@@o0usf0o A lot of that is interest accrual, that is the problem. When you graduate the monthly payment you pay should be paying your loan down but the issues are with the compounding interest that your payment doesn't even cover and some are worse than others. This is predatory and vicious and this I think is what needs to be taken out of Student Loans. Graduating with 100K of loans should not yield a higher loan balance 10 years later after making all the payments correct and on time. Ramsey's should try talking about this elephant in the room not just telling people, simply pay it off as soon as you can as most cannot this is the reality and must be addressed. They need to address the other issues as well as the system is not going to change and people will always need loans to go to school. Its one thing not to pay it and it hits you but the majority are paying and simply cannot get their balances down.
Dude! I know 65 year olds paying off student loans! These are people who got a masters degree in their 50’s. Ya know that Presidential candidate Cornell West, 70 years old, recently cited his “student loans “as a major factor in his money troubles. These people are insane.
That's the problem. People treat student loan debt like it's optional or low priority, you know, like someone at the White House will magically remove it someday.
Yeah very true, if you’re gonna do college do something that is marketable and actually work, it sounds like she started and never finished, such a waste of time
Many people who f started before and finished after 2008 graduated in a different world. Suddenly people with diploma didn't find a job that they studied for
I’m from the same area as her. I’ll almost guarantee you she didn’t attend the University of Louisville to rack up that kind of debt- especially in 2009. My son graduated from U of L in 2016 and the tuition wasn’t at that kind of level to accumulate over $100K in debt. I’ll bet she went to one of the area private universities for her degree and paid through the nose for a useless piece of paper.
She married an Uber driver and he married a woman with $100 in student loans making $30k. Two clueless people who undoubtedly going to be broke in retirement. Sad.
Somehow they found each other 😉 this is a good example law of attraction, right 😉 I hope they figure the issue out. They need a financial advisor. I see a business opportunity here
Dave's reaction when she just causally mentioned (she wasn't going to mention it otherwise) that she has $110,000 in student loan debt got me laughing. She calls in saying the problem is her husbands 22 credit cards with $18,000 balance (and that is a big problem), but somehow having 6 TIMES that amount in debt is something we can ignore for the moment?
@@politcallycorrect5816 maybe… I do know people from when I went to college who bought home entertainment systems and motorcycles with private student loans
@@xavil6341 I think mentioning the joblessness is an appropriate inclusion to address relationship compatibility (shared goals and lifestyle). Unfortunately, the caller doesn’t recognize that she actually did choose someone who matches her fundamental financial standards.
18k on 22 credit cards can be cleaned up pretty quickly by getting organized. It's the 110k in student loan debt making 33k that's going to be challenging. I would be defensive as well if I was the husband. Why are you worried about my little 18k in cc debt when you owe a 100k+ in your mid 40s on a student loan. They got to get on the same page.
She can always get a higher paying job he obviously is a loser forever If she is 46 how old is he Why diminish his debt and go hard on her She at least has some substance to build on he doesn't
@@ykook7000 lol they both suck. She is 46 with 6 figure student loan debt making nothing, and he’s a 50 year old door dasher who doesn’t want a real job. They deserve each other
@@ykook7000 Her degree is WORTHLESS if she's not wanting to use it. And after 15 years out of the market, it will be EXTREMELY hard for her to get into anything in that profession even if she wanted. So yeah, her debt is MUCH worse than his.
@@ykook7000 If it's that easy, why doesn't she get a higher paying job? She is not exactly a spring chicken. We don't know if the degree is even relevant. An unused degree is normally considered outdated if one has not been employed in ones field for 5+ years. She is only making roughly half of the median salary for her age group, and is $100K plus in the hole. Who is the loser here.
$110,000 for a bachelor's degree? These people have so many obviously bad decisions in their lives. It's hard to believe they need to talk to Dave about their situation.
I don't feel bad for her. She just married this guy and did zero checks prior. The dude hardly works. He has 22 credit cards. He won't get a real job. She is an adult and she made this decision. She borrowed 110K for student loans and doesn't use it at all. The bad decisions have to stop.
The guy is making $1200 a week, if he's tracking his miles he will be paying negligible taxes , with 52 weeks a year, he will be pulling in about 60k per year, the guy is doing ok and making twice what she makes, as long as he can continue to work he is not the problem
Why does nobody ever address the issue of people racking up 6-figure student loan debt on degrees that lead to careers with low pay and minimal opportunities for advancement?
Yep, the problem is many degrees aren't meant to be terminal degrees, but foundational degrees to lead into further education, like law school or a Masters.
@@greggpurviance7252 Yeah, I agree, but potential students should at least do an ROI analysis. The cost of obtaining any 4-year degree from a specific university is virtually identical. Yet, you can get a degree that lands you a job earning a median starting salary of around $80K with high income growth potential (e.g., chemical engineering or computer science), or you could get a degree that would land you a job earning a median starting salary around $40K with low income growth potential (e.g., psychology or social services).
@@ykook7000 just a comment on fault. When there are government backed loans, there is serious inflation and management bloat. That being said, the government doesn't sign up for that loan. No one has to do a buy in to the disaster. That's on the student & parents.
Was out of work for a while because things slowed down at my job. We got down to 2 months savings then my car got totaled because someone ran a red light and hit me. And of course she had no insurance. Thankfully I have uninsured motorists. We bought a $1500 beater for now because we want to get a better car than what the payout will get. I quit my job for a new one. Started at $25 an hour. Trying to save emergency funds back up and need a new car. But was just glad we didn’t plunge into debt.
Or has a criminal record. Nowadays that's career suicide as far as a W-2 job is concerned. I wish they would inform high school students just how much it counts against them.
My ex had about 20 credit cards in my name and it took me an additional 10 years after our divorce, to pay all them off. He maxed them all out. It was rough. However, my 2nd husband and I have been married 10 years and are completely debt free including our house is paid for and no vehicle loans whatsoever, zero debt. We are living well. 😅
Girl I would have been owning BAIL AND A LAWYER 😅. There are somethings I can overlook... but THAT amount?! You're a better woman than me and you have an AWESOME husband....he got a brother? 😂
Her:Look at his $18K and 22 credit cards!!! What's your debt? Her:$110K in student loan debt. With that income, why not work in the public sector. Would've probably had a pension as well.
