Dave is absolutely right. DO NOT go back to school for more debt. Lean into your career. Work your ass off. Apply to higher paying jobs everywhere and anywhere. You'll learn plenty along the way.
I am a math guy. When we started Dave's plan, I calculated that it would take ten months to pay off the non-mortgage debt. We did it in nine months. \{%}/
Math is one of the hardest majors you can get in college. He needs to learn to leverage the intelligence he has to do something marketable. Software engineering may be an option.
He doesn’t need to go learn software or computer science to use his math background TODAY. Math has nearly unlimited application across many different industries he could choose.
I’m a math professor at a large university and our department has a strong applied math masters, and I know a thing or two about this. An Applied math masters is a great degree and can lead to all kinds of high paying careers. Our graduates do very well overall. However - this young man has a lot of debt and I’m inclined to agree with Dave and Jade that he should probably focus on making as much money as he can right now to get his debt paid off. With his his current credentials he ought to be making more than he is right now. Later on he can get the masters if he wants. Or not. Also, if he does go into an applied math masters program there’s no reason he should have to go into debt to pay for it. There are plenty of teaching opportunities for graduate students to cash flow their way through a math masters or PhD.
Yeah if he is getting it for free/ can ta/ga his way out of payments I'd say take it but if he has to pay out of his own pocket nope via loans nope... the one thing I am not so sure about is if he could pay the final offer without loans (I think thay may be tempting imo)
YES. WORK! Grandma won't be around and then he will be paying rent. I put husband through 3 degrees as a CNA/CHHA. Worked 6 and 7 days a week the first years, he didn't take out loans right away. He had support to get his advanced degree. He can go back in two years when he's debt free or maybe 3 with a used paid off four year old car! Friend, live at Grandmas, contribute to chores around the house and yard. Live like you have less than when in school. Tell her every pay day how much you have paid off and you couldn't do it without her! She'll be gone in a blink so instead of spending money, spend time with her! When husband finished his thesis we were unemployed for four months. Learned even more! He got a job and he's been there 19 years. We moved from out of state into a 410 sq ft apartment with utilities included and no lease. Put stuff in storage. We spent a couple of years paying down debt. We haven't had a car payment since 2005, when we paid off our 4 year old car. I said I never want to have a car payment again. That car is 21.5 years old! We bought a house on bus lines to his work. Then started putting enough in to get the 401k match for 17 years. We were a one car family for 14+ years. We could afford two or nicer cars but I'd rather have money. We bought the next car with cash 21 months ago after him taking the bus or biking for years. We have got the 401k employer match for almost 17 years. We've had perfect credit scores. Get lower insurance rates. We only carry mortgage debt. With escrow it is less than renting half the space. No it wasn't exciting but we have is peace of mind! My Grandma died two months after we married. I was 23.5. Two weeks after we married we went to visit her, she passed away weeks later. He's lucky! I'd love to spend my time with her again. We're celebrating our Silver Anniversary in 11 days. I've had health challenges. I couldn't walk! I had major surgery, still recovering. I can't imagine having debt. Or paying more to rent from not paying debt down, buying and saving consistently. 17 years ago I read don't wake up in your late 40s with little saved! Best advice I ever took! I'm late 40s and health challenged! You dont know when you won't be able to work. Pay off the debt and then go back to school. Don't envy debt slaves in fancy or nicer cars. They are not an investment and envious looks won't comfort you when your health is poor, have kids! Save for retirement and don't take it out. Work now while you can, buy yourself peace of mind!
Yeah, I purposely only got an associates degree in software engineering knowing, once I was in the door, I'd be good. I have no need to get a higher degree and I learn everything I need for free from Google and TH-cam. Degrees can put you in the hole real quick.
Ramsey has become so anti-education that he can't be bothered to know about or care about the way assistantships work in advanced degree programs. I'll give him a pass on that part but it's very strange that they didn't suggest that the caller seek a job fitting his degree rather than adding gigs into the current job. Contacting the undergrad institution for help with job placement would be a start. The kid has the chops to have scored a slot in at least one master's program, so I'm guessing that he'd have success in the job market if he had some direction.
I am loving Jade's comments on Atomic Habits-- motion versus action. Motion means doing something that will not produce a result by itself. Action is the type of behavior that will get you a result.
