And then a funny thing happens: You've been living poor (more accurately - frugally, intentionally and disciplined), for so long that once you do pile up some cash and no longer have to, you grow accustomed to being careful with money and not caring about impressing your neighbors.
I did the same thing I had a car that was paid off sold it got a $5000 car and paid off my wife’s debt and there’s been a massive lifestyle difference. to the point to where we can now afford $600,000 home and it’s still hard to realize that to be honest
@@poolmilethirty2859 exactly, he will keep rolling this debt around and in his mind he will fix this before his wife ever notices, meanwhile, she doesn't know how bad it is so she will want vacations, dine outs, etc etc, meanwhile the debt will continue to grow, he will get resentful, she will feel it, and so on so forth, it will not end will unless he comes clean now
If this man died suddenly, imagine the mess he left behind for his wife. Their response to his mess really irritates me. This is financial infidelity all the way. He's lied to his wife for years.
She also stuck her own head in the sand. She's an adult who has no idea what is going on in her own financial life. She's equally responsible for not being involved. Does she not see the mail, the bills, the IRS letters etc?
@@clarifyingquestionswe don’t know that she’s in the dark, he might be telling her everything is fine. Sure, she should be asking for more details, but if your partner lies about your financial state then they take the majority of the blame
The best, the kindest, most generous thing you can do for a spouse is to let them know what is going on with the money you share. If death or divorce parts you, the survivor will be miles ahead in going forward in his/her life.
I chased stuff and showed off my entire life. Ultimately, I could not get rid of the things I purchased for a dollar. And all the friends I tried to impress were nowhere to be found. So...do not make this mistake folks.
I was only child, mother raised until she was involved in car accident at 12, passed around to relatives for 3 years, then mother on SSDI, and was poorer than dirt! No education, but more common sense than 99.999999 percent of people. Married 45 years, 3 college grads daughters, bought 7 houses and sold 6 houses, house paid off. IRA in millions. Didn't live by the Jones, lived well, but went 30 years with 5000.00 cars, drove them 250,000. No boat, no 4 wheeler, no snowmoblies, no motorcycles. Now i'm retired and living the life!
Hello sir! Under that unhappy and unlucky circumstances, how did you made that money in the first place? I am a 28 girl and I am trying to learn . Thank you
I’m a new dad, I moved from Tampa to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD and AVGO are strong buys this week.
well you could put a downpayment on a home and as well diversify as much as you can into Ai, energy and big pharm. stocks like Pfizer and JnJ, ASML, MLM and S&P 500 ETFs.
Certain ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.
monica mary strigle, you'll be in luck at this time of year to have a conversation. lady is hot topic in downtown manhattan and you must not be and accredited investor. Just browse.
This guy possibly grew up poor and envying others as an adult. Then he went all out upgrading his lifestyle. The cool thing is he is looking for help. I wish him all the best.
I don't like that people critize him so hard. He has some insight. Nobody's perfect. The only inexcusable thing he did was not telling his wife upfront what his situation was and is. She's in it with no fault of her own. In not telling her, he's living a lie.😢
@@Manihsi The IRS can garnish your wages or take money out of your bank account. Owing them is totally different than having credit card debt because banks cannot forcibly take your money.
He probably uses the travel trailer for work. If he’s a contract lineman, they use travel trailers instead of hotels. I know, because I’m in the utility industry.
Bad news- if you want to get out of debt, you're going to have to keep working a lot...for a long time. The long term goal of working less is great...but it is a loooong term goal.
I’d much rather work 40 hours a week and live in a modest house with no travel trailer, then be like this guy and work 60-80 hours and never see my kids
you can try to beat the concept into these peoples heads that they just need to flat out quit spending money they don’t have , but the reality is they aren’t willing to live minimalist lifestyles. they’ve lived the filet mignon lifestyle too long , and won’t downgrade their lifestyle, especially if all their friends are living large.
Bought himself toys, secretly racked up huge debt, has a stay-at-home wife that he has been lying to and she has likely been spending like a drunken sailor. Great guy. If he ends up divorced I would not be surprised but either way the wife is screwed. She is going to have to get a job to help get the marriage out of debt.
I see a pattern where these blue collar workers fall into a position that makes them way more money than the average person with their education is used to, practically overnight. But then they get into debt way deeper than they would have ever if they had a job making the average in their field. They end up working overtime just to maintain a lifestyle they could never afford and never have anything to show for.
This is financial infidelity. They didn’t call him out on this. Wife is going to feel very deceived. She may not put up with this immaturity and deceit
Three things. They didn’t focus here! 1) IRS PAID 2) SELL THE TRAVEL TRAILER AND MAYBE THE CARS 3) PAUSE THE IRA this call suffered with not the exact right path here! Where is Dave…
Wife doesn't need to work if he is making 180k a year. Him alone is above the average household income by miles. He should be able to work less and spend more time with family, if he manages the debt in the coming years.
