein on it? Just not that easy...
you can sell it if you are financing it and use the money to pay it off that is a thing you know
Caller said he owned 50k on a truck. Therefore, he does not own it outright. There is a lien on it.
Isn't a mortgage considered debt?
good debt to be honest as you can make a profit from it
Yes, but it is separated out due to how the baby steps work.
New Truck....
You can't because y are in the USA.
They didnt want to deal with this because it was real
Lots of red states listening to Ramsey, not impressed.
this is why broke people stay broke. Make 75K a year, barely live paycheck to paycheck...buy a 40-50K pick up truck
i wish i could have that income right now it would put me at decent income
Wow George Camel is a joke
👆👆👆 Thank"s for watching❤...
Did Dave use the F word at 4:49? 😳
“Full freaking enchilada”
Wow. He's got too much money!
It sounds more like the F word to me. I've listened to it a few times now
@@jeffb.4800 lol get your crusties out that ear ahaha
@@jeffb.4800 "freaking"
I bet this guy has a $50K+ truck. Student loans???!!! This guy does not sound so smart. $50K IN DEBT for a car/truck!!! I KNEW IT!!!! NEW TRUCK... I knew it!!!! This guy needs to live BELOW HIS MEANS, until he does this.... he will be living pay check to pay check for the rest of his life. And how much is he saving for retirement... NOTHING. This is someone who needs to keep up with the Jones.
🎄🎄👆👆Heyyyyy text for your proper mentorship And tips for business,,..*, ,,.,...#..
I mean technically that truck follows Dave's rule of 50% of your income on things that have wheels or float.
@@nsant Not if you have that kind of debt.
dude listen. the truck was 35k
🤓✌👍🖖👌😎
🎄🎄👆Heyyyyy text for your proper mentorship And tips for business,,..*, ,,.,...#....