Glad this guy called..21yrs old, not too many of them will call and be transparent. hope he listens and sets goals for himself financially and becomes a firefighter.
This is why you ALWAYS have an emergency fund. No wage job is guaranteed. I'm in a similar situation. Government contract making $190k at age 27, which is nearly impossible for engineers my age. I should be making half that. People always ask "Why don't you buy a house? You easily qualify for one." I'm not buying a house until I can save enough of a down payment afford it on a $90k salary. Houses in the area only appreciate on average $20k-$25k/yr and I save about $75k/yr excluding my 401K contributions. I'd rather take the $40k sunk cost than risk buying a house, the housing bubble burst and I'm 30% underwater on my house, and I lose my job while I'm $600k in debt.
No wage job is guaranteed. ?????? Legally Mandated Position requiring 3 years in the seat, paying half of private industry. The company has to headhunt to fill.
My bf and I feel similar. I make 130k he makes about 175k. People hear the salaries and think that we need to buy a house ASAP. We both had paid off cars & no student loans or consumer debt. We’re focused on saving and live in a nice yet modest apt!
I had a $760 car payment at 20 (last year I’m 21 now) $1,000 total monthly payment including insurance. I woke up one day and sold it even tho I was upside down $10,000. I realized that if I got fired from my job I would’ve been fucked. Fast forward 5 months…. I got fired.
@genxx2724 If they want to censor him, they will, no need to act like the poliece, freedom of speech. Not like little kids watch and read this kind of stuff anyway.
Great decision. You must be so much less stressed then if you still had the car. You’re setting yourself up for a successful life with your knowledge of debt, money management, and most importantly SELF RESTRAINT and maturity. Keep it up!
When this guy said his age and he said he worked oil fields, I knew this debt was tied to cars. This is too common. Visit Midland, Texas when the price of oil is high and you will see big customized trucks rolling around everywhere. Then visit again when oil is cheap and you will see those same trucks sitting on dealer lots for cheap. Happens every cycle.
Hey now lol not all of us are wild😂. I have a 2012 Cummins paid off, wife’s 2014 high lander paid off, and 2017 Versa commuter car paid off. Luckily my wife and I do right with our oil field checks
He was an oiler on the road working on heavy equipment. This guy is most hireable and should be seeking out new work as the only focus while selling three cars (one of the four is already up for sale) The fireman program isn't available until September so that focus can wait.
Brit here 🇬🇧. I can’t believe how much personal debt Americans seem to have. It’s absolutely crazy to hear these huge debt figures from relatively young people. Is the entire US economy propped up by people just continuing to spend money they don’t have? 😱
Many Americans have medical debt that you don't have in your country. Anyone who just buys and buys "stuff" is a fool for getting into debt because of it. Other American debt is having a mortgage which can be good debt.
I mean largely yea... the US is the biggest consumer economy in the world. By definition it requires a lot of consumption lol. Its not everyone. Hard to say a percentage since naturally my circle is people without much debt, but I'd guess 25-50% of Americans live like that.
Take this as a blessing in disguise. Sometimes we need to go through something stressful to learn to make better financial decisions. You dropped out of school, bought all these cars, and did not save money. Really bad decisions. Take it as a learning experience and make better decisions next time you get the opportunity and pave a better road for you in the future.
Very great point. My husband and I made bad financial decisions. Car debt, mortgage, personal loans, credit card debt, and we had an infant to take care of. My husband got sick for several months, and we thankfully got help from his family. We had some of his medical debt paid for through the VA, and when he got better, he worked towards increasing his income by finding better and better employers. He’s amazing, and our marriage has gotten much better bc of this much needed lesson. ❤
I love this response. Im 26 and I got fired and it forced me to look at my financial situation and it’s teaching me to be more responsible with my finances and to clear up my debt and build wealth. Now I have a better understanding and Im ready to apply what Ive learn in my next career
it is because "car guys" think if you are passionate about cars, then you should do car guy things and modify it regardless how wasteful it is. if you be smart with your money and not spending anything, they will just say you dont love cars enough or you dont have the passions. as another guy who also loves cars, I was told that right in my face so those "car guys" can justify themselves
My first car was a 2004 BMW with 140,000 miles. I joined the army and got a 20k signing bonus. Only got 14k after tax. I used 4 of that to pay off the car then took another 4k to modify it. Then only 5-10k miles later the engine blew up. Sold it at a huge loss. Took the rest that I had and used it as a down payment on a reliable Toyota. Cars are cool but that car put a bad taste in my mouth and I won’t ever waste that much money on a car again. My new hobby is motorcycles. So much cheaper and more fun. Bought a 2000 Honda Shadow for $1200 and between getting it running and mods it only cost me $800. So I’m only in 2k total. I love that bike it never gives me problems and so much fun to ride.
