I’m $127,000 in Credit Card Debt

[@joycewright5386]

I always feel so much better about myself when I listen to these calls.

[@musicman7297]

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.

[@kbanghart]

​@@musicman7297and?

[@justinebailey5333]

Right

[@LastMinuteGuess]

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.

[@cgasucks]

I agree. It is comedic and educational to us.

[@Michael-kv5ff]

2:22 how can you even enjoy a vacation knowing your 127k in credit card debt

[@goforbroke2]

Exactly!

[@bhnurse16]

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!

[@sken17]

Delusion and living in denial. Not facing their reality, kicking the can down the road

[@dlyras]

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.

[@wacalla26]

I wish i had 13000.00 a month coming in.... I only bring in a third of that and retired early !!!!! 😁

[@rickenbacker472]

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.

[@boston312]

yup same with the fancy weddings, kids, and the houses. They are all chasing the American Dream that so few can afford nowadays

[@talyahr3302]

Same. Makes me feel better about driving around my anesthetically unpleasant car. At least I have no payments on it.

[@willelliott5052]

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.

[@umair8641]

Well said

[@stuffykong]

Same. It's like preventative therapy for me.

[@MindsetMastery148]

Making over 150k and only has $1k in the bank is insane.

[@sambulthuis287]

They make 13,000 A MONTH, only $1k in the bank and still have this much debt?? Something ain’t adding up.

[@musicman7297]

Keeping up with the Jones is very expensive. LOL 😂

[@ryanlight1013]

She probably goes shopping everyday, buying junk

[@andrew8168]

Addiction: gambling, shopping, d-rugs, booze, whatever.

[@justinebailey5333]

Exactly

[@daleweiss9507]

I couldn't even begin to spend that much.

[@azngettoone]

I just paid my last payment on my student loans. I am now debt free.

[@spankynater4242]

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.

[@anthonywilliams9415]

Congratulations

[@simransidhu617]

Awesome!

[@fergusonto-2032]

Congratulations

[@lisadanielleclark]

Congratulation!!

[@drn13355]

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.

[@ghostbird92]

They're never retiring. Some people just can't ever think ahead.

[@emoney1231]

Most people think reitrement is an age, not a financial situation.

[@waynelewis9110]

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.

[@jasonleatherwood2172]

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

[@mikezerker6925]

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!

[@AlexPrime86]

I just can't wrap my head around having over $100,000 in credit card debt.... that's insane

[@pamsmith1665]

$127K

[@TheHazards2011]

And then buying an $80k car in 2023, ridiculous

[@cstuartdc]

They were living large.

[@AlexT2048]

do you bring in 13k or ever wish to achieve that income?

[@1Skeptik1]

Not insane, just gross stupidity.

[@screwdriver_bandit]

The absolute irresponsibility of this situation is astounding.

[@dslunsford1]

She doesn’t deserve to retire. She lived her best life in her 50s thinking tomorrow would never come.

[@Joe-ku1ko]

@@dslunsford1 She lived her best life from 18 to 59 thinking tomorrow would never come. Absolutely no long-term planning skills whatsoever.

[@knrdvmmlbkkn]

​@@Joe-ku1ko"She lived her (...) planning skills whatsoever." Why not 0-59?

[@econdude3811]

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.

[@trishsnoots3841]

​@@econdude3811right?? Because that would take discipline!! The missing element in their mess.

[@Jayyyboyle1]

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.

[@PublicNuisance2K24]

"you're broke!!"

[@thirdcoast-nx7jx]

This is a hard, hard lesson to learn at 59.

[@mdaniels6311]

I learnt my lesson pretty young.. thank god!

[@tylersanders2388]

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.

[@scotttracy9333]

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

[@franziskani]

@@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.

[@BrianW211]

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.

[@maryangelica5319]

Nah, I feel bad for them because they are slaves... slaves to their impulses.

[@jacquelineglitter4328]

The ones I know but designer clothes, purses and shoes. I don't feel sorry for them. I was always frugal bought used cars.

