Full Show: Why Americans Are Struggling With Debt and Trick To Get Drivers To Stop Using Cell Phones

Рет қаралды 12,844

Күн бұрын

Пікірлер: 97

@ForgingFreedomTV 2 ай бұрын

The fact that so many places are refusing to take cash should scare the hell out of everyone. They are designing a system against your success. God bless Clark Howard for the many years of outstanding advice

@chuckinhouston9952 2 ай бұрын

Who is “they?”

@bettysuelong4268 2 ай бұрын

They have been talking about this for several years. Now it is here..

@austinmillbarge8731 2 ай бұрын

@chuckinhouston9952 Publix self checkout, Spirit Airlines, and most US hotels require a major credit card for check-in to name a few. Low odds of haggling a better room rate to preserve your cash wad when you can just swipe and wipe (pay quickly and go use your bathroom).

@austinmillbarge8731 2 ай бұрын

It does scare me. So much that I've been living in various Latin America countries since March 2023 and got rid of a $3,800 Discover balance at 19% & 29% APRs in just 5 months by dramatically lowering my living costs. Now I have over $5K invested in US treauries and FXAIX and my last debt settlement payment is Dec 1, 2024. I couldn't have done this by getting a different degree or anything like that. I tried that, but college is basically buying an over-sized lottery ticket. The diploma doesn't come with an employment contract stapled to it and people who work in a college don't know how to build careers post graduation nor do they have incentive to help students do it if they do know how. Converting acadmic education to good, stable employment is much easier said than done and proably won't happen soon enough to avoid falling into serious debt. No politician will say that because student loan interest is a major source of US government revenue. Moving was definitely a living standard adjustment, but I've traveled and lodged in all quality specturms serving in the Air Force on active duty for 20 years so it wasn't impossible or out of the question. Here in Latin America for $200-300/month I live in fully serviced hotels with security and my Spanish gets better every day. I do no prep, cooking, dishes or clean up and eat well on $10/day. I've lost lots of weight and 100% of vehicle costs from walking everywhere (top 2% im Samsung Health for my age group). The subway and buses cost 25 cents to ride. I'm not staying in the beautiful neighborhoods, but the parks in those places are available to me. I don't need all that square footage and pristine HOA views in the US or anywhere else if it's just going to sink me into debt slavery rather than being retired. I already gave America plenty of myself "at the office." My plan may not be 100% perfect and I'm sure peope can find flaws in it, but if you let perfect be the enemy of progress, you'll always be in debt slavery. Clark is great, but shilling for better credit cards is a major factor behind so much credit card debt. All those perks he touts are just fishing lures. Debt should only be undertaken by someone who can plan it to the exact penny, date and time of repayment with a plan to generate revenue from it, but only Clark and a few others can do it well enough to justify the risk. It's definetly not wise to use debt spontaneously via credit cards which are just portable loan sharks. It's only a matter of time before an urgent situation keeps you from paying the balance in full one month and now a third party gets to dictate how much of your pay you have to surrender every month. It's called MASTER card for a reason. Promoting driving is not just a foul against a climate conducive to human continuity, regardless of whether your emissions are generated under the hood or at the power plant while you charge an EV, it's a household budget destroyer. Peolple are truly empowered when sufficient transit exists to make car ownership unnecessary and this achieves genuine CO2 reductions. If you need an indulgent five figure purchase to accomplish day to day living, you're in the hole already. Most Americans are just used to being born in this hole and teased deeper in by being taught to view indulgent ways as mandatory milestones to achieve. If you want to be free and independent, don't catch the anchor ⚓️when someone throws it at you and a house weighs far more than an anchor does.

@g.t.richardson6311 2 ай бұрын

@@chuckinhouston9952 who is you

@ronjr831 2 ай бұрын

I have been totally debt free for 8 years and it changed my life and allowed me an early retirement. Debt is a ball and chain.

@donna-n5h 2 ай бұрын

I forgot to add . Thank you Clark & Christa for the travel advice. I love the interesting travel stories you both share ❤🌆🧳🚢🛫

@karinchristensen220 2 ай бұрын

I'm in my 70's and do not have a credit card or any loans. I own my own home - actually a large ranch. When I was 40 I got into financial trouble with a credit card and lost my vehicle to repossession. I decided at that time to never get into debt again and I never did. Oh, and I also don't have a cell phone.

