Rating the Most Predatory Financial Products
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- เผยแพร่เมื่อ 2 ต.ค. 2024
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Are we the world’s biggest basketball fans? Not exactly. But we’re always game for a friendly bracket competition! Join Rachel and George for a special round of March MONEY Madness as they debate some of the worst financial products in the world.
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Instructions: Mix grapefruit juice, lime juice and club soda in a glass. Add ice. Garnish with 2-5 jalapeño slices, stir and serve.
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I’m glad you finally gave the Producers chair their own camera shot. They are always part of the conversation but only was included in a wide shot of the set. Looking forward to seeing this show live in May.
I’m 100 percent in agreement with George about the sneaker squeaking in basketball being awful.
Can’t believe Timeshares didn’t make the bracket. Seems like Ramsey went through a phase of harping on this issue.
I’ve done a HELOC to get a very bad roof replaced with a new one. I paid it off. I’m glad it was there.
George was right with the Huskies question. They are also UW Huskies in Washington.
Those aren’t the ones us NCAA fans would reference though lol
@@OopThereItIs77777 Maybe not basketball but they were just in the championship game in football.
was gonna comment the same thing haha
…and the Cougars are Washington State.
Go, Huskies! 💜💛
@@lynnwilliams3874and BYU. I thought they’d say BYU because Ramsey Solutions is super religious (like BYU).
You guys missed reverse mortgages!!!
Yeah... those are WAY more predatory than HELOCs or ARMs.
In my area, use of reverse mortgages has increased 30+% since 2020. I think that is because older folks are struggling with inflationary pressures and insufficient Social Security payments. It's an awful shame.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Payday loan for sure. It’s like living paycheck to paycheck with paychecks you haven’t even received. With 300 percent interest.
Yeah and the cherry on top is that there’s no rationalization a lender can make. It’s a product designed to put and keep poor people in a debt spiral.
Agreed. It is like the Lottery. Designed to bleed the poor
Haha. My mom never let the rest of us watch basketball because of the squeaking.
U of Washington HUSKIES, Washington State U are the Cougars. Please don't ignore the west coast! 😂
Yes but we dont play basketball in March lol
I/m surprised no one mentioned that Student Loan are *not* dischargeable in bankruptcy. In my view, tht's the biggest factor in mking them predatory. You're stuck with them for life!
I’m obsessed with them NOT KNOWING ANYTHING about college mascots😂 That was hilarious!
George at the end is hilarious! Satchel had me laughing so hard 😂
I'm surprised time share isn't on here.
YES - those are way more predatory than crypto and almost impossible to escape, trapping couples (and their money) for decades
What happened to producer Lindsey?
Oh man. I loved the JNCO phase. The pockets could carry almost anything.
Gotta say.. I miss producer Lindsey!
Where did she go? i'v been wondering
I came to the comments to see if anyone said anything. I like Skylar too but Lindsey was gone with no real explanation
@@christylee6790 Unfortunately Ramsey solutions have a track record of just getting rid of people and not saying a word about it haha. so i'm wondering if she was fired. Usually if they leave on their own they usually say goodbye.
I've been wondering where she went!!
Same !!
Ain’t no way Rachel dissing the entire sport of basketball. George w/ the Tennessee diss 😎😎 legendary.
WHERE IS LINDSEY? THE PEOPLE WANT TO KNOW!!! IS SHE COMING BACK???
I love it when Rachel said we’re BFFs. Lol so cute. It’s like watching a brother and sister bickering then getting ❤
Getting along *
P
9 1:06
Keep it up, BFFs!!!! Fantastic team. Thanks for educating and entertaining me, every single time. BEST!!
“Where do they boil things?” 😂
I particularly enjoyed this episode. I liked that you took a bunch of concepts and compared them with each other thoughtfully. Sitting at home, I had to think about the comparisons too. I would love to see you do the same for other things. I think it is a very powerful approach.
Could you do the same for investing, for example? Real estate versus REITS, individual stocks versus mutual funds, mutual funds versus ETFs, stocks versus bonds, financial investments versus gold/silver, classic cars versus paintings, cans of beans versus bags of rice (just kidding), etc.
Always a treat! My favorite part about Thursdays. Some of those match ups were tough! I lost it with the satchel 😂
Thank you for making me laugh so hard that I had tears in my eyes...George and his satchel...You two are the best! I am always learning something from you guys and you make the time so enjoyable...Thank you for sharing yourselves with us!!! ❣🐪
I would love this type of segment with Dave.
Producer Skylar went to Purdue?! Boiler Up!
This episode was so fun! I laughed a ton. Thanks for the content!!
that was a fun one, but also depressing at the same time…
Excuse my language, but Skylar is fiiiiiiiiiiine as hell!!!! 😍 Good Lord!!!!!! Keep up the good work George and Rachel! Tell Skylar I say Waddddduupppp 😭👋🏾😘😂
Pickleball uses a paddle not a racquet!
Hey guys where’s Lindsey? Is she still with Ramsey? Love the show!
