Honey, You're Broke! (You're So Broke You Live With Your Parents!)

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[@TheRamseyShow]

Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3hc6Pgt

[@rodneyburt8843]

I would talk to this kid like that. This kid is a young fool with no common sense.

[@toolbrothers1477]

This fella is a loser. He talks like he makes 100k+ but makes $17 an hour

[@eileenwatt8283]

Dave needs to tell these people the difference between Net and Gross pay. He also should break down the expenses of owing a home . The guy has no idea about home ownership. He wouldn't qualify for a mortgage anyway on that salary. Any house he purchase on that salary will be a money pit headache for him. It will be so old. He has no idea.

[@andrewhall6401]

You can hear the entitlement in his voice

[@aarondavid5866]

the answer dave is save save while you stay at home for 2 more years or so. old head. moron moving out means more debt

[@MalcolmXtreme]

When Dave calls you honey when you're a dude, things are BAD.

[@choreomaniac]

It’s the equivalent of “bless your heart”

[@chrissaint-victor1606]

It's the equivalent of a female calling another female 'sweetie''. That's tuff

[@barbieblue3336]

Yes lol

[@catlady2795]

Lol ! 😂😂😂😂

[@0103259]

😬🤣🤣

[@buibuibuirockineverywhere8701]

When Dave calls a grown man HONEY 🤣

[@StevieT2411]

"I got a really good job i make $30 grand a year!" I bet he doesnt listen to Dave and tries to buy a house anyway

[@SS-fs3wo]

Renting is throwing money away but that might be all you can do.

[@79bnice]

You can tell by him living with his parents and not paying any bills, the plan is to save and buy a house. It could work, just pay off your debt and save up for the down payment. Make sure it's a house you can afford.

[@CarlosAlberto-xx3of]

It’s not just the mortgage payment, there’s utilities and extra expenses that a house requieres. And let’s not forget the yearly Property Taxes.

[@choicemeatrandy6572]

The plan for him was to get a mortgage and leave his parents. Bad plan cause he doesn't get that a mortgage is extra debt.

[@aimeevargas4016]

Love the title, honey!

[@azamab]

Dave definitely not suggesting to stay put in parents house..the caller needs to learn the university of hard rock I reckon

[@ellenlee1]

if he buys a house the first something that happens and you need money, you will lose the house. You need money in the bank before you buy a house. you are broke and poor as can be.

[@marcelle215]

Im 24 with a toddler, making $35k/year and $20k in debt.....should I buy a house? Tf?

[@ClaxtonBay123]

This is why we need Dave. None of the other hosts will ever talk straight like this to a caller.

[@BagsNBaguettes_327]

And say honey 🤣

[@mamajojovegan]

Yes I agree

[@HamiltonRb]

@@BagsNBaguettes_327 If he called this kid honey one more time, I think his wife would be jealous

[@Orangetiger78]

Love Dave! He says it straight!

[@Scott-got-caught]

Its called being ruthless

[@stephaniehall8179]

The way he was hyping that new job I was expecting him to say he makes 100k a year. 🤣🤣🤣

[@jeffyeager4045]

17 an hour LOL this guy hahaha

[@ipenguin3918]

And, he has a "professional job".

[@1005ndc]

😂 right?! And the way he said, “living with relatives” until all the truth came out

[@blockawocka4026]

Lol ME TOO! When I heard the amount of debt and student loans then « 35k », I was like….. is this guy mad ? Or high on something..?

[@Abraham.Lincoln22]

He works at Burger King

[@NightRidah777]

This dude trying to live a lobster life on a cheeseburger budget 🤣

[@Yaya-cl3tu]

Correction: hamburger budget; he can't afford the cheese for the burger.

[@isaidit4720]

😂🤣 that line actually made me laugh

[@its9333]

@@Yaya-cl3tu oof

[@jefegamez6284]

@@Yaya-cl3tu lol

[@selenenp1544]

🤣😂🤣😂🤣

[@perotal]

We all know he is going to buy that house.

[@John3.36]

This is why Mortgage companies make big bux.

[@Primitive_Code]

He's an idiot if he does. It's an emotional decision.

[@eliubfj]

Exactly

[@jefegamez6284]

I feel like he is but then after realizing he just put himself into more debt he will regret his decision and realize David was right

[@canicksmith6629]

They would approve him for maybe 100k if he was lucky; he might be able to afford a double wide.

[@Julian-zc9vm]

This kid is all over the place and thinks he’s going to live the American dream on a $35k salary. I think the problem is that he’s never managed a household or owned a house before to see how expensive it is. He feels like he needs to make moves to build a foundation for wife and kid but the reality of his debt to income ratio won’t allow that to happen yet. He needs to double his income and get out of debt before buying a house.

[@EarlyBirdCraft]

He probably indulges so much since he has no bills to pay 🤦🏻‍♀️

[@stevenporter863]

Caller needs to stop dreaming of how to spend money he doesn't have and focus on getting the income up. Build a foundation on $35k?

[@flamefusion8963]

35k is pretty average for his age. Problem is that people his age aren't buying a house.

