Why Americans Are Drowning In Debt

[@razojacqueline]

I am an American without debt but I think this is also the reason why I am so behind everyone when it comes to owning a house. Everything I have right now is mine. I don’t owe anyone a penny but this means I need to work for years or months to get what I need.

[@RyuuOujiXS]

"Everyone" doesn't own the house. Their bank does. They'll get evicted eventually.

[@amandabhandhel1388]

What do you do? My husband and I paid 60k in student loans and bought a house in cash in 4 years plus buying other stuff. I drive a truck. It's not for everyone, but you can live in the the truck and pay no bills and save a ton. By your 2nd year, you can make 100k. It's not the easiest life, but it pays well. Some states will even put you through training for free or you can learn through a trucking company, but you'll be in contract with them for about a year.

[@bw7069]

I think you did it right. Same here. Adding more debt is just throwing $ away & adding stress. I paid down almost all b4 buying a house. Lower stress and less wasted $. Also I could afford more house w/o the extra debt.

[@jeffreysetapak]

Spending billions of dollar to protect Ukrainians and Taiwanese are more important than average Americans. Hee hee hee hee hee hee 😁😁😁😁

[@chrisve1asquez]

@@RyuuOujiXS Facts

[@darnellcapriccioso]

Last year, more than 140,000 jobs were slashed from public and private tech companies as they were forced to confront rising inflation and a tumultuous stock market.

[@richardhudson1243]

@@tatianastarcic that's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well.

[@maiadazz]

@@richardhudson1243 Found her, I wrote her an email and scheduled a call, hopefully she responds, I plan to start 2023 on a woodnote financially.

[@juanroman9265]

Who has the census count about every business? Many numbers are wrong without a proper Census Count on businesses and Money.

[@bobbyclinton3455]

I did cash hack just some days back and I got paid $20,000 in just some hours

[@702Wolfi]

Our economy drifted slowly over to a debt based economy. No saving needed to buy nice things. Banks and politicians love it. Debt slaves are easier to use and herd. Independent people are not. Why is managing a budged and basic economics not taught in public schools? Because bankers and politicians want the tax and debt cattle as dumb as possible.

[@jimmyrichards5595]

Stack PM’s, in order to keep from being sheared like a sheeple! 😄

[@shine-on-tv8082]

The globalist sold out Americans now we're in decline it's been happening for many years.

[@DeeDee-io6dy]

Wages have not kept up with annual inflation, it's said minimum wage should actually be $22 up to $26 an hour

[@user-sf9gs2pg1b]

I hate the term debt slave. Unless a gun is to your head and you have no choice, you’re no slave.

[@user-sf9gs2pg1b]

@@DeeDee-io6dy True.

[@scottarmstrong11]

Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.

[@emiliabucks33]

I think I could really use more guidance to navigate the market, it is completely overwhelming, I've liquidated most of my assets and I could really use some advice on what best to invest into.

[@monicawill5]

Your best option if you are unfamiliar with the markets is to seek advice or help from a consultant or investing coach. I know it sounds simple or generic, but talking to a consultant helped me stay afloat in the market and increase my portfolio to roughly 65% since January. For me, it's the best method to enter the market right now.

[@Johnlarry12]

please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@monicawill5]

The decision on when to pick an Adviser is a very personal one. I take guidance from ‘Carol Vivian Constable‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@Johnlarry12]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@PatrickLloyd-]

The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.

[@Nernst96]

They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.

[@PhilipDunk]

I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.

[@tonysilke]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

[@PhilipDunk]

Amber Dawn Brummit is the licensed fiduciary I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@tonysilke]

I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.

[@dougcrawford6967]

"There's no reason to panic about the state of household debt in America." Translation = It's a friggin' crisis for everyone but the banking industry.

[@eksbocks9438]

Don't forget the Real Estate "investors" too.

[@robertgworek2497]

Thus is a smart move to buy banking stocks. Don't you think?

[@ianandersen265]

The politicians in power likes high household debt. That's a reduction of the amount of debt the US government has to take on.

[@The_Savage_Wombat]

The Fed is great at protecting bank profits at the expense of the middle class. It's good to have a money monopoly running the show.

[@robertgworek2497]

@@The_Savage_Wombat Smart middle class people have banks' stocks.

[@erichkraetz2622]

The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse is near.

[@alexyoung3126]

Collapse is generous 1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them. Reckoning for participation trophies is incoming

[@joesphcu8975]

People don’t realize how bad the American economy is… it’s going to implode and collapse. Oil is looking like the previous major run up and probably peaking at 140-150

[@lawerencemiller9720]

Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy. The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $250k is down to $192k any recommendation;s to scale up my return;s during this crash will be highly appreciated.

[@stephaniestella213]

@@checkforme234 that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you.

[@checkforme234]

@@stephaniestella213 You can easily look her up, she has years of financial market experience.

[@checkforme234]

Inflation is causing a lot of issue in the world ranging from food shortages, diesel fuel and heating fuel shortages, baby formula shortage, shortage of and price of available cars, the price of housing. It's all coming together and could lead to real disaster.

[@kimyoung8414]

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income.

[@alexyoung3126]

Consider the Economy as One Huge Engine that Produces the Life Styles that Humans live & Prosper & create a Healthy Financially secure future for their Families . Corruption, Manipulation , creation of Unhealthy Political Policy & Diplomatic Environments is a recipe for Engine Failure. People are equally losing money in the financial market in the midst of all these.

[@joesphcu8975]

@@alexyoung3126 I wish people can see this from this perspective sooner than later. things are really going south and everybody is acting cool. How can i reach this advisor?

[@alexyoung3126]

@@joesphcu8975 My advisor is "Eileen Ruth Sparks" You can easily look her up, she has years of financial market experience.

[@lawerencemiller9720]

@@alexyoung3126 Thank you for this referral! i just looked her up and sent a message hoping she gets back to me

[@oneiljerry9460]

America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..

[@alexyoung3126]

Collapse is generous 1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them. Reckoning for participation trophies is incoming.

[@joesphcu8975]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@kimyoung8414]

@@joesphcu8975 Hi Mate, please how can i reach this CFA of yours?

[@joesphcu8975]

I personally work with ''EILEEN RUTH SPARKS'' she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.

[@kimyoung8414]

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing

[@alohatraveler]

this woman is a horrible example on how to deal with debt. Her lifestyle is a roadmap on how to stay trapped in debt forever. Instead of saving and paying off her debt like the rest of us had to, she's adding to her debt and complaining about the consequences. She shouldn't be featured on a story like this as a victim. She's a social worker. Pay the debt you incurred and live within your means. I don't understand why so many women get these masters degrees in areas that don't pay high salaries and then live like they make a lot more than they actually do. Stop adding to your debt while having high loans. Pay them off first! The government can't save you. Save yourself and take responsibility for your actions. Learn how to save and be responsible, not live outside your means and hope the government will save you from your bad behavior. Very misleading story from CNBC, suggesting that people don't have alternatives to adding huge amounts of debt. They do. Our societies do a terrible job of educating youth on how money and debt actually work.

[@costco_pizza]

The sad truth is a lot of people just like her are struggling through no fault of their own. We are suffering and have no idea where their next meal is coming from. I have no idea how we will get through this.

[@Bmwstephen]

That debt better include her mortgage. Otherwise this is the problem with these joke degrees like a masters in social work.

[@RyanUptonInnovator]

It is ok, she can use her divorce to pay off her debt.

[@youtubewatcher3467]

Government and bankers don't like your answer because you point out the most critical point.

[@deepbludude4697]

Yep!

[@nickg2561]

Omg this womans perspective/attitude towards money is the reason the country is in a crisis. If people think they are entitled to spend and do whatever they want instead of working and saving and sacrificing then we are efed. Entitlement to Instant gratification

[@dwadeidol]

I agree with you. We need Dave Ramsey here

[@dominicmcmichan5912]

Shes literally buying a $10,000 car like she can get a second hand one that works fine for $4,000. Shes lucky with what she has

[@willielimsgful]

The lady is especially woke minded. Elizabeth Warren 2.0. zero financial sense. Spend and spend, what a financial idiot

[@curlyb4c95]

@@dominicmcmichan5912 My sentiments exactly. In her situation, I would have bought a very good used car for cash, then she would not have THAT to worry about. Fun fact: I will NEVER buy a brand new car again. I see that hustle. Buy good, used for cash. I have friends that do what she did; now they walk around like a deer in headlights trying to figure out when the other shoe will drop concerning their jobs. I could care less what anyone thinks of my frugalness. Never did. Never will. 💯

[@efdeecue]

@@dominicmcmichan5912 Are you joking? The used car market is in a massive shortage. My 2017 Civic sells for more today than I paid for it in 2018.

[@kortyEdna825]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@brucemichelle5689.]

as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

[@PatrickFitzgerald-cx6io]

Agreed the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around $300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

[@Pamela.jess.245]

this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

[@PatrickFitzgerald-cx6io]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@Pamela.jess.245]

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@darex0827]

Financial illiteracy, easy debt and the whole medical thing. Add in student debt, you have a recipe for disaster.

[@breal7277]

Bingo!

[@JogBird]

its almost like the system is designed on purpose

[@IMAN7THRYLOS]

And the problem is that NOBODY teaches us on finances. Not in school, not our parents, because they don't know.

[@brandonthomas6815]

My brother used to work on Wall Street. Most Americans don't understand the system is not designed for them to succeed. Anyone in the financial industry will tell you that. It's designed to keep the %1 in power. That's why almost 70% of people in the richest country on earth live paycheck to paycheck.

[@ronnelacido1711]

Simply put, Americans has been living beyond their means buying unnecessary items in order to keep up with the Jones.

[@LuvmeRos]

The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?

[@jose2212-]

I feel like I could really need more assistance because navigating the market is so frightening to me. I've already sold off the majority of my assets, so I could use some guidance on where to put my money.

[@DennisJack-km8ho]

I hope everyone has money ready to invest at the appropriate time. Planned actions can help you secure your financial future. You still have the best chance of becoming a millionaire on the stock market.

[@RuthEvelyn-rc3bg]

Biden is not entirely responsible for whatever is going. The economy is cyclical, and things will definitely get better. The first rule of investing is to keep investing, whatever the economy is doing. That is how you make substantial gains.

[@albacus2400BC]

That's some incredible gains. How do you find a financial advisor? I've been trying to connect with one for some time now, an I don't want to work with hedge funds.

[@RuthEvelyn-rc3bg]

There are many independent advisors to choose from. But I work with Monica Shawn Marti and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.

[@susanpeterson8774]

"Should I pay off debt today or should I go embrace and enjoy the things that my beautiful city has to offer? It's not fair!" A few minutes before that, she said she had to decide whether to pay her debt or buy food and gas.

[@derek8320]

When she said that I immediately went to the comments to find this. "It's not fair", was the topping on cake.

[@jasonhoman6525]

It’s not fair lmao

[@whazzat8015]

This woman couldn't financially manage a grocery trip, great credit risk. "Should I pay off debt today or should I go embrace and enjoy the things that my beautiful city has to offer? It's not fair!" What an idiot

[@jc7453]

Stop shopping and eating out!!

[@richardwilliams1986]

With a $182,000 mortgage and $10,000 loan debt, putting money into savings at less an 1% is not a wringing decision, there's some call paying into principal.

[@talented009]

Nobody could have predicted the dollar's current state two years ago. The United States continues to make the same mistakes that have led to the dollar's current state. Thus, there is no assurance that the dollar's growth will not rise beyond initial projections.

[@Adukwulukman859]

Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival

[@DarleneMurphy774]

These are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The bigger the red candles, the bigger the green ones

[@ThomasHeintz]

It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.