"doesn't like working for someone else". This guy thinks he has all the answers and is probably uncoachable. Sounds very stubborn and committed to his ways
That isn't the problem he married someone with 110 thousand in student debt is moronic. She should have been nothing more than a side chick or girlfriend at best. He isn't the problem she is under working for decades.
@@chattingman6777 I did actually write that comment a bit early before I found out she was 100k in debt for psychology. I honestly feel like her part is probably worse!
Why? Not everyone likes to say yay boss. In light of cronyism, do you know how common it is for people to work for incompetent bosses, who makes their lives hell on earth?
In general, this is a reminder for all of us to stay away from credit cards and bank loans. Use to have a mortgage. Now I live mortgage free for 4 years already, and I tell you that feels awesome❤❤ find a way to get rid of the mortgage asap. Half of my income was going to the bank :( and I was fed up with that and took action. I wish everybody the same and debt free in you lives.
@@cindymann3673Speaking as a recent Psychology graduate, they do not give a fuck about that degree unless you are going into counseling or therapy. So the hard skills you gain from research assistantships and mental health care positions are ultimately the biggest benefit
I love how people survey the job market in the area they apparently want to live in, AFTER going to college and acquiring the debt. Oh there’s just no jobs for this. I guarantee you somebody could give her the masters degree and she still wouldn’t have a job doing what she went to school for. In the end not going to college has value compared to this. You can’t afford to lose if the career doesn’t come with it. I swear college is sold to people as a false hope in the future. Funded with government backed loans that private banks wouldn’t give out in a million years.
Underachieving is a personality trait. And yes my college roommate never looked into what jobs with her degree would pay before she was about to graduate. I researched that before I chose my computer science major.
@@lynnebucher6537 Exactly same. Wife and both have finance and accounting degrees largely because they aren't terribly difficult and pay well with just bachelor. With annual merit increase and even a few promotions most make 6 figures by 40's and can easily be double that Degree you chose has even better opportunities. Basically never Incur any debt (particularly kind you cannot absolve in bankruptcy) without incredibly high expected returns. Folks like her doing exactly opposite is insanity.
When I returned to college in my 50s, I started in the Placement Office. What jobs are in this area that match my interests/abilities?? I gathered names of local alumni, scheduled job shadowing times, and stayed in touch for a good reference on my resume.
Why are we shaming the husband's choice of work when he makes almost $60k a year with $18k debt. The wife makes $33k with $110k of student loans! Car maintenance would not be nearly as much $60k 🙄. He needs to pay off those credit cards in a year. She needs to start doing some Doordash to bring in more income!
@thomaspiscitello7330 He would have car insurance expense whether he drove for doordash or not so that's a nonitial and your numbers are way off concerning the amount of gas. And wear and chair on the vehicle . You're also not taking in consideration tax rate offs.
The $18,000 debt doesn’t stand out to me as the biggest problem, although it’s bad. Getting $110K in student loan debt and only making $33K a year is bad. Marrying a loser husband who doesn’t have a job is problem. Having 22 credit cards is ridiculous.
Disagree - Ratio wise, he can get an entry level job for $10-15/hr and his debt is about 50% his gross annual income Her debt is 330% of her annual income Math can be twisted any way you want, but when you use it fairly for evaluation, she is the bigger issue
@@zybard01Here's how it works. The man always has to take responsibility and is always the loser. The woman never has to take responsibility and is a victim because the man whom she chose is not living up to expectations
@@e.goldstein1972 Wrongo. As a woman degreed in advanced technology back in the 80s (I designed your compilers and OSs), I ran circles around my ‘peers,’ most of whom were ‘men.’ My husband, whom followed in my footsteps, found himself time and again out of work (he had ‘authority’ problems). I paid every bill and then some, and we saved gobs of money on my income alone. After 10 years, he was so emasculated he cried mother and ‘decathected,’ as Scott Peck would say. In the decades since, I’ve thrived as he’s foundered. So much for a penis.
@@americafirst9144 Yes on new cars and credit cards. I need Dave Ramsey ... but thankfully do not owe as much and have more income without a 100k student loan. That still does not make my actions mature
He was making $1200 a week driving uber. She makes $33k a year and has over $100k in debt. Makes me wonder if she married him for a place to stay.@@alicef128
Noooooo you cannot hold women responsible for their poor choices in partners!!! It’s all a big surprise to them and it’s always the man’s fault! Don’t you know anything?!
Wow, could not afford to put a battery in his car? Just sad. She is terrible with picking men to spend her life with. Picking the wrong person will destroy your life.
Recently my wife and I just sold two real estate properties for a total sum of $800k. We plan to purchase a new house next year, the cash is just sitting in our joint savings account. What do you recommend we do? I will appreciate any suggestions.
Certain stocks and commodities are a good hedge against inflation, however you need to know what the heck you're doing or better still, seek help from a money coach/invt-advisor
Concurred. was way easier for me to navigate the markets not until 2020 stock market crash, I had to source for an Advsr to revamp my entire portfolio and hedge against inflation. Concisely, I’ve pulled off around 850k after subsequent investments, since using a coach two years and counting
thanks for saving me hours of researching, I curiously looked up Monica Mary Strigle on my browser and came across her website, I hope I can allows interview Monica myself.
At one point I was married to a guy somewhat like this only thankfully not 23 cards. Within one year of marrying him along with a mortgage and a car we had $42K in credit card debt. The harder I worked at paying them off the more he charged. When the monthly minimum payment was $1100/month (I was bring home $1800/month and his fluctuated but on average about $1500/month) I told him he could not use any of the cards and he wined about me emasculating him. I decided to divorce him as I saw no future with a man who didn't care about the rest of the family, he wanted what he wanted. I got divorced and was able to pay off all cards that had my name on them. He didn't bother paying off his debt, he went and bought a motorcycle that I don't think he ever got it going!
We can blame the "system" all we want, but this student loan thing comes back to people signing on the bottom line to take out loans. There are several ways to never go into debt and several more to minimize debt. However, they all take planning- acting rather than reacting. Military (I did this and paid for undergrad), community college (also did a bit of this and my daughter is doing it now), putting off college to work save or sitting out a year to work and save (my sister did this). Trade school rather than college (my son is doing this) There are plenty more beyond this. I did take out some loans for law school, but in the end, it was the equivalent of a base model Camry (which was paid off quickly) while my cohorts were taking out McMansion-sized loans. We dig our own holes, but we don't have to.