@@jamesjazzy8040I agree with you. She never gets the whole story first. She just responds to every sentence then just buts in. She’s pretty to look at. But she needs to hush sometimes lol
The type of math that Ramsey and other financial dudes do is basic algebra, it’s more like common sense. The guy studying math is doing problems and handling math who 99% of people will never even touch. The guy is clearly lacking a plan but I hate the amount of finance people that comment on degrees which they don’t know about. This guy needs skills. With a math degree you can get a job in tech
Except graduate school is expensive inordinately, kid. And the guy has little savings and very little cash flow. You're asking a guy to dig a deeper hole to get himself out of a hole. That's a contradiction. All of that is before compounding of interest of debt kicks in. You're full of nonsens, kid.
I'm so glad I stopped at my B.S. and developed my career on work experience, instead of jumping on the "I _must_ go to graduate school" bandwagon, although it was because I simply didn't have the money to attend grad school in my early 20s ...a financial blessing now at 39. While there are definitely times when pursuing an advanced degree makes financial sense, the steep price tag on those degrees ensures many more years of call-ins to Dave's show.
Everyone told me to stay to MSC another 20 grand. I went to work instead and had virtually no student loans when I graduated. 10k while some class mates owed 80 to 100k paying for living and such. I felt so blessed but really it was seeking out advice. People told me to apply for scholarships bursaries live cheaply and I listened.
*education and wisdom. Intelligence is the ability to acquire and apply knowledge, the ability to learn, understand and deal with new things and situations. This guy does not have either of those, all he has is the ability to listen and repeat what he is told is correct. He does not understand it.
@@TRE4RAISEDME Something high paying that I could have gone directly into without bothering to go to college. But I did to to college. Luckily I dont have any debt from it. I dont really want to be more specific than that about what I do.
thats what so many did when i was at a corporate job. to bad i was to dumb to do that, but i did other things that helped my wife get her medical degrees.... there's options out there other than taking out more debt for school
That’s why a masters degree is not in my plans unless I am offered something nice to pay it off within 2 years of graduation. Not adding $60K-$80K of school debts when I have no debts of any kind.
@Planet of the Idiots it’s not… it’s just become normal for people to drown themselves in debt. But many of these jobs you can work your way up or go to community college.
I don't understand why people feel they need a masters degree. When I worked for a large company there were many people promoted internally that did not have the degree needed for the position. You know why. If you have worked with a company for 10+ years you have shown you can be reliable and adapt. These two things are more important than the degree.
You have to go to school to get the education to even obtain a lot of jobs. If someone said to you hey you just graduated, and we will offer you scholarships, a fellowship, research assistant job, and a free masters degree for two years investment, who wouldn't do it? plus you will learn graduate research skills, get to access cool archives, and study something in-depth, why would you not. its a no brainer.
@@SwissCheese112 they talk stupid on here and have nothing going for themselves. It’s good to have a business but you’re most likely not going to rich. You have to go to school, get a career that is money making and then start a business.
@@TRE4RAISEDME Agreed, working at Walmart for the vast majority Is not going to get you anywhere. Sure a few will become store managers and make a decent living, but for most, education is the only way forward. There's a reason that the two most successful ethnic groups in the west are asians and jewish people, because their families push education on them- HARD.
My dad is good at math, made a lot of money and still went bankrupt. If you're a massive pussy married to a dumb woman who doesn't work and spends money that will happen. Math skills, or any skills, are meaningless if you don't have a backbone.
I finished my Master’s back in August 2015 with $50k in student loan debt, barely making $45k gross at the time. I’m currently at $135k gross with bonus with less than $10k left on my loans. The key is to not get complacent and always keep looking for the highest bidder for your professional skills, with the intention of seeking higher pay every 3-4 years.
Just a bachelors here im at 145k base 16% bonus.. im not doing a masters ever unless its free... and idk if always chasing a dollar is smart. At a certain point in life its better to balance high income and as most FREE TIME as possible. 20k raise aint much after taxes
@@DSNCB919 I had to do Master’s because I wanted to get into the IT field, which was vastly different from Finance and Consumer Banking which I was previously in. And yes I agree, at a certain point you’d want to stop chasing money and settle, but in this current economy, I’d need to be making $200k to have a comfortable life or have my house paid off, whichever comes first.
The more I hear from Jade, the more I like her; she has been in debt recently and knows what it takes to turn things around. People can’t claim that she is out of touch which is a common aspersion thrown at DR.
@@heartbrokendraCuz he’s one of them ‘grr woke bad boo’ people. Every time these people see a black person or a woman or god forbid a black woman on screen their eyes shrivel in disgust
@@Drae2212 It sucks for the black women who do earn their accomplishments. Ironically, it's a parallel issue to the idea of white privilege and that every rich white man had it easier than everyone which is obviously also false. I judge each black woman individually just like each white man should be.
