These Callers Share Their Worst Mistakes With Money | Ep. 4 | The Best of The Ramsey Show

[@TheRamseyShow]

I'm 25 and Bought a $52,000 Car Because I Drive A Lot!  0:21 Really? (You Just Did That, and You Have $45,000?) 9:23 I Regret Ordering A Tesla! 14:42 Dave, I'm In A Huge Financial Mess! 22:22 I Think I Made The Worst Financial Decision of My Life! 29:17 You Signed a $1,800,000 Loan with a 25% Prepayment Penalty?! 38:07

[@zimmermanlandscape9287]

I have a 90 mile round trip and I drive it with a car I got for free

[@ALCRAN2010]

@@zimmermanlandscape9287 + $52K..!!

[@zimmermanlandscape9287]

Tax free money

[@balapudota5292]

Qpp

[@janedoe6071]

When I handed my brother his mail . His bank statement.. he said”. Just throw it i DONT even want to look and see all the money being spent” 👀 (his fiancé sold him a pension plan she’s getting wheh she retires from being a dispatcher! How much can a dam pension possibly be from the state? To just spend 8-10,000$ a month pay check to paycheck! Id hope the pension is huuuge but it’s not . Or I’m missing something?

[@rebecca_is_book-hooked]

I listen to these calls to scare myself so I don’t make bad decisions with money. It is enormously valuable to learn from other people’s mistakes.

[@heathergabrielli5018]

Same!!!

[@allikat1352]

Amen!

[@minnesotaprimal9721]

I agree!

[@kimberlyellis5287]

Same!

[@willtacoma2ndgen661]

Same

[@karlybyrd1551]

Nothing like listening to Dave Ramsey to remind yourself that your situation really isn't that bad 🤣

[@kamelkani4051]

🤣🤣🤣 me too

[@DadJuniorVideos]

I’m losing my mind over 4k in CC debt and 20k on a car that’s negative 3k. These people let me know I’m in fact still on the life raft and not at the bottom of the ocean with the titanic lol

[@christinamormann319]

I refuse to call Dave because if he knew how much my truck payment was he would kill me. 😩

[@aaronalquiza9680]

it's a good idea to still think you're at rock bottom (for mental preparation) even if someone else is worse off. just so the motivation to become debt free doesn't fade away.

[@redwallz4624]

My negative $600 in bank account not so bad after all

[@AvecPoesie]

I drive the car my beloved late Father bought brand new BACK IN 2001. He drove it for 7 or 8 months and then passed away. It only had a few thousand miles on it. My Mother held onto it and gave it to me in 2011, a decade later. I STILL drive it. It only has 77, 000 miles upon it for a 23 year old vehicle. It's a Mitsubishi SUV. It guzzles ⛽️ gas, but I have never had a car payment in my Life. I never will. I've been listening to Dave for too long. I will always save and buy used in CASH!

[@ParentingIsPlanning]

Thirty-five years ago I was diagnosed with an autoimmune disease. I was warned by the physician that I would be disabled before age 50. He advised me to NEVER buy a new vehicle, to invest in a mutual funds and to prepare. He was right! We drove a 3rd hand vehicle for 15 years! That mutual fund is doing really well. I’ve had several joint replacements over the years. That was the best medical advice I ever received! And, I’m listening to Dave Ramsey and still being conservative!

[@JegErN0rsk]

I hope you got back to the physician and thanked him

[@doctorposting]

good doctor :)

[@Marie-pb2zy]

Now that is a doctor we all need

[@neliai.7914]

Hope ur doing ok 😊 health wise

[@marjieismont3186]

Check out Dr. Brook Goldner - she has a program that improves autoimmune diseases

[@willfishing5605]

I came sooo close to buying a $75k truck about 2 months ago... I mean I was in the finance room about to sign and I got cold feet. 0 down also. I then discovered Ramsey a few weeks ago, and I am SOOO GLAD I didn't buy that dumb truck. I had a moment of clarity and dodged a bullet! I'm on the Ramsey program now! This is a way better way to live, I can already tell

[@VincentVanHalen55]

My father just bought an 80k f150. It kills me that my parents are so dumb with money and refuse to listen to me about being smarter financially because "I'm the parent and your the kid"

[@deeslim2]

Good for you 👏🏾👏🏾👏🏾👏🏾

[@marshallvinter9090]

Man the exact thing happen to me i had the finace papers and im looking at my old truck but man im so glad i got cold feet aswell that thpught of that 800 a month payment was to much

[@BusArch42]

Dodged a bullet!

[@nigerians_have_starwars_names]

Great great intuition!

[@busybee6692]

One time we bought a time share just to get a free ride on the river walk 😂. I had no idea what it was and they did guilt trip us. The kids were so excited about all the vacations we were going to do. When we were driving home (4hrs away) i read the fine print, researched and I freaked out, wrote up a letter and submit it to cancel it as soon as we arrived home. 😅 I got calls from the salesperson wanting to know why we canceled. I told her she was dishonest and scammed my family. Biggest financial lesson we learned as a family and we were so lucky we were able to cancel it.

[@talyahr3302]

So glad you were able to cancel!! 🙏🏾 Smart move at least doing the research once you got home.