He should have saved some of that "crap ton of money" he was making. I agree that he needs to sell those vehicles and use that money to stay afloat, until he gets another job. He also needs to negotiate paying his debtors. I guess those are the mistakes you make when you are 21 years old. I hope this is a learning experience.
@@MikeNapoli1989 Yeah I learned working through high school how you can be let go at anytime for any reason. I realized how it would have been if I wasn’t living with my parents and saved/invested as much as I could. At his age I was starting my career and still lived as though I could lose my job the next day until I reach the point of earning my “go to heck” card years later.
Most people don’t use common sense wasting money is habit of most Americans they never save for emergencies only trying to look good to others someone like me is laughing at them because I am debt free with a 6 to 12 months emergency fund @Villafor2024
@@avfc2025 no but I have the freedom of speech to call bs when someone puts their business on a public forum for the world to hear. You can’t proclaim something and the actions you present to the world says otherwise. I’m guilty as well. Stop being sensitive.
Yeah “money isn’t important” is supposed to mean “material things aren’t important”. If you use all your money to buy flashy cars and material things then you kind of missed the point of the phrase. But I did dumber shit at 21
I wish this guy the best. He's a kid still. He learned how to work hard from his job, which is more than a lot of people his age. He will be an excellent firefighter. ✝️🙏
It’s very common to make stupid mistakes when you make good money at a young age, and it’s probably better to get those mistakes out of the way than to wait till you’re 50 with more at stake.
Some need tough love. The cat that insists on touching the hot stove. The high school kid who insists on drinking alcohol to point of alcohol poisoning. The character in monsters university. “I’m gonna touch it.”
Sell 3 of the 4 cars. Get another high paying oil job or any job. Grind until it's paid off. When you're done, give the family helping you some money and then save save save and grind doing as high paying a job you can get for at least 6 months. Then you can think about passion jobs. He can work decent pay construction or maybe a grocery store. Overnight stocking jobs and warehouse work are options for a guy in shape-full time overnight stocking and part time somewhere else during the evenings/day. Get your GED. If he misses the deadline for this FF program, he can go for another one later. Look in other areas less than a day's drive from family. He's in Ft Worth/Dallas, there's Houston and San Antonio nearby.
12k into a car you haven’t even paid off with 26,000 still owed is crazy. Plus no one is going to trust buying a moded car from a young guy as they will assume you beat up on it
Colin: "Doc, I keep getting this excruciating pain in my left hand" Doctor: "You ever try moving your hand out of the way, before you swing the hammer"?
As a car enthusiast it does hurt to sell your car you put all your money and vision into it. But I had to sell it due to financial stress, now I feel I can breathe. Yes I do miss the car but I now help my friends detail or modify their cars. Almost makes me feel like I have a project car 😅
I'll never understand why people waste so much money on stupid things like cars. All you need is something with four wheels to get around. It's so stupid!! I've been laid off a number of times. Always got another job. We've made less, but have a paid-off house and buy cars with cash.
He's lucky that he's thinking about getting out of debt while still young. I hope he teaches others to become debt free. The world needs desperately to know this.
I'm so fortunate that i live in the midwest and have a modest brick ranch home with a 20 year mortgage at 2.87% with a monthly payment of $718.39 I am humbled
The concept of modding a sportscar while still paying for it is alien to me. I only added hitch and DIY repairs on mine after paying my car off. and I'm not a car guy at all. lol
When people dropout of high school, I roll my eyes... you dropped out of the most required thing a job requires 😂😂😂.. why did no one in your family tell you this was stupid!!!
Gee , I'd of been happy to drop out of useless high school early and gone into construction work. Tell me what you really learn in high-school after 9th or 10 grade???? I learned how to work and run farm equipment on a dairy farm. That was more learning than any high school could teach me.
My husband wanted a kit car, where you build your own Cobra. We saved up the money, it took over 5 years and he got it! We have only ever borrowed money for mortgages
Sell everything except the sierra. You need that to get to work. Get another job quickly. Mechanics are in demand! Hit the gym so you can excel at firefighter school in sept. Hot rods are a colossal waste of money.