If the caller is already accepted to a prestigious master's program, he might consider asking the department chair to defer his admission for a year. If they allow it (very likely that they will), he'll have a place in the class of students starting the program in 2024.
Nah. He's like most people that get their master's degree. Graduated and didn't have an amazing job yet so status quo says go get more school. If he said "I really want to use this applied math program to be this and do that and give me opportunity for the other", then sure. We have an epidemic of people taking the easy option which is 'take out loans to get more school because I was accepted and I'm sure it'll be better in the long run'. Get out and DO
@@Gibb591yeah, unless the program you’re admitted to is high end, pausing your income in order to attend is foolish. And for the most part, a guy making what appears to be roughly $40k a year was probably not admitted to a prestigious university. There’s a reason why these STEM masters programs are full of foreign students. It’s because the chase for US immigration is the main benefit of enrolling in these programs
@@Riggy931 Agreed. Our parents never had this problem. But, if people are willing to take on infinite debt, then they should expect to be charged accordingly. Basically there needs to be a return to market forces. Cheap easy credit has been at the heart of all bubbles and busts. End federal loans. Reintroduce risk back into lending by legalizing bankruptcy on student loans (still not recommended) and this is just for starters. The way the cycle works in the US is as follows: You have people who are willing to borrow any amount for degrees that don't pay from lenders who are protected from risk in lending to help the borrower pay a school only too willing to offer and charge more in the face of it all. If this isn't broken, expect it to get worse.
@@billmelater6470 Whose parents? My dad graduated with debt in the 70s and when you adjust his debt for inflation it was comparable to the amount I borrowed when I went to school. The idea that education debt wasn't a thing until yesterday is fantasy. You're right on the second part though. Get the federal government out of the business. That's how you probably bring prices down.
@@BTrain-is8ch I never said that education debt was new but I will say that the scale of debt is unprecedented. What I said was that school was cheaper (i.e., average cost per semester). It's funny how often the government sets out to make things "cheaper" or should I say "more accessible" and then a price spike follows.
It’s all about choices…If you’re short on money, work and go to junior college..Then work and go to college. Skip the spring break and other vacations.
@@thorneto2742 You're right. I'm taking ordinary differential equations this semester and we're focusing on first order ODE's, initial and boundary value problems, Laplace Transforms etc. Finances and arithmetic are not on the list 🤣.
@@Primitive_Code yep, when I left university I could find representations of Lie algebras and solve lebesgue integrals but I didn’t know squat about budgeting lol
I'm a highschool drop out, looking to finish schooling now, and go to college to get a cfa. In my 20's making 40k a year at 1 of my jobs and 10-12k a year at my 2nd job... in the next 10 years I want to finish school. Be making 60k a year and still have my 2nd job.. I am native thankfully and they will pay for all of my school
@@jacksonbilly9979 It's free money wise...but it costs you the most valuable resource: time. Teach yourself to code or another high value skill. Much faster...
Most pure sciences require an advanced degree before you can start making any real money. A physics or biology major can only make about 40k max working in that field with a bachelor's degree. Same with math and chemistry. Engineering is more of an applied science than pure science, so most engineering degrees can come out making nearly 6 figures if not more after just a bachelor's. That's why it's really dumb to spend money in an ivy league school for undergrad in a degree that will still require an advanced degree.
Dave always says don’t worry about dying from working hard right before you die you pass out. Exhaustion and death from extreme fatigue is a real thing. I know of 2 people that died from being over worked. These people were in the medical field and the people around them should have known better to look out for the signs but they were overworked too so they missed it. Try doing double 36 hr shifts with intense workload and tell me how you feel afterwards.
Exactly! He can work in high finance, banking, logistics, business or public finance… the applications are endless. Pick an industry you like and go to town.
If you have a math degree you should be making 6 figures minimum. You can make $2600 a month take home pay with no degree at an entry level job right now. This guy needs to start job hunting, because he is vastly underpaid relative to his degree.
He should work for a landscaping company on the side. My sons are 23 and 21. They are both working full time jobs while in trade schools, and doing landscaping part time. Both are bringing in over a thousand per week cutting grass, mulching, weed whacking, etc. This is hard work but worth the money and great for character building that follows. Find a reputable landscaping company, they can’t keep up with the properties and need all the employees they can get!
