I'm a civil engineer. I had $42k in student loans. Paid it off in 2 years. And this caller and husband take home $12000 a month and they're making excuses why they can't pay off debt? Come on
I though she was saying 12k/month combined, but she said 250-260k/year so that over 12k/month has to be EACH..so it's more like where is the other 19k going??
Unfortunately the middle class in my area with 3 people is $160k according to some updated figures. So they're, supposedly 90-100k more gross but some areas have literally doubled since 2019 on terms of basic living expenses. For example I'm in Ohio right now for a work trip, I filled up nearly $1 less a gallon from Michigan, I was equally pissed we have one of the highest gas taxes, but astonished at the same time.
It’s really difficult to afford the Instagram home and the lifestyle for the gram while you’re so deep in debt. People under 30 act like there were never any struggles in the past or that everything was cheaper and easier blah blah blah. Everyone 50 years ago lived a completely different lifestyle than people considered to be in poverty do today. Eating out constantly was not a thing. It was rare. Vacations were to visit family. Clothes unboxing is what we did on Christmas morning with the toy being last - singular! Quit trying buy your way into happiness. It doesn’t work!
We don’t make close to $12k a month and we bought a house last year for $130k. It’s over 100 years old and every room needs some kind of updating. We’re doing a little at a time. This is *updating*, the house is totally livable from the moment we bought it. I’m not talking about a gut job and living in a construction site. Something tells me she wants brand new everything and a 500k house.
She should contribute to your retirement diligently, or better still look into financial planning don't come to youtube for advise, consult a Local or trusted online broker/planner.
“I can’t blame myself for being 18” 😂 when I was 18 I chose a school where I could live at home & received a full scholarship. Why do people talk like all 18 year olds spend money so recklessly? You don’t have to. Certainly not well over $100,000
@@RachelPettersenyup! My husband and I did not go to college because we never wanted to debt. We’ve never borrowed money and yes we made the decision at 18/19
That is what my husband and I did. We are both engineers, before starting to have kids we learned to live off one salary. We also went to state schools with merit scholarships so graduated with a small student loans. We paid off our home by 39 and have been debt free ever since. Now have 3 kids in college and we are cash flowing their education. The rest of our money goes to retirement.
@@wayne9287 Two reasons. First, usually the wife make less money. So if they live off her salary and save his, they are living below their means. Second, the wife is the one who gets pregnant, so she is the one who would quit or reduce working. Her job is less permanent, his job is considered the permanent one. The worst situation is when they live off both the incomes and they she gets pregnant and quits, and suddenly the family income is cut in half.
Notice how she speaks. She didn't make a mistake by picking a school that cost too much, she somehow "got stuck with" the student loans. She's not going to change because she doesn't think any of this is her fault. She speaks as if external forces foisted this debt up her.
I finished my engineering degree with a $30k student loan. That was no accident. I picked an affordable school and worked my butt off to get scholarships and jobs during school to minimize the debt. It was a priority for me.
i'm sure during the time they had their student loans, they have vacations, holidays, etc..... lack of responsiblity is the root cause about "student loan debt" how about thinking before you procreate...... it's not difficult
Nah, everything is crazy expensive...I owned a house in 2010 making 12 an hour no prob. Not possible now unless you find a shack in 2 hours outside of a major city. Maybe partly entitlement, but it is way harder now.
She fell for the lie that the government was going to forgive her loan and when that didn't happen she is having a hard time accepting the fact that SHE will be responsible for her own debt.
Also a young millennial here and 28 😊 I just closed on my new home and I’m single! I used to think it wasn’t possible until I made hard sacrifices and became debt free before buying a house. I make less than half of your house hold income so It’s possible ma’am just clean up that debt
I make 6k a month as a nurse in NYC. Paid off 45k in students loans, 30k in car loans. Just closed on my home in Brooklyn last month all by myself. I did all that in the span of 4 years of being an RN. It took a lot of discipline tho. This couple makes twice of what I make and still complains. Smh
They have 2 kids they spend in daycare and you didn’t plus she had $100k loan which was less than what you had. Please don’t bash and compare. You make half of what they make and you only have to provide for yourself. They have 4 people to take care of. Your situation much easier.
She feels entitled and takes no responsibility. “We got stuck with student loan debt” - that’s impossible. You signed up for student loan debt. It’s also not normal to have two kids in mid twenties while still six figures in debt and THEN try to buy a house. Same attitude - she feels “stuck” paying for childcare. It’s YOUR kids! You chose to create them!
@@sanj6576 because they lack brain cells... I am older than them and haven't had any kids with my partner... NO WAY thats happening until we saved enough hard cash
And they most likely work in a field that expects a degree, meaning they wouldnt have that high salary if not for the student loan debt. People forget that student loans are an investment. For many people, its a bad investment. But for many others, it pays off big time.
She is just not smart, yes she is engineer like her husband but she is not using her brain. She can open up a business and borrow the money from bank then use that money to pay off student loans then file for bankruptcy. It’s doable without stressing with those student loans. She just needs to be smart
Yeah, no idea how she wasn't pressed more on where the 12k goes every month. Caller complaining about society and student loans when they're burning that much cash.
$3,000 / month on childcare will by $36,000 a year... 3 months of their combined salaries since she said they bring home $12,000/month. Rent consumes almost two more months. Leaves them 7 months worth of salary. I'd be interested to hear what kinds of cars do they have, how often they go out to eat, and their vacation habits.
28 years old and she is angry that they don't have it all? Talk about entitled! With $12,000 coming in each month, they have plenty of income, they must be spending a lot on non-essential goodies.
@austhinndolu3099 People who respond this way often aren't seeing the big picture of their finances. They're too busy thinking "How can I squeeze by until my next paycheck?" to ever consider "What financial decisions can I make that will set me up for success in the long term?"
@@austhinndolu3099 Because it lets you know that they think in the short-term. Your monthly income feels more immediate and tangible, so it's a good indicator that they're focused on what money they can spend now, rather than considering the bigger picture with their annual income.
I am tired of people complaining about student loan. I went to architecture school, a 5 years program, but I took 6 years. I got a few thousands a year from Pell Grant but I PAID for EVERYTHING (housing, food, tuition, books, etc...) by myself since my parents were and still are poor. I finished college with around 25K in student loan and paid off every single cents. STOP ALL YOUR COMPLAINING.