[@esther.74]

Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@JohnMoore1641]

@@esther.74 Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@aa33366]

If she has $240k debt, why buy a gas guzzling car and a condo in a affluent area? It means she needs financial education more than anything else

[@jinnypie]

the condo in an affluent area is an asset. and when purchasing houses, location is #1 in that house’s appreciation, so I don’t think that was a wrong move… she owes the bank a mortgage sure, but at the end of the day if she sells the condo she’ll get that money back

[@TheBooban]

@@jinnypie thats true. She also cop habits she said, so her costs are shared. So what is she whining about? Is she just a friend of the producer and wanted to be on KZbin?

[@charlesberkeley6429]

I think you're confused. She didn't buy a car and a condo after accumulating $240k in debt. Her car loan($10k), mortgage ($182k), and student debt ($50k) make up that $240k of debt she has. She drives a Subaru Outback. Hardly a gas guzzler. I can't understand why you criticize her choice to live in an "affluent area" because her mortgage seems to indicate that it isn't a particularly affluent area. She chose to be a sociologist which almost guarantees financial struggle, and some of her thoughts about fiscal responsibility were downright childish. That said, your argument doesn't hold water one bit.

[@Tential1]

She got a masters degree for social work, and is wondering why she has debt.....

[@Tential1]

@@charlesberkeley6429 at the end of the day, she'll be perfectly fine as the asset appreciates. But, we are supposed to feel bad, and bail her out, because she has debt. They treat all debt as bad, and now, we are going to wipe the debt of people who are actually the most educated and affluent....

[@aaronvt9980]

Student loans are, generally, not good debt anymore. The interest is too high and the degree you get has been substantially devalued in the market.

[@scyntheachannel]

Unless you go into Healthcare, your gonna be hard pressed to easily make up your student debt.

[@realnapster1522]

Don’t take out loans. Get scholarship or get a campus job. That’s the only way to avoid debt.

[@jonnyfendi2003]

Yes. You can go to a community college, get your RN license in 2 years and make $80+ an hour especially as a travel nurse.

[@AS-wd5et]

@@jonnyfendi2003 those days of good travel pay are gone.

[@themonsterwithin4000]

@D Sandie STEM, math, and finance or nothing.

[@ppj845]

They are not even talking about most obvious cause - Consuming beyond your means? You are struggling paying off student debt and when payment freezes, the first thing you think of is to buy a car that you can’t afford and buy an apt you can’t afford?

[@Dr.HouseMD]

The avg new car is over $40,000 now. Used cars are cost more now than in recent history. A beater is the price of yesteryears new car.

[@jamesnguyen7069]

i need my iphone though

[@kenbob1071]

If you listen, it said the car was an unexpected purchase and that she finally was able to pay off her old car. That would likely indicate that her old car was on its last legs and died unexpectedly --forcing her to get another one to get around.

[@alexandervlaescu9901]

@Anderson Outdoors An old car (really old not 2-4 years) is never worth repairing. After a certain point the car would cost more to repair than to buy a cheap second hand car. For example my aunt never serviced her old car. At the moment if she tries to repair it fully it would cost way too much than to buy a similar second hand one. Though properly maintaining the car could have reduced the total cost of repairs but it would still be more expensive than buying a second hand one. That is why second hand cars are really really expensive these days. Some are almost as expensive as brand new ones. This happens because most people would prefer to buy a second hand car for a smaller price , use it for a couple years and then proceed to sell and buy a new one. On the same note people like to "lease" cars.

[@ericcymbolin6854]

@@Dr.HouseMD I bought a Nissan Sentra with 4k miles on it for 19k

[@KacieLehman]

With around $120k invested in Palantir stocks, any suggestions for additional stocks to diversify across various markets? Looking for a well-rounded portfolio that balances risk aversion with returns meeting yearly inflation concerns.

[@MelindaMatsuda]

Prioritize two goals: strategically buy stocks to limit losses and maximize gains, and be prepared to capitalize on market shifts. Consult a financial advisor or professional for personalized guidance.

[@ShellyHuerta]

@@MelindaMatsuda Certainly, I've been consulting with a Certified Financial Planner (CFP) since the outbreak. Beginning with an initial fund of $80k, my advisor makes decisions on when to enter and exit positions in my portfolio, which has now expanded to around $350k.

[@KacieLehman]

@@ShellyHuerta Please can you leave the info of your investment advisor here? I’m in dire need of one.

[@ShellyHuerta]

@@KacieLehman Victoria Carmen Santaella is the licensed advisor I use. Just search the name. You’ll find the necessary details to work with to set up an appointment.

[@KacieLehman]

@@ShellyHuerta I will give this a look, thanks a bunch for sharing.

[@user1952-e4g]

As a former BK attorney, I must inject a thought re: auto loans. If you cannot afford to pay the vehicle within 4 years, you cannot afford it and should buy something less expensive. Never roll negative loan balances into new loans. 6-10 yr loans should be banned by law. Also, in my experience, divorce, job loss/severe hours or pay reduction, overspending with credit loans, and unexpected disability were greater drivers of personal bankruptcy filings than pure medical debt per se.

[@cgasucks]

I love Whoppers too! How many lawsuits did you have against McDonald's?

[@Rico401Prov]

I wish I would’ve seen your comment before trading in my 2013 Ford Focus hatchback that I only had $5k left on for a newer Corolla with the added negative equity loan. I did that so I could have a reliable car to get me across the country for my new job but looking back on it, 8 months later…that’s one of the dumbest decisions I’ve ever made in my life!

[@binxthekitty54]

@@Rico401Prov Just a question, but that honda wasn't reliable?

[@Rico401Prov]

@@binxthekitty54 it was a focus lol thanks for reminding me and sorry about the confusion haha if I had a Honda, I wouldn’t even had entertained trading it in lol

[@binxthekitty54]

@@Rico401Prov OH got it lol. Yeah, the focus is 💩. The corolla will last you for sure. Had one for 20+ years.

[@roy2495]

First rule, never spend more than what you can afford otherwise you'll be trapped in debt. This is true for majority of Americans. They live on credit!

[@TheOdek1974]

Yup, just to finance their lifestyle they rely on stupid credit scores, rather than live in basics. I have no sympathy for those people, let them suffer their stupidity.

[@suteerap9286]

Yes! Don’t ever spend more than what u can afford

[@pitt5674]

👎👎

[@wilsonbill5533]

Amen. Personal budgeting and finance should be a required course in high school .

[@davidkennedy8929]

I suspect many people buy things they think they need when in fact it’s just things they WANT, the two things are different but some people can’t see the difference!

[@don-b1o]

That woman that they interviewed was incredibly out of touch. "No body should have to choose between doing the things that they want and paying off debt". If she would have taken even a single economics class instead of spending tens of thousands of dollars on a degree that doesn't off much job prospects she would have a much better understanding of the way the world works.

[@iFrostNight]

Its not even her degree, she got a good degree but in a criminally underfunded area, its that she took the money she got back during the pandemic and decided to buy a $200k frickin condo.

[@emman100]

Agreed! She is so out fo touch. I was cringing so hard listening to her. 😬

[@bonniegaither3994]

Yes, I agree, she was a bad example, on the other hand, a lot of careers REQUIRE a Bachelors and/or Masters degree. It’s a catch-22. We need Social workers, mental health workers that all require degrees unfortunately, those jobs don’t pay a lot. So, what is the answer? Stop making education for profit.

[@boomboominroom]

@@iFrostNight I chuckled at that too. $200k condo? 😂😂

[@sierrasouthwell9237]

She said she had $10,000 left of debt on her car. My entire vehicle was $10K. I think student debt and other debt are major issues but it seems like her issue is more living above her means.

[@Natalieneptune469]

The Treasury have to sell Bonds to cover the trade imbalance and the government spending imbalance. In order to sell them they have to raise interest rates and the old long-term, low risk, low interest, AAA investments (including Treasury Bonds), held by the banks (often due to government regulatory policy), become next to worthless. The next milestone is the 15th when the government issue a new batch of Bonds. I have approximately 350k stagnant in my portfolio that needs growth. What is the best way to take advantage of this downturn?

[@SilvesterMiles-y4j]

That’s right! Downturns provide plenty of opportunities for regular people to build wealth from the scratch. However, you may need to get some professional advice from an Investment planner if you need an aggressive return.

[@VeronicaOlivers]

In the world of finance, recessions are prime opportunities for wealth creation. When my portfolio suffered a significant loss in April of last year, I realized the need to enlist the expertise of a financial consultant. With her guidance, I have not only recovered from my losses but also generated a profit of 250k. The knowledge and skills I have acquired through this experience have been invaluable in my journey towards financial success.

[@Natalieneptune469]

Please can you leave the info of your invstment analyst here? I need such luck lol

[@VeronicaOlivers]

Deborah Jean Dykstra is my analyst. She is a genius when it comes to diversifying her holdings. You can verify her identity for yourself by looking her up online. She is well knowledgeable about the financial markets.

[@BenjaminMcLeod815]

Upon conducting a comprehensive search, I discovered that her complete name occupied the highest position in my search results. I express my gratitude for this valuable information, and it is genuinely appreciated.

[@bernadofelix]

The most important thing that should be on everyone's mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in various stocks, Gold, silver and digital currencies. I never imagined that a few thousand dollars per month would add up. However, it is. I've made around $870,000 since 2020.

[@nicolasbenson009]

Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@SandraDave.]

Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@nicolasbenson009]

I would like to commend Margaret Johnson Arndt, a distinguished portfolio manager highly regarded for her remarkable expertise. Her reputation holds significant recognition, and you can effortlessly delve deeper into her background by conducting online research.

[@PatienceWilson-xp2yh]

Hello dear friend

[@PatienceWilson-xp2yh]

Can I get your email

[@personalfinance2000]

*Takes on massive loads of debt* "I wish I could enjoy my life and not have to worry about money" ...The sense of entitlement in America is insane

[@feedweeb8856]

"it's not fair"

[@donnairn3419]

If I want all this stuff eventually I have to pay for it. If you cant afford it now can you afford to pay the price plus all the fees and interest?

[@kathygarner8897]

@@feedweeb8856 She must not realize that some people wake up every morning, and instead of wondering if they can "enjoy their city", they wonder if they can eat that day. What an entitled princess she is.

[@eile4219]

Borrow 200k to buy a condo when you have hard time paying the debt. They have nobody, but themself to blame.

[@Yentiiiii]

I think it's a logical response to living in a time where basic comforts and the comforts of your childhood -- the ones you were promised growing up-- are increasingly unattainable and won't be for your entire lifetime. I see quite a few young people deciding that if no matter what I do, the statistical likelihood of me being able to ever afford a vacation or nice dinner is low -- I'm going to take out credit so I can experience these things in my lifetime before I die. I don't think it's whiny for people to want to aspire not to struggle their entire lives. Many people in other countries like Finland and Germany don't have to choose between a high standard of living and high debt because their societies don't force them to have debt. Since 1989 , when credit scores were created, Americans must maintain debt in order to be able to get any kind of loan. And most people will need a loan unless they were born with parental donors giving seed money lol

[@CameronFussner]

Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.

[@fadhshf]

Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .

[@hasede-lg9hj]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 1.8million.

[@lowcostfresh2266]

@@hasede-lg9hj I just started a few months back, I'm going for long term, I'm still trying to wrap my head around it, who’s this advisor you work with?

[@lowcostfresh2266]

I just started a few months back, I'm going for long term, I'm still trying to wrap my head around it, who’s this advisor you work with?

[@hasede-lg9hj]

When Annette Marie Holt is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.

[@micheallancelot]

A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k

[@lindholmlille]

The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits.

