Pay Off Debt Or Stockpile Cash During This Time Of Uncertainty?? 

Congratulations

Judith Arsenault Congrats! Smart move! Now keep every penny and don’t create anymore debt you can’t afford. Practicing this myself.💪🏿🙌🏿👍🏿

Wonderful !! Congratulations !!

Judith Arsenault congrats!

Congratulations! That is awesome :)

Jarrod Medrano mannnnn just finished nursing school and now finally making money and then this 😭😟😭

Here

@@NaturallyPrettyBrownK26 get that overtime and dump it into the market. You'll thank me in 20 years

That’s been the plan all long. Can’t have too many winners running around now, can we?

yep

Your a hard worker....you blessed yourself man. Good job!

What did god have to do with this? Is this the same god that allows millions of African children to starve to death? Why didn’t he bless them? 🤔

@@millsathn i don't know why God allow some things to happen. He is God im not. He give me the chance to help people in time of need. So i do what i can to help mankind. Someone helped me when i needed help.

@@marvmarv8949 but you love him even though he allows so many to brutally die?

Seriously? If you dont know when to pull the plug paying off debt then you are part of the problem.

M Detlef I dont. I have two full years emergency fund. Just wait for Trump’s check. That’ll finally put a comma in your emergency fund.

Eddie Wow if it comes in.

Really? U gotta be so naive to even wait on a call to make sure u re satisfied about whether to pay debt or stockpile.

Aek Sinsang check your mailman if he’s sporting a brand new Rolex then for sure that check wont come in lol

👍

@Brian Waller just wait for the inflation to wipe out the debt.... The steps that the fed and government are taking will result in increased inflation

Yup 👍

@@PeskyWabbit. Exactly. You would be a loser to try and pay off your debt at this time. Even simply saving dollars is not very smart. It's probably better to convert it into a low risk asset

darte coates you do realize that thinking is what causes this “situation” to stay or even get worse. Not paying someone is not arbitrary, it’s real and it will effect everyone.

Stay up fam!

The main thing is to adapt. You’re doing great.

U r an inspiration, good luck

The fact that you feel blessed while working at a gas station says your head is in the right place. Good work

Love your positivity! Stay blessed.

Amen!

Amen this is my confidence!

Amen!

AMEN!!!!

Hallelujah

Douglas Brinkman sounds like me at the moment. I was making extra payments towards my principal but going to pause it until I know what the future holds.

Douglas Brinkman me too. I was due to pay off 10% of my mortgage in April, I’m not now.

I have a stable government job so fortunate to be able to keep going hard with debt pay off

Same, currently putting a pause on baby step 6 until this virus thing blows over, once the dust settles I'll continue and throw any extra money I've saved up into the principal.

cut back where you can as well, call Sprint or Verizon and have them cut down that cell phone bill or else..... Same for Cable

1k is a small amount Save more.

Great job, be proud of yourself, and keep going!

Same!

@Edwin This is the stupidest thing to do. Don't do this.

I'm sooooo glad I saved my tax return also lol. I was gonna pay it all towards my car note but didn't get around to it yet and Im glad I didn't get around to it because my husband and I are both jobless right now (until who knows when).

You must be new to the channel. Welcome home

Sleepingweasal He needs to keep that money right now

Me too. I stopped paying debt but was worried, I was wrong. Thanks to Dave

you're correct, that would be his normal propaganda scheme - think for yourself, like most, you're smart enough to take care of yourself. just think, people have been doing it for centuries bf this guy came along!!

I have heard Dave in the past tell people that were worried about losing their job to stock pile cash.

I'm exactly the same

Hate to burst your bubble but 10k is nothing. Better than zero, but that's not a lot of savings at all

@@marksmith5696 Hater

You don’t know how much they also have in savings. They may have more

Everyone is panicking and I'm over here buying up cheap shares. Once in a decade opportunity here.

I just paid off my debt I was ready to have a little fun. Guess its savings time and hope my money is worth something when it's over.

Me too

Wreckanize Do was I

Yep lol

Derek Dlick don’t worry 😉 it won’t be! The dollar will probably be gone by the end of the year or in the works at least. This was the plan of the FED when it was founded in 1914 by the Freemason NWO occultists. It was a debt system DESIGNED to fail!

XD

Thank you for staying open!

Same here custodail

As a store manager, I agree. I encourage my employees to take advantage of the virtually unlimited hours they can get right now.

you guys have any toilet paper? lets talk and arrange a deal ill make it worth your while

👏👏🙌amazing!! I hope other young people get inspired by you!