[@NewlyWedz06]

These dealerships must hate Dave. 😂 I’m $3,500 away from paying off my car. 1 year early. Lord Jesus, let this car stay pure til you return. 🙌🏼🙏🏼

[@junkanoobaby1]

😂😂

[@jacobawojtowicz]

Did you pay it off?!?

[@bill90405]

Whats the interest rate? Paying early could be dumb if the rate is lower than your investments.

[@forceuser609]

@@bill90405idiot

[@ekimandersom4478]

@@bill90405🤦🏼

[@CheckThisOut77]

Impulse buying: Wait. Just take a pic of the item and wait. 95% of the time I lose the desire.

[@viliabone1952]

I like the idea of taking a pic and waiting 😁😁

[@crazycdn8327]

My parents when I was a kid had me ask for something, I had to know the price of it, prove I had the money for it then wait 2-3 months. If I still wanted it I could then buy it. Most times I moved on (it was for big ticket items over $50 at the time) and forgot about it. The patience I learned has served me very well.

[@erin5115]

That’s a smart idea!

[@SycaShow]

I just now learned if you put it in your cart for 5-10 days they send you a coupon 😂

[@LaChilena09]

The biggest decision is who you spend your life with. My biggest mistake was spending ⅓ of it with an alcoholic and being extremely codependent. My greatest win was realizing my situation, getting out, and learning about mental health 😊 you are never stuck in your situation ❤

[@pinkarmadillomd]

💯 My husband (BF at the time) was in bankruptcy, and when we got engaged I paid off his debt so he could be out of debt. Then we bought a house my husband fell in love with which cost $100K over what I wanted to pay. My husband then got a real estate license but hated cold-calling so really didn't make much before he quit. Then he wanted to get a degree, so he chose a school in another state. Lost our trailer that I bought cash (with land) to a hurricane 6 weeks after we moved. He graduated and got his dream job, but we are now broke as broke can be with about $60K in credit cards, $120K for the double-wide, and $45K for my hubby's truck, and $50K in my husbands student loan!!! I HATE that before I met my husband I owned a townhome and no debt with $100K in savings and $200K in a retirement account. Now its ALL GONE and I feel so depressed about my finances. I am so frackin stupid...😭😭😭

[@annmarieknapp]

Congratulations on your independence Hon. I made same mistake too years ago. Just count yourself lucky that you didn't waste more time and energy on a vampire who sucks you dry of your life and vitality. Now you can focus on your life and grow the wealth you want and live your life in peace. I'll never remarry.

[@rickyjulian496]

How's the alcoholic doing? Can't have all been a waste.

[@heat5701]

He took care of you for a long time then 😂

[@AdamC4]

As Jay-Z once said it. If you can’t buy it twice, you can’t afford it. Outside of a home to purchase, this advice should stick true for everyone in every other category.

[@oliviafox6745]

My grandpa had a system. He maintained his new car and only replaced it when necessary. However every time he purchased gas, he set the same amount aside for his next car. So in essence paid for twice.

[@johannesswillery7855]

If he said that, it's golden advice!

[@georgeslupski5987]

Not really, your making an assumption like Dave Ramsey that every cheap high mileage car u buy is saving u money " pay 3k cash"......I've owned 25 cars and most of these high mileage cars u spend 200 a month in repairs or more, sorry but the safety and peace of mind of driving a car with 350 month payments and no worries of repair or breakdown is worth the 150 a month more your spending. The 2 exceptions are buying expensive cars or if u drive less than 10 miles round trip to work

[@ekimandersom4478]

@@georgeslupski5987Thats ridiculous thinking. The idea is to save money for a car, buy what you can afford. Or if neccesary, buy the cheapest new car possible and pay it of as soon as possible, nobody needs a 50k car or truck.

[@beck943]

​@@ekimandersom4478I kind of agree, except what used to be a $10,000 car is now almost $20,000 with higher interest charges and base price.

[@oglow100]

I made the exact mistake the first guy made. I bought a $69000 car in my second year out of university (i make about 200k a year) costing me $972 a month with 12.7% interest accruing. I paid it off within a year and now ive learned a valuable lesson, never buy expensive shit that depreciates over time on impulse

[@godlike7521]

Only buy it if you have the money, theres a difference

[@swifter018]

Wow man ur accomplished ngl 200k a year is crazy.

[@moonj605]

jesus bro whats ur career😭

[@oglow100]

@@moonj605 I'm a dentist

[@ChrsGotFourEyes]

Aye u can always sell it at a loss and buy something cheaper.

[@danieldpa8484]

My biggest mistake was spending on going out to impress people who were not impressed when I was a young guy in my early 20s.

[@excusemehello5904]

I feel U!

[@ricardorazura1089]

Yeahhhhh, I went through the same thing tbh. I own several pair of 500 dollar exotic leather boots. :p

[@DeliverUsFromEvie]

@@ricardorazura1089 color me impressed

[@MrRadical87]

I'm impressed!

[@Sg-gs]

Same. Paid for stupidity

[@ron5977]

Its ok to spend a little bit of yesterdays money but never spend tomorrows.