[@jetkastrokdova]

@@lindholmlille in my opinion, the impact of the rise or fall of the U.S. dollar on investments is multi-faceted but learning how to grow your money has never been easier than now that you can explore and experience a truly diverse marketplace passively by using a well-performing portfolio-advisor.

[@margaritasbunny]

@@jetkastrokdova I agree, having a portfolio-advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020, I was really having inveesting nightmare prior touching base with a license portfolio-advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.

[@leonarodwell]

@@margaritasbunny Inflation is over 8%. The stock market is down 20% this year. Keeping my money in bank could be no good but investing is riskier, I wish to find better value deals as asset prices keep decreasing but lack the skillset, mind if I look up your advisor? I admit this is the only way for amateurs like mys

[@margaritasbunny]

@@leonarodwell >My Financial Advisor is CHARLOTTE ANNE MCCONELL. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.

[@9RE4TH3RM1T]

Goddamn, she's social worker and she's living a lavish lifestyle. Most social workers I know are living within their means to keep their debt low. This woman is living like she's making $100K when she's barely making $60K!

[@PersistentPatriot]

this is the typical white liberal woman circa 2022

[@davisholman8149]

She was stupid enough to go into a field where she knew the pay was not very much. I have no sympathy for her - the world doesn’t owe her a damn thing!😡

[@Bud131]

Yep. Financially illiterate.

[@diamxnd8364]

She drives a used Subaru. She really isn’t though

[@9RE4TH3RM1T]

@@diamxnd8364 Because she put most of her loans into her mortgage and expensive lifestyle.

[@eilois]

there's three way to live in U.S 1. Be financially responsible 2. Have debt 3. Stole stuff

[@Jimmy_Jones]

Get bribes and change the rules

[@tskuan32]

4. Trade with Pelosi and get wrecked

[@ellen5603]

4. Follow Nancy Pelosi's stock picks

[@hchung4576]

@@ellen5603 Indeed...she/her hubby have done better than Warren Buffet! Woo-hoo!

[@ellen5603]

@@hchung4576 Just lucky I guess lol

[@igor7525]

“I have to decide between going out and having fun or paying off debt… I shouldn’t have to do that” lol… isn’t this like every adult decision

[@byronwilliams7977]

agreed, however I don't see how she is in debt 240K for a social work

[@kadencollins]

Honestly that lady is unbelievably out of touch, she needs to go touch grass.

[@James-ze6ie]

Totally agree. Education is an investment in your future. If the debt you take for education doesn't qualify you for a job that will net more than paying your debt it's not worth it.

[@monkeylipspoopflinger3397]

I wouldn't hire her to run a daycare.

[@tonioinverness]

That caught my ear too. Also, right at the end of the sentence she adds: "That's not fair." I thought that was a really weird (and immature) way to describe a normal adult decision.

[@TheAb9211]

The problem is the system of “enjoy now and pay later”. It is ingrained in the American society because the credit scoring system incentivizes spending and not saving money. The culture of not saving is also the issue and the whole system of student loans is extremely broken. All these things combined results in increasing debt and increasing spending. This fuels the economy until a wrench blocks the system such as covid or recession. Just increasing wages, will not fix this. PS: This is an opinion and can be incorrect.

[@bmw803]

Good point, but despite all that, a person has the choice of refusing this model and if the vast majority does, they will stop this practice. So, at the end, we shoot ourselves in the foot.

[@DB-bw5fz]

It’s similar in Canada as well. Something as simple as using a credit card for specific daily purchases (ie gas, cell phone, internet etc..)you would otherwise pay cash for, then paying the balance in full by the due date will help contribute to fantastic credit, without actually carrying debt, or paying interest. Of course, this can take a lot of discipline, which not everyone will have, but its a quick and free way of doing it.

[@JacobPAus]

It's completely the truth

[@patriciaramirez3139]

YOU ARE CORRECT, INCREASING WAGES WILL NOT FIX THE PROBLEM BECAUSE PEOPLE ARE ACCUSTOMED TO SPEND MORE THAN WHAT THEY MAKE. PEOPLE ARE ACCOSTUMED TO BE IN DEBT, CONTINUOUSLY BUYING UNNECESARY THINGS, STUFF. IS ENGRAINED IN THEIR BRAIN TO BUY, BUY, BUY, AND UNLESS PEOPLE BRAKE THE CYCLE AND STOP BUYING SO MUCH STUFF, IT WILL NOT STOP.

[@danieldylan1273]

Maybe people would save more if banks paid decent interest on savings. They used to pay 5%. Now it's only.1% . At 5% you made $5 a year on a $100 deposit. Now at .1% you make 10 cents interest.

[@CryptoUno]

The chick with the masters degree looks like she didn’t spare any expense getting what she wants . Just based off face value . Her home looks super well furnished, I’m not saying that would make a dent in her debt , but don’t complain about money and clearly you’re out here spending , spending , spending

[@5150bwagner]

Totally agree. I don't think anyone forced her to buy an Apple watch either :)

[@Brucesalarski]

That house is totally yuppiefied lol

[@beckypetersen2680]

It's a simple - she is buying more than she can afford. Saying "It's not fair to have to make a choice of paying off debt or enjoying my city" is such an immature response, I am flabbergasted. Maybe I shouldn't be. She's obviously bought into the idea that "I deserve this" that the ads have been pumping out in ads for decades now.

[@victorwang8623]

you know she spends 5 bucks on starbucks every morning and we should feel sorry for her lol get outta here

[@UnHellTowers]

Right

[@mitchdogstudios]

We can place some blame on services like Affirm that came out of nowhere during the pandemic for this. You should see how many teens and young adults have started accuing tons of debt now using those services. Combined with materialism it's a bad combination

[@lisahenry463]

Affirm has been around years prior to the pandemic 2012. I have used them several times since 2013. It’s unfair to blame affirm or afterpay because people need to be more responsible and know what they can afford to repay. Things happen but consumers need to take responsibility instead of pointing the blame fingers elsewhere

[@Tential1]

Uh.... No one forces you to use affirm. It literally says 5 easy payments. If something like affirm confuses you, you're of no societal use anyway as you have zero critical thinking skills.

[@Zachery_]

If used incorrectly any borrowing of money can be bad, if you’re smart about it then it can be good, inflation is going up so it could be better to borrow if you can get 0% interest, but I’ve never borrowed money for anything except my house, as smart is it might be in particular situations (car), I prefer peace of mind

[@sten260]

it's fine ,it was their decision now they have to suffer a decade to pay that thing off. If you make bad life decisions there are consequences

[@kstar1956]

I don’t necessarily blame those services. No different than stores and using lay-a-away. They can be useful and helpful for some people if used responsibly like any other form of credit but if someone just goes bananas racking up more then they can handle it’s on them. Changes to the credit reporting system will start to include these services at the new year so a lot of folks will be taking some hits on their credit score.

[@nicknoh]

Telling people to budget or spend less than they make is like telling people to eat healthy and exercise.

[@firstlast8258]

Eating healthy can be very expensive

[@ClosedCurtainFilms]

How? A kilogram of rice, or apples, or chicken, or any food really is unbelievably cheap. Certainly not more expensive than McDonalds or pre-prepared processed foods from stores anyway

[@firstlast8258]

@@ClosedCurtainFilms “can be”

[@ClosedCurtainFilms]

@@firstlast8258 I asked for an explanation, because someone who espouses the idea that its too expensive to try seems to just be looking for excuses, rather than basing their decision off of actual solid reasoning. I'm asking for a proper explanation because from what I can see there isn't one, other than laziness

[@1pearblossom]

A lot of people cook at home regardless of socioeconomic background. If people cannot generalize rich people, there should not be a reason to generalize poor people.

[@bobbymainz1160]

I recently purchased some ETFs. Saving for a market fall is also a bad idea. There are different perspectives on recessions and depressions; we cannot always expect significant rewards; and taking risks is preferable to doing nothing. The bottom line is that by diversifying your portfolio and making sensible judgments, you will accomplish exceptional outcomes. In 2022, my portfolio returned $608,500.

[@kimyoung8414]

Time in market beats market timing. Some people think they can view investing as a get-rich-quick scheme, but it doesn't quite work that way. It's a long-term commitment.

[@stephaniestella213]

It's not difficult, but you have to learn and manage. Another thing is that if you can't manage your home, maybe you shouldn't invest on your own. If so, you should hire a CFP to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows, rather than betting on penny stocks.

[@kimyoung8414]

@Zahair O'Brian Bravo! How does one locate such an astounding investment Advisor? I'm semi-retired and would undoubtedly want first-class management on a much larger portfolio since i want to leave my personal estate for my kids & grand-babies; I don't want to take chances given the volatility of market movement, so could you please refer me to yours?

[@stephaniestella213]

@Zahair O'Brian This is useful information; I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

[@eara8426]

SCAM!

[@kstar1956]

So instead of trying to knock the debt out while on pause she’s out here spending more🙄 she’s such a horrible example but there’s a lot of people like her😐

[@77jaycube69]

But is she really though. What if she actually is the "Average" American. I don't know the answer to that but it's something worth looking into.

[@curlyb4c95]

@@77jaycube69 I just think people are used to living above their means; trying to impress people who could care less about them. I’m black and see it in the community like you would not believe. Buying or leasing a Mercedes or expensive car, but renting an apartment. The Benz is parked on the street or in a carport because they don’t even have a garage for it! The lashes, the nails, bundles of fake hair, the expensive clothes and shoes, eating out for breakfast, lunch and dinner. This is stuff I see people are doing that I know. And they always say “you’re so cheap”; “you need a better car”. But, the only bill I have is my little house I bought being so cheap. Their either with their mama, partners or with relatives. But are they saving for a rainy day? Of course not! They are out there spend, spend, spend!No savings WHATSOEVER. NOW, they are scratching their heads trying to figure out “what happened?” Oh, and I forgot, bragging about all these exotic trips they have taken, but have yet to pay for. I travel, too. But all my trips are paid in full. No CC debt whatsoever. Planning. That’s what my parents taught me. Guess it’s not for everyone. 🙄

[@kstar1956]

@@curlyb4c95 it’s not just the black community but I know what you mean. Unfortunately debt has become the American way! People live off of credit cards and the numbers clearly show it. Like you said people are simple living above their means whether it’s to impress other people or it’s just the way they live like every one else around them. I worked for a CU and the number of delinquencies I’d see with all these fancy cars was crazy, I couldn’t believe it and they were in “well to do” neighborhoods but now when I see one I’m like umm hmm is that Range on the verge of repo😂 I’m personally on my debt free journey but when I talk about it with other people I know it’s like I’m speaking another language as if they can’t fathom the thought of living without debt.

[@kstar1956]

@@77jaycube69 that’s it, I think she is probably closer to the avg American as far as behavior. Americans have become so dependent on credit cards and debt is just a way of life. I’m so glad I’m not average. My parents, especially my mom taught me from a young age about budgeting and I’m on my debt free journey😁

[@curlyb4c95]

@@kstar1956 I hear you. Keep going. Freedom is fun.

[@carrowxhex6891]

Lesson 1) Buy what you need not what you think you deserve.

[@ASMRyouVEGANyet]

People need cars and a place to live. People need clothes and food. And guess what, not everyone can afford those things, that's where loans come into play.

[@mocheen4837]

Maybe people do not need to buy $80,000 cars to drive around in unless they can afford them. I see the car wash guy at BMW driving around in a $80,000 M3. He was showing it to me and telling me how all of his money goes to the car. He likes how people admire his car when he pulls up to the club. Yet he drives home to his parents house and parks it in the street. I see people driving around in luxury vehicles all over the Bay Area. I just assume that everybody is making $400,000 plus per year.

