“I Have a Big Problem”

[@Ja50nkAt]

People just don't get it, when you pay off debt you instantly start holding onto more of the money you make each month, you pay yourself by not paying interest which is throwing money away.

[@Relaxing_music-rws]

Caller- Cash: $47,230, Debt: $24,516 Kate: You can be debt free today Caller: 😲😲😲

[@sheilafitzgerald478]

🤦‍♀️ and I thought I was fucking stupid

[@anthonylewis1980]

Lol, I legit think it was news to her that she could pay all that

[@yogawithkatharine]

I was like errrrrm hahaha

[@ricksanchezsflask8794]

Girl math

[@JBStreeter]

Until we casually find out halfway through the call that her husband has more debt💀

[@rubysadie27]

This calls shows how intuitive and experienced Rachel is at taking these calls. She knew what questions to ask to pull important info from the caller and get to the heart of the issues. Good job!

[@outdoorbasicph3238]

Love how Rachel and Jade look at each other to make sure they are on the same page. Love you both ❤

[@klord6711]

60k in annual income and $6k a month in expenses (she was clueless and guessing). That's $12k in the red every year

[@godsdozer]

yep, so many people can't do math.

[@BrianW211]

Yeah, there was definitely a disconnect there. Right before that, Rachel said 6 months and there's no way $6K is for 1 month or 6 months.

[@BallAintLife123]

Based on how much she was saying “I” about everything, I assumed $60K was just her income

[@progguy10]

6K was for her family 60 was her income

[@godsdozer]

@@progguy10 6K a month x 12 months = 72K a year. 🤣

[@BrianW211]

Whoah, she basically said that she accumulated credit card debt so she could build up her cash savings. That's bonkers.

[@probablynot1368]

She’s built up her cash savings to cover her when she needs to quickly bail out of the marriage.

[@BrianW211]

@@probablynot1368 Unless he's abusing her, it wouldn't help. He'd get half in a divorce. Still, she didn't make it seem like that when she said her husband would be agreeable to work together and that he even would call the show.

[@janise01]

Not that surprising TBH. A lot of ppl fall into the trap of needing to have savings while they're simultaneously keeping a credit card balance. Getting that sweet sweet 4% while paying 34% and thinking they're making the responsible choice. 😮

[@donaldlyons17]

@@janise01 They seem to me to be afraid of not having any money.... Credit cards are useful but they can't pay stuff at almost 0% like cash can!!!

[@bookbag6432]

The logic is, you want to have an emergency fund in case something happens. But to save almost double of your debt seems stupid. Your emergency fund doesn't need to be 40k .

[@carolr7823]

I really believe that there needs to be a required class in high school of how to make a budget, how to save for retirement, how to stay out of debt, and how to manage your money.

[@tommartin3045]

It's required in Virginia. In our kids' high school, the goal is to schedule it in 10th grade, when the students will generally become eligible to work at part-time jobs.

[@donaldlyons17]

THAT CLASS SOUNDS LIKE CR*P ANYWAY.... People will have debts as long as they need/want etc. stuff they don't have the money for....

[@Jss766]

We live without debt. Its way more enjoyable. House would be the only exception but we have a paid for house, cars, everything and its wonderful.​@donaldlyons17

[@kristacanales3148]

I totally agree. But in society I still think even if they offered that in high school they will teach students what “healthy debt” is and that’s it’s ok to teach it. They would need a Ramsey curriculum lol!

[@aprillucas-boyle222]

My mother was a home economics teacher (retired in the early 2000 , she had a class callled survival and she taught that. Along with resume, insurance , renting, job seeking .

[@wahinepaddler4]

I love how much time you guys took on this call 🥰 so patient and thorough..

[@Daph2023]

I agree. They usually rush and stop the caller from continuing. I loved hearing all 17 min of it.

[@kiat5912]

Except for the fact that the following wasn’t addressed: “we make 60k/year” and “we spend 6k/month” 🫨 Or did I hear wrong?