[@stevenporter863]

@@flamefusion8963 Trying to run before learning to walk.

[@christinebutler7630]

And he better get cracking and get a house in a decent school district, because this kid is going to need to go school in two years, unless they homeschool. And he's an only child, so unless they want him to grow up totally weird... So, they need good schools. And renters don't get good school districts.

[@taahdaah3813]

Dude is delusional. He won't be taking any of Dave's advice because he thinks he knows it all. He only called in because he wanted confirmation on a decision already made.

[@ricko2301]

💯

[@gregorypeterson9]

Yeah, that's okay I too was delusional 🤪at that age , but once reality started smacking me in my face that quickly changed and I realized I didn't know everything.

[@arga400]

Caller will be back in 10 years crying about how they are in 200k of debt and how they lost their home.

[@DoctorSmartyPants]

Well, he will find out when he contacts a lender and finds out he needs a down payment and a strong (low) debt to income ratio.

[@TheFlyingZulu]

He shouldn't take Dave's advise here about moving out really fast and renting. The caller is right, renting is throwing away money and if you can live at home for a bit longer and SAVE that renting money, that's what the caller should do.

[@Madlyn55]

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??>>>>>>

[@Annis-co7vu]

I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,..

[@AudraZapoticky55]

how do I get in touch with this consultant that assist??>>>>

[@Annis-co7vu]

STEPHANIE KOPP MEEKS, that's whom i work with look her

[@AudraZapoticky55]

Thanks for these recommendations.....,,,

[@cutlerylover]

Reality bomb...Its hard when you think one way and you talk to someone who thinks completely different...I hope he took Dave's advice...Or at least pays off all the debt while still living with the parents...No one wants to sacrifice but they still want to get ahead and it just cant happen unless you get lucky and win some money or have a rich person who feels bad for you lol...

[@elizabethallen4353]

I question the reality of the wife working 30 hours a week with a 3 year old at home. But every little bit would help.

[@sbman436]

Living rent free at your parents is a blessing in disguise. What he should do is talk to his parents about helping with the kids for one year as they hustle their way out of debt. I think you can pay off the debt in a year assuming cooperation

[@jhopkins213]

@@elizabethallen4353 You should question the reality of most of the advice Dave gives. He lives in Fantasyland.

[@JL-fo9rz]

@@jhopkins213 He lives in Baby Boomer Land.

[@qdp03]

What are you carrying today?

[@pjsaki4797]

Dave called that dude “honey” twice. 😂 That’s one broke honey!!

[@nryanmusic]

i died

[@JewelBlueIbanez]

I was expecting to hear a female caller.

[@brokefarmerjohn2422]

Called him honey so much I thought Pooh was gonna be a guest speaker

[@KennTollens]

He says honey to insult people.

[@jayb.8460]

A broken honey pot.😅

[@dancebrittany23]

THIS is why we need more Dave.

[@RonnieColeman80]

I couldn't have said it better

[@icelineman]

Like jo Jack on KOTH

[@zappyeats2579]

More like why we don't need dave. Horrible video; no advice just belittling a young man.

[@RonnieColeman80]

@@zappyeats2579 no advice? How about not getting a mortgage cause he's broke af?

[@dancebrittany23]

@@zappyeats2579 Have you even listened to his older videos? He is ruthless lol

[@margie909]

He has such confidence and certainty for someone making minimum wage, raising a child, spouse not working, and living with his parents. So interesting. It sounds like he has raised himself up to a higher level than what he grew up around. Just the pride when he said that he and is wife are still together. This kid could really go places with the proper mentoring. Please keep reaching higher, you're just at ground level, especially if you want homeownership. You can do this, just follow Dave!!!!

[@ricko2301]

Exactly as I was thinking. All this chat for only 35ka year

[@mirabella2154]

It's called being delusional.

[@drivingmylifeaway7149]

17 dollars an hour

[@monicaturner5920]

What is minimum wage where you live?

[@jazminhiggins888]

Agree wholeheartedly

[@srybolt1988]

I’m sorry but every time I hear someone talk like this about themselves it throws red flags. Dude has a 35k salary and is talking about it like he’s the CEO of a Fortune 500. May be a personal thing from people I’ve dealt with in the past but I just get narcissistic vibes.

[@luis56224]

Have a feeling he’s not gonna take Dave’s advice. He had so much resistance to renting

[@talyahr3302]

That's why he's in his parents house in the first place 🤦🏾‍♀️ All makes sense. He doesn't have to pay rent there.

[@patty109109]

He’s meeting with a realtor this afternoon.

[@MrTmenzo]

35k, 20k in debt and I doubt he has a down payment. I'm sure the mortgage banks will laugh at this kid.

[@eckankar7756]

He didn't call in for answers he called in to have his own thoughts validated.

[@neelabhchoudhary2063]

That’s what I was thinking. Would haves loved to hear his response after Dave set him straight the second time

[@bartlemi5]

This poor young guy is living in a dream world. He really thought he was doing OK and Dave just laid it out for him.