I love your videos, but the best investment you can do right now is to invest in Forex trading, I'm saying this because since I started trading I've seen a difference...
I was in the same situation 2 years ago with my husband.. we had a "Come to Jesus" meeting after I wrote out all our debts and what we had left. We consolidated and got it all paid off but yes it took sacrifices and watching our budget with a fine tooth comb. Our debt was no where near that amount but it was a Wake Up call 100%. Anna In Ohio
I feel for this guy deeply, he needs to have that hard conversation, I was in the same boat, in my mind protecting my wife from the worry and stress I was going through, all that does is create resentment and stack problems on top of problems, you will never start digging your self out unless you come clean and get transparent about those finances brother, talking out of experience here.
And regular. Sort of sickening. Overlooking the fact that he did make a call for help. It's a good thing they dont work a crisis line. The suicide rate would be even higher than it already is.
Linemen work hard and make good/great money but also seemingly are all AWFUL with money. They all have to have big diesel trucks and travel trailers and boats and motorcycles, etc. The smart ones work 20-25 years and can get out of it.
@LEP021085 Hmm. He liked to fish and crab. They camped for a few decades. He liked to bird hunt and had a small collection of really nice shotguns. He never seemed stressed and always content. I think "content" is the word you were looking for. They were married 60+ years.
Which is why no woman should be puting all her financial cards in one mans basket. Th fact that she knows nothing of the financial situation that directly effects her, is the number one reason women need education and independence before and after marriage.
Wife needs to get a job to have an emergency fund. I don't understand women that don't work in this day and age. I always worked to become debt free and for the kids to have college funds and drove toyotas for 25 years. 😕
I make less than 20k a year. A year ago, I broke my foot. I had 26k in medical for it o. Credit cards. I now owe 7500 on one card and payed the other off.
@dustyrhodes2717 I am 62. I have no debt other than my CC. I work part-time. I pay at least double or triple the recommended payment. I have a budget of $100 for groceries. I have chickens, so I have eggs for 2 meals. I own my house. I own my truck. I have my cell phone and my insurance for my truck to pay every month. That all is a total of $300 in monthly expenses. The rest goes to my credit card (approximately $12-1300 a month). I am living it. It makes sense and it works. I have an 800 credit score and I am single. If you can't see it makes sense now, you never will.
@dustyrhodes2717 I buy meat only. I drink water and coffee. I do not buy chips, soda, processed foods, junk foods (which is pretty much everything in the store now days) or alcohol. At 61 when I broke my foot, it healed super fast (walking on it after 5 weeks) because of my eating habits for my age.
Oooooo a lineman You know he’s got to get that giant dually truck to impress his buddies And the four wheeler And the bass boat And the travel trailer And the hunting lease
I live in Wyoming and young oil workers are guilty of the same thing. Then they lose their jobs and you find the truck on the used car lot and the video game system in the pawn shop.
@@rayhill5767 my son is a fighter and every guy at his station drive 60,000 dollar trucks and give him hell about his cash out the door Mitsubishi mirage. It gets 40 miles to the Gallon. He just laughs when they complain about being broke. He is frugal and has lots of money in the stock market at 22 years old.
You're delusional. They only bash men on the ramsey network. Every once in a while, they'll have a call with a lady and say she maybe could have done things differently.
@@GrandMa-hm5mbWhy do you care? It sounds like you didn’t get what you want and you’re whining about it instead of doing what grown-ups do, which is just watch something else if you think these two are being unfair.
Too many people hating on this guy. He did make the move to call in. I thought Daves followers our supposed to be Christian. Good luck to this guy. There are millions of people in the same boat.
Keeping this from your spouse is just thoughtless and cruel. If he dies, she will be left with a huge, very unexpected mess, that he created. This is not showing love
For this guy, selling the camper needs to be the first move. Why? Two reasons: 1. Camping is great, but it is never cheap. 2. Getting rid of the toy will send home a lasting reminder that money must be more wisely spent.
This guy is a madman....he owes everybody money except me and he has the nerve to say that he wants to work 50hrs a week.....this guy needs to work so much his family would need to own a ladder to see him during the week 😂😂 he shouldnt have a day off until 2030
Wife needs to find work to get this cleaned up also sell all the stuff you do not need it proves both spouses need to be on top of bills I know she sees all this luxury items in the house 🏠
If he has $120,000 in debt and makes $180,000 a year, I feel like Dave would have said for them to live on 100,000 and be done with it in two years. Yes, marriage counseling and stuff is important but let us not forget the math stuff. Some people need to hear that it is mathematically possible in simple terms, then address the behavior
We have a similar situation with the debt being too high and making all the payments is tough. Our lightbulb moment was when I became pregnant with our third child I really had a want to be more part time but with our minimum payments it’s just not possible because of lifestyle creep. We are fully aware of the severity of the situation and are working hard to fix it so that within a year of our baby being born I am able to stay home an extra day per week and care for our family the way I wish I could!! ❤ stay strong and reduce the debt to have the family life you wish you had
Guy is making $180K working 80 hours a week. Assuming time and a half for anything over 40 hours his job is actually paying a base of 70K ish for 40 hours. The massive pay number comes from overtime which doesn't seem sustainable. He either needs to keep working 80 hours a week or downsize his lifestyle massively.