And the car is worth 5k

It's so sad to see so many people lose their jobs from all industries. From the oil fields to bartenders.

ashley pugh It definitely Ashley...However, we have to think positively and keep going, this is also the time of opportunity, the time so many new self made millionaires will come to market to taking advantage of abundance of opportunities in these times

@@AndreyZenperial yes, I'm still fortunate enough to have a job and be able to work home. My heart just goes out to others. Hopefully people will become creative, learn new skills and read more during these times

Zenperial I would advise people who believe and act on this to be very, very careful. People looking to cash in on the global panic are being meet with not just social but legal consequences for profiteering. There are many ways to make money when the market is in a free fall, and this is when our nation’s devotion to capitalism should be both encouraged and regulated. Creating new products in the face of this virus, taking out a business loan when the government hands over billions to banks to help small businesses, buying premium stocks that were panic sold, buying up a small business at rock bottom price because they could not recoup losses ? This is good/acceptable capitalism. Hoarding and/or selling necessities at gouging prices? This is profiteering and should be punished to the full extent of the law in a time when life is so uncertain.

ashley pugh Hope so too🙏🏻

Congrats!! 🎉

🤣 Armageddon will wait till the payment clears then hit us. 😂

Scott Campbell Praise the Lord🙏🏼

Congrats!! Although, I would recommend holding that money until this uncertainty passed. Economy is looking real bad right now

@Sir We Are About to Die $3,000 is a good start! Better than having $3,000 on a credit card.

Why didn't you just call in to the show yourself

yeah dave got this crisis wrong initially. im glad hes reevaluating

This is a common sense answer....

@@ripparoo823 almost everybody has had to reevaluate. Nobody was talking about what was going to happen in December. Nobody could have had the foresight for this. I know those articles saying that the data was there and all this but the reality is 90 times in the past when infectious diseases have popped up they have gone away very quickly or just wound up not really affecting the United States. I think we were partially as a country to victims of complacency in assuming but this was just going to pass us by I mean I work in the medical field and I have had to re-evaluate on an ongoing basis myself. There was a time in mid to late January where we thought the estimate of 1% to 1 and a half percent mortality rate might have been conflated. and we were postulating the likelihood that this thing was going to wind up being far less contagious and not nearly as big of a deal as we were hearing from China. Unfortunately Chinese data is not necessarily reliable most of the time as far as using it for our own epidemiologic purposes here

@@alexc5369 cuz he never answers calls or V mails. Also, I tagged him on IG and said I paid off my debt ($150k) and no response 🤔🤔

An experience you just can't buy and the feeling is so overwhelming .

Yes, even having just $1k in the emergency fund makes a huge difference. Especially, if it's a temporary disruption to cashflow, like when you're waiting for the unemployment checks to arrive.

I've been putting money into my emergency fund since high school and still haven't used a dime of it yet which is OK with me.

pay the minimum on everything once you stockpile at least 6 months then you start to pay off bills till then the minimum only

@Curt Christensen It depends how much you've got and how secure your job is. The goal is to have no debt, but if you've already got debt because of poor decisions, it's probably wise to pay something closer to the minimum so that you can stockpile money to keep making payments even if one does lose one's job. Obviously, it's not ideal, but it beats defaulting on debt or going bankrupt.

Lol never know, those debt holding banks may be gone in 6 months or a year. Gold, guns, fuel, food and ammo will be the best investments.

@@mopar21 Yup. If kids aren’t in the equation, pay that debt off, regardless of the repercussions.

Interest holds no mercy

@@chasestearns6670 have people forgotten about the days of high interest?

@@AussieZeKieL high interest? Good luck going back to those days. There is less physical 💸 then what the fed claims to be printing. If you don't hold it you don't own it.

Yay for you

Can you stay 6 feet apart in that boat?

Tell The Gospel! Matthew 28:18-20

carlos Gomez Good for you...I am happy for you and your family that you have a bit of relief during this stressful time. God Bless!

GOD’s Blessings 🙏🏾

👏👏👏

Your a smart Man!

Nice, congrats!

I did wonder about this as well. Whether to pay off my $900 Penney's credit card and $400 Visa credit card, or to hold on to my cash. Good advice, thanks.

@@marierouse5886 never just pay the minimum though it looks bad even if you give them 20 dollars more than minimum never just pay minimum it looks like you struggling

Amazing that I clicked on this. We owe 8,000 on bills that are 0% if paid by this date. We started paying the minimum, to save extra emergency money. Having a six month cushion feels so good.

Not really, gold is having a small dip, % wise compared to the dow, just like in 08. Gold and silver will go up very soon.

@@PeskyWabbit. I agree with you, but there won't be much supply on hand for physical gold. ETF's have not performed well recently.