I work in the car business. Young salesman with $700+ car payments left and right. I try to tell them what a liability they are, but they dont want to hear it. Meanwhile, I own my car free and clear 😊
I have a cousin who worked for Chevron and has been with them since graduating out of High School. Now he is retired from Chevron after 45 years. He has stock in the company, and last year when gas was up. He made a killing in the Stock Market. He has been living in the same house since he was married back in 1965. He saves money like crazy. He still has his 64 GTO, and drives an SUV. When he retired had over $300,000 in stock, now it tripled since last year. He started as a mechanic and left working in the executive offices of the Company. Lucky!
Firefighters is basically a unionized position. Even if it isn't union, it is union. The sports car is worth more in parts. Very hard to get into unless you know somebody. This guy shouldn't wait on a dream but work his butt off until he is above water.
He has basically short term goals and long terms goals. Short term would be to get ANY job and keep cash flow going. Take any job you can get hands on. Sell the cars but keep one that is reliable. This is America you need transportation. Layoffs can happen to anyone, don’t panic but definitely learn from it. Cars can be a ridiculous hobby. I wish him well.
Just get after it, sell the two paid off cars should be enough to get out from under the sports car. Go get a job as a mechanic somewhere TODAY! Work on you GED and knock that out. You should be debt free with money in the bank by the end of the year. If the firefighter thing doesnt work out keep banjing money, then find a volunteer dept...get some skills and try again next year.
Sell it all! The modifications lower the resale value to dealers. They like stock parts their mechanics were trained to work on. Definitely should go private sell. Clear it all out and chalk it up to a lesson learned.
Modding cars is an expensive, but fun hobby. There's nothing more exhilarating than making an old car fast. I do it with cash only, and investing comes first in the budget. Whatever is left over is the play money.
Let's be real: He aint getting any of that money for those cars that he modded. My friend works in the car sales industry. It costs them money to bring it back to stock. Nobody cares about the subwoofer system in your Honda Civic, especially when most people use that car to get groceries and now, you have no space for it.
take it from someone who doesnt have a college degree and still earns great money, stay in the heavy industrial side of career path (dont go be a firefighter, you'll be poor). you'll earn a whole lot more than the vast majority of degree holders, and you wont have to borrow $100k in student loans to get it. the dude just needs to grow up and manage money better. a degree wont solve what his issue are. get your GED and then move continue on into the industrial side of working. im telling you the amount of money you can earn after 10years experience in some of these industrial jobs is bonkers.
Money is not worth it to him? How else do you pay debt and bills? Is this because you did a bunch of stuff to it? Yes Jade. He just said because he modded it. KBB does not take mods into account. So he can get more then the KBB. How old it it that he is paying $270 a month?
He made a boat load of money and NOTHING to show for it other than a HIGE debt ??!! Doesn’t his parents teach him how to budget and save for RAINY DAYS and now it’s a BIG HURRICANE and STORM ⛈️ !!!!!
Dude sounds like a Fast and Furious enthusiast. I suppose I was WHEN I was in my early 20s. Thankfully I stopped caring about the car I drive as I got older. I mean roads and traffic are horrible, gas is high. It's just not fun to drive anymore. I'd rather go for a hike up a mountain, peace and quiet! Now I'm not trying to be an A$$ but you're 21, very, very young. Getting laid off with $42K in debt is a small problem. If you were 51, in debt and laid off much bigger problem.
At least this guy has the excuse of being young. It never ceases to amaze me when I see a vehicle that has been heavily modified in one way or another, with thousands upon thousands spent, and it is worth no more or even LESS than if they had done nothing.
Cars are an incredibly expensive passion. If you're gonna go for it, go for it. But make a game plan financially or else that hobby will eat you alive.
21 and was making $100k+ as an oiler.... why are more people not doing that? Like do it for a few years after school and then go work at Starbucks and skip the part where you go to college for a worthless degree
Because people are lazy. I'm retired and worked construction my whole career. I ran a lot of heavy equipment but still in my 60s get out of the machine and work on the ground.
You’re saying money isn’t an idol for you, but you made cars your idol. That’s not more noble than making money your idol. I feel bad for this guy who had no parents in his corner, it seems. No one to guide him or help him to make good decisions or be financially literate. I wish him the best.
i dont think the sports car would do him much good to sell , unless he finds someone who wants all those mods and is willing to pay more for it done up like that . the hit otherwise would be too big and he it would be better than a beater car for him
Money isn't everything until you don't have any.
Never modify a car that isn’t yours, and if you owe money on it, it’s not yours yet.
