Right, for that reason alone going thru a BK cycle will not do much for her. BK is good if: 1. the charges are older and not being added to 2. you have some extenuating circumstance, like a divorce, death or lengthy unemployment in a recession. 3. you have made a good faith effort to try and keep up the payments until recently. 4. if you're trying to save a house from foreclosure. Don't have excessive cars. Have no spending on cc's, or if there is, it better be for groceries not a Chanel bag. You will have to pay your BK attorney in check or cash, 'cos they're not stupid either. Will cost around 3-4K.
Some of them, for sure. And I'm so happy people like Caleb are there to help them and they're willing to get help. Some of them are just attention seeking and there is zero guts and vulnerability in that.
@@JaxLittles100%. Her demeanor seems like she could actually take him seriously, though. Hopefully, she takes the advice she's getting to heart. Some people just try to put it out of their mind and need someone to give them a wake-up call
@@JaxLittlesthere’s a couple that are just there because they want to be an influencer. Remember juice girl? She showed up on my insta feed talking about how she has pay pigs. How she sells açaí bowls by day, humiliates men by night.
@user-fp1pr4jx6d And the people that have student loans wanted everybody to vote for the guy that made it so you can't get out of it through bankruptcy.
@@dontmatter966 no they will literally take it from your taxes/wages in the future. You will get no tax returns as the IRS checks first, sees your federal loans, and takes the money.
I’ve used it when I was sick or didn’t have a car, it’s really nice when you need it. Also great for when you started cooking but realized you forgot something but you don’t want to shut everything off to go to the store, then the $10 extra for delivery and tip is worth it imo. Food delivery and courier services have been around for a while now.
Bingo now we regular working ppl have to add these entitled brats who don't understand the concept of responsibility billions and billions of dollars to our impossible debt of 35 trillion. All while the US economy is literally in the midst of massive amounts of inflation and Interest rates which is only going to continue to bury us. What a clown show
Forgiveness was only for 10k! Lots of people have 100k+ student loans. It was predatory lending. You f wellsfargo did what the colleges and government did senators would be having a field day.
@@C20H25N3ohforgiveness was also for those students that went to for-profit schools and were forced to drop out before graduation due to financial aid fraud by the financial aid department.
I was going through a very contentious divorce and became ill. Part of the reason for the divorce was my ex's spending. I had to claim bankruptcy. Was the best move I could make at that time. That was 14 years ago now. My credit score is above 800. I have no debt, i even own my home outright. Bankruptcy can be the correct choice.
@@heimbiggysmallzit’s credit karma and we can be generous and say his answer of 816. So realistically it’s at the least 760ish. I’m saying its at the least. More likely it’s around 776-780. Credit Karma is known to inflate your points by some when compared to other finance company’s like Experian, Equifax etc
I paid all but $900 on student loans. I started with tens of thousands. I worked almost 40 years and went back to school after 30 years of work. I paid huge payments to try and get it paid off, but became disabled about 5 years ago. And I still made payments even when I didn't have to. They sent me a letter stating they won't accept more payments because I'm on SSDI now. It was a huge relief.
As a delivery driver, i would often take 3-5 minute deliveries. That was 4 dollars plus an avg 5 tip. Dont get me wrong i was thankful, but it was a shame to see people (in my eyes) waste money.
I personally did it because I had been very sick, nearly stuck in bed sick. Then I got lazy and kept doing it. I completely deleted my Door dash app now.
Lol I am one of those people. If I ever order food, I tend to choose based on how long it'll get here. Whether I'm injured, doing laundry or drunk, I'll always give em 5 bucks because I want them to prioritize my order. Oddly enough, now that I make more money, I don't like ordering food anymore
I knew people who would buy a coffee every day from GrubHub. The delivery fee + tip would make it like a $10+ coffee. They would rather spend twice as much on a coffee than just go down an elevator and walk two blocks
I really like this guy's very blunt...that's what these kids need. My dad told me at a young age...you have to learn how to do and be responsible...because I'm not going to be here to help you...
Funny story about student loans: when my dad passed, he left me an inheritance. The one responsible thing I did was pay off my student loan. It should have been an easy thing to do since I had the money. But when I called to arrange the payment, they tried to get me to set up a new payment plan! I had to actually get snarky on the phone to get them to accept the payment in full! I told the woman that she could either accept all or nothing, that I would NOT be making a new payment plan because I was prepared to pay every cent of that debt right then or go blow it on something stupid. Finally she LET me pay it but it was like pulling teeth. It was ludicrous that I had to demand that they take the money that I'd owed for over a decade at that point!
