We Are $500,000 In Debt And Our Business Isn't Making Any Money

Подписаться 3,3 млн

Просмотров 158 тыс.

50% 1

We Are $500,000 In Debt And Our Business Isn't Making Any Money
Get a FREE customized plan for your money. It only takes 3 minutes! bit.ly/2YTMuQM
Visit the Dave Ramsey store today for resources to help you take control of your money! goo.gl/gEv6Tj
Become a Channel Member today: / @theramseyshow
Did you miss the latest Ramsey Show episode? Don’t worry-we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: www.youtube.co...
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
www.youtube.co...
• The Ramsey Show (Full Episodes): www.youtube.co...
• The Dr. John Delony Show: www.youtube.co...
• The Rachel Cruze Show: www.youtube.co...
• Anthony ONeal: www.youtube.co...
• The Ken Coleman Show: www.youtube.co...
• The Christy Wright Show: www.youtube.co...
• EntreLeadership: www.youtube.co...

Опубликовано:

6 сен 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 208

@MiguelRPD 5 лет назад

It saddens me they basically had no debt before this .... Talk about creating a massive hole for yourself so much so it's collapsed into a black hole and annihiliating everything around you.

@1234kingconan 5 лет назад

One pattern I noticed with the deeply in debt callers is they have a hard time clearly explaining their financial situation. They don’t even know all the pieces in their puzzle themselves. It shows the mental state that lead to becoming so indebted. Just totally ignoring finances.

@SidraAdele 4 года назад

So true!

@edkennedy7952 4 года назад

Anyone that goes hundreds of thousands into debt ain't too bright to begin with.

@ChrisDodges123 2 года назад

Nah, they're just nervous on these calls.

@fauxbro1983 Год назад

It's probably shame

@turtleanton6539 8 месяцев назад

Yes indeed😮😮😮😮

@TimoteoDeBaum 5 лет назад

They had no debt before, that's crazy. Their family friends already had to know the sales projection and knew it was tanking... That's so low of them

@rorycalhoun6484 4 года назад

remember, they're FRIENDS, not FAMILY. 😉

@T12J7 3 года назад

never do business with friends nor with family.

@robloxvids2233 2 года назад

Caveat emptor. Don't blame the sellers.

@knighthawk3559 Год назад

Buyer beware 😂

@bboyflashny 5 лет назад

Terrible! Trying to get rich quick without any experience in it.

@BanditLeader 5 лет назад

The only way to get rich quick is through starting your own pyramid scheme ;3

@ImRunningazoo 5 лет назад

@@BanditLeader you got it hahaha

@stephenb7829 5 лет назад

@@BanditLeader would you be interested an amazing opportunity in selling herbal tea and medical oils ,I make a more then a million a week you can too!!

@mellel1797 5 лет назад

I am learning so much from Dave and these videos that depict the money mistakes of many. The lesson: it isn't how much one earns, but how well they manage what they earn.

@FallicIdol 4 года назад

100%

@Giorg189 3 года назад

The problem is that they 'manage' money that they do not own... that's debt.

@shaythiele1320 5 лет назад

This is bad like really really bad. Sometimes watching these helps me not feel so bad about my debt thou it sucks bad for them

@QueenStylin 5 лет назад

$180,000??? They should have just franchised a McDonalds or something similar. Much cheaper.

@detectiveMM 4 года назад

QueenStylin McDonalds are surprisingly expensive. Like a million dollars here in California

@MarsTohum 4 года назад

You need 2-300 thousand down payment maybe more but you also need a net worth of 1 million aside from that to be able to purchase it as well

@FallicIdol 4 года назад

@@MarsTohum Exactly. McDonalds is very picky, which is why they aren't closing stores the way Subway is now.

@davidmmm8 3 года назад

Cheap MCD franchise? HAH!

@tonyd9312 5 лет назад

don't hold back on giving him the financial debt info! It's like not telling a doctor if you're on any drugs and hide some of your illnesses when he's trying to help you.

@strat1080 4 года назад

I don’t get into business ventures with family. I won’t even rent a property to family. It’s just so awkward

@arga400 3 года назад

Family "Friend" What a blessing they were

@amyvittum7934 5 лет назад

Sell the houses, sell the business, sell the truck. Sell everything! Work, work, work

@speakingtruths4215 4 года назад

Amy Except the property’s are not selling, or did you not listen to the call? She lowered one from 250k to 60k and no takers for a year and a half.

@juniorgod321 5 лет назад

She should go deliver pizzas to help pay for that debt... for the next 800 years!