[@fr5229]

I just feel bad for his kid. There’s a lot of people like him

[@Riggy931]

@@fr5229it’s one of my issues with Dave. I’m all for working hard and making it happen but he makes a lot of claims about society as a whole. The average income in America is 60k and that’s with two people working most of the time. The reality is that guy has an average job. But to Dave and people that share his believes, he’s making way too little no matter what. Well what happens when most of America is making that much? And what happens when you support a business’s right to pay their employees as little as possible? When the answer is always, “make more than the average joe does” maybe there’s a problem with our system.

[@stephaniehall8179]

The look on Dave’s face when he said 35k salary😂

[@Prod1jbtc]

@@Riggy931sound like a brokie there.

[@sgc1401]

@@Riggy931 I think Dave gets it. He said that this couple needs to get their income up to $50-70K. He id not say they need to make $100K or more. Most 24 year olds with $35K a year average jobs don't try to have a stay at home wife with a young kid while sitting on a pile of debt. This young couple has a lot of debt and describes it in a way that makes it seem like he thinks it is not that much. Dave was right, this couple needs to get their income up.

[@Jarem24]

“Renting is buying patience while you’re too broke to buy.” Very well said. I’ll forever remember that.

[@bluesky5384]

That’s what I’m doing lol. I only have $27k saved.

[@TheMechanicj]

@@bluesky5384 so your whole life worth is 12 months rent so ur broke ur broke ur broke my friend is the same thinks 27000 is big money lol

[@GiselleLoayza]

I will remember this too

[@FTBASTAR]

If you can live with your parents rent free while saving, then renting indeed is throwing money away

[@barryetherton4889]

I know a guy that lived rent free until he was 25 and now has close to $200 thousand saved.

[@user-qr8bl6kz9g]

Cap

[@nunomartins2209]

Most people in Europe live rent free with their parents almost until the 30s ( not a good situation) but in this economy it's a safe thing until u can really have a home

[@WorldOfMellie]

If he’s living at home rent free why isn’t he saving money? Isn’t that the whole point of living at home 🤷🏿‍♀️ 40K would be okay if he didn’t have a wife and kid.

[@b7Hn4eX8yv4m]

Without a wife and kid, there's not much more to throw his energy into. If not his career, putting in 80 hours per week into his advancement to make much more than 40k, he's doing it wrong.

[@brodelnaz]

40k a year is fine. I make 50 with two kids and own a 430k home.

[@monical733]

I spend it on food n drugs , living life , vacations, I’m not here for a long time just a good time

[@denobarroga]

Don’t forget, the wife doesn’t work

[@TheMechanicj]

@@brodelnaz really you paid that thing off how old are you congrats

[@azteca6695]

If his living with his parents rent free. He should be able to pay off debt AND save money

[@DemetriPanici]

They’ve gotta start living like they’re broke then they won’t be

[@LastChance601]

💯👍

[@admiralackbar4652]

But he already is =P

[@marywebb9127]

@@admiralackbar4652 He is living with his parents and I bet they are helping them out with bills too!

[@admiralackbar4652]

@@marywebb9127 yeah no excuse not to save up

[@culture3687]

The young men is broke don’t start thinking of buying a house yet,pay of the debt first Dave is right.Stay at your parents house till you pay of the debt & your wife needs to a part time job.She can work from home hopefully everything works out for this family.

[@brysonmcguire4021]

I know Dave can't do this forever, but no one can communicate like him. When he leaves the show, it won't be the same.

[@nev2943]

The cadence of his speech told me all I need to know. Slow down and think caller.

[@specialteams28]

The caller knows how to talk, doesn’t now how to think or listen.

[@uberboiz]

Couldn't agree more.

[@edkennedy7952]

Lol, just like all of his other callers.

[@marshalllaw5349]

He's not going to take their advice.

[@autistic-lutheran-carnivore]

Yeah, Dave's advice went in one ear and out the other. We saw that in real time.

[@jimroscovius]

I agree. He just kept yakking about buying a house.

[@TheAgentmigs]

Not only that but, I doubt he's going to try and make his wife get to work.

[@macneoh7418]

His wife is on zillow right now looking at $450K homes.

[@coolaunt516]

@@macneoh7418 lol you're probably right.

[@benedit71]

I am so broke that I go window shopping at the dollar general.

[@BuIIet]

When he called it a great job based on "401k, PTO, Bonuses" instead of being up front with his salary, I knew where this was headed.

[@danielkim7841]

Moral of the story: when Dave starts calling someone Honey or Honey bun, they are probably broke as a joke and Dave is reaching for that southern switch from a tree branch to do some financial spanking!

[@IRISH4486]

His broke unemployed wife is pushing him to buy a house cause she’s sitting at home all day doing nothing and is being watched by the parents. Who are getting sick of her raiding the fridge every five minutes.

[@ricko2301]

🤣🤣🤣 bingo

[@EarlyBirdCraft]

🤣🤣🤣

[@eckankar7756]

She's going to be looking for another man that can provide for her soon.

[@gbb82]

This is so spot on…..It’s the stupid wife.