@@PeskyWabbit. I think people need to focus on wealth preservation instead of growth for the next year, gold and silver may have some rocky times in terms of getting in/out without loosing 10-20%. Even if interest rates go negative by 1% on 100k you lose 1k, not really worth messing with. Inflation will be a problem when the economy comes back to life in the next 12 months, probably double what previous expectations have been.

You are better being down 2% in Gold versus 30% in the stock market.

Comex paper gold and silver is struggling. Physical gold and silver is not. There is disconnect and stackers know it. Try buying physical gold and silver now see how far u get.

My husband is retired.

I think my former would hire me back because I did an excellent job for them.

@Craig Sawyer man I cant wait to text your number! Let me guess? All u need is my ssn, birthday & other pertinent info & you can make my debt disappear too? Cant wait....😑😑😑😑

Jovan James guns are king

@@traviswolszon1476 Fresh water is king. You can't drink, eat, wear or shelter under a gun. Guns and Cash are just some of the tools to get access to the essential resources.

@@MegaBallPowerBall he can take water from you at gunpoint.

Tell The Gospel! Matthew 28:18-20

Correction: YOU changed your life! Dave only inspired you to take action!

anthony b wow nice

Same here. Keep it up and just hang tight, this pandemic from China will pass and they will foot the bill once we all get through this..

What’s a secure field... I’m a truck driver and even my job is up in the air. I know a ton of drivers who’ve been laid off.

Stockpile cash ? When the helicopter money drop comes and 300 million people dump that into the economy it devalues the fiat currency even further , Take your check and buy silver

@@rallyghost5719 Why are truck drivers being laid off? Seems like plenty of work to do.

@@rallyghost5719 secure field as in vital heathcare members, i.e nurse

@@rallyghost5719 Manufacturing toilet paper.

Just saw that ($20 barrel) - imagine it will be good for transportation, but worried about the pop up in cost of oil once Russia and OPEC stop trying to out pump each other.

You paid off a 6 year car loan in 11 weeks?

Admin he said 11 months

@@chief5981 Ok, I see it . my fault

How much do you make a year?

Another Day with A no you just pause (don’t create new debt) and when everything is good to go continue.

janereaction did your loan statement reflect the 0%? Also who carries your loan?

@@13ericaboss federal student loans were put into forbearance until end of September. No payment due and no interest. BUT be careful my loans will not provide my monthly statements unless I ask to be taken OFF forbearance. Pretty sneaky IMO. Forbes had a good article on info about this.

i wish I could up vote more than once. We are seriously over tipping when we pickup 'togo' from our favorite restaurant. My wife sent her hair dresser a check because she couldn't show up. There are so many little (and big) ways to help.

I wouldn't save it on the bank though. It's time to use the old matress... when they run out of liquidity good luck getting your money

@@AngelB32 what happens when most people can't pay their credit card bill for the next 6+ months? Whats your opinion on what banks will do?

@@jdaza1987 The Fed cut rates and here in Europe they are negative for some time now. If you search what's going on in the repo market and the measures that were taken this week, you will see that the banks are in big trouble and manyb of them are going to fold. The government when that happened here in 2008 basically assumed the responsibilities and assets of the banks that folded. The taxpayers were left to pay the bill and most of the assets were toxic. The card credit if you have some money can negotiate cents on the euro. If you loose your job the ammount is secured but most banks own the insurance companies, so they are gonna fold to. This happened in my country in 2008 crisis. America system maybe different

@@AngelB32 I agree..at least not all of it. Just in case there's another unforeseeable situation where u cant access your money...could happen...

@@prentices2737 here we have a 100 000 euro garanty of payment from the government it's not that risky if you can wait until the claim gets processed. The American Fed is throwing the kitchen sink at this. Everyone gets a bailout, and the Taxpayers deal with the inflation and foot the bill 🤦

why?if u dont mind pls explain as i dont get this mindset of buying as there are ample food and stuffs.

@@brian5682 Because the President may put the whole country (or parts of it) in total quarantine making travel illegal and causing supply disruptions. Stores will empty and food could temporarily be hard to find since everyone will be hoarding it. Also, China threatened cutting off the US imports of pharmaceuticals. China supplies the US with 90% of our medicines

@@brian5682 Most stores in the US have empty shelves when it comes to actual nutritional food. lots of junk food available, but things like meats, poultry, can be difficult if impossible to find now.

😘

David then the moment you walk into work a bunch of people coughs on your face. It’s like Russian Roulette but it’s made from Chi-nah.

