It STARTED! Americans Are Giving Up On Credit Card Debt

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Americans are tapping out on credit card debt as the total amount of debt hits an all time high, and delinquencies rise.
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Опубликовано:

12 июн 2024

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Комментарии : 83

@Vinny8El611 8 дней назад

People are paying 30% interest on maxed out cards. They will never get out of debt. Lowe’s and Home Depot are fixing to raise to 40% yikes

@GoldenEagleXTND 8 дней назад

Yep, just declare bankruptcy at that point. Your health isn't worth destroying yourself to pay a banker. But, 1000% anyone needs to get financial habits that will have them healthy when they exit bankruptcy.

@diego17k 10 дней назад

Welcome to renters for life society

@H.A.L96 9 дней назад

Agree to disagree we live on credit system and you should take advantage of it. People need to learn self control and financial responsibility. Live below your means and enjoy life as you please that’s all to it.

@caryphillips4885 8 дней назад

Utilizing the credit system is the same as living above your means

@marianne9317 7 дней назад

The problem with using credit cards responsibly is psycology. A lot of people are not able to use a credit card responsibly for everyday use, not overspend and paying it off every month. It takes dedication and practice if you're not already diciplined economically :)

@bradleyerickson8421 8 дней назад

People are still more responsible than the Federal government.

@estmed 3 дня назад

Pay your card off with every paycheck, whether it's weekly or bi-weekly, it will give you a better perspective of frivolous purchase that you can avoid

@Littleone77 14 дней назад

Such great information. They need to play this video in high schools!!

@aaronmoorman7773 2 дня назад

Use your cc like a debit card. Make a purchase wait for it to clear pay it off immediately dont wait for the end of the month. If you cant do that then dont use a cc.

@timbaubense 10 дней назад

Nice! Thanks!

@stevensghost945 14 дней назад

When you tap too hard your credit , your credit tap you back harder ( I know... it is a easy one)

@NolanMatthias 14 дней назад

Yep! Love that!

@angel-ij4xv 14 дней назад

stay away from credit cards

@kathleenpage8148 14 дней назад

Great video!!

@NolanMatthias 14 дней назад

Thank you 🙏

@DillanMcClorey5 9 дней назад

From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

@LannyLoe 9 дней назад

Some times last week I tried trading all alone but ended up loosing $3K 😢

@PaulSturkey869 9 дней назад

Please how do I go about it I'm still a newbie on investment trading and how can I make profits.

@DillanMcClorey5 9 дней назад

All thanks to Alex Robert

@DillanMcClorey5 9 дней назад

He is a licensed broker and a FINRA AGENT here in the States.

@AlenaValeWahl 9 дней назад

Yes!!! That's exactly his name (Alex Robert) so many people have recommended highly about him and am I just starting with him from Brisbane Australia 🇦🇺

@melgray4530 8 дней назад

I consolidated my credit card. 4 years instead of 10 years to payoff. Paying the bare minimum amount making you futher in debt.

$@geofractal$

@geofractal 9 дней назад

People using American Express Gold are giving up?

@GoldenEagleXTND 8 дней назад

Yep. I have AMEX Platinum and I'm about to give up. I doubled my salary the last two years and I still live in the same place. I have much less free cash flow now than I did when my salary was half. No one wants to provide me a chance to restructure my debts with a loan or line of credit to reduce the interest rates that I'm hit with.

@DeadIyChickentv 8 дней назад

@@GoldenEagleXTNDsound like a you problem

@GoldenEagleXTND 8 дней назад

@@DeadIyChickentv never said it wasn't lmao. That doesn't mean I'm going to not use every tool at my disposal to get myself out of it. Life happens and deaths in the family coupled with the current world affairs has left me dry. 🤷🏼. Last thing people should be doing is defaulting though. Go talk to an attorney and get a BK going.

@DeadIyChickentv 8 дней назад

@@GoldenEagleXTND you don’t feel like living within your means to save money and pay down your debt for a few years will solve it? Sounds like you just don’t want to be look down upon for sharing an apartment or working a part time job to make a dent in your debt.

@GoldenEagleXTND 8 дней назад

@@DeadIyChickentv I live within my means, Im sorry that you don't view paying for medical and funeral expenses for my father to be "within my means" Or how about caring for my elderly grandparents now that my father has passed is a necessary expense of my time nor money. I guess that doesn't count as time we'll spent. And no, taking a part time job after doing all that is NOT worth killing my mind and body and neglecting either my fulltime job nor my grandparents nor my family. I don't understand the hard on people have for making sure banks get their 400% return on someone vs just declaring bankruptcy

@kevinjoseph517 3 дня назад

student loans...debts..c cards.....inflation.

