I always feel so much better about myself when I listen to these calls.
@musicman72979 ай бұрын
Retired and living on my SS while taking 600 of it a month and adding to my silver pile. Along with freezed dried can goods.
@kbanghart9 ай бұрын
@@musicman7297and?
@justinebailey53339 ай бұрын
Right
@LastMinuteGuess9 ай бұрын
Sometimes I feel guilty for having a lot of student loan debt, even though I went to community college for two years so I am better than most. Then I am learn I am also not at six figures in credit card debt.
@cgasucks9 ай бұрын
I agree. It is comedic and educational to us.
@sambulthuis2879 ай бұрын
They make 13,000 A MONTH, only $1k in the bank and still have this much debt?? Something ain’t adding up.
@musicman72979 ай бұрын
Keeping up with the Jones is very expensive. LOL 😂
2:22 how can you even enjoy a vacation knowing your 127k in credit card debt
@goforbroke29 ай бұрын
Exactly!
@bhnurse169 ай бұрын
That reminds me of people trying to figure out how others can afford to go to Disney World, or go often. I don't have kids yet and went several times with my parents or just my mom last year, but I'm debt free and did not need to take any money from savings...I just used my paychecks. I'd feel too guilty to enjoy a vacation I hadn't paid off yet!
@sken178 ай бұрын
Delusion and living in denial. Not facing their reality, kicking the can down the road
@dlyras8 ай бұрын
I often thought the same thing with people like this. I think the answer is that when you're that much in the hole your mindset becomes, "Whats another 10k on top of the existing 117k? I'm f'd anyway." This is why you should never go down that rabbit hole. Never owned a credit card in my life.
@wacalla268 ай бұрын
I wish i had 13000.00 a month coming in.... I only bring in a third of that and retired early !!!!! 😁
@azngettoone9 ай бұрын
I just paid my last payment on my student loans. I am now debt free.
@spankynater42427 ай бұрын
I got a little sad when I paid off my student loan (decades ago). It was like shutting closed the last door to my youth. But would I pay it off early again? Absolutely.
@anthonywilliams94157 ай бұрын
Congratulations
@simransidhu6177 ай бұрын
Awesome!
@fergusonto-20327 ай бұрын
Congratulations
@lisadanielleclark7 ай бұрын
Congratulation!!
@MindsetMastery1489 ай бұрын
Making over 150k and only has $1k in the bank is insane.
@screwdriver_bandit9 ай бұрын
The absolute irresponsibility of this situation is astounding.
@dslunsford19 ай бұрын
She doesn’t deserve to retire. She lived her best life in her 50s thinking tomorrow would never come.
@Joe-ku1ko8 ай бұрын
@@dslunsford1 She lived her best life from 18 to 59 thinking tomorrow would never come. Absolutely no long-term planning skills whatsoever.
@knrdvmmlbkkn7 ай бұрын
@@Joe-ku1ko"She lived her (...) planning skills whatsoever." Why not 0-59?
@econdude38116 ай бұрын
Based on their income I see a way out without selling the house. BUT they're NEVER going to do it. They want to live like they're making $200,000 a year when they're making about $150,000 a year. No chance they're giving up that much of their lifestyle. Bare minimal living would get them out of their mess, probably, but they would have to do that for years and I doubt they'd be able to do that for a few months.
@trishsnoots38412 ай бұрын
@@econdude3811right?? Because that would take discipline!! The missing element in their mess.
@Discovery123.9 ай бұрын
This is the problem: big house, big truck, cars, fancy vacation, eating out, football game, fancy clothes, private school all using credit cards. You work till you’re dead, and that debt still there.
@ciprianmaxim71005 ай бұрын
Correct.
@Jayyyboyle18 ай бұрын
They were already in almost 500k worth of debt, then when she said she had a 2023 year car I was ready to flip my desk.
@PublicNuisance2K242 ай бұрын
"you're broke!!"
@drn133559 ай бұрын
They cannot retire in 5 years. They are a half million in debt. And they haven't actually changed anything. The fact that she is even thinking about "retiring in 5 years" means she is living on another planet. Their credit is so bad they can't even get a small loan from a credit union.
@ghostbird929 ай бұрын
They're never retiring. Some people just can't ever think ahead.
@emoney12319 ай бұрын
Most people think reitrement is an age, not a financial situation.
@waynelewis91109 ай бұрын
Indeed. Another thing that is shocking is that she stated they have nothing tangible to sell or is of any worth, despite being in $127k in credit card debt alone. It boggles my mind how people can be in that much debt and have nothing really to show for it.
@jasonleatherwood21729 ай бұрын
If they really bring home 156000 a year that is 780000 they can be debt free includine the mortgage and 100000$ in the bank in 5 years
@mikezerker69259 ай бұрын
I thought I misheard that… she’s delusional if she thinks she can erase 500k in debt and, then save enough for retirement, in 5 years time! Unless her family’s combined income is around 250k per year and they live on like 10k a year… even then, ain’t gonna happen in 5 years!
@rickenbacker4729 ай бұрын
This channel has really changed my whole world view. All those people I see in shiny new cars and flashy homes that I used to envy, they're mostly morons up to their eyeballs in debt aren't they? It really makes me feel less bad about living within my means and saving for retirement this whole time.
@boston3129 ай бұрын
yup same with the fancy weddings, kids, and the houses. They are all chasing the American Dream that so few can afford nowadays
@talyahr33029 ай бұрын
Same. Makes me feel better about driving around my anesthetically unpleasant car. At least I have no payments on it.
@willelliott50529 ай бұрын
I know exactly what you mean. I can park my old pickup truck beside some European luxury car at the grocery store and feel envious, or I can walk inside with the peace of knowing that I probably have the greatest net worth of anyone there.
@umair86419 ай бұрын
Well said
@stuffykong9 ай бұрын
Same. It's like preventative therapy for me.
@AlexPrime869 ай бұрын
I just can't wrap my head around having over $100,000 in credit card debt.... that's insane
@pamsmith16659 ай бұрын
$127K
@TheHazards20119 ай бұрын
And then buying an $80k car in 2023, ridiculous
@cstuartdc8 ай бұрын
They were living large.
@AlexT20488 ай бұрын
do you bring in 13k or ever wish to achieve that income?
@1Skeptik18 ай бұрын
Not insane, just gross stupidity.
@macpduff21199 ай бұрын
This call is a heartbreaker. To have backed into such debt and be 59 is horrible. Why do they own an $80,000 car when their take-home income is only $150,000?? Were they trying to live a $600,000 lifestyle on only $150,000 income? I really feel for this woman because 30 years ago, my husband and I were spendaholics and it led to our divorce. We had no concept of a budget and lost our business and home. We both were to blame but I changed and became terrified of debt. I thank God that my wakeup call came soon enough. Now I am 79 in a small affordable house. God restored the years that the locust had eaten and I was blessed with enough income and medical insurance to live a modest and happy life). As I said, I could cry listening to this poor woman. Her call brought all the terror feelings I experienced back in the mid 1990's.
