People ARE IN SERIOUS TROUBLE! STILL PAYING OFF LAST YEARS DEBT!
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- เผยแพร่เมื่อ 10 ก.ค. 2024
- Almost half of all Americans are still paying off debt that they accumulated last year for a summer vacation, which is alarming news considering about half expect to go into more debt this year for more vacation. It's things like this that are making the economy look so much better than it really is because all of these people are financing these trips with credit they can't afford.
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DON'T BUY A FLORIDA CONDO UNTIL 2026! th-cam.com/video/ctPUTxm05nQ/w-d-xo.html
@@MichaelBordenaro wow wow, thats a long time, 2025 buy one get one fees paid for 2 years. GOOD SHOW MAN.
The middle class disappears a little more every time there's a recession.
@@RicondaRacing Idk, it's worked out for me. YMMV!!!!
Creditcards love me...
Don't buy a FL condo at all. Buy a small house outside of Tampa that are mostly just over 200k with no HOA or any other fees. Don't forget to file for homestead exemption so your taxes don't go crazy. Pay it off as quick as possible. Now live happy on 1-2k per month forever.
I am a single woman, I make 50k a year and I honestly cannot afford to live! I am now buying essentials on credit cards. I do not live beyond my means. It’s crazy to think the government thinks we are okay. I have a full time job and work part time at a wholesale club. I am sickened by the people that come in and buy hundreds of dollars worth of food for FREE and cannot speak English with 5 kids with them. This country has gotten out of control with taking everyone in. We need to take care of our own first! Free medical too meanwhile my 74 year old mother has to pay $700 every 3 months for a medication that is needed to live. It’s terrible😢
Absolutely! The system is so skewed.
@@tarey05just saw this, when my wife was sick often in the emergency room we would see people many times , I am pretty sure were here illegally getting care and giving a medicaid number,didn't speak a lick of english . I checked on this with our welfare office,our state hands out assistance to anyone no check on citizenship anymore.
Vote wisely. If unable to choose, vote for the other side. You are correct in figuring out the economic numbers are being faked. 40% of groceries are HPF's. Go back to beans and slow cooker food. I have also noticed food weight in the boxes are shrinking.
Been like that in the UK for years. We are at breaking point here yet they keep importing them 🤫
That’s what people felt when all the immigrants from Europe arrived in the Americas.
People who take on debt to take a vacation are really stupid.
People admit they use student loans for spring break.
No dought a vacation is a prize 4 secseading. No a ohh look at me I'm a want b rich
Vacations are life experiences not just TV vacationing. Travel can mean being with family. Travel shouldn’t be considered a luxury.
@@Whiteowls4532Obviously you were never taught needs from wants. This is why the younger generations are in debt..being irresponsible and entitlement minded
@@rnish2958 I know someone who bought a CAR with his student loan.
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
832/827 credit score and I pay my cards off monthly. House paid off, Car paid off. I still get value from listening to you daily, and thumb up every day.
good for you, it doesn't matter
🎉good job. Can't wait to pay my house off.
U r American hero
@@rustybumperclassics6342well in USA u newer own the house after paying off bank county will be the owner to just let u live there
All you have to do now , save for retirement and extra cash .
There's people who had lavish weddings, fast forward some years, they are divorced and STILL paying off the wedding. Don't spend money foolishly folks. Get out of as much debt as possible, save money, invest.
when my spouse and I , married.
best wedding ever , total of 28 family members on our property .
We spent $ 600.00
Anyone who spends more than $1,000 on a wedding is a fool.
@@benjaminmeza5372Any man that spends a dime on a wedding is a fool
Married Dec 2014. Spent about $1500. Venue - rented a private beachfront gazebo in local state park ($500) I consider it to be a donation to park; license & pastor $300, simple gold bands $200, lunch for 6 at high end restaurant with a bottle of Dom Perignon $500. BTW been together 26yrs+ and married 10yrs still going strong.
Yes the venue was expensive for 30mins but I always said if I get married it will be on the beach. This particular hidden gem is unbelievable and few people know about it (I have a framed watercolor of the gazebo / beach from a local artist hanging in the MBR)
Funny how that works out...