[@wmurray003]

They could just rent as Ramsey has said to fix that issue.

[@davebrown5130]

Nothing like thinking you know it all, being broke, living with your parents, and being called “honey” by Dave Ramsey!

[@danielpapitocarrionjr.4048]

FACTZ!!

[@SirD1]

hahahahaha

[@haywood4299]

This is why you dont get married or have kids until you are financially stable. This kid thought he had it all figured out and thought he was going to get the seal of approval and instead he got a reality smackdown.

[@drivingmylifeaway7149]

He is super confident. Parents must really shelter him

[@Hawaii567]

@@drivingmylifeaway7149 100%. His parents are probably extremely naive as well. I couldn’t fathom being married and having a kid at 24 flat broke in the modern era. This isn’t 1940. I know the kid wasn’t even an accident either which makes it even worse because it was a conscious decision.

[@canicksmith6629]

@@Hawaii567 I think his wife would of been pregnant when he was 20...yikes.

[@mysticaltyger2009]

How much you wanna bet the kid was an "accident"?

[@1irustim]

"Reeeally nice job" @ 35K. He must've worked at a grocery store for a while.

[@edkennedy7952]

He meant 'easy' and thats what they want.

[@SisyphusJP]

Saved 150k and paid off all my debt Dave, I’m sticking with it. Living with my parents has been a great way to save. I built a apartment in the basement kitchen + bathroom

[@2legit2Kwit]

Not bad

[@tbaby0307]

That’s great. The difference is being single living with your parents versus having a family living with your parents. I’m sure that the wife is saying to him “we need our own place. You have a better job now, let’s move.” Typically Dave says stay with parents, pay off debt and save to move out. In this case with him having his own family Dave knows this wife wants to not live under her husband’s parents roof. This kid is being pressured by his wife I’m sure.

[@yuhboi8559]

There’s nothing wrong living with your parents tryna get your money up

[@eppsislike]

@@yuhboi8559 true, especially in these times. It caught a lot of people off guard.

[@MS-ey3lb]

@@yuhboi8559 I think there is when you have a family. Of course as a parent I would 100% be available to help my kid. The difference is if my kids has a job and just wants to stay in my house to save money...nope sorry...if you make money its time for you to fly and handle adult situations like an adult.

[@AlexanderBeenGreat]

This was hilarious. He's really trying to go from living at home to buying a home. 😂😂😂🤣🤣😭

[@glenn8861]

The “We’re still together” about his wife made me laugh so much

[@QFUNNYNEWS]

Dave: "And honey y-you're so broke you live with your parent's". "That's how broke you are". 🤣 ouch

[@matthewgardner2144]

LOL

[@edhcb9359]

“I just got a REALLY NICE JOB”…making $35k to $40k? 🤷🏻‍♂️ Seriously? 😂

[@brodelnaz]

Yeah that's a great starting point

[@TheDjcarter1966]

That like $15-20 an hour not much to brag about these days

[@wturner777]

@@TheDjcarter1966 Nowadays $15 an hour is not going to be enough, and you can't make it anywhere on your own if you're working for minimum wage.

[@shanedubiel6874]

more than what most people make

[@edhcb9359]

@@shanedubiel6874 Actually no it’s not.

[@mxerb5912]

35k with a college degree, you need to set your goals way higher. That’s minimum wage. But this guy acts like he’s knows it all

[@Joseph-ub5wh]

What college educated person doesn't act like they don't know all? It's the ego and confidence instilled in them.

[@macneoh7418]

@@Joseph-ub5wh are you trying to tell me my degree in lesbian dance studies doesn't make me intelligent?

[@Joseph-ub5wh]

@@macneoh7418 Never mentioned in my comment about intelligence. Degrees just make everyone overly confident and egotistical. Many who study great professions are able to gloat but others it depends on the circumstances. If you're able to put your degree to use in a profession you didn't study that just wants a degree holder I give you props.

[@cutehumor]

min wage? he makes $16.82 an hour bruh

[@mxerb5912]

@@cutehumor bruh McDonald’s is paying 17hr

[@bebop504]

I'm not broke but I still kind of want Dave to tell me "Honey, you're broke" 😂😂

[@COINsimp2024]

Dave calling another man honey...😂 Ladies watch out for men like this who talk a lot, and have nothing to say, always broke.

[@estyria5961]

We went from living in the in-laws basement for a year to living full time in an RV just to get the heck out. It's been a huge adjustment, but it was worth it to get away. It's a hybrid of owning/renting. Own the RV, rent the spot it sits on. Naturally the RV will go down in value, but in these lovely, unstable job times we have the freedom to go where good employment is without worrying about keeping a roof over our heads.

[@Thebootyrater]

Why are people in their 20s so obsessed with the idea of buying a house? It will cost more then a apartment when you factor in maintenance and all the fees you have to pay. There is nothing wrong with renting through your 20s

[@johnlanier3616]

People don't realize if your mortgage is 1,200 only a very small percentage goes to the principal.

[@adrianmechelle3784]

Societal pressure. Everyone is getting a home around you and if you feel like you have to get one or you are behind or have failed.