I worked my way through 4 years of college doing on campus jobs for the college as well as typing term papers for guys, etc. But that was almost 50 years ago.
@@gailrodgers3079 Well but that is part of the problem. The further back we go the more affordable some thing were. I was able to pay my 35K loan off in 5 years from 2009 to 2013 but today making 40K which is twice what I made back then I can't currently pay of 35K!!!!!
That averages out to less than $1000/card. This isn't as bad as it sounds. Just start paying off the ones with the lowest balance first and never eat out or go to Starbucks.
I’ve taught my kids that debt is to be avoided. Credit cards are the worst of all of the debt choices. Why haven’t parents all caught on to this thought yet?
Dave rants awesome! Both wife and hubby have issues to work through. Can be done. All one needs to do is follow Baby Steps step by step, worked for me and paid off all consumer debt, $100k plus, in 19 months.
Reminder to self: 'Don't settle for just anyone just because you desire a relationship/marriage. Even better reason to wait it out for the right partner, God's best!
Getting out of that much debt given their backgrounds, will be difficult to do just by themselves. Some encouragement, direction and guidance from a group will be huge for them. My only concern would be the husband, will he put his ego aside and work for someone else
When I got divorced my ex gave me all the credit cards and said have fun. $4k. The idea of getting re married never crossed my mind. Got divorced 34y ago and still single. So happy
How do you have a Bachelors in Psychology and have $110k in student loans!?!?! My husband has his LPC and he took out less than $20k between his Bachelors AND Masters!!
Just FYI gig workers work hard! It is a REAL job! I do it part time and it’s hard work. I am one of the fortunate ones that doesn’t depend on it to pay the bills, but there is plenty of gig workers ( Instacart, Uber lift and eats Walmart Spark, etc) that actually do this as a living. I hate it when Dave makes these ignorant blanket statements!
Yeah I hate how people look down on it as if it's not a real job. I did uber in a major US city 3 years ago and it's most definitely a job, as much a job as having your own business.
Only choice is sell the house and everything you have and move somewhere she can use her degree for income. Her husband has 22 credit cards and turns out she has the bigger baggage
I did not realize there was a speed running category to get so many credit cards. Idk if he got the world record, but wow, that's crazy. I'm shocked he does not have more debt.
I had a good 15-20 cards due to shifting my husband's debt to the next one offering zero interest for a year or so. Back then there was little to no cost to transfer the balance. I never allowed him to add anymore debt but it was a long 4 years getting him to pay them off. I closed most of them after.
I have one CC only for online purchases, and pay them off soon as they post. You don't have to wait for the statement. The single purpose is to protect banking and debit card info. I am very disciplined, if I don't have the cash, I don't buy.
I made 33k when I was 22. Can't imagine being 46 still making that. I was making 100k+ by time I was 30 with no degree. She needs a career change and a husband who's motivated to work and provide for his family.
110k in student loan debt and 36k income?? She complained about her husband’s 18k in credit card debt and 22 credit cards. But her student loans at age 46 and that income will never go away. She will work until she dies. Social security check will garnish because of those student loans not paid off
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good?
I don't understand why people want to pick sides and lay the blame on one spouse or the other. Sounds to me like they're perfectly matched. She's under-employed and upside down with debt-to-income. He's not real motivated but at least his debt-to-income is reasonable. I bet she was happy with life until the child support ended
That amount of student debt, for what? She didn't even follow through and is working in customer service which is near the lowest paid field on average. I am in IT and graduated without debt. That college took advantage of her charging her that much for a degree that doesn't pay without Masters, and she let being taken advantage of.
@anitapennington6195 I agree, I'm just saying, there are a lot of people who say yes and sign up for that new card to save 5% on their purchase today!!! Lol
Christy: My plan, before I remarried, was to wait until my kids were out of the house, then tackle $110K in student loans while earning $33K/year. Then I married a guy with $18K in credit card debt and he also doesn't want to work. Dave: $110K in student loans, getting a degree in what? Christy: Psychology and Counseling Everybody: We knew it wasn't Mathematics.
@@ykook7000 Psych degrees aren’t useless. I make 55k with mine and have only been out of school for 3 years. It’s all about connections and what you do with a degree. I know plenty of computer science majors or math majors that don’t have a job.
Psych degrees are great degrees but unfortunately you usually need a masters to do anything with it. Mathematics is also just as aimless if you don’t have an aim of exactly what you want. That’s a very broad degree
Every person I know with a psychology degree is a middle age woman who is still paying on her student loan debt and working in a field that doesn’t require a degree.
Title alone dropped my jaw. Three kids (now out of nest?), 22 credit cards with $18k debt, PLUS still owes $110k for financing an undergraduate psychology major degree AFTER 15 YEARS! Criminey - hubby does Door Dash at 50 years old? If nothing else, this should scream the ridiculousness of majoring in subjects that should be electives at most and hitching one’s wagon to low-ambitioned significant others. Cut every card up, pay every one of them off, double down on the school loan payments, and live on rice and beans. Too, hubby needs to pump gas between dash stints to pay household expenses. What’s sad is that they have to do it nearing retirement age. Edit: I while I agree with Dave that only a master’s degree will make the caller marketable in the psych field, I think that ship has looong passed. She’ll NEVER break even if she needs to finance it - and would be throwing good money after bad. Her efforts would be better spent hunkering down and working full bore at any job or job combination she can get - whether waitressing or pumping gas herself.
In this case, a consolidation loan for those 22 credit cards would be a good idea so he can put it all on one payment. He's probably getting hit with late fees frequently because it's hard to keep track of that many cards and their due dates.
In my opinion any degree can be made into something but unfortunately that can usually only be done either right after graduation or with an addition of a masters degree. But you need to be able to pay for it. We do need psychologists so it’s an important major but you need a masters to get a good job usually. And with her student loans I don’t know how she’d afford it.
This is fallout from bad moral decisions. Divorce and adultery is not a blessing. This is the "REAL" elephant in the room. Admit it lady - you married him thinking he would save you financially and he married you thinking you would save him financially. You two need to admit this, undo this relationship, and change your thinking.