[@feliciavale4279]

Oh man, I love this. I'm totally stealing this one.

[@JerseyDevilJerseyGirl]

@@feliciavale4279 same

[@Kiara_Wrestler]

Wow this is apt.

[@seyned89]

Where did you here this from? It’s great

[@cleanuptomcat2]

Spending tomorrow's money is what keeps you broke and poor. I know because I was a once a degenerate gambler

[@alexsteven.m6414]

Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?

[@type-r3x]

I'd avoid the index funds, mutual funds, or specific stocks for the time being. The 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows sign of recovery.

[@brantheeskimo]

This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far

[@PremSteve-yg4de]

That's impressive ! I could really use the expertise of one of these advisors. Any chance you could recommend one?

[@brantheeskimo]

Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with "Rebecca Nassar Dunne" for the last five years or so, and her returns have been pretty much amazing.

[@MarcyLoccy]

I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@jonimitchell6962]

What Dave said about the emotions catching up is so true. We are debt free, very very comfortable, have a 7 figure net worth and still worry about eating catfood when I am old. We are retired but I still worry. It is so crazy.

[@kathleencooney1518]

Except that cat food costs more than a can of tuna.

[@DAJANEM99]

Congratulations. It sounds like that fear has driven you to success. 😊

[@sct4040]

Agree, I still walk to 3-5 stores just to save $5-10 a week. 😢😂😂😂

[@annmarieknapp]

Don't live with a scarcity mindset. Not good to put out idea of lack to the university. You have done well. You won't need to eat cat food.

[@allikat1352]

Becoming financially secure is like losing weight. Even though you are in better shape, you always fear backsliding.

[@mariahpotter7675]

My worst mistake is buying a $25k car when I was making $8 a hour and having a $525 car payment which over $300 of it goes straight to interest…still struggling with it and I make $18.35 an hour. Matter of fact I learned if u can’t buy something straight out, don’t ever do it cuz u never kno when u going to lose ur income.

[@mardriebent]

So true and then you loose everything

[@TulsaDude]

You can sell it and by a beater...

[@trendkill7781]

I still save $25 to $50 per week when I want to purchase something like a new phone .. till I have enough to purchase the item .. amazing how it changes your mindset when you save the money before buying .. at least 50%+ of the time I talked myself out of the purchase because I didn't want to spend the money I worked so hard to save and made due with what I have

[@davidhidalgo8465]

You’re going to make it, love that mentality!

[@PoloButtaBall]

great job

[@ElyWaves.]

I actually really really like that. That’s cool

[@isacperez7622]

I'm trying to get like you. Sometimes it just seems so easy to spend away!

[@xxtoptankxx6873]

What’s cool is after you’ve saved that money. The model has upgraded and become better

[@shelby2817]

PLEASE let Ken do undercover time share!! the content we need!

[@amberleaf3n144]

Facts

[@trezndawg4240]

Thank the LORD for Mother's! I wanted to leave college, my sophomore year, and I couldn't see the light at the end of the tunnel. My mama basically said, "Dummy, are you crazy? You need to stay in school because you will graduate without any debt!" I Love my Mother, and I was thankful for earning a scholarship.

[@joisan7888]

You have a great Mom. All of us learn life’s lessons the hard way. Best thing my parents ever taught me was you have to work for everything you get. Don’t expect to get anything for nothing. My parents had six children and not a lot of money. All my siblings have made good lives for themselves and their families. We are not rich, but we are all blessed with good values and great children.

[@aliciaballeza9592]

I don’t know why it’s so refreshing to hear that someone even as big as Dave can intellectually know, and then still go through the emotional growth that still needs to develop. It doesn’t just impact financial knowledge, but so many other things

[@jle4433]

Even if something is going wrong in my life, I did none of these things these callers have done. No student debt for useless degrees. No $40k cars with only $5k in the bank. No timeshares. Will retire on time. Life is great! I love these videos!

[@marcopolodarts]

You should consider signing up to teach FPU.

[@jle4433]

@@marcopolodarts I'd have trouble not laughing when people called in.

[@terricox3559]

​@@jle4433I see empathy is a strong point of yours 😂

[@sumdumguy6323]

"useless degrees" are relative. Philosophy or gender studies or poetry won't likely do much. IT degrees get jobs that pay relatively well. Other professions that require degrees are also lucrative.

[@vevasika]

@@sumdumguy6323my degree definitely wasn’t useless I gotta good job but if I could go back I’d just do a tech school instead and be a surgical tech or something. I almost went you med school but I’m glad I decided not to and got a job instead (actually having my daughter stopped me from going lol) but we were definitely scammed by the system no one told us how many jobs there are that you just need a certification for. I’m gonna tell my daughter to work and get a certificate in something before signing her life away to thousands of student loans

[@taraanthony6326]

I live for when Dave goes off on a rant about time share. This one is the best one!

[@Kevintendo]

Which one?? Time stamps please

[@nicholaslovett6248]

They’re vermin

[@overflow1789]

@@Kevintendo 29:17

[@MissBurr1]

Truth hurts, but it's good medicine

[@Dogsallday14]

I live in a rural area. I see a lot of slum houses and yet sitting in front of their homes and brand new cars … trucks all the time. Wow I’d rather live well rather than drive well 😂

[@creature57]

Agree. I see that alot too here in a small but wealthy town. Alot of young people driving expensive cars - alot more expensive than my little Toyota. Don't understand it.

