I’m Drowning in Credit Card Debt 

Yeah it seems like they can clean this up quickly

Very true. This call proves what Dave Ramsey always talks about is correct. ALL debt has stress attached to it. So even 15K in cc debt can stress out someone who makes 70K a year. No matter how strong the chains are, you are still a slave and it affects you mentally and physically when you have debt.

The problem with credit cards 💳 once you fall behind on one All of the others jack up your rates to 30% even though you aren’t behind on them , so they really force you into default

​@@vickieclark5931yep Even when you paid off your home.

Thanks to Dave. Mr. Dramatic.

Too many rug rats!

They have $6,000/month income, plus 1 of their children is a high school graduate and works (which even if they don't charge her rent, she can be buying all her other stuff.) People live with less disposable income, they just need to make a budget, and cut out stuff that doesn't fit in their budget.

It's the kids! Sell them and move on.😂

​@@thelogicaldangerexactly. Very doable. Just have to sit down and get it done

@@samanthalake5011😂😂😂😂made my day

Get a bloody budget. Sit down together and go through everything with a fine tooth comb.

Fifteen thousand is a lot When you can't make lots of payments.

Dude he said he has 5 kids!

Very encouraging words.

If he was a single, yes but with 5 kids it's a lot.

With two incomes. My $15,000 CC debt was paid off in 3 months alone

Or beans on toast

@@TheFauve4ever 🇬🇧 👏🏻

That is true. I said to my partner we’ll go to McDonalds or Subway *when* we’ve paid the cards/loans off.

or be on a diet, most ppl are overweight in this country anyway, might as well save $$ n eat less, saves a ton cause grocery inflation is crazy nowadays

And a wife....OH BOY!

Exactly. Teenagers are expensive. I've got two. Can't imagine five.

My twins (son and daughter) are 23 years old now and they both went off into the military at the same time and when they both left I instantly noticed an extra $1,000 a month at the end of the month. I never noticed how expensive kids are until they were gone, but my daughter was way more expensive than my son.

Sell the kids. Beans and rice.

@@christinebutler7630 lol

👏👏👏👏

Hell yeah man!

How did you negotiate with the credit card companies to accept an interest rate reduction? They told me to kick rocks…

​@@angelofratantoni8170never said they got their rates reduced. Just said the 15k is 0% interest. Could've been a balance transfer to 0% introductory card or something like that

Congrats man

Awesome. I’ve been checking my money too.

Same!

Keep going bro. I Started this 5 years ago. It's changed my life.. I promise once you pay off your debt. And save up 3 months Emergency Fund. You will feel better and sleep better at night.

5 kids has nothing to do with it. There is a couple on RU-vid who have 14 kids and no debt. Lack of planning is the problem

But if they’re paycheck to paycheck , then $15,000 seems overwhelming. Especially if you make a $50 payment and interest back on it is $40 ! 😮

Same here, his plan works

when he’s earning double that a month too lol

Just stop paying and don’t answer calls until they offer a cash settlement at less than 50%

LOL, like hiring an electrician to screw in a lightbulb

​@@CurieBohrright

​@@bigcahuna42366Yes, you probably know everything

I’d probably double that number for 7ppl just for my fiancé and I is around 5-600$ I actually went to Aldi the other day thinking it’s cheap to save, 1/2 cart and 180$ 😬😫😳😩

@@weldinggirl the weird thing is that it’s the most expensive for one person (around $400 min) because basic household items stay the same. Add on another €100-200 per month per person.

@@kara2162 it’s ridiculous I don’t like going to the store anymore 😭😭

lol. We spend about a grand a month on groceries for a family of 4 now! That’s with me eating out for lunch and the kids eating school lunches.

​@@grantv2313Me and my wife solved that partly by adopting two kids. The money we get for them monthly helps a lot

Technically, one can drown even in a puddle.

With 5 kids it is

@@wtk6069 The unluckiest person out there

Not all are his either. Got what.he signed up for.

Yes keep at it!!!!

Well done! 👏🏾👏🏾👏🏾👏🏾

The two teens need to get jobs.

His billboard on I-35 brings 'em in!

Good catch. Probably true.

They should have more. The gift of them is more important than any debt. Please have a heart.

@JustinCase780 kids are awesome, I agree! But $6k a month is extremely low for a family of 7. That's why the math doesn't add up.

More Americans is the worst possible thing for the world. @@JustinCase780

​@JustinCase780 This is not a heartless thing. This is a commo sense. People can keep bringing kids to a world full of bebt, they need food, shelter, education and more and that cost money. You cant feed a belly with just love.

@@mariorta5017 I know. I already replied to the previous commenter that it was sarcasm but they deleted it. 🤔😂😂

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My rent is 1700 and I make around 4k a month and I feel the pinch

My rent is 2150$ and if I look to buy mortgage in south Florida is extremely high about 4-5k. Where am I suppose to live if cost of living so god damn high. And having credit card debt. I can’t move and leave state because I have a good job with pension that I wouldn’t want to leave. America just f up right now

@@31752samsung $2150 for rent is a lot. It is always a good idea to buy a home as long as you can afford the mortgage payment. My first home is not in my desirable area but it is affordable. I paid 250k for it and sold it 7 years later for $500k. Thank god I purchased it early.

That's quite a story, you should be very proud of yourself

I hear ya. Working to pay mine off!

Same. I'm debating if we should file bankruptcy or try to pay it off

🤣🤣😂😂

@@princevinny0073 Are you in the same boat ? Or just think it's funny?