The hardest struggle in a man's life. Wife to husband: You work to much and are never home for the kids and I. Husband changes and works less down to 36-40 hrs/wk. Wife to husband & friends: He doesn't work hard enough to provide for our family so I can be a SAHM, go on lavish vacations, and afford a McMansion.
I'm guessing normal income people never watch the dave Ramsey show because it seems every call talking i make 200,000 a year and can't make it. It just blows my mind. Ive raised 3 kids on 60,000 a year. No 5,000 sq. Ft. Houses, bmw's or awesome vacations but we paid bills and had food on the table. You have to live within your income. It's tough watching people who make good money go broke because they can't manage money. I bet they go to Disneyland 3 time a year, 2 new cars and a huge house... of course your broke.
I hope i'm wrong, but it doesn't seem like he's "had it" yet. He sounds more hopeless than frustrated, which could explain why he didn't keep up with the debt snowball in the past. No gazelle intensity. I hope he finds *hope* through setting some goals for himself and his family.
Why? If he can pull 180k/ year and live off 60k, that leaves 120k to pay off close to 500k. That is 4 years of living like a normal American. Bankruptcy will ruin him more than getting a budget and sticking with it. Edit: of course he has taxes but the math still works. He can live below his means and uses a good portion to pay Debt
@anonyghost7422 What is the downside to BK? Ch 13 is a tool that can allow him to keep his assets and stop all of the interest on his debts. It's a debt restructuring system. He will be held to a payment for a set number of years and then be done. Even Dave used BK.
@amireallythatgrumpy6508 What problems does BK cause? It has caused absolutely zero problems for me. I filed in 2022. I went to marriage counseling and we used the Every Dollar Premium now. Doing better than ever.
He's 27, working 80 hour weeks, and making $180K per year. That sounds a lot like a young/fit man's job. One injury or illness, and that's all gone. Sure, I've met guys in their 50s who were still able to do it, but they are rare. Save up for a rainy day, don't spend like you'll be young forever.
how people can live like that, i just dont understand. im 32 have 0 debt, but only around 30k in savings and i feel like i failed in life already. i guess i have to applaud people not just ending themselves in situations like these. consumer dept... idiots...
I see it everyday at work. New guys buying expensive toys and cars. I try to give them advice; but most of them don’t listen. Most of us make 6 figures income and a lot of them are living pay check to pay check.
Stories like this just show that you can be poor at an income bracket. He makes almost twice as much as my wife and I combined and I wouldn't trade places with his current situation at all.
If the wife thinks they are rilling in cash then can't blame her. He needs to explain to her hey we are flat broke. It would lower his stress tons because then they are fighting this together.
And then… their philosophy is to ALWAYS COMBINE FINANCES WITH SPOUSE!! This is exactly why you should NEVER combine all your finances with your partner.
Yes, he is incredibly wrong for keeping that big of a mess from his wife but, at the same time, I never get it when one spouse decides to completely delegate finances to the other. Aren't you just a bit curious of what's going on? Even the best intentioned and smartest people still make mistakes, so aren't two pairs of eyes better than one. I'd rather be a co-pilot instead of just sitting in the back.
He's just $30,000 shy away from being half a million $$$$$ in debt. 😢😢😢 Goodness, and here i am trying to get rid of the $500 i owe my mother and it's really bugging me coz i need to pay it off and never borrow cash from her again. I hope he pays thia off coz this is bad.
This is a classic example of someone who has a jump in income, and then thinks this means spending way more than the increase in income. When income goes up, people think they need to spend this money, and this spending often leads to financial ruin. When you have an increase in income, do not view this as an opportunity to increase lifestyle, view it as an opportunity to increase savings so you can enjoy life as opposed to trying to enjoy things.
What he wants is a magic wand. What he needs is self discipline. Y'all, if you are in a financial co-dependent relationship, you must set financial goals and objectives and have awareness of your financial situation. Both of you must actively participate. Stop living beyond your means! Credit is not your friend.
![[TH] 2024 PMSL SEA W2D5 | Fall | พลาดวันนี้ จะต้องเสียใจ](http://i.ytimg.com/vi/A5-Cuo12p6A/mqdefault.jpg)
![fellow fellow - PROUD feat. INK WARUNTORN [STRING QUARTET]](http://i.ytimg.com/vi/BQrVkMPTdHE/mqdefault.jpg)
Seven years ago, I took Daves advice "Live poor so your dont have to live poor". IT WORKS!