[@BenHighley]

Taking out a car loan is normal enough, but it's wild to be carrying $12,000 of credit card debt when you have $40k in the bank. But to be fair, everybody has to learn how to handle money at some point. And it's definitely easier to learn when you have savings already vs needing to learn not to spend all your money.

[@healthwithmarcus]

I've simplified it in my mind: paying interest when you don't have to is asinine. Interest is normalized and sanitized. But I have now convinced my mind that interest is the devil.

[@aslanlovett4059]

Pretty much crazy to take out debt while you have that much savings. There's a reason why paying off debt is before the emergency account. If you do the the emergency account first you are essentially paying interest on it because you aren't paying off the things with interest. Caleb Hammer scoffs at the idea of a 1000$ first emergency fund but it's actually a great idea. He advises a fully funded emergency fund before debt payoff but as discussed earlier that is a backwards way of thinking and will only hurt you and slow you down. Only the Ramsey folks really seem to get the idea that being out of debt saves you the most money, debt should only be taken out on land.

[@cdcnd4spd13]

Is it wild?

[@Monipenny1000]

@@cdcnd4spd13 it certainly makes no sense to pay high interest on debt when you have the money to eliminate that debt.

[@Jss766]

Debt other than house is dumb. Grow up and live within your means. We are debt free house and all under 40 collectively as a couple.

[@e1honor7doctorw]

Rachel was on fire with this one! She does an excellent job of sympathizing with callers.

[@cmiovino]

Imagine having $50k in savings and $50k in debt, but having cards going to collections and not knowing what to do.

[@marcenelj]

This call is nuts

[@Nicolllld]

Ridiculous

[@sheilafitzgerald478]

Truly

[@ricksanchezsflask8794]

You haven't heard that many then

[@robertkrumm2470]

married and saying "I"

[@djpuplex]

I bet if he had money and not debt she'd be more enthusiastic about combining finances. She wants out and wants another man's resources. Duel mating strategy she wants a easier life. Alpha seed beta needs.

[@johnsyler8580]

She has one foot out the door already.

[@probablynot1368]

Doesn’t refer to the baby as “our baby”.

[@lynaeeakettgreene7208]

Yeah that is really concerning. It seems like she's too scared to be "all in", it seems like she doesn't trust him to work as a team and be responsible as a unit. They don't seem to consult each other on decisions.

[@blodus4521]

"I am married, I have one baby" sounds like the mentality of someone who's repairing for separation down the road.

[@dougwilkinson-uq3xr]

Her numbers arent adding up- we have another storyteller

[@9liveslisa]

Here's the mantra I live by. Get and stay out of debt, budget, live below your means, save and invest.

[@donaldlyons17]

Yeah right!!!

[@ONLY1KUDWE]

Perfect mantra

[@donaldlyons17]

@@ONLY1KUDWE But is it always realistic?

[@ONLY1KUDWE]

@donaldlyons17 Are you asking if it's always realistic to get and stay out of debt, budget, live below your means, save, and invest? Yes, it is realistic.

[@donaldlyons17]

@@ONLY1KUDWE Oh really... you do realize that almost 40% of people don't own stocks right? I would say the idea is realistic but in reality it is not!!!

[@sasukesuite1]

I remember when $47k was a lot of money. Nowadays that’s not even enough to comfortably buy a house, furnish it, and still have an emergency fund.

[@mnsohseven]

Great call! Really like how Jade and Rachel were so thorough with action plan.

[@eyemanm6045]

The couple is disconnected....DAVE would have tear her up

[@jimroscovius]

"We only have this, oh yeah, and a truck, oh yeah, and a boat, oh yeah, and this other debt." They don't have a marriage. They are roommates!!

[@tashanapink7688]

People swear they wanna be married until it comes to sharing their stuff.

[@hassanabdullah4061]

1. She got a pass. It took 5 minutes and for the host to ask to know she’s married. 2. A lot of I’s and Me’s. 3. She sounds like fun to get clear and concise answers from.

[@zac1375]

Why do the callers always seem not to know their incomes and other financial facts before they call? How much is your yearly income? Ummm... Duh!

[@bigbubba4314]

Well, those of us who know our finances well, and understand markets, seldom have reason to call.