Learning this lesson now
That’s wise…
Well said
I’d take it a step further - never modify a car that you can’t afford to light on fire in your driveway
@@BradDiBenedetto idk about that idea
This is exactly why I don't feel jealous when I pull up to a fancy car in traffic. There's a 98% chance it's some broke clown behind the wheel.
Agree sometimes they owe more than the car is worth
Lol I'm that 🤡
They're financing the car and have $800-1000 car notes
I make 10k a year and I’m paying off a 100k Mercedes:) and I’m loving it
@@kaedenwilder4549ok
Glad this guy called..21yrs old, not too many of them will call and be transparent. hope he listens and sets goals for himself financially and becomes a firefighter.
This is why you ALWAYS have an emergency fund. No wage job is guaranteed. I'm in a similar situation. Government contract making $190k at age 27, which is nearly impossible for engineers my age. I should be making half that. People always ask "Why don't you buy a house? You easily qualify for one." I'm not buying a house until I can save enough of a down payment afford it on a $90k salary. Houses in the area only appreciate on average $20k-$25k/yr and I save about $75k/yr excluding my 401K contributions. I'd rather take the $40k sunk cost than risk buying a house, the housing bubble burst and I'm 30% underwater on my house, and I lose my job while I'm $600k in debt.
No wage job is guaranteed. ??????
Legally Mandated Position requiring 3 years in the seat,
paying half of private industry.
The company has to headhunt to fill.
Shit im trying to get like you, my guy 😂
Bro you on the right track. I did the same thing you did. Paid my mortgage off this year.
tf kind of engineer are you??
My bf and I feel similar. I make 130k he makes about 175k. People hear the salaries and think that we need to buy a house ASAP. We both had paid off cars & no student loans or consumer debt. We’re focused on saving and live in a nice yet modest apt!
This is why you shouldn't spend as if you'll always have your job. Who knows what could happen?
Exactly! always save something even if it’s just $100 out of each check. Always put away something.
I hope he absorbs that lesson.
I had a $760 car payment at 20 (last year I’m 21 now) $1,000 total monthly payment including insurance. I woke up one day and sold it even tho I was upside down $10,000. I realized that if I got fired from my job I would’ve been fucked. Fast forward 5 months…. I got fired.
Nice language. On Ramsey of all places. Please grow up in the regard, too.
@genxx2724 If they want to censor him, they will, no need to act like the poliece, freedom of speech. Not like little kids watch and read this kind of stuff anyway.
Great decision. You must be so much less stressed then if you still had the car. You’re setting yourself up for a successful life with your knowledge of debt, money management, and most importantly SELF RESTRAINT and maturity. Keep it up!
@@user-pj3on8qm6e Personal character and good manners is the issue I’m pointing out to a young person. Obviously this was lost on you.
@@user-pj3on8qm6e Eh, No need to censor him for censoring.
Collin is so fortunate he has a wonderful aunt and uncle who are trying to guide him in life.
When this guy said his age and he said he worked oil fields, I knew this debt was tied to cars. This is too common. Visit Midland, Texas when the price of oil is high and you will see big customized trucks rolling around everywhere. Then visit again when oil is cheap and you will see those same trucks sitting on dealer lots for cheap. Happens every cycle.
Hey now lol not all of us are wild😂. I have a 2012 Cummins paid off, wife’s 2014 high lander paid off, and 2017 Versa commuter car paid off. Luckily my wife and I do right with our oil field checks
He didn't work in the oilfield he was an oiler. Meaning a lube guy greasing heavy equipment
Sounds like a fine young man and the fact the he called for advice ..most people don't even realise that their lives in the mess
@@oraza66A fine young man that dropped out of HS lol
V k r , ,v k k v v
He was an oiler on the road working on heavy equipment. This guy is most hireable and should be seeking out new work as the only focus while selling three cars (one of the four is already up for sale) The fireman program isn't available until September so that focus can wait.
He's realizing the errors of his ways at a young age. He'll bounce back from this.
Brit here 🇬🇧. I can’t believe how much personal debt Americans seem to have. It’s absolutely crazy to hear these huge debt figures from relatively young people. Is the entire US economy propped up by people just continuing to spend money they don’t have? 😱
If they follow our government it is.
Here both party ,,,,republicans and democrats,,,, all parties love spending money,,,, @@terrybumpass4799
Many Americans have medical debt that you don't have in your country. Anyone who just buys and buys "stuff" is a fool for getting into debt because of it. Other American debt is having a mortgage which can be good debt.