[@estebanperalta8880]

My biggest mistake was I stopped budgeting once I started making over 100k. I spent so much money I didn’t have thinking I can quickly pay it off.

[@natashas9322]

Oh the timeshare call! Went through one of those presentations by myself once- the most scummy sales tactics ever! Basically telling me I was an idiot for not taking their deal and I didnt care about my spouse and future kids. I cried in car on the drive home, but dang it, I didnt get stuck in the timeshare.

[@donnalutheran6335]

Good job

[@nycdweller]

Smart move!

[@Absolute_Goblin]

I almost want to go to one of these presentations just to have this experience I hear about so often lol

[@junechang6915]

They are bullies. They tried to make me look like an awful parent in front of my kids. The best is to avoid them.

[@bee12355]

Good for you

[@sagatuppercut2960]

Some of these people don't really have money problems. They have SPENDING problems! They are typical Americans (myself included) who have to have everything right now instead of being patient for a few years.

[@3Dimensional3]

Spending IS a money problem

[@juniekalu9340]

I agree. The spending habit gets me all the time. But I've been following the steps and paying down my debt. Projected to be debt free ( except mortgage) by next year.

[@dominiquejones6758]

My biggest mistake is going to school and getting a worthless degree that costs me $45K

[@isaiahhampton3389]

Find a way to make the knowledge worth it

[@barnabusdoyle4930]

The almighty Underwater Basket Weaving Degree

[@sizweshongwe331]

What degree is that?

[@mannyjeanpierre4062]

What degree?

[@charityclark7910]

I hear that from so many people.

[@JMichael2x2]

Cary Grant the famous actor from 60 years ago, never escaped the feelings of poverty. Even though he became a multimillionaire he had the fear of returning to poverty, and that fear impacted his spending decisions.

[@annmarieknapp]

A scarcity mindset usually only manifests lack.

[@soapfan2700]

At least that fear meant he didn’t waste it and will have created generational wealth.

[@anaitam1357]

so many celebrities and professional athletes do go broke regardless of the money they earned. In my career I have worked with two former NFL players who had short lived careers in the NFL as well.

[@JMichael2x2]

@@soapfan2700 - I certainly wasn’t suggesting it was a bad trait - I’m sure he loved the life he lived.

[@goldengirl5165]

I'm taking the Financial Peace University classes right now. My husband and I were in the process of getting evicted and a lot of people from our church have helped us out in many, many ways. I lost my job a couple of months ago and we had nothing in savings and someone recommended and even paid for us to take these classes. I got rid of my car and the payment attached to it. I JUST got another job and now I'm planning to take a bicycle and a public bus to and from work and implementing the baby steps.

[@erin5115]

I hope you were able to turn things around!! I’m glad you have a good community around you!

[@erin5115]

@@goldengirl5165 yay! 🙌🏼

[@goldengirl5165]

@erin5115 I was able to turn things around! I got a job at Walmart. We kept our apartment, and I rode the bus to work every day except on Sundays (when busses don't run here). On Sundays, I rode a bicycle to work. At night, because I get off late at night and busses don't run at night here, I had a coworker take me home. I was lucky enough to have a coworker who gets off at almost the same time I do who happens to live in the same area. She gets off 30 minutes after I get off, so I didn't mind waiting 30 minutes. As far as shopping goes, I get a free Walmart + membership, and I got my groceries delivered for free, so that helped. I received a tax refund and was able to purchase a 1991 Oldsmobile Cutlass Ciera with 160,000 original miles on it for a grand total of $1,800. It's not a bad running car, considering how old it is!There's nothing majorly wrong with it but little things here and there, but I can have my brother fix it for almost free. I have $1,500 in my CHTF fund (Crap Hit The Fan Fund), and I'm adding more into it in 2 more weeks.

[@erin5115]

@@goldengirl5165 awesome!! 😃

[@ETAonTheEUC]

Man, I really needed a mentor like this in my life like 20+ years ago. BADLY. Geesh

[@randomutubr222]

“You’re broke! So forget the whole emergency fund thing.” Great advice Dave

[@JDAfrica]

the best advice Dave ever said. You broke - if you making payments, means you can’t afford it. If you can’t buy it cash, then you can’t buy it. Start living like someone who’s broke - broke people can’t eat at restaurants, broke people can’t go on vacation. That single statement changed my life

[@paulstandaert5709]

I did almost 100 miles a day with a $600 car for several years.

[@zrpalette]

A hundred miles?? Where are y’all going? 😭

[@paulstandaert5709]

@@zrpalette I did that for employment.

[@annmarieknapp]

Good for you.

[@xsgtxbigboy1655]

Same lol doing 100 a day now but I don’t have a cheap car making it worthless

[@rickyjulian496]

Regular oil changes. Wish it was that simple for us to do 100 miles a day for 100 years.