[@aolvaar8792]

Answer: 25% YOY appreciation, My $200/mo mortgage, 12 years ago Rent for my house is now ~$3000/mo

[@jonymanay]

They have this crazy dream of having a family and owning their own home.

[@millennialsecularandauthri3338]

Boomers have priced us out and we want them to die.

[@talyahr3302]

He's been so broke his entire life that he thinks 40k a year is a lot of money. It's good money, but it's not a lot. Definitely not enough to think of buying a house.

[@johnlanier3616]

I think you nailed it.

[@choreomaniac]

And that’s with a 5k bonus in this job environment. He needs tot air a second job and his wife needs a job too. On three salaries making 80k total they have a shot at paying off debt and saving a down payment.

[@brodelnaz]

I make 42k a year without over time and I have two kids. I own a 430k home. It's how you manage your income.

[@aolvaar8792]

@@brodelnaz My $50K house >>> $500K in 12 years. Had Nothing to do with "manage your income"

[@brodelnaz]

@@aolvaar8792 what?

[@teeduck]

He’s immature. Having babies making minimum wage. Living with mommy

[@edkennedy7952]

Sound like 80% of the pop, nothing new here.

[@trent797]

Dave blazing the trail for calling men "honey".

[@TheAgentmigs]

Power move.

[@HamiltonRb]

If he calls a guy sweetie in the next video, I'm calling Dave's wife

[@smokinhalf]

lol I call men under 20 honey all the time. Never even gave it a second thought. I guess I am old. I call older men brother. Myself nor anyone else sees it as weird.

[@HamiltonRb]

@@smokinhalf Im sure some others think it is strange, but don't say anything, or most don't even catch on. It's like asking someone how are you doing, but you really don't hear the answer anyway.

[@RGTFLA85]

I rented till in my early 30s. My sister bought a townhouse in her early 20s. We are both doing well. It is all about what you can afford. No shame in renting as long as you want to.

[@Mr_Banker222]

I’m a loser in life, I live with my parents wish I didn’t tho

[@1timothydillon]

Dave: How old is your baby? Caller: It will be three years in December. Me: Pfft, it?! Didn't you just say your baby is the pride and joy in your life?

[@berlintapondjou3744]

Good luck buying a house with a 40k income in America dude. The best thing is that he is gotten a thoughtful plan and just need to prioritize on getting a better income. Congrats!

[@estyria5961]

I mean, it's doable, in the boonies. I'm not sure he wants to live in the boonies though.

[@Alex-qx4qw]

40k income bought a decent one Ohio that’s 80k. But I also had the benefit of not having any debt or a kid.

[@bangladeshirealtor]

u can easily do it . use the NACA program , minimal costs out of pocket .

[@gvanys]

@@Alex-qx4qw 80k what part of Ohio is that house in must be in a bad neighborhood or a rural area.

[@superwhitt21]

income isn't as important as debt to income ratio. I know people who were approved for 300k with 50k income. I also know people denied 200k loan with 100k income. how you handle debt is telling....

[@Ant_Lambo]

"Renting is buying patience while you are too broke to buy" >>> I love it

[@robe8607]

Renting is only throwing money away when you live outside your means and the rent is so high it prevents you from ever saving enough for your hone. I was 18 with a new born working 60 hours a week and going to school making 40K I know the type of place you have to rent to be able to save and boy they are not nice but thats motivation every day to save and pass taco bell on my way home and go eat some Ramen. 30s now with a decent starter home with 50% equity and no other debt and yeah it finally feels like the chips are starting to stack. Worth every sacrifice so when my son goes to school he can just focus on school.

[@cutehumor]

Ramen noodles are delicious

[@TheDjcarter1966]

She has an international business degree? She needs to go get a job now! I might even intern for free on a three month contract to get experience, even if all she can swing after that is an entry level or executive assistant job that at least $50k and you should be able to swing more than a $15/hr job with everyone that is hiring. Get the income way up asap.

[@rjh6037]

Why is this guy trying to make power plays? He makes $35K and has 20K debt. Dude needs to get with the program.

[@Dis_is_fine]

I don’t think my dude realizes the expenses that comes with owning a house. Renting a place for $1000 month will definitely be cheaper for your family

[@robertclontz3728]

His real problem is that he's...not....listening! How many times did they tell him to stop this and do that, only to be met with, "Got another question"

[@Slurm_Daddy92]

Dave randomly started calling everyone honey lol 😆

[@John3.36]

Honey aint that true.

[@zunedog31]

Everyone wants a mortgage now that mortgages are at record highs.

[@TheAgentmigs]

People want what they cant have.

[@Weakeyedominant]

First time buyers are better holding off for two years because when these interest rates start to climb anyone who has stretched themselves in going to feel the pain if they are not on long term fixed rates.

[@alinatamashevich3354]

All that low cost money is being burned by sky high real estate prices, still no free lunches.

[@gothie09]

I dont see how renting an apartment is a waste of money. It's a roof over your head until you get your life together. I've always rented and I dont care because it's a roof over my head. I'm dry, warm during winter, and cool during the summer. That's all I'm concerned about.

