28-Year-Old With More Collections Than Anyone Should Ever Have
ฝัง
- เผยแพร่เมื่อ 13 มิ.ย. 2024
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🔥Meet John, a 28-year-old who has faced mounting debt and collections, finding himself currently unemployed. Despite these challenges, John's mindset has undergone a significant transformation, and he is now determined to take action and improve his financial situation.
🔔Subscribe for more Finance Action: / @itsromainfaure
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🕒TIMESTAMPS🕒
0:00 PARTY STARTS
01:23 WHAT THE HECK IS GOING ON?
3:04 HE WAS IRRESPONSIBLE!
5:20 INCOME & ASSETS
8:50 HE GOT BURNED OUT!
15:09 CHECKING ACCOUNTS BALANCE
18:49 EXPENSES & DEBT
22:25 BAD BAD COLLECTIONS!
29:54 S***T EXPENSE
33:13 MONEY CASE
35:46 WHAT WOULD I DO?
41:55 FIRST TIME ON THE SHOW!
46:50 I HAVE 17 CREDIT CARDS!
48:48 HIS FINAL WORDS
50:08 DID HE TAKE ACTION?
#financeaction #financialfreedom #itsromainfaure
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Editor: Danica Studioso (www.danicaedits.com/)
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Disclaimer: Please be aware that this video and all other content produced by Romain Faure are not intended to serve as investment guidance or formal financial advice. The information presented is solely for entertainment and educational objectives. The money displayed in our video podcast is for entertainment purposes only and is not real currency. All cash shown is prop money, and should not be mistaken for genuine legal tender. Please enjoy our content responsibly!
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Financial education, Finance Action, American debt, personal finance, budget money debt cash, how to invest in real estate, how to start in real estate, rental property, investment property, compound interest, buying house, insurance, save, buy, pay off debt, debt free journey, financial independence, how to pay off debt, how to pay off student loans, debt snowball, financial independence retire early, how to pay off student loans fast, debt payoff, how to make money, get rich quick, get rich, make money online, net worth, loans, credit score, should I go to college, college debt, student loan forgiveness, debt free community, student loan, credit, loan, budgeting, stock trading, crypto, finance, budget, student loan forgiveness, car payments, credit card debt, debt, credit card, payday loans, car debt, The Dave Ramsey Show, The Plain Bagel, The Rich Dad Channel, Graham Stephan, Meet Kevin, Ryan Pineda, Elena Taber, Noelle Randall, Lili Thompson, John Olfert, Bigger Pockets, Caleb Kids Show, Dave Ramsey Live, Caleb Hammer, Coffeezilla, Bridgette Wilson, John Oliver, Che and Cherice, Caleb Maupin, inflation, manifestation.
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The "Did He Take Action" portion of your videos make them stand out in the crowded field of financial advice videos.
I really want to know if they took action 😊
I started watching Caleb's show last year and I've found myself pulling away from his show because of certain behaviors. I love your channel because you're very efficient, knowledgeable, and compassionate without being over the top. You let the guests talk and you offer reasonable solutions. You also understand more about finances, family, and resources in the US and it shows (side note: I *HATE* when YT finance people say "get on section 8" as though it's an instantaneous solution, or "just drive Uber Eats" without considering the financial implications of doing so. This shows they don't really understand the economic landscape and are basically just parroting what other finance people say). Regarding John's goal of being a pharmacy tech: it's hard being in retail pharmacies these days. I did it for 2+ years and I was desperate to get out in the end. But if he's determined to do it he does not need to go to school because places like CVS and Walgreens will train you and then you just have to take the state licensing test. I had to pay for the test, but I was still paid at a lower hourly rate of $11/hr during training and then it went up to $13/hr after getting licensed (Santa Fe, NM around 2017; pay may be higher now). By the time I left in 2019 I was making $13.06/hr with my last raise being a whopping 6 cents. I worked for CVS.
Hope this helps ❤️
That hardly even pays the rent!!! There's a gigantic disconnect in our twisted reality.
@@user-lf2lf6wy4z I made it only because I was married at the time and had my ex's income also. Even so, it was rough. Besides the low pay and stressful and chaotic working conditions, they constantly called me to come in to work yet refused to give me more than 6 cents as a raise or classify me as full-time. The pharmacy tech lead made about $16/hr after being there 7 years. Again, this is Santa Fe, NM in 2019 so pay may be higher now but it probably still isn't high enough to pay rent or prevent the need to work a 2nd job
ETA: forgot to mention that there was a pay cap also at that time. If I'd stayed the most I could have made was $19/hr, regardless of how many years I put into the job. Last I heard the current pay cap is now $25.75...