Eddie Wow Haha, except that I’m a Radiologist so I actually don’t come into contact with patients. I sit in front of a computer all day interpreting MRI, CT, and X rays. So from a doctors perspective I’m relatively protected. However, those ER doctors are really putting their life on the line, lol.

ADR8 NALIN me too. I feel sorry for those that will lose their jobs. 😌

Pinay US Nurse wrong emoji used lol

Pinay US Nurse you’re just an LVN though

Eddie Wow what’s it to you

Tell The Gospel! Matthew 28:18-20

Best of luck to you. Hopefully you will get back to 100% pay soon.

Grocery Stores, Medical Supply, Food Delivery, Rocking Really Big Revenue right now

Robert Safuto Worse than the government shutdown

Zach M way to go 👏

Candice May stocking up doesn’t take thousands of dollars. Unless you’re one of those people that panic buy at Costco. Plus you have kids (plural), you shouldve prepared better

Eddie Wow The reality is this took us all by surprise. No one was prepared for this.

Candice May you are the problem there’s no need to stock up your children will be fine ffs

@@90kevin20 She is not the problem. Everyone should be stocking up on food. Cities across the US will be shutting down. The only advice for all of us, is we should always have atleast 6 months in savings. That way when things do get bad, you can stockpile even more cash. That way you're not worried about survival, you can look into investing more during these hard times.

Shelley Sheri I don’t think you people understand none of that will matter if they were to shut it down. There will be chaos and murders in everywhere you are causing your own demises over a few 80 plus years olds dying from the flu ffs

What is a normalcy bias?

Shiver Things are back to normal and things are good, so there appears that there is no future disaster in sight. As a result, people don’t see the need to prepare.

@@TitanicTom1912 I see.

Ask yourself “what would the adult Briana do in this case”?

Eddie Wow you’re right. I’m going to pay it off and get it over with. I hate having this debt 😩

My job is secure. I also picked up a second job delivering groceries for Shipt - and that’s booming now. I thought about pausing on my car payments and instead save that money, but I’m going to keep forward to trying to eradicate all my debt, except one student loan by summer 2022! I made so many stupid decisions in the past. This channel has really helped me with my personal finances.

@@BokeemWoodbeezy It's great that you're able to get extra money right now. I think it's best for us to keep pushing towards our goals. Good job and good luck!

@Pablo Sanchez I am a healthcare consultant

Tell The Gospel! Matthew 28:18-20

Tim Lwig telecommunications ?

Healthcare probably.

Amazon safety Manager 😂

Tim Lwig stay healthy for us, please.

@@timlwig5367 I'm a Level 4 hourly Amazonian. I'm taking advantage of the $2.00 hourly increase and double pay for overtime. And I work from home. 😉

Richard Skipper you are completely ignorant, sir.

People have said a recession is looming for years now. Push pause on adding further worries into the lives of people, especially considering the great uncertainty of whether a recession will come in the coming months or not.

Tommy Modec the male brain staying opptomistic, until the very moment they realize THERE IS A REAL PROBLEM.

Tommy Modec “In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock).” Is this a good description of people not going outside? Maybe I’m off base?

Stephanie P My only critique of this comment is that I think you miss spelled ‘opportunistic’. Tony Robbins fan boys running around like wolves who smell a sick elk in the dead of winter. They could at least pretend their motives are altruistic, make up a bs story about how they saw the pain and suffering and just wanted to help humanity. Instead they have no shame at looking at the world like it’s a walking 100 dollar bill.

@Sir We Are About to Die I literally can't, lol. Instead I'm shopping based on only two criteria... Cheap and nutritious.

Um... What

Actually people feel the weight of their debt now more than ever!!!

People will start feeling this debt heat especially now...

Agreed!! Breaking free of the debt cycle is the only real path to financial peace ✌️ We will have to create new forms of economic growth and revitalize the value chain to not rely on cripplingly high consumer debt to finance growth

Hyper-inflation will effectively wipe out all debt (along with the purchasing power of all that cash people are hoarding).

Amen

YES LORD! PREACHHHHHHHHHHHHHH

How?

@@gordongoodman8342 put God in his proper place the head of the table

Gordon Goodman Luke 6:38 "Give, and it will be given to you. They will pour into your lap a good measure-- pressed down, shaken together, and running over. For by your standard of measure it will be measured to you in return."

Steely Dan the people who eat tide pods and snort condoms are becoming adults now. These dumb questions will be the norm pretty soon

Was the question really that dumb? We went from being told to pay off our debts asap to maximizing savings in a matter of days

And everyone that listened to him and helped create the index fund bubble threw their money into a FI/RE while smart people cashed out. Smart people took on as much debt as possible.

squarecracker what’s wrong with FIRE?