I completed my masters for $10k - that is the total program cost at my local private university, paid cash!! Wait a few yrs & if you still want to go then research affordable universities!!!!
Join the military reserve or National Guard and get a bonus and allow them to pay for your masters program. Also, they'll pay off 20k of your student loan. Stop looking for an easy route, it's not out there.
That is not the point. Yes, you can do that but the guy called asking for how best to pay off his debt. The answer they provided is cut off all unnecessary economic activity until the debt is paid off. That is not done while paying for a masters simultaneously.
@appleforever6664 no I understand the point perfectly. You are the one who had this video go over your head. In the baby steps model there is no deferring until later to get a degree. You pay off the debt by working first and then you cash flow future expenses. The guy called asking for advice and they gave him a baby steps counsel. Your comment about going to grad school andcworking at the same time does not fit into this equation. You missed the mark.
@@alrbredwall To me it sounded like the guy was trying to say he would get the master's degree for free... but Dave and Jade kept cutting him off. If that is the case, then IMO it is 100% worth it to delay paying off debt for another year or two to get a free master's degree. If the Master's degree is NOT FREE then I agree that he needs to not go in further debt and he should work like crazy to pay off his current debt.
If he's going to study further Applied Math it needs to be in an in-demand area - e.g. Statistics (many jobs at hospitals, finance companies, software companies) or Actuarial Science (insurance companies) or to a less degree Cryptology. Even better if the degree says "Statistics" or "Actuarial Science" instead of just "Applied Math".
Love Dave, but this advice for this caller aint smart! Dave's advice is not for the smart people who are wasteful with money..but for the general populace who are typically broke. My brother was in same situation as this guy years ago.....got his Applied Maths masters degree and 1st job out paid him $150k in biostatistics, then 10yrs later he is a VP at one of the big NY investment banking firms. With a BS in Maths, the best he could have got is being a teacher (which he will even need more education to get his teaching credentials - to then make $50k). A 23yr old can sacrifice a little with debt to move up. I would agree with Dave if he was getting an MS degree in music or basket weaving. The other day Daves daughter suggested that a medical student work while in med school to not get debt (dumbest advice ever - I'm a physician - most important thing is med school is education).
@jamiu22 I thought you're not allowed to work while you're in medical school? I would like to go into a sonography program but it's full time for 16 months and I can only think of working during the evening but I'm very afraid I wouldn't do well in the program with a full time job and no real rest.
@@qwertykaitlyn yeah, it is highly discouraged - and some schools will flat out forbid you from working while in med-school. No matter how smart you are, you need to spend approx 80hrs studying outside of class, so making it almost impossible to work if you wanted to. I dabbled in day trading during my 1st yr in med school - did well - but quit that as soon as I realized the added stress to my already stressful educational workload, also realizing that it won't benefit my future patients, spending time away from the focus of the 4yr intense learning. Congrats on sonographer school, it's great education. If you can avoid working for those 16months, it'll be tough - but its part of practicing delayed gratification, which will also serve you well later on in life 😉.
He needs a job that's meant for applied math. $35K in tech support sounds like 1 step away from a call center where they're telling callers to restart their computers. Some of Applied Math options I think he should look at are. 1. Financial Analyst. 2. Research Analyst. 3. General Data Analyst such as healthcare, operation, reporting specialist, business analysts, etc.. 4. Actuarial Roles or analytical role within insurance that will sponsor Actuarial Exams.
Omg so much school debt 😢, everytime he mentioned it my heart sunk. I'm looking for a math tutor so he should definitely teach math to students. I really hope he gets aggressive with paying this debt off and now especially when the interest is at a stand still. Cut out even going out , eating out, no dating and no splurging on anything.
I worked a full- time job at an insurance company as an underwriting assistant. I took an accounting class during my lunch hour that the company paid for. I worked Saturdays and Sundays as a security guard for a computer company- easy money and I would study and read when I wasn’t doing rounds. I didn’t like business though and was very lost in my early 20s. Then I got a full time job at a university, They gave me 6 credits for free a semester. I t took me 7 years to get my degree. I had 3 semesters if uni when I got my degree. My mom died sadly, but with some money I finished paying off my student loans fairly early. I got my degree (from Boston University). In 2007 I moved to Taipei, Taiwan and even without a teaching degree, i could make $25-30 USD teaching part- time (and full time fir a year). There are TONS of opportunities to make good money here/ all you need is a bs/ba. Math tutors easily make at least $30 usd per hour here. Easily
I know a guy who is a MD and not working as an MD and wants to go back to college for another degree. He’s over $450k in debt and just wants to keep going to college. The feds should be able block people from going into more debt for degrees once they hit a certain amount of debt.