When your neighbor loses their job it’s a recession. When you lose your job, it’s a depression.
I'm close to paying off my old card with low interest, and now they are constantly bothering me to get a card at 34%. I'm not biting.
Awesome> tell them Middle Finger
We don’t go on vacations any more…..can’t afford it, need to keep a savings.😊 Only purchase what your paycheck can afford, or you’ll really Pay later. Be responsible.
But you can’t take it with you when you go. There’s a balance to it. Who cares about how much you have in your savings if you never get to enjoy it or do things that actually make life worth living?
People need to go on vacation. Everybody needs a break once in a while. Or else they'll go crazy.
u can still budget for it over time. i saved $100/month for 5 years and was able to take a 6 month vacation in japan (country side).
@@vallmak Bullshit, i've not had one in 20 years. And before that ive taken vacations and came back in worse shape..
@@rachelesmith3342 I think you 100% misunderstood. Pay for vacations with cash, not credit. Nowhere did the poster say 'die with a huge bank account'. A small amount of delayed gratification can put you in a position to afford a nice lifestyle with no credit card debt.
Unused to live with credit card debt. Took me years to get my stuff in order. Now I pay everything off by statement close.
They made enough money from me and I'll never do that again 🙏
EXACTLY‼️By statement close, pay that amount before DUE DATE‼️NEVER PAY INTEREST AGAIN‼️
I've learned the hard way, too.😢
Same story, the credit bee stung me too many times.
My dad told me better to eat shit than get into debt . I never eat shit .
Being debt free is the best form of being in control of your life. I paid off my $800,000 home in Orlando on a 2 acre wooded lot in the "suburbs" right next to a wild life preserve. I get several texts and calls a week from realtors to purchase it. All the other homes are newer and are 1 million plus. My home is one asset that is going back up in value. I drive a 2006 Toyota 4 Runner with 108, 000 miles on it. My next investment will be new Costco tires. In March of 2025, my Verizon contract will be over, and I can go to a more frugal cell phone company. After 40 years of nursing, I retired this year. Luckily, I have a pension from my hospital in Burlington, Vermont. When my husband got transferred here we had his 401K from Applied Materials. Luckily, I never took money from it after he died in 2004. I paid off the house with his life insurance and paid cash for my car in 2006. I don't put any unnecessary improvements into my home, just maintenance mostly. My pool and well are a constant source of financial aggravation to me. I spent $10,000 last year for a new water filter and softener. That was a painful check to write, but I needed it for my well that has 12% iron in it.
But yet these are the people who constantly complain about living paycheck to paycheck. They waste money on vacations that they cannot afford, but complain about the economy. The economy is not always to blame for their level of foolishness with their money.
Bad financial decisions! The American way!
@bernaclischurchill4463 In fact their foolish spending is part of what drives inflation.
Praise Jesus Christ! Please read in The Holy Bible John 14:6, John 10:10, Mark 8:36, Hosea 4:6, John 3:16-17, Matthew chapter 24 and Revelation 21:8. HALLELUJAH! God bless.
I don’t take vacation but I do like to honor my Dads grave once a year. I had opened a travel account in the past for my job and recently used points only to get a nice hotel room for 2 days in September. I am really looking forward to it. All I need to pay for is one tank of gas.❤ my Dad taught me to bring my own food like pre-made sandwiches and snacks!
I go out camping in woods, on average once every 2 years, bless you for respecting your father, he taught you well.
Your dad was great. But we should not have to live this way… this is insane!!!
My dad was very frugal all his life because he was a young kid in the depression, but he turned into a self made multi-millionaire.
I lost him in 2017 at age 92.....he was the greatest man I'll ever know.
God I miss that guy!
My dad was rich all his life and blow all his money on gambling and whores at the end. But at an early age he dumped me and my family, so I lived with not much money and I'm glad for that. It taught me how to work money and I'm 60 now and want repeat his mistake for my children and wife. So, he did me a favor and I thank him for that. God bless you and have a nice life.
@@aronrodrigues 💯 I certainly believe in being frugal and financially responsible. However, lowering our standard of living isn't the answer, imo.