[@carrowxhex6891]

@@mocheen4837 I know it’s only going to get worse with this soft AF younger generation and their co dependent/ do it for them parents. They won’t ever fly the nest but they will have their parents house stuffed with every tech toy a person could want.

[@jameserickson25]

Love your comment.

[@jameserickson25]

There is public transportation, goodwill for clothes and food banks to eat. You do not need a loan for these things. Concerning rent, if you need a loan to pay your rent every month then you can’t afford to live there. Get a roommate, downgrade to a less expensive apartment or get a job or second job to pay for rent. You do not take out a loan to pay rent. Never heard of that before. Tell the loan officer you need a loan to pay the rent and he will deny the loan because obviously monthly expenses are bigger than monthly income so you are unable to pay the loan back. Denied. Be humble. A loan is not an entitlement!

[@carlosr6597]

Did she really say it's not fair that she has to choose between enjoying what her cities has to offer and paying off her debt? Wow, that tells you all you need to know about their decision in taking on more debt

[@skankhunt3624]

Yeah you're right, she should just accept her role as a modern slave. I mean we all know life's about corporate profit, and not about people living it.

[@robertsanders7060]

The Karen suffering in this nation is truly terrible. She also has trouble being able to afford a new $70,000 car!

[@carlosr6597]

@@skankhunt3624 calling her a modern slave is a disgusting insults to the actual slaves that endured backbreaking labor for no pay

[@firstlast8258]

@@robertsanders7060 just ask karen rodgers

[@anthropotron]

We’re supposed to work to live, not live to work

[@Alejandracamacho357]

I personally cleared $230k of debt going aggressive in the other markets. Right now the markets are crazy but there are still hidden opportunities therein. Having monitored my portfolio performance return huge six figures from the last 2 quarters of last year, I have learned why the market will remain a money den for those who know where to look.

[@NancyFranciss]

The markets are been propped up by the FED printing money with NO limit. Every time the Market blips down the FED dumps cash into the dip. Tbh I'm in need of a good investment plan currently, I have a lump sum of $100k+ in a savings account yielding next to nothing

[@Christine-ce4xo]

Starting out with a with a professional that knows the ropes of the choppy but profitable market is the best way to achieve getting a well structured portfolio. That’s why I have been working with ‘' Deborah Jean Dykstra’ and that doesn’t make me daft because in financial dealings one have to be prudent. Most traders enter exit with a quick 10% profit which is not bad in a general opinion but why not aim higher, it doesn’t necessarily mean to be greedy.

[@NancyFranciss]

@@Christine-ce4xo this is good, how do i find your F/A?

[@PhilipMurray251]

@@Christine-ce4xo Out of curiosity, I Looked up Deborah and her webpage popped up immediately, interesting stuff so far, written her.

[@Christine-ce4xo]

@@NancyFranciss she has a web page>

[@kamilareeder1493]

People out here are drowning in medical debt after injuries or cancer through no fault of their own. But they picked this woman as an example ☝️😪😭 stupid. Like there IS a problem With high cost of living that is driving debt. But using this woman as am example derails a very important discussion

[@skankhunt3624]

Because conservatives don't feel that medical treatment is a right, even though it's right there in the Constitution.

[@emman100]

Yeah. When she was talking about choosing between having fun and paying debt, I was cringing so hard. 😬

[@BurdenofTheMighty]

@@skankhunt3624 because conservatives know we are already over 30 Trillion dollars in debt and Biden keeps the printing press running white hot

[@ashutoshyadav7385]

@@skankhunt3624 medical treatment is free in USA

[@mintclover-kg2if]

@@skankhunt3624 where do you see that?

[@madbug1965]

I drive a 2005 Toyota Camry with a cracked windshield and a small dent in the rear fender. I have zero debt and outright own two houses.

[@chiquita683]

You don't own land, you rent it from the government

[@travisspazz1624]

Yeah there's so many people that value cars over houses for some reason.

[@dimediamond]

♥

[@RAWALERTS]

@@travisspazz1624 Not saying I value cars over homes but you can be seen in cars not homes. Nice cars turn heads and fuel the ego humans especially men naturally have

[@SOUVIK_RAY_]

I mean you could fix the cracked windshield and the little dent.

[@acrobizer1238]

So she is debating whether to pay debt or do things that my beautiful city has to offer? Are you kidding me? I guess her bachelor’s and master’s degree never gave any classes in self control.

[@emman100]

Yeah, I was cringing so hard listening to her. She must have been raised expecting to always have those things.

[@loljk9443]

It’s incredible isn’t it?

[@lour9348]

It's as if she doesn't realize that it is she alone who signed on the contract bottom line and now she wants to claim poor me ... no lady your debts are the result of your choices.

[@benjaminanderson5176]

exactly! disgusting how entitled people are and the lack of responsibility.

[@teng029]

exactly..

[@boston312]

Is it really a mystery why the younger generations dont want to get married, have kids, start a family and work a career? Sometimes the only way to win is by not playing.

[@4Frmcfofficial]

Nobody wants to have kids that’s to much stress

[@jameserickson25]

😩

[@jerrypark23]

So she put a down payment on a house and bought a car and is complaining about not being able to pay off her student loans. And says that the $300/month student loan relief allowed her to breathe financially and put a down payment on the house. She really can’t save an extra $100-$300/month and/or find a job that pays $100-$300/month more? Student loans are a problem but she is financially illiterate

[@robzonefire]

Yeah she is making it harder for herself when it can be maintained.

[@cwilliams7955]

Facts…I didn’t understand her breakdown…not sure how she could even afford a condo even her circumstances

[@GnomeChomsky9999]

@@cwilliams7955 she said she's cohabitating. She's probably married. She's sounds like she's doing well actually.

[@Hdhfhhdh]

Yeah even if they forgive all student loan debt , many people including this woman would be still drowning in one form of debt because they don’t understand financial illiteracy

[@Michael-ew4pq]

She really has no idea what she did, the relief she got she should have used the savings to pay off the debt asap

[@19ebenezer77]

"pay off debt or embrace spending irresponsibly?" Lmao 🤣 Don't feel sorry for entitled people.

[@firstlast8258]

Yolo swag life

[@MeGustaWHAT]

To a degree I agree, but there are extremely predatory practices within the credit industry. Simultaneously people need to own up to their decisions and we need to reign the top in.

[@angelahalstead3261]

I feel her house is very beautiful and I know people who would get a cheaper place instead of putting themselves into more of a struggle. If you're making money during the pandemic you should have put money into those loans. save money enough to cover an emergency but you should prioritize your debts because the interest rate will eat at your salary more. though I know the social work industry has high debts high stress and low wages working for the government. I believe the government should pay for all their employees degrees. You shouldn't need a masters degree just to be under 50k a year.

[@Pinter333]

Yes, be a worker drone and spend every penny paying of interest to not live on the street. Life sure is beautiful.

[@brandon9715]

This is going to come across as cold and uncaring, which is not my intent, but people need to STOP SPENDING MORE THAN THEY MAKE. If people simply lived within their means, the debt wouldn’t be suffocating them. Learn to be content with what you have. It’s easier said than done, but you will be happier in the long run.

[@jillclarke7264]

Agreed, but when the person only makes 30k for a full time job, they can not function without loans for cars to get to work. No public transit in Michigan. What happens when you are not paid enough to live within your means and feed your family?

[@brandon9715]

@@jillclarke7264 I’m from Michigan and know people that make $30k. They own vehicles and have to commute to work. You can still buy reliable vehicles under $10,000 even in the current car market.

[@LinhHuynh-vh7xy]

why not! now the government is just going to pay for it eventually. we can be as financially irresponsible as possible

[@wyldheart777]

Medical bills can crush you.

[@ryanspinoza6586]

When I visited US, I've always found it odd but cool that there's a very strong consumer culture in the country. I used to think, "most people has to be rich enough or financially stable enough for them to be like this", and then I see countless comments and opinions everywhere especially the internet complaining about how their wages are low (when it's not imo) yet never mentions how they just bought the latest IPhone that releases... I think some people just need to live in a developing country or a 3rd world country with a 3rd world wages to learn what it means to be financially responsible, efficient, and frugal.

[@keltenbleich]

My parents told me never to make debts. They repeated this all over again and again. Today I´m a grown man and I have a car and a house, but no debts, thanks for their wise reminders: You should always save money, and then buy what you want.

[@jan2000nl]

Except of course debt is the key to how we have grown our economy and productivity. Without debt most people could not start a business. The key is figuring out the difference between good debt and bad debt. Good debt is a lever to generate more revenue.

[@rossta3949]

Your parents taught you right my friend.

[@rossta3949]

​@@jan2000nlProducts and services will always be bought. They don't need to be financed, clown shoes.

[@turtleanton6539]

Yes indeed 😮

[@Because-rt8qs]

How did you save for a house while also paying rent?

[@HappyTobeHere89]

I'm so thankfull my parents talked to me about finances and included me in some of their financial decisions (for learning purposes and adult things in general). 32 now and I've kept most of those practices. My siblings also did great. We lived below or within our means. Saved but also bought quality over quantity when needed. If I cant afford it right out I don't need it. I've been blessed to not have major health issues, a job i love that pays well and better than my friends with degress (Hairstylist here) and I'm working on the rest of my student loans. I've tighten my budget recently to meet my goals. That cup of coffee I had regularly as a treat is now once in a blue moon. Cook more at home, its healthier and taste better. Its crazy because as a hairtystlist my pay actually goes up with the cost of things plus skills but not my friends who work elsewhere. The same ppl that looked down on me for leaving college to pursue what I want are seeing me build and thrive. I thank God for this life. I ONLY use my credit card to build my credit. Spend 10% of it and pay it EVERY month. We don't need everything we "want".

[@economicdevelopmentplannin8715]

Hopefully we can teach more young people to get jobs and payoff a bedroom bathroom suite asap and as early in life as possible. Then marry someone similar and make babies to teach them how to replicate this. Parenting is the most underrated profession in the US.

[@shae1005]

This!! I didn’t have the privilege of learning these things as a child. I did the things that are considered successful: graduated college, got married, bought a house, and worked a full time job. All by the time that I was 20. My husband and I had to learn during those early years how to manage money and leverage debt. Now, 15 years later, we are not debt free but we use debt as a tool to build wealth. We have had seasons where we were debt free but we also have seasons where we leverage debt to invest in ourselves (schooling, trainings, travel, etc) and expand our property ownership.

[@muzerhythm2242]

Your one of the TRUE everyday examples of being wise with your money!🎆😁 I'm greatful as well that my dad taught me the same with budgeting. And he showed by example on not buying the Newest Great things out there....but to wait...save up and pay in cash. Credit cards were only used for emergencies: Fridge died, car repairs, medical not covered by insurance.

[@poopface011]

I turned out fine but I wish my parents had shared more details about their finances when I was a kid, decisions that helped / hurt etc.. I know it would have improved my motivation to work harder in school with a clearer picture of the adult grind. Because it was such a secret I grew up with this unshakable feeling that money basically grew on trees, and I think this is the mindset a lot of young adults are stuck in today.

[@bellyfilled887]

Biden, the wimp, created all these by sending billions to Ukraine. What Ukrainians got to do with American people. It' makes me nuts. MAGA!😀

[@james.walkerUSA]

Picked the wrong person to use as a case study. She is living at a lifestyle that those of us without debt wouldn't even dream of.

[@ritalinkidsonritalin]

Why is it that @CNBC uses upper middle class people who make extraordinarily dumb financial decisions while living extravagantly, in their documentaries?

[@karynm3365]

In order to not drown in debt, it's pretty obvious to never acquire debt in the first place except for a mortgage. I drive a 17 year old Prius, live below my means and pay cash for everything. If I don't have the cash- I don't buy it! Our 30 year mortgage was paid off in 12 years by paying extra every month. Yes, it takes sacrifice and diligence but it's so worth it to have no debt!

