I Owe More On My Car Than I Make In A Year 

A select few industries care about Ivy League, and that's just old money recycling itself. In the real world, employers only care about skill set and experience. Many of them are even dropping the bachelor's degree requirement altogether.

I'm guessing it's St. Thomas business college. Good school, but unless you're getting scholarships, or come from a wealthy family, don't even consider it.

I wouldn't spend that much for medical school let alone a 4 year liberal arts degree 😂😂

@@andidede3653 I'm pretty sure he went to the business school. The Minneapolis campus is the business college, the St. Paul campus is where you would get the liberal arts degree. It has to be the school I'm thinking of because the only other private Christian school in Minneapolis proper is North Central Lutheran, which is much cheaper than St. Thomas. Regardless, really dumb decision. Edit* I forgot about Augsburg. Could be that one too. Those places never used to be this expensive. Knew a lot of people that went to them back in the day. Tuition is out of hand, and unless people stop paying it, they will continue to charge what they are.

Medical schools here in Texas charge around $25K a year in state tuition.

Going to lose his mind for good reason. $32k a semester. That is over a quarter a million for a degree (assuming no tuition hikes).

the guys not calling for John to lose his mind, he's calling because he made a mistake at 20 years old and needs advice.. john keeps getting lost in the weeds and is so jumpy.. glad Rachel was there to actually give good advice @@stevenporter863

Because John is a realist....Rachel is out of her mind...

@@toby43078or a mother that understands that’s a child and she should ease into it. 🤷‍♂️

John is so negative on this call.

agreed. this is the only reason why i watch Dave Ramsey's videos even tho I didn't like the guy lol

Lets hear about it

Only reason I listen!

He’s only 20. No much to gloat about. He has his whole life to get back on track.

​@@midlifecrisis7888Crippled before it even began. -30k net worth at 20. By 45 he'll finally make it to 0 net worth if he follows through with that degree😊

Good kid. Poor guidance. Gen x takes responsibility for this one. Nobody should let their kid take on that kinda debt without a crazy fight all the way. Let em hate you if you must, but fight them on self destruction.

Unfortunately, I know this kid and he equals a 💩🕳

@@treasurethetime2463Exactly what I said!!! Minimal or poor guidance. $32k/semester on college. If I'm his dad, there's no way in hell that happens unless I'm obnoxiously rich and paying or he has a full ride scholarship. $32k a semester. THIRTY TWO THOUSAND DOLLARS A SEMESTER!!!!!

His quarter of the semester is what my degree will cost. That's only how much I'm willing to pay.

a "good" kid pays 32K a semester then drops out? what a joke

It’s too late for this guy, but people need to know how idiotic that schooling cost is and that should be reinforced as frequently as possible.

Not really, telling the guy to work 80 hours a week. That's 16 hour days/5 days a week. What a stupid recommendation

@@ChrisP-in8qr You aren't taking the weekends off if you are in the 80 hour a week position. Still brutal but plenty of people do it.

@@frank13621 OK stretch it out to 6 days a week, that's still 13 hour days. People could do it but I bet they burn out or there health fails. Definitely not worth it.

@@ChrisP-in8qr he can work 6 - 7 days a week. it will not be pleasant, but if the work is bearable (no toxic work environment, nice collegues, what you have to do aligns with your abilites) and you are in the hamster wheel you kind of keep going.

All theory. 😂Dave should make all his personalities live on the streets for a few days without money, etc. before they hand out 'easier said than done' advice.

They've met lots of people who have.

80hrs a week is no joke. If you do that for a year or two, you might get some dirty diseases too. I worked 80 hrs during tax season years ago, oh man I am so glad I quit that job. No life no good sleep no motivation no joy. Lots of junk foods stress fatigue

During covid I did 70 and 80 hour weeks a couple times and it is exhausting. On your one day off you are so tired you can't be bothered to choose a movie to watch on Netflix because you are so tired.

I love when the hosts on this show advocate going and working 80+ hours a week and eating junk food to get your bills paid off all at the cost of possible health issues and missing out on lost years of spending time with family. Other ways to pay off huge amounts of debt just as fast or faster without killing yourself.

I was in landscape maintenance too. Money to be made, but it's hard on the body.