I’ve been paying off my credit card bill every month for as long as I can remember if that thing isn’t paid off at the end of the month I’m so stressed out. I’m practically calling 911. 😂
You need to pay every two weeks and double or tripple the minimum if you want those babies to make a diff
I haven’t carried credit card debt in nearly two decades. It’s learned behavior. I love paying off our credit card debt before and/or at the end of the month.
Same here:)
Same.
I'm about to head off on my summer vacation next week, but I've been putting money into my HYSA each paycheck since last Christmas to cover it all. I can't imagine the stress of coming back from vacation to more debt.
Imagine paying for a shirt for $20 but end up paying $100 because of interest and minimum payments?
Financial discipline is underrated.
and uncommon
Most don't realize what they can go without until they're truly forced to go without.
It’s not how much money you make it’s how much money you keep the problem is with today’s cost-of-living. It’s harder and harder for people to keep the money that they earned, but it’s not how much money you make how much money. You keep.
we went from the C0VID lockdown to an economic lockdown.
What are you talking about? People are traveling more than ever
Speak for yourself! I’m doing great in this economy.
Well said!
The plan is working fine..STANDBY we ain't seen nothing yet
@lexdunmon7345 "Economic Lockdown"??? What the hell are you talking about?!? People are spending like drunken sailors!
Debt of any kind is terrible. We paid off our home in 5 years in 1992 and have zero debt for the past 32 years. If I can’t afford to pay cash, I don’t buy it. Every car we have owned in the last 40 years were paid off before we walked out of the dealership.
We always lived well below our means when we worked and invested a minimum of 25% of our wages for over 30 years. We also paid for our daughter’s college education. We continue to invest today, even though we have been retired over 20 years and we have a lot more money today than we had when we retired.
Stay out of debt and live below your means if possible and the financial stress in your life goes away.
I wouldn't go that far. Debt can useful for business. Its not really realistic for a big construction company to pay cash for millions of dollars worth of equipment.. sure you can rent X machine for 3K a month and have no debt.. or you can finance the machine and pay $1,900 a month. So long as you have the work for the machine how is the debt worse than the rental fee?
Sounds like you were always middle class
@@jonathantaylor6926 Debt is also different for a business. If everything goes to shit you let them repo the equipment (if you can't sell it) and you file for bankruptcy and the LLC you created takes the hit but you personally walk away reasonably intact. Personal debt is much harder to get rid of , especially the racket that is student loans.
My biggest regret in life was going to kindergarten in 1992 instead of buying houses. Don't be the same fool as I do people, childhood can wait, housing prices don't.
@@paulconner4614 Student loans aren't a 'racket'. The people taking out the massive loans for stupid degrees from over priced schools that will never allow them to earn enough to pay it back is the problem, not the loans themselves. And then somehow thinking the rest of us who are making money should bail them out borders on criminal!
Not long ago, the law forbid any company for charging more than 24.99% interest rate. I guess they were bought off.
The "good old days"!!
Ok, so, I'm glad you mentioned this. My friend avoided getting sued by one of the most predatory lenders/credit card . They charged him, a Florida resident at the time, over 24.99% and his attorney brought this up to the lender/cc bank and they immediately dropped their case. It was illegal that they had done that.
Now? Sky's the limit on these interest rates!!!
When Macys (revolving credit acct) sent out letters about their new 34.99% interest- I figured what’s next after retailer revolving accts? The BIG Banksters WILL ABSOLUTELY FOLLOW SUIT. It’s “VARIABLE Rate” -!! So who knows WTH it will go to! I’m OUT. Period.
And I do remember yrs back being able to call the card bank and say “I’d like my interest rate reduced or I’m cutting this card” -
They always did it like 3-5%- to avoid losing customers. Esp good timely payers with good credit scores.
good ol days gone bye bye 😮
Ive just turned 28 and have an 800 credit score. My Car is paid off. And theoretically have enough in the bank to last me over a year. The only debt that I have is student loan debt which is under 10K and I’m going to pay this off in no time. Me and my girlfriend plan on renting for atleast five more years and save as much as we can. We will not be fomo’ing into any house
👏🙏🥂
Stick to this plan!!! Best thing you can do!!! Awesome!