Anyone else more shocked that George believes in the moon landing?😅😂
Car lease vs. crypto was the "I don't own anything but I feel like I do" matchup
To be fair, crypto is a product that you buy and physically own.
@@daltonbrasier5491No... You digitally own it, but you don't physically own anything.
You got to be kidding.........HA!.......... Go pay for your college with a credit card rate of interest.....see how that works out for you
Student loans aren’t always good, but to say they’re always bad is just flat out wrong. I would not have been able to afford to go to college had I not taken out loans. I got an engineering degree and make more than I would have, probably by a factor of three, than I would have had I gone into the trades like my family did before me. If you take 6 years get a useless degree at an out of state school, then the loans are bad. It’s about planning your future.
Watched more of the clip and it seems like she’s saying that the only people who should go to college are those who get scholarships or whose parents are rich. I just fundamentally disagree. There are tons of smart kids who grew up poor and would make great doctors, lawyers, or engineers, but cannot afford school and may not get a scholarship. Just go to your state school and finish in 4 years
People use helocs for vacation and to pay their credit cards. I'm with George on that one.
This is my favorite SMHH episode so far ❤
best dave advice from years ago
''if you don't want to get bit, don't step over the snake.''
THERE IS NO SUCH THING AS A PREDATORY FINANCIAL PRODUCT.
''no one has a gun to your head, it's all choice.''
Oversimplification. Especially if the snake is blocking the path you have to go.
They should have had partial credit for Washington
Obviously, Rachel - not knowing a thing about basketball - would win any bracket contest within her family. It’s been proven countless times in every office pool bracket competition.
I'm with Rachel... I know very little about basketball. One year, I decided to join the workplace bracket. As I was going through the colleges, I was just going by what 'sounded good', really had zero clue and I got 2nd place.
I love that Skyler is wearing a Yankees hat for a college basketball bracket! Go Yankees!
I am watching from Johannesburg, South Africa.
I thought States are "brighter then us, actually worse".
We pay our bond. I fully paid my mortgage over 15 years ago.
I have car paid up.
My daughter started college this year. For this private college. Bcs, here we got nothing from goverment. R73 000. Monthly payment is R7 300 x 10 months and the way education system is.
Kids get nothing approved until they earn an income. They either have parents paying or they don't get no education. Bcs, they can't get loan's.
The bank will give car, house, credit cards, loans ONLY AFTER THEY HAVE A JOB!!!
I think I hear Lindsey in the background laughing during the show. I miss her too. Sklar is doing a great job too. (The show was probably recorded before Princess Kate's announcement today. So sad. I pray for a speedy recovery.)
This is my favorite podcast! I love you both so much! Informative, but always entertaining!
Still waiting for Lindsey to come back!!! 😂
where'd she go?
Yea where did she go? i'v been wondering
I love you two. I laugh and learn so much. Thanks for giving me something fun to look forward to on Thursday.
I’ve seen people charge their student tuition on a credit card, which is significantly worse than taking out student loans.
SERIOUSLY!? No mention on Kate Middleton?
🚂 Boiler Up!
ARM the financing tool of the late 80s and early 90s
This is the most out of touch I’ve felt Rachel. “Payday loan” - Rachel: When you take out a loan before you get paid. Thankfully George was there to infill on a bunch of these
I enjoy watching you two so much! 😂 thank you for keeping it light!
can we get a schedule of when you two host the Ramsey show together? Only days ill watch. Yall are hilarious!
I love Georges boots, either Sharon Ramsey hand down, or ladies Boutique thriftstore.
😂
A HELOC always has an adjustable rate, while an ARM is at least fixed for 5 or 7 years. Plus HELOC rates are higher. So I would go with HELOC for the most predatory.
ARM had a huge role in 2008 crash. Why wouldn’t it be worse?
Never saw an ARM that was fixed for more than 1year . . .
@@joygarrett8397 Literally all of them are. A 5/1 ARM is fixed for the first 5 years, and a 7/1 ARM is fixed for the first 7 years.
George and the satchel story was hilarious.
Wow, didn’t know the bracket odds. the janitor at the Catholic school I used to teach at always won every year. And the pot was pretty significant 😊
Rachel, Culver's has Crinkle cut fries
Love this show. Always a laugh. Thank you guys.
My mind went straight to the movie "Hitch" when George talk about 70/30 for the opening cheers.
Washington is also the Huskies
33:31 George slammin’ PAWGS 😂 I call bs lol
Had a 7 year ARM and paid it off in 8 years. It's not always a dumb idea.
I was part of the 90’s Big Bangs trend!!! LOL! My BFF and I would try to get our bangs as high as we possibly could!
Hi Rachel you have lipstick on today ❤💋💄
Also, they’re wrong on student loans vs credit cards. Credit cards charge 22% student loans charge 4%. Even if there’s 0 ROI on the degree the interest rate makes it a no brainer
Yeah, but they give $100000+ student loans to 18 year olds. And you can't default on them and have them drop off your record. For those reasons alone student loans win.
I love this show. I listen to the podcast in the morning and have to watch the show in the evening. It’s too funny not to see the reactions.
