Request-Only Losers Go Into Debt

[@kevinmiller8111]

Went to school to be an engineer, now making double what I was making beforehand. If you are going into debt, make sure you do it with something that will actually make you a return.

[@subscribefornoreason7390]

The problem is that delusional people can't tell the difference. They could confuse spending and debt. They end up paying with no return or negative return otherwise known as spending ,but worse. When spending money you don't go negative. When going into debt you spend what you don't have.

[@coryleblanc]

how's business now? heh

[@dauphinviennois]

Education is the only thing that’s worth going into debt for. 📚

[@Jimothy-723]

going into debt in general is something that should simply not exist. the only exception is if your very life depends on it, like in a car crash or something.

[@Jimothy-723]

@@dauphinviennois"muh educashun"

[@darbirhian]

My spouse and I know more about finances than our baby boomer parents, especially mine. I was given NO guidance about anything in order to become an adult, really. It's a very weird day when you realize you have outgrown your parents in some crucial areas of life. Very bizarre.

[@GearsDemon]

Yea my parents let me look at their finances a couple of times after I did a ton of self study and my silly dad had over 12 grand in a savings account earing 0.5% interest while owing 35k on a credit line at 3.2%.... JUST THROW IT ON THE DEBT. I was stunned..

[@brsh496]

darbi rhian I've outgrown mine in terms of planning out my future with an effective, realistic, and feasible plan that is very achievable.

[@GinJ1337]

i have also outgrown them in financial education and built a portfolio for them that i manage since a few years. they were literally stunned when they saw those dividends pouring in at yields of 4%-7% instead of the 0,1% or so interest they got previously. but yeah, they dont even know what inflation is. they are just wondering why stuff gets more expensive and blame it on politics. they are the norm though, most people have no fucking clue

[@fuckotheclown7695]

darbi rhian Hahaha yeah it is an odd feeling. I outgrew my parents this year and they are more than twice my age.

[@theultimatereductionist7592]

+darbi rhian Only idiots pretend that some particular generation knows more or less than theirs about economics. There have always existed humans who have gone into debt, most out of desperation, but others out of their own stupidity. There exists nothing unique or special about the so-called "baby boomers" or "generation X" or "millenials".

[@harveylin3548]

I got told twice in a day by two of my most close friends that "I am only 12k in debt", and I was just dropping my jaws. Then I remembered the US is "only" 20 trillion dollars in debt, oh well.

[@wanderingsoul4104]

Wow... that's quite incredible. It's not everyday you hear something like that, let alone twice.

[@gawdstockton483]

What is the debt from?

[@harveylin3548]

One is student loan debt which has interest on it still, plus car loan. Another one is credit card loan and car loan. I have about $2700 in total debt right now and I am considering paying them all off for my "cyber Monday" shopping, fuck debts it erodes your freedom.

[@69adambomb69]

Most United state debt is owed to itself so it's not exactly the same.

[@glaxowelcome1907]

@@69adambomb69 What are you talking about? What money does the US owe to itself?

[@Sam-dc9bg]

My parents worked their whole lives on a solid middle class salary, but threw away thousands in credit card fees, and minimum payments. I don't expect much of an inheritance. Once I pay off my college loans I am planning to avoid debt like the plague.

[@rickcoona]

listen to the Unabridged audiobook *"The Richest Man in Babylon"* here on youtube. it gives you Fantastic insight on avoiding debt and building wealth presented in an interesting story format

[@BobFrostV]

Avoid depreciating assets too or you'll lose money as bad or worst than debt.

[@Jimothy-723]

inheratence does not exist. in my opinion, an inheratence is basicaly a hand out. maybe thats because i know for a fact the most i will ever inherit is a pile of trash. a giant mess.

[@s0lid_sno0ks]

You're doing the work our fathers never did. Thank you for bailing them out. You're having more of an effect than I think you realize.

[@Jimothy-723]

strange that the guy who has no kids gives out so much fatherly advice.

[@an-tm3250]

I took a useless major because I don't want to work. Please fund me and pay for my useless degree.