@Clark 2 ай бұрын

Way to go! 👏👏👏

@karinchristensen220 2 ай бұрын

@@Clark Well, I do use debit cards so maybe I don't qualify for too much applause. 😊

@Colleen_W 2 ай бұрын

The Fair Labor Standards Act states that all Americans should be able to LIVE on $7.25 per hour. But in reality, a living wage is 3-4 times that. And a large portion of homeless individuals are children.

@Colleen_W 2 ай бұрын

@silentnot4812 Americans are working two and sometimes three jobs. Plus there are those with Bachelor degrees that really make nothing. And you can stop with the lecturing.

@christopherhoyt7195 2 ай бұрын

Yup. That shows you just how interested the government is in public well-being. Knowing this, do you suppose one should look to the government to resolve cost of living pressures or start really focusing on doing things differently? I disagree that "ordinary" living is fine when it puts half the country into unplanned credit card debt. The era of the nuclear family in one separste home is probably over, and serious thought has to be given to multi generational homes and wide-spread apartment living for families. Europe does it pretty well, so can the US.

@pensacola321 2 ай бұрын

Watch what you say Clark. Remember, Yogi once said, "I don't know where we're going but we're making great time!" 😊

@cindypatrick785 2 ай бұрын

We shopped our home / auto insurance because we both knew we were underinsured w the “ behemoth” company we had been with for 3 years. We went from $135.97 monthly to $91.00 for auto. We increased our home coverage for not much of an increase on our premium. 8:21

@donna-n5h 2 ай бұрын

Yup ..so many times on the expressway you see someone driving erratically and you look over and the driver is on their cellphone! In some cases the state in which I live homeowners insurance is difficult to obtain. Some homeowners especially ones that just purchased their home have to rely on government backed insurance .

@calvinwalker4654 2 ай бұрын

I drive a high horsepower electric car and my insurance does not eat me up. It’s about half the price if I didn’t have this driver monitoring. Just because you have the horsepower, doesn’t mean you have to use it. As Clark says, you need to relearn how to drive. They are not for everyone so if you have an aggressive personality or drive aggressively perhaps don’t get one. It took me about two months to learn, but after that, I was good

@FlagstaffChief 2 ай бұрын

Your family member’s experience with Costco is typical for many on-line businesses. Their website is inadequate in areas they don’t want to address, and telephone access is either nearly impossible or outsourced to Zanzibar. I would gladly pay more to a company with an effectively in-USA telephone Customer Service Center. In fact, I do. Apple’s telephone service (for computers) is covered by US and Canadian sites. There is never a language barrier to understanding, and they get you to a human being FAST. 38:37

@jamesjones956 2 ай бұрын

Regarding the tracking devices insurance companies are offering - I recently changed insurance providers due to excessive premium rate hikes. When requesting quotes from prospective "new" insurers, I specified that I wanted a quote that did NOT include any discounts for having their tracker installed. And, although I rec'vd low-ball quotes that did not exclude the annoying tracker, its best to ask up front so that you know how to better evaluate your estimated premium.

@Clark 2 ай бұрын

Great tip, Clarkie! 🙌

@HankColter 2 ай бұрын

I love how Clark supports tickets resale. I wish people wouldn't be so judgy about supply and demand.

@chuckinhouston9952 2 ай бұрын

Clark, I really enjoyed today's show and I appreciate that you addressed the issue of credit card debt, which is a major concern for many Americans. Sometimes, I find it frustrating when I hear listeners’ virtue-signaling in the questions read, such as “..I’m 28 years old and work in a low wage job at Jack-in-the Box, and have saved $1.2 million retirement; my question is should I be saving at a bank or a credit union?” Or, how someone can sell their Taylor Swift tickets. These are first-world issues, and there are millions of people suffering from the economic conditions of the last 4 years. I believe that focusing on practical issues that a larger number of people can relate to would be more beneficial. Keep up the good work! You’re a national treasure, fur shure, good buddy.

@lg7728 2 ай бұрын

I think Clark is "focusing on practical issues........would be more beneficial."

@bygodsgracejourneytohealin8368 2 ай бұрын

For the life of me, I cannot get a job, and I've went on several interviews and put in over ninety applications and sent my resume in with those applications.

@Savannah-ed4rv 2 ай бұрын

I'm so sorry to hear that! How about working at home? I'm considering selling Thrive life food and if you go to a channel called live simple live free they are consultants and will help you set up your business online. It really helped them to get out of debt and to turn their lives around.