[@Rashaadthegr8]

People don't even own a car but they want a house smh.

[@Sizukun1]

Whenever people say 'renting is throwing money away' that means they know nothing about owning a house. No matter what your mortgage is, you have to spend another 25%-50% of that on repairs, maintenance, slight upgrades, etc like clockwork. Oh and you never see that money come back to you either because buyers don't care about you spending $5000 on repairs.

[@patty109109]

Facts. Also they've never looked at a mortgage statement. Virtually all of the payments at the start of a mortgage are not into the house, but rather interest and taxes.

[@stevenporter863]

Facts

[@nocciolina]

Well said!

[@twinturbo3461]

Don't forget, just getting your foot in the front door of a purchasing a home is a challenge, you gotta get a lawyer to do all the paperwork and law stuff, that's gonna cost you somewhere between $3000 - 5000, if it's a new property and you had a home builder build it from ground up, your paying property taxes for the year it took them to build and you didn't even live in it yet !

[@Sizukun1]

@@twinturbo3461 I've never heard of anyone needing to hire a lawyer just to buy a house...

[@Ovulations]

I hear where this guy is coming from. Renting is taking away money that could be going towards savings. It’s not the mindset that “renting is a waste of money” It’s the mindset that living with your parents is worse than renting when It’s not. Not always.

[@Ovulations]

John Bernard I think a lot of people forget that there are family units out there that actually like living with each other. If your parents get on your nerves or if you don’t your kids in their home I get it -but some people really don’t mind

[@MS-ey3lb]

Why do your parents need to have you in their house? So you can save money?...what if your parents werent there to help?...then you would prob get things done on your own...so then why not just be an adult and get things done on your own?

[@blockawocka4026]

@@MS-ey3lb I agree, specially when this guy had the nerve to marry someone and have a child.. What was he thinking about ?

[@eplugplay8409]

He’s living for free, should be grateful.

[@jefegamez6284]

@@MS-ey3lb well it depends on the culture of the individual as well, but yeah I agreed the best way to grow up is living on your own

[@preston0808]

On top of what Dave and Ken said about renting, you're paying for a place to live. A place to live is essential. Also, wouldn't paying interest on borrowed money be 'throwing your money away' as well? Half of your mortgage payment is 'going into a black hole', isn't it? You're just 'renting' money when you get a mortgage. The point is, that oversimplified and inaccurate slogan -- 'renting is throwing money away' is just mindless propaganda promoted by real estate agents. It has caused many people to destroy their financial lives.

[@wmurray003]

I agree with what you are saying here but you have to understand you're also potentially building equity when you buy a house also.

[@bluesky5384]

@@wmurray003 Yes. That’s why the goal for renters should be to rent in order to save for a down payment on a house while being able to provide shelter for yourself. I’m doing it in a nice studio apartment in a nice area.

[@cashisqueen3825]

You know, you’re exactly right- what do they think paying interest is!!?? 💯

[@drod40]

“Only 20k in debt” 🤣🤣🤣

[@WorldsBestFisherman152]

Thats nothing

[@drod40]

@@WorldsBestFisherman152making 30k a yr 😂

[@WorldsBestFisherman152]

@@drod40 seen far worse

[@ruthirwin8222]

Yea and only mak8ng 35

[@djpuplex]

The wife just decided to stay home. Ie she don't wanna work. This guy has a wife problem. Wow she has a business degree and was decorating cakes. At least Dave called out the wife.

[@johnlanier3616]

These women go to college but only want to work at jobs that are easy. Feminist never told them that Men work the jobs that pay the bills but often times hate their jobs.

[@djpuplex]

@@johnlanier3616 she's sure got herself a good simp to go out and toil when she decorated cakes. Sad he only makes $35k a year, I'm sure she won't try to upgrade that while getting child support from this poor fool.

[@johnlanier3616]

@@djpuplex He needs a reality check. He seems like a nice guy but he needs to open his eyes

[@stevenbeach748]

A lot of women want the glamour of being a professional but when they have a kid they use the kid as an excuse to justify them wanting to be a stay at home mom. So they borrowed all that money for school, get a professional job only to quit a couple years later.

[@johnlanier3616]

@@stevenbeach748 lol but so true

[@walkietalkie1973]

Don't live rent free at your parents house. Help pay some expenses that occur at their house. Light bill water bill gas bill groceries. Make a contribution even if your not paying rent. You can still save and pay off debt.

[@ithinkigottalent4047]

DON'T RETIRE DAVE!!! WE NEED YOU TO TALK SOME SENSE INTO US 🤣🤣🤣🤣🤣

[@rachelharrison7961]

I wonder why Dave is so opposed to multi-generational households. Since the caller’s parents are probably too young to be retired, having a SAHM in the house means that they can have someone there to help with the housework. Having an adult home during the day is an extremely useful thing, as anyone who’s ever had to schedule a repairman knows.

