How To Claw Out Of 100k Debt While Raising Kids - Til Debt Do Us Part 412 - Hog Wild

[@loriminnesota1870]

Gail is VERY GOOD! I like her straight talk. She sure doesn't sugarcoat it.

[@victoriabishop1057]

but she is very honest and pleasant.

[@loriminnesota1870]

@@victoriabishop1057 I agree. But it's funny how many of these people are mad about what she said when she tells them the truth! LOL!

[@ayela562]

This was 20 years ago too! They should have been doing very well with 140k income

[@nenavice9903]

they had disposable income. in today's world, they'd be paying 100k in rent and living off the rest.

[@cabayern9416]

Too much shopping.

[@janebaker4912]

Poor son hearing the problems he has no control over or power to change. The adults need to step up.

[@prudencek7087]

Did the wife really say that they're selling their life? Ma'am if those things are what your life consists of then you have way more than a debt problem. And considering they truthfully owned none of it outright... their life was a facade.

[@cabayern9416]

She is so blasé and casts a lot of blame on him.

[@nakkalinaani6464]

Gail’s screen presence is therapeutic

[@raymondcunanan1135]

I feel the same

[@Vic-nr2jz]

Well said😊

[@stephdcc788]

Why didn’t they just rent the house out and sell the motorcycles and then pay their debt off within a year or two….. 🤦‍♀️

[@eb9844]

The house was already rented out. The rent money was being used to pay the mortgage. I agree, they could have sold a bike, or two or three….

[@tiffanyroberts5993]

They said that the motorcycles were leased so if that is the case they can’t get out of the contract. They didn’t specify how many were leased though.

[@jb6712]

@@tiffanyroberts5993 I thought they said their two cars were leased, and that they bought the bikes...?? I must have heard it wrong.

[@phaldaz]

Thanks for these throwback uploads! This show was awesome, seeing it revived with all these apps/services for hire would be interesting

[@jb6712]

Gail has no interest in ever going back into tv, so they would have to have someone else do the shows...making them not at all the same thing.

[@parklady4233]

She said that their lifestyle had a lot to do with the way they were a couple. I think a lot of people broke up during the pandemic because their ability to be a couple had to do with their lifestyle. They couldn’t go out and they were no longer a functioning couple.

[@jb6712]

This was back in 2005 to 2009 that the show was made, so was far, far from the pandemic.

[@NaturallyKristen86]

He would rather sell him rental property over his toys?? I would give my car back before I sell my investment, he’s crazy

[@nanettemorton4054]

My guess is that it's because the toys depreciate as soon as they're driven off the lot. He may have rented the house out to tenants, but by the time he paid taxes and upkeep (and the interest on all that stupid consumer debt) it may have made sense to sell the house and use the money to pay off the high interest debt.

[@cdogvlog5557]

@@nanettemorton4054 I bet that house has probably doubled in value since 2006 or whenever this show was and all those motorcycles and things even if they hold their value cost money to maintain.

[@nanettemorton4054]

@@cdogvlog5557 ​ True, it definitely appreciated in value . But I think maybe he decided to use the money from the house to pay off the debt because he didn't think they could keep up with the payments + massive interest from the consumer debt. That's maybe why he did something drastic. I also wonder if he sold the house because it represented the former relationship. The house isn't just a house -- it's part of his former marriage.

[@cdogvlog5557]

@@nanettemorton4054 Yeah. Anyway the reason I came up with the year 2006 is because I watched another video where these people splurged big cash on a PDA palm pilot type thing. Not sure exactly when this show was made. But all those big screen TV's are junk now.

[@nanettemorton4054]

@@cdogvlog5557 I can't imagine going into debt for a big screen t.v. There's nothing I want to watch that badly.

[@kittycat3800]

" That which you cannot give away, you don't possess; it possesses you."

[@mardcon2002]

Yeah more Gail. Keep uploading this show, we love it.

[@jb6712]

She's all done with tv, walked away from it when the network pulled some real crap on her when she was doing "Princess."

[@Yensen2020]

So they keep all the wheels and motors that are going down in value and sold the property. This resets their debt but doesn’t help much on paper, especially if they don’t fix the spending - good luck!

[@barnabusdoyle4930]

Liquidate their largest income earning asset and keep all the stuff that will be worthless in 5 years. What an idiotic move. I cannot believe they did this. I also really doubt they weren’t getting positive cash flow out of that rental property.

[@jreinel1966]

150k a year not enough to live wirh out a financial stress?...amazing..!

