Our Debt Is Crushing Us

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[@TheRamseyShow]

Thanks for watching! Make sure to push that subscribe button to stay up to date with the latest videos from Dave! kzbin.info

[@met3839]

The Dave Ramsey Show please please help little more about defferal hardship studdeng loan n credig history sir thank u

[@ryansetliff7416]

Have ever critiqued our crooked pyramid scheme-logic fractional reserve banking system? It's practically conducive to debt and moral hazard.

[@ImOldandSoAreMyBooks]

The Dave Ramsey Show I think we’re just going to have to disagree on this point. You may not pay taxes, but you do pay interest. A average 7% interest rate on a million dollar loan is $70k a year. That’s a lot of fries.

[@dancegxy7757]

$60,000 in cars and can't afford an oil change! There are no words.

[@ChrisMFlorida]

I like how she chuckled when Dave said sell the cars and don't go out to eat for 3 years.. That means "yeah right Dave. We aren't savages."

[@jutde]

Yeah, I don't think she was really listening there towards the end with her generic "Aha. Yeah. Aha." replies.

[@HereIsWisdom1318]

$60,000 in car debt! There it is!

[@kathurtado13]

😆😆😆

[@1redrubberball]

$60,000 is about my expenditure for a half century of cars, and my 7 year old, paid for, Challenger R/T is still worth a solid $20K.

[@1redrubberball]

@anonymous reviewer You may be right, but unless you're a dedicated non car owner, I'd say that the likelihood of inflation will not support you.

[@PInk77W1]

Going to college and buying a house has NOTHING to do with “doing everything right.”

[@darrenkrock736]

they didn't do anything right. They took out student loans, a mortgage and credit cards. All debt!

[@thomasgrey6309]

Their "doing everything right" seems to simply be the acquisition of the physical trappings of the formulaic American Dream.

[@carojames6776]

Him Bike. Decent money but made poor choices.

[@bradleysherman4878]

Thomas Grey Well said.

[@PInk77W1]

I’m a high school drop out • no student loan ( no debt ) • no car ( no debt ) • no credit card ( no debt ) • no med bills ( no debt ) • I paid for my daughters masters degree cash So she has no student loan debt. I work manual hard physical labor. It’s just living below your means.

[@angelinagoldstein3501]

How do you get around without a car?

[@PInk77W1]

Angelina Goldstein I’m 58. I’ve been thinking and planning since I was 12. The main difficulty is a lot more planning. I have 4 - $6000. Bicycles. So I’m a hard core cyclist. I rent a car once in a while I take uber once in a while. I’ve taken 100s of city buses. One time I was cycling across USA and my bike started to wear out so I went on Craigslist and got a ride share from Austin TX to SF Calif. $100. Gas money. LoL

[@PInk77W1]

Kate B I’m not very fit. But I’m more fit than the ave 58yr old that’s for sure. I live in Amarillo TX and my daughter lives in San Diego. 1100 miles. I like to ride my bicycle to visit my daughter. One time after I got to SD Me and my daughter were having dinner and I said to her “I can’t believe I’m 58 and rode my bicycle 1100 miles to visit u” She said Neither can my friends. LoL

[@arc3337]

@Him Bike when I grow up, I want to be like you.

[@PInk77W1]

Amanda Castrejon LoL. Thx. I was riding my bike across China once and was riding with a 19yr old girl for a few miles. She said the same thing !!! I told her, no just be yourself, you are the only one of you God ever made.

[@ImOldandSoAreMyBooks]

The average middle class American folks. Broke and just trying to make it to next paycheck while making almost $100k a year.

[@yomiflz1287]

I Should Know This did you learn that is school 🏫? Sometimes debt is good.

[@ImOldandSoAreMyBooks]

Yomi Flz Dude are you really arguing about the value of debt on the Dave Ramsey channel?

[@yomiflz1287]

I Should Know most people are not responsible that’s why they shouldn’t have debt. there is good debt and bad debt .like if you barrow 1,000,000 dollars to buy a McDonald’s that’s good debt. Just saying its easier to barrow a $1,000,000 instead of making 1,000,000 and you don’t pay taxes on a loan.

