I'm $250,000 In Student Loan Debt! 

Well done!!

Congrats. I'm proud of you

Congrats! Out of curiosity, what degree/job did you have? I'm in the same boat of paying off loans and it's nice to hear success stories

Congratulations 🎊🎈

Great job

Agreed. Picking up a couple of extra shifts is completely reasonable, but if you overextend yourself too much and a patient dies because of a medication error it can destroy your career/life. Getting out of debt quickly isn't worth a multi-million dollar lawsuit, losing your heathcare license, and possible jail time. The risk benefit ratio is not worth it when a path to debt-free life is still completely possible with those incomes.

I don’t think they need to work more. I think they do need to eat at home and Stop all extra spending

That's the Dave Ramsey plan, eat noodles and beans ride a bicycle deliver the news paper and on your way to becoming a millionaire any Day now.

Sounds like you’re burnt out. If you are I would strongly encourage to change floors/hospitals/ or go part time. I do agree with this statement, but here’s my take. I left my hospital to do travel nursing. I love it now and I’m not burnout. At my other hospital I would NEVER pick up an extra shift or work four in a row. Now that I am at a better job I am now currently looking to see where I could pick up an extra shift every now and again. I’m on step 4/5/6 so I am trying to pay my house of quicker. NURSE LIFE FOR LIFE!

@@Nursemidratz I am a nurse, yes. I never lived beyond my means. The only debt we had was a mortgage. No CC bills ( paid them off every month) student loans or car payments and I still got burned out just working my normal hours. The scary part is that I didn’t recognize burn out until it was almost too late. I also worked with nurses who took all the OT shifts AND had a second job. They were always tired. I not only left that floor, I left the bedside and I am the happiest I’ve ever been. When people are in a financial mess like this couple, their focus will become the money and they may not notice when they are not safe until it’s too late.

Yup.

Agree. RpH here. ~600 volume store. Edit: Rph’s are quitting left and right. Stores are closing because no RpH available to work.

@@djrx2 YES they are! Here in tampa they are desperate for Rphs. No one wants to work in a crazy environment putting their license on the line and having to clean up a mess. I won’t say the company I work for however, it’s the worst in terms of pay rate too. Very underpaid.

Shout out to all of the pharmacists out there! This was the route that I originally intended to take, but ended up going to dental school instead... still wondering if I made a mistake smh.

@@tezh5897 idk hard to say. I know the median salary of DMDs are like 165k and you guys aren’t in a saturation like we are. But also I know a lot of DMDs with 500k in debt too…

They come to Dave for a reason. They dont come to you for your financial advice. The medical error is this debt/income ratio these people have. I thought people worried more able this work/life balance myth more. If your finances are in order, Im pretty sure your medical errors at work would be nonexistent. It is not like he talking about forever. More hours to him could be a different story compared to you. All Dave gave was his advice and the man either take it or not.

@Austin Duke I understand. I have a 2007 Toyota Solara convertible the model with all the bells and whistles. At the time it was a top of the line luxury experience, now it pales in comparison lol. Still fun to drive but the KBB is 7K (give or take). I think you can get decent comfort for lower cost but the user experience will be lacking in an older model.

I was a "car guy," and didn't have any of this knowledge. I was happy to finance corvettes and camaros (my cars of choice). I have so many regrets and think about what I would have now had I invested those monthly car payments all those years. Those cars where INSANELY expensive when I think about it in those terms.

I make as much as him and my most expensive car so far has been $20k used. Still never had a new car yet in my life!

Same here.....

To me it is all about ratio, if my liquid is $500K it is ok to buy that $50K car. But being in debt and goes further into car debit is just not smart.

Even if he was a Physician, this wouldn't be okay.

This is why I am working for a debt relief company, I was surprised to hear most of our clients are college educated. I guess this caller is one of the most typical guy.

Still need to convince the wife. She seems high maintenance.

Depends how many hours she works

Probably part time nurse. The one I know made over 100k a year.

UPMC is infamous in the Pittsburgh area for their low wages. They also are a "non profit" who owns more real estate than anyone else in Allegheny County and the property taxes for the rest of us are high because of it.

@@cancel.lgbtq.6892 yeah she probably just works part time with all those kids.... beans and rice

Unless she works in states like Alabama, Mississippi etc. Here in Alabama starting $25 ...

Selling peds?

Very true, Alex.

You shouldn't feel sorry for them. They made the decisions

Pretty much. I still drive a 2005 Chevy Colorado with 212k miles on it..... 2wd crew cab and it gets 28 mpgs on the highway

Ah, another internet-millionaire.

Beans and rice

there is definitely an education within our school system. Financial literacy isnt taught anywhere near a school lol. Most people are taught by doing their own research and teaching themselves.

Total setup!

It's both of their cars though. If there was no kids involved I could see a point but odds are the husband drives a sedan because he's mostly driving for himself and they bought a minivan for her to drive the kids.

@@TigerkemThat's nice and all but still financially reckless. It's not wise to have kids while in debt anyway...

All for happy wife happy life😂😂😂

Wife had to keep him around.

I think he said she is pregnant but the car is too expensive for her salary.