She's 28 and will have two children, a high paying job, and child care will raise her children. That's entitlement. Take a few years to raise your children and rent.
I think it's fair to expect the average sale of a home nationally to NOT almost break half a million. I make six figures, zero debt, and could barely afford an apartment style condo. I should be able to afford the gated community. But it just isn't realistic. And I don't even live in a big city!
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that or generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 56.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
Finding financial advisors like Jessica Lee Horst who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Just listened to this. These guys took it so easy on her. Her problem is they don't budget at all spending likely like it's going out of style. Big car payments. IDK. Where is all their money going for all the money they make? They're doing something massively wrong.
It’s just sad that no one tells you the ramifications of going to an expensive school. Luckily I went 2 years community college and 2 years in state, but so many people get rekt. Unless you 100% have a path of what you want to do, you should be forced to go to community college.
There was a video from DC with a person crying about the same thing, The audacity of these people to think they are not responsible for their loans. WTF. You signed the promissory, you got the education, you pay for it. Unlike a car note, it will not take 4 years to pay off. Because it have a higher balance, it will take longer. For educated people, those people certainly make themselves look dumb. Basic math people and personal responsibility. I’m so sick of those people.
Agreed. My parents told me to get scholarships and I applied to them like they were a job. Thankfully zero student loans. Ultimately though people should understand what they are signing.
@@tduck828People don’t understand because they don’t have to worry about it at that moment. Loans don’t kick in until after graduation, but the fact is the person signing up for the loans are gambling that they can pay back the loans or if they go into a good paying career field. Going to college is essentially gambling that’s backed and endorsed by the government and sadly it’s not seen as evil as it should be. Education is good, but college on the other hand is debatable as the value of a degree goes down.
This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.
'Sophia Maurine Lanting is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
what's she complaining about? She's two people income and their rent is so low while their income is so high. Simply, she just needs to do some math and budgeting. That's all.
Exactly. Seems like they need to just save first and then spend whatever is left. So many people do the reverse and save whatever's left after their spending. This is especially true from high earners that don't feel the need to have a budget.
$3k/month on childcare is enough to make someone mad but maybe that just means you delay buying a house a couple years. Seriously, that’s not the end of the world. Is just a side effect of choosing to have kids these days. This stuff is easy to research and plan for.
I feel zero sympathy for these people. $12,000 take home - $3000 for child care-$1800 for rent and they can't pay their debt off or save for a down payment? People who make less than half that are doing it. They need to prioritize. Only thing I would say is that I do think that student loans should all be 0% or something very low, and it should be retroactive. People should pay back what they borrowed but not be in debt for the rest of their life for their education. That being said, she shouldn't have taken out over 100k for an education.
It's worse..she said they make 250-260k annually. So either she has no idea how much money they make, or they are making 12k/month EACH and the 250-260k must be after taxes??
I disagree. Student loans should have a high percentage interest rate because they are unsecured and most people don't want to pay them off after they graduate. People who don't go to college shouldn't be subsidizing people who took out ridiculous amounts for college loans mainly to enjoy the college experience.
I graduated in 1980, my first job as a Petroleum Engineer, overseas, $100K/yr, all expenses paid To be fair, tropical diseases and light sniper fire. My education was paid by an alumnus. A home in my company's point of origin (Houston, TX), $48K Chevy Silverado, $8500
IMO it’s difficult to set down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the BAY county area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
It's best to consult a financial advisor before making decisions. As a business owner and eBay reseller, I can attest that we are almost in recession and everyone is running out of money.
‘Grace Adams Cook’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
250k with those fixed expenses..... CLEARLY there's new car payments and other high debt outside of student loans. Ramsey would have caught that. She needs to sell those new cars and get a 10 year old Toyota Camry and a Rav4. Sell the new cars. Buy those with cash. Throw the remainder at the debt. You guys didn't even TOUCH on where that extra $6k+ is going.
It still doesn't make sense. AFTER rent and childcare they're still taking home $200,000 per year. In one year she could pay off her 100K loan and STILL have $100,000 which is plenty for living and paying a high car loan. Cars are not the problem.
My husband and I don’t make that much money but we live in a humble home. We made sure we bought one we can afford to pay and still have extra for other bills. It’s always about the choices you make.
@@kump32 it is all how you live. I take home about $4k a month at 20, supporting me and my wife who is in college, and able to put away/invest $1k of it a month
These people have no excuse IMHO for being in debt. They make big money. And they chose to have 2 kids before paying off their debt. Meanwhile, people who didn't go to college are stuck subsidizing people who took out ridiculous college loans that weren't necessary. At 28 years old, many people don't own a home.
They live in Pitt. They could confortably live on one income until the kids can be in school. They just wont have the fanciest apartment. $1800 in Pittsburgh is a REALLY nice apartment. $2000 will get you a townhouse rented. Three beds, easily.
I get the impression that some people think it's a child abuse for young siblings to share a room. I don't get it. While my sister and I eventually had our own rooms, early on we shared.
@@mrsterious5845 Yup. Child services actually does but for these tow that absolutley works for even 5 years. That $700 a month for 5 years will be a massive difference in the house they get and they can get that dream house right out of the gate.
The concept of individual rooms is very modern and first world. My friend slept with four siblings for a time. I always shared until my older sibling out. Our children share. Now I have friends whose children are in college, complaining they can't sleep because their roommate isn't in bed. Our kids have learned to sleep with a bit of noise so a single roommate won't be an issue (unless he/she is extremely inconsiderate).
They make $250k per year and can’t afford a house in Pittsburgh? They’re living beyond their means. They didn’t even ask how much the car payments were.
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I get that it’s hard right now, we’re all feeling that. But she’s bitter at the wrong thing. She went to an expensive private school and chose not to think about how much debt she was racking up over those 4 years. It’s not a one time decision she made at 18 years old. Also, what is she considering her take home pay? Because 12k per month is $144k annually. She later said that they make $250k annually. Where is all her money going?
I’m 41and finally pulled the trigger on a home. 3, bed, 2 bath, 1,500 square feet on a 7,000 square foot lot for just under a million. It’s expensive and the mortgage is way Way more than I’d pay for renting a similar home but it was simply time. My earnings are likely peaking, it’s now or never.
Child care is temporary. It's a hard few years while you feel so broke but at 28 there is lots of room for career and income growth. Hang in there. I have been there.