Thank you for such an interesting comment - I will share this information with John as I am not an expert in the field of his choice. I truly appreciate your kind words and viewership. I hope to continue providing value across a wide variety of stories 😊
I feel the same. I followed the other channel very early and now Romain is my go to ❤
he's gross af
I just want to say Romain you have been providing extremely useful tips lately, prepping for promotions, differences in retirement accounts, different insurance decisions. Ive been LOVING the tips man keep it up. This is what real financial education is about.
Thank you so much Justin - I try to bring variety in tips adapted to each discussion :) each video has a unique information to it 😊
Quitting a job before you have another one lined up is not a wise decision
Yes it is not recommended …
@@itsRomainFaureyes but we dont always make good decision
Not always bad jobs can be so harmful they need to be quit.
No job is worth your mental health or your life. Try to find a job before quitting but if you can't and your mental health is not the greatest, quit.
If finances are tight, you're definitely right. But I've quit without something lined up a couple times due to being fully burnt out and not having enough energy to start job hunting or focusing on the next step in my career. I had money saved up, and ended up finding new and better jobs both times after a couple months. Zero regrets.
Romain! I’ve been binging your videos lately and I gotta say the work you put into this is incredible. I was an avid watcher of the “competition” for awhile and stopped a couple months ago after they started going in a different direction. The work you do here is amazing and your kindness, compassion, and authenticity are a breath of fresh air. I’m stoked that this channel exists to scratch that personal finance audit itch. Wishing you nothing but success in this endeavor😊
Thank you very much for your positive encouraging comment 😊
I love that Romain tells people to move to more affordable places.
Don’t get stuck 😀
his journey from financial mismanagement to learning the importance of budgeting is incredibly relatable and inspiring. It's a powerful reminder that financial education can transform our relationship with money, offering not just survival but a path to financial freedom. 💡
Spot on Carl👌
I love the tips on negotiating a pay increase or promotion. It is important to communicate to the company the situation of hiring and training new staff if no increase is given if you decide to look elsewhere for another job despite your good work history . 👍🏼
The road to 20k is looking closer and closer 💪
We are going for it 😊
More like the road to 1 million! It will come soon I am sure with Romain’s great practical financial advice, listening skills and compassion and the great editing on the channel, word of mouth will do wonders and soon this channel will hit 1 million subscribers! 🎉
Hi Romain! I don't have much to say about this segment but I thought I'd add a comment for our mutual friend, Mr. Al Gorithm. :D
Honestly, despite the collections, I really admire John’s good attitude and doesn’t make any excuses. He seems very self-aware! I have high hopes for him!
He made tons of excuses, had to go to anime convention, had to take money from friends for hotel and then spend it instead of use on the bill, had to buy stuff he liked at target🤦🏼♀️
@@jodieknox4593 yeah but he doesn’t make excuses for them. He acknowledges the past, knows it wasn’t wise, and seems determined to do better.
Ronain, thank you so much for taking the immense amount of time I know if takes to create these videos. Thank you fir sharing your knowledge with us.
Thank you as always for watching Lizzy :)
Romain! Love to see an upload. Your content has been my lifeline as I work. I make it especially important to listen on payday so I keep myself in line with my goals.
Cheers 😊
That’s amazing ! And I look forward to be your voice of reason during payday - keep those savings up !
Yes. Romain's a good influence on all of us !!!!
I feel like this guy really benefited from leaving the job (albeit not financially wise to quit without a plan) that didn't give two shits about him. He seems to he moving along.
Agreed 👌
John, I'm so glad you learned early about debt. It's sad that credit card companies are predators in America and we are the prey and they like it like that - sad.
Also, when you get your pharmacy license, look at all the options where you can work - retail spaces Target. WM, Krogers, etc, , hospitals or compound pharmacies. Also, look at other states beside Nevada - though you are still close to you family, which is totally understandable. I'm rooting for you John!
Another great episode Romain!
Thank you Kirbie 😊
I am so proud of John!! He has a strong mind and you have taught him great strategies and he is on a path to recovery and success. I want him to become a millionaire in a few years!!
Loser generation
Love this channel!