Interestingly, so many callers start the conversation with comments like "I'm doing great". Where does "doing great" come in when you're calling Dave because you have a husband with 22 credit cards and a Door Dash job, 110k in student loans, and a 33k/year job? Additionally, she notes she can't get a good job with her degree because lives in Louisville, KY (the largest city in the state)?
Let's face it. The reason many of us click on these Ramsey clips is to reconfirm to ourselves that there are people more screwed than we are. 😂
100%
Yup 😂
Why? Why do you have to read my mind, lol
🤗@@PN-ve9lf
amen
She has a $33k/yr job and student loans of $110k.... college is not for everyone
And All degrees are not good
Americans don't understand that
It blows my mind how many 50yo+ are in 100k student loan debts.
@@o0usf0o A lot of that is interest accrual, that is the problem. When you graduate the monthly payment you pay should be paying your loan down but the issues are with the compounding interest that your payment doesn't even cover and some are worse than others. This is predatory and vicious and this I think is what needs to be taken out of Student Loans. Graduating with 100K of loans should not yield a higher loan balance 10 years later after making all the payments correct and on time. Ramsey's should try talking about this elephant in the room not just telling people, simply pay it off as soon as you can as most cannot this is the reality and must be addressed. They need to address the other issues as well as the system is not going to change and people will always need loans to go to school. Its one thing not to pay it and it hits you but the majority are paying and simply cannot get their balances down.
She literally paid $100,000 for a chance to get a $15/hour job
Dude! I know 65 year olds paying off student loans! These are people who got a masters degree in their 50’s.
Ya know that Presidential candidate Cornell West, 70 years old, recently cited his “student loans “as a major factor in his money troubles.
These people are insane.
She calls to complain about her husband's 18k in credit cards, but her debt burden is seven times that! Talk about being full of crap!
That's the problem. People treat student loan debt like it's optional or low priority, you know, like someone at the White House will magically remove it someday.
No, but the difference is she is trying to fix it. I think they can once they get it together, but at least she had a goal to pay it off.
Bro $110k in student loans, graduated in 2009, and making less than $40k?! No way. Shes got to get serious and fast.
Yeah very true, if you’re gonna do college do something that is marketable and actually work, it sounds like she started and never finished, such a waste of time
Many people who f started before and finished after 2008 graduated in a different world. Suddenly people with diploma didn't find a job that they studied for
I’m from the same area as her. I’ll almost guarantee you she didn’t attend the University of Louisville to rack up that kind of debt- especially in 2009. My son graduated from U of L in 2016 and the tuition wasn’t at that kind of level to accumulate over $100K in debt. I’ll bet she went to one of the area private universities for her degree and paid through the nose for a useless piece of paper.
She married an Uber driver and he married a woman with $100 in student loans making $30k. Two clueless people who undoubtedly going to be broke in retirement. Sad.
Somehow they found each other 😉 this is a good example law of attraction, right 😉 I hope they figure the issue out. They need a financial advisor. I see a business opportunity here
Losers and water seek their own level
Dave's reaction when she just causally mentioned (she wasn't going to mention it otherwise) that she has $110,000 in student loan debt got me laughing. She calls in saying the problem is her husbands 22 credit cards with $18,000 balance (and that is a big problem), but somehow having 6 TIMES that amount in debt is something we can ignore for the moment?
“My husbands the problem! How could he be $18k in debt 😭! Anyway, I have $110k in student loan debt but that’s neither here nor there 🤗”
Lmao
To be fair to the lady, credit card debt burns a lot hotter than most student loan debt.
@@RupertMDoc she’ll carry that student loan to her grave in all likelihood
student loans are from investing in your education, credit card debt is from bad spending
@@politcallycorrect5816 maybe… I do know people from when I went to college who bought home entertainment systems and motorcycles with private student loans
She has children, was divorced, had 110k in students loan then met a “jobless” man and decided to marry him?! Huh? WHY
He's probably tall lol
Huh????
Tall handsome and good in bed. She was dickmatized😅
you know, people don't look for spouses as a source of income... maybe you do though
@@xavil6341 I think mentioning the joblessness is an appropriate inclusion to address relationship compatibility (shared goals and lifestyle). Unfortunately, the caller doesn’t recognize that she actually did choose someone who matches her fundamental financial standards.
18k on 22 credit cards can be cleaned up pretty quickly by getting organized. It's the 110k in student loan debt making 33k that's going to be challenging. I would be defensive as well if I was the husband. Why are you worried about my little 18k in cc debt when you owe a 100k+ in your mid 40s on a student loan. They got to get on the same page.
I agree his first step should be to get a divorce. Her debt is crazy as hell.
She can always get a higher paying job he obviously is a loser forever
If she is 46 how old is he
Why diminish his debt and go hard on her
She at least has some substance to build on he doesn't
@@ykook7000 lol they both suck. She is 46 with 6 figure student loan debt making nothing, and he’s a 50 year old door dasher who doesn’t want a real job. They deserve each other
@@ykook7000 Her degree is WORTHLESS if she's not wanting to use it. And after 15 years out of the market, it will be EXTREMELY hard for her to get into anything in that profession even if she wanted.
So yeah, her debt is MUCH worse than his.
@@ykook7000 If it's that easy, why doesn't she get a higher paying job? She is not exactly a spring chicken. We don't know if the degree is even relevant. An unused degree is normally considered outdated if one has not been employed in ones field for 5+ years.
She is only making roughly half of the median salary for her age group, and is $100K plus in the hole. Who is the loser here.
$110,000 for a bachelor's degree? These people have so many obviously bad decisions in their lives. It's hard to believe they need to talk to Dave about their situation.
Worst decision was having 3 kids with a bum / loser.
@@keithbellair9508She’s a loser too.
When Dave did his facepalm, he was saying "Even I can't help this girl get out of debt" Dave met his match with this one.
When she said 22cc I thought she was gonna say like $90k+
Exactly, most people have 1 or 2 CC and 18K. 22 is insane, not sure how you even go about applying for than many and getting approved.
@@westbccoast I wonder if his credit(score) only approves small limit cc's ?
@@westbccoastevery store has a card they’d love to approve you for
@@westbccoast all it takes is answering every piece of junk mail :-)
It's not the end of the world.
I don't feel bad for her. She just married this guy and did zero checks prior. The dude hardly works. He has 22 credit cards. He won't get a real job. She is an adult and she made this decision. She borrowed 110K for student loans and doesn't use it at all. The bad decisions have to stop.