Yes! We are brainwashed, we never got taught how to properly manage money
I mean largely yea... the US is the biggest consumer economy in the world. By definition it requires a lot of consumption lol. Its not everyone. Hard to say a percentage since naturally my circle is people without much debt, but I'd guess 25-50% of Americans live like that.
1400 for just cars . That’s rent right there
Where? Not here in Southern California
Single room 2k
@sendit3251 SoCo is literally one of the highest costs of living areas in the country. You can certainly get an apartment for 1400 in other areas.
California is a Sh-hole, why are you still living there??
Luckily he's only 21. Plenty time to get back on track and do it right.
Yeah but don’t think he learned his lesson. He’ll just go back into this mess unless he changes his attitude about cars !!
Can’t imagine making 130K and then moving home cause I lost that job. Hope this kid learns from his mistakes
Take this as a blessing in disguise. Sometimes we need to go through something stressful to learn to make better financial decisions. You dropped out of school, bought all these cars, and did not save money. Really bad decisions. Take it as a learning experience and make better decisions next time you get the opportunity and pave a better road for you in the future.
Exactly!
Very great point. My husband and I made bad financial decisions. Car debt, mortgage, personal loans, credit card debt, and we had an infant to take care of. My husband got sick for several months, and we thankfully got help from his family. We had some of his medical debt paid for through the VA, and when he got better, he worked towards increasing his income by finding better and better employers. He’s amazing, and our marriage has gotten much better bc of this much needed lesson. ❤
Na man you’re good don’t listen to these condescending pricks
I love this response. Im 26 and I got fired and it forced me to look at my financial situation and it’s teaching me to be more responsible with my finances and to clear up my debt and build wealth. Now I have a better understanding and Im ready to apply what Ive learn in my next career
He seems really honest. Good luck to him and his future.
As a guy who LOVES cars, I just can't justify spending so much on cars. I'm happy with my 09 Accord 🙏
it is because "car guys" think if you are passionate about cars, then you should do car guy things and modify it regardless how wasteful it is. if you be smart with your money and not spending anything, they will just say you dont love cars enough or you dont have the passions. as another guy who also loves cars, I was told that right in my face so those "car guys" can justify themselves
Little kids car
imagine calling in about debt that can be unloaded in a week
He's 21 yrs old.
@@amanda1500*and stupid.
My first car was a 2004 BMW with 140,000 miles. I joined the army and got a 20k signing bonus. Only got 14k after tax. I used 4 of that to pay off the car then took another 4k to modify it. Then only 5-10k miles later the engine blew up. Sold it at a huge loss. Took the rest that I had and used it as a down payment on a reliable Toyota. Cars are cool but that car put a bad taste in my mouth and I won’t ever waste that much money on a car again. My new hobby is motorcycles. So much cheaper and more fun. Bought a 2000 Honda Shadow for $1200 and between getting it running and mods it only cost me $800. So I’m only in 2k total. I love that bike it never gives me problems and so much fun to ride.
He should have saved some of that "crap ton of money" he was making. I agree that he needs to sell those vehicles and use that money to stay afloat, until he gets another job. He also needs to negotiate paying his debtors. I guess those are the mistakes you make when you are 21 years old. I hope this is a learning experience.
He is young and people do dumb stuff. The key is learning and doing better. At least he is calling and trying to do better.
It amazes me that some people think they won’t be let go.
Exactly. I was twenty one once too and didn't make the best decisions either. Hoping he gets his finances together.
@@MikeNapoli1989 "It amazes me".... Well when you've had some life experience, and you know something about psychology, it won't amaze you.
@@MikeNapoli1989
Yeah I learned working through high school how you can be let go at anytime for any reason. I realized how it would have been if I wasn’t living with my parents and saved/invested as much as I could.
At his age I was starting my career and still lived as though I could lose my job the next day until I reach the point of earning my “go to heck” card years later.
He should file an unemployment claim right away. He should see what services the unemployment office in his state or province provides.
So you want me to pay for his bills because he’s shit with money?
@@JooMan_you understand that he and his employer paid taxes that go to unemployment fund while he was working as well, right?
@@StaciaBielka Yes, but taxpayers paid for all of Biden's handouts.
@@JooMan_ Even if a person is frugal and saves every dime, they should still file for unemployment.
@@JooMan_do you know how unemployment works lol
In the car community the joke is “the bank wouldn’t like it if they knew you were modifying their car” hahah
Pretty typical young adult things.
Lesson learned and love on from it and do not make the same stupid mistakes again.
Keep going forward my man.