Smart and responsible!
Your future self will thank you! 😉
Credit card debt is like self-induced personal inflation
Yup! Not the government or the president’s fault.
Last year? I’m sure there are people paying for 2022’s vacation still!
That 35% interest is a killer..😂
Or weddings, birthdays, just eatin out, they come in all shapes and colors!!
Sunglass Hut needs a Michael Bordenaro line of Sunglasses! 😊
Quick update, my mobile mechanic business has been going well. Ordered some business cards. Dont feel down people. You can turn your life around! All is not lost. Good luck and God bless.
Well done. I’m sure you are happy not working at a dealership and dealing with Service Writers. 😂
Make some videos of your work.Make some extra dough while advertising.
@@kaputasri / I'll do that. Unfortunately I don't have nice recording equipment at the moment. So quality will be low .
Good for you! People are keeping and repairing vehicles rather than buying new/used.
What kind of services do u offer? Do u get parts quicker?
I went in the military for college, so students loans weren’t a thing for me. But while in college I realized how many around me used students loans for college, travel, rent, fancy dinner. One guy I knew was in college for 11 years. “I’m going to Japan, again.”
Post college has never used the degree he got, and got a job doing something else. I feel this happens a lot.
Same here. I joined the military right out of high school. It was a great decision and I eventually used my GI Bill for college, also. Now, many of my friends who did only college are working dead end jobs. The experience I got from the military is invaluable, not to mention the perks I've gotten along the way: VA disability compensation, a retirement pension, free healthcare, free undergrad/grad degrees, and now I pay zero property taxes in my home state.
I'm living 6 pack to 6 pack.
Buy a 30 ..😁😁😁
Debt is the Dream Killer.
No Dreams are Debt's Fuel
Bad financial decisions is an even greater dream killer
Same with Christmas Shopping debt.
... and FOOD for those on fixed income for decades....
Truth, people used to have separate savings accounts just for that and vacations.
Can you say Christmas Club and save the money.
Kris Kringle works well. Everyone picks a name out of a hat an and buys one gift for that person. There is also a spending limit. Time to grow up when it comes to Christmas. It’s become a materialistic nightmare.
@@turbotheamericanstaffy we don’t even do that anymore. Everybody (most) has enough and then some
As long as you have money to pay your bills , you should spend some of your money and enjoy life now . Don’t hoard all your money and wait until you’re retired to spend money. I’ve seen many people die with millions and didn’t enjoy it because they died shortly after retiring. Enjoy life
I believe in enjoying life, as long as the bills are paid. Saving up for vacation separately. Paying as I go. We're not promised tomorrow.
My home and car are paid off. That's half the battle.
Why am I still surprised and shocked? I somehow still thought everyone saved like I did and went on vacation and immediately payed off their cards when they were done. STOP SPENDING MONEY YOU DONT HAVE.
I work for a company that is affiliated with the airport. People come back from their elaborate vacations and when they go to use their credit card to pay their bill, DECLINED. Crazy.
😮
looool!
I was in the Houston air port the Saturday/Sunday hurricane Byrle blew in. There was a family stranded in the airport. Gate agent suggested they get a hotel. The lady said, “We spent all of our money in Orlando”. 😫
My friend was like use your credit card for the girls trips I said at the moment I’m currently unemployed I’m not about to slave for a vacation. I sat that trip out and fell very relieved I’ll catch them next round. Lol.
My wife and I haven't had any credit cards for over 7 years now. We live by cash. If we cannot pay for it with cash we don't buy it. It takes a lot of planning and budgeting. But we have a paid off house, cars and student loans. Debt free is the way to be.
I get like 500 cash back on my credit card each year and have not spent a single penny in interest.
@@jonathantaylor6926 We have always played those games and done well...but these days some people are too nosey and in those cases it’s cash!
@@jonathantaylor6926Exactly. I like watching that free money build up by simply buying everything with my credit card and paying it off weekly-ish.
Walked out of a business that would not take cash,server was astounded I would not pay by card. Was asking if I still wanted food as I walked out.
but you are losing free money. why not get paid to buy things you were already going to buy?