“We’re both engineers, so we took out loans” doesn’t track. Most engineers I know did the math and realized private engineering school is stupid because math is math.
I promise you that this caller is trying to live a lifestyle that reflects their salary. They want the new car, the big house, etc. When in reality they are doing a lot better than most people and they still complain about everything.
Financial education is what we need right now for more than 70% of the society in the country as very few are literate on the subject. Thanks to Stacey Macken, the woman that changed my financial life.
Honestly, I'm surprised that this mrs Stacey Macken is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely well .
She understands every beginner's intention and fix you to a trading course that matches your capacity, she knows her stuff! Her advice has been invaluable to my trading journey. Definitely worth giving a shot
I agree with you.I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Stacey Macken guided me through budgeting, highlighting areas where I could optimize spending and increase savings. She also provided insights into smart investments to grow my wealth over time, ensuring financial stability even with the higher income
what does stuck with student loans mean? i mean they signed papers for a loan right? they want to buy a house and will take a loan right? you are supposedly educated right? so don't they tell you about economics 101?
A lot of parents will tell their kids to sign those loans because "school is the most important thing." 17/18yr olds don't understand how serious it is, especially when their parents want them to go to fancy schools and get fancy degrees and encourage them to sign those papers.
Dont agree with’suspending’ 401ks, should always try to get the employer match max. Free money. Borrow against the 401k instead the interest is paid to yourself. And protected in bankruptcy if things dont go according to plan.
Even an 18 year old knows what debt is. I don't buy the victimstance. They make 12k a month. Pay off the debt, big deal. Live below your means for once in your life.
There's nothing shameful about being a renter long term. I didn't buy my first home until I was 40 years old. For a long time I was jealous that my friends in their 20s and even my sister and her husband in their 20s were becoming home owners and I was stuck living in non-luxury apartments and living with mom and dad for 17 years. I felt like the underdog so owning at least a basic home in a decent neighborhood was out of reach for me. But over the course of 17 years, I played my cards right, and with patience and prayer, on one source of income as a single man I was finally able to put 20% down on a basic well built small ranch home in a nice middle class neighborhood. My total house payment is only 18% of my take home pay, so I have plenty of room to pay my other bills with ease in addition to investing and saving. Most would consider my house a starter home, but for me it will be my forever home.
I’m sick and tired of the idiots who call in saying that they didn’t understand the student-loan trap because they were 18. At 18 they should have been able to do the basic arithmetic of principal plus interest. And everybody knows that out-of-state universities and colleges are more expensive than in-state ones. It ain’t rocket science.
Average kid costs a year: $30K Average person makes : $63K. Conclusion: Most people can't afford kids. Idc why this is revolutionary and controversial information. Keep your legs close until you get married. Marry someone that is on baby step 4 and higher and making a high income. Finances is #1 cause of divorce. Take care of your finances before and after getting married. Yeesh people.
Logically you are correct. Emotionally, there is a constant pressure to have kids regardless of your financial situation. Even Dave suggests to people to have kids even knowing they currently can't afford them, but says stuff like "things will end up finding a way to work themselves out", "you'll probably get a raise before you actually have them", "kids are great, everyone needs to have more babies". Also, age 35+ being the high risk pregnancy age doesn't help either.
My husband and I were 42 before we were able to afford our first home, we are on track to have it paid off by the time we retire. I highly recommend waiting until you can afford to own a home rather than waiting until you're ready to buy a home. What you pay for your home is the just the base cost of homeownership, what you're going to pay in upkeep, etc is only going to go up from there. Try not to "should" yourself into misery.
$1,500/month is not a lot for childcare. If the parents are each working 40 hours/week, their daughter is in daycare approximately 47 hours/week or 188 hours/month (taking into consideration the parents' one-hour lunch break and travel time from/to the daycare facility). $1,500 ÷ 188 hours = $7.97/hour paid to the daycare provider.
47 hours/week is 204 hours/month. Not 188. Few things piss me off more than geese who think there are exactly 4 weeks in a month. It's 4.33 to be more exact (although not perfect).
The issue .... more than ever , is that people talk more than they do . People have ultimately become the weakest version the human being has ever seen . This shit I accomplish when I'm in the real world simply reminds me how much more human I am than many . Trust me , no arrogance is attached. As I am walking around city streets & stores , etc . I see the frailty & vulnerabilities in 2/3rds of them . Local 12 Operating Engineer . I started as a Rodbuster at 18 , worked oil rigs in the Gulf of Mex for 11 years , went into the Union Laborers in Las Vegas & am now an operator . I'm 42 . Step up .
$12,000 Net monthly income and she's complaining. Subtract the $3K in childcare and they are still left with $9,000 Net per month. And they are only late 20s. Drive thru some mobile home parks or thru the row homes in the city and maybe you'll get what I'm trying to say! And if you don't get it well I can't help ya.
I came here to write about lack of responsibility. Starbucks, fancy cruises, shopping sprees and choosing to have kids that you can't afford. But it looks like y'all already have it taken care of, carry on. 🤣🤣🤣
I'd love to see the balance sheets on these daycare facilities to understand the justification of charging that much for two kids, when these facilities are packed full of children.
My mom is head teacher at a preschool. She has been head teacher at two other schools previously. A lot of these schools are owned by people outside of the education industry. Someone will run a successful hair salon or restaurant and then decide to branch out into childcare (usually around the time they have grandkids). These places are fueled by nepotism and incompetence. They don't know what they are doing, and they don't listen to the professionals they hire.
I've only recently reached 100k a year and have been working out of college for 9 years, I've bought 2 houses, maxed out retirement accounts, and paid off all student debt. I lived with roommates, didn't buy expensive car, stayed out of CC debt, and didn't go on lavish vacations. Very rarely is the issue an income problem, while often it's a spending problem. They seem to be spending themselves out of reaching their goals.
It’s the immaturity for me. No patience. Wants instant gratification. Just like a 2 year old. Guess what.. When you decide to take on that much debt, it’s probably gonna take a minute to be able to own a home. Especially if your priorities are causing struggle on a 12k/mo income. That’s not a childcare cost problem. That’s a you problem.
I'm a civil engineer. I had $42k in student loans. Paid it off in 2 years. And this caller and husband take home $12000 a month and they're making excuses why they can't pay off debt? Come on
With only $4k-5k in expenses....where's the other $7000 per month going?