And then a funny thing happens: You've been living poor (more accurately - frugally, intentionally and disciplined), for so long that once you do pile up some cash and no longer have to, you grow accustomed to being careful with money and not caring about impressing your neighbors.
I did the same thing I had a car that was paid off sold it got a $5000 car and paid off my wife’s debt and there’s been a massive lifestyle difference. to the point to where we can now afford $600,000 home and it’s still hard to realize that to be honest
It's funny cause I've been living poor but I haven't stopped to realize I'm already living rich. Can't wait for 10 years where I'm rich rich.
Great example of what Keeping Up With The Joneses does to you.
Especially when the wife's in the dark about the finances. She alone will bankrupt the family. I've seen this happen with couples I know.
@@poolmilethirty2859 exactly, he will keep rolling this debt around and in his mind he will fix this before his wife ever notices, meanwhile, she doesn't know how bad it is so she will want vacations, dine outs, etc etc, meanwhile the debt will continue to grow, he will get resentful, she will feel it, and so on so forth, it will not end will unless he comes clean now
Beat me to it! Exactly, trying to look good to other people. I’m sure I would be shocked at how many others are doing the same thing
@@travisbickle1455 we but things with money we don't have to impress people we don't like.
If this man died suddenly, imagine the mess he left behind for his wife. Their response to his mess really irritates me. This is financial infidelity all the way. He's lied to his wife for years.
She needs a big life policy on him.
She also stuck her own head in the sand. She's an adult who has no idea what is going on in her own financial life. She's equally responsible for not being involved. Does she not see the mail, the bills, the IRS letters etc?
She should have one regardless because of his dangerous profession.@francismarion6400
Why is his wife content to be in the dark for the very reason you brought up in your comment.
@@clarifyingquestionswe don’t know that she’s in the dark, he might be telling her everything is fine. Sure, she should be asking for more details, but if your partner lies about your financial state then they take the majority of the blame
The best, the kindest, most generous thing you can do for a spouse is to let them know what is going on with the money you share. If death or divorce parts you, the survivor will be miles ahead in going forward in his/her life.
Imagine making 180k and you still can't live on that. Sorry, got zero sympathy for people like that.
San Francisco/san Jose enters the chat
Not so simple. Depends on where you live and the standard of living. You don't seem to be a deep thinker.
@@nothing-oj1szUm, he’s from Columbus Ohio…Midwest cost of living…
80-90 hours a week, a lot of overtime. This guy is essentially working 2 jobs.
One of the best comments, I know people who live in Columbus that survived off pennies. He must be hiding ladies of the night and gambling too.
I chased stuff and showed off my entire life. Ultimately, I could not get rid of the things I purchased for a dollar. And all the friends I tried to impress were nowhere to be found. So...do not make this mistake folks.
A couple of decades ago 'consumerism' was pushed - big time.
I was only child, mother raised until she was involved in car accident at 12, passed around to relatives for 3 years, then mother on SSDI, and was poorer than dirt! No education, but more common sense than 99.999999 percent of people. Married 45 years, 3 college grads daughters, bought 7 houses and sold 6 houses, house paid off. IRA in millions. Didn't live by the Jones, lived well, but went 30 years with 5000.00 cars, drove them 250,000. No boat, no 4 wheeler, no snowmoblies, no motorcycles. Now i'm retired and living the life!
Cheers to you sir, your story is one of the finest examples of what anyone can achieve here if they got the character to make it happen.
Hello sir! Under that unhappy and unlucky circumstances, how did you made that money in the first place? I am a 28 girl and I am trying to learn .
Thank you
Live within your means, folks.
Actually, live BELOW your means
Go beyond that, live below your means. So, you have some money to invest.
I’m a new dad, I moved from Tampa to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD and AVGO are strong buys this week.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai, energy and big pharm. stocks like Pfizer and JnJ, ASML, MLM and S&P 500 ETFs.
Certain ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.
I'm an art collector, this is not very new to me but has a nuance to it. Can you assist me? how do I find a fduciary
monica mary strigle, you'll be in luck at this time of year to have a conversation. lady is hot topic in downtown manhattan and you must not be and accredited investor. Just browse.
This guy possibly grew up poor and envying others as an adult. Then he went all out upgrading his lifestyle. The cool thing is he is looking for help. I wish him all the best.
That’s quite a classic common occurrence.
I don't like that people critize him so hard. He has some insight. Nobody's perfect.
The only inexcusable thing he did was not telling his wife upfront what his situation was and is. She's in it with no fault of her own. In not telling her, he's living a lie.😢
Good luck and keep Positive
That IRS debt needs to be first.
Indeed!! NEVER mess with the Gestapo!
It needs to be addressed first, definitely. Set up a plan with them. And then in the debt snowball it goes.
You can get on a payment plan with them. Credit cards first
Why IRS debt needs to be first ?
@@Manihsi The IRS can garnish your wages or take money out of your bank account. Owing them is totally different than having credit card debt because banks cannot forcibly take your money.