I’m still paying 34% credit card debt for a chicken dinner I bought 8 years ago!
Man this latest inflation data was f...ed
🐓 = 💰
I hope it tasted good. 😂
4reals
Hopefully the cost of that chicken dinner included a trip to an exotic destination at that price.
$6,200 average card debt? Many of them don't even go up that high. Like throwing parties, going on vacations is usually done to celebrate something. Believe me, if you owe over 5 grand on a credit card, you've got NOTHING to celebrate!
Years ago, while at lunch at work my two buddies mentioned their credit card debt. One was over $8,000 & the other was almost $40,000. The 1st one went on vacation a few times a year. NYC, Vegas, Hawaii one year. I had wondered how he did it. I was envious of him, thinking I was a dummy because I wasn't managing my money wisely. The other felt obligated to help his grown children at the expense of his financial future.
Seriously though, right? I used to get envious of the vacations people posted online of their perfect everything sitting on top of a mountain perfectly posed blah blah blah and now? Could care less. Avoiding major expenses like this is way better. One can always see scenic sights in a local area and pack a picnic. Who says one has to go into debt for vacations etc?!?!
Friends of mine take a pricey vacation yearly and buy too many clothes. We all have great jobs. They rent. My money goes to property taxes so I’m out $7K whereas they can spend/save that. Last year we had expensive home repairs that we put on a zero percent card and got HELOC at 5%. The zero percent card will be paid off in time and will free up so much money. I too get jealous of vacations but have been in bad credit card debt twice and got out. Been paying the statement balances in full for the past 5 years and will keep doing so. One of them is 8.9% so if there’s an emergency I’ll use that one. House will be paid off before retirement. Yeah, people can flex their lifestyle but at what cost? The way I see it, I’d rather invest in my forever home so I wont have to when I’m retired. Or less so anyway.
I offered to take my son on a road trip, had the money to do so. He was like I don't want to ride that much lol. I was like boy in my day we would've killed to take a road trip.
Most of them did not come here from all over the world for financial reasons. Most of them are young men between the ages of 25-35.
This is actually not correct 80 percwnt of debt is held by women
June 1 I just paid 12 k credit card payment so I was also one of those people to hold balance for 3 years! But what also realized how much calmer relaxed I am ! I sleep much better! Never Again with the credit card!!
I have only done stacations the last 5 years. If i dont have the money to pay outright I wont do it. CC debt is too stressful.
I work overnights, had a customer come in a few months ago, young guy, going to work, driving a big shiny new truck. He couldn't afford a 5 dollar sandwich, said he made 46 dollars an hour.
Self-inflicted wound
Did he get a sandwich?
I know lots of young and young-ish people driving beautiful new trucks -- and I know how much money they make too. I'm scared for them if the slightest thing ever goes wrong for them. If your vehicle gets repo'd, you'll still owe whatever is left on the loan, but that auto won't be sold at retail. It will be sold at wholesale. That shiny brand new truck could be the worst purchase of your life.
When not so smart people are trying to justify (to themselves) a large purchase, they usually leave out of their budget daily purchases like food, gas, and stupid impulse buying.
When he couldn't afford a sandwich while driving his big shiny new truck, did you tell him to "Eat truck buddy"
sheeple
I've saved almost 3 grand on disability. I'm starting a non profit. Yes, I have and will save myself. Thank you for your channel
I just spent the last 7 months paying off unnecessary cards I took out when when I worked so hard to get a high credit score. The first card I got was a Capital One quicksilvers card. I wished I stopped with that one🤦♂️. Opened 10 more . I paid off and cancelled 9 of the cards since the new year and will be only keeping two going forward. Just off doing that it’s ridiculous on how much money I was throwing away carrying all those cards. I’m only 28. I’m not trying to be old and Broke.
Maybe broke losers need to skip that next tattoo and also the daily $6 lattes.
I'm 76 and have never had a credit card. I've always figured - if I can't afford something today, I can't afford it tomorrow. I have no Debts. Unfortunately a bad marriage and total Cluelessness about money - I have no Assets either.