@msmith1509 11 дней назад

Great information. I am debt free. How about explaining the difference between currency and money? Silver and gold are the investments that banker use. They know. Also explain The Great Taking by David Rogers Webb. It is not consipriacy theory.

@NolanMatthias 10 дней назад

Thanks. Good idea.

@TheRealTommyBear33 8 дней назад

i have credit card debt cause it needed to be fixed my house but I have like no debt compared to other people plus I can afford to pay it back that seems to be a lot of peoples problem, stop borrowing more than you can pay back that is also a problem.

@TheOfficial_CommanderShepherd 10 дней назад

If they didn’t raise interest rates it would alleviate the issue quite a bit and people would pay them off.

@Wesley-rn7oc 10 дней назад

Are you sure about that? If they don't raise rates, inflation stays high and people just borrow more.

@TheOfficial_CommanderShepherd 9 дней назад

@@Wesley-rn7oc You will always have outliers but majority of people want to pay cards off without $300 dollars in just interest. How can you pay it off if they keep increasing it?

@milhouse7145 14 дней назад

Are there actually any Americans here?

@NolanMatthias 14 дней назад

Yep. About 70% of the audience on this channel is American, 17% Canadian.

@benedwards3427 День назад

@@NolanMatthias Bots can be setup with VPNs too bro.

@Hawk2phreak 14 дней назад

I had several tenants move out of units that needed a lot of work and my wife is on maternity leave and so my contingency fund got drained and then some. Sad to say Im carrying a load on my line of credit. Only upside is I can claim it on my taxes lol. No consumer debt though!

@NolanMatthias 14 дней назад

That’s often the hard part about owning rentals.

@Hawk2phreak 14 дней назад

@@NolanMatthias Improving the value of the property by a lot and the extra expense is covered by the new rent increases but it's still more risk than I would like.

@jayzee316 14 дней назад

Yeah dealing with turnover and maintenance/updates is definitely the part I do not like about owning rentals, but its part of the formula. I try not to use any debt for that though (outside of mortgages), typically only do upgrades based on cash supply.

@TheRealTommyBear33 8 дней назад

I would think credit not growing and starting to go down is great imo

@benedwards3427 День назад

Or the consumer mentality is driving the individuals with maxed cards to more expensive loan products.

@GoldenEagleXTND 8 дней назад

This is a good video on responsibility for young borrowers. I do think you should make a flip side for for the yoyng about bankruptcy. The older generations and financial institutions have really propagandized that bankruptcy is terrible for YOU the consumer, but its actually the best for the consumer and worst for the lenders. If tbe people based on your ecamples are that far behind on CCs, you should really just file bankruptcy. Lenders will typically stary throwing you offers 6-18 mknths after discharge. FHA mortgage can be attained agyer 2 years. Traditional mortgage after 4 years. Now, most people with enough debt to now be in default will most likely have no decent way to get out of debt in 2-4 years. So whivh option is truly worth it? I know Im not ever going to side witb a multinational banking conglomerate lmao

@deathlarsen7502 8 дней назад

AS IF any of those people will be buying a house. Just default and let the banks deal w it

@jared19882 8 дней назад

American society with any financial decisions: 👁👄👁

@NolanMatthias 8 дней назад

🤣

@elfuturomio 3 дня назад

RU-vid vested in the collapse narrative 🤣

@NolanMatthias 3 дня назад

Yep - kinda sucks doesn’t it

@frederickvalencia4976 10 дней назад

I was 60k in debt with credit and medical. I am only 5k in debt. My minium is 280 and I am putting 1.8k a month. I have been working high hrs since 2020. When people were at home collecting checks I was working 70hrs a week. On cleaning empty buildings. 😂 Great Video. Any1 else reading swallow your pride go clean toilets. Trade your time for money. If you can get a job thats 1099 not W2 because the tax breaks are better.

@GoldenEagleXTND 8 дней назад

Why did you not declare bankruptcy? You've spent 4 years breaking your body and losing time for yourself and (possibly) your family. 4 years after bankruptcy you can qualify for a traditional mortgage and even sooner if you don't already own a home, you qualify after 2 years for a FHA mortgage. Credit card lenders start throwing you offers typically 6-18 months after your discharge.

@wiserthanserpents3862 12 дней назад

Welcome to the toilet paper cash society

@NolanMatthias 12 дней назад

Pretty much

@sergest-amand1164 10 дней назад

Lifestyle expenses are experiences. A debt with interest on your credit card is just a number on a paper once a month, something abstract, distant. The ordinary consumer starts with a disadvantage here. You're right, paying expenses with cash partly bypasses this trap (and it will be more efficient if you create at least 3 different banking acounts, one for monthly expenses+grocery, one for emergencies and one for the discretionary expenses, and then fund the two first in full before putting money in the third one).