@@liberator9248yea I don’t see the point of paying off my house. I’ll still have $900 per month towards taxes and insurance. I’ll only cut out my $680 p and I and I can tell you that $700 per month will never make or break me. If things get bad for whatever reason, you entertain social programs and bankruptcy. House main cars and retirement funds are all protected from creditors so long as you can keep paying the bill. If not, you move on.
So what's next? Where do you invest if no house debt and zero debt overall? Everything seems to be overpriced now. Just save n save $ i guess for now. Any recommendations? Thanks
I am not making an excuse for the credit card debt, but wages have been like pond water for decades. My grandma-in-law retired from a company making $20 per hour in 2000, the same hourly rate this company pays today, 23 years later. This problem is much bigger than people are just swiping their cards too much. I am glad I do not have this problem, but I am not narrow minded to say these people just charged themselves into debt. For Jade to say just find more work. Come on. For Rachel to act like she understands is bonkers. Rachel went to private schools, college on Papa Dave's dime, and she works at a company Papa Dave founded. I am not saying Rachel should not take advantage of the opportunity laid out by her father, but to act like she understands and has the answers on how others should get out of debt is ridiculous.
Where I live, scammers put chip readers in the gas pumps. I'm not comfortable using my debit card everywhere. Just stick to your budget, and pay off the cc each month.
I started bartending and serving again to get my car paid off and it's insane to me how busy we are all the time. I watch people go deep into CC debt everyday and it pains me.
t.u. so tired of getting smacked on for being responsible. they treat have a credit score and being responsible as a moral failure. what up with that?@@thinkforyourself9334
lol thats what all the people who are in debt started. just pay it off each month. if you can do that why would yoi ever want a credit card????? iys literally cheaper rates to go to the mafia than a credit card company lol
That's why I recommend at least $10K in an emergency fund but when I say that, a lot of Ramsey fans will come out of the woodwork and say $10K is too much to have as an emergency, blah blah. Have y'all seen the cost of things nowadays? $10K is the bare minimum you should have as an emergency fund. $10K can be gone in an instant.
Definitely. $10K should be the minimum emergency fund amount. $10K is literally nothing today and is spent quickly. So $10K emergency plus 12 months salary equivalent must also be tucked away. This should be the new standard of minimum numbers given today’s inflationary rate and overall cost of living.
I wouldn't be embarrassed to have a legal, legitimate job. That's better than being a thief, stealing or robbing people out of their property or hard earned money. Never ever be embarrassed to have a job.
I am a cashier & I have been doing it for over a decade. I don't find it embarrassing at all & it's part of who I am now. I actually have good relationships in my community because working with the public forced me an introvert to get out of my comfort zone & meet people. In many ways, having lots of connections with people I met at my job over the years has paid off in ways you wouldn't expect.
“Most people are broke, most people look good” - Dave Ramsey. And these same people can’t even cover a $400 emergency, it’s sad. Yes times are tough but our society needs to change. It’s all about instant gratification. I’m glad I was raised to work hard even as a young kid because America has become entitled.
Yet your generation gives us flack for not being married with children. I’m glad I’ve quit caring about others’ opinions in my 20s. I just run my own race.
This is just me personally but I believe that part of being disciplined is checking our pride. Many people in your position still find themselves SUDDENLY in debt because of one situation or another. This leads me to determining that being disciplined would include ditching cc’s because I know of the risks and not being so prideful to think that I couldn’t mess up later in life. Things happen, life changes. And if I’m not going into debt and I budget well, why would I even need the cc? Why not just cash or debit? And I know that the answer to that is the free points/reward money. Pride for many will hide the fact that they are spending more than they should just for those points. And that “free” money came from the unfortunate individuals paying interest. That doesn’t sit well with me personally. So is it really discipline to participate in this type of business or is it actually pride, lust, and greed?
When couples divorce, no one wants to pay the CC. Things happen. No one is stopping anyone from getting a CC. They are just offering a warning. People take online advice so personally.
So instead of blaming companies for raising their prices while not providing enough wages for people to pay for their basic needs, they decide to blame individual people.
Literally just use it like a debit card and pay everything you buy at the end of the month... Don't buy anything you wouldn't with cash or debit and take advantage of the points. I don't understand the fuss
We do that too. We live within our means, budget and keep track of our expenses. I can’t see us falling into any problems because we pay it off immediately and don’t live paycheck to paycheck
Smart people like us understand this. Most people are just so bad at personal finance and fiscal responsibility most finance advisors just realize it's easier to tell everyone to stay away rather than discuss the small minority doing it correctly.