[@davem4193]

@@ImOldandSoAreMyBooks it's amazing that the "American dream" has turned into having a negative net worth and living paycheck to paycheck.

[@ibobeko4309]

Are there no regulations in America ? In Austria to get a loan you have to show a marathon of statements and finance reports.

[@BassPlayer60134]

$90k a year and they stress about an oil change...

[@MAG-hv9qj]

BassPlayer60134 When you're an economic maniac, you watch every penny .

[@grindhouserob]

Apparently not.

[@mysticaltyger2009]

At least they are admitting they have a problem and are willing to do something about it. That's better than most people in this situation.

[@djd829]

Time to learn how to change your own oil. It's really the easiest thing anyone can do for their own car. You need a wrench, a jack, and a bucket. Either way, I agree with Steven Magallanes, which is why I change my own oil.

[@mikenelson8377]

MAG I get that but an oil change?? $30-$50 bucks. Or if you have the tools and knowledge just do it yourself.

[@FIFAkidd]

I just wanna say thank you Dave, I'm currently in baby step 2, I started 2017 with 10,000 dollars in debt; 4 months later I'm down to 4,000. Watching all the debt free screams really motivates me to finish, I can't wait to breathe again!

[@PInk77W1]

Good job

[@youngjedi5599]

How are things going bro?

[@jamesfreeman9703]

Why do i have a feeling that most of these people don't listen to dave?

[@mysticaltyger2009]

Actually, I think this woman and her husband will listen and follow through.

[@Vydio]

My guess is many don't want to hear they have to not take vacations, not go out to eat, cut the cable, ect.

[@sunshinelawfan7693]

They BK most of this. Student loans are not bankruptable. The rest they will ditch.

[@michaelmarquez6133]

Because you wouldn't hahaha

[@ironmanironman408]

Discipline is a bear short term,,,but long term is sweet,,,,money piles up$$$$$$$

[@glennmerlini2895]

they will never sell the cars dave

[@jimroscovius]

Then they really don't want to get out of debt.

[@mellel1797]

"... let's put the cat on Craigslist and the dog on eBay...". I love Dave's no nonsense approach! Scorched earth living!

[@bradjenkins123456789]

the cat on craigslist and the dog on ebay hahahahaha

[@RichardDLS]

I like how she said at the beginning “we just wanted to do everything right, we went to college” hahahaha

[@adiaz1182]

I guess I didn’t do things right...no student loan debt though 🙃

[@danielponder690]

I’m guessing first generation to go to college in her family - or everyone in her family did go back when school was cheaper and debts were lower

[@nunyabidnes6010]

And what did you do with your life instead of going to college?

[@lesterparker1594]

The college bug got me too. I grew up poor as dirt. Was told that college was the only ticket out. I mean, it worked. I’m married and I’m the first person in my family to buy a house. I’m not completely out of debt but I’m getting there. I’d say it was worth going $34k in debt.

[@sidharthchand8072]

I'm pretty sure they own a time-share as well 😂

[@dogan6070]

I bought my Honda Civic 4 doors sedan for $500,. I love it. 1.7 engine. 4cyclinder

[@Mudoh415]

How?

[@MarksTournaments]

Mudoh415 super old civic, don’t get one that cheap unless you know how to fix cars

[@ifitswowitsme]

That's the exact car I drive

[@Chinunit22]

@islandman692k3 Head gaskets on those engines can be repaired for less then 1000$

[@klauser10]

They thought that by graduating they could have the american dream - on credit. Somebody lied to them.

[@deepsoul3256]

"What do you own you can sale?" Um...myself..lol

[@justrandom8766]

My husband says he's too stressed to talk about money. I said if you don't talk about it you can't control it. Its taking a long time for him to understand. I write it down for him so he can see in black and white. Think its begining to sink in.

[@jessy6603]

Why should they buy cars worth 60k if they have 100k in student loan debt with 90k income’ it’s just common sense’ I don’t how these people make these decisions and then call Dave ramsey’ simply it’s dumb to buy so expensive cars when u r already drowning with 100 k debt

[@infidelheretic923]

This guy is like the Dr. Phil of finance.