@charlessommers7218 2 ай бұрын

As always, great show 😊

@tomjohnston3601 2 ай бұрын

I'm always confused when credit card debt is discussed. If someone uses credit card(s) but pays them off every month to avoid interest charges, is that person counted as having credit card debt? Consumers who pay them off every month aren't struggling and aren't losing extra money for interest; they're just using the cc's to avoid carrying cash around.

@Clark 2 ай бұрын

No, people who use credit cards responsibly by paying them off in full each month are not in credit card debt. People in debt carry a balance and pay interest. 💚

@emc6511 2 ай бұрын

@@Clark Respectfully, that was not TomJohn's question. We want to know if the COUNT erroneously counts people who pay in full monthly are included in the count of people who carry a debt balance.

@davidfolts5893 2 ай бұрын

Clark's positivity is inspiring. Thanks very much!

@daveassanowicz186 2 ай бұрын

In regards to driving and cellphones, many new vehicles come with a smartphone integrated into the dashboard. There is no tactile input of buttons to adjust the basic things like radio or heat/AC. You have to look at a touchscreen!

@davidpowell3347 2 ай бұрын

In the State of Virginia when you get your mandatory yearly State Vehicle Inspection the mileage shown on the odometer gets reported to the VA DMV and I believe shared with your insurance provider.

@45414 2 ай бұрын

I have my phone set to go to DND when I'm driving. And yes, I'm just as guilty as anyone with my cell phone.

@Savannah-ed4rv 2 ай бұрын

Credit counseling services are notorious for taking your money and putting you in more debt, and at the same time ruining your credit score. The best way to get out of debt is velocity banking. There are tons of videos and how to do it and it really is helping me.

@elitepctech 2 ай бұрын

Hands free calling with Android Auto with text to voice and voice to text works so one can keep one's eyes on the road.

@Clark 2 ай бұрын

💯

@vincentwilkes9611 2 ай бұрын

Other applications are sending your driving information to insurance companies also.

@romanhollow2985 2 ай бұрын

It is much more than half the people.

@virginiamoss7045 2 ай бұрын

in Atlanta traffic, as I'm sure Clark knows well, if you leave enough room in front of your car to react to stop and go traffic, someone else will jump into that small space, causing you to have to brake hard. Then you start moving again, finally, and leave room again and, well, wash-rinse-repeat; you feel like you will never get to your destination. Since I don't drive very much and am a very safe and reserved driver I considered my insurance company's offer, but it simply didn't feel right what with all the privacy invasions and scams going on these days. Now I learn why these companies are so eager to get me to do this. Thanks Clark!

@chuckinhouston9952 2 ай бұрын

Not unique to Atlanta. What you’ve described is ubiquitous.

@PamelaVMason 2 ай бұрын

@@chuckinhouston9952 I see you're probably in HOUSTON!

@billkennedy2000 2 ай бұрын

#AskClark. Is it illegal to not accept cash in the US? It’s printed that “This note is legal tender for all debts, public and private “

@johngarcia6876 2 ай бұрын

You said"...the inflation beast has been slayed". Why do food and other goods continue to increase weekly in price ? What do you call the increase in price of most goods on a daily/weekly basis? Depression?

@tbarc1 2 ай бұрын

It took me years to find cheaper home/auto insurance! I combine and my auto premium portion is consistently low across the board. The one insurance nobody could seem to beat was one that sent a check for a certain % of upfront paid yearly premium IF there were No claims. It was a "nice" novelty at first. Seriously though...I'm not going to make frivolous claims as is evident from the numerous years I've been insured! I always reiterate upfront that I won't claim on anything less than being displaced or total loss of home! Finally found one that lowered premiums with no "perks" to achieve those premiums this past year.

@hasbeen-t2i 2 ай бұрын

The insurance phone app does not know if you are driver or passanger. Does not know if it is your car or you’re a passangr in someone elses car. You can get dinged for their driving habits. And the insurance company sells your tracking location. Avoid this trap!

@garybollrud8968 2 ай бұрын

Not true. Just enter that you were a passenger and that trip is negated. I use a driving app with Hartford.

@stevekrom702 2 ай бұрын

Alaska Airlines credit card holders offers free bag checking when traveling. $35 a bag per flight makes a difference.

@pauldelray5839 2 ай бұрын

A first. I came upon a driver who had their emergency flashers on while driving very slowly. Driver decided that having their flashers on would be a fair warning that "I am on my cell phone", so don't bother me. This is a problem with all ages.