@ChrisMFlorida 5 лет назад

Get the kids to do it too.. on their tricycles

@maxinef6654 5 лет назад

Lol 😂

@Alvin-er1rz 4 года назад

009990

@Giorg189 3 года назад

You forgot to mention the new diet: Rice & beans, Beans & rice.

@Only2GendersCommonSense 3 года назад

@@Giorg189 Gonna have to substitute the rice for water 💦💧

@randy944 4 года назад

Another example of how some people can never be happy with what they have. I think most of us would be very happy with $140k a year and that will go up over time.

@TiktokTownhall 5 лет назад

cant get help if you lie about how big the problem is

@mattenderle1766 5 лет назад

Sell the properties, close the business, and work on the $300K in debt. 60k/year puts you at debt free in 5 years.

@TheAazah 5 лет назад

Yeah she would need to earn 120k a year. 60k to pay off 300k debt in 5 years isn't exactly how you would pay debt because you gotta add living expanses.

@robcochran6213 4 года назад

Dave: Well you can always deliver pizza's part time and make $5000 per month OK Thanks Dave

@tone3817 5 лет назад

Rice & Beans?... Nope, its Bread & Water for you sweetie..

@NUCLEARARMAMENT 5 лет назад

Soup kitchens are free and they serve food that is just as good as what the average American eats.

@FrauIndian 5 лет назад

Mark Hayward, You forgot about having a protein source. Then they will need to make sure they get enough iron and vitamin c and salt too.

@carojames6776 5 лет назад

Bina Walburn But only at Christmas.

@Meira750 5 лет назад

@@FrauIndian Why doesn't he suggest people who have houses plant a garden That's how a lot of people survived the Depression. They were called Victory Gardens. If you don't have an HOA, you can probably keep a few chickens too. While the veggies don't provide complete protein, the money they save on them can buy some protein. Not everyone can eat beans.

@RKLIFE17 5 лет назад

@@FrauIndian stray cats?

@w.w.9047 3 года назад

“We bought a business from family friends”….yeah, don’t do that

@andresreyes5398 5 лет назад

Why did they pay 180,000 for the business part if it clearly wasn't bringing in the proper amount of money to be worth that amount

@maxinef6654 5 лет назад

Andres Reyes That’s why the friend sold it. The friend knew the business was a sinking ship. Unfortunately the caller and her husband didn’t do their homework.

@jxsilicon9 5 лет назад

If they see a sucker, they're going to lick.

@ChrisMFlorida 5 лет назад

This call is so odd..

@TelmaFrege 5 лет назад

This girl is the embodiment of the song "Oops, I did it again..." One bad decision after the other... :(

@ImOldandSoAreMyBooks 5 лет назад

A lot of things got fuzzy in the discussion. Not quite sure what she owes still, who she owes it to, and in what amount.

@kveks87 5 лет назад

Five Cents Matter I think she was ashamed of the credit cards. I think she lied about about it only being 30k. she probably had an absurd amount of credit card debt and didn’t want to embarrass herself.

@QueenStylin 5 лет назад

Now is not the time to be embarrassed. She needs help and is hindering her blessings by not disclosing ALL of her debts.

@speakingtruths4215 4 года назад

I Should Know This The sad thing is that she doesn’t really seem to know, either.

@edkennedy7952 3 года назад

@@kveks87 lol, yup

@MR3DDev 5 лет назад

Makes 140k a year and has 500k in debt, who is out there telling these people “ yes, keep putting borrowed money on this, it will pay off eventually”?

@FaithBusiness 5 лет назад

Once they've sold off the assets Dave suggests, they can at least get a proper estimation of how far in debt they are.

@sunset6010 5 лет назад

IT'S DIZZYING My question is : If they were doing so well before, why did they sign up for this business ? Greed, perhaps ? I just can't figure it.

@sharonsanghez9430 5 лет назад

They probably let their family gas them up before actually sitting down and looking over the financial details.

@blackworldtraveler3711 5 лет назад

Sun Set I always see people pushing starting a business as a wonderful thing on RU-vid and other forums/message boards. How having a job/career is wrong and like slavery. Instant wealth,gratification,and whatnot. With no thought of financial backup,skills,health insurance,common sense,etc..

@garyhost1830 5 лет назад

Yeah i know, she keeps saying they make really good incomes. But theyre 499,000 behind

@aerohk 5 лет назад

People can have dream and ambition. Nothing wrong with wanting to run a business. They just failed to properly value the business.

@aerohk 5 лет назад

@bobloblaw4life fair point.