How much were you making at the time?
I though she was saying 12k/month combined, but she said 250-260k/year so that over 12k/month has to be EACH..so it's more like where is the other 19k going??
@@st0rm4g3dd0n it’s not 12k each! Those incomes are taxed like crazy
@stOrm4g3ddOn it’s not 12k each! Those incomes are taxed like crazy, along with 401k, dental etc
Take home 12k a month and you cant afford a home? Get real. You just cant afford the beautiful home that you want.
There are counties in the country where 12k doesn't get you even close to a condo.
Unfortunately the middle class in my area with 3 people is $160k according to some updated figures. So they're, supposedly 90-100k more gross but some areas have literally doubled since 2019 on terms of basic living expenses. For example I'm in Ohio right now for a work trip, I filled up nearly $1 less a gallon from Michigan, I was equally pissed we have one of the highest gas taxes, but astonished at the same time.
@BirdDogey1 Pittsburgh where they live is not one, though
It’s really difficult to afford the Instagram home and the lifestyle for the gram while you’re so deep in debt.
People under 30 act like there were never any struggles in the past or that everything was cheaper and easier blah blah blah.
Everyone 50 years ago lived a completely different lifestyle than people considered to be in poverty do today.
Eating out constantly was not a thing. It was rare. Vacations were to visit family. Clothes unboxing is what we did on Christmas morning with the toy being last - singular!
Quit trying buy your way into happiness. It doesn’t work!
We don’t make close to $12k a month and we bought a house last year for $130k. It’s over 100 years old and every room needs some kind of updating. We’re doing a little at a time. This is *updating*, the house is totally livable from the moment we bought it. I’m not talking about a gut job and living in a construction site.
Something tells me she wants brand new everything and a 500k house.
This is just entitlement!!!!
Calls to complain even with 250k.
That’s just insane.
This is totally absurd.
She doesn’t even understand what it means to be in a real world.
She doesn’t have a problem at all
The much stronger relevancy was and is what is most important to spend money on and what's least important.
She should contribute to your retirement diligently, or better still look into financial planning don't come to youtube for advise, consult a Local or trusted online broker/planner.
How did you find a good finance advisor? How do you know if they are trustworthy and competent.
She took out the debt… decided to have 2 kids while in debt… yet she’s angry at everyone else but herself.
“I can’t blame myself for being 18” 😂 when I was 18 I chose a school where I could live at home & received a full scholarship. Why do people talk like all 18 year olds spend money so recklessly? You don’t have to. Certainly not well over $100,000
Zero accountability
@@RachelPettersenyup! My husband and I did not go to college because we never wanted to debt. We’ve never borrowed money and yes we made the decision at 18/19
@@catherinethompson6531 exactly. You can make the decision to be responsible young. You don’t have to wait
I went to the cheapest state school I could find, she CHOSE to go to a private school ffs
My coworker and his wife are both engineers. They lived on her salary and saved his. They both just recently retired at 45 and moved to Spain.
That's the way to do it. We had some friends that did exactly that. Lived on her income and saved his.
That is what my husband and I did. We are both engineers, before starting to have kids we learned to live off one salary. We also went to state schools with merit scholarships so graduated with a small student loans. We paid off our home by 39 and have been debt free ever since. Now have 3 kids in college and we are cash flowing their education. The rest of our money goes to retirement.
Why would you do that? What's the difference if both pay? They will both have half of their salary.
@@wayne9287 Two reasons. First, usually the wife make less money. So if they live off her salary and save his, they are living below their means.
Second, the wife is the one who gets pregnant, so she is the one who would quit or reduce working. Her job is less permanent, his job is considered the permanent one.
The worst situation is when they live off both the incomes and they she gets pregnant and quits, and suddenly the family income is cut in half.
what was they making?
This person isn't ready to make sacrifices and rather keeping up with the Joneses.
She literally says she’s angry because she can’t get what she wants
@@mxerb5912 truly amazing....
I'm bitter that I can't afford my own private jet.
Come on, you have to blame somebody for your misfortune...😂😂😂
Ha ha. Funny
We’re so oppressed without a private jet!! 😂
Get on rice and beans it will happen.
Ya but shelter != private jet
Zero sympathy for people who make 12k a month. Holy shit.
Exactly.
I think these kind people are pulling our legs. She is just showing off
Holy shit is spot on.
That's only $140k a year, before taxes even. That's de facto middle class these days.
@@franksnow5165not true
Notice how she speaks. She didn't make a mistake by picking a school that cost too much, she somehow "got stuck with" the student loans. She's not going to change because she doesn't think any of this is her fault. She speaks as if external forces foisted this debt up her.
It astounds me the number of people who feel they lack any agency in their lives. While not everything is within a person's control, some things are.
I finished my engineering degree with a $30k student loan. That was no accident. I picked an affordable school and worked my butt off to get scholarships and jobs during school to minimize the debt. It was a priority for me.
"What do you make yearly"
"You mean annually?"
Yes that's another way to say it engineer😂😂
I thought that was funny too lol
She bought her degree and was a DEI hire
I know I thought that was odd. I also thought it was odd that she didn’t know what she matched with the company for their 401(k) that’s pretty basic
I don't understand people who don't know how much they make a year. Especially if they're salaried. Shows how disconnected she is from their finances.
6 fig education 😂😂
This will be the same caller a year from now telling us they can’t afford the house they bought…
😂😂 So true…
@@tmi4507 😅😅😅😅 Yep
I can almost see the title: How do we afford to update our 2 year old new build custom million dollar McMansion at these prices? Not fair "
100%
Bingo!
12k? but she would never tell you on the weekends they're going to restaurants and shopping...
i'm sure during the time they had their student loans, they have vacations, holidays, etc.....
lack of responsiblity is the root cause about "student loan debt"
how about thinking before you procreate...... it's not difficult
A engineer that doesn't know the numbers scary.
And vacations.
She said 250-260k/year so that's 12k EACH...
Exactly...
I want to break my computer listening to a family who makes 250k complaining about finances.
I mean, it’s a decent salary but nearly not as good as some of you guys are making it seem while having a family
@@reese85yes it is. Especially in Pittsburgh
@@reese85😂 ok you’re nuts
@@silentnot4812no kidding. Senior chemical engineer and make a little more than one of them. What a whiner
@mxerb5912 I hear that a lot in these comments but it’s truth! Ppl in these comments tend to overvalue these “so called” high incomes
Sense of entitlement is out of this world.