[@futureforward3153]

i keep up with my finances pretty regulary (prob more than most) and on the spot i still have trouble coming up with exact numbers even though i look at them all the time. and with any variation like an extra job or any side work it really does depend enough for me to pause and say Ummm..

[@zac1375]

​@@futureforward3153 Okay, but would this be true a few minutes before calling the show when you know you WILL be asked what your yearly income is and/or when you know exactly how much you have in your savings account? Ummm, get the figures in order BEFORE calling.

[@AFancyHippo]

@@bigbubba4314exactly. Thanks for saving me a post

[@KathleenMcNe]

That's why they're in a financial crisis. They don't know their income, expenses, and debt.

[@tross549]

This could have been a 5 minute call

[@debbie12346]

I absolutely loved this call and response! 🎉

[@HOLDXSTEEL]

What’s scary is how long this segment is

[@d_all_in]

Women

[@lydiafabre4093]

We needed Dave on this call…

[@jimroscovius]

Rachael was too nice.

[@Daph2023]

Jade, PLEASE follow up with this caller!!!! I would love to see what she and her husband decide. She sounds soo afraid of taking this action. But having her and her husband work as a team…like what Rachel said…. That step is the first big step. And it would be a miracle to see if this couple can make that first step! It would bring us viewers soo much joke to see if this caller can go over this hurdle…her fear, and join her husband on this journey together.❤

[@damienbates]

I used to keep my cash savings in a HYSA but after realizing I could choose a money market fund to get as good or better returns with a similar level of risk I decided to put it there. The real benefit is you can purchase money market funds that have zero federal income tax. The only disadvantage to a HYSA is there’s a one business day delay in getting access to it and you can’t write checks from it like some banks allow for. Also, it is not covered by the FDIC insurance but it is covered by the SIPC insurance.

[@thedopplereffect00]

Some brokerages let you write checks from the money market account. It's buried on their websites

[@P_Rodd]

This poor guy is coming home to, "I called in to a radio show, and they said to sell our boat and empty our emergency fund". Dude won't even get to get his 10 minutes on the toilet before getting hit with it all. Edit: let me say too, I agree with what they said haha

[@mrnyquill3570]

Dude doesn’t know there is an emergency fund 👀

[@fernleafmedia]

No more power tools for THAT guy...

[@MisterNightfish]

I do not understand going into debt with a higher interest rate when you have savings just sitting there, doing nothing. That's like just paying interest to someone else without getting anything in return.

[@zac1375]

That's why I questioned if the money was actually from savings versus recently acquired from some kind of settlement.

[@Liaxtube]

​@@zac1375 She said she's been saving money for a long time so I doubt it. If they're payment orientated they see it as more peaceful to make a "manageable" payment while sitting on the boatload of cash because having the cash is seen as a form of security. The alternative of paying off all the debt means having little to no money in the account, and the idea of having no money in the account is panic inducing that. It's a classic scenario of not really being good with finances.

[@julf9178]

Pppl are dumb

[@mikesch7876]

She didn't want to pay those debts off because she wanted to pay them more.. These people keep the national economy flowing 😂

[@keisha2shoes]

They get stuck on having the cash and stomach having a note because they don't feel it all at once

[@dan.b]

60k per year income and 6k per month expenses and still saving a lot? Something doesn’t add up.

[@rebeccaoliver7977]

I’ve noticed that sometimes these calls follow the caller and don’t jump in to mail down a few facts. Lots of assumptions are made and the host is off and running with good information-but it doesn’t apply to the caller. It might make for more drama and suspense but it isn’t very efficient and does ultimately do as good of a job at holding callers accountable or drilling into the real problem. I think Dave has those boxes he ticks off in his mind. Experience works in his favor. Asking the basic questions also helps listeners plug in their own situations. Married couple without combined funds. That is really one category of call. Each category has its own tree of solutions. I am grateful everyday that my mother was frugal and proud of it and that I took after her. Nothing is as sweet as being financially free.

[@bonniemartenez5294]

I think separate accounts is what is crazy to me. I am widowed twice, but I worked together with both husbands.