[@VTECsqznN2O]

Thank you. I am completely against student loan forgiveness and was the main reason I could not support Bernie. You signed up for it, now pay it. I'm a millennial and I've practically begged other millennials to stop going to get stupid degrees, remember good degrees that go unfinished is super common as well. especially the stupid people ones trying for really hard, intelligence based professions, these are the kids that 20 years ago couldn't even get into college, but we dumbed the courses down so much, pretty much anyone with $ can get in. I know they will only get so far, fail, then whine about loans because they couldn't finish

[@rayme4raw]

After reading the Book, "Rich Dad, Poor Dad!", I started calling "Home Owners", imagine Aaron saying "Home Owners" with that whine he does when he says, "Teachers". I started calling home owners, "Mortgage Owners" because they don't own the house, the Mortgage owns them. Man, that pisses off all the Debt Slaves. And they don't even really argue, there's nothing to argue, you don't own the house until you made the last payment, case closed.

[@richardasap9772]

Your honestly right Majority of people dont think like that

[@LDT7Y]

It's a very expensive way to rent. If you're lucky, you may get to actually own it for about 10 years when you're old!

[@mcmilk107]

Better to have a mortgage then to rent at least u get to own property at the end

[@mcmilk107]

Tom Guadalupe that’s bs once u eventually payed of a Mortgage u own the property 100% u only have to pay for water,electric etc

[@lanebreaker4099]

If you have to pay taxes, you never own the property. Dare I mention HOA dues or repairs?

[@SB-xj8xj]

Gold is the currency of kings. Silver is the currency of gentleman. Barter is the currency of peasants. Debt is the currency of slaves.

[@johngrant73jg]

I was never told the truth about Debt until I accumulated a substantial amount. I glad I'm in my mid-40 DEBT FREE with a 800+ credit score. DEBT end lives. Debt will humble you fast.

[@andrewcameron4277]

I'm a millennial and I find this offensive Joking it's awesome I'm here for harsh good advice because that's a hard to find

[@israelarechiga6752]

Andrew Cameron it's the truth

[@BoxerDogs]

29:05: When you majored in English in an English speaking country....LOL... Well said.

[@jmt2192]

My best friend from an all-girls’ high school did this. Unfortunate. But she was very much raised to do “what makes you happy.” Incredibly selfish way of thinking instead of the pragmatic question: what is the compromise between reasonable expected salary & useful skill that my community will voluntarily pay me for? She is now overweight and living with her parents.

[@rtlau-mk4di]

@@jmt2192 I don't know why your last sentence made me laugh so hard....

[@MAG-hv9qj]

The borrower is slave to the lender. Only use debt if it will generate income.

[@trophyclub9414]

a dave ramsay listener?

[@romeg4534]

Dave Ramsey is a salesman

[@redbear2269]

I've been an entrepreneur a long time I have gone into debt a few times to buy equipment that would put me in a different market and make me better money and it worked every time. I always work to pay down my debt way faster than the lender expects... oftentimes their head spins I pay things off so fast. We call this hustle where I come from... you either have it or you don't. very hard to teach.

[@user-ys1jr3et9i]

Yes tools

[@ユノが最後]

I am one of the young conservative millennials you talk to. I am a libertarian; I hate large government, and I see my generation is fucked. I am trying to join the military; I realize it's impossible to get a job within the overcrowded IT industry, without a leg up, so I am specializing in Cybersecurity, I got a Associates Degree, and I refuse to go into debt. So I haven't gotten a bs or MS. I am essentially going into Military service because it's the common sense alternative, plus it will help me be more independent. What you are saying is incredibly true.

[@ユノが最後]

What you are saying is true; my dad has taught me minimalism, as well as my mother. I feel lucky to have been brought up as a conservative really, whose parents told to think for himself. I think the liberalism and identity politics where everyone is labeled, every one is special, etc is to blame. Lastly, I feel like the most horrible thing society did to my generation, is giving participation medals. Everyone is a winner. No, everyone is not a winner. Competition is necessary to ensure victory. If you wanna be successful you better be competitive.

[@bornestellar6334]

I'm about $700 in debt atm. I completely agree. I got into debt for stupid, pointless fucking reasons. I've learned to not be a consumerist fuckwit, addicted to getting every new gadget and video game.

[@trophyclub9414]

The max I'd want to pay for a house is $150,000.