You don't understand. "They" made her do it. It's their fault.
Nah, everything is crazy expensive...I owned a house in 2010 making 12 an hour no prob. Not possible now unless you find a shack in 2 hours outside of a major city. Maybe partly entitlement, but it is way harder now.
@@BTrain-is8ch That darn "They" strikes again. 😤
@@keiseanb1 ...and I'll follow-up by saying, "whoever "they" is" 🙄
@@user-rw8zj1td9v It is harder, but they're not earning $12 an hour.. Earning $250k a year, and saying we can't afford a house is ridiculous.
She's in Pittsburgh?! She could buy three homes tomorrow with that salary. She must be EXTREMELY picky.
Yep. No sympathy. I’m in the Seattle area where a single family detached home starts around $700k.
She says she was stuck with student loans. That sentence tells you everything about the mindset of accountability with this person.
She fell for the lie that the government was going to forgive her loan and when that didn't happen she is having a hard time accepting the fact that SHE will be responsible for her own debt.
The loan services are predators and did unethical contracts, including schools and government agencies, raising tutuition 400x in the last 15 years.
Blame everyone but the people in the mirror.
Oh, Katelyn. Going through life with that attitude will get you nowhere. Please take accountability.
Also a young millennial here and 28 😊 I just closed on my new home and I’m single! I used to think it wasn’t possible until I made hard sacrifices and became debt free before buying a house. I make less than half of your house hold income so It’s possible ma’am just clean up that debt
Depends on the location
@@asnmdnssAs a Mortgage Underwriter there is a lot that’s factored when trying to purchase a home
Good work! Congrats on your new home. 🏡
@@blabbinglobster thank you!
Hope you can pay it off quick at that 6%
I make 6k a month as a nurse in NYC. Paid off 45k in students loans, 30k in car loans. Just closed on my home in Brooklyn last month all by myself. I did all that in the span of 4 years of being an RN. It took a lot of discipline tho. This couple makes twice of what I make and still complains. Smh
When you were doin all of this, were you living on your own?
@@reese85 My mom lives with me. But I pay all the bills. The only bill she can afford is the light bill some months.
Do you pay rent?
They have 2 kids they spend in daycare and you didn’t plus she had $100k loan which was less than what you had. Please don’t bash and compare. You make half of what they make and you only have to provide for yourself. They have 4 people to take care of. Your situation much easier.
More*
This call is about money management, not child care costs.
She feels entitled and takes no responsibility.
“We got stuck with student loan debt” - that’s impossible. You signed up for student loan debt.
It’s also not normal to have two kids in mid twenties while still six figures in debt and THEN try to buy a house. Same attitude - she feels “stuck” paying for childcare. It’s YOUR kids! You chose to create them!
Exactly. Starting a family and trying to buy a house BEFORE paying off existing debt is how you stay broke.
I agree. They should have waited to have kids! Why would they have a second child at this point?
@@sanj6576 because they lack brain cells... I am older than them and haven't had any kids with my partner... NO WAY thats happening until we saved enough hard cash
And they most likely work in a field that expects a degree, meaning they wouldnt have that high salary if not for the student loan debt. People forget that student loans are an investment. For many people, its a bad investment. But for many others, it pays off big time.
She is just not smart, yes she is engineer like her husband but she is not using her brain. She can open up a business and borrow the money from bank then use that money to pay off student loans then file for bankruptcy. It’s doable without stressing with those student loans. She just needs to be smart
Nonsense to stop the 401ks with a company match. They have a spending problem blowing through 12k a month in Pittsburgh with low rent.
Exactly. They have a budget problem. At 28, you should be pumping the 401k and Roth IRA. Fancy degrees with no common sense when it comes to money.
Yeah...They missed that part.
Yeah, no idea how she wasn't pressed more on where the 12k goes every month. Caller complaining about society and student loans when they're burning that much cash.
$3,000 / month on childcare will by $36,000 a year... 3 months of their combined salaries since she said they bring home $12,000/month.
Rent consumes almost two more months.
Leaves them 7 months worth of salary. I'd be interested to hear what kinds of cars do they have, how often they go out to eat, and their vacation habits.
They are living above their means. Eating out , vacations, luxury purchases
28 years old and she is angry that they don't have it all? Talk about entitled!
With $12,000 coming in each month, they have plenty of income, they must be spending a lot on non-essential goodies.
Observation: When you ask people who are bad with money what they make, they will give you their monthly income, not annual.
How is this an indicator?
@austhinndolu3099 People who respond this way often aren't seeing the big picture of their finances. They're too busy thinking "How can I squeeze by until my next paycheck?" to ever consider "What financial decisions can I make that will set me up for success in the long term?"
@@austhinndolu3099 Because it lets you know that they think in the short-term. Your monthly income feels more immediate and tangible, so it's a good indicator that they're focused on what money they can spend now, rather than considering the bigger picture with their annual income.
I am tired of people complaining about student loan. I went to architecture school, a 5 years program, but I took 6 years. I got a few thousands a year from Pell Grant but I PAID for EVERYTHING (housing, food, tuition, books, etc...) by myself since my parents were and still are poor. I finished college with around 25K in student loan and paid off every single cents. STOP ALL YOUR COMPLAINING.
Same! Scholarships, grants, jobs, multiple jobs, took 6 years but I paid it off in full 6 months post graduation.
Your story is about the same as mine. Ended up with a $30k loan and an engineering degree. Paid it off in 10 years without even trying.
She says “where I’m not 45 years old” like that’s old…”ugh, as if!” Friggin’ ENTITLEMENT.
I am 51 and lived in the first house I bought. 7 years ago. Why? Because I couldn't afford to take on purchasing a house before 7 years ago.
Yes! I laughed when she said that. Got my first house at age 45 and not complaining
She's 28 and will have two children, a high paying job, and child care will raise her children. That's entitlement. Take a few years to raise your children and rent.
Bitter is a product of entitlement.
And envy.
Bingo I, I, I, me,me,me. Think about the husband that went to a affordable school.
I think it's fair to expect the average sale of a home nationally to NOT almost break half a million. I make six figures, zero debt, and could barely afford an apartment style condo. I should be able to afford the gated community. But it just isn't realistic. And I don't even live in a big city!