[@jimroscovius]

You need to work together to win. Period!!

[@Smallvillefreak]

They took way too long to figure out that they have separate money and he had debt that she wasn’t including.

[@TerryOnDemand]

Where is Dave? She saved just to be in debt. This call is bananas🤦🏽‍♀️

[@bow-fihiphop-yv7gx]

"That's the neat part: you don't."

[@BrianW211]

She's married and only concerned with her own savings, her own income, and her own debt. They have separate finances. She's OK, but knows her husband is drowning. She doesn't really know her own numbers, so there's no way she actually knows his. She thinks that $47K is her security, but she probably doesn't realize that a divorce would devastate her.

[@katemedley3057]

This caller is a narcissist. She needs to work with her husband to get debt paid off

[@singerjo5791]

@@katemedley3057No she’s not. She needs security. He may have been irresponsible or she saw her dad be irresponsible. She is trying to protect herself.

[@katemedley3057]

@ maybe

[@yieyie4262]

I just don’t understand how Americans are so comfortable to get them selves into huge debts….that’s just mental behavior 🤯

[@RonaldrDeleon]

I think she is preparing to exit the marriage, the husband probably doesn't care about finances

[@BrianW211]

"How do I tackle my debt, while establishing an emergency fund, and investing, at the same time." How to say you've never watched or listened to this show before without saying you've never watched or listened to this show before.

[@cheryle3208]

rachel is amazing, love her

[@eyemanm6045]

5 Years being Roomates!

[@KennedyIvy]

I can tell by her voice she has poor spending habits

[@lynaeeakettgreene7208]

I've never been good at trying to do everything at once. Paying off my debt, which i only have just over 2k left to pay. Making my last payment mar 1 2025, super excited to do it. Then I will save the rest of my emergency fund!

[@Yogastrong908]

This “marriage” sounds like a dumpster fire. She doesn’t even know what debts he has. There’s probably a bit more than what he’s saying probably because one or both of them are underestimating. They need to get side jobs to fix this.

[@OGAngrySauce]

"My daughter" "His debt" interesting word choice.

[@krobdawg]

I don't mind long videos but they really beat a dead horse with this one

[@mhodge0890]

Facts

[@ThrowawayJack1]

I don't like sometimes when people there take calls and it's not Dave, like Jesus, the advice is just way worse sometimes

[@strangeroamer3219]

​@@ThrowawayJack1Don't worry. We will tell Dave to fire everyone and get him back to hosting the show full time.

[@amireallythatgrumpy6508]

@@strangeroamer3219 And Dave does not let ANYONE tell him what to do. Somebody: "Do this Dave". Dave: "Hahahahaha NO."

[@strangeroamer3219]

@@amireallythatgrumpy6508 What's the point of him having co-hosts if everyone would rather have Dave? Seems kind of redundant and a waste of money. He can just fire them and host the show, and save all that money.

[@HEC892]

She sounded like she had no idea how much money she makes then they sounded like dummies when they said you can save 25k in 9-10 months when she thinks they only make 60k a year cmon now lol

[@antonjones3753]

How thick can some people be im in 24k of debt but I have 47k in the bank what do I do 😂😂😂

[@yourgooglemeister6745]

She said MY daughter needs some clarification on that

[@MarilynHelms-f9i]

Adaxum’s team looks solid, and the project seems well thought out. I’m cautiously optimistic.

[@aurawesttarot7185]

Next video: Caller: "I have a million dollars of debt with a million saved up"

[@ad3781]

fuzzy numbers and she doesn't know...

[@Chopsuey087]

Earns .03 percent interest on her savings but pays 25% interest on credit cards every month. Not too smart.

[@TODReinhardt]

ADX is one of those tokens that could surprise people down the line. Happy to have gotten in early.

[@YurdunEvre]

Glad I got ADX early.

[@johnsyler8580]

She had better factor in the cost of a divorce lawyer.

[@machintelligence]

At least keep your finances separate, at least for now.

[@hvaball150]

​@@machintelligence the court will take care of that. Unlikely to remain separate.