Glad to hear it!
Discovered your channel not too long ago, because I follow another channel with the same format and love your balanced approach and the wide variety of stories and the little anecdotes. Bravo et plein de succès à venir!
Merci bien - welcome aboard 😊
Great episode! I really liked the segment about asking for more money. Awesome guest , too.
Thank you Maddie :)
It’s refreshing to see a healthy mindset with finances. 👍🏼
Yes! New video day. 🥳
Romain FYI, if you renew home owners or auto insurance every year or 6 months never pay your current insurer. My Auto insurance is 818.00 a year now. If I stayed with my last company they quoted a renewal rate of 1291.00. No accidents, no tickets. I called another company read my coverage limits to them and they quoted me the 818.00. Prior I was with the same insurance company for 12+ years. They raised my rate every 6 months. Again no tickets or accidents. They refused to negotiate. I didn’t know that what I thought was “loyalty” to me is “sucker” to them. Always leave your current company for a much lower rate. All the companies play this game. You don’t have to wait until your term ends. Let us know what happens.
The insurance industry SUCKS !!!!
All insurance companies are wealthier than anyone knows. They all cry poor.
Agreed! Similar with internet, though sometimes with internet the simple threat of leaving them has worked too.
Good point ✔️
Romain, try it today and you'll be very surprised. I love your show and Otter’s Retirement Corner.
Seems like a nice young man and a gentleman, too! Good luck to him.
Romain, it would be fun for you to find a francophone in the US and conduct your interview together in French! Love your videos.
I am currently in France - and I am considering doing one with a French person in English - could be very interesting 😊 what do you think ?
It's nice to see a French person that is not snobbish about languages for a change. Communicating in a common language from time to time for practical purposes for easier understanding for either guests or audience, it's just nice to see how it can bridge worlds and it doesn't have to mean abandoning your primary language, it can just mean more options and more relatability.
@@AA-iy4gmwhat are you talking about. This whole channel is a French person speaking English
Unless they work in finance they probably will struggle with finance specific vocab. One of the last things to learn in a foreign language
Excellent interview as usual. Great tips!
Good luck John!! Thanks for sharing
I like how he counts months in French. As a Quebecois I sometimes do that too.
John sounds a decent chap. All the best for the next few years from 🇬🇧
Cheers mate !
Thanks Romain 💪
Thank you for trusting me with your time !
Wishing John all the best and I’m sure he will do great!
Thank you for the positive thoughts :)
Loving Finance Action! One of these days I’m going to make it to Vegas 🤞🏾
Excellent !
Great content as always. Im rooting for ya John
Thank you Donatello - I remember your first comment when I was just starting :)
You are like a Caleb hammer that isn’t annoying, not a copy, a massive improvement.
I enjoyed this episode with this guest! I think John is going to do really well in life, he has a great attitude & great personality!
I agree with you :)
Loved your advice about approaching a raise. I feel the French culture is more honest and straightforward to the point. I feel my friends and myself should put those qualities into practice more. Sometimes Americans including myself get too politically correct, need some straight talk.
Good luck in your next negotiation mate :)
As seen on another TH-cam channel, Americans, when not being overly positive and extremely polite, tend to scream and judge. Direct but not mean is hard.
Yay! A new video! Really enjoyed it. I think John is going to be fine.
Thank you - and I agree with you :)
A new Romain video! Immediate like and I have enjoyed this a lot. He seems to have a good head on his shoulders I bet if you interview him in a year he'll be doing great. Maybe it will be easy since he could be in Las Vegas?
Spot on !!! I am looking forward to his update when in Vegas - good idea 😉
Yippie, another video from you ✨️✨️✨️✨️
Best finance related show on YT!
Cheers to you 😁
Quibble: Freelancing isn't being "unemployed" it's "self employed," it's a real job even if it's not traditionally structured the way we usually think of 'employment'. :)
Truth
Fair point ✅
I live in California and $80 a month is about how much you pay if you have no collision/comprehensive coverage.
Good info !
Hey Romain, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
Credit card wise: I didn’t have a card for the longest time bc I didn’t want one until I knew how to use it. I now have one credit card and I use it to pay for everything. I then pay it off entirely every month like clockwork. My credit has shot up and I have rewards on it. But I came in with the mindset of I refuse to give the banks easy money which is what credit card debt is.
Love your show.