Just use. Debit Card
And you never had any fun. I am literally stealing from other customers taking advantage of the rewards programs.
@@IndigoStargazer I do. Cash and debit card.
*Amazing video, you work for 4Oyrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello, I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Barry Silbert, has been an amazing experience.
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down🤦🏽of myself because of low finance but I still believe in God
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Barry Silbert
Such information we don't get from most TH-camrs, how can I get to him
I’m in the high earner bracket and I don’t and plan not to spend any money on anything the next 5 years. My coworkers and friends in the same position I’m in are also not spending.
You growing your own food? Riding a bicycle to work? Not spending any money for 5 years is a tough life.
Doom spending is running rampant. I have several friends who are living like this.
I once had $45K in credit card debt. Took me years to pay it off. No declaration of bankruptcy. Never again.
We had $35,000 from building our custom home. We paid it off in 4 years. Never again. We use our debit cards and only carry a credit card in our wallets in case of emergency or there is a problem scanning our bank cards.
@colleenpeck6347 Mine was all young, impulse-buying foolishness. Guitars, electronics, SCUBA gear, flying lessons. - All things I could have paid for with cash if I had any patience. I also had $75K in student loans. I became shackled to the debt. I pay cash now.
We have too many grasshoppers in this nation and not enough ants.
My friend bought ONE subway sandwich and got charged an extra $35 by his bank for being overdrawn. I told him to at least buy about 5 sandwiches.
Years ago Wells Fargo charged me a late deposit $10 and overdrawn $35 for the same debit. I called and got the $35 taken off then I closed my account!
I switched from beef to turkey for dinners and pbj sandwiches for breakfast and lunch. I was going to grab smokies for camping but will have to do sandwiches seeing as they are 1.30 per hotdog
Nowadays whoever could pay their bills in full are very blessed people!!! Don't spend beyond your means!!
I travel overseas BECAUSE it's cheaper. America is overpriced. I had a great time in the Baltic states a few months ago. Got a ~$650 return trip flight. Airbnbs were like $30/night. Ate from supermarkets and just walked around. A trip in the US can't top that.
I don't even remember what my total cost for my last summer vacation oversea was.......oh wait, I don't have to, everything was paid for in cash. hahaha
There is an old saying, "No money down, a lifetime to pay."
I was wondering how people are paying for these expensive hotels prices now.
Instead of annual trips, we’re planning bi-annual next.
Taking on debt for any reason except life threatening? Stupid should hurt.
Credit card companies are predators.
No they’re not, they offer what they offer you as a consumer can say no. Think before you spend but Americans can’t do it for themselves.
Do they even teach economics and finances in High School anymore? It seems like the younger generations lack budgeting and financial discipline. Living below your means and understanding needs from wants will keep you out of debt.
THE MAJORITY, NEVER DID 😮 😢
I don't think so. I work with a lot of under 25 year olds, who are making minimal wages. They eat out everyday spending 10-15 dollars for lunch alone. They are going on trips, concerts, etc. and then complain because they have to have multiple roomates, because they can't afford to live alone.
Love your unique style, never change!
Want to add that a 12 piece fried chicken from Lee's Chicken with a small scoop mashed potatoes, small green beans, 2 corn, was almost $35. No biscuits and no drinks, this is ridiculous!
i feel hungry now
I go to KFC on Tuesday and get there deal of 8 pieces for $10 😋
The last 2 Tuesday they been putting 10 pieces of chicken in bucket 🤪
So cook at home
Go to Sam's club and get a giant roasted chicken for $5
Eating at home is cheaper.
Have not been able to go anywhere in the last 3 years can barely afford food nowadays business is down 90 percent it’s crazy how fast our country went down hill.
Bidenomics
How’s auto repair down? Most places I know are killing it. Esp since many ppl have used cars still.
Just paid my quarterly taxes on my 6700 square meter property, here in Chile, it was around US$110. Yes, that's it! Got a few modular-containers on it and no worries. I am rotating with food, as in now consuming the stock I bought 2 years ago. Each month I build up some. Things are going to be tough.
I could simply not afford to live in the USSA or The Netherlands anymore. But then, why? I like it way better here.
I am on my way!