@patty109109 5 лет назад

Good income, no debt...then jeopardizes all and risks all personal assets on a Hail Mary. I am not even against borrowing for a business but you need a “stop loss” on it. When you’re levering house, CCs, personal loan...bad sign.

@PInk77W1 5 лет назад

$145,000 income and 145 different debts, what could go wrong

@methujeraya 5 лет назад

2:51 Lol sums up the call

@edkennedy7952 3 года назад

lol, just when you think you've heard it all......

@CookingLessonsforDad 5 лет назад

What a mess!

@daninbox 4 года назад

If debt snowball was ever needed this would be it. Need to clean up small tasks just to focus.

@ThePresentTimeNow 5 лет назад

im in the same boat. Im in a lot of debt, business isnt making money, and im scared.

@LaDeeDah 5 лет назад

Why are you in debt?

@NUCLEARARMAMENT 5 лет назад

Just declare bankruptcy and wait for seven years.

@Mizmoon2020 5 лет назад

The most important thing is to face reality. If the business is not going to make money then move forward with that is a fact. Try to find someone to sell the business to. If you can’t or that’s not possible, close it and get all the tax benefits that you can. Don’t keep throwing good money after bad because you feel bad that you’ve already put so much money into it. That money is gone now. The next big question is what can you do to make as much money as possible.. probably getting a job. Move forward with making as much money as you can. I know you’re scared and you feel bad but this happens to millions of people. You are going to be OK. You will figure out how to move forward and you’ll do it. We careful about listening to people these message boards - They can be mean and often they don’t know what they’re talking about. But one thing is true - you going to be OK

@ianmowbray3284 5 лет назад

Why do they always have a $30.000 car lol !!!!!!!

@mimamimma2183 5 лет назад

Ian Mowbray some how, when people like us are out here driving a used $8000 car bought cash

@computerscientist5953 5 лет назад

@49jubilee there are good vehicles under 10k...

@louyht7 4 года назад

@49jubilee It called Toyota.

@johnadams3418 5 лет назад

Never a good idea to borrow personally for a business. Especially credit cards. Sounds like they kept pouring more money into a bum deal to try to make it not be a loss. Or at least minimize it. Either way, it should have been liquidated well before this point.

@jaimecruz5367 4 года назад

John Adams kind of what the feds are doing to the banks right now. Keeping them afloat.

@joeregan63 4 года назад

Yup, terrible idea. 20% debt on a $250k business, you need to make $50k a year just to service that debt. Plus it sounds like her business and personal debts are all mushed together. Is bookkeeping happening here?

@JogBird 5 лет назад

theyre headed to divorceville imo

@carlton2361 5 лет назад

Omg 500k in debt lol You gone have to do some serious hustling

@BanditLeader 5 лет назад

Sell your house! Sell your kids! Sell yourself!

@NUCLEARARMAMENT 5 лет назад

Just declare bankruptcy and wait seven years.

@BigRed2 5 лет назад

Nuclear Armament Yup will take longer then 7 years to pay it off and you will have to work 30 hours a day lol

@noncustody 5 лет назад

Wow, talk about being in over your head! 😱

@stolensilver5811 2 года назад

Im broke, living on state benefits (no debt) And these folk make me feel loaded lol

@christopherreid3184 3 года назад

Just because you bought a business doesnt mean automatic success. They should have started a business of there own with less capital no loan to start with a d grow that how i started my part time business. Working day job and using that funds to grow the side business no debt.

@vinnyt.8027 5 лет назад

Anything below beans and rice for these folks

@tamaralaird3389 5 лет назад

bread and water, soups,

@timelessmusicfamilymusic9175 5 лет назад

I think they took on more than they can handle.

@nightfangs2910 5 лет назад

this is what happens when you don't do diligent research on your friends business long before you invest in it to see if it's a viable business to begin with

@maxinef6654 5 лет назад

ron sylvia And that friend is laughing his behind all the way to the bank.

@rnalamo47 5 лет назад

Shouldn't they have required seeing profit/loss statements about that business for the five years before considering the purchase ?

@Uniqorn 5 лет назад

What I can't understand is how some people are smart enough to make hundreds of thousands of dollars, but then dumb enough to mostly lose it all again

@sami-9233 5 лет назад

Unexpected medical bills, bad business decisions, student loans, frauds, theft, car accidents. There are plenty of causes even smart people lose money in

@tomsassurance 3 года назад

She sure avoided the amounts owed to family and friends....I'm sure they did not get the story she just told Dave.

@Londonbridge978 5 лет назад

I would just file bankruptcy 😂

@5000MikeMaster 4 года назад

Lyndon Coleman exactly

@maniacattack8426 3 года назад

Don't do business with family and or family friends.