[@AnnaSzabo]

And this was filmed 20 years ago

[@spaRKLES88604]

No seriously I’m working at Walmart and I’m putting away 600 dollars each month as a 21 ur old and by the time I’m 60 I’ll have over 3 million dollars to support my husband and my kids if I chose so. Just start saving young, you won’t regret it

[@generationx9294]

Man, finally someone who's saving and thinking about their future.. and at such a young age 👌🏽👏🏽👏🏽 People with "degrees" ... with high paying careers, etc.. still don't come close to your smarts and integrity.. and you're still only in your early 20s & working at Walmart.. *sooo admirable* *Big Time Kudos to you* 👏🏽 ❤✨☝🏽

[@Hellothere11681]

Kudos but $600 a month in the course of 39 years is $280,800 not over $3 mil.

[@janebaker4912]

Are you investing in a career? As Walmart might not be forever. But we'll done! Very good!! I started saving young too. It's fantastic! The future is good and I don't regret it

[@janebaker4912]

@@Hellothere11681 with compounding...

[@spaRKLES88604]

@@janebaker4912 no I’m général terms of saving just 600 a month. Dosent matter the job. Ideally you should be saving a certain percentage of your income

[@christinebutler7630]

This may sound morbid but...the ER docs call 'em "donorcycles" for a good reason. They still have minor kids. Neither shod be taking that risk until their kids are grown; if they're going to do it they at least should not ride together, so if one is killed or crippled the other will still be there for the kids.

[@jeffkline9191]

I worked in a trauma icu for 8 years. Truth.

[@colleen_dallas]

I think all of the kids have another parents not in this relationship. So the kids will have someone left at least.

[@SignedOff402]

80 year old biker lady just lost her life due to a car crash (broadsided by someone who ran a red light). It was a Sunday morning.

[@carlariggs525]

no, you are right. just look at the statistics for motorcyclists. Frankly, IMO it's a stupid hobby meant for young single people who have no responsibilities. It's one reason I divorced my ex...he would not not give up his motorcycle under any circumstances and it was more important than his children.

[@NIkki-ox1ej]

They should keep the house and rent it out, but the motorcycles and extra cars sell them and keep one car

[@JewelBlueIbanez]

Who wants to deal with renters?

[@lynncaldwell8345]

@@JewelBlueIbanez Who wants to deal with landlords or real estate agents?

[@doreenplatt3873]

The house was already rented. In fact, it was their tenants who ended up buying it from them.

[@jb6712]

The cars were leased, so they couldn't sell them. They could have sold four of the six motorcycles as well as the second house, though---the rent he was charging for it only covered its mortgage, there was no profit at all.

[@averilquinn2969]

This couple was very lucky to have a rental property to sell. I hope it works out for them and this was a very very long time ago.

[@jb6712]

Around 15 to 19 years ago. Show was made from 2005 to 2009.

[@marionbowler5440]

Bring this back 🍁🇨🇦

[@jb6712]

Gail refuses to do anymore tv, so there won't be anymore TDDUP, nor of "Princess."

[@janebaker4912]

I used an inflation calculator... $150k is $227k in todays money

[@jibrilamvs]

How, rather why, do people get 12 credit cards; only to max them out? I have one card and it gives me enough stress at times. I couldn’t imagine having 12+ credit cards.

[@icestationzebraassociates2460]

Yeah I think Craig's house is an out in case this doesn't work.

[@janebaker4912]

Ohhhh totally!

[@Magdalena287]

I have 5 kids and keep our food budget to 400 dollars a month with out an aldi near me. You need to cook simply and from scratch. I have 3 toddlers and 2 older kids and if i can bake bread and make our own healthy snacks every single week you certainly can with 3 teenagers

[@AshleyNicole-ct7gh]

What do you do for a living?

[@Magdalena287]

@@AshleyNicole-ct7gh im a stay at home who homeschools my husband is the only income we have

[@ayela562]

It’s even worse when you consider this was 20 years ago.

[@AshleyNicole-ct7gh]

@@Magdalena287 well there you go lol. I would bake bread too if I stayed home. You’re blessed to be able to do that, don’t act like it’s easy when some people work outside the home 50 hours a week.

[@Magdalena287]

@@AshleyNicole-ct7gh I also have lupus which gives me chronic pain and fatigue.....working outside the home thats just an excuse. My mother was a single mom who worked a hard job in an auto parts factory she meal prepped on the weekends and I would help her thats where I learned to cook from scratch. Women are lazy now plain and simple.

[@neolives]

These people make a lot of money to be in so much trouble. I think selling the house was a mistake, they had too many bikes. He needed to keep two and sell the rest.

[@lindarodman5014]

“We’re selling our life”? OMG

[@haweater1555]

She does freelance accounting, with this crazy debt and payments? I wouldn't hire her after seeing this.