He might not work but he only has $18,000 in debt. She still has $110,000 student loans!
Meh its not the guy's fault. He makes $4k a month and we don't know his family situation
The guy is making $1200 a week, if he's tracking his miles he will be paying negligible taxes , with 52 weeks a year, he will be pulling in about 60k per year, the guy is doing ok and making twice what she makes, as long as he can continue to work he is not the problem
Ya they both need two jobs right now since her kids are out of the house.. pay this off so you can retire debt free and have some peace
She sure wasn't very smart her being a phycologist got hooked up with dis function now she's really gonna go on a psych ride now
Why does nobody ever address the issue of people racking up 6-figure student loan debt on degrees that lead to careers with low pay and minimal opportunities for advancement?
Yep, the problem is many degrees aren't meant to be terminal degrees, but foundational degrees to lead into further education, like law school or a Masters.
6 figure student loans for anything is nuts. Yes many are foundational. But if you don't go further, you are in trouble
@@greggpurviance7252 Yeah, I agree, but potential students should at least do an ROI analysis. The cost of obtaining any 4-year degree from a specific university is virtually identical. Yet, you can get a degree that lands you a job earning a median starting salary of around $80K with high income growth potential (e.g., chemical engineering or computer science), or you could get a degree that would land you a job earning a median starting salary around $40K with low income growth potential (e.g., psychology or social services).
It is addressed cos every 3rd caller on this show demonstrates it
But it's the systems fault remember 🙄🤦
@@ykook7000 just a comment on fault. When there are government backed loans, there is serious inflation and management bloat. That being said, the government doesn't sign up for that loan. No one has to do a buy in to the disaster. That's on the student & parents.
I just paid off my first credit card and cut the card up. Never going back!
@liloppo
Me too! Congratulations!!!!❤❤❤
Nice! I paid my CC off in 2014, and never got another one.
But your missing out in 2% return and $100 annual fee
@@MrJimmy3459 the 2% return can add up if you pay your balances every month before interest is applied, but the annual fees are bullshit
@@MrJimmy3459 lol 😂
Was out of work for a while because things slowed down at my job. We got down to 2 months savings then my car got totaled because someone ran a red light and hit me. And of course she had no insurance. Thankfully I have uninsured motorists. We bought a $1500 beater for now because we want to get a better car than what the payout will get. I quit my job for a new one. Started at $25 an hour. Trying to save emergency funds back up and need a new car. But was just glad we didn’t plunge into debt.
Dave facepalm is hilarious at 3:44
Defeated😭😭
Lmaooo I did the same thing when she said that. $110k in student loans and only making $33k 🤢🤢🤢
Another big reason I got out of debt before I married my wife. I didn't want any of that on her shoulders.
I'm working on doing the same thing. LFG.
Husband probably doesn’t want to drug test for a job.
Or has a criminal record. Nowadays that's career suicide as far as a W-2 job is concerned. I wish they would inform high school students just how much it counts against them.
My ex had about 20 credit cards in my name and it took me an additional 10 years after our divorce, to pay all them off. He maxed them all out. It was rough.
However, my 2nd husband and I have been married 10 years and are completely debt free including our house is paid for and no vehicle loans whatsoever, zero debt. We are living well. 😅
Why did you let him do that??
Geez, he should have been assigned some of that debt.
Girl I would have been owning BAIL AND A LAWYER 😅. There are somethings I can overlook... but THAT amount?! You're a better woman than me and you have an AWESOME husband....he got a brother? 😂
Her:Look at his $18K and 22 credit cards!!!
What's your debt?
Her:$110K in student loan debt.
With that income, why not work in the public sector. Would've probably had a pension as well.
I like how she bashed her husband starting off when she has 10x the debt but she started off with 22 credit cards to sound worse
Exactly that is one sign of a feminazi
"doesn't like working for someone else". This guy thinks he has all the answers and is probably uncoachable. Sounds very stubborn and committed to his ways
That isn't the problem he married someone with 110 thousand in student debt is moronic. She should have been nothing more than a side chick or girlfriend at best. He isn't the problem she is under working for decades.
@@chattingman6777 I did actually write that comment a bit early before I found out she was 100k in debt for psychology. I honestly feel like her part is probably worse!
@@chattingman6777let's just come to the correct conclusion... they're both morons
Why? Not everyone likes to say yay boss. In light of cronyism, do you know how common it is for people to work for incompetent bosses, who makes their lives hell on earth?
@@sblijheid If you don't like having a boss, then you need to have a viable alternative to support yourself the rest of your life.
Husband is lazy, wife has no ambition, doomed to stay where they are if they don't get it together.
this is why i stay away from credit cards
And think about how this generation will be when they hit old age.
destitute..@@musicman7297
Then you have the guy who has lamborgnis and has to pay his wife for everything or she will divorce him
@@angel-ij4xv even with no credit cards you can't make a living with Uber. It is a teenager job or part time extra after a full time job.
In general, this is a reminder for all of us to stay away from credit cards and bank loans. Use to have a mortgage. Now I live mortgage free for 4 years already, and I tell you that feels awesome❤❤ find a way to get rid of the mortgage asap. Half of my income was going to the bank :( and I was fed up with that and took action.
I wish everybody the same and debt free in you lives.
I'm a recently retired marketing professional and would not have hired someone whose sole academic credential was a Psychology degree.
May as well be Left Handed Underwater Basket Weaving😅😅😅😂😂😂😂
Maybe coupled with hard skills from jobs?
@@cindymann3673Speaking as a recent Psychology graduate, they do not give a fuck about that degree unless you are going into counseling or therapy. So the hard skills you gain from research assistantships and mental health care positions are ultimately the biggest benefit
I love how people survey the job market in the area they apparently want to live in, AFTER going to college and acquiring the debt. Oh there’s just no jobs for this. I guarantee you somebody could give her the masters degree and she still wouldn’t have a job doing what she went to school for. In the end not going to college has value compared to this. You can’t afford to lose if the career doesn’t come with it. I swear college is sold to people as a false hope in the future. Funded with government backed loans that private banks wouldn’t give out in a million years.
Underachieving is a personality trait. And yes my college roommate never looked into what jobs with her degree would pay before she was about to graduate. I researched that before I chose my computer science major.