@tiffanyhwang17389 ай бұрын
Only $150k... 😂😂
@Pinkgirlyyyy9 ай бұрын
I’m so happy you were able to change before it was too late
@leprechaun36779 ай бұрын
Debt is not something to fear; it’s how you use it.
@mariannuckle47379 ай бұрын
@@leprechaun367799.9% of the people don’t know how to use it!!
@spencermcleod37529 ай бұрын
$150k is a sizable household income and people should have no problem living comfortably on it. But they shouldn’t be buying luxury cars unless that’s literally their only indulgence.
@Thurgor_Supreme9 ай бұрын
Credit card debt is just insane to me. It's like you've taken something you can't afford and made it even more unaffordable by adding interest
@peartfaldo7 ай бұрын
AND that "thing" that you bought isnt even fun any longer its boredom, and being miserable in life that causes this crap. you heard her say vacations they shouldnt have gone on. Thats trying to "get away" from their life....then the debt slaps them in the face ........
@d_all_in2 ай бұрын
But I need the shiny thing and I need it now!
@robertsquared29169 ай бұрын
They are paying over $1,200 in INTEREST a Month and this woman thinks she’s retiring in 5 years 🤦🏻♂️
@vickieclark59319 ай бұрын
Yeah, that interest alone will definitely slow down the pay off for them. They need to wake up and realize that they created a terrible mess that will now affect their retirement.
@asavannah74399 ай бұрын
😱😱😱
@angel-ij4xv9 ай бұрын
this is why i stay away from credit cards
@keepingitreal6189 ай бұрын
@angel-ij4xv love my credit card, a lot of the time mine is in credit 😂😂 never had credit card debt. Low salary live within my means.
@blackmantravel69549 ай бұрын
More then 1200$
@RJ-cv2uw9 ай бұрын
Saving this video to replay whenever I'm having a bad day
@tylersanders23889 ай бұрын
I want to feel bad when I hear the pain and crying from people like this. Then I think about how they always drove a new Cadillac and went to Hawaii twice a year for the last 60 years while eating steak and caviar. Instead of sacrificing at 20, they get to sacrifice at 60.
@scotttracy93339 ай бұрын
Exactly, then they look down their noses at people like us who have a mortgage paid off, yet drive beaten up 20 year old Toyota Camry with 250k miles on it. My wife has many friends.that are like that
@franziskani9 ай бұрын
@@scotttracy9333 Good for you. If life hits you (sickness, accidents, unemployment) you will at least not have major financial struggles. The freedom if you know you COULD throw in the towel at work (collegues, customers and last but not least the boss). Most people never do it but even the feeling that you do not have to put up with it if it really gets bad - because the house is paid down and you can switch to a very modest lifestyle to live in less if unemployed.
@BrianW2119 ай бұрын
Exactly, volunteer to be a little uncomfortable when your young and healthy and you won't be forced to be very uncomfortable when you're old and frail.
@maryangelica53199 ай бұрын
Nah, I feel bad for them because they are slaves... slaves to their impulses.
@jacquelineglitter43287 ай бұрын
The ones I know but designer clothes, purses and shoes. I don't feel sorry for them. I was always frugal bought used cars.
@thirdcoast-nx7jx9 ай бұрын
This is a hard, hard lesson to learn at 59.
@mdaniels63114 ай бұрын
I learnt my lesson pretty young.. thank god!
@CJ2023Incognito9 ай бұрын
If she went on Caleb Hammer’s show, he would have a heart attack. lol
@damemethief2 ай бұрын
The entire show would be in a hire octave haha
@olaabi22299 ай бұрын
I ordered a brand new civic (28k) in March of 2022 for April delivery. I was going to put 14k down. It was supposed to be delivered in April but it kept on being pushed back. By the end of May it was not delivered so I canceled it. I fixed the AC of my paid of 09 versa hatchback that has been good to me since 2012. I put that money on Amazon stock when it fell to $90 and sold the stock @ 153. I turned 15k into 26k and now I’m buying the car cash.
@JK-td4hi9 ай бұрын
Incredible, congrats that’s awesome!!
@genxx27249 ай бұрын
Make sure you put money aside to pay the tax, and check with your accountant to see if you have to pay quarterly estimated tax. If you wait to pay the tax until April, there may be penalties and interest.
@AverageJoeDividends9 ай бұрын
28k for a Civic??? That had better be an Si! I paid 21k for my Si in 2013.
@simpleexpedition9 ай бұрын
@@eplugplay8409hahahaha thats good
@adamseidel97809 ай бұрын
@@AverageJoeDividendsat $28k, that’s an EX or possibly a Sport. The Si’s are up to the low 30s now, as are the tourings. Nice cars though, in addition to still being economical to own.
@masonjensen_9 ай бұрын
I’m 16 years old. I only recently started watching this show recently, but man, will I be following this community’s advice, as well as the amazing guidance. I already have started my own Emergency Fund, starting with $500 dollars. I think the kids my age who want this lavish lifestyle should know the real world behind money is extremely cruel, and very harsh.
@gmarie30539 ай бұрын
I started at listening at 16 too! Never got into debt and I’m almost 24 now with 30k in the bank. You got this!
@robertbokke9 ай бұрын
Ya'll already ahead of the game young man. 👌
@jkstudent2229 ай бұрын
the fact that youre watching this video and also that your profile pic is a sunrise .. you are very much on the right track bro
@masonjensen_9 ай бұрын
@@jkstudent222 well, i’d love to believe that. being i’m still 16, it’s gonna be hard to begin some of these steps as I don’t yet have a solid fluent income stream, but once i do and really can manage everything better, hoping to end up on the right track 🙏
@cheenoulee74559 ай бұрын
You are lucky to have found this at 16. Keep your eyes open and be smart. Keep it up!
@betl59829 ай бұрын
Ms Tina, Many of us have been in bad very bad financial situations too. 13k a month is a nice bag of coins. Have to live like you are below poverty for a very long time. I would eat eggs and bread everyday before I sell the house. No driving except to supermarkets. You can’t afford McDonalds without a coupon and that would be a nice treat. Don’t meet up with friends or family unless there’s free food for you. No spending money to celebrate anything, birthdays and holidays. Cut all subscriptions. Put 62 degrees heat and 85 degrees cooling. These are some of the things I did many years ago for more than 3 years. Now I am debt free. Still have my home. My 2 cents. Wish you will pull through.
@knrdvmmlbkkn7 ай бұрын
"Put 62 degrees heat and 85 degrees cooling." Preferably not in Celsius.