[@dacokc]

There’s no excuse to not be knowledgeable on investing… KZbin.. internet. You can learn a lot from the palm of your hand these days.

[@strangeroamer3219]

The problem is who do you listen to? Everyone has different advice. Some financial gurus don't agree with Ramsey. Everyone seems to think they are the expert with esoteric information regarding finances.

[@andrewjgrimm]

Problem is, half of it will make you dumber.

[@dacokc]

@@strangeroamer3219 I'd start with Warren Buffet.... he ways put your first $10,000 into S&P 500... I'd say keep that going until you learn as much as you can.

[@Rokashy]

They REALLY need to re-adjust the $1,000 emergency fund

[@azteca6695]

Dave is stubborn AND prideful. He won't

[@goofy72882]

Just having 1000 dollars at once is probably hard enough for most of these folks who are in terrible financial shape.

[@Flybynight9465]

$1000 was never designed to be the finishing number, even back when Dave wrote TMM. It's enough to keep the little things from pulling you off track from your goals and, might I dare say, scare you into getting your debt paid off as quickly as possible so you can then bolster it up.

[@rollypoli5570]

It doesn’t make sense to have a 6 month emergency fund and high interest debt. $1k - one month of needs is enough to be a buffer to hopefully keep the debt from going up when something bad happens. But it won’t cover everything. And if it gets wiped out. Stop paying extra for a month or two to get it filled up again. I don’t think the amount is as important as the idea of saving some lump of money at all for these people who never have before. A real emergency fund comes after debt is gone

[@BenHighley]

@@Rokashy $1000 is not an emergency fund, it's the "starter emergency fund". The real emergency fund of 3-6 months expenses comes after clearing debt. 40% of Americans could not pay a $400 surprise bill without going into debt. The $1000 is more about making people feel like the system is doing something for them at the beginning than it actually is about covering emergencies. Dave explains in other videos that it originally wasn't part of his "baby steps" at all. But he noticed that people would often quit the plan entirely if they had a tire go out when they were just getting started.

[@fhuber7507]

She's trying to do all the baby steps at once, but they need to be done one at a time.

[@HuriyeMuzaffer]

Thanks for the XAI200F update! I am loving my XAI200F!

[@trevonlynum2785]

House hold income 60k, monthly money needed she said 6k. This math is trash.

[@fernleafmedia]

Exactly. With these figures a monthly zero based budget would be set to $5,000.00 per month.

[@mikeshaw4610]

Suggestion to seeing what is left after paying off everything just incase jobs were to be lost, etc. You will still have 3+ months of income left and think how fast you can now build back up the savings sine your monthly expenses will be much less. Your actually more secure without the debt.

[@robertblake4743]

This video was so long that I paid off all my debt by the time it was done!

[@mhodge0890]

It feels like Katy is about to clock out

[@nay984]

Katie dont wanna use her savings since she was 16 to pay off her husbands debt lol

[@5280-G]

Cut/ close credit cards too🤔

[@TheAussie1970]

Just compare the interest your getting from the savings to what the credit card companies are charging you. its a win win.

[@HasanVolkan-y2k]

ADX is a smart move.

[@joeriveracomedy]

What lies do people tell themselves to get people to marry them? I wouldn't marry a dusty.

[@NicholleWillisLoves]

If the boat is precious to her husband, they might have to pay off all the other debts, then do the Ramsey gazelle intensity to pay it the boat as quickly as possible, THEN start saving. Even then, that's still not horrible if he's unwilling to part with it. They can make this work!

[@4Him4Ever]

What is it with younger people who don’t combine their finances when they marry? This is a newer thing. Fifty years ago, the norm was two people became one couple and shared everything.

[@BurcuHaci]

Took a position in the ADX presale. Let’s see how it pans out.

[@RonaldrDeleon]

She is protecting the money from the husband

[@kamjc]

6K per month expenses seem pretty high. But regardless, she’s got money saved up that’s greater than amount of debt she has (not sure if it’s enough if adding up her husband’s debts too). That puts her in a pretty good spot relative to other callers. The steps she need to take to get out this situation is pretty clear cut!

