We're $30,000 in Debt Making $80,000, How Long Will It Take To Get Out?

[@jonathansaenz6436]

Sold everything and the kids think they're next 🤣👏

[@mcbins1993]

@Ryan lol

[@mcbins1993]

😂😂😂 lol

[@ecij14]

]

[@Joseph-ub5wh]

@Ryan not technically everyone's sold each other at some point in history.

[@Espresso_plz]

@Ryan that's not very cool, dude

[@HitmanChase]

“You got a lot of balls...in the air” scared me for a sec Dave lol

[@sami-9233]

Scared of censorship Silly

[@kimmywimmy7305]

Lol, my son overheard this part in passing and started laughing 😂

[@connornobbs3487]

I don’t know why but I could listen to Dave all day, god bless 🙏🏻

[@Budd631]

I feel like Dave is good for people who lack impulse control and basic math skills. It’s not that difficult and Dave is VERY severe with paying things off.

[@ddfamf88]

I think you mean at least half of the American populace😎

[@Budd631]

@@ddfamf88 hahahaha that’s funny but it’s true...and really sad.

[@imjoshellis]

He has to be severe because half the people he talks to will only do half of what he says... It wouldn't shock me if this couple who are supposed to be able to pay off $30k in a year take two years... I feel this is the case for a lot of callers, and I think Dave knows it too. If they're the type of people who would go all in, they wouldn't have a need to call in the first place!

[@RealGalaxyGamers]

Dave is good for everyone no matter where they are how good they think they are at “impulse control”

[@WeBeatMedicare6969]

His math just doesn’t work…it’s a virtual impossibility what he suggested to pay the 30k off in one year

[@jenniferreynolds3232]

I knew he would say that!! "Live like nobody else so you can live like nobody else." -Dave Ramsey

[@razikhan4666]

Mon- Fri Rice & Beans Sat Rice and Sunday Beans.

[@missj5564]

Everybody needs to get a job, including the dog. 😀

[@PaolaHuezo]

Lol this is a sign. I’m 30k in debt & make 80k a year, about to get a promotion and make 95k. I plan to knock it all out end of year, I started with 50k.

[@mariorodriguez219]

Wanna get married? Taxes killing me

[@ColdSprite]

Sell the sign. Rice and beans !

[@SilverFan21k]

Good luck.

[@talyahr3302]

I love Dave's motivation! I need to shock my system!

[@WeBeatMedicare6969]

You also need reality because his math is not even close to reality

[@brixhaven1196]

My tip: Dont get scammed by the finance “experts” in these comments!

[@michaelb.8953]

With that kind of income vs. the debt they should be able to pay that off far sooner than a year.

[@mdaniel444]

80k per year minus taxes and insurance is like 59k though. They need to factor in net salary

[@insideoutsideupsidedown2218]

He is. He has been doing this for 30 years.

[@cw48494]

They make $88k/yr pretax, which is roughly $68k post tax. Insurance is a wild card ranging from $0-expensive; average health insurance in Iowa is about $5k annually, so let's say $63k - $30k = $33k. Average rent with utilities (rounded up) is about $1500 in Des Moines, $33k - $18k = $15k which would be for food, transportation etc etc. Easily doable in a year imho, assuming you can live on a budget.

[@richdollars8337]

@@insideoutsideupsidedown2218 NY is even less especially if you don't have dependents

[@PapsanDog]

30K in debt making 80K a year. Most people have 80K of debt making 30K a year.

[@shantedewise7345]

Unlike me its the other way around, I have 83000 in debt but make 35-40 thousand! In 2020 I paid off over 16000 and this year about 6000...so 83000 left!

[@potatodan5019]

Caller: we're not sure if we're gonna ren- Dave: sell it Caller: But... Dave: sell the kids too

[@joemunch58]

He's not including net income after payment of income, social security, medicare tax.