[@israelarechiga6752]

Especially when you have no kids

[@delphi-moochymaker62]

@@gabeb4419 LOL Peanuts. Come to Toronto. Average house price? 1 million and climbing. ($750K American) $300,000 is barely a down payment here. You can't buy a 1 bedroom condo for that amount.

[@znrctrnn]

@@delphi-moochymaker62 Well 750k sounds like a great deal here in San Francisco. Too bad it can't be found.

[@delphi-moochymaker62]

@@znrctrnn on the outskirts of the city and surrounding suburban areas you can. not here, even the local suburbs 15 20 30 miles away the price is just as high.

[@jayhillz3705]

Mine was $69,000

[@Norm475]

I graduated high school in 1960 and I had great teachers. I never went to college but I continued to educate myself and I had a very successful career in sales.

[@josephtopete1492]

Only a fool thinks debt is good.

[@dannybans23]

7:55 silver words right there... 23:55 golden words here... "I don't really need six figures" 25:55 and now the diamond "It's all jack sh!t without other people" God bless you, Cappy! Continue doing what you're doing - you are waking people up and making the world a better place!

[@dmnck70]

When I was 18 and just about to graduate high school I wanted to take a year and simply enter the work force working some shitty job. Reason being is that I didn't want to go into massive debt when I didn't even know what was a good idea for a career. I was convinced by people around me that the longer I put off college the less money I would earn, or that it would simply not happen. I had no idea what I wanted to do (and still don't) so I said fuck it I'm good with computers, I'll do computer science or some shit. I dropped out of college to join the military (to save money, serve, and also take advantage of the GI bill) but that didn't work out so well. Now I'm fucked with 12k in loans, no degree, and not much job experience at 24. These videos have helped me to regain the thought process I once had, I appreciate them being displayed here for free. I just wish I knew a good path from here, maybe if I watch enough of these I'll get an idea.

[@b-41subject57]

High Priest of Keku hey bro you can still use your gi Bill. Just pick a better major that you think you'll do better in

[@X8X8X6X4X]

You're 28 now, how's it going?

[@Jay15199]

Maaannn. I unfortunately have quite a bit of credit card debt and it sucks. I was dumb in my 20s, plain and simple. Now, going back to school for STEM, fully paid for. Not making those dumb mistakes again.

[@tomgrothe]

Fantastic lecture on debt avoidance. Every high school and university student needs to see this.

[@Putseller100]

I have to say, in my opinion debt is not the worst thing, debt can be paid off. I think there are 2 things MUCH more oppressive, they are property tax and health insurance. Talk about being a slave to your career, then pay off that debt in mortgage form but you must keep working to pay those property taxes ( forever I may add). Many popular places in the country can run easily 4,000 a year for a simply home, and that 4,000 is net income that already has been taxed. So at least 5,500 would have to be earned just for the privilege of living in the home you supposedly own. (#1 plank of the communist manifesto) Now to medical insurance, are most people not chained to their jobs like slaves to have affordable insurance? Like I said before a debt can be paid, but insurance is needed forever (like property tax). In all seriousness even without debt these two expensive would still have to be paid and basically reduce people to a state of slavery.

[@rickcoona]

the way around property taxes is to set up a trust that covers basic household experiences and taxes a simple investment account should cover that easily enough that way the house costs you Nothing to live in it.

[@henryford2950]

All of which are intentional policies to keep people under control.

[@jaymondy]

Anytime you ever 'borrow' money to someone, immediately consider it a gift. Dont feel bad saying no, because they will evade you either way. Let them leave you alone and do you a favor.

[@deepspacecobra4276]

Aaron what you're describing is the definition of narcissism. One's who lack inner agency so they must project a false image of themselves upon the world. This false projection is the only way for them to cope with the reality that they hate themselves or just have nothing genuine going on inside themselves. Interesting video!

[@dannybans23]

you must have taken on debt to cover a BS arts degree.

[@MM-tt3np]

$250k was won on lottery, by two persons. The stupid one got many new friends. But as the money they are now long gone. He blew it all on no tangible stuff which could be sold off later. The smart one invested in 3 appartments, which he rented out. Today he still gets nice money each month and the apparments has risen 3 times in value. Money comming in is higher than going out so he "stacks" some for a rainy day.