[@TheSonyExperience]

First time hearing Rachel’s voice in the into. Unfortunately your intro add was for a health sharing plan with ministries. I seriously suggest people look into those before ever paying for one. They don’t cover a lot of things. I think they are a scam

[@bryceduncan2074]

Things associated with ministries usually are scams

[@sherryingle]

I have used a health sharing plan...they are awesome if you don't have insurance.

[@TheSonyExperience]

@ I suggest one still deep dive into the details

[@Liznvx]

Marriage counseling

[@JosiahK555]

i have 24k in debt and 40+k in the bank, and don't know what to do. uh what?? Edit: oh the husband has stupid debt. failure.

[@d_all_in]

A 17 minute call to figure this out because women can't get to the point

[@smartin498]

The caller is afraid of the separate money (life arrangement) situation. She believes her husband is not onboard in true reality. She lives her life and he lives his. She showed these things when they told her to payoff his debt (very apprehensive to the hosts) which was very apparent. She should not pay off his debt until he is really all in, her money will go to waste and she will live in fear of it collapsing all around her. Dave would have been a lot rougher on situation and probably given different advice. Get the marriage straight first!

[@starrystarrynight6281]

I know how she feels…I had money in the bank but used it to buy a car. The interest on the payments would have been awful.

[@SuperDudson]

Geez, guys, it's 9 minutes into the show before you begin to explore what her current situation really is? You give (mostly) good advice, but please stop being so eager to give it that you don't first try to understand who you are talking to.

[@alissonvonderlane862]

Rachel did ask "why"... it's not John Deloney... she should have unpacked that when Rachel asked 'why'.

[@IsilMuhammed-x1j]

Just saw your videos and bought XAI200F yesterday.....its up 24% today talk about timing......Thanks

[@bonniehall578]

Keep your money seperate. You are your own security for you and your child!

[@hvaball150]

Money earned while together is shared. Good luck.

[@JasRog1026]

Thats nucking futs

[@bahwickee]

Of course he has a truck with a $600 pymt

[@ctb3343]

The negative of “married with separate accounts” strikes again.

[@mikeshaw4610]

I still fail to see how people are married but not sharing there finances. Sounds more like two people living together only.

[@EFN86]

47k in savings screams financial trauma. The moment she said she had that much on savings, I knew. Hello, fellow financially traumatized person. I was there with you about 12 years ago. Its scary having so little in savings but eventually you do learn to feel safe with just the 6 month EF. Especially when you have no debt and a budget in place. Your budget is your new safety blanket. Remember you are not your parents.

[@mluterancik]

Why in the world would you pay all that interest when you have the money to pay off your debt?😂

[@dianapeters5131]

This call was questioned absolutly backwards. Too many questions too late.

[@daketora]

She will also feel less scared when her and her husband sit down and unify on this. She’s scared to pay off his debt because she might get screwed. And she might, but if they truely unify if goals and standards, that will help ease her worries.

[@billy5032]

Stay out of Starbucks

[@chuckiedavidson719]

Who gets tired of seeing money in their savings??

[@NovelNovelist]

Obviously a daily driver vehicle is more practical than a boat, but the caller said the boat was precious to him whereas she didn't say that about the truck. Could be that as far as priorities, it might make more sense to sell the truck and pay off the boat than visa versa. I mean, boats are money pits. I'm definitely not advocating they own one as a great financial decision, but the larger context of their lives and priorities are a factor, especially if their situation can be cleaned up while keeping the boat and making lesser sacrifices.

[@CaferTugba]

The Adaxum presale is flying under the radar, but I’m not missing out.

[@jacquespieterse5135]

Crazy... Maried but living in two different worlds 😮

[@YasmineBoucher]

Secured my ADX tokens in the presale. Could be a good long-term play.

[@YavuzVeli]

ADX has potential, especially with its E-commerce integration. Let’s see where it goes.

[@NotSoSlimSnacker]

That couple needs therapy. She is traumatized by her parents divorce. She avoids confrontation telling her husband no.

[@KathleenMcNe]

It's very odd that the caller hasn’t already paid off all her debt, given she has enough in savings to have done so.