Travel trailers are a COMPLETE waste of money. Especially when you dont have any money
I used to camp a lot. I would see guys pull up with a new fifth wheel pulled by a $100K dually. Making payments on everything.
He'll probably be lucky if he breaks even selling it. They depreciate so much the second they leave the lot.
He probably uses the travel trailer for work. If he’s a contract lineman, they use travel trailers instead of hotels. I know, because I’m in the utility industry.
@@tyler75682Thanks for some firsthand info. Refreshing to hear instead of the normal 'I know everyone's life better than they do' crowd.
They could have rented one.
Dude, do not spend money you don't have!
Things come up and sometimes you need to.
@@miketheyunggod2534That's why you have an emergency fund.
@@miketheyunggod2534 He "needed" a travel trailer? Doubtful.
Dave wouldn’t be a billionaire if advice like that worked on anyone who needs it. 😂
@@miketheyunggod2534Not $470000 worth…
I need Papa Dave to take every call from this day forward
😂
Another episode of “What would Dave say” incoming?
Solution: sell what you can, and do the baby steps
Dave is awful now too. Kamel and Jade are the only good ones. They should start their own channel.
Amen 🙌🏿
"Rachel just nailed you really well." - Ken Coleman
!!!
Talk to your wife; list your debt; snowball payments; rice and beans, beans and rice
Franks and beans. 😂
Not even rice, just the beans at this point.
Dave is that you???!!
Unless there was a prenup, it's her debt too. What a douchebag.
No seasoning.
I feel for this guy, half a million in debt, two young kids, about to be divorced...
Yep. Honey, you know how you thought I was rich.......Shes gone.
You have traded time with your family so you can have stuff . Now you suffer the consequences until you pay off the stuff.
Debt consolidation doesn't fix the underlying problem. There are too many people who don't understand that.
Ya but… first things first.
Then he can do some therapy and figure out why he did what he did and doesn’t do it again.
Every man looks like a winner until you look at their debt. It’s make believe success.
...said some ignorant bitter idiot on the internet...
This dude needs a humility lesson. He is spending what he doesn’t have.
He has to share this with his wife. They need to be partners and have to tackle the debt together.
Bad news- if you want to get out of debt, you're going to have to keep working a lot...for a long time. The long term goal of working less is great...but it is a loooong term goal.
I only work four days a week at 40 hours. I'm very fortunate.
I’d much rather work 40 hours a week and live in a modest house with no travel trailer, then be like this guy and work 60-80 hours and never see my kids
Fortunately, he probably has a pension and doesn't have to come up with the money for that too
@@TonyCox1351 I agree. That's why it's a better idea to stay out of debt to begin with, but this guy is there and there is only one realistic way out.
you can try to beat the concept into these peoples heads that they just need to flat out quit spending money they don’t have , but the reality is they aren’t willing to live minimalist lifestyles. they’ve lived the filet mignon lifestyle too long , and won’t downgrade their lifestyle, especially if all their friends are living large.
Bought himself toys, secretly racked up huge debt, has a stay-at-home wife that he has been lying to and she has likely been spending like a drunken sailor. Great guy. If he ends up divorced I would not be surprised but either way the wife is screwed. She is going to have to get a job to help get the marriage out of debt.
He's young and works hard. Good luck.
Its her responsibility too... no way she did not know all the money being spent and stuff coming in was not possible on his salary
They need to start these conversations with " are you stupid?"
So most of these dudes pulling trailers and motorcycles with their big 100k trucks are mostly in debt🤔
Only 99% of them
I see a pattern where these blue collar workers fall into a position that makes them way more money than the average person with their education is used to, practically overnight. But then they get into debt way deeper than they would have ever if they had a job making the average in their field. They end up working overtime just to maintain a lifestyle they could never afford and never have anything to show for.
Get rid of the RV. If you’re working 60-80 hours a week you’re probably not getting to enjoy it anyway. Or rent it out on RVshare
Make a family budget based off the income at 40 hours a week. Everything else goes to BS 1 - BS3.
IRS needs to be paid FIRST. It's only 8,000 - could be easily done with his salary
How could she NOT KNOW, about his income & expenses, if she signs the joint returns?? Doesn't she realize that SHE is also responsible??
This is financial infidelity. They didn’t call him out on this. Wife is going to feel very deceived. She may not put up with this immaturity and deceit
They did, it's just that he said it at the end of the call. He needs to have his wife in the loop.
Three things. They didn’t focus here!
1) IRS PAID
2) SELL THE TRAVEL TRAILER AND MAYBE THE CARS
3) PAUSE THE IRA
this call suffered with not the exact right path here! Where is Dave…
Yeah they suck. Sorry to say but it’s true. Dave defines the problem in such a masterly way and gets to the heart. No bs.
Or Caleb. Or Romain.
I'm a half million in debt, my goal is to work a lot less because I have a couple kids... and my wife don't work🤣
Wife doesn't need to work if he is making 180k a year. Him alone is above the average household income by miles. He should be able to work less and spend more time with family, if he manages the debt in the coming years.