[@CJ2023Incognito]

If she went on Caleb Hammer’s show, he would have a heart attack. lol

[@damemethief]

The entire show would be in a hire octave haha

[@Discovery123.]

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.

[@ciprianmaxim7100]

Correct.

[@floresnashvilledrummer]

"We wanna retire in five years." 😂😂😂 It's this lifestyle right here why you see a 90 year old working at the dollar store.

[@turtleanton6539]

Inde3d

[@curiouscat3384]

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.

[@littlesongbird1]

@@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.

[@stitcher4729]

Some just like to work a bit to get out on a regular schedule, feel productive.

[@willmahan4161]

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

[@robertsquared2916]

They are paying over $1,200 in INTEREST a Month and this woman thinks she’s retiring in 5 years 🤦🏻‍♂️

[@vickieclark5931]

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.

[@asavannah7439]

😱😱😱

[@angel-ij4xv]

this is why i stay away from credit cards

[@keepingitreal618]

​@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.

[@blackmantravel6954]

More then 1200$

[@olaabi2229]

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-td4hi]

Incredible, congrats that’s awesome!!

[@genxx2724]

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.

[@AverageJoeDividends]

28k for a Civic??? That had better be an Si! I paid 21k for my Si in 2013.

[@simpleexpedition]

@@eplugplay8409hahahaha thats good

[@adamseidel9780]

⁠​⁠​⁠@@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.

[@darex0827]

These people were living a 2x income lifestyle for years and reality has finally kicked in. Ouch.

[@turtleanton6539]

Ouch😅

[@chaz3279]

Financial Darwinism

[@koaltech]

They were living a 3x income lifestyle...

[@blackworldtraveler3711]

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.

[@macpduff2119]

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.

[@tiffanyhwang1738]

Only $150k... 😂😂

[@Pinkgirlyyyy]

I’m so happy you were able to change before it was too late

[@leprechaun3677]

Debt is not something to fear; it’s how you use it.

[@mariannuckle4737]

⁠@@leprechaun367799.9% of the people don’t know how to use it!!

[@spencermcleod3752]

$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_Supreme]

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

[@peartfaldo]

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_in]

But I need the shiny thing and I need it now!

[@ES92-]

I'm stressed out when i owe $500

[@justinebailey5333]

Right

[@Carmen0777]

I’m stressed out even when I owe $5.00, I cannot sleep knowing I owe someone or credit card.

[@LetsGo6009]

Same

[@snowpz]

@@Carmen0777 lol $5.00 that's extreme. you'd barely pay any interest on that and can pay it off in a heartbeat lmao...

[@littlesongbird1]

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).

[@dustyrhodes2717]

Retire in 5 yrs?!? These people are fools.

[@patriciabrant8037]

Why is it these brain dead people make really good money?

[@spankynater4242]

She said at the end of the video she knew that was not possible. Watch all the way through.

[@IMBLESSED-oe6dl]

W that much debt I don't see it happening. Only works if they were paying bills w one n saving one full salary.

[@buffydog21]

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-rk8wq]

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 😮

[@snowpz]

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

[@blackworldtraveler3711]

It is a lot until it’s zero.

[@littlesongbird1]

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-ij4xv]

this is why i stay away from credit cards

[@bowebusi]

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.

[@madikoko]

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

[@RJ-cv2uw]

Saving this video to replay whenever I'm having a bad day

[@gregzz]

Dave "Live within your means." Americans - "but I deserve everything"

[@justinebailey5333]

Exactly

[@orichinal.]

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-qe7gr]

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.

[@AnthonyMcNeil]

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.

[@pisicacutecat4869]

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.

[@betl5982]

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.

[@knrdvmmlbkkn]

"Put 62 degrees heat and 85 degrees cooling." Preferably not in Celsius.

[@kpolkoski7399]

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.

[@masonjensen_]

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.

[@gmarie3053]

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!

[@robertbokke]

Ya'll already ahead of the game young man. 👌

[@jkstudent222]

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_]

@@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 🙏

[@cheenoulee7455]

You are lucky to have found this at 16. Keep your eyes open and be smart. Keep it up!

