Posted on 02/08/2024 2:25:07 PM PST by grundle
This Couple is a Million Dollars in Debt!
(Excerpt) Read more at youtube.com ...
Caller: We are bad with money
Dave: Where do you work?
Caller: For the government
Everything now makes sense
My advice, economize, live below your means and pay extra towards the principal of the debt.
That debt is probably mostly the mortgage.
I had a friend who joined the French Foreign Legion in the early 90s. They gave him a new identity, new name, etc. No more debt!
The woman has the majority of the debt. No surprise there. Emotion buyers, impulse spenders. Living above their means because feelz.
She married the guy and debt trapped him.
Inwas wrong. It is mostly stupid debt. If you prepared to live like a monk, it is manageable. One definitely needs to repent, however.
Downsize greatly.
It’s never to late to fake your own death
Why fake it?
My sister did taxes for H&R Block for twenty years. She had a waitress who also worked at a convenience store. Income was not very much. She had paid for her pler car, her modest house and had significant savings. Then there was a single female executive who was pulling down something like $150k. She had a second mortgage on a huge home and bought a new BMW every year. Huge credit card debt and making minimum payments. ended up owing taxes and broke into tears as she had no way to pay them, and they had to set up a payment plan. My sister described her as having some kind of head problem. Apparently, she couldn’t NOT buy new cars, even though she knew she couldn’t afford them. We live in a culture where people have been programmed to consume even though they know they shouldn’t. It’s like people with diabetes who can’t pass on dessert or COPD who smoke.
There are some openings in the Punch Line in Guyana.
Their mortgage is $210K and rest loans and credit card debt. They have good income and are young.
They can certainly turn things around if they change. I wish them well.
I took a crappy job in summer 1978 selling books door to door.
They told us not to bother going to the nicer houses. They have no money.
They are the typical DC a holes. No common sense but have advanced degrees.
They are bad with money. Stupid even. But Ramsey to the Rescue with his little envelopes.
That is not a bad analogy.
I try to teach some finance in my parenting class. Oddly enough it is not the kids of the working poor who have the most trouble, it is the children who's parents were in the middle class. Even the children of welfare have an easier time understanding that when the balance gets down to zero, you stop spending.
Debt is a trap and "easy credit" ain't.
They can always volunteer to go fight in Ukraine.
Dave Ramsey Show: Same stupid people making the same stupid mistakes. Every show is the same. Can not listen for more than 3 minutes.
(Just like the old Dr. Laura show.)
No way of knowing what they are other than they are way over their heads in debt.
They are not alone. Debt is a problem that cuts across all sorts of groups, classes, locations etc.
Incorrect. You did not listen carefully.
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