[@deborahblackvideoediting8697]

I can't believe they sold the house!! I mean I understand why they did it, but (almost always) a home is going to appreciate in value. (And boy, did they ever appreciate here in Canada. That house had probably tripled in value!) Imagine the additional revenue it could have brought in once they retired. With all the cars and bikes, there were so many other things they could have sold. Plus the wife said it's always easy for her to get more income. The house sale netted them $80,000. If they had of sold $20,000 worth of bikes, she'd only need to earn an extra $1,025 a month to have their debt paid off in three years. (Oops...there would be interest on that, so maybe 3.5 to 4 years.)

[@barnabusdoyle4930]

Or get a HELOC on that house to put the debt onto something with a much lower interest rate. Selling that house was the single dumbest thing they could have done and I will guarantee it did so much damage and resentment to their relationship that it’s a cause of their divorce.

[@ryder4508]

Damn, they're rich.

[@giselleximenacazarez5368]

ME ENCANTAN SUS VIDEOS GAIL!!! LE MANDO UN SALUDO DESDE PALMSPRINGS CALIFORNIA YO SOY DE TIJUANA BAJA CALIFORNIA NORTE MUY MEXICO 🇲🇽.

[@pamelahaze3211]

I could never have done that repel challenge...I would have been screaming and probably had an embolism.

[@lroberts1008]

Egos take over common sense!

[@jaynestag95]

This works for me. ..to see savings😊

[@dannsherstone1037]

Not wanting to sell the 2nd house is not "sentimental". Because he owned the house before the marriage and they have never lived in it; it is not an asset of the marriage. If there is a divorce she would not be entitled to any ownership or the equity and that is probably why he has been reluctant to sell it. Its called a backup plan.

[@jenniferbond7073]

Nope on the repealing challenge. I’ve repealed it was scary and I could see. So nope on doing it blindfolded.

[@raymondcunanan1135]

I’m hearing Dave Ramsey saying “sell your children” 😢😅

[@barnabusdoyle4930]

I wonder if Gail supports the rice and beans budget

[@tinajohnson1988]

You can always rebuild. Say that outloud! You will feel good. Make money on the house...nor for nothing. You will be improving the life your living. You know, positive thinking really helps. You guys will do great! You are gonna feel good. I just know it!

[@bovnycccoperalover3579]

Henry James wrote a short story, "The Spoils of Poynton" about the dangers of being too attached to stuff.

[@lorettaleger2825]

Selling the house was a no brainer. Most people don’t have one house.

[@annajames9682]

How do you manage to be broke with a 70k and 80k salary?

[@ToddTinley]

I know several married folks that make a combined 200K and are broke with massive consumer debt.

[@haute03]

You spend more than you have on things you don't need.

[@jenniferbond7073]

And what 15 years ago.

[@nancyb.9759]

What about the children’s education?

[@jenniferbond7073]

Motorcycles are more important.

[@nancyb.9759]

Spoken to someone who had traumatic brain and body damage from a motorcycle crash

[@alittlepieceofearth]

Okay, so after just watching the first two minutes, based on Dave Ramsey's principles, here's what we need to do: Combine finances so that they are acting as one unit, get on a written budget, cut up the credit cards, sell the motorcycles (and accessories), and sell the 2nd home. If he won't part with the 2nd home then maybe that should live in that house. But the equity (90k) should clean up most of the mess (doesn't the title say they are 100k in the hole?). Either way, it wouldn't be the worst thing for her to pick up some extra work and him to pick up a second job until they get the mess cleaned up and a proper 3-6 month emergency fund in the bank.

[@nanettemorton4054]

One of the things I like about Gail is that she isn't Dave Ramsay. No sponsorship deals. She could have had a bigger career if let one of the major banks sponsor her, but she refused.

[@jennymcgowan3425]

She is already picking up extra work but there was no word of him doing likewise.

[@haute03]

@@nanettemorton4054 My thoughts exactly. Also, I come to the comment section to read people responding to Gail's advice. If I wanted to hear what Dave Ramsey had to say I would go on his channel.

[@jenem9618]

Real estate is a major asset. If they can keep the second house, they should. They make enough money that they should be able to sort it out.

[@ruthirwin8222]

​@@jenem9618appaently its many miles from where tbey live so its not practical

[@janebaker4912]

Need an update. Are they still together?

[@juditharsenault2131]

He says we don't say no to each other. I think when you don't say no to yourself, you don't say no to your mate.

[@NIkki-ox1ej]

Sell those motorcycles

[@bovnycccoperalover3579]

Given high inflation and suppressed wages, we all need Gail again but I don't live in Canada!

[@Trenton.D]

We have Dave Ramsey and Suze Orman.

[@bovnycccoperalover3579]

Yes but Gail looked at individual couples and their specific situations.

[@69georgiepie]

They will regret it now if they sold that house! I hope they kept it

[@ruthirwin8222]

They cant afford it

[@o0laieta0o]

They should have sold the bikes...