Perhaps, but this market is ridiculous and very unobtainable even with a good salary. I'm bitter to an extent, but it is what it is.
Angry at who? You can afford a home with 12k monthly..
Classic pittsburgher
More kids.... yeah that's the answer! Lol
Right. $3k for childcare means you have $9k left…doable
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that or generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 56.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
Finding financial advisors like Jessica Lee Horst who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Two engineers with over 12k a month net income… one whining here “how unfair this world is to her because she doesn’t own a big house.”
Just listened to this. These guys took it so easy on her. Her problem is they don't budget at all spending likely like it's going out of style. Big car payments. IDK. Where is all their money going for all the money they make? They're doing something massively wrong.
YOU should blame yourself. YOU took out debt. YOU had your hand out for money. YOU have to deal with consequences.
It’s just sad that no one tells you the ramifications of going to an expensive school. Luckily I went 2 years community college and 2 years in state, but so many people get rekt. Unless you 100% have a path of what you want to do, you should be forced to go to community college.
There was a video from DC with a person crying about the same thing, The audacity of these people to think they are not responsible for their loans. WTF. You signed the promissory, you got the education, you pay for it. Unlike a car note, it will not take 4 years to pay off. Because it have a higher balance, it will take longer. For educated people, those people certainly make themselves look dumb. Basic math people and personal responsibility.
I’m so sick of those people.
Yes, you're ultimately responsible, but it's wrong that even your own parents encourage you to take on student debt.
Agreed. My parents told me to get scholarships and I applied to them like they were a job. Thankfully zero student loans. Ultimately though people should understand what they are signing.
@@tduck828People don’t understand because they don’t have to worry about it at that moment. Loans don’t kick in until after graduation, but the fact is the person signing up for the loans are gambling that they can pay back the loans or if they go into a good paying career field. Going to college is essentially gambling that’s backed and endorsed by the government and sadly it’s not seen as evil as it should be. Education is good, but college on the other hand is debatable as the value of a degree goes down.
This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.
That's quite impressive! Can you share more information about your financial advisor?
'Sophia Maurine Lanting is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
I am on her website doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call. Thanks for sharing
"I can't blame myself" Try harder.
what's she complaining about? She's two people income and their rent is so low while their income is so high. Simply, she just needs to do some math and budgeting. That's all.
Exactly. Seems like they need to just save first and then spend whatever is left. So many people do the reverse and save whatever's left after their spending. This is especially true from high earners that don't feel the need to have a budget.
$3k/month on childcare is enough to make someone mad but maybe that just means you delay buying a house a couple years. Seriously, that’s not the end of the world. Is just a side effect of choosing to have kids these days. This stuff is easy to research and plan for.
I feel zero sympathy for these people. $12,000 take home - $3000 for child care-$1800 for rent and they can't pay their debt off or save for a down payment? People who make less than half that are doing it. They need to prioritize. Only thing I would say is that I do think that student loans should all be 0% or something very low, and it should be retroactive. People should pay back what they borrowed but not be in debt for the rest of their life for their education. That being said, she shouldn't have taken out over 100k for an education.
It's worse..she said they make 250-260k annually. So either she has no idea how much money they make, or they are making 12k/month EACH and the 250-260k must be after taxes??
@@st0rm4g3dd0nif they make $250k annually together they deserve to be laughed at.
I disagree. Student loans should have a high percentage interest rate because they are unsecured and most people don't want to pay them off after they graduate. People who don't go to college shouldn't be subsidizing people who took out ridiculous amounts for college loans mainly to enjoy the college experience.
Her loan amount is from a private college which is on her and with their income it's a horribly lame excuse.
When she says she can't afford a home, what she really means is she can't afford an $800,000 home.
I didn’t get a house til I was 40. I’m a boomer
And that’s fine 🙌🏽 everyone moves at their own pace.
I graduated in 1980, my first job as a Petroleum Engineer, overseas, $100K/yr, all expenses paid
To be fair, tropical diseases and light sniper fire.
My education was paid by an alumnus.
A home in my company's point of origin (Houston, TX), $48K
Chevy Silverado, $8500
I am a physician and bought my home when I paid off all my loans. Age 37. Guess what, owning a home is also expensive.
IMO it’s difficult to set down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the BAY county area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
It's best to consult a financial advisor before making decisions. As a business owner and eBay reseller, I can attest that we are almost in recession and everyone is running out of money.
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
‘Grace Adams Cook’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Patience is a virtue. I am not sensing much of that here.
The amount of high income people who call this show and complain about “living paycheck to paycheck” is honestly infuriating
Caller made a series of terrible choices. Private college, high cost of living, high child care cost, entitlement.
250k with those fixed expenses..... CLEARLY there's new car payments and other high debt outside of student loans. Ramsey would have caught that. She needs to sell those new cars and get a 10 year old Toyota Camry and a Rav4. Sell the new cars. Buy those with cash. Throw the remainder at the debt. You guys didn't even TOUCH on where that extra $6k+ is going.
Exactly.
It still doesn't make sense. AFTER rent and childcare they're still taking home $200,000 per year. In one year she could pay off her 100K loan and STILL have $100,000 which is plenty for living and paying a high car loan. Cars are not the problem.
@@DiscoFang taxes are going to eat the first third.
@@CitAllHearItAllThe salary amounts are “take home” which means after tax.
My husband and I don’t make that much money but we live in a humble home. We made sure we bought one we can afford to pay and still have extra for other bills. It’s always about the choices you make.
I bet they spend half their income on eating out, clothes, cars, toys and vacations.
I have a friend in a similar situation and that is exactly the case
They’re living real good, no doubt. Good for them..
@@tonytoni1150 you can have an amazing life either way. One is irresponsible, one isn’t.
lmao so true! I have a friend who cries how the world is against him.....but spends like they are Richy Rich!
@@kump32 it is all how you live. I take home about $4k a month at 20, supporting me and my wife who is in college, and able to put away/invest $1k of it a month
These people have no excuse IMHO for being in debt. They make big money. And they chose to have 2 kids before paying off their debt. Meanwhile, people who didn't go to college are stuck subsidizing people who took out ridiculous college loans that weren't necessary. At 28 years old, many people don't own a home.