[@sergeypalkin]

Hi I’m from Russia 🇷🇺 Credits are nearly new to our country. So I down my credits from 28k to 22k. We don’t have such a show. So I’ve watch this to keep in right direction.

[@wittyusername9544]

Who else predicted what Dave was going to say?

[@a.m.doesit9347]

i dont think she did haha

[@garrettmesser3977]

12-18 months

[@alfredoramirez2538]

Sell it!

[@RJRussoVids]

The purchase of a truck is the unofficial baby step zero!

[@beckygeer6480]

How detailed do people get with their line items ? I often see people just starting out surprised by something like how much they spend at Starbucks. But do people actually track individual items ? I overheard in store a dad I think telling kids the cereal budget was done for this month, that eggs, pancakes, and oatmeal were already available at home for the remainder of the month. Do people track the amount of laundry soap, shampoo, cat litter, dog food they use in a month or a year ? I once heard Dave tell a woman she had too many separate categories because shoes were separate from clothes. I never thought to count how many boxes of cereal we buy, just buy another when one is gone.

[@Sexy40baby1]

You should have multiple categories for different things. Groceries, restaurants, clothing (this includes shoes), fuel, insurance, repair/ maintenance (for home, lawn and vehicle, this includes inspection sticker and registration), kids school/daycare (this includes uniforms, field trips/parties, pictures). You might not need to know how much you spent on ground meat (besides to be able to say the price has increased or dropped) but you want to know what amounts is being spent totally.

[@ewen9415]

I'd say they have a family rule that we only buy one box/spend $10 per month and the rest of the time we eat more filling breakfasts. Cereal only fills kids up for 20 minutes. Otherwise broader categories make more sense.

[@beckygeer6480]

I guess I worded the question poorly. I am not so much interested in the cash available in the envelope but more IF people TRACK items to be able to plan for future budget amounts

[@alycewich4472]

@@beckygeer6480 -- I do, especially with food. I've been frugal with my grocery budget for decades. I have kept a dry goods pantry and a large freezer. When certain items go on sale, I stock up on them, thus not paying full price for most items. BUT that all comes out of the grocery budget. My thought is that whatever works at first, do it. Once you have an idea of what everything generally costs, then your categories can be condensed.

[@umairahmad4711]

I seriously get confused sometimes with how some people with high income will get in high debt ? Like the heck ?????

[@nic_ccc3366]

Because it’s never about what you make, but what you do with your money.

[@JamesJamersonIsAGod]

Banks will lend them more money and they can sometimes end up in even worse positions than people with lower income because they can’t pick up some small side job that can make even a tiny dent in their total owed. I knew a guy making $250k+, had to drive a 15 year old Hyundai because he had FIVE mortgages...

[@rockswapna]

a lot of times people get in debt before they start earning high salaries

[@santiagohernandez4773]

@@rockswapna that is correct.

[@alycewich4472]

@Umair Ahmad -- I think sometimes it's the high income that makes people sloppy with their finances. "I'm making big bucks so I deserve this expensive (fill in the blank)." OR "It's only (fill in the blank) per month, I can afford that." It works for a while and then it catches up to you.

[@johndone8045]

30k is not a big deal pay 1k a month and u can walk out easily

[@tangousa2426]

no cable no internet car payment no eat out

[@joank.0421]

Sell it ... NOW 🤣😂 Love when that's the response.

[@evalina98000]

"Who are you and what have you done with the other guy?...jus shock it..." You're hilarious 😂 Uncle Dave wit your good advice 👍🏽

[@Fadel_Abbas]

One year.

[@untouchable360x]

4.5 months according to Dave because you don't have to pay taxes or need to eat.

[@stevenporter863]

Ya, Dave's estimates are very simplistic sometimes. 😏

[@Silidons91]

or pay utilities, buy gasoline, etc etc....

[@avocadogaming3942]

Dave Math = Taxes and living expenses don't exist.