@ScribNet 3 года назад

“Some personal loans” - totals more than 300k GOOD LORD

@exceedinglyaverage1179 Год назад

Those debt consolidation criminals, shouldn't even be legal.

@tturner0051 5 лет назад

Only 76 Mbps? I figured Dave would be rocking at list a gig down....

@GrimYak 5 лет назад

He probably has an 100mbps connection. At 75% reliability that sounds about right

@OFFTHEDOMEApparel 2 года назад

i like the setup very professional !!!!

@Infinitelybetter466 5 лет назад

I noticed Americans like to take out credit card loans on basically things they don’t even really need. But best of luck to this sweet lady. I’m sure she’ll figure it out. She took a risk starting that business but clearly isn’t working out well.

@JQAsCrustyNightSock 5 лет назад

Obviously you hire a roaming arsonist to burn down the properties and collect the insurance money.

@panamericaco 5 лет назад

Mr. Interesting its called Jewish lightning 😄

@ImRunningazoo 5 лет назад

@@panamericaco omg ppl are extra funny on this video hahaha good one

@ImRunningazoo 5 лет назад

HAHA

@LittleHatori 5 лет назад

Yea, obviously 😂😂

@06XTOR 5 лет назад

Lol

@hbarudi 5 лет назад

Looks like a business failure here, unlike student loans, at least there protections in place and of course if the property mortgages on those business places are quickly becoming unaffordable, they can sell them off and be able to remove some of those loans from their mind.

@kaylasell419 5 лет назад

I'm in AMA. I wonder what business this is

@jiujitsu806 5 лет назад

Same!

@sctony7116 5 лет назад

She keep sayin' we make very good income 140K together blah, lemme tell ya dat aint good freakin doodle doo income AT ALL. Thats like 70K per each. I make 100K myself but never EVER i regard myself as high income earner enough to buy business. I guess you havent seen real corporate high earners yet. I work in banking indistry loc @ Financial District in big city. You have no idea

@strat1080 4 года назад

You’re an idiot. Salary is relative. Cost of living in the TX panhandle is really low so $140k is actually really good. You seriously can’t be this naive. Making $140k in NYC, DC, or San Francisco is not the same as making $140k in Amarillo, TX where housing is much much cheaper

@Darkrider6970 5 лет назад

They made mistake after mistake. This is an example of a couple that needs the strict structure of a program like financial peace university. With their salary, they have a realistic pathway to financial security if they budget, don't take on unnecessary debt, and save/invest. Unfortunately, they've dug themselves a hole but hopefully when they sell off their properties, business, and truck they are left with a debt they can manageably pay off.

@MaSX2024 2 года назад

If it can be cleared with a payment, it is not a problem but a ‘cost!’

@shialourdes7547 3 года назад

5 kids, no wonder.

@alanvazquez1635 4 года назад

In my opinion, they did not do their proper research prior to purchasing the business. Their “friend” probably just showed them sales reports of what they could possible make. They did not take into account expenses: overhead, inventory cost, labor, etc. there’s a huge difference between Gross income & NET income/profit. Even then though, you got to know when to pull the plug! $500k in debt?! Cmon...

@TelmoAmaro 3 года назад

Skip delivering pizzas, buy the whole pizza company with cash and maybe you can pay the 500k... if you dont mismanage and end up with +500k in debt

@grayandgray 5 лет назад

Maybe they could sell that business for 1/2 the value of whatever inventory they have, at best. An astute buyer would probably recognize the inventory as garbage. It's wild they would pay $180K, go on this ride, then think they can list it for $250K out of thin air.

@maxinef6654 5 лет назад

grayandgray they’re hoping that a sucker like them will come along.

@tamaralaird3389 5 лет назад

@@maxinef6654 exactly

@robloxvids2233 2 года назад

I have a feeling they sell bedazzled hats that say stuff like "It's wine O'clock somewhere!"

@zunaiandre2341 5 лет назад

Congratulations👌

@mostlyends 5 лет назад

Bankruptcy would be the smartest way forward.

@mikenelson8377 5 лет назад

Nick Keith disagree. They make enough to clean this mess up. As DR said, they need to sell everything in sight. Get rid of those business, mortgages, credit cards and cars. They do not need $30k worth of cars 🤦🏼‍♂️

@NUCLEARARMAMENT 5 лет назад

@@mikenelson8377 Donald Trump didn't do that and he's still rich.

@LaDancePaws 5 лет назад

@@NUCLEARARMAMENT um. Donald Trump filled bankruptcy on his businesses at least 3 times. 😂 He doesn't actually know how to run a business. Don't follow him. Just listen to Dave Ramsey.