@@lynnebucher6537
Exactly same. Wife and both have finance and accounting degrees largely because they aren't terribly difficult and pay well with just bachelor. With annual merit increase and even a few promotions most make 6 figures by 40's and can easily be double that
Degree you chose has even better opportunities.
Basically never Incur any debt (particularly kind you cannot absolve in bankruptcy) without incredibly high expected returns.
Folks like her doing exactly opposite is insanity.
When I returned to college in my 50s, I started in the Placement Office. What jobs are in this area that match my interests/abilities?? I gathered names of local alumni, scheduled job shadowing times, and stayed in touch for a good reference on my resume.
Dave’s the man!!
Why are we shaming the husband's choice of work when he makes almost $60k a year with $18k debt. The wife makes $33k with $110k of student loans! Car maintenance would not be nearly as much $60k 🙄. He needs to pay off those credit cards in a year. She needs to start doing some Doordash to bring in more income!
He may make 60k but 25k is gas, insurance, and wear and tear.
He Makes 33k after gas and taxes
ABSOLUTELY
@thomaspiscitello7330 He would have car insurance expense whether he drove for doordash or not so that's a nonitial and your numbers are way off concerning the amount of gas. And wear and chair on the vehicle . You're also not taking in consideration tax rate offs.
@@TheTbabylati She makes $33k, not him.
If you want to feel better about your financial situation, listen to Dave Ramsey
I know being a teacher is tough these days, but get that certificate and double your income overnight.
I just retired from teaching and all I can say is "F" that idea.
🙌 this right here!! Forget the masters but use your degree for something!
The $18,000 debt doesn’t stand out to me as the biggest problem, although it’s bad. Getting $110K in student loan debt and only making $33K a year is bad. Marrying a loser husband who doesn’t have a job is problem. Having 22 credit cards is ridiculous.
Disagree - Ratio wise, he can get an entry level job for $10-15/hr and his debt is about 50% his gross annual income
Her debt is 330% of her annual income
Math can be twisted any way you want, but when you use it fairly for evaluation, she is the bigger issue
@@zybard01 He does have 100% gross stupidity. The interest on that $110,000 debt must be astonishing.
@@zybard01 Agree. But that said, they’re married, and presumptively should be handling their combined debt with equal fervor.
@@zybard01Here's how it works. The man always has to take responsibility and is always the loser. The woman never has to take responsibility and is a victim because the man whom she chose is not living up to expectations
@@e.goldstein1972 Wrongo. As a woman degreed in advanced technology back in the 80s (I designed your compilers and OSs), I ran circles around my ‘peers,’ most of whom were ‘men.’ My husband, whom followed in my footsteps, found himself time and again out of work (he had ‘authority’ problems). I paid every bill and then some, and we saved gobs of money on my income alone. After 10 years, he was so emasculated he cried mother and ‘decathected,’ as Scott Peck would say. In the decades since, I’ve thrived as he’s foundered. So much for a penis.
Man. I feel bad and feel like a loser. Then I hear a story like this and all of the sudden feel alot better
Don't even think about defining yourself that way. You are descended from the heavens. You get to choose how you will proceed in life.
I think that’s why so many people watch this stuff to feel better about themselves
@@americafirst9144 Yes on new cars and credit cards. I need Dave Ramsey ... but thankfully do not owe as much and have more income without a 100k student loan. That still does not make my actions mature
😂
This was refreshing to hear! Welcome to the real America people 😅
We repeat what we don’t repair.
Now I understand why some people ask to see a credit report on a person they are in a serious relationship with.
He probably got a discount for signing up to a credit card like Lowe’s, Home Depot, Kohl’s , etc.
She really knows how to pick em. An Uber driver who can barely afford his life while being critically in debt. Good job!
Ikr 😂😂😂
Makes me wonder if he married her for a place to stay.
He was making $1200 a week driving uber. She makes $33k a year and has over $100k in debt. Makes me wonder if she married him for a place to stay.@@alicef128
😂😂😂😂
Noooooo you cannot hold women responsible for their poor choices in partners!!! It’s all a big surprise to them and it’s always the man’s fault! Don’t you know anything?!
Wow, could not afford to put a battery in his car? Just sad. She is terrible with picking men to spend her life with. Picking the wrong person will destroy your life.
She destroyed her own life with $100K in student loans to get a low wage job, and letting those loans linger for 15 years and accumulate interest.
The number of credit cards doesn’t matter. It’s whether you pay them off or not.
Agreed but 22? I can see maybe 4-5 but 22 is nuts. I wouldn’t be able to remember or keep track of them all
She knew what he was making when she met him. I have no sympathy. At least there was no bait and switch.
She also said she want to buy a house. It's worse when you don't know what you don't know.
He likes to do it on his own but he’s not on his own anymore. He got remarried so what he does affects THEM.
I have 8 credit card and $5,000 of free vacations each year. 4 rentals, 600k in retirement at 42. Love my career. Don't run with scissors.
You’re killing it💯👍🏾
Recently my wife and I just sold two real estate properties for a total sum of $800k. We plan to purchase a new house next year, the cash is just sitting in our joint savings account. What do you recommend we do? I will appreciate any suggestions.
Certain stocks and commodities are a good hedge against inflation, however you need to know what the heck you're doing or better still, seek help from a money coach/invt-advisor
Concurred. was way easier for me to navigate the markets not until 2020 stock market crash, I had to source for an Advsr to revamp my entire portfolio and hedge against inflation. Concisely, I’ve pulled off around 850k after subsequent investments, since using a coach two years and counting
this is huge! can you be kind enough with info on the coach that guides you please? I’m in dire need of one as I approach retirement
Doing your research will save you a lot of hassle. Monica Mary Strigle is her name and she is licensed.
thanks for saving me hours of researching, I curiously looked up Monica Mary Strigle on my browser and came across her website, I hope I can allows interview Monica myself.
How can anyone in their right mind be able to manage and coordinate the monthly bills on 22 cards?
Autopay, an app that aggregates all your accounts, and enough financial responsibility that you're not living paycheck-to-paycheck.
He's a helluva juggler!