[@valeriemartini6315]

Get rid of some bikes 🏍 sell sell they only need 2

[@shh5627]

I have to believe the mom was getting child support for her 2 kids so they're bringing in more money than was listed on the show. If I had to guess, mom was using her kids' child support money to finance her toys and fancy lifestyle. I'm also curious if the husband's son lives with them or if the son only visits on weekends. If the son only visits on weekends then spending the amount they were on food was absolutely ridiculous.

[@brendasuelong-bryant7613]

No way could I do that challenge!

[@Suzie-he9ni]

I think his house was already rented. They said the rent pd mortgage. That house looked much nicer than what they're living in. Don't get that.

[@margaretghirardello5933]

They laughing they make great money wtf

[@ruthirwin8222]

The house and half the bikes would cover it

[@nolantemple1821]

Canadian Walter White

[@CH-jj8wk]

Imagine having a £90k house to sell and £92k in consumer debt and not immediately thibking to sell. Inagine. No brainer.

[@brendasuelong-bryant7613]

Mr. Thinks he can charm Gail. Grow up, you're not all that!

[@jb6712]

And she's been married three times, divorced from the first two, currently legally separated from the third---she isn't interested in some dud who can't manage his income! She is, in real life, a true financial wizard, and she doesn't get together with anyone who doesn't have a firm grasp of his finances.

[@c.parker8439]

Where's the wife's big asset to help pay down the debt? I wouldn't use my largest asset to pay down the debt. What if she leaves, then he's left with nothing. Call me selfish. 20 years of hard work...smh. Good luck to them.

[@___melanie]

That bothered me too. It would be a good idea to keep the asset from prior to the second marriage separate Just in case….though would also be smart to not rack up $90 in debt

[@MrStv1163]

When I see these shows and I see these couple have muliple homes, all sympathy for them goes out the window. Nobody needs two homes, and the sense of entitlement around that comes from a place of immense privilege and selfishness. He's not being "bullied"- he can't afford the house in Ottawa - so get rid of it, it's that simple. Seems like he shouldn't need Gail to figure that out. And liquidating it would allow him to pay off his debt. I know people with a combined income of >$250K US and they're struggling. At the end of the day, it's about living within your means, and people just continue to make bad decisions and refuse to keep a lifestyle appropriate to their income.

[@cabayern9416]

Wow. She is a horrible, selfish witch. Hopefully he has a prenup and gets out of this disastrous relationship.

[@eb9844]

I hope you eventually resolve your personal issues of your own failed relationship instead of taking it out on others and especially on social media. Wow. Such harsh.

[@cabayern9416]

@@eb9844 lol. Sure. Whatever makes you feel better. She wS irresponsible and using him, he hopefully ran fast before being financially ruined.

[@eb9844]

@@cabayern9416 and that’s what you got out of the vid. What you are doing is projecting and your response to me is called denial. I’m sure you are good person but bitterness will eat you up. I wish that one day soon you will find peace and happiness.

[@Ravenousyouth]

@@cabayern9416 shes working extra ... they are both bad

[@cabayern9416]

@@eb9844 lol. Yes. You are the one in denial. Review the video. Lol. Some people are takers.

[@Jonnyicey]

Advising him to sell his rental property is terrible, very bad advice. He could of probably retired 5 years earlier if he kept it based on how much houses have appreciated, poor guy.

[@MrsPeel2305]

30 % Zinsen?!?!? Ist das nicht Wucher?!?!?

[@danielle8608]

Not at all

[@ChriaraCass]

Watching this in 2022 and selling off his investment property seems like really shitty advice 😢

[@ArtaxForever]

This aired in 08, so hopefully they dodged the housing crash. And if they did, they probably made a decent amount. Sure, it would be way higher now but they would have been super stressed in 09- the early 10's

[@thesusanbainbridgeshow6044]

All this husband had to do was sell 2 of the 5 motorcycles. That way, if one motorcycle broke down. Then there was a backup motorcycle for either the husband or the wife. If he sold 2 motorcycles, that could have gotten rid of $60 thousand dollars easily, possibly more. I lived at free and owned my own bill paying debt service. It absolutely astonished me, the number of people who prefer things, over money! If any of you want or need help getting out of debt, you can contact me through The Susan Bainbridge Show. I am Susan Bainbridge. Be safe everyone!

[@pamelahaze3211]

I have no debt.. Am poor and bad with money

[@thesusanbainbridgeshow6044]

@Pamela Haze If you would ever like help with your situation, I would be happy to help you. Just let me know. I'll be glad to help in way possible. Peace and Friendship always, Susan Bainbridge

[@lifegenius763]

I seriously can’t believe this couple 😮 unbelievably irresponsible with money especially as they have impressional teenagers..very poor role models..balance is the key 🔑