[@derekclawson5707]

31 years old millennial. Never have been in debt in my entire life, investing in coin collection, coin roll hunting and eventually planning on being a coin dealer. I have lived minimalist for years.

[@johnazhderian5734]

A house or a car are not investments they are a sink of funds.

[@SoakerCity]

A house has been among the best investments, in Canada, for decades. Its just ending now.

[@Norm475]

That is why companies love married men with children working for them. This was many years ago when I was working and I overheard a couple of managers talking about one of our young reps. The rep just found out he knocked up his girlfriend and was planning on getting married. One manager said to the other as they were laughing about this young guy's future, "NOW WE HAVE HIM BY THE BALLS."

[@MichielVanKets]

it depends ... about 20 years ago I took a gamble on a big house in the worst part of town, everybody was worried and tried to change my mind, but I kept saying; in 5 years I'll sell it at the double of the price and leave for Asia so, ok, it actually took me 6 years, but I also sold it for a bit more than double and I did leave cold and rainy Belgium for Asia ... I now live on a tropical island in a nice pool villa ... there's good debt and bad debt

[@jayhillz3705]

Michiel Van Kets nice made up story there...

[@billpearce5358]

My favorite are the people that finance a burial plot.

[@Febeleh]

Just cremate that mortal coil. Put it in a shed and forget it. The memory is all that remains

[@Zang420_wst]

Sometimes you can find an old beater car that's nicer on the inside and just as quick as a 2016 model. So much of this new stuff is cheap and it's not always better than the old stuff. I miss back when ipods were bulletproof and had scroll wheels. Now apple products require adaptors for headphone jacks and usb ports LOL. It's going backwards!

[@johnwayne3554]

So true. My Accord is 21 years old. I plan on retiring with that same car. I have had for 18 years.

[@game5loth996]

Still have iPad Classic from over 10 years ago and it has more storage than my phone and no shitty touch screen either.

[@lsnows]

Gold is the money of kings, silver is the money of nobles. Paper is the money of commoners, barter is the money of peasants and debt is the money of slaves!

[@rhythmandacoustics]

As an investor in the banks, thank you mindless consumers, now go back to work and get my money back!

[@megacide84]

Regarding those students who pissed away their life/money on worthless degrees.All I can say is. Watch... As employers slowly impose stricter hiring standards. Corporate America was never fooled by those getting degrees or multiple degrees. They are aware of how saturated the job market is with those college graduates. I can see a time coming when college diplomas will be combed through thoroughly just like credit histories. Where many degrees in various questionable subjects will be officially considered non-viable(aka worthless) I also believe within a short period of time. With the exception of engineering/medical jobs. Employers will eventually drop college as a requirement for many jobs. Instead the emphasis will focus back strictly to on the job training, your work history and years of stable working experience. Also I know I've thrown this out before but once again. If you really feel the need for a diploma, just buy one off the internet...Save yourself years of life and money.

[@LDT7Y]

My family's company state on any job adverts that 'a degree is not required. We will test in-house.' If you got a full degree while working full time, then that's a cool story. But otherwise they don't give a damn, as the roles are entry level and anyone with common sense and logic will be able to learn on the job. Companies need to start explicitly stating 'degree not required' on low level job ads. Kids shouldn't have to get into $30k debt just to get into the workforce!

[@ginkopaul]

Paid for school before graduating with Communications degree. Paid off student loan for attempt at social working degree. Paying off house mortage.

[@personalfreedom7843]

Only mortage.

[@Imakebeatsss]

being in debt sucks even know your not going to pay it its still over my head when i want to advance in life

[@bingbongabinga2954]

I know a guy who everything in his house he got cause somebody paid him to haul it off.

[@slingo30]

My uncle will buy a car or boat or something along those lines from time to time. It's not that he can't buy it using cash, he's just maintaining stellar credit. Not only that, but he also almost never buys a brand new car because they lose too much value as soon as you drive them off the lot, he buys lease vehicles that have been certified and have a warranty.