She can’t pay off debt at 9k after child care? 🤨
They live in Pitt. They could confortably live on one income until the kids can be in school. They just wont have the fanciest apartment. $1800 in Pittsburgh is a REALLY nice apartment. $2000 will get you a townhouse rented. Three beds, easily.
They are an embarrassment to engineers. We do not claim them lol
Nah, these are definitely your people. 😂🙄
@tonytoni1150 hmm the profession most likely to be millionaires are engineers 🤷♀️ maybe they didn't get the memo lol
Just because you go to engineering school doesn't mean you're an engineer.
@@captainh3831 i cant slag him cause we didnt seem 2 get any of his details. but im almos certain shes an 'environmental engineer' 🙂
😂😂
She is lucky that her kids are small. They can share a room. A couple of years in a 2 bedroom is doable while they get out of debt
I get the impression that some people think it's a child abuse for young siblings to share a room. I don't get it. While my sister and I eventually had our own rooms, early on we shared.
@@mrsterious5845 Yup. Child services actually does but for these tow that absolutley works for even 5 years. That $700 a month for 5 years will be a massive difference in the house they get and they can get that dream house right out of the gate.
The concept of individual rooms is very modern and first world. My friend slept with four siblings for a time. I always shared until my older sibling out. Our children share. Now I have friends whose children are in college, complaining they can't sleep because their roommate isn't in bed. Our kids have learned to sleep with a bit of noise so a single roommate won't be an issue (unless he/she is extremely inconsiderate).
@@eurekahope5310 I mean we live in the first world right? But agreed many other things are more important.
They make $250k per year and can’t afford a house in Pittsburgh? They’re living beyond their means. They didn’t even ask how much the car payments were.
im settin the o/u @ 689 4 her lux. suv. & 595 4 his sport sedan. 🙂
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Must be nice to be an adult and to think you live in a world where you deserve something
Don't see a problem here. Great income and the Pittsburgh area is one of the cheapest in the country
"I cant afford a home" says the one expecting a 2nd kid at 28yo already 100k in debt
They want it all with no sacrifice. Crazy
The lack of accountability is shocking
I get that it’s hard right now, we’re all feeling that. But she’s bitter at the wrong thing. She went to an expensive private school and chose not to think about how much debt she was racking up over those 4 years. It’s not a one time decision she made at 18 years old. Also, what is she considering her take home pay? Because 12k per month is $144k annually. She later said that they make $250k annually. Where is all her money going?
Taxes that’s where it’s going lol
TAXES… the answer is always taxes when you make more than $100k.
Taxes plus 401k
The 250k would be before taxes.
That would be a 40%+ effective tax rate. Never heard of that in America outside of millionaires.
I’m 41and finally pulled the trigger on a home. 3, bed, 2 bath, 1,500 square feet on a 7,000 square foot lot for just under a million. It’s expensive and the mortgage is way Way more than I’d pay for renting a similar home but it was simply time. My earnings are likely peaking, it’s now or never.
Child care is temporary. It's a hard few years while you feel so broke but at 28 there is lots of room for career and income growth. Hang in there. I have been there.
True but it's only 12% of their income also.
But Katelyn wants it all NOW.
“We’re both engineers, so we took out loans” doesn’t track. Most engineers I know did the math and realized private engineering school is stupid because math is math.
I promise you that this caller is trying to live a lifestyle that reflects their salary. They want the new car, the big house, etc. When in reality they are doing a lot better than most people and they still complain about everything.
Financial education is what we need right now for more than 70% of the society in the country as very few are literate on the subject. Thanks to Stacey Macken, the woman that changed my financial life.
Honestly, I'm surprised that this mrs Stacey Macken is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely well .
That woman has changed my life for good. I attended her investment class couple of weeks and she's the best when it comes for guidance
She understands every beginner's intention and fix you to a trading course that matches your capacity, she knows her stuff! Her advice has been invaluable to my trading journey. Definitely worth giving a shot
I agree with you.I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Stacey Macken guided me through budgeting, highlighting areas where I could optimize spending and increase savings. She also provided insights into smart investments to grow my wealth over time, ensuring financial stability even with the higher income
People putting their children in a “facility” !?!
I know, I was like...what?
I get the sense she called in to humble brag. Next caller, please? 📲📞
@@ivyworth862not sure how a "facility" is a humble brag, when it makes people think of mental institutions or seniors homes.
@@dudeorduuude5211 I made 2 separate statements. Again, I get the sense she called in to humble brag. I said what I said.
Because we were both engineers, we got stock with student debt? How does that make any sense. If anything, as engineers, you should have known better.
Living wayyy above their means.. 100k for an engineering degree? Duh??
She doesn’t even understand what they make a month. And has to have “annual” explained.
1 gets ya 5 shes an 'environmental engineer' 🙂
I love people making over 6 figures who complain about money lmao
12k per month in Pittsburgh with 2 kids, come on, spending is the issue
I bought a townhome last year on 60k a year and $3,600 a month net. I have no debt other than the mortgage.
I'm bitter that I can't afford my 3rd home in Aspen. Life just isn't fair for us young millennials
what does stuck with student loans mean?
i mean they signed papers for a loan right?
they want to buy a house and will take a loan right?
you are supposedly educated right? so don't they tell you about economics 101?
A lot of parents will tell their kids to sign those loans because "school is the most important thing." 17/18yr olds don't understand how serious it is, especially when their parents want them to go to fancy schools and get fancy degrees and encourage them to sign those papers.
She bought her degree didn’t earn it
I guess after she manages to buy the house she will call back and say she is "stuck" with a mortgage payment.
Dont agree with’suspending’ 401ks, should always try to get the employer match max. Free money. Borrow against the 401k instead the interest is paid to yourself. And protected in bankruptcy if things dont go according to plan.
Even an 18 year old knows what debt is. I don't buy the victimstance. They make 12k a month. Pay off the debt, big deal. Live below your means for once in your life.
There's nothing shameful about being a renter long term. I didn't buy my first home until I was 40 years old. For a long time I was jealous that my friends in their 20s and even my sister and her husband in their 20s were becoming home owners and I was stuck living in non-luxury apartments and living with mom and dad for 17 years. I felt like the underdog so owning at least a basic home in a decent neighborhood was out of reach for me. But over the course of 17 years, I played my cards right, and with patience and prayer, on one source of income as a single man I was finally able to put 20% down on a basic well built small ranch home in a nice middle class neighborhood. My total house payment is only 18% of my take home pay, so I have plenty of room to pay my other bills with ease in addition to investing and saving. Most would consider my house a starter home, but for me it will be my forever home.