Money wasn’t important but it was important enough to use to spend on cars.
You must be so
Rich to be so judgmental
Most people don’t use common sense wasting money is habit of most Americans they never save for emergencies only trying to look good to others someone like me is laughing at them because I am debt free with a 6 to 12 months emergency fund @Villafor2024
@@avfc2025 no but I have the freedom of speech to call bs when someone puts their business on a public forum for the world to hear. You can’t proclaim something and the actions you present to the world says otherwise. I’m guilty as well. Stop being sensitive.
Right!!
Yeah “money isn’t important” is supposed to mean “material things aren’t important”. If you use all your money to buy flashy cars and material things then you kind of missed the point of the phrase. But I did dumber shit at 21
Unfortunately he made his cars his idol.
But he's so religious 🤦♂️
I wish this guy the best. He's a kid still. He learned how to work hard from his job, which is more than a lot of people his age. He will be an excellent firefighter. ✝️🙏
We never finance cars. We buy them right off cash to save money. 🎉
Bless his aunt and uncle
He's lucky.
It’s very common to make stupid mistakes when you make good money at a young age, and it’s probably better to get those mistakes out of the way than to wait till you’re 50 with more at stake.
The last word of this video title got cut off on my phone and I was extremely confused for a minute.
I started training my kids as tweens to see cars as bad investments bc of this kind of call. Glad he called!
Get your kids into calculators and computers. They're a whole lot cooler than cars and much cheaper.
@@Primitive_Code
My daughter dropped out of HS, for a $23/hr job,
She drives an Infiniti G37X AWD Coupe,
She turns heads, and so does the car.
@@aolvaar8792Are you actually bragging about the fact that your daughter is a HS dropout? $23 an hour is not exactly a great wage either 😬
@@aolvaar8792 Is the car paid off?
I hope he realizes that his hobbies and his potential line of work don't line up.
🤦♀️ 90-130k income
40k debt lingering
No savings???
This generation is going down hill‼️
This generation the last generation and the next generations all have the same mindset ether you are wise with money or you are not
I feel like these two counselors are more supportive whereas Dave is like, cold hard truth. No remorse.
You rather hear sugarcoated truth or the brutal honesty?
@@mtorres3097 me personally? Sugar-coated truth. If I don't get the message then cold hard truth.
Some need tough love. The cat that insists on touching the hot stove. The high school kid who insists on drinking alcohol to point of alcohol poisoning. The character in monsters university. “I’m gonna touch it.”
Sell 3 of the 4 cars. Get another high paying oil job or any job. Grind until it's paid off. When you're done, give the family helping you some money and then save save save and grind doing as high paying a job you can get for at least 6 months. Then you can think about passion jobs. He can work decent pay construction or maybe a grocery store. Overnight stocking jobs and warehouse work are options for a guy in shape-full time overnight stocking and part time somewhere else during the evenings/day. Get your GED. If he misses the deadline for this FF program, he can go for another one later. Look in other areas less than a day's drive from family. He's in Ft Worth/Dallas, there's Houston and San Antonio nearby.
12k into a car you haven’t even paid off with 26,000 still owed is crazy. Plus no one is going to trust buying a moded car from a young guy as they will assume you beat up on it
private sale doesn't mean he won't get lowballed like a dealer would
Colin: "Doc, I keep getting this excruciating pain in my left hand"
Doctor: "You ever try moving your hand out of the way, before you swing the hammer"?
As a car enthusiast it does hurt to sell your car you put all your money and vision into it. But I had to sell it due to financial stress, now I feel I can breathe. Yes I do miss the car but I now help my friends detail or modify their cars. Almost makes me feel like I have a project car 😅
I'll never understand why people waste so much money on stupid things like cars. All you need is something with four wheels to get around. It's so stupid!!
I've been laid off a number of times. Always got another job. We've made less, but have a paid-off house and buy cars with cash.
Agree even people that want more than 1 car shouldn’t buy more than 2 the caller was a egotistical fool
@@joimumu he's 21. He's trying to address the situation.
Very simple, sell your junk and find a job asap. Seems like you don’t mind hard work and it’s always valuable. God bless
He's lucky that he's thinking about getting out of debt while still young. I hope he teaches others to become debt free. The world needs desperately to know this.
I'm so fortunate that i live in the midwest and have a modest brick ranch home with a 20 year mortgage at 2.87% with a monthly payment of $718.39 I am humbled
The concept of modding a sportscar while still paying for it is alien to me. I only added hitch and DIY repairs on mine after paying my car off. and I'm not a car guy at all. lol
Part out the car, and sell all the performance parts off the car and put back to stock. Then sell the car
if you're going to mod your car keep the stock parts so you can put them back on if you have to sell it later
We act as if our jobs are gauranteed They are not. He is 21, young. He will be ok going forward.
