They need to get their act together. Do a budget for gods sake. Control the money.They are bringing home 5K or more a month after taxes and all. You can't live on that in the location they are in? Come on.
@@hammanta I was going to say the same thing. They are brining in much more than $5k a month. A major problem is people are living outside their means. $100+k is not poverty level income.
If he doesn't know where the money is going it's probably being frittered away on useless little things they don't need, eating out, buying coffee at cafes, buying lots of toys and clothes, shopping for junk for the house etc. They need to start tracking all that.
True. They only have $10k left, but we don't know where it started. Still, I don't think it explains the amount of money that should be left in the budget.
Question for people, why do so many people have trouble with hospital bills? They can’t even collect it from my experience. I have a kid and I never even paid their birth bill. She’s 5 now and they’ve never called me for it
Depends on the hospital network. Some will chase after you aggressively, others (mostly non-profits) will sell the debt to a collection agency but will chose to not report to credit bureau so it would never show up. However, It is in your best interest to pay your medical bills. Stealing services from hospitals is not cool.
Looking at Dave and the expression on his face when the caller said they make over 110k a year and he has about 11k in auto loans was funny. The wife buys Starbucks before and after work and ubereats for lunch and dinner. When I was typing ubereats the cohost said about doing ubereats. Then Dave chimes in about not getting ubereats delivering it. People don't realize how eating out all the time adds up. Dave knows what the problem is. Not cooking at home.
Hahaha you’re the problem, you’re the problem! Lol 😂 did he say this is awesome? I guess some people just need Dave to yell them into shape. I get it. You can definitely do it. Good luck sir.
The funniest part about being debt free, saving money and only paying cash is you actually have more money to spend and when you have money saved up you don’t get super excited if you get a few grand back in taxes because u no longer spend money in ur brain before getting it.
The one thing I keep telling our kids is not to have auto pay on their bank accounts. The grid shut down in Texas a few winters ago and how people were getting 1000s of dollars yanked by the electric company was a good example of why not to give any companies direct access to YOUR money. Writing checks and sending them by snail mail may seem "inconvenient" but in the bigger picture it keeps their hands out of your pocket until you make the move to send it. Money orders would be an even better way to keep them out of it.
The only thing I don't like is the fact that Dave enjoys struggling the majority of his life so he can eat steak and lobster in his 60s. Thats where I am confused.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Lourd-Bab However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Lourd-Bab However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
I worked with a lady who said she couldn’t afford new tires for her car but spent $10 a day at Starbucks. All those “little” purchases daily can add up. I guarantee they’re eating out too much and buying expensive drinks. 🤔
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good?
The people that call in with no preparation on what they’re going to say blow my mind. Also people who make over 100k per year and can’t pay their bills. $222 and a blown tire overdrafted his account? Something isn’t adding up.
Being broke on 100K a year isn't that unusual or unreasonable here in the Bay Area, or other expensive urban coastal areas. Wichita, though, is a different story.
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
Honestly if they ate at home they could probably be out of debt soon. I guarantee they never eat at home. Wanna know how i know?? That’s my problem lol 😂
These sorts of calls are always a little frustrating. I want to know where they are spending money. They call in completely clueless about how to make their basic needs, but make $110k? I mean, how does someone with that income overdraft on $220?
They overdraft because they don't have enough funds in whatever account is being debited from. Has nothing to do with income. $110k is enough to get by on but it's not a huge amount, especially with the rising cost of literally everything.
@@Lon1001 It have to do with financial management. I make half of his household income, and my monthly bills with is a mortgage and car note is only 25% of my income. When I was married and monthly income was doubled this family, we live paycheck to paycheck. He was financially irresponsible but will admit, the best thing I got from him was an excel budget that I still use today.
this is a lot cheaper and more entertaining than going to a therapist 😂😂😂 everytime I hear one of these financial train wreck stories I feel much better about myself
50% of people making 100k or more live Paycheck to paycheck and can’t afford a $1000 emergency. This show proves this statistic everyday. So happy I found Dave learned how to budget and became debt free 😊
People really need to at least have a budget plan before calling. You’re having money problems because you have no idea where your money is going to. It’s really not that hard.