[@DrSoftShoo]

Dave Ramsey: "Cars are the largest thing we buy that goes down in value" Me, who thought buying a boat to live on in my 20's was a good financial decision: 😬

[@WayToVibe]

Don't feel bad. My brother just sold his house to live in an RV. Then winter came. Sometimes our mistakes happen just so we have funny stories and good advice to share with others.

[@cameronwhite9742]

@@WayToVibe what happened I work from home and I wanted to do this?

[@wonderbeauty10]

Love that you were able to hear the pain and shame in that gentleman's voice and give reassurance that God still loves him. I'm sure he needed that more than you know

[@misspapo3444]

I get a rush saying no to timeshare presentations. I love it!!!!

[@sharonh8121]

If I remember this year correctly, in 2007 when our children were young (like 13, 12 & 10), we listened to a Time Share rant, and I am so GRATEFUL we were smart enough to continue to say "NO, we're not buying one!". And all the comments Dave said about what those sales people say were exact words that comes out of their mouths!! This was in Virginia Beach.

[@normantheforeman9866]

My biggest mistake was not saving much in my 20’s. I managed to keep my debt always below $12k at a time, but just didn’t save much

[@SakuraMo1844]

Just started saving and am 43:)

[@auburnanger6679]

I was taught when I was little and had a paper route that you always save half. I didn't like it at that age but it sure helped me understand budgeting. My husband wasn't taught to save anything but he never had debt either. Now trying to help teach our kids but life is expensive even just groceries and gas.

[@sct4040]

My 20s were foolish times, I spent it all on stuff, and vacations. I promised myself I would take care financially when I turned 30, went to the library, read up on finance, invested, started retirement plans. And now, I am comfortably retired. Best thing I ever did for myself. Also, buying an apartment in cash helped too.

[@ennvee1989]

I love it when Dave says " rice and beans , beans and rice" 😂😂😂

[@LuxeSuy]

Like it’s 2 different meals in 1 😂😂😂

[@karenbanogon3244]

He can also say, ramen noodles, noodles ramen 😅

[@santosme2398]

I’m Latina and this is our main meals 😅 for lunch and dinner haha😂

[@jeffhenry8586]

7 years ago i was 48byrs old renting a house and had no money in savings just divorced and only about 75k in IRA. I did not have any debts. Now i have a paid for home worth 350k, 600k in retirement and savings and I'm retiring at the end of the month. Follow what Dave tells you and you will not be disappointed. My income during these 7 years was only about 100-110k. It can be done with discipline.

[@lisawilliams5353]

100k annual?

[@jeffhenry8586]

@@lisawilliams5353 Yes.

[@jeffhenry8586]

@@lisawilliams5353I did receive 50k of inheritance a couple years ago which I used to pay off my house.

[@Babygirlsound]

Good income, no dependants. It can be done

[@rickyjulian496]

That's me screwed. I only make 15k🤣

[@therocinante3443]

Honestly, if every person in America would just listen to Dave and then do what he says? 90% of our countries problems would be resolved over night.

[@brenthouseholder4174]

Not really... There would still be problems, just different problems. The man is not a God. At times, his advice is garbage.

[@michaeltewes7833]

No one is perfect

[@jemimacoop2726]

No there are still people voting for Democrats. It's wild

[@Dave-uf8ek]

The government should follow Ramsey advice , country would be better off .

[@juditharsenault2131]

I went to the grocery store to get a few onions. Walked out with $65 worth of groceries and forgot the onions. Went back in and got a bag of onions and another item . $12. The light bulb went on when I realized what I had done! Not gonna do this again.

[@justinaacorn5721]

😂yes. We have all been there! Shopping List is the best😅

[@kathleenmathews6096]

At least it was food so useful. I usually hit the produce and meat areas and try to stay away from most aisles especially the eye level items.

[@herfirstmate]

There is no way this lady is going to throw that money on her student loans. She's holding on to hope until today.

[@jaimeavakarianvillamonte744]

She isn’t going sell the car either

[@hofterup]

With two years left to go, I think she should hold on, on the off-chance that it works out. The interest rates weren't high, so she could put the money in an index fund and actually come out on top in either case.

[@jeremyncrm2012]

@@hofterupyour answer makes mathematical sense, but at some point I wish people would take some responsibility for the loans they agreed to pay and not rely on outside help for personal debts.

[@pinkarmadillomd]

​@@jeremyncrm2012THANK YOU!! As a taxpayer, I'm really annoyed people expect loan forgiveness...where does everyone think that money comes from? And for the record, I have student loans, and I don't even bother with applying for that forgiveness. Its my debt, my responsibility. I lost my house in hurricane Michael so now I live in a trailer, but I'll be damned if I'm gonna take a govt handout.

[@vevasika]

@@pinkarmadillomdthe public service loan forgiveness program has been around for awhile it’s for public servants only hence the name it’s used to encourage people to work in jobs and areas that are needed but most people wouldn’t work otherwise and many people get the student loans because it’s supposed to be forgiven for that type of job. Newsflash your taxes are going to student loans anyways because the federal government backs up all these banks and lenders and once that happened colleges realized they can charge whatever the hell prices they want. The whole system is messed up and the federal government has scammed its own people. Don’t be mad at people who were coerced into a bad financial situation at a young age who deserve forgiveness do your research and be mad at the banks who have scammed millions of people and are straight robbing tax payers. Education shouldn’t cost peoples livelihoods we need an educated society getting an education is a good thing for someone to do it should be encouraged not something you get a death sentence for

[@jvsaints3028]

I'm 72 and have learned a lot from this show. I was always the last person to get the newest gadget and happily drove my last car more than 20 years. I would probably still have it if my kids hadn't insisted on selling it. I've always been happy with being frugal. I'm so grateful.