I’m sick and tired of the idiots who call in saying that they didn’t understand the student-loan trap because they were 18. At 18 they should have been able to do the basic arithmetic of principal plus interest. And everybody knows that out-of-state universities and colleges are more expensive than in-state ones. It ain’t rocket science.
Average kid costs a year: $30K
Average person makes : $63K.
Conclusion: Most people can't afford kids. Idc why this is revolutionary and controversial information. Keep your legs close until you get married. Marry someone that is on baby step 4 and higher and making a high income. Finances is #1 cause of divorce. Take care of your finances before and after getting married. Yeesh people.
Logically you are correct. Emotionally, there is a constant pressure to have kids regardless of your financial situation. Even Dave suggests to people to have kids even knowing they currently can't afford them, but says stuff like "things will end up finding a way to work themselves out", "you'll probably get a raise before you actually have them", "kids are great, everyone needs to have more babies". Also, age 35+ being the high risk pregnancy age doesn't help either.
@@RyChOr2005 Dave said those words?
@@RyChOr2005 Dave is a right wing ideologue with bad advice. Truth is in the middle.
I would love to be in this kind situation, rich people problems. Let me get back to my reality
Dave would have asked about their cars, and other things that they are paying for on a monthly basis.
Yup.
My husband and I were 42 before we were able to afford our first home, we are on track to have it paid off by the time we retire. I highly recommend waiting until you can afford to own a home rather than waiting until you're ready to buy a home. What you pay for your home is the just the base cost of homeownership, what you're going to pay in upkeep, etc is only going to go up from there. Try not to "should" yourself into misery.
We didn’t buy our house until we were 39 and 45….houses are expensive!
In 2010, I bought an unmarketable Fannie Mae foreclosure for $50K,
Age has nothing to do with price.
I’m 12 years old. I have 2.67m in debt. I paid it off in 4.789 months. Thanks Ramsey for your support.
So proud of you lol 😂
Lol. Well done!
You work for a Cartel?
Moral of the story is not how much you make but how much you save.
$1,500/month is not a lot for childcare. If the parents are each working 40 hours/week, their daughter is in daycare approximately 47 hours/week or 188 hours/month (taking into consideration the parents' one-hour lunch break and travel time from/to the daycare facility). $1,500 ÷ 188 hours = $7.97/hour paid to the daycare provider.
47 hours/week is 204 hours/month. Not 188. Few things piss me off more than geese who think there are exactly 4 weeks in a month. It's 4.33 to be more exact (although not perfect).
@@amireallythatgrumpy6508 4.33333333333333333333333333333333333333333333333333333333333333333333333333333
@amireallythatgrumpy6508 It's obvious that you are incandescent with rage yet again.
@@KathleenMcNe Quite the opposite, sweetheart.
Don’t stop the 401k match, it is part of your salary.
perhaps, but sumtin has 2 give. cars? clothes? travel? restaurants?
The issue .... more than ever , is that people talk more than they do . People have ultimately become the weakest version the human being has ever seen . This shit I accomplish when I'm in the real world simply reminds me how much more human I am than many . Trust me , no arrogance is attached. As I am walking around city streets & stores , etc . I see the frailty & vulnerabilities in 2/3rds of them . Local 12 Operating Engineer . I started as a Rodbuster at 18 , worked oil rigs in the Gulf of Mex for 11 years , went into the Union Laborers in Las Vegas & am now an operator . I'm 42 . Step up .
$12,000 Net monthly income and she's complaining. Subtract the $3K in childcare and they are still left with $9,000 Net per month. And they are only late 20s.
Drive thru some mobile home parks or thru the row homes in the city and maybe you'll get what I'm trying to say! And if you don't get it well I can't help ya.
I came here to write about lack of responsibility. Starbucks, fancy cruises, shopping sprees and choosing to have kids that you can't afford. But it looks like y'all already have it taken care of, carry on. 🤣🤣🤣
I'd love to see the balance sheets on these daycare facilities to understand the justification of charging that much for two kids, when these facilities are packed full of children.
My mom is head teacher at a preschool. She has been head teacher at two other schools previously. A lot of these schools are owned by people outside of the education industry. Someone will run a successful hair salon or restaurant and then decide to branch out into childcare (usually around the time they have grandkids). These places are fueled by nepotism and incompetence. They don't know what they are doing, and they don't listen to the professionals they hire.
Who the hell told you to have kids before you buy a house 😂
🤣😂 society they said have a kid in a one bedroom
Or to have children, look into home buying when already stressed about student loans?
To be fair, it's easier to have kids than buying a house in this day and age.
Can't afford a home? So about everyone else.
If she knew what daycare was for one kid, why would she have a second child right now?
Cant afford to live with one child so lets have another one.
Don’t make a kid because it costs like $100,000 dollars from 0 to 18 years
This doesn't add up, 260K a year is closer to 21k a month before taxes. She doesn't even seem smart enough to know her own situation. Pathetic call.
Your not smart enough to realize she said TAKE HOME. 12k take home is 250k before taxes genius 😂
@@OUTDOORS55thank you. Definitely some commenters on here that need to break it down on paper as their math is way off.
After taxes net for $100k is $5000 so 12k is right
I've only recently reached 100k a year and have been working out of college for 9 years, I've bought 2 houses, maxed out retirement accounts, and paid off all student debt. I lived with roommates, didn't buy expensive car, stayed out of CC debt, and didn't go on lavish vacations. Very rarely is the issue an income problem, while often it's a spending problem. They seem to be spending themselves out of reaching their goals.
We make 8000 bring home i can buy a house at 4000$ a month no issue but im debt free so theres that
It’s the immaturity for me. No patience. Wants instant gratification. Just like a 2 year old. Guess what.. When you decide to take on that much debt, it’s probably gonna take a minute to be able to own a home. Especially if your priorities are causing struggle on a 12k/mo income. That’s not a childcare cost problem. That’s a you problem.
Lifestyle creep and no budget. They are both engineers for goodness sakes. Are they incapable of basic mathematical functions?
Sounds like a spending issue. Doesn’t add up why they’re having challenges on obtaining a house.
Wow!!! $250,000 a year and bitter that you can't afford a home!!!😳