@kpolkoski73992 ай бұрын
Yes, I agree. Work 2 or 3 jobs and cut everything before selling the house. We were able to keep our house, but didn't even have 1 spare dollar to rent a movie for our 12 year old daughter. She got socks for Christmas all wrapped individually so it seemed like there was more. We call it our bleak years. It was 1998. We kept our house though and we're debt free. It's agonizing and I wouldn't wish it on anyone. It was business debt so we didn't even have cool stuff to sell.
@floresnashvilledrummer9 ай бұрын
"We wanna retire in five years." 😂😂😂 It's this lifestyle right here why you see a 90 year old working at the dollar store.
@turtleanton65399 ай бұрын
Inde3d
@curiouscat33849 ай бұрын
OR - maybe that 90 yr old never made more than minimum wage and thought social security would take care of them in retirement. (just uninformed). Sadly SSA benefit at that level is only around $800-1000/ mth.
@littlesongbird19 ай бұрын
@@curiouscat3384 When I do retirement planning for me, I don't even factor in SS. I just factor in what I am saving in my IRA.
@stitcher47299 ай бұрын
Some just like to work a bit to get out on a regular schedule, feel productive.
@willmahan41619 ай бұрын
Bro if you spend 90 yrs of your life and necer put the effort in to learn a skill that pays above minimum wage than that is 100% your fault. Disregarding special needs people, handicapped, disabled etc. @curiouscat3384
@davidfreeman46259 ай бұрын
These problems are far beyond a 10 minute phone call. Their spending is out of control and has been for many years. They need to sort out their budget, their spending and their debt.
@andyvu85133 ай бұрын
It’s beyond a budget issue. It’s behavioral issue and they need serious counseling to help them with decision making.
@dustyrhodes27179 ай бұрын
Retire in 5 yrs?!? These people are fools.
@patriciabrant80378 ай бұрын
Why is it these brain dead people make really good money?
@spankynater42427 ай бұрын
She said at the end of the video she knew that was not possible. Watch all the way through.
@IMBLESSED-oe6dl5 ай бұрын
W that much debt I don't see it happening. Only works if they were paying bills w one n saving one full salary.
@ES92-9 ай бұрын
I'm stressed out when i owe $500
@justinebailey53339 ай бұрын
Right
@Carmen07779 ай бұрын
I’m stressed out even when I owe $5.00, I cannot sleep knowing I owe someone or credit card.
@LetsGo60099 ай бұрын
Same
@snowpz9 ай бұрын
@@Carmen0777 lol $5.00 that's extreme. you'd barely pay any interest on that and can pay it off in a heartbeat lmao...
@littlesongbird19 ай бұрын
I pay my CC in full each month (don't get wrong there was a time when I had CC debt and I worked my rear end off to get it taken care of and now I am doing the same with student loans).
@darex08279 ай бұрын
These people were living a 2x income lifestyle for years and reality has finally kicked in. Ouch.
@turtleanton65399 ай бұрын
Ouch😅
@chaz32799 ай бұрын
Financial Darwinism
@koaltech9 ай бұрын
They were living a 3x income lifestyle...
@blackworldtraveler37119 ай бұрын
I find it interesting that their family and close friends didn’t say anything about this. Maybe they have and told to mind their business. I’ve been told this a few times years ago by people who are broke,in debt, and unable to retire now.
@jimeagle55099 ай бұрын
She reminds me of my mother-in-law. 70 years old, STILL has a mortgage, ton of credit card debt, totally dependent on the government and...now….is totally shocked she is where she is. Stop. Spending. Thanks ~Jim Eagle
@bjkarana9 ай бұрын
I've seen delusion like this in my own family; people seem to think that simply reaching 60 or 65 means they can retire despite being woefully unprepared as if something magical happens at age 65. My mother is 58 and has been talking about retiring at 65, but has basically zero in retirement, and no real estate. As her son, I'm sitting here in my late 30s with $920,000 in retirement accounts (including my wife's) and just shaking my head at how my mother thinks SS will provide anything more than basic needs like food and shelter. I've talked to her about my concerns repeatedly for over a decade but nothing seems to register. We can ignore reality, but we cannot ignore the _consequences_ of ignoring reality.
@markellinghaus59259 ай бұрын
She knows you'll be a good son and secure her a happy retirement. A monthly allowance of $4000 or $5000 plus her SS should do it
@unknownname31897 ай бұрын
Yep, she knows he probably has a good job and knows he won't leave her out to dry.
@rudyardganuelas62545 ай бұрын
YOU are the retirement account
@bjkarana5 ай бұрын
@@rudyardganuelas6254 Yep. Seems that way.
@towel-ie75549 ай бұрын
These are the people who you see and think "How do they afford so much?" They don't.
@ohreally82599 ай бұрын
Sell the house, get 140k in equity, pay 20 for the car and 120 for the credit cards…suddenly you got rid of 200 out of you 230k consumer debt. Got rent for 1500 a month. You can pay off the remaining debt in 3 months with your 13k a month salary. Start over, you can retire in 10 years
@nyht7279 ай бұрын
Selling the home is a dumb move. She lives in FL. She needs to file a BK.
@ohreally82599 ай бұрын
@@nyht727 why selling the home is a bad idea?
@BrianW2119 ай бұрын
@paulmerriwether6207 With an income of $13K/month and total consumer debt payments of $4700/month, they won't qualify for bankruptcy.
@nyht7279 ай бұрын
@@BrianW211 We ALL qualify to file a BK. Either 7 or 13!!! PLEASE!!! And the house cannot be taken away. It's FL & protected. Have you forgotten about Burt Reynolds’ 1996 Bankruptcy in FL?
@nyht7279 ай бұрын
@@BrianW211 This is what I would do ... 1) stop paying all bills. 2) HIDE my money is a shoe box! :) 3) File for BK when the time is right. 4) When creditors call I'd tell them i have NO MONEY & no job! SUE ME!!! They'll want to negotiate and many won't do anything! They expect a certain amount of losses. 5) Rich people file BK's all the time & HIDE their money & lie in court it's gone. 6) So why should she be any different? 7) Ask Trump about filing BK's! :)
@f.w.13189 ай бұрын
They are not retiring anytime soon, and buying a 2023 car knowing they are in severe debt is mind blowing. Credit card debt free since 2013 never had one since then.
@buffydog219 ай бұрын
I thought having $8,000 in debt was a lot. Stop spending money and tell people you don't have money to spend on Christmas or birthday gifts. I feel sorry for her, but she got herself into this debt spiral problem.
@MrFIG-rk8wq9 ай бұрын
Damn. Me too. I have 7k in credit card debt. And like 90kcredit limit. I feel horrible having that balance . I can’t imagine 127k in debt 😮
@snowpz9 ай бұрын
I could lit sort my life out and earn more if I wracked credit cards but these channels taught me better thank god lol. Just gotta grind and budget
@blackworldtraveler37119 ай бұрын
It is a lot until it’s zero.