[@walnutsandbeastiality866]

As someone from Hungary, Eastern Europe (which really is a post-communist sh**hole, pardon my French) I'd give up literally anything and everything I own just to move to the United States... everything! And here I hear about Americans struggling, also while living in the best possible country a person could ever ask the Gods to be born in: it really pi**es me off to no end I'm the same as you Karyn, never bought anything I couldn't afford, and always had money saved in various ways, but it's nothing compared to what I could earn there, and yet the gates are closed for us "third world people" This is what's wrong with this world

[@J_a_s_o_n]

DISCIPLINE!👌

[@Jacob-ec6st]

I bought a house beginning of 2021. The mortgage is about a quarter of my monthly take home pay, well below my means. I need to buy a truck soon but I'm looking into used in the 10k range vs these 50-60k trucks that are so common now. Buy everything on my credit card so I can earn the points and then pay it off immediately. If I don't have the real money to buy something, I don't. Too many people nowadays buy things they don't need and can't afford with money that they don't have.

[@Mountainrock70]

Yeah, but you drive a Prius LMAO. But seriously, some people were fine with a good amount of money left over each month, say $1000. But now with fuel and food prices sky high, they are negative as much as $1500.

[@nadiaaguirre9466]

What’s wrong with a Prius? She’s a homeowner!🥳

[@AddilynTuffin]

Debt sucks a$$, but a college degree is worth it IME vs the alternative. A lot does have to do with the career and degree obviously (Philosophy vs. Engineering degrees) and ability to get a salary to pay back loans. I had been struggling with debt for years. Those credit card companies really get you in college when you think you know a lot but really don't know crap. My only debt TODAY is around $100,000 left on our mortgage but that is because we live VERY frugally. Which is why I'm looking to enter the market now and ride along as the economy gets. Building a $550k portfolio. Any stock recommendation?

[@albacus2400BC]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@albacus2400BC]

My adviser is “Sharon Louise Count” You can easily look her up. She has years of financial market experience and she is also FINRA & SEC verifiable.

[@jasonsaeger]

Enron.

[@user-Xlostmethod]

I dual major. One major for my enjoyment and one major to get a job. It did work but I took a "different punishment". I guess it was worth it overall though there were some regret.

[@victorkreitner754]

I was approached in college back in 1989 when Discover was launching their credit card to students. 1989 is a long time ago. I've had that card going on 35 years and through all the credit increases and temptations not once paid a penny of interest, paying off the balance every month. As for college debt, none, worked my way through college, got the degree, and had no debt. That's the way it should be for young people today over being stressed and raked over the coals by creditors.

[@shubashuba9209]

"Should I pay off debt today or should I go embrace and enjoy the things that my beautiful city has to offer?" Now imagine a man said that about his child support payments. These type of people should not be trusted with loans or credit cards.

[@demonatx]

That was my favorite line. That chick is an idiot

[@daniel.h2940]

Absolutely 💯 correct! That’s what I said at the screen when she said that!!! 🙌🏾

[@gardenjoy5223]

Oh come on. That was probably taken out of context. She is working three jobs. So she has little free time anyway. Perhaps every now and then she ought to just try to relax a little and spend just a little to get new energy out of the fun experience. You cannot run a car with a dead battery.

[@wingman31k]

@@gardenjoy5223 Dude! This lady has NEARLY A HALF MILLION DOLLARS OF DEBT! I DON'T CARE WHAT HER EXCUSE IS! NO WAY ANY MAN IN THEIR RIGHT MIND COULD EVER RATIONALLY MARRY THIS NUMBNUT! She's already a gold-digger in the making!

[@mocheen4837]

I worked 60-70 hours a week for over 28 years. No breaks or lunches and volunteered for weekends and holidays. I worked as much overtime as I could to build up my savings and purchase a house. I hardly slept and tried to be there for all of my children’s field trips and events. I lived frugally for many years.

[@thierrynolevaux9268]

The problem all started with credit cards. I was taught to save money and when you have enough for your purchase, you buy the item. Credit cards encourage you to spend and buy things when you don't have the means to pay for them. The rate that credit cards charge is also criminal. Just like a legalized loan shark.

[@loturzelrestaurant]

SOBERING Look at Infalation was done by 'Some More News'.

[@ChristianRunsNY]

There is a lot of value in a credit card for benefits and rewards, but if you don't first learn to only use it for what you have money for, it's a trap.

[@thierrynolevaux9268]

@@ChristianRunsNY Benefits and rewards? That is the trap! The more you spend, the more benefits and rewards you get. Just like an addiction...but to spend more.

[@whatscivic0157]

@@thierrynolevaux9268 credit cards are a great tool for building up credit score you just need to be mature and not go on a spending spree you cant afford instead use it to make a few small purchases a month and pay them off every month

[@TimeLessEntityT0]

The reason credit cards have a high interest rate is to protect the banks from deadbeats who don't pay their bills.

[@johncarlson6472]

I have yet to hear anyone tell me their lender said, "yes, you qualify, but you probably shouldn't borrow this much money." People don't realize (or want to) that just because you "qualify," doesn't mean you should go ahead with the transaction. IMO, "delayed gratification" is an anathema to most people today. Things would be way, way different if Americans set their lifestyles at or below their "take-home pay" instead of their "Gross pay." Lending institutions, retail businesses and the media's singular goal is to extract their pound of flesh from everyone as quickly and efficiently as possible. Never mind the eventual fallout. The fact that money-management and financial/fiscal prudence is not taught in our High Schools is tragic, but also very telling about how much of a stranglehold financial institutions, big-business and the media have on today's society.

[@FlyingKoreanMinja]

Feels like they are gatekeeping students from learning money management/household finance on purpose.

[@GBU61]

If parents would step in and explain the realities of being fiscally wise, that should be the first step. Unfortunately they are their own worst examples. My daughter recognized that she was not making wise choices with money and asked me to help. She is 21, no debt other than a car that she will pay off in only 18 months. Her savings grows each month and when tough times do come, she won’t be expecting me to bail her out.

[@johncarlson6472]

@@GBU61 You're right Parents should, but many don't. I took my ex-girlfriend's Son aside and told him about money and how to handle it. He was leaving for college and had no bank account and kept his money in his sock drawer. I took him to the bank so he could open an account. Unfortunately, his Mother (my ex-girlfriend) was horrible with money and a compulsive shopper. Sad.

[@EKAdventures51]

in canada the lenders will say, DON"T borrow, different approach than the banks in usa, I had to foreclose homes when Wells Fargo came into canada and lent money to people who could not afford it, so many sad home buyers but I had to close up the houses and put them up for auction, American Banks, stay out of canada

[@Josh-hz8vz]

BS. There are idiots out there, but the ones who get the deepest in debt are the ones with decent credit scores who are MORE than intelligent enough to know that they can’t afford it. They simply refuse to tell themselves NO

[@paulcherrytrains3339]

Debt is a worldwide problem. I'm in the UK. Similar problems here. I retired 5 years ago debt free at 60. I have seen everything from high inflation and recessions. Being debt free is the way forward to real freedom. Best wishes Paul.

[@bobbyclinton3455]

If interested in the program? I can refer you to the man who helped me with the program

[@dayanarab6874]

I’m debt free since last month the best feeling ever.

[@bobbyclinton3455]

@@dayanarab6874 Have you done bitcoin flip before. I did this in just couple of hours and I won $10,000

[@bobbyclinton3455]

Yeah, it’s a program to help people to stand in their feet and to start up a business to make a limit.

[@debrajohnson-conteh8280]

Its the best feeling in life debt free

[@Rashaadthegr8]

This why I can't get in a relationship. I can't be with someone in debt no more. I refuse . I want better for myself and for my future family .

[@GORILLA_PIMP]

Smart strong men don't ever mess with "relationships" in the first place Period

[@rickyayy]

Bingo!

[@tannedjenny]

Same.

[@lawrence1960]

Unless we were talking about debt to buy food, fuel, pay rent or pay medical costs, nobody has a gun held to their heads to take on debt. It’s just as much a cultural issue as it is an economic one.

[@yashwantmahajan1836]

Education?

[@ethantorpy7137]

We are talking about those things

[@paulwilliams2024]

No one is forcing you to enroll in school

[@jonathanmccain8646]

@@yashwantmahajan1836 Spending vast sums of money on degrees without high-paying job prospects is a mistake.

[@AlexMint]

A lot of people got into a ton of debt over the pandemic for just that. Personally I never got that pandemic unemployment everyone was so happy to use to get ahead, but I was still laid off so I got wrecked.

[@elsbithrumble6683]

10 years ago I was in debt over 200k, 85% being medical/hospital bills. I used to jump from one job to another every year to stay under the radar from garnishments. Then, I found a job that I loved and decided to just go for it. By the 2nd year, I was being garnished. I went straight to a bankruptcy attorney and got it done. 4 years later I bought my home. Bankruptcy worked wonders for me and increased the quality of my life. So, people...don't be afraid to go there.

[@SickPrid3]

fun fact: student loans are not affected by bankruptcy, they stay with you forever

[@SisyphusJP]

@@SickPrid3 thanks Joe

[@dachicagoan8185]

Between 15-5 years ago I believed the lie that "good debt" existed. Then I became financially literate and paid off my house and paid off other smaller debts. Now I own everything I have and can put more money into my retirement funds. And I have more money to enjoy life. Articles like this keep people in the dark to make them believe debt is a good thing. It never is. Over the life of the mortgage, $80k went to the bank in total interest. Money I'll never get back.

[@SisyphusJP]

@@dachicagoan8185 that’s amazing I’ve saved a incredible amount of money for a downpayment on a multifamily 2 unit or 3 in the Bronx now I realize my down payment can buy me a entire place multifamily and all in many cities throughout the country and am very conflicted

[@samobispo1527]

Deadbeats of the World…Unite!

[@tulips91]

I'm from the Philippines and I've been wondering how Americans are able to afford their lifestyle. The whole time I thought that life is simply just unfair. But I realize that everyone has the same kinds of problem no matter where you are. I guess America is just more empowered as far as borrowing money is concerned.

[@Dre2Dee2]

Pretty much. America has given women the right to borrow and women are STUPID. All they do is borrow money to buy GARBAGE. Most people who have what they have here are BROKE

[@kathleenfannin8486]

Americans have debt because they live above their means and always have. These people who are drowning in debt were already in debt before. It's a personal choice not to rely on credit cards. It's hard, but it can be done.

[@masterphoenixpraha]

indeed... not sure how it works in the US, but here in CZ the credit companies or banks or whatever have to first check if you are able to repay the loan counting all your other loans... if it's shown that you're not and they give you the credit anyway and you cannot repay it, it's on them in the end... so this made these companies more aware of how they really impact people and their lives...

[@philiphardburgerfry1085]

I would agree I see it all the time. I’m 25 and i’ve lived on my own since i was 19. Going on 7 years in debt and I own nothing. I don’t have any luxury items and i’m still struggling. I have a small family and I’m the main provider.

[@sr.handsome328]

Maybe if they all stop eating out every day they wouldn’t be in debt

[@0IIIIII]

@@basiltozer9078 debt includes mortage and car loans usually. So what’s the alternative to a mortage or car loan? Buying in cash? Not feasible for most people unless they want to be homeless, waste money renting, or walk to work.

[@datnohi8612]

Don't forget about brain washing, you can't blame all this on us Americans, how about being bombarded with commercials every time you turn on the TV or radio, I can't tell ya how many times I went out and bought crap because of some commercial playing on TV, or being told to go to college after school by teachers, they told me to pursue a degree in Art 🎨, how will I feed my family on this degree while in student loan debt

[@dogie1070]

Nice house, nice cars...nice college degree, too! I admire all the pretty things they have and fun things to do. I have no debt, no student loans, 2 bachelor degrees, 2009 Prius, live below my means, not much of an exciting life. But I have peace of mind.