@barbarafallin2038 2 ай бұрын

I stop UT my credit cards months ago,after I paid them off,I put a freeze on them, its cash only for me

@ardenmcclune7085 2 ай бұрын

The woman who is going to sell her Taylor Swift tickets for a big profit should be aware that the profit will be reported as income for tax purposes.

@retired8484 2 ай бұрын

There is no reason for any credit card debt at all. And yes there is lots of room for shame.

@buffycat4641 2 ай бұрын

Don't use cell phone while driving. Don't answer calls or even message notices on car screen. I wish car companies would block all but 911 calls. As far as NY there is nothing like being able to walk out your front door and be in the middle of Manhattan.

@Gumby1978 2 ай бұрын

Another great show!

@scottwhite2583 2 ай бұрын

Clerk which insurance companies just track miles driven?

@scottwhite2583 2 ай бұрын

I have Allstate and they track my driving on an app on my phone that I can track how they are rating my driving. Since I’m not in major roads most of the time the tracking gets me 300 discount a year

@Clark 2 ай бұрын

We have a guide on pay-per-mile insurance that may help: clark.com/insurance/car-insurance/is-pay-per-mile-insurance-worth-it/ Team Clark member, Ruthe, tested Mile Auto firsthand: clark.com/insurance/car-insurance/mile-auto-review/

@scottwhite2583 2 ай бұрын

@@Clark thank you

@AEvans36963 2 ай бұрын

There are some people who are reluctant to deal with their debt because they either think it'll just go away or they figure filing for bankruptcy will get them out. Both ways are foolish thinking.

@marietaylor5174 2 ай бұрын

Thank you Team Clark.

@e-care-books9867 2 ай бұрын

#BonusTerm - "The Clarkie-Swiftie" interface. Once again....some Clarkie-Swifties are in the spotlight. 😂

@davidpowell3347 2 ай бұрын

I guess the expenses and overcharging by the big providers such as Verizon for home phone line,Internet, and possibly cell phone connectivity could be a topic that could fill up an entire video ! About $165. for Internet and phone line per month sound excessive ? Broadband fiberoptic cable. Do not have cell phone and hate that people are driving around and even walking out into traffic or into other pedestrians while fooling with the things. Also I assume that they attract scam callers the way the home phone does? Scammers target the over 70 age group ? Sometimes I am driven to disconnect the phone line.

@paulpeters1739 2 ай бұрын

On debt Clark sounding a little like Ramsey which is a good thing.

@Clark 2 ай бұрын

Except, we believe in responsible credit card use for credit score and rewards. Our philosophy has always been that if you can't use them responsibly (pay it off in full every month), go to a cash-only system. 💚

@Savannah-ed4rv 2 ай бұрын

Dave Ramsey is kind of a dinosaur because he thinks you can get 12% on a mutual fund. Good luck with that! Plus he likes to call his viewers stupid. The last video I saw was from one of his people named George I think, and he literally told an 86 year old woman who is struggling with debt that she should get a job. Seriously? An 86 year old who is on Social Security doesn't even need to pay their debt anymore because there's Social Security money is protected by the US government! Ramsey is solely lacking on education for a lot of people who are having money problems.

@cindypatrick785 2 ай бұрын

@@centralgroupllp3933 I appreciate any one who takes the time to educate me about how to reach our ultimate goal of becoming completely debt free, including our home mortgage so we can live out our retirement years without money stress🙂

@virginiamoss7045 2 ай бұрын

I'm like Christa; I just don't look at or use my cell phone while driving. I'm not so important to the rest of the world that I have to jump when others say "jump". Driving is my quiet time, my safe time, my private time; don't expect to bother me then unless it's truly urgent. Then I will pull off the road, stop, and then deal with whatever it is; even then it probably could have waited. Sometimes I think it's only seriously insecure people who cling to their phones so tenaciously or maybe those who are instantly bored inside their heads if there's nothing inputting there. Clark doesn't fit either one so I may be wrong.

@firstlast1732 2 ай бұрын

Put the playback speed at 2x the speed and it’s still too slow

@davidpowell3347 2 ай бұрын

20:00 probably not just a cell phone but a true miniature computer with wireless Internet connection -- State Man (trooper) should be allowed to administer a full 6 week suspension of driving "privileges" for this kind of behavior even the common talk only cell phones were causing wrecks should cars contain some kind of jamming technology preventing these devices from operating while the car is in motion ?

@chrisforker7487 2 ай бұрын

That seems awfully low that only 50% have CC debt!