@littlesongbird19 ай бұрын
Besides my family (no kids for me but an amazing niece and nephews) and a few closed friends, I don't get Christmas gifts for anyone else. I will do a grab bag gift at a luncheon each year (which sometimes is a regift) a few small gifts for my students I tutor (never something more than $5) but that's it.
@angel-ij4xv9 ай бұрын
this is why i stay away from credit cards
@gregzz9 ай бұрын
Dave "Live within your means." Americans - "but I deserve everything"
@justinebailey53339 ай бұрын
Exactly
@orichinal.9 ай бұрын
Breaks my heart when parents dig themselves into a whole for their children. I get it, but not at the peril of my retirement. There has to be a line.
@BrianWaller-qe7gr9 ай бұрын
We live in a society of simps. They always tell the wife yes instead of no because they don’t want her to get upset and take sex off the table.
@AnthonyMcNeil9 ай бұрын
That's the issue. It's sad because they make great income. Living within your means is so negative now but millions of people are in debt.
@pisicacutecat48697 ай бұрын
I'm so grateful that God opened my husband and my eyes over 8 years when we did the FPU. We are now debt free, except for our mortgage. 🙏🙏 These Americans doesn't like debt.
@helenhilton21589 ай бұрын
This woman sounds so scared! You can hear it in her voice. I understand her fear because I’ve experienced it with A LOT less debt than she has. I feel for her.
@_Y.Not_7 ай бұрын
why? she put herself here, knew for literally years this was coming and did nothing and NOW she's looking for an easy way out so she can "retire in 5 years" - she should have been scared when she was BUYING the $80,000 car.
@Happey679 ай бұрын
Lord! If I put $200 on my credit card I get stressed.
@RCGuitar9829 ай бұрын
you don't need the stress of having a credit card if all you're putting on it is $200
@cheryla.85839 ай бұрын
We can learn from others.. praying for her!!!
@macpduff21199 ай бұрын
Yes, let's pray for this couple. She is beyond the point of rebuke or criticism
@JayP-kd5rc9 ай бұрын
Me too. So sad.
@Polar-nv1oy9 ай бұрын
She gave us a lesson so we don't have to learn the hard way😢 at least we can thank her.
@MrBrewman957 ай бұрын
💯
@garystarkey62559 ай бұрын
$156k a year is excellent income but they were definitely spending 2x that with all the credit cards and car loans. I've been there before with a much smaller amount of debt that I paid off but no matter what it still sucks and definitely had to make some sacrifices but I'm just glad I'm on the other side of it now.
@curiouscat33849 ай бұрын
I heard her say that some of their expenditures were helping out their kids. Hope those kids are willing to help mom & dad after retirement!
@MitchGrooms9 ай бұрын
WOW, bless her, I am not going to put her down. People just get in trouble.. I hope they find a way out.. I was on this show last year and talked on line about what I was going through,, I get it,, I have zero debt but no retirement.
@macpduff21199 ай бұрын
Yes Mitch, 30 years ago my husband and I were clueless about money and were in the same place. I've never felt such terror in my life. Let's pray for this woman and her husband that God will heal their approach to spending. Something that helped me is when I realized that if God wants me to have something, He will provide the money first - although in honesty I've gone about $1,500 over my monthly budget since Christmas.
@blackworldtraveler37119 ай бұрын
Not needed. They put down themselves.
@MitchGrooms9 ай бұрын
great,,@@macpduff2119
@keepingitreal6189 ай бұрын
Shes got children who will do exactly the same. 0 sympathy
@Carlostheyankeefan9 ай бұрын
A lot of times you guys say to do private sale which makes sense, but most people are not buying 30k+ vehicles privately
@spankynater42427 ай бұрын
I say she take the dealer's offer.
@andresortiz5609 ай бұрын
As a family of 7 we make half of that and I just cannot understand how people make this much money and are this broke. I would say “poor lady” but she explained exactly how this was self-inflicted.
@ShonTolliverMusic9 ай бұрын
Me and you both bro. $13k monthly is a significant income. The irony for me is that understanding money isnt a prerequisite to earning money.
@mastafull9 ай бұрын
I can't fathom taking vacations with so much debt, charging them ALL on credit cards to make the situation worse, buying expensive brand new cars, and still somehow expecting to retire by 65. They are doing the complete inverse of, "Live like no one else so you can live like no one else."
@mikezerker69259 ай бұрын
New statistics show that around 51% of people making $100 or more per year are living paycheck to paycheck… it’s because of lifestyle creep… you make more, you spend more.
@mikezerker69259 ай бұрын
@@mastafull most of America is living like this and consider it normal.
@msk39059 ай бұрын
Really do you not see how others live? People with larger incomes think they need to show others this and thjnk they can live this large as they will always have money to pay it off. This is the American way with so many.
@NYNC889 ай бұрын
John's bullet wound comparison was ridiculous.
@bowebusi9 ай бұрын
I hate to say it but if you’re making 13k take home a MONTH. I do not feel bad for you. You played easy mode and still destroyed yourself.
@madikoko7 ай бұрын
I feel bad because they and their kids coulda had a wonderful life. Its sad they are in their late 50s and are half a million in debt when they could easily be millionaires
@jacobking11319 ай бұрын
In a weird way, I'm so thankful for this community. Not cause the caller situations make you feel better about your own, but that theres a safe haven somewhere of good advice where people are just being financially wise and growing from it. Very good resource to have when you're 26 years old supporting a single income household
@HairyTornado9 ай бұрын
She’s not trying to go into more debt, she’s trying to get out of her car and lessen her debt. Borrowing the difference from her credit union is exactly what Dave would tell her to do if she could get approved for it. I think you guys missed the mark on this one.
@sopapilla95129 ай бұрын
Yeah shifting as much as you can from 20% interest is going to help you with that snowball
@jeanettebenson71739 ай бұрын
Good catch Hairy Tornado. I love your content on KZbin.
@joycewright53869 ай бұрын
She tried and didn’t get approved. They are telling her not to use her credit cards because interest is too high.
@wojciechorama9 ай бұрын
TrueTrue... Call her back boyz and fix what you said.
@briankowald64659 ай бұрын
Dave gives credit union advice
@chaz32799 ай бұрын
“We’re trying to retire in 5 years” 😂😂😂😂😂
@tammyturowski67039 ай бұрын
They could tho. If they sold the house paid off the debt. Saved aggressively. They're ssi will pay a small house payment or rent in retirement. They need to sell.
@chaz32799 ай бұрын
I like the optimism. Selling your house to pay off $130k in credit card debit, and you better get your ass to work for the next 10 years. I don’t even take ssi into consideration for my life plan.