At one point I was married to a guy somewhat like this only thankfully not 23 cards. Within one year of marrying him along with a mortgage and a car we had $42K in credit card debt. The harder I worked at paying them off the more he charged. When the monthly minimum payment was $1100/month (I was bring home $1800/month and his fluctuated but on average about $1500/month) I told him he could not use any of the cards and he wined about me emasculating him. I decided to divorce him as I saw no future with a man who didn't care about the rest of the family, he wanted what he wanted. I got divorced and was able to pay off all cards that had my name on them. He didn't bother paying off his debt, he went and bought a motorcycle that I don't think he ever got it going!
That's what I was wondering.
It's called autopay.
110k student loan and she doesn't have a masters. How do you owe 18k on 22 cards?
How do you have 22 cards?
I don't get it!?😮
HIGHLY doubt she’d find a 90k job with her degree, background, and age
And drive.
YEAP, WAY too many years out of market. Her degree is almost worthless if she doesn't update with a masters.
He’s losing money doing uber and doordash? Then why do you recommend it to every broke person that calls in?
I think they recommend it as a second income or a temporary job.
Excellent point.
Ellie Mae was so desperate for a man she didn't think through the whole process. Perhaps she should of counselled herself first.
He married a woman with $100K debt, who is the desperate one here?
* Should have 😉
"Should've".
We can blame the "system" all we want, but this student loan thing comes back to people signing on the bottom line to take out loans. There are several ways to never go into debt and several more to minimize debt. However, they all take planning- acting rather than reacting. Military (I did this and paid for undergrad), community college (also did a bit of this and my daughter is doing it now), putting off college to work save or sitting out a year to work and save (my sister did this). Trade school rather than college (my son is doing this) There are plenty more beyond this. I did take out some loans for law school, but in the end, it was the equivalent of a base model Camry (which was paid off quickly) while my cohorts were taking out McMansion-sized loans. We dig our own holes, but we don't have to.
I worked my way through 4 years of college doing on campus jobs for the college as well as typing term papers for guys, etc. But that was almost 50 years ago.
@@gailrodgers3079 Well but that is part of the problem. The further back we go the more affordable some thing were. I was able to pay my 35K loan off in 5 years from 2009 to 2013 but today making 40K which is twice what I made back then I can't currently pay of 35K!!!!!
That averages out to less than $1000/card. This isn't as bad as it sounds. Just start paying off the ones with the lowest balance first and never eat out or go to Starbucks.
You don't think he has an income issue? Why use the cards when one already has money?
Now ma’am you should’ve known better than to marry that. 🤦🏾♀️
Marriage is a drug.
She spent $100,000 on college and didn’t even get a masters??? Something is up here, why did she overpay this insanely for a bachelors degree?
I’ve taught my kids that debt is to be avoided. Credit cards are the worst of all of the debt choices. Why haven’t parents all caught on to this thought yet?
Amen! I preach this to our kids
Well it’s good to have to build credit. You just need to able to manage it properly and try not to overspend with it
@Kayla-hs9rt credit is nothing. It allows you to get in debt and nothing more. Pay for things, don't borrow and pay.
Which is why I pay them all in full as soon as they post@@RichardPatrick84
Is it any shock that the people who set-up this crap system arent smart enough to manage their money?
"Is he currently using credit cards?" Hahah, it's a drug. Gonna learn about debt in DARE class now.
"From his previous marriage" lol. So he's been charging credit cards for a LONG time. 😅😅
Dave rants awesome! Both wife and hubby have issues to work through. Can be done. All one needs to do is follow Baby Steps step by step, worked for me and paid off all consumer debt, $100k plus, in 19 months.
Well but maybe not since she does not make much money to start off with. Also the are in debt for reasons already.
Reminder to self: 'Don't settle for just anyone just because you desire a relationship/marriage. Even better reason to wait it out for the right partner, God's best!
You are absolutely right, unfortunately some men have to settle for underemployed women with $100K plus student debt. God bless.
Better yet, just dont get married. Problem solved.
I certainly wouldn't have picked him for a husband. I'd I was a man, I def wouldn't have picked her
I have 34 credit cards what a rookie.
3:44 I burst out laughing at that reaction. Dave is the funniest.
$110, 000 in student loans 🤦🏻♀️
And only making $33,000!
For an undergraduate degree only!!
Groundhog day
This happens all the time
Yet it's the systems fault apparently 🙄🤦
There's nothing wrong with doordashing. Just don't do it full-time. It's a side hustle not a way of life
Even as a side hustle, it needs to be treated as a business.
Marketing is a super competitive field
Getting out of that much debt given their backgrounds, will be difficult to do just by themselves. Some encouragement, direction and guidance from a group will be huge for them. My only concern would be the husband, will he put his ego aside and work for someone else
She could doordash at night herself.
@@sblijheid if I eas her, I would, at least until I could get a better paying day job.
When I got divorced my ex gave me all the credit cards and said have fun. $4k.
The idea of getting re married never crossed my mind. Got divorced 34y ago and still single. So happy
Yiiiikes. Can't wait to hear how this goes
How do you have a Bachelors in Psychology and have $110k in student loans!?!?! My husband has his LPC and he took out less than $20k between his Bachelors AND Masters!!
Just FYI gig workers work hard! It is a REAL job! I do it part time and it’s hard work. I am one of the fortunate ones that doesn’t depend on it to pay the bills, but there is plenty of gig workers ( Instacart, Uber lift and eats Walmart Spark, etc) that actually do this as a living. I hate it when Dave makes these ignorant blanket statements!
Yeah, my neighbor lives on Uber & Lyft. He has risen alone his two boys well. Nothing to be ashamed of.
Seems like after taxes, and expenses it's less than min wage.
@@captainkrunch6372 Min wage also pays taxes.
Yeah I hate how people look down on it as if it's not a real job. I did uber in a major US city 3 years ago and it's most definitely a job, as much a job as having your own business.
Only choice is sell the house and everything you have and move somewhere she can use her degree for income. Her husband has 22 credit cards and turns out she has the bigger baggage
I did not realize there was a speed running category to get so many credit cards. Idk if he got the world record, but wow, that's crazy. I'm shocked he does not have more debt.
I'm pretty sure I saw a Ramsey video where a person had 30+ credit cards, years ago.
I think it's called "I have 35 credit cards, how do I pay them off." The video is like 7 years old.
Sheesh...I thought 22 was a lot
I had a good 15-20 cards due to shifting my husband's debt to the next one offering zero interest for a year or so. Back then there was little to no cost to transfer the balance. I never allowed him to add anymore debt but it was a long 4 years getting him to pay them off. I closed most of them after.