@@thatoneguy94512 Exactly. And I feel like the Ramsey method is perfect for people that can't seem to figure it out or made some mistakes in the past. All boils down to living within your means
I owe now $1700 in credit cards i used to owe way more but i hate those cards because interest is high, debit cards and cash would be my only way to buy stuff smh
Dave is typically the only host that actually digests the information and is not responding just for the sake of responding. He takes it all in, asks very clear and direct clarification questions, and then proceeds with a level-headed answer. Rachel is also pretty good at that. Everyone else has a pre-written script in their head and barely consider the caller's situation before jumping down their throat with "advice." I miss Dave's solo-hosting days.
"balances grew 61 billion in the 4th quarter from the previous one to 986 billion. It jumped from 61 billion to 986 billion." No, it jumped from 925 billion to 985 billion. It GREW by 61 billion, it did not START at 61 billion. Work on that sequential math, it's important as readers rely on the fact your knowledge is faithful to the facts. Of course, that number horrible too, but FAR from what you reported.
Jade has it backwards. If you use a CC for an emergency, that means that you don’t have the money otherwise. That’s how you get into debt. If you use it for normal, daily expenses, you should be able to pay for those things.
I use CCs and have them set to autopay the total amount on the due date and I get free money back. I couldn’t imagine not paying it on time, it is terrifying.
Wouldn’t you use your cc to gain the points and rewards? Then pay it back in full. I’m making money with my cc. New listener. That’s debt free right if no interest? New listener.
@@bellad1063 correct, to us who use the CC system this way it makes sense, but to the Dave Ramsey teachings it doesn’t. Because the “temptation is there” but in reality if you have will power and use it sensibly it’s not.
1:05 you said "it jumped from 61 billion to 986 billion", it is different to the first reading just before this where you read it increased by 61 billion to 986 billion.
I understand their point in making this video but they are incorrect on their stats. It jumped from $925B to $986B (increase of $61B). Respectfully, the statistics/story should have been verified if you’re going to share with millions of people.
@@vincent8900 yes it is. The body breaks down the nutrients for energy then the waste are flushed down the toilet either in liquid or solid form. Biology; however, there is a little more complex chemistry involved, in which I dont have the space to explain it.
What upsets me is people calling fast food or retail jobs starter jobs meant for kids or saying to get a “real” job. As far as I’m concerned, any job is better than no job. Hey, at least they are working.
Ramsey did a good job raising Ramsey 2.0. Much more coherent and to the point with less public beating lol. Though important to remember, a lot of us are here are here for the Jerry Springer esque drama =)
I don't think in terms of how much money something I want costs me, I think of how many hours I have to work to pay for it. Am I willing to work that time for what i want?
Having a credit card is not really a bad thing, as long as you are sensible/responsible with it, as long as your not going on a crazy spending spree acting like if you won the lottery buying shit that you don't need, I'm from & live in the UK, I use mines mostly for big purchases that £100 or more and online purchases for consumer protection laws that work might in my favour, but the rest of the time i try to avoid using it much as i can
Likely for the vast majority this makes sense...anyone that's had any cc debt shouldn't have one. I've had one for many years and no issue...also have a large emergency fund set aside and don't treat a cc like an emergency fund.
I got ZERO credit card debt 🎉 thank God. I use my credit card and pay them off completely every week. I use them for the points and cash back rewards 😁
She was spot on; whatever it takes to not take on debt, get another job, or whatever. Nothing wrong with working at a mall, etc., great motivational perspective!
First lady can't even read the numbers correctly and the other didn't even corrected her!! I think it should be $920B to $982B - the difference is $62B........However this is moot, as nobody paying this debt off in forcible future. Digital currency will partially or entirely wipe this off.....
I have a biscuit tin at home with £5000 in it approx, i look at it and use it to buy my daily lifestyle goods, then i let my money build up in my bank , then i top up the tin at the end of the month with that bank money..So when i spend, i see what it looks like, cos its real bit of paper im spending and it makes you think twice about what you buy.
Highest inflation we have ever known. Highest consumer debt we have known. Gambling at all time high. National debt like we have never known. Sitting. On verge of big war and you telling me a crash is t on the way?
For all those saying “you need discipline, use it like a debit card, blah blah. This ain’t for you. Try that logic at the gym with obese people. Some people are struggling with it
@@amireallythatgrumpy6508 I haven’t watched a full show since Dave Ramsey said it’s a good time to buy a house months ago. I knew they were just interested in selling their leads. I watch some bits here and there now.
To keep the minimum payments low, often the effecive interest rate is 60 to 85 percent. Divide the dollars of interest paid in a minimum payment then multiply by 100 to determine what percentage of your minimum is going to interest. This is your effective interest rate.
You're brokenness ok only enriches THEM! Why can't people figure this out?? Imagine writing all those checks, not to some company, but rather to YOURSELF! How would THAT feel?!? Pay off your debt and you will LOVE that feeling!!