@@Joel_Nilsson he wants to work less so his income drops 50k? his expenses will increase with kids, not decrease
@@Joel_Nilsson he wants to work less so his income drops 50k? his expenses will increase with 2 kids, not decrease
@@Joel_Nilssonshe should work to help him out especially since she most likely overspent as well
@joelnilsson7129 you will not pay back a 500k debt without that salary. The interest alone would crush anyone not making far above average salary
Taxes has to be first
Yep, the IRS can REALLY MESS YOU UP, if you don't start cooperating in digging yourself out of this mess!!
I love your videos, but the best investment you can do right now is to invest in Forex trading, I'm saying this because since I started trading I've seen a difference...
It's true that you can imagine the benefit that people get from trading forex on a daily basis
Finding yourself a good broker is the same as finding a good wife, where you get less stress you get just enough with so much little effort at things
I work from 9 a.m. to 5 p.m. and I don't have time. Please can you help me with forex trading
Currently, an account portfolio manager manages my forex investments, while I invest in real estate with the profits.
How good is your account manager and how can I contact him?
I was in the same situation 2 years ago with my husband.. we had a "Come to Jesus" meeting after I wrote out all our debts and what we had left. We consolidated and got it all paid off but yes it took sacrifices and watching our budget with a fine tooth comb. Our debt was no where near that amount but it was a Wake Up call 100%. Anna In Ohio
Thank God my mind works the way it does. Keeping me safe and successful 🙏🏾
I feel for this guy deeply, he needs to have that hard conversation, I was in the same boat, in my mind protecting my wife from the worry and stress I was going through, all that does is create resentment and stack problems on top of problems, you will never start digging your self out unless you come clean and get transparent about those finances brother, talking out of experience here.
So you lied and deceived the person you're supposed to be in life together with ...got it
The “I’m so much better than this guy” comments here are special.
And regular. Sort of sickening. Overlooking the fact that he did make a call for help. It's a good thing they dont work a crisis line. The suicide rate would be even higher than it already is.
Linemen work hard and make good/great money but also seemingly are all AWFUL with money. They all have to have big diesel trucks and travel trailers and boats and motorcycles, etc.
The smart ones work 20-25 years and can get out of it.
It's the new mindset. My wifes grandfather was a linemen and he was frugal. He passed 8 years ago and his wife is set for life.
@@francismarion6400your post begs the question, was he able to enjoy his money?
@LEP021085 Hmm. He liked to fish and crab. They camped for a few decades. He liked to bird hunt and had a small collection of really nice shotguns. He never seemed stressed and always content. I think "content" is the word you were looking for. They were married 60+ years.
same goes for a buncha machine tool / diemakers, many of construction trades, &, strangely as Dave endlessly points out ... physicians. :-)
They all have lots of "toys", same with HVAC guys. New Boats, Harleys, Jet Skis, RV's , Tricked out trucks.....
This guy doesn’t know how to grow wealth, he only knows how to spend beyond his means.
Which is why no woman should be puting all her financial cards in one mans basket. Th fact that she knows nothing of the financial situation that directly effects her, is the number one reason women need education and independence before and after marriage.
Seems like she is willingly not involved. That’s a her problem for not asking questions.
@@BlueDauntlessyeah well like most men he probably minimised / lied or reassured her all is fine....until the crap hits the fan
Living alone in my 1st apartment, I still managed to save and invest. What’s wrong with people?
Wife needs to get a job to have an emergency fund. I don't understand women that don't work in this day and age. I always worked to become debt free and for the kids to have college funds and drove toyotas for 25 years. 😕
Debt free life is simply Amazing!! Never lose sight of your financial freedom goals!!!
I make less than 20k a year. A year ago, I broke my foot. I had 26k in medical for it o. Credit cards. I now owe 7500 on one card and payed the other off.
How?
This makes no sense. How can you make so little? How did you pay it off almost?
@dustyrhodes2717 I am 62. I have no debt other than my CC. I work part-time. I pay at least double or triple the recommended payment. I have a budget of $100 for groceries. I have chickens, so I have eggs for 2 meals. I own my house. I own my truck. I have my cell phone and my insurance for my truck to pay every month. That all is a total of $300 in monthly expenses. The rest goes to my credit card (approximately $12-1300 a month). I am living it. It makes sense and it works. I have an 800 credit score and I am single. If you can't see it makes sense now, you never will.
@dustyrhodes2717 I buy meat only. I drink water and coffee. I do not buy chips, soda, processed foods, junk foods (which is pretty much everything in the store now days) or alcohol. At 61 when I broke my foot, it healed super fast (walking on it after 5 weeks) because of my eating habits for my age.
@@Shortballa11 read the comments under Dusty Rhodes. I explained it.