Actually, it is US110 annually, not 1/4.
I was behind a woman at a checkout trying to pay by card. She ran thro nearly 10 cards before one that worked.
You’re assuming they were actually her cards…
@@dondgc2298 I'm not assuming anything, just saying what I saw.
@@dondgc2298 😁
Facts. I know some personally. They have 0 savings, still paying payments for 2023 vacations, but drive the nicest cars, buy the nicest stuff and eat restaurant food 3+ times per week. YOLO.
At some point, that will come crashing down.
These are the idiots who say “you only live once” and spend money they don’t have to buy shit they don’t need to impress people on social media who don’t like them
Wow, smh. I haven't been on vacation since 2018-19. I've made sure to be very savvy and frugal, especially since 2020. I have no debt. Paid off a small student loan balance during the pandemic. I can't imagine putting myself into a worse position just to have "things" or "vacations". I won't even finance a certified pre-owned car right now due to the ridiculous interest rates. I just refuse to make things worse by spending when I should be saving. Gratitude and happiness are free, and I'm thankful and grateful 🙏 I know what is is to truly struggle and prefer not to go through that as an adult. Must be responsible. 😊
I hear you. Both of our cars went kaput within a short period of time. Repairs and parts replacement put it out of our league. We ditched both cars and purchased one car and share this one by planning around the day etc.
We used my paychecks to pay all but $4k and paid multiple payments at once in less than one year. We got a deal on the new car because someone owned it for about 3 weeks and had 3k miles on it. All warranty/guarantees intact.
By making larger payments we were able to get the insane daily interest equivalent of $3.20 per day! to about $1 per day. We feel like we're racing to the finish line to pay it off to avoid interest rates etc.
Married 28 years and we have never taken a vacation; on rare occasion each out; don't have cable or Netflix, no subscriptions to anything...nada...zilch....
I have two cards with balances due to medical bills but it was cheaper in the long run and paid off within a year than having them go to collections. I also bought tickets to Graceland hotel and tour. All on credit for points and cash back. However I paid that off within the 30 days of the booking at zero interest with my small bonus at work.
Whats a vacation? Have not had one in 25 years and that one was my honeymoon...😀
Same, but almost 29 years ago. 😂
We went on a cheap vacation renting rustic cabins at state park. Very beautiful and relaxing! Can be even cheaper if we decide on camping at tent sites. Kids will remember that over staying at a hotel room for sure. I told my spouse from now on we will go only on cheap vacations if we want to upgrade current house and save money.
I’d rather do without than have debt. I really wanted to rent a beach house ocean front but came to my senses and rented on the bayside for half the price. I’ll still enjoy the trip ❤❤❤❤ just a different view
Remember the days when people saved all year for vacations and had Christmas savings accounts or put things on layaway? I bet a lot of those people still paying for last years vacation are probably adding this years vacation on top of last years vacation.
Quite honestly I could count on one hand the number of vacations I took my entire child/adulthood.
I have a Christmas club account, shop early and don’t spend more than I’ve saved.
Thank you Michael. My daily night routine is to lay in bed and watch your video before sleep :-)
Wow. I thought it was crazy that it took me three months to pay off my airline tickets.
Macy’s went up to 36.99%. Whenever we charge anything we pay it as soon as it post to our cards. We NEVER accrue interest. But these businesses are getting ready to start charging a fee if you use your credit card. Most are Resturant’s so we very seldom eat out anymore and when we do we are using cash at places that do this. Many Restaurants are going out of business because ppl can’t afford to eat out anymore. My husband and I are totally out of debt and we still guard our money. One thing I can say is this economy is making ppl realize they can’t live off of credit and they hopefully are starting to see they need to stop using credit cards. These companies are raising rates because this is the only way they can make money because ppl can’t afford to buy their good as in the past. Food prices are the only place they are making a grip on because ppl have to buy food. But these cheaper food stores are probably the ones who are making money.
So glad I got my credit card debt eliminated before the pandemic and almost completely eliminated my student loan debt. It makes the constantly uncertain nature of prices more bareable
I'm content with staycations, a day trip every other Sunday is much more affordable and better than taking out a loan.