[@scottjoseph9578]

I was $80k in debt after medical residency. In 18 months of practice, paid off. Now I can pay off my mortgage at any time,but I make more than 4% on my investments. But my mortgage is my only debt---$260k, as opposed to 1.1 million in investments. My taxes are paid off in full for 2021, but I keep $70k in cash, or more, at all times. Cars are paid off. I make over $350k a year. I use credit cards to get points, etc. Paid off week to week. Wife's an accountant, taught me how to invest. If my daughter gets a horse, she rides it year round. (Live in South Rural Texas) Plan on downsizing in mid 60s, as we will no longer need the house we have. Or pay it off and not care. I work for a State Hospital; I have no need to impress...

[@workingshlub8861]

never borrow to get anything that you know goes down in value fast...car ,boat etc...try to stay away from credit cards.

[@harveylin3548]

Buying a new car is one of the dumbest thing one can do in life.

[@TheyRiseBand]

Credit cards, especially rewards cards, are wonderful instruments, if used responsibly. I’m able to fly home once a year on the credit card company’s dime. Of course, I pay the balance off before interest is accrued.

[@rickcoona]

@@TheyRiseBand if you REALLY want to piss off the CC company,over pay by $10-20 That throws on a POSITIVE BALANCE and the can't charge you interest on i! it drives them bonkers

[@TheyRiseBand]

Paying cash for cars, when debt has been so cheap over the last decade, is foolish. Finance the car for 1%, stick the cash into an index fund and earn an average of 6% YoY.

[@goldgoblin530]

Judging the mirror and your credit score honestly is the secret to freedom from debt

[@hardeez1]

Published on Nov 8, 2016

[@Blackstock123]

listening to this, your making me feel good about myself haha I'm not rich but I live within my means, I have no debt, I have traveled the world payed off my student loan and am now working towards starting my own business. Sure I dont have a mansion or flash car but I own what I have and follow my life purpose, cheers for the vid!!...edit by the way I am surrounded by the people your talking about, and yeah they still try and look down on me lol

[@SoakerCity]

Hows the ass situation, though?

[@GhostlyNomad130]

My mom would literally wait 7 years for the debt to fall off in collections if she felt she shouldn't have to pay. She racked up 5000 dollars In child support while also getting the account closed so she didn't have to pay anything. Lived off food stamps my entire life until last year when I got a job.

[@cafeta]

19:13 I had seen that example in real life... She choose him because he was a good provider but not because she loved him!

[@ryanhumor]

Ive had multiple friends justify $40K+ car loans with the “I need a safe vehicle.... what if it breaks down” reasoning..... smh. It’s perplexing.

[@venomlink2033]

The only reason anyone should take any debt is either because the thing they’re buying with the loan makes significantly more consistent revenue than the interest on the loan, or if a mortgage is more advantageous than buying a home for tax reasons. The reality is that this is less than 1% of most loans taken out. If I cut everyone’s credit card in half, I would hurt anyone.

[@josedubois2295]

Ignorance is not a very good excuse for taking out debt. My parents thankfully pushed me towards an engineering degree. My parents helped me pay for college but I also worked during college and became much more economically conservative as a result. They wanted to push me to apply for medical school right after graduation but I wanted to work and create at least a fairly positive net worth after college. I'm still thinking of medical school but thankfully will not have to worry much about loans. I think Aaron is unapologetically right about so many points here. I've seen this self rightious attitude even as an engineering student. It makes me uncertain about others futures but more certain in my own.

[@trophyclub9414]

I would be fine with a mortgage, but on a home that's reasonable within my budget. For example, as a single man, I'll only need a one bedroom condo/apartment, and here in Utah, I could get by on an apartment around $100,000-$150,000, which is fairly inexpensive for some of the housing I've seen. Get a 15 year fix, and pay it off in 10 years. I don't have the cash to pay it off, but it can be a good "investment," (Hedge against inflation), if you can pay it off in a reasonable time frame. Renting is a way to go, but not after 30+ years. STEM degree, 1 bedroom apartment/condo, and save for retirement and you'll be ok.

[@blueseanomad7435]

My credit card only went up to 2,000 and I cut it up, paid it off and never did that again. I enjoy knowing that when my clients pay me, I pay rent, electric and gas and that's it, the rest of the money is mine.

[@Andreas4696]

You kind of remind me of Dave Ramsey. Except even less politically correct. Great show, man. Keep it up.