[@sarahlisa4627]

They're not going to sell the cars..

[@roxannegordon6162]

"Hi Dave, I'm well. I'm good....so basically I'm drowning in debt to the point where I overdosed on sleeping pills but they didn't work. I woke up."

[@regularity2556]

🤣🤣🤣🤣🤣

[@kikialiens8207]

These videos are great I'm addicted to them

[@fanmaxis3004]

Boy I'll tel ya, in Nov. 2018 I was in near $13,000 in car and credit card debt before I got my current job. It is now June 2019 and I only have $950 left to pay and will be done by the end of the month. The key just like Dave says is to stop spending and start attacking it with a vengeance. Though i have over 50000 in student loan debt that will kick in by dec. I plan to follow the same method.

[@ErrorPagenotFound-ig1cy]

Caller: hangs up... “that’s gonna be a hard NO”

[@jcrowley1985]

I make 25-30k per year, and while I barely scrape by, I do have no debt and am able to pay the bills. How can someone with 3 times or more call in and complain that they're broke. If I made 90k, I'd live like a king.

[@jcrowley1985]

90k a year is about $7500 per month. Mortgage payments are about $1300 (principle, taxes, insurance) for a $150,000 house. If they stick to Dave's advice of having no other debt other than a mortgage, they would have over 3/4 of their income still available after their mortgage payment. They have tons of disposable income to set aside.

[@lim2bemomparent696]

I make $103k/year and my take home is only $4800 month, so I doubt that they are bringing home $7500. You have no idea what/how much is coming out of their paycheck.

[@daugorji9347]

depends where you live no 150k houses around here

[@beccadotelpy]

lim2bemom parent $4800 is probably ~3x the original commenter's take home pay. That'd be quite a pay raise for them...taxes or no.

[@demo2382]

jcrowley1985 You shouldn't be "scraping" by if you have no debt.

[@jaysmith6013]

Very hard to go from getting everything you want to NOTHING. I wish them the best of luck and pray they get out of debt.

[@Ezinma88]

It's so frightening. $200k!

[@erodz2943]

$60,000.00 on cars!!!! Sheesh, my house cost $45,000.00.

[@mistermood4164]

45k!? where do you live?

[@lllllllllarose]

You bought it 50 years ago?

[@TimeisUp22]

Co-Op?

[@keyroncampbell]

@@lllllllllarose no... 6 years ago you could buy a house for 40k, now it's 150k or more.... In the same area.... I got mine for 40k and sold it for 80k, found one for 80k, a fixer upper, now it's Worth 145k.... Real estate is all about timing...

[@keyroncampbell]

@@terryhartwick1344 be patient, it will happen again, the housing market will crash again, just save your money and be ready...

[@srtstl2599]

Dave: “ Lets put the cat on Amazon and Dog on eBay.” Caller: Hahaha Dave: IM SERIOUS!!!!!

[@channell11]

I like his saying "Start selling so much that the kids think they're next!"

[@davidl5982]

Dave, I can't tell if you're callers are legitimately in debt. All your callers seem so cool about it. Why aren't these people freaking out?

[@m.c.58]

Pride and image.

[@spankynater4242]

First of all, it’s not an acute situation. Second of all, not everyone runs in circles screaming while waving their hands in the air when things get tough.

[@terryjohnson8317]

Used to make 70K a year and was always broke. After 24 years of marriage I got divorced and I changed what I work at. Now I make 40K a year have money in the bank, no debt, because I have no wife

[@real8342]

I will never live above my means..minimalism is what a pursue

[@beegee4791]

I’m right there with you sir! I literally just got rid of more of my clothes this evening, my back hurts so much from all the clean out. I won’t stop here though. God help me

[@MFlint-un2tq]

Poor financial choices, they make enough money combined to not be in debt .