Seriously! I just paid a journeyman plumber $200/hr for a bathroom remodel. His 22 year daughter is apprenticing under him after realizing college wasn't going to give her the same return on her time.

Yes, absolutely. Or join the military. There are a lot of great opportunities there for school and trades, and they're struggling to find enough qualified, healthy recruits, you might even get a decent bonus.

And people fall for it and take the credit cards.

I was juggling three jobs in my late 20's and early 30's. Worked over night a convenient store, taught/subbed during the day, and worked third shift at a grocery store. Later quit the over night job and alternated afternoons at the tutoring center/grocery stores while still subbing/teaching during the day and worked summers as a camp counselor. It was hard but once I got a decent paying job I was able to address my debts and get that paid off. Still tutor on the weekends to keep my savings growing but glad I worked the extra hours when I was younger.

thats sound like a really horrible life for 5 years, i hope things have improved

I'm sorry.

He owned himself

He's in a bit of a pickle right now, but he's also getting a life lesson early in life, when he has plenty of time to recover from it. And recover he will. Meanwhile it will be a lesson he won't forget, and he'll be the better for it. Two decades hence, he's going to be in a far better place. Good luck to the young man and good wishes.

If he learns a lesson, he should be fine But it’s gonna be a long 10y to pay it off

Bethel is $20k, if he had an apartment for 6 month even at a $1000/month that would explain it.

Sounded more like Clown College to me.

I did & earned the most money ever. Bought a house & car & paid off the house before I quit job #2. This was in Calif. I kept the house after retirement. ONE paid off house in Calif funded part of my retirement. I was able to get 3k in rent. Other homes nearby rented for 3,500 but I discounted for a family. I just sold the house & am carrying the financing. More cash monthly. Work HARD when you’re young & able to do it !!!!!

Currently in my 20's, what energy are you talking about? because I can put in about 60 without contemplating if life is even worth it :/

i used to work 7 days a week when i was younger and manage to buy what i wanted while still saving i dont understand why people refuse to work extra, harder, longer something went array somewhere.....

And where did the college $$ come from?

@@presence5426 LoL. My credit card

​@@presence5426 Fafsa.

He's thinking about it himself with what Ramsey is paying him.

@@thebeegood1731 He eats lots of McMuffins for breakfast. At least 3 times this week. 😅

I have a friend, his wife work in McDonald. She get paid money than my friend.

I doubt he's quitting his car salesman job to work at McDonald's

It's a scam essentially

@@healthwithmarcus yep, only thing he got out of it was a life lesson

He made the choice. If he couldn't do the math, he was the dum dum.

@@John3.36 Normalizing the scam

@@healthwithmarcus You can live like a victim and blame everyone else. Or you can own up to it and realize that you were dumb and paid too much for college.

he that guy you don't invite

Ever heard of Caleb Hammer? Lol I agree, but Rachel was ridiculous with her CU solution. There's no way they lend him $15,000 in his situation.

Funny, I also said to myself why he was crushing the guy during this call.

Agreed! Almost tried to make him feel small. I get it, he made some STUPID decisions, but he’s asking for help… it’d be different if he thought everything was good, but he’s admitted he can’t do this alone by calling. He’s 20. If he starts now, he’ll be better off than the average American despite all this debt. This kid needs a calm and collected yet stern parental delivery. “You’re in a do or die situation. But that’s okay. Follow EVERY word I say and you can not only get out of this mess, you can thrive out of it.”

Ya because the hosts an idiot (not the woman here)

what skillsets could he even have?

You’re right! John was brutal during this call. Rachel kept redirecting the conversation to a positive outcome.

i think quitting the job he has now is bad advice.. john is so jumpy.. keep working there and get all the extra jobs when you're not selling@@cnewton6527

I agree. John isn't very good.

I agree, John needs to chill out and be more supportive.

Empathy don’t pay the bills😢

How were you able to open a roth ira for him, did he have income growing up?

​@jparekh18 They gave him the money obviously

@@jparekh18 Yup, got a job at 16 and we match him Dollar for dollar to get him exposed to investing. We are baby step #7 so we can help him.