[@Thestr8noodle]

This is the reason why i chose NOT to go to college, because of reasons like these. No critical thinking skills, really expensive tuition and textbooks. All my life i never wanted to touch debt because it enslave me for the length of it. Id rather teach myself and not rely on someone else to for it for me because there will be a time where ill have to learn it. My thing is paying for things with cash, you pay for your food, your clothes and other small stuff in full, so why not pay for a vehicle in full. I don't need a very expensive vehicle, a cheap vehicle does the exact same thing as a more expensive vehicle. Don't enslave yourself to debt!

[@tyko4859]

when ever is debt a good thing?..

[@kingrohan11]

depends on the situation honestly.. However most people that Leverage debt don't expect to profit from it .. IE buying a house, new Car, putting kid through college ect

[@anaximander4589]

it's simple: when you have debt, you're forced to find a way to pay for it. It basically creates urgency and drive.

[@dantan1249]

if profitable, investments that yield return quickly could be a good cause for date. in hindsight at least

[@aaronniehaus2224]

Starvin_Marv When the US does it

[@ghollisjr]

Even when ROI > I, debt itself is suboptimal, as some of the returns go to someone whose only job was having money, which is an artificial resource and is the amalgamation of the values of your society, which are so brain dead that Aaron makes these videos.

[@mavamQ]

Having debt only means, you spend all the money you earn on consumer items, minus the cost of the interest paid on the debt. How does that make life better?

[@brainsmasher66]

Not all baby boomers have nothing to leave to their kids. Some of us don't have kids BWAHAHA!

[@dancarlson2717]

People really have to put thought into purchasing 'stuff'. I went looking at camper trailers last week. 20 year loans!!!! I walked away and did the math 25 grand for the trailer 51 grand in total payback!!! $26,000 in interest, that is insane!!! And of course financing prices are subject to change without notice, as the interest rates climb so will the payments, I will just make one this spring. As far as parents go, my father went to the grave without a cent to his name 75 years with nothing to show for it. Don't take me wrong, I can earn anything I want.

[@insomniacresurrected1000]

I do not have any debts, last time I had a car loan but I paid that off. The life is beautiful when you can enjoy the money you have.

[@jaguppal187]

very very few people exist who place relationships above individual materialistic goals etc in 2016 especially in western countries.

[@brandensalah9756]

pretty much every "relationship" I have been in with someone else be it a romantic one or just a long friendship ended up with them trying to stab me in the back, steal my shit, blackmail, etc... no sense in placing relationships with others above my own goals when most others around me are a bunch of sociopathic freaks.

[@jaguppal187]

exactly! always put yourself first. Make yourself better, stronger, faster! then think about building bridges.

[@bgates275]

The only problem is that being locked into debt, such as a mortgage, is only a bad thing, if inflation is low, which it traditionally has been in the United States and Canada. However, I'm sure in some cases, having to pay interest may be worth it if it can beat inflation over the long term. I'm sure, in some cases it does. You never know when it's going to happen either. I mean, at one point, Venezuela had an okay economy, and now people literally need to take backpacks of money to pay for groceries.

[@workingshlub8861]

i have a friend who has a bunch of investment properties all with good cash flow... he still rents an apartment like anyone else and drives a older car.. never know to look at him he is wealthy.

[@Ken9284]

It’s so refreshing to know that someone else thinks the way I do

[@drmodestoesq]

What's that cough? Consumption? Hopefully, not conspicuous consumption. Get it? Conspicuous consumption.

[@TheyRiseBand]

drmodestoesq My man needs cough drops.

[@colinrussell2017]

I have lived and worked in downtown Vancouver and there are a TONS of luxury cars cruising around. When I see one, I think "that guy's REALLY insecure!" Poor guy!

[@derekclawson5707]

I would rather stock invest in something I truly love than get into college debt. College is bullshit nowadays, useless degrees and or too expensive as it is. I admittedly used to chase skirts and had my party years but now I am on the right track and already have decided what I want to do for a living.

[@MgtowRubicon]

"The average IQ is 100, which means that half of the people are dumber than that." -- George Carlin

[@runteamneal]

I was a registered Dem and because of Aaron's school of higher learning, I voted for Donald Trump! Last night felt like a tipping point!

[@drmodestoesq]

Yep. As Donald Trump says, "I'm the king of debt."

[@tomcroke211]

drmodestoesq You borrow $200,000 from the bank its your problem. You borrow $200 million it's the bank's problem.