[@ChicagoTRS]

It really depends if that is what the parents are looking for. Do the parents see it as a blessing to have their 24 year old and his family at their home or are they of the mindset of, "when is this kid going to get his act together and move out." I do agree in the right set up multi-generational living can be a great way to pool resources and raise a family. But it does take the right family dynamics and the right property.

[@E36ASAP]

He's just old school minded! Many cultures have multi generations in the home and when they're ready they move out and everyone helps each other but Dave is of the 18 and you're out the house start living and also everyone has to get married haha marrying someone without knowing how they really are is what causes problems live with a person and see how they really are.aleep.overs aren't the same as living together

[@John3.36]

You leave your household to start your own household. It is a psychological difference. When you are on your own, you are more responsible, you own your own problems, and you grow up. If you live with your family you still have a childlike mentality. In the USA we have opportunity to be independent. It is time to grow up.

[@warrioroflight3813]

@@E36ASAP Dave's a Godly man, he guides his kids and people who work for him through the straight and narrow path. Just look at Rachel, she's a great daughter mother and wive. His way works!

[@E36ASAP]

@@warrioroflight3813 🤣🤣 sure on the spot yes behind doors all all those that have exposed him he's one way on camera another off but i get it and yes it works but also his advisors told me to dump all my savings into stocks haha that's the dumbest thing to do!

[@vladamirkb1]

Buy gravy and pour it on the doggy kibble. That will make it easier to eat.

[@autistic-lutheran-carnivore]

As much as I want to disagree with Dave Ramsey about getting out of the house because having no rent with an income is a great saving situation, BUT maybe he has a point in another way that rent payments are the training wheels of making mortgage payments.

[@kingbran923]

Yes they teach you independence in a way you don't get while living at home. My brother finally moved out of our parents house after living there with his girlfriend for over a year, his gf didn't want to rent because to her it was throwing away money and they used the excuse of "we're saving money" by living with my parents and all they had to show for over a year of "saving" was 3K. They weren't saving they just didn't want to move out and pay rent. Finally we convinced them to get an apartment and now that they're out, they love it being on their own. My brother is finally starting to see what I've been trying to tell him for months, all because he moved out and grew up a little.

[@jefegamez6284]

@@kingbran923 there also people that pay rent living with there parents. I think the biggest luxury you get is not being influenced by them any more when you move out

[@ttu888didfitrhondavigil8]

Tough love. You are a broke kid living in your mom's basement. This kid doesn't get it. Honey!!!!! 🤣😂🤣😂🤣😂

[@robloxvids2233]

The bigger issue and elephant in the room is his young wife has already thrown in the towel on work. They live at home and the kid's 3. Let the grandparents watch him and go work, girl. They could be debt free in 18 months. I say stay at home and use the free child care while you get out of debt.

[@DoctorSmartyPants]

The grandparents are likely in their 50's and likely working. But seems like as a multigenerational family, they can work out a plan where each adult gets to earn a living.

[@kathygarner8897]

What I find interesting is that this young man has probably never made a rent payment in his life. He needs to rent somewhere for a year to understand the never ending payments to a mortgage company 12 months a year for probably 30 years.

[@schang5413]

Also, this young man doesn’t seem to understand that when you’re renting and something breaks or leaks, it’s the landlord’s responsibility. When you own the house, and the roof leaks, YOU got to pay for to fix it.

[@randolphbehm877]

I think it would help him to understand how a mortgage payment is broken down. Especially at the beginning of the loan and if you don’t save at least 20% to put down. My house is paid off now but I started my mortgage when I was 22.(I am old now) my mortgage payment was $750 at 6.875% back then. It blew my mind knowing that less then $50 of that $750 would go towards principle every month. Dave should make a baby steps of home buying... Identify a home cost, type, and location that fits your family’s needs for the foreseeable future. Power save 20% while cheaply renting. Have a fully funded emergency fund before signing for the loan. Start sinking funds for all limited life appliances and home features.

[@hejiranyc]

Well... I bought my first single family house while making $37,500/year... 27 years ago!

[@CB-px8el]

"Renting is buying patience while you're too broke to buy" DR

[@bcyc2004]

A family with a salary of 35k a year in a low cost of living state still consider poverty. I can’t believe he thinks it’s a good living.

[@eduardodominguez1486]

There's so much more expenses in owning a home that no one talks about. It's not just paying the mortgage.

[@stevenporter863]

Facts. It is vety frustrating how many people compare apples to oranges when comparing renting and home ownership.

[@MijoShrek]

Exactly, the repair and upkeep depending on the quality of how it was built. Most older homes have quality materials than newer ones. If you're not a handyman kind of person, contracting everything out will deplete you so fast. Utilities and property taxes. People are arrogant selling this home ownership narrative as if entire generations didn't live through 2008 housing crash and think we just are blind to the how this system ir rotting. Regular folks did not cause the economic messes, financial institutions did. Rinse and repeated.

[@DaveM-FFB]

Most Americans never received a financial education in K-12, or even in college. This caller has negative net worth. Yet he doesn't equate that with being broke. He called in to ask "how they can get deeper into debt (with a mortgage)?". Literally many $15 books at B&N can provide a basic financial education.