@@Ostro1980kids can have money themselves doesn’t always have to be given, I had $17k leaving highschool I just worked at discount tire after school and the weekends

Great job with your son, you did well.

That's the real crime taking place on the younger generation, the amount of pressure put on that generation to consume, is astounding.

agreed. Also, advertisers have convinced Americans that $45-50k is the price point for vehicle purchase for middle income families. Not so long ago, like 10-15 years ago, middle income Americans would by cars around $20k and $50k would be considered luxury.

I approve this message. The freedom of begin free is a good feeling not have tons of Dedt but, you have to put on a good fight not go down the hole with alot of bad advices outside, personally, you are responsible to do your research and to shape your freedom in the world we lived in. 🙌🏼

When were you 18? In the 1950s?? Can you think of a single 18 year old in your circle of family or friends that can afford a car with cash outright?? Don’t be so delusional just cause you bought a car at 18 doesn’t mean most can!

@@seanmathis1755yes they can if they work and save.

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My last car loan was 12K and I was making 40K. This dude owes 36 on a 36 income?? 🤢

I bought a car for $2900 that runs like a dream with a 6 figure income. The obsession with expensive cars makes no sense

Yes exactly. I'm 17 and I bought a cheap beater for only 3k to get me around. It took the whole summer, but at least I won't be 30k in debt for a brand new car. I think it's so stupid how much college students I see with brand new cars that they can barley afford. Like just why. That money can be invested into better things rather than a liability. My car does what every other car does, and it's a cheap Ford Focus, so parts aren't that expensive. I don't plan to go to an unnecessarily expensive school because I want to avoid debt. I always wonder how people are in so much debt, like how? It's pretty darn simple. Get what you can afford, and invest only into what is needed, and if you want to spend, make budgets because obviously people want to spend their money but you have to spend smart. Even if i was making 6 figures a year, I still wouldn't splurge my money away. Every purchase would have a purpose, and I would have a set budget for what non important things. People at my school normally ask me why do I work so hard partime but I don't spend a lot of money. Well, it's because I don't want to join the club of endless debt payments!!!!!

@@bigstr9178 You’re off to a good start. At the end of the day, a car is just transportation. When you get to a point where you can afford it, by all means drive what you like, if that’s something you want, but people living check to check while driving expensive vehicles is ridiculous. There are a lot of ways to get the education you want at a much cheaper price, and even careers that require no college, just on the job training. Keep doing what you’re doing, not many people your age even think about these things, I know I didn’t.

They teach about trans rights and all the other crap thats why

He does!

“You just lost $14 in interest! YOU ARE NOT A CREDIT CARD PERSON!” 😂

I’d do the Uber and Lyft and forget the car sales for right now. Interest rates are crazy. Not many people buying cars right now

Dylan, the first comment is doing whats called sugar coating the crap out of this situation. This is the worst financial situation Ive ever heard a 20 year old being in. You're going to have to file bankruptcy.

Consumer Debt is skyrocketing and a lot of that is due to people buying new vehicles, or used vehicles that are still holding their value. And now you got higher interest rates tacked on to those cars. There's going to come a reckoning in this country where Consumer Debt is going to bankrupt a lot of people and when that domino falls there's going to be a whole lot of other dominoes that fall behind it. Credit card debt, vehicle deck, home mortgages, student loans, medical debt and buy now pay later is going to bankrupt about a quarter of this country's middle class.

agree about john overreacting first of all keep the sales and get something a few hours a night good luck getting 40 hours at McDonald's 25-30 tops

It’s mostly metaphorical. It’s like “beans and rice, rice and beans.” You can eat pasta and tacos or pork chops one night. It just means don’t eat out frequently or don’t eat lobster and ribeye steaks all the time. The caller can work at any grocery store or restaurant or anything else besides just McDonald’s. They can work at Walmart pushing carts for $17 an hour. I work at Sam’s club stocking pallets. Costco. GameStop. Washing dishes. Anything that pays more than his current job.

@MarctheBikeWasher - I agree, a person has to have sleep, otherwise he might fall asleep delivering pizzas or driving Uber. You can't work without SOME time for sleep. I don't care if John advises this or Dave does. It's lousy advice.

It's advise given from soneone who has never tried it. Theoretically it's possible, practically it's a literally a meme.