She makes no money and he has no work ethic and too big an ego to “work for someone else”. That’s a bigger problem than 22 credit cards.
Sounds like neither of them has much ambition . Good luck with that people 😂
I have one CC only for online purchases, and pay them off soon as they post. You don't have to wait for the statement. The single purpose is to protect banking and debit card info. I am very disciplined, if I don't have the cash, I don't buy.
I made 33k when I was 22. Can't imagine being 46 still making that. I was making 100k+ by time I was 30 with no degree. She needs a career change and a husband who's motivated to work and provide for his family.
@kyaramonique385 That's Fantastic! What kind of work do you do? 😇
I’m tired of grown dudes making zero money saying “I just want to work on my own.” But not have any money
I'm astonished that people can rack up that much student loan debt. I wonder what the thought process was....unbelievable.
My little sister is like that: $150 k in student loans. Good Luck!
"Why is he nor working?" because Door Dash is not a job. And her $30K is what an entry job at Kroger pays.
110k in student loan debt and 36k income?? She complained about her husband’s 18k in credit card debt and 22 credit cards. But her student loans at age 46 and that income will never go away. She will work until she dies. Social security check will garnish because of those student loans not paid off
Right? These $100k student loans are the most irresponsible thing a person can do unless you get a job that’s over $400k
If she leaves him she can recover
This is why one should NEVER share economy. NEVER. Each one pays for him- or herself. Married or not.
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good?
Thanks for the efforts you put in these. I found her and i leave her a message i await a response
Scam
I don't understand why people want to pick sides and lay the blame on one spouse or the other. Sounds to me like they're perfectly matched. She's under-employed and upside down with debt-to-income. He's not real motivated but at least his debt-to-income is reasonable. I bet she was happy with life until the child support ended
Agreed. Birds of a feather flock together.
“Single mother of three” it was at that moment I knew things were not going well.
Agreed. Of course, single means not married. It doesn't mean she does not have help raising the children. They have a father.
That amount of student debt, for what? She didn't even follow through and is working in customer service which is near the lowest paid field on average. I am in IT and graduated without debt. That college took advantage of her charging her that much for a degree that doesn't pay without Masters, and she let being taken advantage of.
They make it seem like people who go to college are smarter and well off but these calls prove otherwise.
Not in America everyone goes to college remember it's normal
Stupid people are in all walks of life regardless of education status
Find out and discuss each others finances before getting married !!!
I have two credit cards. I can't imagine having twenty-two.
It's easy when the cashiers at every store checkout ask you if you want to sign up for a new card lol
@@NWI_Steelit’s easy for me to say, no thank you. I have no mortgage, no car payment and no credit card debt.
@anitapennington6195 I agree, I'm just saying, there are a lot of people who say yes and sign up for that new card to save 5% on their purchase today!!! Lol
@@NWI_Steel weirdly ive only been asked once if i wanted to sign up for a credit card lol
*22
110k in SL but only making 30k in salary. Horrible ROI on this. And dude needs to get a real job asap
Christy: My plan, before I remarried, was to wait until my kids were out of the house, then tackle $110K in student loans while earning $33K/year. Then I married a guy with $18K in credit card debt and he also doesn't want to work.
Dave: $110K in student loans, getting a degree in what?
Christy: Psychology and Counseling
Everybody: We knew it wasn't Mathematics.
I have a psych degree and only owed 25k afterwards which is not that bad
Psych degrees are the new arts degrees
Useless
@@ykook7000 Psych degrees aren’t useless. I make 55k with mine and have only been out of school for 3 years. It’s all about connections and what you do with a degree. I know plenty of computer science majors or math majors that don’t have a job.
Psych degrees are great degrees but unfortunately you usually need a masters to do anything with it. Mathematics is also just as aimless if you don’t have an aim of exactly what you want. That’s a very broad degree
Match made in heaven they both have no drive to do better their lives
You married a rockstar!!!🎉
Well, she's a lazy groupie.
Every person I know with a psychology degree is a middle age woman who is still paying on her student loan debt and working in a field that doesn’t require a degree.
Title alone dropped my jaw. Three kids (now out of nest?), 22 credit cards with $18k debt, PLUS still owes $110k for financing an undergraduate psychology major degree AFTER 15 YEARS! Criminey - hubby does Door Dash at 50 years old? If nothing else, this should scream the ridiculousness of majoring in subjects that should be electives at most and hitching one’s wagon to low-ambitioned significant others.
Cut every card up, pay every one of them off, double down on the school loan payments, and live on rice and beans. Too, hubby needs to pump gas between dash stints to pay household expenses. What’s sad is that they have to do it nearing retirement age.
Edit: I while I agree with Dave that only a master’s degree will make the caller marketable in the psych field, I think that ship has looong passed. She’ll NEVER break even if she needs to finance it - and would be throwing good money after bad. Her efforts would be better spent hunkering down and working full bore at any job or job combination she can get - whether waitressing or pumping gas herself.
In this case, a consolidation loan for those 22 credit cards would be a good idea so he can put it all on one payment. He's probably getting hit with late fees frequently because it's hard to keep track of that many cards and their due dates.
Don’t forget sell your car
In my opinion any degree can be made into something but unfortunately that can usually only be done either right after graduation or with an addition of a masters degree. But you need to be able to pay for it. We do need psychologists so it’s an important major but you need a masters to get a good job usually. And with her student loans I don’t know how she’d afford it.
I feel ya, Dave. I'm head-palming the more I hear this. 😖
This is fallout from bad moral decisions. Divorce and adultery is not a blessing. This is the "REAL" elephant in the room. Admit it lady - you married him thinking he would save you financially and he married you thinking you would save him financially. You two need to admit this, undo this relationship, and change your thinking.
Interestingly, so many callers start the conversation with comments like "I'm doing great".
Where does "doing great" come in when you're calling Dave because you have a husband with 22 credit cards and a Door Dash job, 110k in student loans, and a 33k/year job?
Additionally, she notes she can't get a good job with her degree because lives in Louisville, KY (the largest city in the state)?
So why did you marry him? shaking my head
??????????😂
Had to check to make sure it wasn’t my wife. 😅
NEVER MIND ...GET A NEW TRUCK!!
Wow, 22 credit cards is crazy.