It is the same when buying a home or buying a new vehicle. There is BIG, ridiculous money to be made in the INTEREST on the loan, the principal isn't the goal.
I have a friend like her. He is drowning in debt yet he still eats from restaurants and doesn’t hold back on buying bs. I really can’t understand these people.
I share your confusion, mostly, but i believe that these people are lazy and incompetent, mostly the fault of their parents not instilling into them, the accountability, responsibility, respect, and knowledge it takes to conduct themselves as adults. As a male in his mid 20's, i can confidently say, that Gen X and Millennials were TERRIBLE parents to Gen Z and Gen Alpha, in general. Absolutely terrible parents, and thats how we got here.
@@MyMomsADadNow I think it is a math thing, only people I know have this problem don't use basic maths when shopping. They don't know how much they spend on (insert brand) coffees a year, the don't know that this visit to pub cost them literally fifth money they have left for the month. I always assumed, the only solution is to take away their electronic payment/banking ability and force them to shop cash only to see the money as physical items and how it disappears in their hands..
@@ladislavseps4801 I agree with you, but I think it's the fault of the parents for not teaching their kids about financial stability and responsibility. Math is a part of it, but not paying attention is the thing that's killing people. Cheers.
Sometimes spendthrifts can be great friends. Especially if they are always upgrading their tech stuff! If you don't mind being slightly behind, you can score great TVs, collections of DVDs, three year old gaming computers. I haven't bought any tech (except this $30 Samsung phone, smashed the screens of 5 "inherited" phones in the last couple of years, oops) in twenty years, and you would think I am an idiot spendthrift if you saw my stuff. I estimate I have at least 4000 DVDs, so I only stream Prime, because my next door neighbor let's me use his account.
These people live exclusively in the present. They don't believe in their future. Every day is just another day survived, there's no plan, just "enjoy yourself now because later is someone else's problem"
Honestly met someone like that indirectly. Colleagues family. Before he passed I know his kids ordered food out everyday and forced him to live in a different apartment unit with no acknowledgment of the difficulties of money and what to pay off. After he passed they received about $250,000. They had a $360,000 debt. Instead of going to pay that debt they spent the money on vacation, eating out more and buying luxury branded winter wear. Then they have the audacity to not know how deep shit they are in and Blame everyone else for being poor.
Only poor people eat fast food everyday. Young people cant even cook no more because they grew up on fast food. We have had a whole generation raised by single mothers who cant cook.
Of course not, he's probably got an assistant the company pays $52k a year for that function. Also, it came in clutch when I got my brother coffee while his wife was in labor 4 states away.
I was in DEEP debt somewhere between $60 70 K and no assets to show for it, almost did bankruptcy. But I buckled down and lived cheap cheap cheap for 10 years! Took the bus, when I did buy a car used prius, roommates, cooked at home, shopped thrift stores, wear sweeters no hear for me, library no Netflix, no credit cards. I am not saying do this but I did, go coffee shop get on wifi download movies, I pay for them now but I was desperate. Gave blood plasma twice a week for years! I do property management so half tube of toothpaste and old furniture, half mustard and anythingI could use people left kept that. Did that for 10 years and paid it off, it can be done. I still live cheap, put on a sweater instead of heat, look for deals, keeping the used prius going. But my money I keep and I make it work for me instead of me working for money.
Awesome but if it took you 10 years to recover you probably should've gone bankrupt. My pops had to do it when I was young due to the 08 crash. We recovered in about 5 years but during the 5 years it wasn't only tough for maybe 1.5-2 yrs. He was a truck driver so when work stabilized we had more cash in hand now that the loans were gone. Should've consulted someone
Just remember that when people complain about how bad they have it, and how they NEED to be able to steal from their fellow citizens in order to survive...that they routinely throw their money down the toilet for luxuries they don't need.
0 seconds ago The amount of poor people I delivered to when I worked for door dash was wild. People would pay $13 during covid for a SINGLE McDonalds coffee drink, tip included while living in the projects. Blew my mind.