[@Sutterjack]

I know - I love Dave's mantra "rice and beans" - OK, that's great, but maybe after a couple months live it up with some broccoli and spinach? lol

[@lloydwoodward9053]

They have $58k to pay the taxes and living expenses.

[@RealGalaxyGamers]

They only pay $14,511 in income tax on $91k/year

[@vanallen1673]

@@RealGalaxyGamers aren't you forgetting about social security taxes and possibly state taxes etc...?

[@jeffreyryan7068]

Nice video.

[@phaldaz]

No tax + current commitments according to Dave. 18 months instead of 12 months to clear is more reasonable. My $0.02

[@Fishouta]

I would do a three year plan and that would reduce my stress, as that us more realistic and I would challenge myself to beat that timeline.

[@XFizzlepop-Berrytwist]

It should only take them a year to a year 1/2.

[@OfftoShambala]

I predict in five years trailers will be in high demand.

[@Llama_vet]

80k before or after taxes, if after than 40k in 6months.

[@blackworldtraveler3711]

When I was crossing $80k a year I was paying more than that just in mortgage, 401k, and Roth IRA. Didn’t matter before or after taxes with me. Never think about that. Easy 12 months or less.

[@thinkforyourself9334]

Before taxes

[@emailduh6041]

That trailer is probably worth 1,000 to 3,000. Not hating. I lived in a trailer growing up. Trailers just aren't worth as much as people think.

[@tymom9313]

100%! Sometimes close to zero

[@MrOfficer235]

If they get over $5k I would be really surprised. She said single wife not even a double and it needs work.

[@dieselmutt8865]

Depends on where you're at. Where I'm at now even really old ones still go for $5-10k if they have been taken care of.

[@nathandean6753]

New mobile homes definitely keep value

[@tymom9313]

@@nathandean6753 🤣🤣🤣

[@stevedrake380]

“Sell it...NOW!” Lol! Our family’s mantra to release the chains of debt.

[@karensirko6738]

Dave why not sell the property too?????

[@Lon1001]

The trailer will be worth exactly the same amount in ten years as it is now - it won't appreciate and it won't really depreciate much more, just that the cost to move it is more than the value. Don't fix it up especially if you want it moved off the lot since it will need a few minor repairs to finish after being moved anyway. If you can get 10k for it to be rid of it do it, but OTOH it's paid for dwelling that could pretty easily be rented out.

[@tymom9313]

We don't even know how old it is. Manufactured homes always depreciate.

[@natnielsen8472]

@@tymom9313 You all are all SO wrong! This is not true! Things have changed dramatically in the housing world, and manufactured housing is more than holding it's own, and depending on the location the prices are soaring.

[@natnielsen8472]

So true, it's a few thousand to move a home. They could rent it to someone with a guaranteed monthly income that needs a place to live.

[@tickledpink6684]

The land will be worth far more with the trailer off of it. They can build and sell, just sell with utilities already in place, or hold.

[@natnielsen8472]

@@tickledpink6684 It depends on the location of the land, boundaries, etc. There are so many possibilities now and so many young millennials that are rehabbing/restoring manufactured homes. It all depends on the age - pre HUD- or not, and the condition. If they own the land and can rehab the home without much expense then renting it would work well, and the home could be the ticket for them to get out of debt. If it's really old and can't be salvaged then scrapping it out for the iron base would be the way to go. It's expense to pull a home off the lot, and then where do you take it. Even if you give it away anyone who'd take it normally wouldn't have the funds needed to haul it off. If it's still a nice home then renting it would be the way to go - at least for a season. Older seniors or veterans often need a home, but their fixed income is stable so normally their payments are on time.

[@TheY2AProblem]

Between 6-8 months.

[@shantedewise7345]

If u go hard a 12-14 months

[@Jumperman12mac]

Within a year..