That's most people even those with degrees. That's why I'm against student loan forgiveness. They make enough to pay off their debt, but they're such disorganized, impulse spenders, that they end up in the hole.
People in third world countries are saying: “How could someone who makes $15 an hour possibly be broke?? I make $15 per month!”. Truth is, broke is a mindset/spending habit. NOT a paycheck/bank account balance.
I make around 130K after tax. I spend only 30k and save 100k yearly for my early retirement. As a single male, I don't need a big house and a 60K car. 30K is more than enough for me.
What!!? $1050 mortgage! That's insanely cheap. Average American just can't make a budget. We need mandatory financial education in high school before kicking them out into the real world, bc the real world will eat you alive if you're not on top of your stuff.
I’ve been living on a budget since high school and it was all self taught. It’s not rocket science to add up your bills and subtract from what you make. Then spend accordingly.
They must be shopping, drinking or eating out like crazy. They got $9k a month income and listed $3k a month in bills. Something doesn't add up. There is a online gambling addiction size hole in their finances somewhere.
@kingberry100 , or if they are eating out almost every meal. Could easily spend $150/ day on that if they have no self-control.🤔 I wouldn't doubt if someone has a bad coke habbit, though.
Haha it is funny because Dave is not being mean, he is being honest, something people do not w ant to hear or never got someone to tell them the truth.
@@robertjetski8736 Apparently (at least from the video I just watched) they surmised that the problem was that the couple don't have a budget, and are very chaotic in their spending.
I make similar money, and with $900 in car payments and $2200 in mortgage payments plus all the regular bills, I put over $1k in savings every month. These people must be spending like crazy people on everything they could possible buy.
@@grantv2313 Yes, I'd be willing to bet they each pick up a ton of lunches and coffees on the go along with eating out at least a few times a week. That could quickly become a couple grand a month.
@MrBean - totally agree. My wife and I jointly make right at $175K a year and take home $8500 monthly. People seem to forget about all the deductions as you itemized. Now I’m not complaining. Our take home is very good money for the area of the country we live in.
$110k a year does not equal $9k a month. My wife and I make $130k a year and our net pay a month is $7,800. Now with a child, they probably have a smaller tax liability than I do, but still, they aren't taking home $9k a month. At best, $7.5k. BUT, that's still a lot.
"If I gave you 10,000 dollars to look at these people's budget and come up with a plan on how to fix it. You would have it done in an hour and half." Really insightful way to look at it!
Go to college so you can have $30k in debt so you can work full time making $52k so you can send $1200 a month to daycare. Women need to wake the heck up. We’ve been lied to.
that's life, life require spending $$. can you guarantee she can still find a 52k job if she doesn't go to college? she won't need to spend 1200/mo if she has no kids, it's a choice that she makes, no one is making her do it.
Love when Dave gets fired up about helping people. You could hear the hopelessness in this guy’s voice. Truly just about getting organized and getting out of his own way.
Exactly. Either they are overspending on food or shopping, or he’s not being truthful about the amount of debt that they have, or there is some sort of addiction going on. Because it’s not adding up at all
Knowledge is power. Clueless is this guy. 😂 I don't want to be mean, I used to be like him. But he's got hundreds and thousands flying around his ears and he's got no idea where all comes from and goes to.
He sounds like a weak little boy. It's not hard to sit down, figure out what's coming in and then figure out the important stuff that needs to be paid for, and then just do what needs to be done. That's not even financial literacy, it's just common sense.
with a 110k income and such crazy low living and housing expenses and such crazy low car payments where is the money going?? There has got to be a drug or gambling problem eating at the money or they are just spending many thousands a month on eating out. Probably eating out for lunch and take out dinner everything night.