He needs to be a lot more careful with making rash decisions. After just one year at the job he quits holding tons of debt and no prospects. Then finds a job that pays $2 less an hour than the job he just quit. Good move. His biggest asset is the $7000 401k but he says he has no records and not sure what company it is at. I'd contact Vanguard if that where he thinks it is and discuss with them. Also, could he contact his prior employer and get more details if they will talk to him. He may have quit before he was even vested. Were his contributions shown on pay stubs or his W-2? So darn casual about what's really important. Good luck man. Hope there is a follow-up in Dec 2024.
Yes hoping to follow up with him soon 👌
A positive from this is that it will be a very long time until John is able to have a credit score that allows him to take on any more debt. The bad news is that he probably will do just that when he is able to.
I would say yes when he was in his pre-25 years old mindset, I don’t think he would today
Most of us live and learn. I sure didn't know squat when in my 20's.
@@user-lf2lf6wy4z I assure you - same here for the most part :)
Welp, it’s settled. I’m naming my dog little bambino.
Love that name ! My partner didn’t :(
Great video! Can you recommend some good high yield savings accounts please?
Of course, I like Wealthfront, Public is good to 😊
Hello Romain,
How does one save when u have to keep maintaining and upkeep. Since my husband does not want to downsize in order to have extra money. This makes me feel stuck. We need to put down a new kitchen floor and have other upgrades done. Not doing so prevents me from inviting people into my home. To do or not to do that is the question. 😊
Hello Susan, without knowing your full financial situation makes it difficult for me to guide you towards the right decision. Look for opportunities to show your partner that you are willing to start the “work” to save money, that will showcase true motivation, and increase the probability that he will want to participate. The best way to convince is by showing real actions, prove that you are IN to make it happen, and he will most probably follow :)
Hi Romain, I am a foreigner living in France and frustrated at the lack of information on how to invest meaningfully in France. Would be good if you could do vlogs on investing in France too.
The last vid with the girl that was doing well was such a breath of fresh air. Granted, this vid is more of the "This person made some very questionable spending decisions" that are usual.
It’s a variety for sure :)
McDonald's in doordash for 35?? Hes buying three mcdoubles with 20 piece nuggets and a large coke 😂. Its not just a normal meal hes buying lol
The opening scene on this video is so epic 😅. I’m excited to watch this video, Romaine. He may be happy at the moment, but that happiness will not last long. The fact that he asked his employer for more money so soon after onboarding AND THEN quit his job after only 1 year says he’s got some very unrealistic expectations. When he’s 50, he’s gonna be hurting if he doesn’t change his attitude toward money and debt.
I am hoping he will change his future as it seems he plans to do so. I see an intelligent young man who will make a grand difference in society!
@@Wisdom-Nuggets-Tid-Bits Thank you for slapping your big fat thigh 👋 💥 🦵
@@Wisdom-Nuggets-Tid-Bits Thanks for slapping your big fat thigh 👋💥🦵
@@Wisdom-Nuggets-Tid-Bits Thank you for slapping your big fat hairy thigh.
@@Wisdom-Nuggets-Tid-Bits Th*ank_you for sl@@pping your b!g f@t ha!ry thigh 👋💥🦵
Don’t wait to open the high interest savings account! So easy. I went from earning $11 in interest per month to $600+ in interest per month!!! BEST advice if you have savings!!!🎉
✅
How are people so stupid that they think banks are giving you free money. Like honestly I don't understand how ignorant people are. How are things not falling apart due to stupidity
$1678 for 1b 1ba 😢in maryland for me
How do we volunteer to be a guest?
Please send me an email at romainfaurechannel@gmail.com
6:36 FMLA !
I’m car free
And I have two e-bikes at 4000 dollars
So I never understood why people get into debt for a car or truck when you can save and buy one in cash
I guess borrowing huge loans and paying them back over a course of years means you’re very responsible and cool
I however will NEVER dream of doing this
It depends on where you live and your life situation. I live in a rural area with zero public transportation. A car is a necessity here for the most part, but some people do overspend unnecessarily on a fancy vehicle when a basic car is enough.
You should have an episode to show us how you get 6 percent. I think I am good at credit cards but on average I am closer to 3 percent, 6 sounds nuts
this client has dug a deep hole for himself and should re evaluate his work efforts and work performance as compared to his employment compensation...( ie don't be so lazy... get two jobs, like i did and pay the bills and then don't use credit cards, period)... once, the client makes those rational adjustments to his self image then he'll be fine and successful in his efforts and life
Dont judge yet - I think he WILL do that and will plan on that. His mind set is on the right track. He is NO lazy - if he were, he would not be on the show. I see him being a millionaire one day.