Oooooo a lineman
You know he’s got to get that giant dually truck to impress his buddies
And the four wheeler
And the bass boat
And the travel trailer
And the hunting lease
I live in Wyoming and young oil workers are guilty of the same thing. Then they lose their jobs and you find the truck on the used car lot and the video game system in the pawn shop.
@@rayhill5767 my son is a fighter and every guy at his station drive 60,000 dollar trucks and give him hell about his cash out the door Mitsubishi mirage. It gets 40 miles to the Gallon. He just laughs when they complain about being broke. He is frugal and has lots of money in the stock market at 22 years old.
@@extremecarpetcleaning-wvwi86 Good for him!
I was thinking exactly that. Good call. Accurate.
@@extremecarpetcleaning-wvwi86 he should do financial consulting on the side. Sounds like a good head on his shoulders!
You know this guy wanted to talk to DAVE. Not these two 😂
Why is this not considered "financial infidelity?" If the wife had hid this debt from her husband they'd be all over her!
You're delusional. They only bash men on the ramsey network. Every once in a while, they'll have a call with a lady and say she maybe could have done things differently.
@@Chet_24 No. I've heard several men call in about their wives hiding debt from them. Then the wife gets criticized for "financial infidelity."
She had a choice before she married him.
@@GrandMa-hm5mbWhy do you care? It sounds like you didn’t get what you want and you’re whining about it instead of doing what grown-ups do, which is just watch something else if you think these two are being unfair.
@@francismarion6400omg seriously there's always the miso on here that Blames the wife for everything 🙄🤦
Too many people hating on this guy. He did make the move to call in. I thought Daves followers our supposed to be Christian.
Good luck to this guy. There are millions of people in the same boat.
Why do people categorize being Christian into a group of people who have no brain & no ability to comes to a reasonable conclusion?
Keeping this from your spouse is just thoughtless and cruel. If he dies, she will be left with a huge, very unexpected mess, that he created. This is not showing love
She will leave him, and he knows that!
If you don’t have the cash, don’t buy it.
He cant stop the 60-80 hours a week until he gets a hold on this debt. Sell that travel trailer and maybe the car too.
I knew this guy was a lineman before he said it. This is common in our line of work
This guy is lucky that Dave wasn't on when he called
For this guy, selling the camper needs to be the first move. Why? Two reasons:
1. Camping is great, but it is never cheap.
2. Getting rid of the toy will send home a lasting reminder that money must be more wisely spent.
IRS first
He has no room in his budget for toys.
Kenneth is waiting on his Subway Tuna Footlong Sub
😂
180k in Ohio?? I’m a sr engineer and don’t make that much. This is pathetic to be in that situation
Both he and his wife should have had a budget and know where all their money is going.
This guy is a madman....he owes everybody money except me and he has the nerve to say that he wants to work 50hrs a week.....this guy needs to work so much his family would need to own a ladder to see him during the week 😂😂 he shouldnt have a day off until 2030
They didn’t seems to hear that he owes the IRS!
That's the most alarming one
Wife needs to find work to get this cleaned up also sell all the stuff you do not need it proves both spouses need to be on top of bills I know she sees all this luxury items in the house 🏠
I can attest to the linemen feeling the pressure to be in debt: it’s a work hard, play hard mind set.
If he has $120,000 in debt and makes $180,000 a year, I feel like Dave would have said for them to live on 100,000 and be done with it in two years. Yes, marriage counseling and stuff is important but let us not forget the math stuff. Some people need to hear that it is mathematically possible in simple terms, then address the behavior
We have a similar situation with the debt being too high and making all the payments is tough. Our lightbulb moment was when I became pregnant with our third child I really had a want to be more part time but with our minimum payments it’s just not possible because of lifestyle creep. We are fully aware of the severity of the situation and are working hard to fix it so that within a year of our baby being born I am able to stay home an extra day per week and care for our family the way I wish I could!! ❤ stay strong and reduce the debt to have the family life you wish you had
Dude is a mess. No common sense to speak of unfortunately.
His appetite is bigger than his wallet!
Guy is making $180K working 80 hours a week. Assuming time and a half for anything over 40 hours his job is actually paying a base of 70K ish for 40 hours. The massive pay number comes from overtime which doesn't seem sustainable. He either needs to keep working 80 hours a week or downsize his lifestyle massively.
Ugh I am staying single indefinitely
Single life=happy life
The hardest struggle in a man's life. Wife to husband: You work to much and are never home for the kids and I. Husband changes and works less down to 36-40 hrs/wk. Wife to husband & friends: He doesn't work hard enough to provide for our family so I can be a SAHM, go on lavish vacations, and afford a McMansion.
Add in most women are never happy, DIVORCE is coming.
pay the IRS one ASAP
I'm guessing normal income people never watch the dave Ramsey show because it seems every call talking i make 200,000 a year and can't make it. It just blows my mind. Ive raised 3 kids on 60,000 a year. No 5,000 sq. Ft. Houses, bmw's or awesome vacations but we paid bills and had food on the table. You have to live within your income. It's tough watching people who make good money go broke because they can't manage money. I bet they go to Disneyland 3 time a year, 2 new cars and a huge house... of course your broke.