Yeah, i don't understand. Are these people so busy that they can't go get their own food? It's not hard or very time consuming, and it saves you a ton of money
They see one of those, “I loose time/money by driving to to the grocery and preparing my own meals.” But don’t make enough to loose money, ends up loosing money lol
Door Dash Jersey Mikes can be replaced with cooking yourself, and feed you for 2 days, instead of 1 meal. You have to buy ingredients a little at a time. Rice, pasta, peas, corn, seasonings, and eventually you will be able to make cheap meals that are very good. With Door Dash, you are paying for delivery, and them making it, like you have a maid. If you are in debt, you can’t afford a maid! Once you stock your kitchen, you won’t go hungry! You can make sandwiches that are not as good as Jersey Mike’s, but you can’t afford Jersey Mike’s! You can have 6 good sandwiches with money left over. With the leftover money, you can get something towards your next meal, like spices, or beans. Bottom line, if you are not rich, don’t eat like you are rich, and someday you will have savings.
Living frugally can help pay off debt faster and set you up for financial success in the long run. It's all about making sacrifices now for a better future later.
As a loan officer for a bank I can tell you right now that you’re not going to be able to remove those student debt during bankruptcy, Uncle Sam wants his money, people try to get around this by taking out personal loans to pay off student debts and then filing for bankruptcy. The moment we see student loans in your credit report most banks will run away and decline your loan and never tell us you’re using these funds to pay off student debts because we will automatically decline your loan.
@@TheAlchemist1089 L take. Yes you should. Fuck predatory loan practices. If you cant buy a beer, or a damn car, you shouldn’t be able to sign up for hundreds of thousands worth of debt for a *chance* at earning a degree. You are forgetting most these kids are fresh outta high school and have absolutely no financial knowledge or real world experience. Or credit for that matter. Quite frankly, it’s disgusting. But keep regurgitating bullshit you hear from rich asses getting richer off this system. Its exactly what they want.
Every time I think of ordering on Uber or door dash after I see how much it is, I'm like yeah I'll just go cook some shit. $30 for something that's $10-$15 is insanity
After working for doordash, Uber eats AND Uber, I have just one thought that makes any temptation of ordering delivery go straight out the window. Someone is making a living off of something I can do in less time and for less money, and in the end my food is gonna be cold Boom I'm up and I'm getting it myself or cooking at home
Applause to pointing straight out that choosing to live a more expensive lifestyle is not being "unable to make payments". I swear... People be having people hand deliver them food for premium prices through their smartphone and think "I'm destitute"... Peak western privilege... Really need to take a look at non westernized countries and what real destitution looks like, or even read up on the great depression.
Thank you reading this comment makes me feel less crazy I live in the Midwest and people that complain about “being broke” and “never have fun” don’t even cook for themselves……………. Americans
I saw this so much as a kid, my family wasn't super well off, but we didn't live under insurmountable debt. At the same time, despite having the ability to buy things, we chose not to because it wasn't necessary to spend money on games and otherwise for no reason. Other kids? They'd have the newest games and toys and everything and they and their parents would regularly complain about how they never had any money and how life was so hard. Dude stop spending money then! Bad financial decisions leads to bad finances?? Who knew! Kids thought I was crazy
Yes people live alone in 2 bedroom apartments, eat out or delivered food all the time, drink Starbucks, decorate their place to match IG, buy fancy clothes, finance cars and then complain on tik tok that they can’t afford to live 😂 💸
They've done it for everyone else. And every single time the people they bail out fuck over literally everyone but themselves and the company that got bailed. So you and America look pretty stupid rn. But I'm sure you'll make up some excuse bc most Americans are boot lickers to the wealthy.
Dude, she's in need of some serious changes. Learn to cook those sammichs. Me and wife(since I've watched hammer) have cooked 90% of our meals, budgeted beyond what I thought was possible, and even started some entrepreneur stuff. By the end of next year, I'm out of debt with half of what I want for a house. Spending is fun but saving and smart investing is possible while living a full life
@@coopercoming8524right me too. And the place I live at I can’t really cook. I try to buy strategic takeout and instant oatmeal. I make basically too little to budget. I am absolutely stoked if I have double digits in the bank at the end of the month. I’m thinking about trading a selling everything I own to live in a van and shower at a gym for a few years to save for a mortgage so I can live for less per month and actually cook food.
"learn to cook them sammiches" That's your solution...that's the best solution that your brain could come up with I'm assuming. Watch me poke some holes in it with such ease that I'm able to do that while watching a movie and writing a novel. 1) groceries are just as expensive as getting a burger at a fast food place because they are able to save by buying in bulk. 2) when would you expect someone to find the time and energy to cook that dinner exactly?
Swear because broke people have a wasteful mindset and DoorDash is beyond wasteful. It should be like emergencies only. Only time I ever ordered DoorDash I was alone at home and pregnant. Couldn’t drive without puking.