[@davewarrant8673]

Spending: Motive "Am I just buying this to show off for my friends?" Affordability "Can I pay cash for it?" Research "Is this the best price I can get?" Timing Do I need it now, or can I wait / is there something that's a better use for the money? (opportunity cost)

[@texasskygirl7890]

I'm a flight attendant. People ARE gross. They don't take care of things that don't belong to them. Sometimes the cleanup of the messes made on an airplane by unruly children, doesn't even cover the cost of the ticket. Same with rental properties. I just don't understand the mentality.

[@matthewgeissinger2856]

Rental properties are fine if you realize you have to work at it. It’s a job. Screening tenants is extremely important and a step no one talks about. I was a landlord for ten years and I worked at it. I sold my property because I wanted to focus on my family and free up some time. Always weigh the opportunity costs of any investment and educate yourself. Many people who buy property don’t understand a lease agreement and the laws that govern the tenant / landlord relationship in their town and state. It’s not a quick fix to get rich.

[@irenejones7485]

Dave, “you can do what you want to do and obviously you regularly do that.” 🤣

[@rosaesparza2065]

My biggest mistake was going into business with a narcissist and losing my retirement savings and going bankrupt at 25

[@arijana6524]

I am so sorry 😭😭🫶🏻

[@stevenwilliamson8103]

Pretty cool, Dave is really helping some people out. Hard to be in these situations and it’s good to have someone coach you back on track

[@comment2250]

Cars, mortgage debt, credit cards, and student loans appear to be the four types of debts that all these callers have in common. And the people who call typically earn six figures or MORE, which goes to show that a high income can't fix stupid, it only enhances it.

[@AlisaBrown-y8z]

The degree is probably what got them to the higher income.

[@juniekalu9340]

Earning a higher bracket income typically puts one in a mindset that everything is affordable

[@nalumolina8860]

Somebody actually had to call to see if they were making the right decision to buy a $60k car on a $60k salary. How many problems can we solve by just saying them out loud?

[@Nolaman70]

Nearly the biggest mistake was getting married. But I paid her for half the down payment on the house and kept it. Paid 93k for it now it's worth 230k. It's paid off now. Second mistake was cash out refinance to buy a car. Note stayed the same because intrest rate went down but it added time and 30k to my mortgage, making it 120k instead of 90k. Haven't made either mistake again!!!!

[@Nolan.Gurule]

Dave is the dad I wish I had growing up.

[@oliviafox6745]

We went to a time share presentation in ignorance but knowing exactly what our vacation budget was. They promised a bunch of perks, most of which we never got. First was the general presentation. Then an individual one. Then we were put in a poorly ventilated room and seated while the presenter stood and tried to convince us we could afford it. We left with a $20 gas card that couldn't be used locally and two cans of soda. Even the "free" vacation week involved cleaning fees, and any of the recreational things cost extra. All for fours hours of our day off. Lesson learned.

[@sweetfayce18]

My biggest mistake. Losing 12k in a real estate deal because I didn’t know how to be patient.

[@mitchdegrace2040]

I lost five grand on a ponzi scheme...I asked all the right questions like...did you run this past a good lawyer and the answer was yes...I believed her because she did so much at our church...live and learn

[@FreyOD]

betrayal is a b*tch

[@annmarieknapp]

Wow, I would especially be wary of church goers.Sad.

[@3Dimensional3]

You had doubts from the beginning

[@larrybolhuis1049]

I heard that 'rent my Tesla idea' and wanted to scream at the caller: "NOOOOooooo! That's a horrible idea!" Can you even imagine some lead-foot young male renting that Tesla? The odds favor that the 1st or 2nd renter will destroy it and probably hurt themselves badly in the process. Three words for that idea: nope nope nope!

[@EverElia]

LOL 😂 “lead foot young male” hahahaha

[@marchosch3876]

Teslas are pretty neat if you get the right one and IF YOU CAN AFFORD IT. The guy's scheme was another version of "don't worry about it, it pays for itself!"

[@michaellamarche733]

¡Gracias!

[@richardball7251]

Funny thing I went to a timeshare presentation in Hawaii and when their presentation was over and asked if there was any questions…I asked what will happen if the company goes bankrupt ? Music went up and they asked me to basically leave .

[@1mari_]

😂😂😂

[@noble78b]

Every time watch Cadillac CT5 V Blackwing videos on KZbin, I watch Dave's videos to remind me why I shouldn't.

[@bradenqw3765]

I don't understand why people don't buy a used nice car, they automatically assume it has to be junk, u can spend 10k on a incredibly nice car with low miles instead of dumping away 40k with interest

[@3Dimensional3]

Cause you can't flex on social media in a prius....but that's their problem

[@beck943]

How do you find reliable cars for $10k that you can trust? I would rather pay $25k for new, and then drive that one car for 20 years. My first car lasted almost 19 years. I don't care about my current car's value because I have no intention of selling it.