[@Happey67]

Lord! If I put $200 on my credit card I get stressed.

[@RCGuitar982]

you don't need the stress of having a credit card if all you're putting on it is $200

[@davidfreeman4625]

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.

[@andyvu8513]

It’s beyond a budget issue. It’s behavioral issue and they need serious counseling to help them with decision making.

[@ohreally8259]

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

[@nyht727]

Selling the home is a dumb move. She lives in FL. She needs to file a BK.

[@ohreally8259]

@@nyht727 why selling the home is a bad idea?

[@BrianW211]

@paulmerriwether6207 With an income of $13K/month and total consumer debt payments of $4700/month, they won't qualify for bankruptcy.

[@nyht727]

@@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?

[@nyht727]

@@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! :)

[@garystarkey6255]

$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.

[@curiouscat3384]

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!

[@bjkarana]

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.

[@markellinghaus5925]

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

[@unknownname3189]

Yep, she knows he probably has a good job and knows he won't leave her out to dry.

[@rudyardganuelas6254]

YOU are the retirement account

[@bjkarana]

@@rudyardganuelas6254 Yep. Seems that way.

[@HairyTornado]

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.

[@sopapilla9512]

Yeah shifting as much as you can from 20% interest is going to help you with that snowball

[@jeanettebenson7173]

Good catch Hairy Tornado. I love your content on KZbin.

[@joycewright5386]

She tried and didn’t get approved. They are telling her not to use her credit cards because interest is too high.

[@wojciechorama]

TrueTrue... Call her back boyz and fix what you said.

[@briankowald6465]

Dave gives credit union advice

[@Carlostheyankeefan]

A lot of times you guys say to do private sale which makes sense, but most people are not buying 30k+ vehicles privately

[@spankynater4242]

I say she take the dealer's offer.

[@MitchGrooms]

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.

[@macpduff2119]

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.

[@blackworldtraveler3711]

Not needed. They put down themselves.

[@MitchGrooms]

great,,@@macpduff2119

[@keepingitreal618]

Shes got children who will do exactly the same. 0 sympathy

[@f.w.1318]

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.

[@towel-ie7554]

These are the people who you see and think "How do they afford so much?" They don't.

[@daelkolwitz3509]

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.

[@AbbyC543]

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.

[@boston312]

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.

[@blackworldtraveler3711]

Yup. Majority keep ignoring this blaming everyone else but themselves.

[@greenthunder1000]

You get it

[@adamseidel9780]

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.

[@blackworldtraveler3711]

@@adamseidel9780 Yeah people have gone from bunk beds to one bedroom/bath per child in the past 20 years.

[@joycemckenzie5723]

I love it, who makes these BAD CORPORATIONS so Rich,,,,, WE DOOOOO!!!

[@jimeagle5509]

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

[@spencerosei2616]

I didnt even know 127k on a credit card was even possible 😯

[@genxx2724]

I’m sure it’s multiple cards.

[@spencerosei2616]

@@genxx2724 It must be , I have a 50k limit on my Mastercard but 127k is wild so must be across several cards.

[@khmanuel]

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.

[@Polar-nv1oy]

She gave us a lesson so we don't have to learn the hard way😢 at least we can thank her.

[@MrBrewman95]

💯

[@musicman7297]

LOL 😂, how on earth do you get over 100, 000 dollars in credit card debt? LOL 😂, let's buy a car that cost over 80 thousand dollars when we are already over 400 thousand in debt. Many people never think about what happens if the economy drops like a rock which it has been doing for almost 4 years. If the last 2 or 3 years didn't tell you to get your act together.... nothing will.

[@musicman7297]

@@SteveC484 If you only had a brain.

[@carpediem6431]

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) 😂

[@jimmymcgill6778]

It may help.

[@brianbest6097]

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.

[@darkbee2359]

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

[@macpduff2119]

Yes, they had a huge line of credit. Possibly multiple credit cards @@darkbee2359

[@jordandowland7256]

@@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.

[@helenhilton2158]

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_]

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.