The good thing in all of this is, he is 23 years old and he lives with his grandmother. So he needs to get a couple of jobs or hustles to get the loan down, this can be gone in no time if he stays focus.
When you get to upper management in my company they pay for your masters degree. My plan was always to work to get there first and then do my masters. I probably won’t be able to until I’m 30 but I’ll be debt free!
This guy may never read my comment but if he does, and needs a job that can pay more and has a degree in math, he may want to consider insurance (with a Mutual firm or good public). Utilize the math degree to get into Underwriting OR - use it to get into a reputable insurer and get on the Actuarial track. Can be Health, but ancillary lines (Life, Dis, Dental, etc.) can pay. You will use elements of that background to understanding the various formulas in a variety of ways - especially when it comes to predictability, incidence, severity, forecasting, etc. Let alone basic premium formulas. It will not be a stretch to build on certain concepts of the math of insurance with that background. If you show well, and prove it, starting at some Mutual firms may be 50k. And a lot of opportunities now can be remote. I agree with working your butt off but I think there's an opportunity to lean in on what he invested in with his education to work more THERE and make more with it. THEN if you want to do school later, there are programs with the companies that will fund 100% or the majority of it and if it's actuarial there are specific actuarial courses they will fund you to take. Let alone designations like LOMA, CLU, etc. So... again, random guy on the internet but a math degree can be an incredible baseline - think more outside the box and look into carriers (NOT brokers) like MetLife, Guardian, Prudential, Sun, etc. See it all the time. UW - UW Management -UW Leadership. Or UW - Jr. Actuarial - Actuary (Product) - Actuarial Leadership. Or UW - Prod. Management - Leadership, so on and so on. Even UW - Sr. UW - Portfolio UW (130k+).Have a plan.
I say this to people all the time. It's like they think a degree with save them somehow when in reality if he took his experience from his job now and get a higher paying job. You don't need a degree for that right now. If the other job wants his experience they will pay for further education.
This is what got them in this mess in the first place - they thought an expensive degree was their "golden ticket" to an easy life and high-paying job, and reality comes after they graduate.
My concern is that the caller isn't going to listen to their advice because they didn't listen to him and kept cutting him off when he was trying to explain "the one thing I'm concerned about...." Since they didn't let him express his one big concern, he's going to feel like they didn't have the whole picture so in his mind, their advice isn't on point. They should have let him speak, explained why his one big concern isn't a thing, and they could have countered it with wisdom. THEN he might haven't taken their advice. As it is, they lost him because they didn't listen.
Dave always says that many of the married couples do not have money problems but they have marital problems that they need to fix and he is correct. I wonder if we need to look at some of these younger callers and ask if there are emotional social and behavioral issues that are masking or showing up as money problems.
I don't need a master degree, I need a job. But the job I want requires a master degree and a profound research profile which I don't have yet and can't do without going to university again.
Dave told him if u study math u should of learn Compound interest… they don’t want people learning that in school ..that’s how to know how ur money grows
To me, and I'm saying this from experience, it sounds like he has Asperger's. I should know because I do. Sometimes it's just hard to start down the right path. His main focus is math in most people, be included, with Asperger's, they're great at math because they can focus on one thing really well. that is probably why he wants to continue studying math. You could become a teacher perhaps and make a crap load of money teaching math at college
Interesting, I’m now watching this video a year after having gotten my master’s degree. I did get near full funding for my degree through the university so I didn’t put myself in debt for it but I will say there’s a 40k difference in salary between the job I had before my masters and the job I have now post-masters. It may be worth considering depending on your field! And it’ll help if you ever want to get your PhD someday if it’s a Master of Science.
I was also able to get funding for grad school, which allowed me to enter the field in a higher paying position. Approaching retirement now, and I'm thankful for that salary jump start.
This is what I was also thinking....it sometimes takes money to make money, and nowadays, and it's REALLY hard to find a decent paying job without having a master's degree.
what is it with people who live with grandma,my dad sat me down 2 weeks after high school graduation & said you can stay for 6 more month's then you have to leave so you might as well join the military so i did.
This young man, in fact every young man needs to work 60 hours per week at a minimum. 80 hours is preferred. He's never done it, and he's afraid of it. That's his problem.