@@Wisdom-Nuggets-Tid-Bits alright.. i'll defer to your assessment of his personality (i do really enjoy those "rags to riches stories... makes me believe in old sayings) and i'll give him the pass on quitting a job without another job offer.. never do that... even if you love your job, you should always be looking for a better job, always...
@@superman9772 He WILL. I see him making huge changes and being a success. He is working on this at a young age and I am impressed.
Romain One of my favorite parts of your show is the prop💰 money.
Also I will never understand why you don’t have more followers because your show is so much more educational than others. I think the reason is because the other TH-camr is more into entertaining people with over-the-top silly & ridiculous antics that really is not important to financesand and unfortunately ppl love to be entertained. I on the other hand prefer good solid financial knowledge with no frills and no bs.
Thank you.🙌🏾
Thank you for your message - we are growing slowly but strongly. Our statistics are by far excellent compared to our subscribers count so we are putting the right structure in place when everything happens ✅
I thought I read somewhere that paying off a credit card balance and then closing the account can increase your credit score. Like, if you never close an account, it goes against you? I understand you need to have other credit accounts open to show an ongoing credit score but I thought it would go against you if you just kept opening accounts and never closed them? Might be different in the US compared to the UK though!
It really depends on how old is the account but I wouldn’t close them personally. Again depends on age, benefits, etc. And also frequency during which you hard pull your credit score.
@@itsRomainFaure I see, thank you!
I find it pretty funny when young people talk about burn out when they were never on fire 🔥 to begin with. Not sure why a person who doesn’t have a job needs a reliable car.
You don’t need to spend years and years to experience burn out though
@@itsRomainFaure If work was fun we would be paying them. If you want to get paid more you have to stand out in the crowd. Be the best at whatever you are asked to do. You will be known as a person of character if you do.
Algo for the comment
Great content! I am getting North American financial education for free. Thank you.
Wonderful!
Woow so ealry!!
Yes🎉🎉🎉😮
You know it :)
@@itsRomainFaurehope he can return and hopefully be in a better position
@@itsRomainFaureim autistic and in debt i wanna get a financial helper to help me get back on my feet.😊
It's nice to have good credit but being retired I don't think I would spend that much money to increase my credit score. I avoid credit and all the money back offers. I buy many things using cash and places that don't have credit card machines. The savings are big. I prefer to stay out of the cycle of spending more money each year. I live a life much different than most. Have a great week.
I completely understand where you are coming from Steve👌
Comment for the algo
a $12K debt from 2020?!? I wouldn't pay them a penny or even talk to them bcuz that can reset the debt clock. I would let 7 years pass and have it fall off my credit report; your credit is already damaged from the debt going to collections in the first place.
Al Gore Rythm 💃🏻
Not sure what that means :)
@itsRomainFaure It just means I’m commenting for the algorithm 😊
@@itsRomainFaureIt's a play on words. Al Gore was a US Vice President. Algorithm is the proper word.
He needs to get his job and attack that car debt. That car will last him a long time if he maintains it. Dial back the entertainment spending temporarily.
Yep!
crazy you completely stole Caleb Hammer's bit.
Crazy you haven’t watched the video and still willing to comment. Do better mate !
@@itsRomainFaure you completely stole a guy's bit including editing style. anything for a dollar, I suppose. Cheers! Sorry if that hurts your feelings. :(
🥰🥰🥰
If u want to censor the names of the bank sending him mail, you might want to edit over his mouth as well. Unless of course you low key want people to know who seems to enjoy targeting folks like john with offers🤭🤭
I cannot confirm or deny
My work history is 46 years and I’m still working. This generation doesn’t wanna work. You never quit a job unless you have another one lined up pathetic
Make your car payments 2 weeks before the due date to cut the interest rate and interest in dollars in half each month
Unbelievable program that is helping a lot of people: why 16,000 subscribers? Should have at least 100,000 subscribers. It will get there eventually, Romain!🕍🕌
Thank you 😁 yes we are growing towards it haha
Hey Romain, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
I appreciate your help I am already pretty well covered on that front 👌 please reach out at romainfaurechannel@gmail.com