@@handleyobusiness Not to mention school does teach you the fundamentals of everything you would need to know. Knowing how to read and do math is all it takes. These people just don't care to apply themselves to the information found all over the place.
This guy is generating content. Don't take financial advice from someone who 1. Doesn't know Federal student loans can't be discharged through bankruptcy, and 2. Looks like a friggin soup sandwich. Like they told me in boot decades ago: "You need to stand a little closer to your razor." It's dangerous to take advice from someone whose goal is to generate bombastic content.
My husband got bankruptcy when we got married, 7 years later his credit score 740, he is approved for all kinds of loans ( including house mortgage) there is a way , bankruptcy not as scary, it is more how you label yourself. And if you do bankruptcy you must change how you manage money otherwise nothing will change.
Wen I bought my estate a squatter who grew up on the property across from mine was living in a shed on my property, he ended up there because wen he inherited his share of his parents money 1 million plus a share of the property instead of paying his upkeep he spent it on eating out for every meal for years until all his money was gone and he owed his siblings so much money they sold the property and he became homeless. The man inherited a fortune and spent it on fast food, liquor and cigarettes in one of the most economically prosperous times ever.
I did doordash for a while for some extra money and it's actually unbelievable to me that anyone orders on there, shit is wildly expensive. I'm not poor but I'll still never order doorsash just out of principle.
Yep I'm never doing it again. Not only is it wildly expensive, but those drivers are getting robbed. So if I order then I can guarantee that I'm getting robbed and the driver is getting robbed, unless I leave a damn good tip and then I'm robbed TWICE
This is BS. Bankruptcy is a consolidation of debt at a reduced price. And if you own assets they’ll seize them all to put towards the debt lol. They set up payment plans and garnish wages. It’s definitely not a free pass
The other thing with the Federal student loans specifically is that they have stuff like Income Driven Repayments, where yeah maybe you can't make a full 300 dollar payment per month but you can get it knocked down to maybe 50 dollars a month, or less. That's not excusing this particular case because it sounds like she has the means to pay the full amount with proper budgeting, but there are ways to make those payments and not be delinquent on them without feeling like they're debilitating.
I was raised in the US but I've lived in Europe for many years now, and now that I can look at the US from an outside perspective, the amount and frequency that Americans get fast food is absolutely insane. Like I bet if you polled thousands of Europeans on how often they are fast food, it would be 2, MAYBE 3 times a year. Any that's good because it's trash! There is this insane culture in the US that has people thinking it's normal and somehow okay to get fast food every week, or even MULTIPLE TIMES A WEEK. Literally throwing some pasta in water and heating up a jar of Prego costs a quarter the price and take 10 minutes or less to make.
2-3 times a year? maybe ppl obsessed with fitness, but here where i live in central europe ppl eat out regularly. the difference might be that because i have 10+ restaurants in walking distance, Me, and others would choose a nice restaurant instead of garbage fast food. its still eating out and not at home.
@@Dmaoa that's why I said eating "fast food" and not "eating at a nice restaurant". The difference between eating salmon with a side of vegetables at a local restaurant is very different from eating McDonald's 2-4 times a week, which is what I see most of my American friends and family do.
America is so full of extremes. You do truly have people who could cut all fat and still not even afford a box to live in, then there are other people who claim to be broke but always have the newest iPhone and starbucks in their hands.
For sure, and then people see the fake broke ones and it reinforces their false opinions about how its a choice to be poor. For some people, sure, but certainly not everyone
For real! I had a neighbor living above me and she would talk to me about struggling financial wise yet I would see door dashes of ONE single large orange juice from McDonalds 😂 or Pizza...pizza...alllll the time!!
She’s already got herself in therapy for her spending and is actually working on finding the root cause of her blowing money. I think she may actually take in what he’s saying. I don’t think this snippet of their conversation really adequately shows her. She could absolutely not take anything in, but I think she actually might.
@@bgrego88 you can have that hobby just don’t do it to the point where your pulling loans just to pay your bills I honestly spend way too much money but I’m not using credit to do so im using money I can comfortably spend
@Jaybird913 blowing your money at all is the problem, the 1st thing we learn is how to spend, the 1st thing we should learn is how to make what we earn pay us
He's like the young Dave Ramsey. I'm so glad my parents taught me to never spend money I don't have. With some of these people I feel like they could benefit from a 3 month stay in a camp, like (a good, education based) "fat camp", to learn the basics of budgeting and homemade meals while staying away from temptation
Bankruptcy truly is not as bad as they make it out to be. As long as youre in a stable living situation and dont plan on buying a home for 7 years, bankruptcy can absolutely be considered and it is not as traumatic as people make it out.