@411sponge726 ай бұрын
🤡🤡🤡🤣🤣🤣
@eaststreetvariety52143 ай бұрын
@@tammyturowski6703 You know thats not going to happen.
@7CardFlushPoker9 ай бұрын
I think the guys missed a chance to highlight to this woman that her ENTIRE lifestyle is about to change. She has been living well beyond her means, and she needs to be told that her life will never be like it was.
@AnthonyMcNeil9 ай бұрын
John did go there towards the end. He said she will have to accept that she will be working until she is in her 70s unfortunately. They also said they will have to sell their home too. So their lives will definitely change. She said she is willing to do anything. Her voice tells the fear she has. I hope they can do it.
@danlee279 ай бұрын
This was me a few years ago. 115k paid off in 18 months. Went full on intentional, every extra dollar went to paying it off, including every bonus. Sold the car.
@carterwgtx9 ай бұрын
Rare instance where bankruptcy is probably their only real option. No way they’re able to pay off 127k at 12-18% on their income. Selling their house is probably the only other option.
@midnightblue1179 ай бұрын
I agree
@amendaalmonte22369 ай бұрын
My thoughts exactly. But my only fear for them is bankruptcy wouldn’t fix the actual illness, which is their shopping addiction, and land them back where they started. It’s a risk for sure. Or sell the house.
@captainviper38889 ай бұрын
Bankruptcy you never learn. Root cause is yourself. Time to pay stupid tax and learn something before your right back into it
@R4d1c4lEd9 ай бұрын
They are making 13k per month. They wont let them bankrupt, will they?
@R4d1c4lEd9 ай бұрын
@@lagarde2011 Or as others suggested they have addiction problems: Shopping, alcohol and drugs etc ..
@Kurtdog639 ай бұрын
I think the attitude for many people regarding high end cars is, "The bank may own it, but the bank ain't drivin' it..." Staggering to see how people have lived much of their adult lives above their means and as they approach retirement age, the option to retire vanishes before their eyes. I started the Ramsey financial journey over 15 years ago and retired EARLY. Not bragging, just so grateful I was introduced to a different way of thinking about money, and life really.
@westbccoast9 ай бұрын
Yeah crazy right. You are blessed but yeah people like to live for experiences especially not and just don't think about their future/retirement. I rather die with too much money, than too little, you just can't live like there is no tomorrow. Always always live within your means, it's really not rocket science.
@OurPhantasticLife9 ай бұрын
I bout had a heart attack (not because of the CC debt, which is bad) at 5:03 when i heard the teams message 😂 I'm away from my computer listening to this hahah
@ghostbird929 ай бұрын
I know. It happens twice too! I had to replay the video to make sure it wasn't for me.
@AshLeynn99 ай бұрын
I looked at my computer thinking someone sent me a message. Lol
@jacqueline85669 ай бұрын
😂
@darkbee23599 ай бұрын
I had to replay the video to make sure I wasn't hallucinating.
@elpeke61969 ай бұрын
I'm $2K in credit card debt and I'm so worried. Believe it or not, inflation hit me hard for last two years. Everything went up but my salary.
@Ms.MD79 ай бұрын
I feel you; I'm literally thinking about every damn purchases I make because it's so expensive now
@joseperez20038 ай бұрын
Same here
@SRD12819 ай бұрын
Word of advice for anyone young and who's watching - form good money habits now.
@breezyveezy19 ай бұрын
They’ve really made some horrible short sighted mistakes by trying to have the best of everything. There’s no way they are retiring and I’m glad the guys told her that.
@snowpz9 ай бұрын
Lifestyle creep is a reaaal thing.
@genxx27249 ай бұрын
People make choices. Those of us who live frugally and invest deserve to enjoy a carefree retirement.
@genxx27249 ай бұрын
People make choices. Those of us who live frugally and invest deserve to enjoy a carefree retirement.
@snowpz9 ай бұрын
Everybody deserves that. @@genxx2724
@mligon9 ай бұрын
Around the 4:00 minute mark, the caller reveals that the monthly household income was about $13,000. And earlier in the call, she mentioned that the consumer debt total was about $127,000 (stuff for the house, stuff for their kids, vacations they shouldn't have gone on......) Oh boy, I am speechless.
@smileychess9 ай бұрын
That’s their monthly income.
@eclipse.52959 ай бұрын
I can’t even imagine making that much monthly 😳
@logansgamingworld81379 ай бұрын
@@eclipse.5295 Crazy that still wasn't enough for them to live the life they want and felt the need to go into credit card debt.
@robertjetski87369 ай бұрын
I agree advice was a bit chaotic. They were overwhelmed by the debt. The car needs to go though. 80K becomes 20K( Dave always asks about make of the car. It's good to know what people are falling for.) Selling the house is mathematically easy option not so emotionally. Dave 'd ask if they like the house.If they do they have to budget 50K a year for the next 5 years or so. It is a good lesson for a bit younger listerners like me.(I am 49)
@froniccruxis10499 ай бұрын
they have other consumer debt. 127k was just the credit cards
@DaveCompton51509 ай бұрын
I feel for this person. At her age, unemployment chances start to increase, either through the body and/or mind breaking down, or companies shedding older workers, legally and perhaps illegally. They could be stuck with big debts in their elderly years.
@djpuplex9 ай бұрын
Bingo this is about the time corporate American looks at these people as healthcare cost liabilities.
@turtleanton65399 ай бұрын
Ouch
@irishchocolate38729 ай бұрын
Yes. They are at the age where it is too late to make a major career change. Costco might hire her for $16 an hour but that won’t solve anything.
@mxerb59129 ай бұрын
Why? They bought an 80k dollar car.
@rxdawg759 ай бұрын
This statement is BS. The fact that it has 82 thumbs up is so disheartening. Let's not focus on the absolute greed of this woman and her family and instead on some hypothetical company being "evil". These people earn 13k per month! They are not stupid. They knew what they were doing but didn't care.....and now all the SJW come out of the woodwork and "feel oh so sorry" for her. She and her family are the reason why responsible people can't have nice things, not corporate america. The gall to call this show and shed crocodile tears for running up 127k in credit card debt is borderline sociopathic. If I feel anything for this person, its anger for being such a complete and utter douchebag.
@stillsober198 ай бұрын
When I first started getting CC I made sure to treat them like debit cards and pay them off in full every month. I watch a documentary on CC and the lenders call people who pay their balance in full every month “dead beats” - yes you heard that right. I use them responsibly and enjoy the Bennie’s
@brewsandbass55729 ай бұрын
I know some people that will be in the same situation soon and I don't feel bad for them
@spencerosei26169 ай бұрын
I didnt even know 127k on a credit card was even possible 😯
@genxx27249 ай бұрын
I’m sure it’s multiple cards.
@spencerosei26169 ай бұрын
@@genxx2724 It must be , I have a 50k limit on my Mastercard but 127k is wild so must be across several cards.