[@justrandom8766]

Live cheaply. My ex husband had car loan after car loan and would never listen to me. We had to go bankrupt. Immediately i seperated our finances. So glad to see the back of him. My new husband hates debt and talking about money but he's getting better.😃❤

[@jamiechang1561]

Thank you for always inspiring me to strive for budgeting. You're videos are awesome

[@nancywidows463]

I understand. These guys came from difficult circumstances and tried to do what they thought would be right to get the American dream, and rise above their pasts. But they ended up in a self made prison instead. It wasn't intentional. And it's not insurpassable. Now they see what they really need to do to be free. I wish them all the luck in the world. God bless them.🥰

[@catherinep4707]

Dave: No dinners out for three years Woman: ......giggle...... Dave: 🤬🤬🤬

[@samallen5213]

Catherine P this couple will probably still be in debt when they retire. Champagne life style on lemonade wages

[@freedominabudget]

You can tell she's serious, I think she will get through this! She needs to go through FPU with her husband!

[@denisebenedict9692]

I dont know where these people live, but a $1000 car is in the junk yard. You cant find a car that is drivable for that price.

[@twilde3754]

Dave, I love your directness -- it's scary, but, oh, so necessary!!!

[@gigi8528]

..... I'd be sweating bullets if I were them...

[@mozillagenesis]

Jesus Christ... please do not tell others what to do! Thanks.

[@gigi8528]

Mozzie exactly, I wasn't being disrespectful towards him

[@Thelegendl23]

"Put the cat on Ebay and the dog on craigslist, you're broke!" - Dave Ramsey

[@whitneyw.7919]

One of Dave's best videos!

[@tamekad-b1014]

"we did everything right".....not really

[@ezramullen4551]

Far from it!

[@tamekad-b1014]

Big Bubba she said “AND WE DECIDED THAT WE WERE GOING TO DO EVERYTHING RIGHT” right before going on about how they went to college and what the issues they have are so I don’t know why you felt the need to comment. There are a hundred other ones that stated the same thing I did because that is what she said 😒

[@tamekad-b1014]

Ezra Mullen yep smh it’s unfortunate but before Dave at some point we all thought we were going down the path we were supposed to because pretty much everyone else was

[@tamekad-b1014]

Big Bubba I didn’t say it wasn’t. However, there are smart ways to go to college. Going to a community one for 2 years, working to save for university and maybe going to one that is more affordable. College isn’t that great if you end up have debt up to your neck that you have to pay decades on since it would rob you of building wealth. So many people who make six figures that have high debt that call in know that far too well.

[@jrodpetey8630]

Haha

[@tinalindsey1598]

The college educated people I know learned how to drink. That's it.

[@mangosteen80]

lol "cat on craigslist and dog on ebay"

[@jayelliott9295]

j leigh LMBOOO !!! Okay I now know that I wasn’t hearing things. I thought that’s what he said... lolol!!! Hilarious!!!

[@medtalks8073]

Sell the car and dog 😂 That got me howling !

[@gregorypaine513]

DON T INVOLVE THE DOG POOR DOG HAS NOTHING TOO DO WITH THIS!

[@clarifyingquestions]

Tara call back in three years - please!!! Do it - get fired up and wired up:). Thanks for the call!

[@jojohns9670]

They will NOT sell those freakin cars!

[@ianmowbray3284]

$60.000 in cars lol

[@BellaBeastTv]

before we get passed the lip and cant get back in the bowl, love these quotes lol

[@blanco_games2208]

why does no one ever think about community college? im going to be an auto mechanic and financial aid is paying for everything plus some!! and when i get out of school in a year i'll be making 20 dollars an hour or more and im 19 years old. university's arent the only option....

[@TaniaTanii]

carlyle ward u r correct. I also went to a community college for my associate then transferred to a four year university with an IT major and I am making $140K with benefit in just 5 years. Of course I got finical aid and had work study at the community college and I only paid $25k for my undergrad. I am making $140k with benefit and I have no debt of any kind so it is possible to live well even if you go to a community college for short time :). I don’t know why people don’t make it here in the land of so many opportunities. FYI, I am an immigrant :)

[@blanco_games2208]

@Big Bubba thank you, but I got cocky haha. I had to, unfortunately, quit the program. life changes so fast man. In all honesty though I don't think the auto tech job was for me, like I had previously believed a year ago, as you can see from original comment. But best of luck to you as well my friend.