To owe these credit cards interest rates are really not worth it just too stressful
😂😂😂 Don't carry a balance.. But ppl don't know how to maximize their dollars
Governments seem to be able to prevail, why not just follow their lead? (Obviously sarcastic)
I am starting a mortgage soon, in Switzerland. I am doing staycations: will explore villages nearby, cook three course dinner, sleep, and buy a starter painting kit.
I do something similar. Will go camping, visit some nearby cities that I haven't been to before, and go to the nearby lake.
@@churchofpos2279 precisely, there are many ways to spend holidays without breaking a bank. After working whole time, I prefer slower pace not running from point A to B or waiting in a line for everything. If I decided to travel, I will choose smaller, less known place where I can enjoy it.
If I use my credit card sometimes I will pay it off in a couple payments but most of the time I pay it off,when I make payments I will make a payment every week.
When you “pay off” a Macys card of a balance of say $100 be sure to give them more, prorated for the days of when cycle ended to day it gets to them. I’d never use that F’N card again 😡 😂
I pay off my credit card debt once per week. It’s as habitual for me as checking stock prices or doing the dishes. I don’t think I’ve ever paid a nickel of interest on a credit card and I hope I never do!
why not pay when its due and keep the money in a hysa
Doom spending I’m reading old Mad magazines from the mid 1970s- great stuff 😂
Caleb Hammer interviews all these people you’re talking about, it’s nuts!
Some of those are just scary. Taking HELOCs out to finance an only fans addiction type shit.
It is Sad and Disgusting...that ppl don't Understand ''Money' / Debt or Compound %.
It's a Slavery SYSTEM PEOPLE...
You, cannot ''Pay' a Debt with a Debt.
NO-BODY 'Owns' Anything'.
Read Your CONTRACTS...ya...the Fine Print.
'Property' (Yes You) cannot 'Own' Property.
Get it Yet?!
I have not been on vacation in 7 years 😫
sounds miserable....i get why people put them on the card.......max them things out and file chapter 7 f it.....trumps done it multiple times right
Hello from Canada. I enjoy your content very much but always get a smile out of the back ground drama the leaf blowers present.
Every other year or three we go to Italy. Even though we wouldn’t finance the trip we chose not to go this time. Went on a few road trips for a week or so at a time for not even half of what the Italy trip would have cost. Keep that powder dry. Have a great day everyone 🍻
Two of the WORST cards I ever had, were Lowes and Home Depot, followed by Williams Sonoma.
I always get 0% interest for at least one year with my Home Depot credit card.
When I opened a business, my portion was $80k. I was responsible for buying all the equipment and supplies. Spent over 50k on 3 credits cards.
Paid off the balance right away and Got over $800 in cashback bonuses.
I consider myself a financial idiot, yet see people who can’t understand basic inflation. Like they think the Dollar Tree going to $1.25 is nothing. Not if you keep going in there. And a lot are on a fixed income.
But, I even have a boss who probably thinks getting that yearly cost of living raise if 3% is something to cheer about. Not if each and everything I buy goes up and many things more than 3%! If she’s conscious at all, her advice might be to stay asleep, just like she does.
Every time I get a raise, it just reminds me how much further I’m falling behind!
Wow,!…
I pay my card in full every month
Thanks Michael!!!
'Numbers don't Lie, but you can Lie with Numbers' - my Accountant
If one tortures the data long enough, it will confess to anything.
lol
I live in Vegas. Everyday is a vacation. Except for the hellish heat (116).
As long as you don’t gamble
As long as you don't go to those expensive shows"
high crime there
👍Michael Bordenaro🌟
Thank you to our host for these walk-around outdoor presentations. My FICO score is the same as the host because I pay all credit cards to -0- before due. I have only automobile payments.
I’ve been on vacation since 2014 (retired). I do use all my C Cards, but I pay them off before statement closing. Except when Home Depot gives me 0% interest for 12-18 months.
Synchrony Bank charges close to 35% too. I don't know but that area, park or golf course looks very dry....
If he’s still in Texas, especially before the storm, it gets super hot and dry here and you’ll go broke trying to keep your grass green in the middle of the summer