[@AmericanCheeselouise]

How unfortunate.

[@andrewbrenick5311]

Thank you for this video. It's easy to feel alone when all your friends are taking out loans to look like they can afford stupid shit.

[@Kimeikus]

“There is no one more hopelessly enslaved than the one who thinks he’s free.”

[@XFitness4LifeX]

Good rule of thumb when making decisions for luxury products: If you cant buy 10 without taking a hit financially, just dont buy. And if you have less than 10k to your name the last thing you want to worry about is luxury.

[@XFitness4LifeX]

That and never paying more than 30% of what you make post tax for rent will take you a long way. If you have a wife or gf you have to train her to think that way too. For women it's especially hard because they LOVE to blow insane amounts of money on retarded shit without any thought for the future. Strippers who make 15k per night end up broke at 30- How is that even possible? Most men would be retired in a year or two with that kind of income! I ll tell you why: Women are so easy to sell to you won't believe me. Chicks have the impulse control of a fruit fly and will buy expensive shit just because "they feel good". That's why you can make 250k annually and still be broke as a joke becasue wifey needs to have an appartment in the center, a Prada bag every 6 weeks and her spa weekends at the Hilton Resort. ONLY THEN will she be happy. I say don't ever let it go that far. Training a girlfriend is kind of like training a dog. Split until you marry, talk about bimbos blowing money on stupid things in a mocking way, and teach her that buying few nice things will make her feel way better. It takes time and patience but it can be done. Godspeed fellas

[@harveylin3548]

I am reading The art of the deal, and Trump said that when he first broke the upper society ranks in New York as a young man in the 60s, all he learn was that the higher you go, the more importance people put into appearances, you can sell something that is 80% appearance and 20% substance and it will be a hit.

[@dmandanku]

We need to move into a school district where the schools are good. LMAO!!

[@scottjoseph9578]

Having no serious debt means that you can buy steak dinners when you want to.

[@jaguppal187]

some good points here however i do agree insecurity/anxiety drives people to consume although being absolutely driven towards "social" relationships etc and then just living a normal frugal life where you obtain assets/savings etc will lead to envy and a loss of relationships also. So 2 points 1. everyone wants money 2. you need a balance to life you can't ignore materialism and you can't ignore relationships and human values.

[@CharlesFGray]

Good points. The same things go on in Canada. +AaronClarey Your impressions are hilarious. It would be funny to see one video with all of your impressions from your various videos.

[@user-ys1jr3et9i]

Me. Simple lived below my means 40yrs just retired with a big stack due to positive Christian frugality,,,zero bad depth across the board play 4 dollars on lottery a month,,,keep all spending in check ,,, im winning and it feels great!!!

[@muditjain7667]

I always wondered how the credit card business worked. I have never paid $1 in interests to credit cards, and used to think that everyone else pays it in full too. Now I know.

[@jfojw21dfs9]

32:57 had the best laugh in my entire life, go cappy!

[@DonnieDarko1]

JjjJ Hhhh PERFECT!!!! THAT middle finger was the best part of the video.

[@rvvirt]

That's was the realest part of the video!!!!!

[@Literallyarealhuman]

There are so many ways to not go into debt so many you have to be walking through school with your eyes closed to have debt that you cannot deal with

[@persianking1374]

Fucking love you cappy the examples and impersonations hahaha

[@bishop8000]

So much truth in this video. Hard lessons for many to learn.

[@marrymackessyy2822]

Debt is a nightmare, no other way to say it! Truth 1000%.

[@NJGuy1973]

In the 2000s there were all these home loans given to people who shouldn't have gotten them. As it became easier to buy a house, the demand rose, thus the prices rose. And then the prices hit a point where people couldn't afford it, and the crash happened. And why, pray tell, was it so easy to get house loans in the 2000s? Because banks like to acquire other banks. And the more banks pledged in loans, the easier the government made it for them to acquire. Read "The Lost Bank" by Kirsten Grind. It's about how Washington Mutual rose and fell.