[@tonyahenry4167]

No matter how much debt your in and how stupid you think you are it's always someone much worse off ....Dave gave her the advice let's see if she takes it

[@30World]

I hope these people took dave's advice and handled their business. Even though their situation was bad, its nothing they cant come out of.

[@fpl_bailey]

Sounds like Ken and Barbie

[@oceres]

Love it Dave!

[@l-train7876]

Put the cat on Craigslist and the dog on EBay🤣

[@kimmmunsey4184]

I like the HONESTY 💜 I am in 2000 dollars in credit card debt only...feel ok as 2 1/2 yr 6000 No car loan No mortgage CANT THANK YOU ENOUGH STILL HAVE AWAY TO GO STILL STANDIN ☮

[@Promisedland_garage]

the cat and the dog on ebay LOL

[@julionunez4701]

You’re a great man my brother.

[@sasasavage5047]

Too bad Roderick couldn't get this calm attitude. All he got was belittlement and insults.

[@timothyp9252]

my point exactly!

[@fpl_bailey]

Gina H you must be new here, any thing over 300,000k in debt gets Dave going. Go and watch his previous videos. 670,000K in student loan debt is Insanity.

[@adinahwithkaden]

Yeah that was so uncalled for. And Roderick was right - family medicine has gone up in pay

@3:08 beans and rice, baby! It’s go time! 🪖

[@percyastronautstatus.8780]

Cat on Craigslist , dog on eBay".....lol.......love Dave.

[@JILLYBEAN88888888]

you are an amazing generous caring man

[@GamingTaylor]

So many females who call and when asked about their job they say they have kids... Seriously? If you are going to have kids for the love of God you need to be financially stable... If not don't have kids.

[@nhgriff1]

Or at least get a job and support them.

[@cactaceous]

You should have told that to my soon to be ex wife. She needed to have a child, needed, it was what she felt she was born for, but had quit her job because it was too stressful. So... when she got pregnant and noticed that financially we were upside down, she refused to het a job and started barking orders. I had to go get a different job. I had to. Better make it quick. After a year we moved to another cheaper city because I took a different position with same employer. She needed an apartment in a safe neighborhood so that meant paying what we were paying before. She still refused to get a job. Well... same thing happened. We ended up financially strapped. Now, we are getting divorced because according to her, I'm a loser.

[@annettepowell484]

cactaceous Wow you poor guy.

[@vivianp5962]

We made $23,000 a year , i stayed at home and still a stay at home mom. Lived in a great safe affluent county. Still kept the 401 k. And we still made it. Now making $45,000. One income house hold. Its all how you budget. So, have those babies women, don't let someone else raise them (daycare,sitter) you'll regreat it in the long run. Families more important than $.

[@vwalker58]

This Thursday I will meet with a financial advisor.👍

[@NadeemMansouri]

honestly with 90k they can make it out in 3 years. My expenses add up to about 20k a year while living in downtown dallas.

[@elnoraabduqadir2297]

Why most people with student loan and lots of debt buy a house?? Thats us soo d....

[@Winston0Boogie]

"LET ME SEE YOUR WAR FACE!!" "AAAHHHH" scorched Earth mindset

[@tinalindsey1598]

It's not how much you make it's how much you spend.

[@joejonas6816]

Doing things right means not spending money you don’t have. This couple did the opposite of that at almost every opportunity

[@bluerosa1550]

good plan .

[@thomasharding7771]

In the words of Dave, "spending like congress" hahaha

[@tonyahenry4167]

Sell the cat and the dog 😂😂

[@gregorypaine513]

Not good!

[@peacewithoutdebt1487]

finance manager did not care about her when he sold her the car, he just wanted to make his numbers and get her off the lot. That's the danger of thinking in terms of "how much a month?" vs. "what's the total cost?"

[@hollyb6885]

Their stupidity was evident as soon as she said “we did the right thing-we went to college....’ There are many good paying jobs out there that don’t need a college degree. Look at the trades. Trade school won’t saddle you with loan debt for the rest of your life

[@spankynater4242]

College also doesn’t have to saddle you with student loan debt for the rest of your life. If you do it right.