@@bribri7344 yeah but not 50k in debt more like 16k debt and i only make like 300 bux weekly and its nearly impossable to pay off

4 kids? Damn girl. Didn't notice after 2 that your guy wasn't worth a 3rd?

With 5 kids it will always feel as though theirs know financial relief

I hear what you're saying but as the biggest investment of your life you should know everything inside and out. Ive seen plenty of young first time buyers just going in blind and falling in love with a property and ignore everything else. And if you're not gonna look into anything then pay a third party to read all the literature and it explain it to you.

You need to take personal responsibility and do your due diligence to the best of your ability.

It would not be better to just buy housing much less than one has the income to support. For example, on my 40K a year income after tax I have about 2,400 per month so the wisest decision in my opinion would be to buy housing at $500 to $800 a month not even approaching the 1K even mark!!

@@donaldlyons17 its not the mortgage itsself that's the problem..if its 30 year fixed..its the taxes in my case🤦🏻‍♀️l'm in California so u know death!

@@YouSoCute2000 ok renting cheap worked in the past so why not buy cheap but I know in some places that is impossible

I think people (mostly males) do that because they want to impress the gal. If they actually live within their means, they either are on verge of being divorced or they are on their way of being divorced.

​@@wewhoareabouttodiesaluteyo9303sounds like something to share with your therapist.

And the life you don't want is NOT better

nah you'd have a boring af life

I agree, everyone still wants to live the American Dream like we are still in the 1960s (5 kids and a mortgage).

I was in that exact scenario, the day I looked at the principle vs interest on my payments was the day I threw everything at it. The Principle wasn't going to be touched for 4 years if I hadn't listened to Dave and done that

This guy gets it

Hmm. So next time you go to that emergency room, you’ll be waiting on billing to pay that up instead of receiving care.

@@CurieBohr In almost all hospitals in the US, emergency rooms can not legally refuse care for any reason, including someone owing them money.

​@thelogicaldanger9238 For life threatening conditions only. You can't show up with the sniffles and insist that you are owed care under EMTALA. That said, Tito may be leaving out some details, like the hospital is improperly charging what is agreed to be written off under their network billing agreement. The numbers sound about right on that. If that's the case, Tito could have gotten their insurance company to duke it out with the hospital. Possibly still could. We had 2 bills pulled back from collections after our insurance company pulled rank. Hospital billing is not used to people knowing their rights and calling in the cavalry. Most people just pay.

They can't sue you and take you to court

Thank you someone said it excuses excuses I’m a single mom of 4 and I do the same or less a salary than this take home

Sounds like both.

He's always advocated to settle on collections.

Did you miss the part where he said you owe it, you lose, pay it.

That is hilarious.

@@Marine1truthlol

Too much house for the income.

$6k a month net is around $100k income a year gross. I assure you the majority of homeowners make that or less.

@@eggsinsideme I assure most homeowners are in the verge of being homeless If that's the case. If the state decides to increase taxes, guess what happens if you don't pay? If you live in an area that has laws and fines you for not keeping the property up, guess what happens if you don't pay? There's almost a guarantee you'll have to put a couple thousands dollars yearly into it for one reason or another, if you can't keep it up what you thought was an asset is a depreciating liability. What if the car goes down and you're not in a metropolitan area, you just decide to walk it out or get a new whip? Got kids? Better post the OSHA guidelines throughout the house because one medical emergency ruins everything I pull $4K/month on my own. I know exactly what I'm saying. $6K/month ain't enough. If I had an extra 2,000 coming in monthly I'm getting a nicer apartment not taking on a bunch of dumb debts

​@@eggsinsidemeyeah but they have 5 kids I'm not sure it's enough to even make savings

​@@eggsinsidemeexactly

Love The Hammer!

Wearing a ragged out T shirt too. Him and that dweeb in Cali dress out of their dirty clothes basket.

oh it shouldnt even take that long. with a $2100/month mortgage and a $6k/month income you should be paying off $15k in like 9 months.

Two years!!? More like 6 months or so as we shouldn't drag this out any longer than it has to be.

Simply because they don't know how to live in their means they live way out of their means

Christmas/Debtmas. Glad I don't celebrate holidays 😊

5 kids tho.

@@Shortballa11 oh, maybe 24 then

​@@Shortballa11Make the kids work

@@gedecandra7722he didnt mentioned the ages, bt the fact they are still school is likely only one is of age to work if any. And if you make them work that also means you gotta get them a car so they get to and from job. Which means another insurance bill as well.

The kids need nutritions so that they can do well at school.

But at least 1 is a step kid so mayne child support too?

$100 an hour to get a printer to print 😂 Sure buddy

@@GuitarGuy650 for someone to come to your house…that is reasonable. Much more in demand than teaching guitar.

You are wrong about that. He could NOT easily start a business doing IT support. I also do IT support. The industry is completely flooded.

seemed fine until he said 5 kids. 7 humans on a take home of $72,000/year

90%

I think their official position is to avoid it because it’s just “moving debt around”. I’ll say though that seems like a good way to do it to me.

Yes, our mortgage is

No it's not.

With five kids. In Austin Texas

​@@robloxvids2233Do you live in a cardboard box?? 5%??

Cash is King

Some kids go to after school daycare. So that would count as daycare costs for the parent if so.

@@Sheryl777but much less

@@thefunfam1433 👍

I’d like to see him locked in a room full of gold overnight, OH THE HUMANITY!