@tbarc1 2 ай бұрын

I pull totally off road into a parking area to use my phone!!!! Not only are people hazardous on a highway...but I seriously make the stationary stop sign flag arounds OR wave me through so they can finish texting know that my opinion of them is "what an Idiot!!!"

@bradleyvanzile1111 2 ай бұрын

I do not have a cell phone and it does not bother me

@christopherhoyt7195 2 ай бұрын

It just blows my mind that Clark himself stated that 50% of Americans are in credit card debt by living "ordinary" lives. Most have no plan to get out of it, and most are still using credit cards which means most people are not cut out to be cardholders. Then he turns right around and tells somebody (and half his audience that shouldn't be encouraged) how to get more credit cards with higher limits. I agree the debtors shouldn't be ashamed, but the public figures encouraging credit card use and leading people to risky places should be. JL Collins put it best, "credit cards are like chainsaws, extremely useful, extremely dangerous." There should NEVER be a recommendation to get or use credit cards without HUGE warnings ⚠️ like chainsaws have.

@FlagstaffChief 2 ай бұрын

I see your point. Clark was replying to a specific situation for a person with excellent credit who only wanted to increase his credit limit to $3000, and he DID talk a bit about a debit card as an alternative. I’m surprised he didn’t suggest joining a credit union and getting a credit or debit card through them.

@YIWOTY 2 ай бұрын

Clark, I think you're being naive that Americans in credit card debt are "just trying to get by." A significant portion (likely a majority) of those up to their eyeballs in credit card debt got there because they think they're OWED certain things, regardless of their income. Like an Apple Watch, daily Starbucks, driving a new car, vacations, eating out multiple times per week, etc. Perhaps your circle of friends is too conservative, or too old, but ask your staff about the spending habits of THEIR friends and family members. I'll bet you get some interesting stories.

@grayfox9911 2 ай бұрын

Thanks Clark & Team! NNTR

@kdk38 2 ай бұрын

I physically had to go into the store to downgrade my Costco membership. I was sick and barely could stand. The clerk said it was because she had to give me cash for the remaining balance. But they send the Costco checks in the mail… it was definitely no-service.

@dondenis1500 2 ай бұрын

This inflation was all caused the political people in power making stupid dissuasion. Did we have this problem 4 years ago with skyrocketing prices on things like insurance, groceries, energy and other basic products and services we all use. We need a change in leadership to at least start the trend to right itself.

@Johnwall810 2 ай бұрын

Love this podcast. But Clark’s reaction to debit card is a lot of drama. If people used debit cards instead of credit cards, then people would not have to worry about 25% interest. Also, you will not spend as much because you Can’t kick the can down the road and worry about paying it “later”. I learn so much from Clark Howard and his team, but honestly, the snowball method that Dave Ramsey teaches is the best way to get out of debt; but you have to be committed on getting out of debt. You can’t play paddy cake with your debt and expect it to go away. Debit cards offer the a good level of protection without the worry of running up tons of consumer debt online or at retail stores. Also, it doesn’t matter how much money you make, get on a budget. Tell your money where to go and that itself will give you freedom. Clark is 100% right about shame, don’t feel shame about your debit, acknowledge it then attack it and defeat it. Blessings to all

@elitepctech 2 ай бұрын

23K Hyatt points for a $500 / night room is excellent redemption value.

@DJones1812 2 ай бұрын

As someone that loves driving, I wholeheartedly disagree with Clark on the driving with cellphones. I spent my childhood learning to drive appropriately on go-karts, dirt bikes, and jet skis, along with driving simulators (actual simulators, and video games like NASCAR, even GTA, which is close to driving in Atlanta). I unabashedly drive with my cell phone on the interstate (unless it's a place I'm not familiar with). The issue is giving people licenses without any road instruction. No sense of the flow of traffic, or what your vehicle can do, and being aware of people around you. It's not the cell phones or the power of the cars. Because neither of those deal with the idiots doing 5 under in the left lane of the interstate or highway.

@Clark 2 ай бұрын

We completely welcome differing opinions! Be safe 💚

@jasonjaskey 2 ай бұрын

That person with the 810 credit score...I'm sorry to hear that, that must have cost them a hundred thousand bucks...do they even have $810 cash or in a bank?

@ESUSAMEX 2 ай бұрын

We should make driving and texting a felony. I hate my cellphone and I wish it was never created. Once people start getting convicted of felonies, people will stop using their phones in cars.