[@andresortiz560]

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.

[@ShonTolliverMusic]

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.

[@mastafull]

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."

[@mikezerker6925]

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.

[@mikezerker6925]

@@mastafull most of America is living like this and consider it normal.

[@msk3905]

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.

[@7CardFlushPoker]

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.

[@AnthonyMcNeil]

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.

[@davidsensing2664]

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.

[@genxx2724]

It’s not really suffering. They already had more than their share of enjoyment.

[@davidsensing2664]

@@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.

[@BrianW211]

It didn't hurt bad enough years ago.

[@davidsensing2664]

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

[@adamseidel9780]

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.

[@chaz3279]

“We’re trying to retire in 5 years” 😂😂😂😂😂

[@tammyturowski6703]

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.

[@chaz3279]

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.

[@411sponge72]

🤡🤡🤡🤣🤣🤣

[@eaststreetvariety5214]

@@tammyturowski6703 You know thats not going to happen.

[@DaveCompton5150]

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.

[@djpuplex]

Bingo this is about the time corporate American looks at these people as healthcare cost liabilities.

[@turtleanton6539]

Ouch

[@irishchocolate3872]

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.

[@mxerb5912]

Why? They bought an 80k dollar car.

[@rxdawg75]

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.

[@breezyveezy1]

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.

[@snowpz]

Lifestyle creep is a reaaal thing.

[@genxx2724]

People make choices. Those of us who live frugally and invest deserve to enjoy a carefree retirement.

[@genxx2724]

People make choices. Those of us who live frugally and invest deserve to enjoy a carefree retirement.

[@snowpz]

Everybody deserves that. @@genxx2724

[@cheryla.8583]

We can learn from others.. praying for her!!!

[@macpduff2119]

Yes, let's pray for this couple. She is beyond the point of rebuke or criticism

[@JayP-kd5rc]

Me too. So sad.

[@OurPhantasticLife]

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

[@ghostbird92]

I know. It happens twice too! I had to replay the video to make sure it wasn't for me.

[@AshLeynn9]

I looked at my computer thinking someone sent me a message. Lol

[@jacqueline8566]

😂

[@darkbee2359]

I had to replay the video to make sure I wasn't hallucinating.

[@worldnomad2301]

John does not belong on this show, he’s so ridiculous from his awful bullet wound analogy to him telling her to go find a job. John, she has a job that pays good! What are you talking about?

[@macpduff2119]

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

[@amireallythatgrumpy6508]

It's only trading one set of problems for another.

[@vickieclark5931]

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.

[@johnlanier3616]

They do not qualify for bankruptcy

[@adamseidel9780]

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.

[@dreke1020]

Dave would’ve gave better advice than these two bozos

[@carterwgtx]

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.

[@midnightblue117]

I agree

[@amendaalmonte2236]

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.

[@captainviper3888]

Bankruptcy you never learn. Root cause is yourself. Time to pay stupid tax and learn something before your right back into it

[@R4d1c4lEd]

They are making 13k per month. They wont let them bankrupt, will they?

[@R4d1c4lEd]

@@lagarde2011 Or as others suggested they have addiction problems: Shopping, alcohol and drugs etc ..

[@j3rkch1ck3n]

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.

[@turtleanton6539]

Indeed they are

[@kensmart1976]

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.

[@mligon]

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.

[@smileychess]

That’s their monthly income.

[@eclipse.5295]

I can’t even imagine making that much monthly 😳

[@logansgamingworld8137]

​@@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.

[@robertjetski8736]

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)

[@froniccruxis1049]

they have other consumer debt. 127k was just the credit cards

[@elpeke6196]

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.MD7]

I feel you; I'm literally thinking about every damn purchases I make because it's so expensive now

[@joseperez2003]

Same here

[@CynthiaIvers]

Hard to sell a vehicle via private sale when you don't have the title to it.

[@monroe7403]

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.

[@macpduff2119]

Excellent point. They also can't stage and sell their house

[@iloveamerica3917]

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

[@deadgolfer6345]

@@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?