Because as a married couple you budget for a household and not individual salaries. The car in question as a pregnant spouse is more than likely a van not some luxury sedan. And reliable vans are exactly a cheap vehicle. But let’s throw out the specifics of what the car is or isn’t and focus only on each persons salary. $35K is a lot compared to a $50K salary (again married irs household to me) but let’s just flip the cars around and say he has the $35K car. And let’s say he lost his job. Does that change the actual financial effect in any of this if his income went away simply because he drove the more expensive vehicle? Nope. They’d still be up a creek. So the price of the vehicle compared to the individual wpouse salary really means nill because whoever drives the thing they still need both the incomes.

If she throws a fit then throw her a couple fist

They offered my son 2,000 what he paid. She better get out now

Refinancing? The game is to pay it off, preferably before you have a child. They shouldn't feel comfort about this stupid mistake. You're just making excuses for the mother like most people. This is reason why most people are in debt; Justification.

True, Kevin. This is why I made it a priority not to get into this situation in life.

@Lordeverfall100 Yeah This generation has become the, "Look at me generation". What a legacy to leave behind lol

That's because Personal Finance is a behavioral equation and not a math equation. I see smart overweight people all the time - same thing.

Most of us grew up watching our parents work two jobs and living paycheck to paycheck. Also financial literacy isn’t taught in schools. So yea it’s understandable when someone with a great career is clueless when it comes to managing their money.

Not surprising at all. Educated does not equate to being financially literate.

This is like saying a lawyer should know everything a doctor knows about medicine. Both are intelligent people but have a different skill set. Managing your finances is a skill, like everything else in life. It must be intentionally developed and practiced to see results. Most people did not have this skill taught to them and likely picked up bad financial habits early on in life. Unfortunately, this leads to costly mistakes in adulthood. The key is to acknowledge this weakness and seek to develop good financial habits. This is the whole mission of Dave Ramsey's Financial Peace University.

Lol exactly

Humans

Entitlement factor in 1st world country.

Always the wife..

She’s probably working part time with having a 2 year old

Pretty common to make a low salary like that as a nurse in states like Florida. Not everywhere values nurses as much as they are actually worth, unfortunately.

@@McMurica I actually work with a nurse who relocated here from Florida. Makes more as an RN here and pays hundreds less in rent. Depressing how underpaid Florida nurses are!

I was thinking the same thing lol 😂

Factssss

But it's not worth it. 100h weeks would not be good for his health and wellbeing.

@@stefancoban59 agreed. Just saying that he has plenty of shifts available to him and we are so short staffed they will offer time and a half plus bonus. If he works retail, he can also work remotely checking scripts too which is less stressful. So glad I paid my student loans off before the pandemic. Its a mad house in the pharmacy world and i would hate picking up extra shifts.

@@christeee ok. I get what u'r saying

@@lastmintuefishing i would either look into prn in patient pharmacy if you already have a retail gig. My local hosp does minimum two 8hr shifts/month. I also work for a large corporate retail chain. If your district is short staffed like mine, ask your DL for a laptop so you can check rxs for other stores remotely.

I don’t want my pharmacist working 100 hrs a week filling my prescription .

He did say she was pregnant, so I'm assuming she doing less time in the OR.

Not where I’m from

The amount owed was said, he never mentioned the value of the car.

@@darex0827 he said his loans was for $17k hers was $35k

@@djpuplex loan, not value of car. He may be driving a 100K Porsche with 17K left on the loan. Who knows.

@@darex0827 Agree they should sell both cars and drive two card around $10k each until debt is gone. My guess she's not on board for that. Also when he pulls into the pharmacy parking lot with a Honda instead of whatever people will talk.

The husband also had something to do with making a third.

in ghetto areas it is drug

Something telling me, they wont be on the same page.

The debt is not a big deal so long they major in something useful

Lol child support enters the chat

If they get divorced she would be making 50k a year and receive 5k in child support and no debt. If she realizes that he’s in trouble..

lol no....If I'm on a plane and someone yells "Is there a doc here"? I want a REAL doc, not someone who took courses to clean teeth or put my medication together

You know the chances or the odds of having your student loans be forgiven.

So have the taxpayers pay off their chosen debt, so that they can keep their income for themselves?

That's insulting AF.

Because the student loans are massive....you're gonna need every bit of income to knock that out...

Eww a used car. As if.

@@user-rw8zj1td9v I understand...but what is an extra year or two of payments, if it means you can drive and eat what you want right now? Even if his rent is 2k a month....that is 24k a year, and you still have 175k left to pay other bills. They probably already have the money in the bank to pay off the car, but didnt because on low interest rates. Dave is telling him to sell because Dave believes that we should only drive car after he is done with them.....until you reach his financial status. But this is just his way......but it isnt the only way. If it were me...I'd drive the used, and let the family stay in the new. I dont view cars as assets...so they dont depreciate in my eyes. Depreciation is something only used car salesmen should think about.

I agree 100%. Dave just has this obsession with trying to get out of debt in an unrealistically short time period. These people just have to learn to like a normal avg couple and they can throw 70-80K a year at debt. The problem is they've been spending like crazy