Good Morning 🌞
I hope i'm wrong, but it doesn't seem like he's "had it" yet. He sounds more hopeless than frustrated, which could explain why he didn't keep up with the debt snowball in the past. No gazelle intensity.
I hope he finds *hope* through setting some goals for himself and his family.
He’s living the borrowed American Dream 🇺🇸🇺🇸🇺🇸
Surely the tax man should be no1
Hear me out, Michael. Bankruptcy. Talk to a lawyer.
Why? If he can pull 180k/ year and live off 60k, that leaves 120k to pay off close to 500k. That is 4 years of living like a normal American. Bankruptcy will ruin him more than getting a budget and sticking with it.
Edit: of course he has taxes but the math still works. He can live below his means and uses a good portion to pay Debt
@anonyghost7422 What is the downside to BK? Ch 13 is a tool that can allow him to keep his assets and stop all of the interest on his debts. It's a debt restructuring system. He will be held to a payment for a set number of years and then be done. Even Dave used BK.
Trading one set of problems for another.
By the way Dave never used BK, that's just a business origin story he made up.
@amireallythatgrumpy6508 What problems does BK cause? It has caused absolutely zero problems for me. I filed in 2022. I went to marriage counseling and we used the Every Dollar Premium now. Doing better than ever.
@@amireallythatgrumpy6508 What problems are caused by BK? I filed in 2022 and have had zero problems. Doing better than ever.
He's 27, working 80 hour weeks, and making $180K per year. That sounds a lot like a young/fit man's job. One injury or illness, and that's all gone. Sure, I've met guys in their 50s who were still able to do it, but they are rare. Save up for a rainy day, don't spend like you'll be young forever.
Don't do that to your spouse, you can't be that selfish.
Beans and rice will clear him out of non mortgage debt in less than two years on 180k, what's the problem?
how people can live like that, i just dont understand. im 32 have 0 debt, but only around 30k in savings and i feel like i failed in life already. i guess i have to applaud people not just ending themselves in situations like these. consumer dept... idiots...
Hello, I'm calling from the basement of Ramsey Studios
I see it everyday at work. New guys buying expensive toys and cars.
I try to give them advice; but most of them don’t listen.
Most of us make 6 figures income and a lot of them are living pay check to pay check.
Dude everybody except me 😂😢
The very first step is to fix the leak. He has to stop the bad spending habit before attempting to pay off debt. If not, all the work will be in vain.
Stories like this just show that you can be poor at an income bracket. He makes almost twice as much as my wife and I combined and I wouldn't trade places with his current situation at all.
Another example of people who know how to make a lot of money, but have zero clues on how to spend it.
If the wife thinks they are rilling in cash then can't blame her. He needs to explain to her hey we are flat broke. It would lower his stress tons because then they are fighting this together.
And then… their philosophy is to ALWAYS COMBINE FINANCES WITH SPOUSE!! This is exactly why you should NEVER combine all your finances with your partner.
I keep my wife in the dark about my financial situation too. The less she knows about how much money I have in the bank the better off I am. 😂
I really hope that works for you in the long term
good luck with that in the long term lmfao
I hope he is, but it doesn’t sound like he is ready to make a huge change in his financial behavior.
Uh........the conversation was a little short
Yea, it is a partnership, she needs to be with you and you guys will be fine!
Sell everything except the house.
The kids too! 😅
@@ricana1160 lol! Well…..
Including himself
Yes, he is incredibly wrong for keeping that big of a mess from his wife but, at the same time, I never get it when one spouse decides to completely delegate finances to the other. Aren't you just a bit curious of what's going on? Even the best intentioned and smartest people still make mistakes, so aren't two pairs of eyes better than one. I'd rather be a co-pilot instead of just sitting in the back.
He's just $30,000 shy away from being half a million $$$$$ in debt. 😢😢😢
Goodness, and here i am trying to get rid of the $500 i owe my mother and it's really bugging me coz i need to pay it off and never borrow cash from her again. I hope he pays thia off coz this is bad.
I loved that he said he was working the Baby Steps, then fell off, now just wants to know where to start. 🤦 Back at step 1 bro 😆
This is a classic example of someone who has a jump in income, and then thinks this means spending way more than the increase in income. When income goes up, people think they need to spend this money, and this spending often leads to financial ruin.
When you have an increase in income, do not view this as an opportunity to increase lifestyle, view it as an opportunity to increase savings so you can enjoy life as opposed to trying to enjoy things.
What he wants is a magic wand. What he needs is self discipline. Y'all, if you are in a financial co-dependent relationship, you must set financial goals and objectives and have awareness of your financial situation. Both of you must actively participate.
Stop living beyond your means! Credit is not your friend.