Idols always lead to destruction.
When people dropout of high school, I roll my eyes... you dropped out of the most required thing a job requires 😂😂😂.. why did no one in your family tell you this was stupid!!!
Also didn’t need a student loan.
Gee , I'd of been happy to drop out of useless high school early and gone into construction work. Tell me what you really learn in high-school after 9th or 10 grade???? I learned how to work and run farm equipment on a dairy farm. That was more learning than any high school could teach me.
@@musicman7297Good for you, but only a fool would make an argument FOR dropping out of high school.
@@eggsinsideme Only a fool gives themselves a thumbs up. PS. I'm retired, with no debt and gold and silver.
@@Primitive_Code LOL 😂, tell me why if you are teaching kids .... that they are becoming less smart these days ????
Made all that money and had no savings account. The american dream is a nighmare of DEBT
The American Dream died with JFK.
this is why i stay away from credit cards
My husband wanted a kit car, where you build your own Cobra. We saved up the money, it took over 5 years and he got it! We have only ever borrowed money for mortgages
That's the way to go! If you spend 99% of what you make, you'll be fine, but if you spend 101% you're truly in a hole.
Yep. I'm a car guy and wanted to make an old car fast. Saved up and cash flowed all of it.
It's a toy, not a necessity.
He better sell them before they get repossessed. No matter how good you think you are at hiding the bank's vehicles, the repo man is better.
"I'm in a bind Nate."
Sista looking lovely today! Loving that hair!😍😊😘
Civic are very reliable! Put motor on Civic & sell everything else. Then focus on GED.
than you Ramsey channel.
I come here when my tiny 30k debt begins to give me anxiety 🙏 😂
This guy threw a blower on that super slow, guarantee it.
He's me, except I paid cash for my Charger before modding.
Sell everything except the sierra. You need that to get to work. Get another job quickly. Mechanics are in demand!
Hit the gym so you can excel at firefighter school in sept.
Hot rods are a colossal waste of money.
No one is telling him to get out and get a couple of jobs (any job) until the firefighter job opens up.
I work in the car business. Young salesman with $700+ car payments left and right. I try to tell them what a liability they are, but they dont want to hear it. Meanwhile, I own my car free and clear 😊
I have a cousin who worked for Chevron and has been with them since graduating out of High School. Now he is retired from Chevron after 45 years. He has stock in the company, and last year when gas was up. He made a killing in the Stock Market. He has been living in the same house since he was married back in 1965. He saves money like crazy. He still has his 64 GTO, and drives an SUV. When he retired had over $300,000 in stock, now it tripled since last year. He started as a mechanic and left working in the executive offices of the Company. Lucky!
Me: Im in a bind, also me: i own 4 cars 😂
I wonder what he can do about it
I read the title of this video as: I’m 42,000 in debt and just got laid. 😅
Firefighters is basically a unionized position. Even if it isn't union, it is union. The sports car is worth more in parts. Very hard to get into unless you know somebody. This guy shouldn't wait on a dream but work his butt off until he is above water.
He has basically short term goals and long terms goals. Short term would be to get ANY job and keep cash flow going. Take any job you can get hands on. Sell the cars but keep one that is reliable. This is America you need transportation. Layoffs can happen to anyone, don’t panic but definitely learn from it. Cars can be a ridiculous hobby. I wish him well.
Just get after it, sell the two paid off cars should be enough to get out from under the sports car. Go get a job as a mechanic somewhere TODAY! Work on you GED and knock that out. You should be debt free with money in the bank by the end of the year. If the firefighter thing doesnt work out keep banjing money, then find a volunteer dept...get some skills and try again next year.
If I made that kinda money, I would be set for life.
Agree same here and that guy is a fool to have multiple cars while being unemployed and in debt
Car broker...seen it all the time. I wish this young man the best of luck!!!!
Sell it all! The modifications lower the resale value to dealers. They like stock parts their mechanics were trained to work on. Definitely should go private sell. Clear it all out and chalk it up to a lesson learned.
Could void the warranty on some cars.
Modding cars is an expensive, but fun hobby. There's nothing more exhilarating than making an old car fast. I do it with cash only, and investing comes first in the budget.
Whatever is left over is the play money.