[@jacobking1131]

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

[@NYNC88]

John's bullet wound comparison was ridiculous.

[@brewsandbass5572]

I know some people that will be in the same situation soon and I don't feel bad for them

[@mrtt9800]

I miss Dave on this call. John on the show like this is not really giving concrete advice . Keeps interrupting George who has a better understanding and almost like Dave

[@cherzum]

John adds ZERO value to these calls and on some level I believe Dave knows this.

[@flashthecorgi2053]

@@cherzumspeak for yourself. John adds A TON of value to these calls and seeing the reality of her situation. He’s the whole reason they address a lot of the psychology. Delony is one of the greatest assets to ever been added to Ramsey and it’s because he’s educated and experienced in counseling people when the wheels fall off. He gave this woman the hard truth but also was compassionate at the same time.

[@franziskani]

@@flashthecorgi2053 If they save 10,000 USD per year on interest (which they can if they find a way to REFINANCE the 12 % to 18 % credit card debt in total 127,000 USD) it helps them getting out of debt faster. And they can throw 5k of that on psychotherapy to find out what is going on with them.

[@kaylighboo1987]

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

[@Eiriririruttitjejri]

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

[@spankynater4242]

Weak comparison. You also have to take into account cost of living.

[@Eiriririruttitjejri]

@@spankynater4242 argentina it's expensive

[@Eiriririruttitjejri]

@@spankynater4242 costo of living in Argentina IS EXPENSIVE

[@Kurtdog63]

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.

[@westbccoast]

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.

[@SRD1281]

Word of advice for anyone young and who's watching - form good money habits now.

[@enricopallazzo3244]

You ain’t retiring in 50 years, let alone 5.

[@machutson5493]

Exactly

[@robertjetski8736]

They have 150K income. Its doable in 10-15 years. Scorched earth though over the spell. And afterwards as well.

[@R4d1c4lEd]

@@robertjetski8736 You are talking about people who are taking regularly loans for vacations. They are not retiring in 50 years, let alone 5.

[@markg999]

​@@robertjetski8736They arent disciplined enough unfortunately I'm afraid.

[@katydid917]

@@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.

[@carnivoreRon]

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.

[@olaabi2229]

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.

[@andrewvisiko5250]

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.

[@turtleanton6539]

So nice😊

[@LoverboyB_Pookie]

life happens G

[@letsgotomarsman]

Ok nerd

[@bantizzle79]

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.

[@CynthiaIvers]

Especially since she doesn't have a title to it.

[@smileychess]

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.

[@justinebailey5333]

Right

[@bantizzle79]

@@smileychess Carvana gave me 2k more than the dealer offer. I heard CarMax was a good place to sell as well

[@danlee27]

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.

[@FreeAgent797]

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.

[@MichaelJones-rn2pq]

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.

[@macpduff2119]

I totally agree that they should NOT sell the house. The associated fees with a house sale and move makes no sense

[@DoctorSmartyPants]

​@@macpduff2119 Agree. And a good chance their new house payment would be higher.

[@BrianW211]

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.

[@judiashley5818]

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

[@bradleymaravalli2851]

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.

[@evanoman7587]

Problem is they owe $88k on the car (they kept rolling negative equity into the next loan)

[@deadgolfer6345]

Yeah, but where are they going to get the other $30k?

[@bradleymaravalli2851]

Their problems is getting the $88K loan. Will be easier to get the $30K loan. Whether through a personal loan or a HELOC.

[@deadgolfer6345]

@@bradleymaravalli2851 Why would they be looking for an $88k loan? They already have an $88k loan. They only need a $30k loan.

[@judiashley5818]

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

[@mikedonovan6583]

I owe $110 to my dentist and I'm annoyed about it. I couldn't even imagine this.

[@lot2196]

Sometimes I think they are spraying us. Retire in 5 years? Umm......nope.

[@dearestdarling9467]

Yeah, I was shocked when she said that. More like 15.

[@lot2196]

@@dearestdarling9467 She even mentioned they still have student loans. At 59? Could be for their children I guess.

[@J_R15]

I’m sorry but this show will die when Dave does.