[@3Dimensional3]

@@beck943 $25K ($10K down and $15K+ in payments) Or $10K and no payments

[@Cyanopteryx]

My biggest mistake was when my husband (then bf) compiled our savings (about 8k) and took a trip to Hawaii together. We were thrifty and got a good deal on an Airbnb, but we didn't budget or plan otherwise. Also our rental car estimate was based on if we were over 25. Neither of us were, so we spent way more on the rental than we anticipated. I also had a medical issue occur and and the time I was uninsured so I was in the hospital in Hawaii and paid out of pocket. We were totally broke by the time we came home. But other than the hospitalization, it was a great trip! We are now in a better place financially and are grateful we got to experience that adventure lol.

[@pinkarmadillomd]

And you have wonderful memories (outside the hospital stay)!!!🎉

[@YearofShakespeare]

Same thing happened to us regarding our car rental. Had to eat macaroni and cheese all week in Hawaii

[@comment2250]

Dave made me laugh when he said in that exaggerated voice, "Crap!we spent what on coffee, that's a lot of coffee!"😂

[@annalubbers1366]

Did they ever do that undercover op?😂😂😂 Thank you to my high school teacher who engrained in me “Nothing in life is free.”

[@hronnedepaulo9069]

This show continues to teach the best financial advise ever ! I thank God to have known Dave Ramseys teachings 4 years ago.

[@sydnismith9796]

“Stupid’s not illegal” 😂

[@arthurdebacker3270]

35:50 "You'd be the best Ramsey personality at being obnoxious" That had me rolling. Came for the financial advise, stayed for the comedy

[@dereksavauge6613]

I can’t stand these callers that are like “aw man I have $30k in debt what do I do?” “How much do you make?” “Like 500k a year” ಠ_ಠ

[@anthonydelgiudice3245]

😂

[@annmarieknapp]

That is annoying.

[@georgeslupski5987]

EXACTLY

[@soapfan2700]

It makes me wonder how they’ve succeeded to get such high paying jobs when they appear to lack common sense with finances.

[@bronchoped]

They are calling solely to flex on most of the people listening/calling that will never make even 1/7 of thay

[@ADAWGSLIFE]

I am with Dave that your emotions sometimes stay behind when you were broke… I work on that daily! We are completely debt free but I worry about finances… It’s insane

[@icarus.productions]

I'm 25 10,000 in debt and this is the best channel I've ever found to improve my life

[@missy567ful]

Dave is honest. You better have a thick skin when you talk to him.

[@mikehawk9992]

Going to college and getting into debt . Now a welder and make 150k didn’t need a degree unreal

[@marietaylor5174]

I thank God I am not as gullible and uninformed as I once was.

[@TrainerAQ]

69k in student debt and bought 45k car! If that was me I would have bought a 4k car and then put 41k in the student loan leaving you with a paid off car and only 21k student loan left to go!

[@jshepard152]

Well he didn't have 41k. He borrowed it.

[@JosiePC44]

​@@jshepard152she had $45k in her savings acct

[@keela0624]

Omg I’ve never listened to him he is so blunt I’ll be terrified to talk to him 😂😂😂but he’s 💯 with it that’s what we need !!!

[@feliciaford3620]

Ken =best Ramsey personality for being annoying! 😂🤣 I love Ken. This was just funny!

[@vmcnair25]

Man I found this show today and I must say it really open my eyes about debt.

[@GritandGrace33]

I came across it immediately after going through a divorce and just feeling a bit hopeless as mom of two. Their advice has helped me tremendously and I’m much better off today! Keep listening and best of luck to whatever your goals are.

[@katcraig7525]

​@@GritandGrace33 This is exactly where I am right now. I feel so overwhelmed, hopeless & broke. Hopefully things will get better.

[@GritandGrace33]

@@katcraig7525 hang in there, it does get better!!

[@katcraig7525]

@@GritandGrace33 Thanks.

[@MiaJFWyns]

I found it during covid lockdowns. Stay with this community ! Just listen, let it sink in. Learn about the baby steps. Even if you do not know how to start. Listening gets you motivated. Courage from Belgium.

[@mikelastime]

Dave you are a great man for things you do for people you've helped us out as well, Thank you and God bless you and your family

[@marshallhosel1247]

I wish that I understood the magic of compounding at 18.

[@michael1084]

My biggest mistake was spending money on depreciating assets. Every penny should go toward something that makes money.

[@rbarzola7756]

Can you share examples?

[@danieldpa8484]

The classic example is a girlfriend or wife - depreciating assets in its purest form.

[@Jenthesaint]

@@danieldpa8484 you must hate your mother

[@ndgrandma1818]

@@rbarzola7756 I think buying land or income property might be what he means… buying an expensive car is a waste of money, because it depreciates right away… my husband still insists on doing that, but I think it’s stupid.

[@rbarzola7756]

@@ndgrandma1818 agreed luxury cars or new cars go down in value super fast. i think electronics these days also depreciate fast so it is wise to use them for as long as possible.