A "Car Enthusiast" with an old Tahoe, a Sierra, a broken down civic and a Camaro 😅😅😅. Is this Hector from Fast and The Furious??
21 years old? Ah he'll be alright!
Let's be real: He aint getting any of that money for those cars that he modded. My friend works in the car sales industry. It costs them money to bring it back to stock. Nobody cares about the subwoofer system in your Honda Civic, especially when most people use that car to get groceries and now, you have no space for it.
At least all his debt is cars and he just gotta find a way to sell the ones he owes on
I paid off over $60K in student loans in just under 2 years. He’s still young, he has to get rid of those excess cars.
...he's not gonna sell
All that money wasted on cars. 😮
take it from someone who doesnt have a college degree and still earns great money, stay in the heavy industrial side of career path (dont go be a firefighter, you'll be poor). you'll earn a whole lot more than the vast majority of degree holders, and you wont have to borrow $100k in student loans to get it. the dude just needs to grow up and manage money better. a degree wont solve what his issue are. get your GED and then move continue on into the industrial side of working. im telling you the amount of money you can earn after 10years experience in some of these industrial jobs is bonkers.
Keep the sports, its a huge loss
No point to sell a modded car
Sell private party not dealer.
When you get back on your feet. Save up to buy vs taking out a loan.
He should open a dealership
Money is not worth it to him? How else do you pay debt and bills?
Is this because you did a bunch of stuff to it? Yes Jade. He just said because he modded it.
KBB does not take mods into account. So he can get more then the KBB.
How old it it that he is paying $270 a month?
Keep the honda 😂😂😂 and getting an engine
Spending 100k on all depreciating assets is literally stabbing your future self in the back
He made a boat load of money and NOTHING to show for it other than a HIGE debt ??!! Doesn’t his parents teach him how to budget and save for RAINY DAYS and now it’s a BIG HURRICANE and STORM ⛈️ !!!!!
Dude sounds like a Fast and Furious enthusiast. I suppose I was WHEN I was in my early 20s. Thankfully I stopped caring about the car I drive as I got older. I mean roads and traffic are horrible, gas is high. It's just not fun to drive anymore. I'd rather go for a hike up a mountain, peace and quiet!
Now I'm not trying to be an A$$ but you're 21, very, very young. Getting laid off with $42K in debt is a small problem. If you were 51, in debt and laid off much bigger problem.
2 words that’s will change your life financially ….. “Bus…. Ticket”.
Sell 3 keep one car… if there is no public transportation,,, he need to get around for
Job interview,,,,
Maybe he got a servance package from his job,,, to help with money in his pocket
Than collecting unemployment,,, benefits,,,
At least this guy has the excuse of being young. It never ceases to amaze me when I see a vehicle that has been heavily modified in one way or another, with thousands upon thousands spent, and it is worth no more or even LESS than if they had done nothing.
Wonder if aunt and uncle will be happy to get those vehicles off their property?
Cars are an incredibly expensive passion. If you're gonna go for it, go for it. But make a game plan financially or else that hobby will eat you alive.
This guy called to brag about his shitbox car "collection😂
I don't have money. Let me borrow it. I owe even more money than I borrowed. And that's the cycle of generational poverty.
I'm religious and money isn't everything but I own 17 cars
21 and was making $100k+ as an oiler.... why are more people not doing that?
Like do it for a few years after school and then go work at Starbucks and skip the part where you go to college for a worthless degree
It's probably a dangerous job or one that takes a lot out of you physically.
Because people are lazy. I'm retired and worked construction my whole career. I ran a lot of heavy equipment but still in my 60s get out of the machine and work on the ground.
@@sprint7412LOL 😂, you have absolutely no clue. 😂😂😂😂😂
People are lazy and want to make money with uber eats, door dash, instacart, deliver amazon packages
@@musicman7297Just because people don’t work a job that destroys their body doesn’t mean they’re lazy. It means they are smart lol
The caller doesn't care about money, but he owns 4 cars lol.
All the firefighters I know are broke and have 2 jobs.
You’re saying money isn’t an idol for you, but you made cars your idol. That’s not more noble than making money your idol. I feel bad for this guy who had no parents in his corner, it seems. No one to guide him or help him to make good decisions or be financially literate. I wish him the best.
i dont think the sports car would do him much good to sell , unless he finds someone who wants all those mods and is willing to pay more for it done up like that . the hit otherwise would be too big and he it would be better than a beater car for him
Exactly the reason do all Dave Ramsey tells you to.
Cars are the worst possible investment you can make.