[@peartfaldo]

If an expensive car and a big house mean an exciting life....thats pretty sad......

[@switchlite44]

@@peartfaldo seriously lol

[@brianping3105]

@@peartfaldo You totally missed the point, "But I have peace of mind". Please try to bone up on your reading and comprehension skills, you shall go further in life

[@jameserickson25]

Sounds like a beautiful life to me plus you have that gorgeous dog as your companion and best friend too. In my opinion, you are living the high life and it is due to all the brilliant choices you have made concerning debt or should I say lack of debt in your case. Congratulations and by your choices you have consciously made - you deserve it😉💕🎶

[@begsbegsbegs]

I can't help but have disdain for this woman. She took her 'debt relief' and irresponsibly put herself in more debt by taking a mortgage. She could have used that 'relief' to double down on paying off her 52k in student loans.

[@BLACKAAROW]

exactly! plus she got rid of the car she paid off and preceded to take out another loan for a car smh. no sympathy for her

[@suteerap9286]

Exactly! No one to be blamed but herself

[@genxx2724]

And we’re subsidizing it. This is going to cost democrats the next election.

[@williammcqueen810]

Ya because she is a Democrat pushing for student loan forgiveness so she doesn't need to pay that 🤣

[@racebannon3672]

She did exactly what rich people do. Trump is millions in debt, but he has assets. now she has an asset. rich people don't look at debt as something to be paid back, only leveraged.

[@sherry_smith_penson]

We read news in the media that doom and gloom is coming and we just accept it, doom and gloom doesn’t always have to be coming, I’ve read numerous success stories of people that are pulling off tremendous gains of up to $250K within weeks in this crazy market and I just want to learn how to achieve such figures.

[@kenanporubsky2122]

Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.

[@lipglosskitten2610]

There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.

[@angelicaaquino4109]

@Dan Brooks Impressive can you share more info?

[@angelicaaquino4109]

@Dan Brooks She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@awoundedhealer2781]

Gotta have lots of money to pull that off.

[@donnairn3419]

The first 5 minutes of my economics degree consisted of. "People have unlimited wants but limited resources" It seems that a lot of people struggle with the fact that this means you have to go without something.

[@thodan467]

I hope it was not expebsive

[@robertagren9360]

Some have unlimited resources and others have unlimited wants.

[@suntzu1409]

Fed may finally make unlimited money though Haha money printer go brrrrrrrr

[@WhatsOnMyShelf]

@@suntzu1409 The more of something there is, the less people value it. It's why people don't think about the quality and amount of water or air until there is lack of it.

[@sanbruno6010]

PEACE PROSPERITY FREE THINKING GOOD HEALTH OPTIMISM

[@Doors067]

I had an 8 months unemployment stretch I only had 6 months of savings. I went from having 9k in the bank to now owing 3k... it can happen fast. Even with layoffs in the post covid economy when you think people would understand they were so harsh "you've been unemployed since February what have you been doing since then" me: going on sporadic interviews. I told that job I wasn't interested with the way I was treated as damaged goods at the interview but found my new job I start next week.

[@SeattlePioneer]

Could be worse ---and is, for a lot of people. Get back on a program of living frugally, saving and investing in your new job ---and good luck!

[@suzanne2650]

@@SeattlePioneer not the point... She is saying that even when you DO have a well stocked emergency fund, you can still get into debt and loose your safety net in the current economic market.

[@SeattlePioneer]

@@suzanne2650 True, no doubt. But that really means that you don't have a big enough emergency fund, doesn't it? Many people spend for luxuries before they will save for emergencies. My personal bias was to live frugally, and save every nickel I could. That was often invested in the stock market or rental real estate. My favorite bit of wasteful consumption for many people is TRAVEL for pleasure. There is no better way to consumer large amounts of money in a matter of a few days. TRAVEL for pleasure is the opiate of the educated middle class, and a huge waste for most people. I regard such TRAVEL as conspicuous consumption, with it's main purpose to impress other people (and yourself) with how much time and money you can afford to waste.

[@jameserickson25]

First off, congratulations on your new job! Secondly, I want to commend you that you were thoughtful and smart enough to build an emergency fund to help you through your unemployment stint. I also love the fact you stuck to your guns and wouldn’t take a job due to their rude and inappropriate comments they made to you on the interview. I think it was easier for you to respond that way to your potential new employer because you were not desperate because you had that emergency fund you created😉💕🎶

[@lisaburke7506]

Debt is also accrued (especially by higher earning households) due to familial and social expectations that a person with a certain job title or in a certain income bracket should possess a certain item or lead a certain lifestyle. There are so many lawyers, IT professionals, and other high income people who own more than they need (and even want) because that is what their coworkers, friends, parents, or spouse believes they should be buying. Owning these items eventually become part of one's self-identity and makes it harder to get rid of things, even things the person hates.

[@coryray8436]

I feel that. I'm a mechanic and know others who have gone into pretty deep debt on the tool trucks because it's cool to have the fancy, expensive tools. They're nice to have, but you don't need to spend $50 on a screwdriver.

[@Vlad-bs1js]

That's a good way of sugarcoating a form of stupidity. It's kind of sad that nowadays we're basing our identities around our capacity to consume rather than who we are

[@Skyhawk656]

@@Vlad-bs1js Its because these people mostly live empty lives based off their egos, but its our culture. If we aren’t consuming, we are seen as having value apparently. I just realized I dont care about what people think of me. I drive a Prius because I fill it up once a month with gas, I work remote, I have computers I use for my business which are 10 years old, my phone is new, but it’ll stay with me until it quits working…. But this is just a Upper middle class problem, the lower class cant buy, cant eat, cant get a home and its not their fault, its being under-paid that is the problem

[@quietstorm483]

@@Skyhawk656 I disagree that this is just an upper middle class problem. I know plenty of people on Section 8 and EBT that spend three digits on hair and nails salon visits, gaming, and shoes. They spend tax returns on trips and furniture. They earn so little and rely on conspicuous consumption because they are victims of materialistic values just like their middle class peers. The problem is just worse because now they are facing evictions or their landlord no longer want to take section 8 or housing vouchers. And in my state if you owe child support they will garnish your paycheck. Don’t even get me started on people having kids they cannot afford.

[@Vlad-bs1js]

@@Skyhawk656 I'm kind of similar to you, I drive a '97 civic (I do like older cars though), have a 7 years old phone that does the job and generally don't care about what people think of me, at least as far as my "wealth" is concerned. As for the lower/middle class people being under-paid, that may be the cost our society has to pay to be able to consume so much (in a sense, we're supporting borderline slave labour). What I mean is that if the majority of the people would be paid more then the prices of those products we so much want to over consume would also go up because lowering profits is always out of question, leading us right back where we started. At the end of the day, our current system is a zero sum game between the wealthy and the poor, with the "small" difference that the wealthy have access to cheat codes.

[@InnocentFred-hn1fp]

To be honest, I'm not sure if investing at this moment is a wise idea. Take note of how frequently things break down. Despite reading charts and predictions from famous investors from the past and present, I'm still looking for a better approach to invest my money because I have some time before retiring. I want to build a strong and trustworthy portfolio to generate passive income.

[@AustinReid09]

Without a doubt, the Fed is to blame for the exceptional catch-up measures currently in place since they were initially too slow to control inflation. The outbreak, supply-chain issues, and the state of Ukraine are all contributing reasons to the impending inflation perfect storm. Not to mention the steep rise in housing costs, another aspect that makes it difficult for the Fed to keep inflation under control. In conclusion, if you have the money, remove it quickly away to take advantage of the high savings rate.

[@patrickperez7387]

This is the problem! People who have little to no stock market knowledge frequently try to acquire on their own. I had the idea before acting responsibly and contacting financial advisor. "Ruth Loralann Brennan, in the US, but now everything is different. I started getting amazing returns on my investment.

[@patrickperez7387]

@@harod033 Sure, I'm not sure if I'm allowed to say this, but do a search on Ruth's, she was in the news a lot in 2020. She is both my coach and my portfolio manager.

[@williamporter5333]

@@patrickperez7387 Ruth's complete name was readily copied and put into my browser, and her webpage appeared promptly. Thank you so much for saving me numerous hours of time-consuming research.

[@Shawn-ho6de]

Always think long term when investing if you are young

[@BrianBBBB]

Being a social worker won't help much with that debt

[@thewb3]

she might qualify for service loan forgiveness if or whenever they flx the program?😉

[@sten260]

@@thewb3 oh god that's exactly what we should not do. Then she will rack up another debt and even more because now she knows that there is a chance somebody else will pay it off. That's not how you educate your citizens by paying off their debts. She needs to go broke and live in a 1 bedroom apartment and work 2 jobs for 20 years. That's what she needs right now

[@williamhodges3941]

240k? Man what school she went too? Geezzzz

[@2CheekyRabbits]

@@williamhodges3941 Her college loans were $50k. You’re citing the total, including her auto link ad n and mortgage. However, my dumb ass went to GW for undergrad and grad school and for what? Teaching. Wouldn’t do that again. I got a great education, but it was a stupid move.

[@briangasser973]

@@2CheekyRabbits I went to GW and am a teacher right now too. Agree it was fun being in DC, but not the best return on investment.

[@n4870s]

She has a iwatch so it is a money well spent :D Imagine buying so much stuff like new car, huge house and latest and shiniest luxury stuff on debt and then work on 3 jobs to pay off this stuff not having time to enjoy them while it is new. In the end you are forced to sell it on 50% of the price + pay off interest without being able to use the stuff. Sounds like showing off status and putting yourself under lots of stress.

[@gabibbo_007]

correction; Apple Watch.

[@NileshKanani-yw9jg]

Absolutely. People don’t set their priorities straight. Not going out for fun is unfair to this lady lol. Well welcome to the real world.

[@emman100]

@@NileshKanani-yw9jg I was cringing so hard when she was talking about it. 😬💀

[@NileshKanani-yw9jg]

@@emman100 me too. Self entitled people these days.

[@mikeboate208]

stupid is as stupid does .... if you want to be "well off" , watch what the poor people do , and don't do that !

[@JamesWilliams-jf3hd]

The way society constantly shifts blame onto unseen forces is ridiculous. STOP spending

[@smoothkid765]

people need to take some responsibility for themselves and their own decisions. got

[@GothBatty]

Stop borrowing and spend what you have.

[@alx8571]

Stop stealing wages

[@Dragonite43]

As a person who used to have student loan debt, I do think part of the problem is that people don't manage their money properly. I've had co-workers complain that they struggle to pay their rent, yet they are buying gifts for people, paying cable that is $300 per month (I'm not kidding), buying new smart phones for 1K, and buying handbags on credit cards. People keep throwing up "people need to treat themselves," but you can't treat yourself if you have no place to live. Focus on your debt first. Once you get your debt paid off, then you will be able to treat yourself.

[@Space-2-2]

This

[@AJayDrives]

Agreed. Mainly discipline. The only debt I have currently is my car but I'm a heavy enthusiast in the industry, it's one of my only hobbies. Save money in many other areas of my life to afford my dream car. Also helps having a house paid off.

[@ecclairmayo4153]

Exactly. FIRST things FIRST. A lot of this is poor money management. Getting into unnecessary debt without paying the old debt and having to pay it all at one time is distasterous.