[@cherzum]

I totally agree...these guys, especially John, just don't have what it takes.

[@jermaineishmael7225]

Think I get what you mean, there was so much going on here beyond the technicality of the debt which was totally missed by the presenters unfortunately....

[@johnnyfudpucker6187]

Retire in 5 years? I am sorry if I am rude but how stupid do you have to be to run up that much non medical debt? They have compassion on this show but how they restrain themselves from calling people absolute idiots is beyond me.

[@GucciMousepad]

Time to sell the house

[@justinebailey5333]

Yassssssssssss

[@austineromosele8481]

Sell the car

[@ROCKETS2965]

Y’all bought an $80K car with $130K in credit card debt and more in student loans?! 😂😂😂 There’s no other word for that than stupid.

[@firegirljen]

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😂

[@jdtreharne]

They say that if you're debt free you don't need a credit score

[@thisguy7201]

You only need a score to take out more debt ya ding dong😂😂

[@firegirljen]

@@jdtreharne that’s great. How many people do you know that are debt-free

[@firegirljen]

@@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. 😹

[@firegirljen]

@@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.!

[@aaronalquiza9680]

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.

[@justinebailey5333]

😂😂😂😂😂😂😂😂😂

[@UnstoppableMorgan]

The math ain’t mathn’! These two must be living a super fancy lifestyle to be blowing through so much cash and only have 1 thousand in the bank. Insane and pathetic!

[@aaronalquiza9680]

Is there a point where the bank/credit union says "Hmm.... they're over $50k debt in just credit cards and can't pay as regularly anymore, should we stop allowing them from accessing more credit card debt?"

[@rustycolon9368]

Never ever never lmao Does a casino try and get people to leave who think they can beat the house? People are irresponsible with debt and their finances. It's financial illiteracy and impulsive spending. 10000%.

[@BrianW211]

Yes there is, but these people haven't even come close to reaching that point. They can make the payments no problems. What has happened is that they finally realized how long it will take to pay off all of their debt and then when it's all paid off, they will be 5 years past where they wanted to retire and still have nothing saved for retirement.

[@tammyturowski6703]

They're still paying. Banks r making 30%. They'll keep lending

[@ChristoherWGray]

Poor caller They bring in $13,000 per month My God Only in America

[@TakeitEZ777]

I think she needs another credit card and take a vacation to think about what she have done…..

[@Ms.MD7]

Lol I wouldn't be surprised if they did

[@14elvira14]

I don't feel bad for her. 13,000 income a month? This is funny.

[@adrian3747_]

Same! she enjoyed and lived her life

[@mbnich0269]

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_]

who needs 30 year old wedding set?

[@stillsober19]

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

[@geo865833]

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.

[@GAFB1122]

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!

[@geo865833]

@@GAFB1122 thank you. Very kind of you.

[@iloveamerica3917]

Don't worry too much about her. She was smiling big on those vacations and when they drove a new car off the lot.

[@geo865833]

@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.

[@dunker2be]

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...

[@antoniofigueroa5084]

Brand new car and 20k under water already. I'm not optimistic about 2024.

[@PInk77W1]

My cc high was $27,500. I was insane. Now $0. Cut up. It was a war to pay off

[@gardenofe12]

They put vacations on their CC for something they can’t afford for a week’s worth of fun - wow talk about insane !!! She’s living a life she can’t afford and putting everything on CC and now realizes she is up the creek without a paddle !!!

[@ignitionSoldier]

This is why i strive to save so much money. I dont want to be in my 60s truing to paydown debt.

[@jrey4703]

Bad advice. Sell a home at 60??? You really think they’ll be able to buy another? Some of this advice is good but that I art is terrible.

[@FreeAmericanUSA]

We have half a million in high-interest debt and want to retire in 60 months. Fat vacations on plastic are fun until the bill comes. 80k ride? I can hear the fear and profound realization of reality. She's going to be working into her 70s. she's got to pay to live too. All that stress is awful for your health. Living simply and humbly pays off. I hope they have some peace in life.