Lol Facts. But its bad advice anyway. He's young so no need for the desperate measures.

​@@Videpedia101 no he needs to grow up and be tough

I live in Northern California, and the highest I’ve seen on those McDonald’s signs is $16 an hour. I could only see it higher than that in NYC, LA, or SF.

In Texas, the highest I've seen is $13.

They are $17 here. The other thing is that they say "up to" not "starting at" but I do make 17 an hour at a grocery store.@@KB-sg7tv

I’m in Nashville area as well and there are TONS of signs around the area of companies looking to hire and paying on average $20/hr, and some as high as $24/hr to start. International paper in this are is constantly hiring and starts at $30+/hr. I have also seen help wanted signs at McDonald’s in the area starting at $18/hr. He’s not wrong.

He can go home and live for free and be done with this debt in less than a year. Especially if he sells the car

No don't listen to them, working 80 hours a week is not sound advice

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Women be talking

Why is it wrong from him to say that exactly?

It’s true lol

Your comment took me back to when I was a server/bartender in my early 20's, working so many back-to-back double shifts, BUT by choice, bc I was raking in the tip money. Not only did I not have time to spend all that cash, I also didn't have time to do my laundry nor even eat at home, come to think of it. Luckily I didn't need to have a roommate, but I paid all this rent money, only to spend 5-6 hours a day at my apartment; just to sleep and shower. I found it was easier, quicker, and cheaper to continually buy new but identical work clothes and work shoes every week than to take the time to do my laundry.. :) Those were some of the best and most exhilarating years of my life; from age 19 to 24 yrs old. I had so much fun despite working 17 hours per day, 6 days a week. I HAD to make "it" work bc I had no "soft landing pad" via family nor even public assistance, if I failed. I was orphaned at age 2, had no family,, abused, and exploited for child labor in the agricultural sector, and aged out of foster care homes after I turned 18. I can definetly empathize with Dylan's financial debt looming over his life; constantly undermining his own personal self-esteem. Dylan, you CAN earn enough money to pay off your debts, provide for yourself, and still have money to do good for others. Overcoming the "real life" costs and responsibilities is how you earn your personal self-esteem and sense of worth. You will be ok, You're still young but at the end of the day , it is still just money. Most millionaires and billionaires have filed bankruptcy at least one! and society and could not impede their eventual and cumulative accumulation of wealth. Never be afraid of hard work; especially manual labor. Just attack it. Go forward with bold expectations, not just beliefs nor dreams, but EXPECTATIONS of success,

That’s what I did, no college debt lol

Why? He could literally pay this off in a year or two at the most. Live with his parents for free. Sell the car for a cheaper car. And drive Uber 60 hours a week. This isn’t that extreme considering he has zero responsibilities

@@Shortballa11 yeah but do you get an m16?

@@mike7933lol i guess I didnt consider that

@@Shortballa11 Good luck making money on Uber driving a clunker.

Agreed...WAY too nice with this caller. Even I was STUNNED by the story...particularly the words 'college drop-out', at that point I had NO IDEA what to do. I really didn't know what to say or what to think. I couldn't think of a way to fix this, gladly someone mentioned his parents and him going back home to live with them.

You don’t like dr phony balony delony?? 😂😂😂

He is good when counseling on psychological issues (which is his profession). Not in this call. To be fair he was a student counselor and was fuming. But he should have been able to hold it in. He is not like that when he deals with callers asking for marriage, education and other advice. Maybe he competes with Rachel, maybe he tries too hard to imitate Dave Ramsey.

the adjectives you stated fits Ramsey to the tee.

So in other words, he is an American

@@amireallythatgrumpy6508 American capitalism is all about making as much money off of people as possible. It's all a scam to get people in debt to work until the day they die to keep society going.

In other words you haven't been watching for a while

Easy- because people are willing to pay it

​@@marklabonte2925More like forced to pay it. Especially hospital.

Right next to my house

Here in San Diego, fast food pays that much.

They’ve never heard the word no.

Can’t get a car that runs for 3k today unless you know someone.

I see $3-5k cars and mini trucks on craigslist on a regular basis. The idea that you can't get a running car in that price range is just wrong.