ARM isn't "predatory," its the standard for most the world. The only reason Americans can get fixed rate mortgages is the implied backing of the US government through Fannie May and Freddie Mac. Usually rates are tied to a benchmark, so rates go up with the market, not just the bank wanting more money. Yes, the loans come with more risk, but right now that risk needs to be absorbed by someone, and right now its the US government.
Part of the 2008 international financial crisis was the end of a bunch of ARMs in the US.
The roast on Tennessee NCAA was absolutely perfect. I also said the same thing in my head 😂😂😂
I had to research payday loans and I was shocked.
George was right with Washington being the Huskies and also Washington State is also the Cougars
Excellent money advice. Y’all take financial talk and make it fun!!! How is this now the #1 podcast??!!!
I would say my wife's yoga instructor is a predatory financial product.
😂😂😂
Eric, I worry about your wife and her relationship to her yoga instructor!😂😂😂
I eagerly await the next comment!
But would he win the bracket is the question. Is he THAT predatory?
I think the championship should have gone to student loan, because the operative word was "predatory". I take that to mean, the debt product that is pushed the most and effects more of the population
No, that's just more prevalent. Predatory means/implies that all or nearly all of the consequences are negatively associated.
Student loans have and inherent underlying intention of leading to/opening/creating more opportunity.
Payday loans... with interest rates in the hundreds, targeting an already financial insecure/poor portion of the entire population... 16:40 That is, indisputably, the very essence of predatory.
Y’all are hilarious! I listen while I clean on Fridays - makes it almost fun. 😉 😂
WHERE IS LINDSEY?
I have always LOVED how people say “renting is wasting money” & own a house but they LEASE a car. You’re doing the exact same thing 😂😂 except even worse because there’s no offloading or anything
Cougars were CIU before they had a sports program.
You too are hilarious! Love this episode!!!
WAIT!!! George.... University of Mobile as in Mobile, Alabama?! I went to University of South Alabama before I moved up north and we didn't have a football team either but they do now. 😂
Hey George…where’s your varsity jacket from? Just wondering in case I too want to appear more athletic 😂
Loved this episode! So fun and informative!😊
Huskies are also Washington. George was correct University of Washington are the Huskies.
Go Rams! University of Mobile alum here also! George, we did have a futbol team aka soccer team.
Its funny the cognitive dissonance the Ramsey team has over Term Life Insurance vs Whole Life and Paying off your Mortgage vs investing the difference. George literally says to "buy term insurance and invest the difference" (18:02), but that is exactly what the argument is for NOT paying off your house. Make minimum payments on the house and invest the difference. The amount you're saving in interest on your mortgage is about the same amount as what the Whole Life policy pays -- so mathematically it's exactly the same thing.
Reality: Buying whole life insurance is terrible. And paying off your house early is also terrible.
George’s reaction to Rachel’s embarrassment at her lack of passion for conspiracy theories. Oh, my, word. 😂 and without missing a beat: “Stanley Cups!” 😭 😂
I can’t believe this channel only has 50ish subs…
This is so entertaining!!
Rachel and George are my happy hour. (Maybe that says more about my sad life than their entertainment and maybe that explains the low sub count :-/
Sorry guys.
I’m surprised. I think crypto is worse than leasing a car. Sure you could get lucky and make a lot of money with Crypto. But it’s essentially gambling no matter how you slice it.
If you have a lot of money and really want a high performance vehicle every few years, a car lease can make sense. Owning a lot of fancy high performance vehicles is a nightmare if that’s your preference. And the value of that vehicle drops like a rock. Obviously leasing an economy car doesn’t make a lot of sense. You’re better off buying an older version of that car with cash or on good loan terms of under 3 years and under 10% of your income.
I miss Lyndsie! I hope she is okay! ❤ (Skyler is great, too! 😊)
Invite Dave to an episode!
As a lover of CFA and Zaxby’s… Zaxby’s has the superior French fry.
Rally’s & Five Guys will always be tied for this honor
I don't get American football, there are so many stops during the game, there are commercials in between, and why is it called 'Foot'ball, when they use their hands. On the other hand real football (soccer) is more dynamic and is played with the feet. Another thing, why they wear so much protection in American football, can't they be tougher, like rugby players?
This episode had my face hurting from the laughing 😆 love when Linds and Skylar are cracking up and firing up Rachel’s laughs even more 😂
Is it not normal for employers to offer life insurance for their employees? I get life insurance valued at a year of my gross income from my employer with no premiums I have to pay (unless we’re adding supplemental life insurance or adding life insurance for a dependent). If that’s not normal, I have really been spoiled.
I was genuinely shocked at how many of the basketball teams I knew and y’all didn’t because I guess I think y’all know everything… oops
12 minutes in and they get to the subject matter. do people really watch this?
''bored now.'' bring back straight to the point dave.
ARM? Predatory?..bull$41t
I have sensory issues and hate the sound of the squeaking shoes on the basketball court. It makes me get anxious, my neck gets tense, and I feel very uncomfortable from the sound.