[@richboy3860]

11:10 - “We shouldn’t panic about the household debt” because we are planning to let it balloon from 16 Trillion to 32 Trillion soon, so we have way to go

[@darioperez5084]

Or watch all of the currency lose all there value

[@brendane3283]

Going six-figures in debt to be a low-waged social worker? Sounds like it's her fault.

[@BlkwtrPrk]

In her useless Masters Degree program I'm sure she learned how this is the White Man's fault and that she should not be held accountable. Her job is being paid by the State to help others collect money from the state.

[@chrisbaer4567]

I agree. She's trying to live like a big-shot on a McDonald's employee budget. She did it to herself thinking the Master's degree would provide her all the income she ever wanted. She needs to get roommates in a $1000/mo apartment with a $2500 car. Not a $10,000 car and $200k home. No sympathy for her. She deserves every bit of debt she continues to accrue.

[@sew_gal7340]

Delusions of grandeur, wanting to live like a "queen" instead of living humbly and understanding your limits. Teach your kids about their limits first then teach them to shoot for the stars

[@alx8571]

We need social workers tho

[@jamesnguyen7069]

money is to slave u... illuminati

[@shirleyhill2982]

As a member of the pre-credit card generation, I'd lie to point out that as soon as credit cards were issued en masse, inflation combined with high credit card interest began.. People have been lured into indebtedness by banks and corporations, all stage-managed by advertisers use of psychology in the media to encourage the purchasing of "stuff" long since tossed into land fill.The same rates of inflation soared house prices from $20,000 in 1970 to $2,000,000 in 2022 for the same house.

[@timisaac8121]

Well, spoken darling! What is the income/fica/futa/etc on $20,000? not really that much. When my dad made about $100 week, he bought a home big enough for four children for 9500, about 95 weeks of salary! He paid Fica and so forth but fed/state tax were near zero. In Huntington Beach CA, in 1974 homes started at $25,000 but wages were a bit higher. Fed Tax was very low. Same home at $1.2M, it is 600 weeks of salary and the tax bite is 50%. Each worker is being forced down. You must make investments or you will sink. This reality can be seen by Republicans. They know it is happening. they think some how, it is "something else" so strike out with rage.

[@McKillahGuerilla]

Perfectly well said, before an event known as Bacons Rebellion Indentured Servitude was a system used alongside slavery. After the rebellion they abolished the indentured servant system, but I feel like the advent of credit cards and bank loans is a mutated resurgent indentured servant system

[@coreyham3753]

@@timisaac8121 Pretty fair comparison on the housing deal. However most americans do not make your 104,000 annual salary in your 600 weeks to pay for a 1.2 million home. So it is really more than 600 weeks. All income statistics show than income inequality in the US has steadily increased for many decadesnow. The biggest culprit is almost certainly the totally dysfunctional federal income tax system. It needs to be completely overhauled. It really would not be that hard to do, but the biggest beneficiaries being politicians, corporate america, and the ultra wealthy do not want the federal income tax system overhauled because it hugely benefits themselves, but disadvantages most americans. A secondary cause is the Federal Reserve central bank. The Federal Reserve has failed miserably on their mandate of "price stability" but they have knowingly done so. Again to benefit the politicians, corporate america, and the ultra wealthy.

[@timisaac8121]

@@coreyham3753 you seem to start with your quibble of salary: What number did you arrive at? (A big) culprit is the tax code? Yes, but you aren't sure how or why. If you wish, you might look at the affect of "depreciation" as a non cash expense (write off) as it relates to increase of real property prices. It wasn't always so. ACRS started under Reagan. Wars were offbook items and even WWII was funded by war bonds. Today, president just shovels unlimited funds from the general fund. In the past, we saw this destruction coming and no one did more than wring their hands: Now it is upon us. Instead of FDR, the most politician in the country is Trump.

[@pktdbgnzwl]

@Shirley Yes 100% ! Credit is a tool to sell more expensive goods n services to ppl .

[@marianparker7502]

Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy. The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $250k is down to $192k any recommendation;s to scale up my return;s during this crash will be highly appreciated.

[@Alejandracamacho357]

You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings.

[@Natalieneptune469]

@@Alejandracamacho357 I agree, my prof!t have been quite consistent, regardless of market situation, I got in early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from a portfolio-adviser. I found her on a CNBC interview where she was featured and reached out to her afterwards. long stry shot, its been two years now and I’ve gained over $85ok following guidance from my investmnt adviser.

[@Robertgriffinne]

@@Natalieneptune469 please who is the consultant that assist you with your investment and if you don't mind, how do i get in touch with them?

[@Natalieneptune469]

@@Robertgriffinne My consultant is 'Corinne Cecilia Heaney, I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven’t regretted doing so.

[@Robertgriffinne]

@@Natalieneptune469 I just looked up 'Corinne online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call

[@gregzz]

This is a lesson on how to not make your financial decisions. She has a worthless master's degree that led to huge student loan, and having 3 jobs to pay it off. Couldn't afford the house or car, but took out further debt. She has doubts if she should pay off the loans or save? Maybe both? Considering her delusion and decision making skills, it's no surprise that she gets paid less, and she still has no accountability or understanding of why it is so.

[@codingfinance6080]

Makes you sound so stupid 😂😂😂

[@theyellowsubmarine98]

It's so great to find this comment instead of blaming the guvrm'nt, I really cannot believe how some minds work, if you already have a fckton of debt how does a down payment for a car even cross your mind? Not even a cheap old car, but a brand new SUV. I couldn't even know what to do if I was so in debt.

[@Balla1309able]

@@theyellowsubmarine98 agreed

[@codingfinance6080]

@@theyellowsubmarine98 make some more money

[@Phil-ll8kw]

Facts

[@bf3ram]

A big problem i see is so many people buy expensive things they can't afford just to impress others.

[@chrisbarry9345]

And why not question why things are so expensive when people can't afford them?

[@nonyobizness7307]

I have a real hard time caring that this young woman with a master’s degree and a condo, well dressed and coifed, has some debt stress. Oh boo hoo

[@feedweeb8856]

somalian kids should send her some cash to make her life easier and less unfair

[@paulblichmann2791]

At least she has her fancy hairdoo.

[@trabajarhablar]

I had the same thought lol. Interesting idea to have her complain about not being able to thrive in her nice place.

[@nikolaisafronov3452]

you forgot the gold earings

[@StarScreamReee]

She clearly doesn’t have reasonable priorities in spending, if she’s putting down on a “beautiful place”, but works three jobs to barely get by. Spending money on nice clothes, condo, and a car that sounds like it maybe far above her means and complains about her debt situation. People don’t want to downscale to their budget let alone prioritize high interest debt. She has $450k in debt, she clearly doesn’t make enough money to pay that back, likely due to interest alone, but has no problem spending other peoples money to acquire more non essential things.

[@philc.9280]

I realize this will probably fall on deaf ears BUT credit card companies, banks, and all lenders need to immediately suspend all credit spending on those folks barely making it. We all need to go back to the old saying " If you can't afford it don't buy it" mentality.

[@ignaciodominguez3214]

They profit from those same folk.

[@kaidrache2395]

That would be the German model. Never go into debt, save every month, avoid interest payments like the plague and only buy things you really need and can afford to pay. Only exception: A mortgage for buying your house, but even then you are expected to have 1/3 of the whole buying price in advance and pay off the rest during the next 15-20 years.

[@Hunterhunter-ir9nz]

Exactly. A lot of people should not be allowed to have a cc, and government student loans. They are not responsible with them, and then they want to blame someone else, because of THEIR DEBT. No one made them spend the $. We need to live WITHIN Our own income level. People spend too much time worrying about what someone else has. Nearly every household could (find) $500 in their budget to pay their bills. But they WON’T cut! Ex of wants in America today. Cable, eating out, new cars, gambling, smoking, drinking, Starbucks. There’s tons more. We’ve confused WANTS with NEEDS.

[@patriciaramirez3139]

THEY ARE NOT GOING TO DO IT, THAT IS HOW THEY MAKE THEIR BUSINESS, ON THE MISERY AND DEBTS OF PEOPLE.

[@IBMowner1]

Phil C, I totally agree. That’s the exact mentality (and phrase) that my father instilled in me since I was a child. The issue is that most people don’t use common sense when it comes to financials. If you can’t pay it off in cash then you can’t afford it. The only caveat for that is a mortgage (you can claim tax and interest as a deductible amount from your tax). The closer the % is to zero the better it is for you. Pay your credit cards off, don’t take loans. Don’t live beyond your means. It’s simple.

[@maxmillions7]

Completely delusional, buys a somewhat nice car, nice house, wants to blow all her money in the “beautiful city OMG!!”. Then complains about student loans and debt 😐 She says that there shouldn’t be a choice between going out in the city and paying debt??? What kind of world is she living in!

[@emman100]

She is a out-of-touch spoiled kid. I was cringing so hard listening to her say that. 😬🤦‍♂🤦‍♀

[@SisyphusJP]

She wants to live like a boomer

[@Hans-gb4mv]

And yet I feel it's not the long term debt that is her issue. With her 3 jobs and degree, she should be more than capable to handle the long term debt. Makes you wonder what is she spending on short term debt that makes it so difficult. A 10k car isn't that expensive and even the mortgage on her condo is manageable. I therefore must assume that she is buying a lot of other things, potentially on consumer credit, that is making life difficult for her, but those are the things you often can live without.

[@pmscalisi]

@@SisyphusJP I personally don’t know any boomers that irresponsible, including me.

[@kenbob1071]

Chill out dude. The car was an unexpected purchase, and with a debt of under 10k, was probably used and/or she paid off most of the purchase price. The "nice house" is a condo that she cohabitates with someone else and at a mortgage of $184k is cheap. She also never said she wanted to "blow all her money" in her beautiful city. She was just referring to a decision that hangs over her head every day. Sometimes a person just wants to do something fun for a change and not constantly worry about whether or not they can afford it. That's all she was saying.

[@ralphkilloran8065]

According to the National Center for Education Statistics, for the 1970-71 academic year, the average in-state tuition and fees for one year at a public non-profit university was $394. By the 2020-21 academic year, that amount jumped to $10,560, an increase of 2,580%.

[@hs5312]

Did you adjust for inflation

[@ralphkilloran8065]

@@hs5312 Adjusted for inflation, $1.60 in 1970 is equal to $11.83 in 2022. Annual inflation over this period was 3.92%. In the year 1970, the United States minimum wage was $1.60. This is equivalent to $11.83 in 2022 dollars. At a glance the obvious that tuition jumped 4 times higher than the minimum wage.

[@brianping3105]

It does say a lot about the education system we have, and the thieves running our universities. They keep increasing the cost for education, and depend on the government to "fill the gap". Harvard for example, has 50 billion dollars in the bank! Atrocious!

[@movingman07]

The whole system is a sham it is based on consumption and the minutes consumption stops everything grinds to a halt. It's all bound to fail at some point 🤷🏾‍♂️

[@melelconquistador]

I hope it will, when do you think it'll happen?

[@robertagren9360]

The world lives on a week old memory.

[@James-eq8cq]

Spot the Gen Z. People have been saying this for a long time. But there's a reason why socialist countries like the USSR and Venezuela fell much sooner.

[@melelconquistador]

@The Real Calamari, its exciting, I've been in crumbled societies. It is exciting because something new is to come. Whether what is to come is good or unpleasant will be judged after arrival.

[@melelconquistador]

@The Real Calamari That's why we should hold each other as to be our own monster so we don't get thrown around.

[@AccordionJoe1]

I drive a six-year-old car. My modest house is paid for. I have just one credit card and pay the balance in full each month. I only take my wife out for dinner when I have enough cash to pay for the bill and leave a good tip. This is how you avoid drowning in debt.

[@SeattlePioneer]

Good start! Keep it up!