[@kel-kel1723]

Biggest mistake working a job for 30 years with a $400,000 401K…… cashing it out to pay cash for my dream house with someone else….. then that someone else left and now I’m 56 and have $20k in my new retirement. Some days I’m just despondent over it and can’t function

[@janstolk486]

And they wonder why young men don't marry anymore .

[@Futureacquiescence]

Can you sell?

[@LightningMcQueen-rc3mh]

@@janstolk486young men should pick better partners lmao skill issue

[@brandishantel5889]

My dad tried to gift me his timeshare for my wedding back in 1994. Thankfully I knew better.

[@3Dimensional3]

"Here, hun, take this debt"

[@TrainerAQ]

I have bought plenty of $4000 cars that have been great 10 year old cars. I'll never understand how people spend 50k on a car. When a car loses so much value in the first couple of years. The other thing is maintenance, insurance and registration cost more on a newer vehicle.

[@Coffeeismylifeblood]

Dave I feel so safe in your presence because you’re so honest and that’s my love language. You’re a dad of God, wise and honest and there’s nothing more reassuring than that. ❤ Thank you for being my money dad.I bought your course and I start f2f because that’s what you recommend. I’m looking forward to it despite being nervous because I’m very shy, but it begins in October. ❤ My daddy’s in heaven, but he’d cheering me on.

[@foodmens]

yooooo chill thats too much 😂😂🤣

[@michellemorales401]

I was blessed to be a part of the 2%. My SLF was $17k. I've been at the same job for 30 years.

[@andrewsnyder9262]

I’ve been doing turo for about 3 years; had 15 cars at peak. I’ve managed to get through major accidents, blown transmissions, destroyed suspensions from people ramming bumps/curbs, smoked out cars, burnt up tires, etc. I’ve also managed to make some money but overall, it sucks. Don’t ever go into debt to do car sharing.

[@Torqued_to_Spec]

I went to a Time Share presentation for Disney discount tickets many years ago… and I DID NOT BUY. Here’s the funny part… if you buy they cheer, ring bells, and put you in a limo to the front gate. Say no and you get shoved out the back and packed onto to old school buses and get dumped at the front gate. That bus ride was the best part.

[@lizguzman913]

I starting to pay off my 3 credit card debt watching and listening to Dave , feels good its only $15,000 to much. lol

[@ezyryder11]

10:43 caller tells a loooooong story and then Dave asks his favorite question

[@Lucysil1970]

I’m still running into many college students who are studying history, anthropology and some of those other feel good degrees and they are now working at Target. You can’t just go to college and do whatever. You have to be selective about what you study or you will be wasting your time.

[@ldav2006]

My grandson is in the same boat. He can't be reasoned with. I decided not to gift him any more money. He will have huge debt but doesn't seem to care. He'll get what I have after my death.

[@Futureacquiescence]

Psychology is so oversaturated now. We need a ten year pause on humanities degrees.

[@kdubbya]

As an automotive technician you're all but forced to go into debt to aquire the tools to do your job. I'd FINALLY gotten rid of all of my tool debt about two years ago and stuoifly decided I needed a bigger box. On the bright side i wasn't as dumb as I was 10 years ago, so I paid it off quickly. One of my best friends (who also works next to me) bought my old box that I'd traded in, every time I look at it I'm reminded just how much I didn't need to spend 10k.

[@gregorymalchuk272]

Modern automotive technicians have more in common with 19th century sharecroppers than the traditional notions of the mechanic.

[@complicated-antihero]

You're safe now. Man, I needed to hear that right now. Thank you.

[@jeffbalog5161]

I wish you would do a under cover time share investigation, embarrassment to these companies.

[@mikeshaw4610]

On the guy that was thinking about charging other to drive (rent) his Tesla. What is he going to do when someone have an accident and his insurance denies the claim because it was being used for other than personal. He than still has the payment and no car.

[@sabrinay9430]

Getting a student loan for a worthless degree. I don't regret going to college, I regret the degree and not researching other forms of funding

[@bigdogbandal]

I am so thankful that I live in a paid for house, on paid for land, in paid for vehicles. Only "debt" my business has is lease payments on equipment to the leasing company that my mom owns.

[@angelajoybb]

None of the millionaires I studied went into debt buying a car to rent it out. Omg. That’s one way to put it. Lol

[@rosaesparza2065]

I never understand why people justify the purchase bc they will put their car on Toro

[@MarksTournaments]

@@rosaesparza2065 hate people that do that. I want to actually run a fleet but the prices are so low because of people struggling to make their $900 payment

[@Opinions691]

Even pastors are human! God bless him!

[@cdm9011]

When Dave started FPU in 1994, $1000 had the purchasing power of $2050 today. Dave should account for this with his starter emergency fund amount.

[@aaronholmstrom390]

He has addressed this. $1000 is more than enough

[@pennyk1943]

People still can’t save $1,000. That’s the problem. If he says more then it’s going to be overwhelming for most

[@GiantIrishman]

The emergency fund is the 3-6 months of living expenses. The point of the $1000 is to teach you how to start saving long term. It’s a small win to prove to someone they can do it.