[@louisfrancois27]

This video does raises a lot of good points. But I definitely disagree with one big point. No matter what your college major is a college education can still be worth the student loan debt depending on how you do it. For example if you're looking to become a police officer, firefighter, military officer, Dr., physical therapist, optometrist, pharmacist, or work in a lot of different industry's. your major plays little importance but you should use that time wisely, building connections and taking the right course work. I know plenty of police officers with art degree that make 6 figures and are able to pay off there college debt. But I do agree with the premise that the decision to go into debt for any career should be thought out wisely and a plan of action should be made before undertaking such steps and eventually paying back those loans

[@KnowledgeSeeker78491]

I'm on the Dave Ramsey plan meaning that I'm working my ass off for the max of 7years to pay my car, student loans and car off...when it's time to pay my home off I'll put around 20% of my income into my TSP account

[@Visstnok]

Spot on that what matters in life is people, not money. There are a few important things that money can buy, but beyond that it's so pointless. Now that I've grown up, I'm astounded by how my boomer parents kept buying cars, cottages and consumer electronics before me, their kid, had a house of his own. Know this sounds entitled, but I could never in hell see myself not buying a house for a child of mine if I had the money, and tell them to go be a slave to the bank for decades upon decades. Isn't the most important thing the time we have to spend with each other?

[@Snipersounds]

Thanks Aaron! GREAT video!

[@peterlibero5255]

How do you feel about people that have to file bankruptcy due to medical bills? How do you feel about corporate welfare? I agree materialism sucks but we do live in a capitalist society...

[@stevenwalters453]

33:20 "see that right there" lol. Great video Cappy!! Hope you feel better Clarey!!!

[@cillbosby6326]

I’m working for Uber on the side so that I can get a free degree from ASU online, gonna cheat the system. I’m joining IBEW to become an electrician, I live in the northeast, will probably move to Boston eventually and do high value residential work, maybe start shower remodeling business.

[@Njoydancing]

DEBT IS DUMB!

[@broncochamo]

The word you were looking for is worth-less, when you say it calmly to their faces. It brings a lot into prescective

[@arthurmorganclips6706]

There's always going to be a bigger house, what really matters is the people that love you dearly.

[@9525joe]

“Love yourz” -J. Cole

[@ericeyerman6285]

The truth is the whole system is based on being debt. I have very little on credit cards and was thinking of getting a house loan but because I had no big loans I was paying on it. So I had no credit history. I also find that the government will bale out anyone who make bad choose but those who bad chooses were because of family. Part of the problem is the ideal that we need college were going to get a trade would be better. I owned my last car from the day I got it. Loved that car but because I made a mistake and tried to hold on to it to long I have a car payment. Not cool because I didn't want one but it will help my credit. That how the rope you in.

[@MisterSal9895]

So I'm paying my debt. Increasing my credit score as I pay it down. Then a credit card company sends me a pre-approve credit card. I thought I had a chance, but they reject me!!! A hard inquiry that wasn't suppose to be!

[@Strettger]

You know, that bit about the engineer and the liberal arts girl hit pretty close to home for me. Going to need to sleep on that once... EDIT : Only at the point where the girls are suddenly a lot more interested in the engineer with a good stable paycheck and not blowing it all at once.

[@LDT7Y]

Discuss finances with your SOs before getting serious with them. If they are clued up on money then they won't have any issue sharing their debt levels (if any), net worth, etc. If you're close enough to share body fluids and housing arrangements, then you're close enough to share financial details!

[@ChristnThms]

Absolutely savage, and right on the mark. Bullseye.

[@MrChess187]

They will admit that YOLO. You want to be the most fit, richest person in the cemetery, cool. 100 years, hell in 20 no one will care. Live your life.

[@dwightschrute7342]

This video is 7 years old and still rings true 😂

[@rickcoona]

i have NEVER understood the concept that Debt is a "good thing" i see it as a nessarry evil at best, something to pay off and get out from under as quickly as possable credit cards are nothing but Debt SLAVERY cards

[@noobinator9854]

Yup, in some cases paying off credit card debt early and too soon can also have a negative effect on credit scores. Credit card companies, like loan sharks, want you hooked on debt their way to have a credit score that they want to categorize as good so that you can get into more debt and the cycle continues

[@rickcoona]

@@noobinator9854 paying off your outstanding debts improves your score prompt payments establishing a pattern of repayment but keeping a negative balance only drains your reserves.and enslaves your mind and Soul