@khmanuel6 ай бұрын
Decades ago, I bounced a bunch of debt around for awhile on zero interest cards to pay it off, but I neglected to cancel them as the deals ended. Eventually I had $100,,000 in credit on these cards, and this was 30 years ago on a modest salary.
@geo8658339 ай бұрын
I'm a 29 year old man, I'm not in a good place financially. In life in general, for that matter. But this phone call broke my heart. This lady... I can't imagine what she feels.
@GAFB11229 ай бұрын
You're 29. You got a long time to live. Stay healthy, take the next few years to fix your finances and life and you'll be good to go. Just don't quit, keep moving forward!
@geo8658339 ай бұрын
@@GAFB1122 thank you. Very kind of you.
@iloveamerica39179 ай бұрын
Don't worry too much about her. She was smiling big on those vacations and when they drove a new car off the lot.
@geo8658339 ай бұрын
@iloveamerica3917 see, you have the consciousness and financial awareness to make good financial decisions. That's wonderful for you. She obviously didn't. But that doesn't mean that she isn't paying the consequences now.
@boston3129 ай бұрын
we can talk about Corporate Greed all day but the main reasons why so many Americans are in debt is their entitlements and impulsive decision making. This lady is paying for weddings, kids, vacations, homes and other materialistic crap that she doesnt need with her credit card. I personally know many people like this who think that they dont have to pay back the money or that the debt will somehow disappear as they chase the American Dream that they cant afford.
@blackworldtraveler37119 ай бұрын
Yup. Majority keep ignoring this blaming everyone else but themselves.
@greenthunder10009 ай бұрын
You get it
@adamseidel97809 ай бұрын
The American dream is owning a small home and raising a family on property you own with a bit of secure assets. It isn’t owning a boat and paying for multiple elaborate weddings and having an $80,000 car and a nonstop succession of home improvement items you aren’t willing to sell. That’s just vanity.
@blackworldtraveler37119 ай бұрын
@@adamseidel9780 Yeah people have gone from bunk beds to one bedroom/bath per child in the past 20 years.
@joycemckenzie57236 ай бұрын
I love it, who makes these BAD CORPORATIONS so Rich,,,,, WE DOOOOO!!!
@Eiriririruttitjejri9 ай бұрын
Look, I live in Argentina and the annual salary here is 2,400 USD, so 127,000 dollars in debt would be about 53 years of work. I instantly feel better
@spankynater42427 ай бұрын
Weak comparison. You also have to take into account cost of living.
@Eiriririruttitjejri7 ай бұрын
@@spankynater4242 argentina it's expensive
@Eiriririruttitjejri7 ай бұрын
@@spankynater4242 costo of living in Argentina IS EXPENSIVE
@davidsensing26649 ай бұрын
Wow. She should have called YEARS ago. Bad news, they are not retiring in five years. That is crazy. I hope they enjoyed the last several years of life because they will be working many years past what they want because of how they lived. They made big mistakes and now they are going to suffer the consequences.
@genxx27249 ай бұрын
It’s not really suffering. They already had more than their share of enjoyment.
@davidsensing26649 ай бұрын
@@genxx2724 Suffering because of their ignorance. I learned a long time ago working in financial services that just because you earn a bunch of money doesn't mean you are smart with it. My guess is they knew they were living well beyond their means but didn't want to face it till now.
@BrianW2119 ай бұрын
It didn't hurt bad enough years ago.
@davidsensing26649 ай бұрын
I see people just making the decision not to think about retirement funding because it isn't fun. They just want to enjoy life and not think about retirement...other than "I want to retire early". @@BrianW211
@adamseidel97809 ай бұрын
It won’t even be that bad. If they sell the boat and car and still live on a generous $5k a month they can throw $8k a month at their debt and be done in something like two years. It’s gonna kill this lady not to go on vacations, drive a fancy car, eat out, or buy a new piece of furniture every week though.
@macpduff21199 ай бұрын
I know Dave is against bankruptcy, but that may be the only option at their age. Problem is that if they don't change their spending habits, they may just be back in the same place a few years from now. Normally, I might be judgmental, but this situation is so sad that my heart breaks for this woman. This is the most emotionally moving Dave Ramsey videos I've ever watched
@amireallythatgrumpy65089 ай бұрын
It's only trading one set of problems for another.
@vickieclark59319 ай бұрын
I don't think they would be able to file bankruptcy cause they make too much money. All they need to do is change their lifestyle and quit spending everything that they make. Bankruptcy won't do anything for them if they haven't learned their lesson and they go back into debt in the next 3 years.
@johnlanier36169 ай бұрын
They do not qualify for bankruptcy
@adamseidel97809 ай бұрын
They can easily pay their debts, they just have to stop fucking around and actually apply their powerful income to paying down their debts and selling their toys. They are not a bankruptcy candidate.
@dreke10209 ай бұрын
Dave would’ve gave better advice than these two bozos
@FreeAgent7979 ай бұрын
At 59 years of age that's a very tough position to be in. They can definitely get out of it, but it's going to take A LOT of sacrifice and discipline. I hope it works out for them.
@CynthiaIvers9 ай бұрын
Hard to sell a vehicle via private sale when you don't have the title to it.
@monroe74039 ай бұрын
Not really, I've done it. The bank has the title. Once you agree on a price, the money pays off the loan and you get anything that's left. The bank will release the title to the buyer or their finance company.
@macpduff21199 ай бұрын
Excellent point. They also can't stage and sell their house
@iloveamerica39179 ай бұрын
The problem is they owe $88,000 on a car that Kelley Blue books for $56,000. No private seller is going to overpay that much so they've screwed the pooch
@deadgolfer63459 ай бұрын
@@monroe7403 I think what OP meant was "when you can't get the title to it". They are going to sell it for $58k but they owe $88k. The bank isn't going to release it to the buyer for $58k. How do you sell a car that you can't pay off even after you have accepted the money when you sold it?
@mikedonovan65839 ай бұрын
I owe $110 to my dentist and I'm annoyed about it. I couldn't even imagine this.
@carnivoreRon9 ай бұрын
I'm 71 and it's so wonderful I have zero debt. I feel so sorry for her, but she woke up so there's hope for her. I wonder if the debt was both of their irresponsible actions.
@carpediem64319 ай бұрын
Several posters have said “How can you get $120 000 in credit card debt?” Here’s the answer: Caller: “I just need to know where to go from here….. home equity loan, divvy it up equally between other credit cards, try another signature loan……..?” Response: “I hate to break it to you but just redistributing or moving your debt to another type of loan isn’t going to solve your problem.” Caller: ……………………………….. (empty air time) 😂
@jimmymcgill67789 ай бұрын
It may help.