[@Undercoverbrotherfromanother]

Yes sir. Cash is king.

[@SeattlePioneer]

@@Undercoverbrotherfromanother My post: Your reply: In my view, cash is FAR from king. You need enough cash to meet your needs, but beyond that investments of various kinds usually offer greater returns and more security that cash, in my experience. Just as an example --- I have about $3500 face value in American silver coins. I've had them for decades, and I hope I never encounter economic failure that makes American currency valueless. But it's a backup. And I have several thousand dollars in hundred dollar bills, available in case of some urgent need or liquidity crisis. So I would say that I have protected my need for cash or instant spending power. But most of my assets are in rental real estate, my home and various stock market accounts. They provide much better returns over time than does cash. So I would agree that cash is king! when you need it. But when you have enough to protect yourself, it's probably time to looking for other savings and investment methods.

[@douglassauvageau7262]

It is called 'old-school' because it has worked for a long time. 😉

[@AG-sx7si]

Agreed. All of my peers are in serious debt. I can't relate. But then... I roll my eyes every time they spend frivolously. Ugh

[@justliberty4072]

"It's not fair" that someone should have to balance cost against the value of things and experiences? So fairness is all of us having all that we want?

[@mysteryuser7062]

Yes. I overspend because I’m stupid and you pay for it because you’re responsible. I can’t be held accountable for my own actions are you crazy!?!

[@joesmith942]

The scariest part of this is that the woman is a "social worker". She is giving people advice. She has a license to give people advice.

[@Dre2Dee2]

"Just use credit cards, thats what I did. You can always go bankrupt later"

[@cookiecrips7111]

I'm in my late 20s and all I was taught in school for 12 or so years was how to fill out and file paperwork. Literally almost nothing else. I haven't really had to use most of what I was taught besides some basic math. But I would've been years ahead of where I am now financially if they taught actual needed knowledge and skills. Parents amd teachers are also to blame for the student loan crisis. They didn't inform you that you can essentially go to your local community college for free with FAFSA and other government aid if you're under a certain household income. Can't let 18 year olds take out loans on houses or cars but let's encourage and allow them to take out loans for tens of thousands, even hundreds, on an education that might mostly be useless in 5-10 years.

[@reedolson9308]

And always remember: these are the only loans that can never be zeroed out in a bankruptcy! Never. Of course, the banks are very very aware of this and have been all along!

[@GBU61]

I was pleased when my daughter told me she can get a job making a decent living without going to college. She said why go to college and rack up debt I will probably never pay off? I thought that was very astute for a 17 year old!

[@realnapster1522]

You have to go for the right degree. STEM degrees pay masters. Grad school can be free or have very low expenses if you get aid or scholarship.

[@mocheen4837]

My daughter is in college and started investing in stocks. I started her with $2,000 and she adds $100 per month. I bought her a used car and paid cash for it. She uses her credit card to pay for gas. She lives at home and works part time. She saves most of her money and has a $10,000 savings cushion. She attends school on a full biotech scholarship with plans to go to medical school after she graduates. We started teaching her about finance when she was in kindergarten.

[@Ava-km7tl]

I hate that the media ignores how badly the average person is suffering

[@victorkreitner754]

Not me, I'm a generation X person with no debt and money in the bank/retirement/pension. I worked through college to not have debt. I did it the way it should be done over handing over a piece of plastic to go into debt.

[@pHixiq]

I think the biggest thing above all is the lack of financial education. It’s insane how many 40 year olds lack what I would consider *intermediate* spending and savings habits. And I’m 21 😂

[@Daiman01]

its the interest rates than keeps doubling those debts.If interest rates doesn't exist.I can assure you.People at the age of 40 already ended their mortgage and debts..

[@PabloSanLuca]

@@Daiman01 You understand interest is the payments you make for being allowed to borrow money, right? Banks aren’t charity. The government isn’t a charity. You don’t just get to take money for free

[@AvoidTheCadaver]

@@Daiman01 For things like credit cards it's people spending beyond their means and not clearing their balances month to month where interest becomes a problem.

[@pitt5674]

👎👎

[@Daiman01]

@@PabloSanLuca yes and americans have been suffered through multiples financial crisis that interest rates aren't fixed and ballooning with jobs doesn't give any increments.Its really hard living in the world with interest rates without having a stable job. Not too mentions,american college loans have interest rate of around 6-8% alone.. We're not talking mortgage,car loans and credit cards. I believed interest rates are bad and troublesome. It doesn't help people at all. My father alone whom just lost a job for a year.Just got only 6k lefts to pay off the mortgage. Now it got sky-rocketed to 44k. You see the problem here?

[@Joshmarmolejo_]

When the interest was paused and still is most people just sat around and waited for the government. I took advantage and paid off the interest. Now I’m down to the principal.

[@AlexMint]

Unfortunately I got stuck with private loans and even with the paused interest on federal, avalanching requires focusing fire on the private. But at least I can do that, as opposed to just drowning.

[@aao449]

"...I shouldn't have to choose b/w enjoying all the fabulous, money-consuming things this city has to offer vs paying my bills..."!!! This is the example they selected to symbolize "the struggling American". On the surface she's doing a great job of looking like she's living it up but it's obvious she is strained by her debt. She doesn't believe in spending what she can afford. The next step for her will be to start stealing or scamming ppl b/c she's consumed with living a particular lifestyle she's not able to afford.

[@sobewisdom]

this

[@Constellasian]

Yeah, her mindset was wrong when it came to being financially responsible. Unfortunately, this is the mindset of a large portion of Americans. That's why there are so many in the US living paycheck-to-paycheck with little to no savings.

[@RadTradDad]

I thought the same thing

[@mattmason7554]

I know. That floored me.

[@Lifeadventure22]

My thoughts exactly shes living way beyond her means My advice and I came across this by necessity if you are single this is much easier to do and what I do is i live out of my car it is hard but I enjoy the little things a lot more i dont have rent no gas no water bill no trash or electric bill i have a storage unit I pay on a gym membership phone netflix and Hulu and my cars paid off and its taken me a few months getting used to the lifestyle but its getting better thats my advice

[@victorkreitner754]

Im almost 58, have 210K in savings, paid off Toyota truck, not a penny of debt, and live in a rent controlled place. Still work a job I've had going on 24 years, and do a lighter schedule now. I wake up every day knowing if I have any kind of emergency I'm cash covered. As a former Army soldier I go to the VA for my healthcare and check ups. I hope younger generations when they get in their late 50s are as happy as me and most importantly..."DEBT FREE"

[@headydanger]

When they announce we "shouldn't be concerned with household debt yet," you remember you're watching a CNBC clip. 😂

[@jeremyzelt3007]

Facts these guys are clueless Inflation was transitory remember

[@AustinB96]

They’re libs what do u expect?😂

[@30jenniferg]

If everyone became a minimalist & stopped buying unnecessary stuff that ends up in storages, goodwills or trash, paid for needs & not wants, then everyone would not be in debt or with high credit card bills.

[@AQuietNight]

And there would be no economy :)

[@ngugi7279]

Yep

[@talcohen1346]

And save the earth while doing it

[@thatgui88]

America's economy is based on consumption

[@ngugi7279]

@@thatgui88 if everyone become a minimalist and stopped buying unnecessary stuff US economy would collapse.

[@brianneholmes6547]

I am totally debt free and hope to stay that way. However it takes me longer to save for things. The upside is that I own everything I buy and I have time to make sure it is really what I want.

[@chrismay2298]

Glad at least one other person understands what it means to be a debt slave.

[@RockstarRocky10]

only get into debt if the stuff your going to buy pays for the debt repayments and gives you a income on top.ie a mortgage on a house to rent out that will pay the mortgage back,give you income and hopefully gain equity with the price going up.that is good debt. or for another example,machinery/equipment that will help grow your business and make you more money and cover the payments.

[@gardenjoy5223]

@@RockstarRocky10 Agree to some point. But it's not a bad Idea to use rent money and spend it on a good home, that you buy. After 30 years of paying rent you have nothing. After 30 years of mortgage you have a whole house. Just roughly speaking.

[@RockstarRocky10]

@@gardenjoy5223 yeah of course.listen if you can buy a home to live in and then a couple rental properties for income that could possibly cover your personal mortgage that’s brilliant. Then if you could get more to cover your cost of living then your laughing.this is how some people live.the people that are never in a rush to go anywhere when you see them lol

[@ricneypasterin1435]

She said “pay off debt” or “go embrace the city” I can’t believe it

[@stephenc2481]

Normally people like this lady have issues because their priorities are wrong. "carpe diem"!

[@agreen271]

“It’s just not fair” 😂

[@warrentoles3127]

Next she's going to want to get married lol

[@kenbob1071]

Dude, she just meant doing something fun for the day --not that she was going to default on her loans and party.

[@agreen271]

@@kenbob1071 yea and that’s not what I’m saying. To say it’s unfair is just false that’s just life. You need to find a balance of saving money for debt and spending money for fun.

[@MrMountainMan]

I had student loans for 15 years after school and my wife for 20 years. Only thing I would have done differently was go to school in-state vs out-of-state. My degree has been my golden key for my engineering career, and never had an issue during the 08' financial crisis or any other time thankfully continuing to grow. Debt sucks a$$, but a college degree is worth it IME vs the alternative. A lot does have to do with the career and degree obviously (Philosophy vs. Engineering degrees) and ability to get a salary to pay back loans.

[@howellwong11]

An engineering degree (or any other degree) is just a steak. You have to provide the sizzle.

[@hbarudi]

15 to 20 years having the loan? That is too much college was of lower cost back then compared to today's college hyperinflation. 1 bedroom apartments were lower rent than today's rent hyperinflation. You should have tried to pay back the loan when it was affordable to do so...

[@arfo8353]

Why are most Americans in debt = they've spent beyond their means. Gotta have that new car, bigger house, $1200 phone, and don't forget $6 daily coffees. Higher education is whole different issue. There's this American ideology that it doesn't matter how much the degree costs it's worth it if you're building a future.....higher education is an investment - you should get an ROI. If you're getting a higher education for the passion then you should make sure you can afford it. Basic budget & finance should be a mandatory highschool course in senior year.

[@eniak00]

I wouldn’t disagree with this but will they teach? That there are such things as “good debts” or that debt is always a risk?

[@danhassett44]

Agree. Thats why collage cost go up 9% a year. We need more people going into the trades.

[@robertagren9360]

The job ask for the knowledge, the requirements for the job should be studied.

[@thomaswilliams2532]

Many of us get into debts because we love to spend money (namely credit) and the money we spend grows even higher due to interest rates. We buy expensive cars (on credit), We buy lovely houses (on credit). We get fancy education (on credit), We buy things (clothes', food, household items, etc.) all on credit. And all this credit has eaten our funds (current), yet they keep growing because the credit card costs never cease to stop. That cost never goes down. And then all of a sudden, we start putting the blame somewhere else other than on ourselves. That's where the problem lies. It lies on us and our poor habits when it comes to money.

[@josha420]

I’ve been saying this for the longest time. Problem is you tell most people that and they take it personally.

[@mounishvishnujai5318]

So let me get this straight.....she has more than 240k in debt BUT....she decides to put down money for a new house???!!!!! Now i know why Americans are in so much debt

[@emman100]

She was also complaining that she has to decide between having fun and paying debt. This woman is not in any sort of real danger. They should use someone actually in danger of going broke.

[@claw1004]

The 240k was including her house, and the alternative is renting which is arguably a worse financial decision. At least with home ownership, you're building equity.

[@alx8571]

@ghost mall yea your employer for underpaying you

[@jamesnguyen7069]

she waiting for the govt to bail her out my guy

[@AustinB96]

She’s a Democrat, democrats are stupid