[@David-xb9kg]

So he's broke and in debt but Dave is telling him to go rent? While his parents are willing to let him stay rent free.

[@moise7648]

A married man shouldn't live in mom house

[@yuhboi8559]

Only cause he’s married has a wife and kid

[@popcornchicken5552]

He should just stay at his parents until he saves up enough. There’s nothing wrong with staying at home even if he’s married with a wife and kid.

[@Rolexenforcer]

​@popcornchicken5552 if he's not helping his parents with the bills then yes there is something wrong with that. They are subsidizing his lifestyle and his mistakes. When i was 21 i made the bonehead move of getting my first longtime girlfriend pregnant, the first thing my parents told me was that since I made a grown-up decision (by getting her pregnant) to go ahead and put on my big boy pants, man up and handle my business. I was smart enough to realize what they meant and never even attempted to ask them to let us stay with them, I got a second job and didn't look back. After moving in together and the relationship didn't work out my parents allowed me to move back but I had to help out with a significant part of the bills and I did. I have the greatest parents in the world, I can and do talk to them about absolutely everything. That was the one time they held their ground and I'm glad they did.

[@LetsTalkPersonalFinance]

Pay off debt, increase your income then think about buying a house

[@brucewayne3892]

Thanks for repeating what Dave said. Don't know what I would do without you

[@LetsTalkPersonalFinance]

@@brucewayne3892 lol, you're welcome 😆

[@Black_Jesus3005]

The caller forgets that when renting you don’t have to shell out your cash when something goes wrong with the house vs being an owner you’re 100% responsible.

[@truegrizzlesfan2292]

Sometimes the truth hurts. He's not going to listen. He don't even realize that a house cost a lot to maintain.. he's going to be trap as well if the caller buy a house to early.

[@tanksherman9875]

$35k?! Assistant Managers at Chick-fil-A make double that.

[@VHale-yz7hc]

I made 40k Working entry level management in retail in 2005. This is insane

[@MR3DDev]

Not sure where did the "Renting is wasting money" came from, you are paying for a service. Is like saying paying for gas is a waste of money cause you got wood in your backyard to make fire.

[@Dis_is_fine]

I easily spent more than a year worth of renting a small place just on replacing appliances and fixing things in my first year of owning a home. Owning a home is a privilege nowadays

[@brucewayne3892]

You can't compare renting to paying for consumables. When you pay rent, you don't build equity. You pay for someone else's mortgage. Not saying renting is never good, just saying I can see the argument against it

[@SVSky]

The financial industry.

[@BTrain-is8ch]

@@brucewayne3892 Equity is like a magic word for some of you guys. Here's a quick rule of thumb. If you calculate the annual spend on taxes, insurance, maintenance/upkeep, and opportunity cost and divide that number by twelve you have the maximum you can rent for and still come out ahead financially. That's the money home owners spend each month and will never get back. Equity doesn't matter if the cost I just described is greater than the cost of renting. The disciplined renter that rents for less than or equal to that number and invests the rest will end up with a larger net worth than the home owner.

[@brucewayne3892]

@@BTrain-is8ch yeah except the homeowner will have a paid off home as a secure base for their later years. Once you have a paid off home, your expenses are typically so low you can easily accumulate wealth at jaw dropping speeds. The fact that rich people always own their home should show you it is not a bad idea. But as I stated in my comment, I did not say renting is never the right move.

[@TheSwitchBit]

Dude used 1,000 words to explain a 10 word problem.

[@TheSwitchBit]

@ᴘɪɴɴᴇᴅʙʏ ᴛʜᴇ ʀᴀᴍsᴇʏ oh wow really?? Tell me more!!!

[@tmusa2002]

Whoa! Dave suggesting a mom needs to work!?! RARE.

[@ceecee8757]

Decorate cakes at home! 😁🎂

[@johnlanier3616]

Your wife needs to work. This guy seems very nice but also very lost.

[@femckay]

Buying, Or owning a house takes money to get into and also to maintain! Taxes, repairs, unexpected expenses. This guy needs to listen to Dave. Ai 78 I’ve rented and owned a place to live. Both cost money!!.

[@thetruth5635]

These young kids are so desperate for a home to buy

[@beerkegaard]

That’s what happens when you see rent go up and houses get snapped up

[@thetruth5635]

@@beerkegaard I am in nyc rent is insane and the apartments are trash

[@TheAgentmigs]

We all want our piece of the American dream..too bad thats all it will be for most young Americans.

[@Astro95Media]

I rented for the three years I was paying off debt. It was a secure move because I knew how much it was going to cost at any given time and I wasn't on the hook if something broke. Bought a house after that. One of the best decisions I ever made.

[@eightone91]

Renting is throwing your money away. Dave is wrong on this one. Especially now that rent has such a premium.

[@timothygibney159]

Buying is even worse. 70k a year is the new 35k with inflation

[@Solitude47152]

This guy is gonna be a train wreck. He makes horrible decisions. Maybe when your 34 he can buy a house. Not today.