@brianbest60979 ай бұрын
I always asked that how can one run up 120,000 k in debt. However, now that i think about it. The more you make the more cards you can get with more credit lines. Before you know it you're renovating you're house thats 40 k loan. Then furnishing with a wayfair credit card thats 30k. Then inerest and fee's which is 40k. Then little other cards charging useless items and thats another 10k. Then BAM you have 120 easy.
@darkbee23599 ай бұрын
I guess a lot of people are shocked that you could get a credit limit that high, even if it is across multiple cards. My credit limit is nowhere near that. If I was stupid enough, I could get myself into about $30k of credit card trouble but that's not even in the same zip code as $127k of trouble. Granted, I'm a single income family making significantly less than this couple but still, I can't imagine getting anywhere close to $100k in a credit limit. Oh how the other half lives! LOL
@macpduff21199 ай бұрын
Yes, they had a huge line of credit. Possibly multiple credit cards @@darkbee2359
@jordandowland72569 ай бұрын
@@darkbee2359If it’s available it’s pretty easy to max out after a few vacations and helping out your kids if you don’t have a responsible mindset.
@daelkolwitz35099 ай бұрын
The fear in her voice ... this is what you look forward to when you ignore common sense money advice and live for the moment. 59 with no savings and wanting to retire at 64. She's willing to do anything, and I'm hoping both of them are willing to work overtime.
@AbbyC5438 ай бұрын
I’m 64 and I still work (because I want to, not because I have to). I can’t imagine my survival depends on me having to work overtime at my age.
@aaronalquiza96809 ай бұрын
they're racking up $15k-$22k/year just in cc interest... dude.... and here i was, almost in tears having to pay almost $3k/year in cc interest years ago.
@justinebailey53339 ай бұрын
😂😂😂😂😂😂😂😂😂
@lyndapham40223 ай бұрын
I feel for this lady. Personal debt is so crippling. Thank you for sharing your story.
@PInk77W19 ай бұрын
My cc high was $27,500. I was insane. Now $0. Cut up. It was a war to pay off
@bantizzle799 ай бұрын
Going to be tough trying to sell a car that expensive via private party. I would get quotes from as many online car buying sites as possible.
@CynthiaIvers9 ай бұрын
Especially since she doesn't have a title to it.
@smileychess9 ай бұрын
I had a good experience selling to Carmax, slightly higher than a private party would have given me. No clue if that was a fluke, but It’s worth looking into.
@justinebailey53339 ай бұрын
Right
@bantizzle799 ай бұрын
@@smileychess Carvana gave me 2k more than the dealer offer. I heard CarMax was a good place to sell as well
@dunker2be9 ай бұрын
I don't get how people can be so oblivious for so long. She said the car was a 2023 with very low miles meaning she most likely bought it within the last year. They already had $250k in consumer debt at 58 years old, and then decide to go an additional $80k+ in debt on a car. On top of this predicament, only $1k in the bank and owning nothing of value (outside the 40% equity in the home). It's really hard to comprehend...
@collegedegree85069 ай бұрын
I feel bad because I have empathy putting myself in their shoes…. but then I just think about how I would never put myself in that situation. This is insane, it’s childish. They didn’t grow up until they hit 57 and are reeling from the fact that they can never retire now.
@j3rkch1ck3n9 ай бұрын
I know too many baby boomers, whom I’m close with, who have run up crazy debts like this and treat retirement like it’s an age vs a number. They want to retire this year or next year because they don’t “feel” like working anymore. If you don’t have the means (numbers) to support your retirement, you’re not ready to retire. It’s not a right. I’m seeing too many of people around me struggle big time because of poor decisions regarding this topic.
@turtleanton65399 ай бұрын
Indeed they are
@kensmart19769 ай бұрын
So many people think their entitled to something. Entitled to housing. Entitled to a cell phone. Entitled to cable and/or streaming. Entitled to health care. Entitled to retirement. No! Everyone is accountable for providing for themselves. You should not even plan on being Entitled to social security. The government wants you reliant on the ruling class so you keep voting for big spending politicians.
@mbnich02699 ай бұрын
She waited until she’s upside down in a fancy car and $100g in credit debt to start thinking about selling her wedding set. 😳
@_mfjones_8 ай бұрын
who needs 30 year old wedding set?
@MichaelJones-rn2pq9 ай бұрын
At $13,000 per month, they should be able to easily knock out the credit cards in 15-18 months. Then keep checking back to see if they can then qualify for a a loan to sell the car as the credit card total drops. I would not sell the house when they haven't even tried paying down the credit cards first.
@macpduff21199 ай бұрын
I totally agree that they should NOT sell the house. The associated fees with a house sale and move makes no sense
@DoctorSmartyPants9 ай бұрын
@@macpduff2119 Agree. And a good chance their new house payment would be higher.
@BrianW2119 ай бұрын
Yeah, don't sell the house -and- this would be a case where debt snowball would be highly inefficient Paying down the car first could knock out a lot more debt much faster if they can get the balance down to less than the value of the car quickly, sell it, and replace it with something else if necessary. The longer they wait to pay down the car, the more it depreciates.
@judiashley58188 ай бұрын
I was thinking that too rent is super high in Fla. Keep the house as they will need it. Pay off the credit cards even take the loss of the car but get out from the payment or have a smaller payment for their stupid tax
@GucciMousepad9 ай бұрын
Time to sell the house
@justinebailey53339 ай бұрын
Yassssssssssss
@austineromosele8481Ай бұрын
Sell the car
@roathripper9 ай бұрын
holy crap! that was INSANITY!!!
@lagarde20119 ай бұрын
Don't sell the house. Take a heloc to pay off the $20k to unload the car. That will save 2k a month in car payments and insurance. They can put that toward the heloc or the credit cards. The couple has a spending problem that they have to get to the root of. Since they haven't acquired toys, they're probably spending a lot on eating out, vacations and maybe giving $$ to the kids. Cut that out and start paying the bills aggressively. With a take-home of 13k/month they should be able to clear the 127k in credit card debt in a couple years. The situation is bad but it's not dire because they have such a great income.
@franziskani9 ай бұрын
gambling addiction ? Men spending on escorts or a mistress ? drugs ?
@rnt45t19 ай бұрын
looking forward to Ramsey & Co. flailing in the wind in the coming economic downturn. Nobody will survive!
@Michael-ft9pm9 ай бұрын
I can’t breathe after listening to this
@vtech9206 ай бұрын
I panic when I owe more than $1000, I couldn't fathom how I would feel knowing that I owe $127k in Credit Card Debt.
@kaylighboo19879 ай бұрын
It still absolutely blows my mind how someone making 13 fcking thousand dollars a month is 127k in CC debt?! And yes ik it’s about lifestyle but good lord! I make $3500 a month with 45k in savings and NO cc debt. Not to mention who TF buys a 80k car when they have $127k in CCs
@lot21969 ай бұрын
Sometimes I think they are spraying us. Retire in 5 years? Umm......nope.