@handleyobusiness as I said, if you have a stable living situation it shouldnt be a problem. That being said, if you were needing to move after a discharged bankruptcy, it would be ideal to have a cosigner that trusts your ability to make payments. If that's not an option, I'd seek out a private landlord rather than a management company as those types will be far more lenient as long as you make your payments.
@@handleyobusiness if you're coming from a divorce and have a excellent history up to that point, most landlords are pretty understanding of circumstances.
49 YRS OLD... NEVER IN MY LIFE HAVE I HAD A CREDIT CARD...AND MY EDUCATION IN 1994 COST $400.00 I MAKE $60.00 AN HOUR AND LIVE ON THE SAME STREET I WORK ON... NO NEED FOR A CAR... EVERYTHING I NEED IS A 10 MINUTE WALK INCLUDING THE BEACH...AND MY JOB PAYS MY CELL PHONE BILL... YES PEOPLE MY LIFE IS SINGLE NEVER MARRIED NO KIDS ...SWEETER THAN APPLE PIE... THIS VIDEO IS A PERFECT EXAMPLE OF PEOPLE THINKING THAT THE MORE YOU PAY FOR EDUCATION THE BETTER YOU LOOK... ONLY COMPLETE FOOLS THINK LIKE THIS... SHE WILL BE IN DEBT UNTILL HER GRANDCHILDREN ARE HER AGE NOW...🎉🎉🎉🎉🎉
Fun facts about bankruptcy: 1) The emotional "trauma" is way less than trying to dig yourself out of a hole. 2) The credit hit is amazing low IF you pay your minimums up until the time of bankruptcy. 3) The main reason your credit goes to crap is that you wait until you're way way behind on payments before doing so... that's the WRONG way to do it. 4) Declaring bankruptcy without a way to cover your expenses is pointless unless you're being forced to. 5) You can buy a house 2 years after a bankruptcy, often without a major hit on interest rates. After my bankruptcy, I had 690 credit score, in 1 year it was 730. I paid all my bills up until the time of bankruptcy. I was 28 at the time. 2 year later I went to medical school.
1) would you work to pay off a loan that you might not have to pay back at all? If so you're not intelligent. 2) do you know why they paused student loans in the first place??? It was because goods and services went up and so did unemployment...
I worked at Starbucks... someone ordered a single cookie through ubereats... the ordered came up to a bit more than 7$... 7$ for a single cookie.. and they probably tipped the driver.. people are insanely stupid with their money
I’m not going to lie, I had foot surgery and couldn’t drive for a month. So yes, I used Door Dash on occasion and it killed me having to spend that money. The fees are outrageous.
It just shocks me that people can be this bad with finances. I am actually terrible. I have adhd and my impulse spending on a hobby that I'll only have for a few weeks is horrendous. Yet somehow I manage to save more with a lower income than these lunatics. It blows my mind.
I feel the same! I have spending problems for sure but even at my worst I had a cap on how far I could fall. If I got close to my mental limit I buckled down and paid everything off, and I always had a rainy day fund somehow
@darealrulezbreaker9493 The process took about 2 months from when I filed with the lawyer, to the judge saying it was accepted. As far as what you own, you pretty much need to sell all of your assets, but at the time I had filed, I had just gotten divorced, and covid hit, so I was only working part time, while having to move back into my mom's house. Had to call my car loan company and forfeit the car, and I had nothing else to my name at that time.
@darealrulezbreaker9493 Well, you have zero credit cards, so as long as you're earning money, you can buy things with what you earn. I haven't opened a line of credit since, and that was about 3 years ago.
@darealrulezbreaker9493 it's depends on what chapter you file. For a chapter 7 you allowed to keep your vehicle and home but if you owe then you still have to pay for it so you keep those items out. For a chapter 11 then you include everything and they will make you only pay a certain percentage and you will be on a payment plan. General around 5 years I believe
Sadly I know a few people like this close to me and no matter how hard you try to help them they will never ever learn or fix their problems. They will attack you for trying to help too bc they don’t think they have a problem or don’t want to accept it.
28 years old. Didn’t go to college make 106k a year. Glad I didn’t go into debt. Unless you want to be a lawyer, doctor, engineer, go to work and get experience. Experience will do more for you in terms of wages. Don’t jump from career field to career field pick something you can bear doing, get good at it and stick to it.