[@davecopp9356]

I like the accent, ever since watching Justified, the netflix serie I would like to live in KY.

[@blackhoodiefitness5862]

Dave "what is your household income" ramsey lol.

[@rolom.thesecond3176]

Dave it the nail on the head and was a bit literal (in my situation), with the scorcher part. Learned my lesson with being with family. For 20yrs was taking care of my Mom. Should have put away $$$ left & right. Living with family does has It's pros but the cons (like having ur own food & stuff to drink) is far and between...a life lesson.

[@djd829]

I don't understand why he's good with a deferral on student loans. My wife did this for a year while she was in a master's degree program that was paid for by a non-paid internship. The interest accumulates during that referral goes into a "separate" account that you have to pay off in itself before you can touch the principal. We ended up $3k more in the hole because of that, meanwhile interest is still adding into that account while you're paying _that_ down. Most people would go a long time in just trying to "pass out" the interest accumulation because of this before they even started chipping at the root. I get the whole snowball idea, but the idea of pretending a payment doesn't exist doesn't make any sense to me. We've paid it off many years ago, but I wish that approach was never taken. You might as well be paying interest on the interest.

[@spankynater4242]

Interest doesn’t accrue while you’re in deferment. You’re thinking of forbearance, which is bad.

[@djd829]

@@spankynater4242 That only applies to federally subsidized student loans. With unsubsidized loans, you will still accumulate interest with a deferment.

[@spankynater4242]

@@djd829 then he was probably OK with it because it was a subsidized loan.

[@keyroncampbell]

90k a year is nothing for 2 people

[@JamaicaDancehallTV]

Cat on Craigslist dog on eBay lol

[@nhgriff1]

Dave, please pay attention to the ad that is running prior to this call. I don't think this is a sponsor you would want.

[@brandonrides8953]

Am I the only one that thinks no one buys private sale economy cars? that are $10k+ that is. Only private vehicle sales I see are $1k-$10k cars, or big money classic cars. No one is buying someones 2017 Rav-4 with 10k miles on private sale for $25k

[@toddryan0108]

People living WAY beyond their means. It’s sad

[@rayhill5767]

You got it all. Now you got to pay for it.

[@hbarudi]

This also involves cars and if they are gas cars at $30,000, they are not worth buying. Used gas car must be less than $10,000. New gas car must be less than $20,000. Anything over $20,000 but below $30,000 must be hybrid. Any car above $30,000 must be electric with at least 300 miles before it says battery low.

[@sarahthomas2506]

Some people like driving around in them expensive cars! Lexus, Mercedes, ,BMW, and more! Some maybe struggling I don't know! If you got it like that guess you can afford it! I don't want to try to buy a car like that! You don't know what can happen later down the road! Illness or anything! Good luck!

[@evaramirez910]

Wish I would have found you sooner

[@Trevonious95]

yall are all so much different than me, everyone needs so much money to even live, while i have everything set, no debt and save 50% easy but then again i have no family or expensive car

[@erikaerika7788]

how to ensure that medical bills are covered? even with my old HI had to pay $5k deductible and 10% after, 😭 if i break a leg $150k bill 😔 it would break me, like a couple of people i know 🙋

[@iphoneusdsd]

Budgeting or basic economics should be mandatory in school.

[@nunyabidnes6010]

Economics is mandatory. Y'all just don't listen or pay any attention

[@vman9347]

Just hearing that debt hurt my soul. And I though my $10K total debt was terrible.

[@crowtservo]

$1 menu at McDonalds is the closest to a restaurant they’ll be going to.

[@Ink30]

Not a dollar anymore

[@326yumariver]

I'm in the same situation. the credit union where my vehicles are financed through will not do an unsecured loan on the negative balance. What do I do now?

[@brianjonker510]

Are you emotionally ready to slay that debt beast?

[@bobmarker6812]

3:30 - I knew it!

[@roolyfe]

I am in 100K in debt and I manage to budget. Living over your means.

[@lovekindness5637]

Waweru N. Gatimu why debt is dumb cash is king you from Kenya

[@luisasterioquerubin6829]

Glad the guest was correct when she said, "I'm well," which is grammatical.