[@CruzzzControl1984]

Should've put it some money in DOGE and you would've been out by the end of the year

[@djpuplex]

Plenty of second (And third) jobs out there. Plenty of nursing homes/ALFs with CNA, dietary aide, front desk jobs on weekends even doubles. More money to get out of debt.

[@Management_45]

lol I did CNA night shifts we almost done

[@alycewich4472]

@@Management_45 Good for you!

[@KC-dr3cg]

@Omer Shah Too many carjackings to do many delivery jobs.There were 51 carjackings involving weapons in 51 days here.

[@JosephDickson]

Stop screaming Dave, some of us are wearing headphones.

[@benden5095]

This should take no more than a year.

[@workliferecognition7002]

They should be caught up in less than a year

[@OfftoShambala]

They should be able to pay that off in less than two years. Then take that money and pay off the mortgage.

[@susannab.4485]

I got summons from Discover Bank on 03/18/2021 for $25K...what I have to do?

[@KC-dr3cg]

Make sure to communicate with them to see if they would take less or if your circumstances have changed and you are really very poor you might be considered judgement proof

[@chris-hu7tm]

(30/80)*52 aprox 20 weeks

[@bushmonster1702]

Rice and beans

[@kevinkidneyy]

DAVE TAXES YOU FOO

[@Learninghowtorebuild]

Lol she didnt need this show to confirm that. Make the sacrifice and pay the 30k off in one year. Why make it harder for yourself !

[@WeBeatMedicare6969]

Let’s do some basic math…88k income…say 70% take home lineages your with 61.6k…assume 2.5k rent/mortgage per month is 30k leaving you with 31.6k….sooooo pay off 30k or 2.5 leaves you with 1.6k for ALL the rest of your expenses for 12 months…yeah, seems realistic lol…that’s the problem with Dave sometimes…it’s just not realistic

[@pitbullboxing5]

It won’t take long if she put everything she has into AMC. Easy money

[@MrBRIANSPURGEON]

Dave: "three kids? Owe on them? Sell them! Sell them yesterday!"

[@wantsanewvehicle]

One year max..should be much less!

[@tcash2402]

I know Dave despises trailer park trash but here in Massachusetts a rusted out 50-year-old trailer on a rented lot is approaching $ 200k

[@robertcraft1030]

They are going to be out of debt in way less than a year. Sell the trailer. Sell the truck.

[@richdollars8337]

These 80k is like 50k after taxes

[@MohamedAhmed-wc3pw]

Saturna Token 🚀 I'll see you on the moon boys

[@patrick_harder]

👀🚀🚀🚀

[@mathaius69]

This games ridiculous haha let’s gooo

[@discorabbit]

Taxes.. why do you guys ignore taxes in your calculations? Makes me so mad😤😅

[@wittenberg5]

Dave never takes taxes into account.

[@z040880]

Dave doesn't take into account taxes?

[@rosannevlahos6239]

He doesn't take into account different parts of the country either. Don't think he's realistic sometimes.

[@tacooflove6175]

Live on 50 and pay it off in a year?

[@johnmirbach2338]

😎👌👍🖖✌😁

[@dabd8175]

Dave heard of taxes and kids?

[@alexfonseca2063]

Christy is gorgeous.

[@umairahmad4711]

Simp

[@richthepup]

@@umairahmad4711 🤣🤣🤣 why you do my man Alex like that

[@melanieb2132]

@@umairahmad4711 youll have to explain that one.

[@smartshot7568]

Because selling something that you can rent for 750-1k a month for 10k makes sense

[@briangallant5973]

Junk. Get rid of it while it’s worth something. I’ve had rentals of all kinds for 40+ years. Have it be Gone!

[@tacooflove6175]

That’s because your not including risk. Something breaks she has to fix it renters break the lease and it’s empty for awhile no renters to pay the mortgage.

[@PA-yy8vu]

He always forgets about taxes

[@rh5077]

Buy Saturna so you can retire and not be a wagie

[@cantowerhd]

$SATURNA