You are going to realize soon you will work your whole life away 52 weeks a year for 30 years buddy. Crazy how no one seems happy at their job no matter where they are working or how much they make. I've seen it all.
Bankruptcy won't do anything for those student loans. Shes chained to those for life. They aren't going to get forgiveness we need to accept that. I feel so badly for people with student loans. With those payments and high interest you may have just not done college at all. You aren't really making more money, you just have more debt.
@@CZProductions most degrees aren't in majors that will yield increased earnings though. You're the exception, not the norm. Psychology is the second most common major, there's not much to do with that.
@@earthstar7534 Last I checked the earnings of people who had a degree was 84% higher on average compared to those with just a highschool diploma. Sure, some degrees are useless, but on average they yield results
I don't feel bad for them. They decided to take on that massive debt, they get to own it. They choose gender studies or arts or whatever as their degree of choice at some prestigious college? No sympathy
Watch the full episode. She's spending hundreds for a Drake concert, 100$+ for makeup for the concert, etc. and she's complaining she has no money (and has a small child).
@@cdavis7529 The fact she is getting delivery food is entitlement. I can easily afford to get delivery yet I pick it up more than 90% of the time because it is cheaper. I then use that money, along with other ways I save, to secure my future. She is lucky the government is stupid enough to let her get away with it rather than garner her wages within a few years of her finishing the degree we paid for.
Caleb is right, Bankruptcy is not for people who can't budget or who refuse to cut costs. In this case, she would of just started over and did all the same shit
15 years ago I gave advice to my apprentices about saving money. And that I wish I did. This year he turned 40 and just bought the company and thanked me by giving me 1500 for each year i worked there as a thank you bonus. Part of me wishing I was him.. but I am glad I helped him more.
This channel is the reason (not the sole reason, trust me) that I graduated high school and went straight to working because money ↗️ is better than money ↘️ right off the bat. Even if I took a gap year I've made enough money already to pay for community College classes out of pocket so call me stupid I welcome it
You are very smart. Seriously, good job. Adults telling teenagers to go into debt for life for a piece of paper that may or may not make enough to pay back the loan is insane.
"You could. You're choosing not to because of your spending". Amen. the number of people who aren't paying down their loans because they are spending money are random crap is insane. I knew a guy who had been out of school for 20 years and would skip payments meanwhile he would buy hundreds and hundreds of dollars worth of pop culture clothing, pocket knives, eating out etc.
Seeing stuff like this REALLY makes me feel better about my finances. I currently live paycheck to paycheck, but im slowly building a savings, have next to no debt, and i keep my CCs paid off. The only things I'm actively paying on are my gfs phone, and i used this thing called affirm to get a ps5 and switch. Other than that debt free
Nah he’s got a good point, a lot of people think they are broke or in debt but in reality they just haven’t been making getting out of debt their priority.I kept finding extra money when I cut back on drinking and smoking🤣my main issue until recently is just weed(25$ a week) and fast food(200$ a week💀). I talked to my mother about it over the phone and she’s been sending me meal preps (65$ a week) it’s saved so much money🤣
Bankruptcy was one of the best decisions I ever made (having gone through a huge financial mess - always make sure to have a fully funded emergency fund bc when it rains it pours!)… however student loans are NOT bankruptable and so I still have those. The rest was a huge relief and able to get back on track. I don’t need credit rn - we filed after we bought a house, we have 2 paid off cars, and my husband didn’t file with me so if we absolutely needed to we can use his line of credit. But so far being almost debt free except for a bit of medical debt, our mortgage, and student loans has been a blessing.
One of my friends went bankrupt twice, and was looking into it a third time before she died. She was not even 60 years old. Sad. Such a wasted life. Mental illness and stubborn refused to listen to others
It may seem like common sense how to handle money....such as, your bills are top priority...before fast food and small luxuries like that. But if someone was never told that by their parents/peers...i can see how many many young people end up in this situation! My son is 15 and just started his first job 4-5months ago and getting $4-500 checks..he was excstatic and first initial thought was to spend spend spend but i told him "Nope, were putting half of this into various savings for different expenses(clothes, phone bill, gas money, emergency and normal savings)whatever is left is what you are free to spend on what you want!" He is so proud to have money stored away and makes him feel good.
A Ex of mine had 50k in card debt at 35 years old she had to move back home with her mom with 3 kids she couldn't afford anything but would bring it up all the time how broke she was and bitched at me for not having any debt at all ever