I love how Dave complements people before he drops the hammer! BUT, he isn't mean with the hammer drop. This family can get it done, and in a short time. They just have to focus on the big stuff and line up the $'s. They can do it!👍
They're probably doing alot of takeout. With a brand new baby, she's probably too exhausted at the end of a work day to cook supper every night. Not to mention the coffee stop on the way to work and the bought lunches. Too many people don't factor in how much it costs to work. They could, potentially, do better if she went part time and asked Mawmaw to babysit twice a week.
When we set down to do the math when we were expecting our first child, my husband suggested I stay home. I would have been bringing home so little it wasn’t worth the extra stress of dealing with childcare etc.
@@amyhood6562 yep. Mothers have been conditioned to believe they have to work outside the home. They neglect to factor in if they're working to pay someone else to raise their children so they can work.
There are also ways to ease the grocery budget and stop the take-out. A lot of grocery stores have quick lunch options near the deli that are still a lot cheaper than doing Panera, Chipotle, Subway, etc. Even K-Cups are cheaper than the coffee shop, so that is another place to save a buck.
At my son’s high school they teach Dave Ramsey and budgeting. It should be mandatory at schools. If you want kids to succeed and not be broke, you need to teach them. The reason they don’t teach this is because saving money doesn’t make good consumers. I found Dave Ramsey over 10 years ago with $125k student loans on my back. If I didn’t take things seriously, I would probably still be making payments. The plan works. You just have to behave yourself.
Put on the song "Seven Nation Army" on full blast on your way to work every morning and get pumped up to kill the debt! Stop spending and start living!
I work with someone who spent $17 a day on 2 iced coffees and a pack of cigarettes. I figured that over a year, she spent $6500. She could have doubled her mortgage for what she was spending on throwaway items.
I’m always amazed at the number of people that eat lunch out everyday rather than pack a lunch Maybe its because I was a teacher and had to bring lunch (or eat school lunch - ick!).
Someone is blowing money shopping!!! It’s like drinking from a firehose, it doesn’t work. At least he’s not in CA with our utilities and housing. I’ll bet they never tried to save. Good luck telling her not to buy clothes, hair and nails done, shoes, stuff for the kids, house and yard, partying with friends, vacation, etc.
Sidney Bristow, so if you're saying it's all his wife's fault, he also has a part to play in this financial fiasco. He doesn't even know what they're spending money on! And yes I said "they", not just "she".
@@Sheryl777Exactly. These incel men always want to blame the woman but completely ignored how this family spends $1200 a month on childcare. Of course they're on the red with childcare rates like that.
@@amydoran9987 Most people don’t have much will power if they’re also depressed.Buying too much stuff can indicate an attempt at retail therapy. A dysfunctional coping mechanism passed down generation to generation, usually through the X chromosome! 😳
This guy may not be dumb, but something is wrong with him. U are married with children's.Shouldn't have to call Dave to run your house hold. This is just simple math.
This reminds me of my life when I was married 17 years ago. Finances killed our marriage. I found Ramsey and she's still just like this. I'm now in bs7 and an EDM and she's still over drafting her accounts. I'm happy and she's miserable, this plan works.
Dave: so what debt do you have? Caller: well, the tire blew and the dog died and then the wife needed makeup and then we went to McDonald's and then we had to get diapers for the baby... Dave: (smacking the mic to get thru this guy's head)
Eeeh $300 a week on childcare would destroy most families. Ain't nothing cheap or affordable about that. That's why I get disgusted when people talk about how being a SAHM 'isn't work'. To that foolishness I say: 'Okay then. Pay for it. Hire a woman and pay her. Now let's see what's 'not work'. IMO, $1200 a month on childcare is what's causing this.
I'm sorry to say that I discovered a lot of other adults are still financially illiterate or purposely refuse to actually know where the money is going by writing it down. By the time they grow up and wake up they are 30 or even 40.
People just don't break it down, a lot of people pay more for Cable, internet, cell phones and other recurring subscriptions then they realize, and it kills their budget! because they don't have a budget.
I think the problem is that these people are just spending day to day without paying attention. I know when I’m not every day, looking at my budget/spending, what bills I have coming before I get paid next, etc., it makes it so easy to get out of control.