@NUCLEARARMAMENT 5 лет назад

@@LaDancePaws Donald Trump is worth over $3 billion and Dave Ramsey isn't worth even $100 million. Robert Kiyosaki uses debt also and has a net worth of at least $80 million, which is still more than that of Dave Ramsey. I think I know who I'd rather listen to, and it certainly isn't Dave Ramsey and his hypocritical anti-debt agenda.

@LaDancePaws 5 лет назад

@@NUCLEARARMAMENT 😂😂 Donald Trump's money is inherited from his dad. And if he was actually smart, he would have done wise investments and not done anything and would have much more money. He is just lucky his stupidity hasn't outspent his inheritance. And having debt subtracts from net worth. So Robert Kiyosaki is probably not as wealthy as you think he is. 😂😂

@jimh4167 4 года назад

Sell every thing

@gl5616 5 лет назад

No student loan debt? Thank God !

@Plainpat94 5 лет назад

That lady is a mess

@Shaolin91z 5 лет назад

Accidentally something caught on fire....and then the insuranance etc.....

@Inferno909 5 лет назад

Idk if I’m the only one that thinks this is not funny.

@leachristine5264 5 лет назад

"We have good jobs" *in a crazy amount of debt with their business thats eating them alive* So thats....good?

@Melbournerider 5 лет назад

I can’t believe how cheap property’s are in America

@numbereightyseven 5 лет назад

You'd believe it if you had to live there.

@thomasokeefesr6022 4 года назад

This is STUPID. START DELIVERING PIZZA>

@stevelee7781 4 года назад

Hurts to listen

@owenb8636 3 года назад

Time for a suspicious fire

@Cesar-pq2ck Год назад

Isn’t owning a business supposed to make you money not put you in debt? Saying “I own a business” is cool but that’s about it.

@HLTrds 7 месяцев назад

Hell no, owning a business with overhead sucks!!

@Alex-ot6zt 5 лет назад

Bankruptcy time!

@aldelgado9343 5 лет назад

This couple is pretty greedy, they are way over their head.

@new_filler 5 лет назад

Starting a business doesnt make you greedy, it was just the wrong decision.

@aldelgado9343 5 лет назад

@@new_filler they started with greed then they made bad descicion.

@edkennedy7952 3 года назад

World is full of people like this.

@lllllllllarose 5 лет назад

she’s really drowning in debt

@kona6451 3 года назад

good lord how cheap are these properties

@speakingtruths4215 4 года назад

Dave’s head is spinning.

@jimh4167 4 года назад

Should never dig yourself in a hole like this. Without some business classes

@strat1080 4 года назад

She didn’t seem super forthcoming. Like she was being dishonest or didn’t have a handle on the debt

@allanhood8402 3 года назад

Get the KY Jelly out

@raymondgaray8119 5 лет назад

He gave no extra advice, she already set in motion all this.....he literally gave nothing extra what a waste of time

@QueenStylin 5 лет назад

She asked in the beginning should she sell or not. He answered her question.

@leahv5892 5 лет назад

It’s why I would never start my own business. You could just lose everything.

@tehufn 3 года назад

1/3 of the video is going over debts…

@thinkmackay8954 3 года назад

Never bet your rent money!

@LL-xx4iq 5 лет назад

Wow! One is better with working at McDonald's making minimum wage and not having any debt! Wow!

@Noulvari 5 лет назад

He’s internet speed is 76 mbs.

@milesshockdepaul 5 лет назад

Why do they always cut Dave off when he's trying to counsel them? Why call in if you are just going to defend yourself? I thought the whole point was to ask for help, not justify yourself publicly. My Lord!! Lol.

@Simonofcalifornia 5 лет назад

She needs to wisen up and get some gray hair like Ramsey.

@CharlesvanDijk-ir6bl 4 года назад

Make undocumented withdrawals aka bank robberies.

@shachede6828 5 лет назад

sell every thing. everything

@jeep19 4 года назад

LoL 😂 the old, bought a business through family and friends... you deserve it 🤔 after hearing her 😉 try to explain 👍

@itscali619 4 года назад

Sell your car

@jennyscranton8433 5 лет назад

People need to quit Chasing the AMERICAN DREAM it DOES NOT Exist even if you do make money in America it will not save u from REALITY OF A LONG HARD LIFE 4 EVERYONE SORRY PEOPLE if its not one tbing it will be anouther quit DREAMING

@turtleanton6539 8 месяцев назад

Ooof😮