@dearestdarling94679 ай бұрын
Yeah, I was shocked when she said that. More like 15.
@lot21969 ай бұрын
@@dearestdarling9467 She even mentioned they still have student loans. At 59? Could be for their children I guess.
@olaabi22299 ай бұрын
I don’t understand how people spend. If I don’t save some money every week after expenses I feel unfulfilled. I use only credit cards and pay it off. I’ve gotten thousands in free stuff from credit cards and have paid only a $30 late fee once. I finance electronics a lot but make sure I work overtime to pay it off without using my regular paycheck.
@andrewvisiko52509 ай бұрын
it is the American way of living, particularly within a debt-based monetary system. There's a critical lack of financial education that perpetuates a cycle passed down through generations. The baby boomer generation is often seen as the starting point for a pattern that has continued through Millennial's and now Gen Z. The prevalence of buy-now-pay-later programs and the broader culture of instant gratification have, unfortunately, enslaved the middle class, preventing them from building real wealth. It's a deceptive cycle where outward appearances often mask the financial struggles many face. The concept of living above one's means, often fueled by a desire to borrow into prosperity, has become a common but detrimental mindset. While having a good credit score and using credit responsibly can hold value, the challenge lies in the widespread lack of self-control. Many individuals find themselves in challenging financial situations due to an inability to navigate credit responsibly. This reality is a key reason why financial experts like Dave Ramsey discourage the use of credit, especially within their audience.
@turtleanton65399 ай бұрын
So nice😊
@LoverboyB_Pookie9 ай бұрын
life happens G
@letsgotomarsman9 ай бұрын
Ok nerd
@vickieclark59319 ай бұрын
I'm in my early 50's and I do worry about getting my retirement up and that's without having all that debt. I can't imagine the fear that some people feel when they are literally at retirement age with no money and mountains of debt. Hearing calls like this makes me realize that I could have it worse than I do. I hope she and her husband band together and get this mess cleaned up ASAP. They make good money, so if they take George and John's advice on what they should do, they may be able to retire. Not at the age they were hoping for, but they can still do it. They just need to quit borrowing money on everything. I wish the best for them.
@neeferpd9 ай бұрын
They'll never be able to live anywhere close to the lifestyle they've been living, but assuming they've made big money for many years, they'll have two nice social security checks to take care of their basics. They'll have to live within their means at that point but at least it will be a nice chunk.
@FA-pw1yg9 ай бұрын
Tina you are courageous for doing this! Keep moving forward
@larose65519 ай бұрын
Classic case of “keeping up with the Jones’s “
@mariorta50179 ай бұрын
Big hat, no cattle. They been spending like idiots.
@comeonman91389 ай бұрын
Years and years of complete irresponsibility. Amazing
@tmi45079 ай бұрын
I can’t fathom how this would feel to be 60 years old, facing a potential to be forced to sell your house, and realizing that you might die working versus you could’ve enjoyed the last 20 years. Like if anything people in their 20s and 30s need to listen to this and plan accordingly. This is primarily sad because these people made their own financial choices to get to this situation. Sometimes fun in the present is not worth the pain in the future. Sacrifice in the present ensures peace in the future.
@Insufficient2022 ай бұрын
Dr. Delony’s reaction when she said “127k in credit cards” was my same reaction 😭😂 2:07
@enricopallazzo32449 ай бұрын
You ain’t retiring in 50 years, let alone 5.
@machutson54939 ай бұрын
Exactly
@robertjetski87369 ай бұрын
They have 150K income. Its doable in 10-15 years. Scorched earth though over the spell. And afterwards as well.
@R4d1c4lEd9 ай бұрын
@@robertjetski8736 You are talking about people who are taking regularly loans for vacations. They are not retiring in 50 years, let alone 5.
@@robertjetski8736They may not have 10-15 years left of being able to work. Physical and mental health can go down dramatically and quickly at that age.
@firegirljen9 ай бұрын
1:55 oh, but I thought this show always said that you didn’t need a credit score, turns out you need a good credit score to go to your credit union to get a loan OK😂
@jdtreharne9 ай бұрын
They say that if you're debt free you don't need a credit score
@thisguy72019 ай бұрын
You only need a score to take out more debt ya ding dong😂😂
@firegirljen9 ай бұрын
@@jdtreharne that’s great. How many people do you know that are debt-free
@firegirljen9 ай бұрын
@@thisguy7201 when presented with logic, you result to name-calling. How..:predictable. I’m sorry wasn’t itKen from the Ramsey show who told her to go get a loan from a credit union??Oh, OK go pray to your gods. 😹
@firegirljen9 ай бұрын
@@thisguy7201 you do understand that a better credit score will get you a better mortgage rate, right? Or do you want to spend tens of thousands of dollars more over the course of your mortgage? Sounds like you’ve got it all worked out.!
@bradleymaravalli28519 ай бұрын
The car is worth $50-60k and the car dealer is offering $58K!? I would accept it and move forward in life. Moving on ASAP would allow them to work extra jobs in lieu of trying to find a loan company to pay off the car to get back the title and to then find & meet people to then buy a car.
@evanoman75879 ай бұрын
Problem is they owe $88k on the car (they kept rolling negative equity into the next loan)
@deadgolfer63459 ай бұрын
Yeah, but where are they going to get the other $30k?
@bradleymaravalli28519 ай бұрын
Their problems is getting the $88K loan. Will be easier to get the $30K loan. Whether through a personal loan or a HELOC.
@deadgolfer63459 ай бұрын
@@bradleymaravalli2851 Why would they be looking for an $88k loan? They already have an $88k loan. They only need a $30k loan.
@judiashley58188 ай бұрын
Exactly take the offer and the loss but it will get it off their balance sheet and then tackle the credit debt. Get er done
@DisabilityExams9 ай бұрын
Half a million in debt and they went upside down on a $100,000 car last year, and want to retire in 5 years.
@dearestdarling94679 ай бұрын
Considering the full scope of her situation, I think George and John are right. Selling the house is the best option, they have surpassed their limit when it comes to borrowing for the difference on the car. Banks won’t approve them, so their only options are to sell all their personal belongings and pay it, earn more, or sell the house.
@talyahr33029 ай бұрын
I'm worried about that though. Due to their credit score, which takes time to fix, Idk how easily they'd find another place to live. Even apartments might decline them. Hopefully that $13k monthly pay stubs will put landlords at ease because they MAKE money!! They're just AWFUL at spending it.
@buckibanker9 ай бұрын
They should be able to pay this down in 2 years without selling the house. 4 to 5k a month going toward debt and the negative equity and selling the car frees up a huge payment, likely 1200 a month at least. They just need to cut expenses to the bone