I think this kid needs to go ahead with that master's degree. Most pure sciences don't make any real money with just a bachelor's degree. That's why biology majors can't operate on patients, and will still need to go to med school to become doctors. For those in pure science, never expect to make good income with just a bachelor's. This is the one field where additional letters at the end of your title makes people write bigger checks.
As long as his master's is in a job-relevant area of Math. Same with biology majors - a masters in Biology won't help much. But a master's in Anesthesia Assistant Studies would. His master's should be in: Statistics, Actuarial Science, Financial Engineering, Cryptology, or Bioinformatics. But a general Applied Math master's degree will barely help same as a general Master's in Biology.
He's smart, really smart. He should have the mind of never paying for school check with every company and grant and school to see if you can get your masters or whatever for free.
Paying off $80k in debt over two years sounds great! How are you going to double your income to do that? Finding a career that will pay you that much. Side hustle with your current credentials? That's a lot of delivering pizzas and driving for Uber. You're a math major so you know how to learn. Negotiate your way into a better position/company even if that means you need to earn your Master's Degree first to get there. Good luck!
A math masters is good investment.... I know plenty of quantitative strategists at finance companies making crazy money.... Just the yearly bonus from those jobs could clear out his debt in a year or two
@@davidharman7245 The 'System' is too 'Compartamentalized'. A 'degree' in Math should also include basic application of mathematics for basic Construction Engineering and Economics. I personally feel that learning How 'Money' and Interest on 'Debt' operate 'Mathamatically' in our Debt Based Gov't. system should be a HIGH SCHOOL requirement.
There is a psychological disconnect between basic math and managing money. It's what has allowed Dave Ramsey to profit 300 million dollars a year in his business Ramsey Soulutions.
Many of us in the math world are too focused on proving theorems, analyzing math concepts and coding sometimes. Many people including myself weren't even required to take financial math because it's a lower level course and you can test out of it. I agree with you though that financial math and math for the trades should be a requirement in high school. Instead, the smart kids take AP Trig or AP calculus.
He probably does understand personal finance, but the reality is a degree in math is pretty hard to market because it's not applied like with an engineering degree; it's more theoretical. His choices are likely academia, which will require a PhD for "reasons", or he can head to Wall St. and get picked up by a hedge fund to run whatever investing fad comes up next.
Guy needs to think for himself. A Masters of Applied Mathmatics is not the same as a business or music diploma. Do some industry research, see what the salary boons are v.s your 4 year degree and swing for it if it means you earn 40% or more over the course of the next two or three decades. Its not debt, its investing in yourself.
Inside Edition just posted a video about a bunch of people getting scammed 10 million dollars investing in gold. A company called regal assets. Please do a video on that. Help warn people not to invest in something stupid like that
It really depends on the offer. he's not in a good financial situation right now, but the degree could be what he needs to pivot careers. Granted, I don't know exactly why he's doing the degree since the bachelor's and master's seem so similar, but clearly booksmarts is where the guy shines in. The guy could be getting into a more engineering-related career line. And if he stays in the role that he is in now, he is putting off plans for a career transition, if that's the purpose of the master's degree. It really depends on what degree, and where it's going to be in, and the total cost.
This is quite sad. I'm a college student who has less than 6000 dollars in debt. I'm joining an accelerated program in January and should acquire my Bachelor's degree by the end of 2024. The goal is to have less than 10,000 dollars worth of debt. I'm not going back to get my Master's degree--I’m finished with school. In my opinion, the school system is a scam.
My favorite part was when Dave Ramsey pulled a loaded gun from under the table and waved it around and went on a rant about "harlots" getting "knocked up out of God's holy wedlock". It brought a tear to my eye. Dave Ramsey is definitely one of the Financial TH-camrs of all time.
I come from a poor contry where we pay our university OURSELVES every month by working while studying. I can't understand why people in USA have such a hard time to pay their student loans, like get a job and stop waiting someone will pay that for you.
Wow bout time somebody told somebody to stop going to school and get your debt back under control. He has enough school already, pay your student debt off and quit waiting for somebody to pay it for you.
He should get either get a teaching job and or tutor students. It is so bad that kids go to college, learn good stuff, but are so ignorant to their potentials.
Dave is absolutely right. DO NOT go back to school for more debt. Lean into your career. Work your ass off. Apply to higher paying jobs everywhere and anywhere. You'll learn plenty along the way.
For more department?
@@amireallythatgrumpy6508 I think he meant debt
@@amireallythatgrumpy6508 Username checks out.
Dept as in department store? Lol
We all know people like this, they more into school than actually getting the job and making money
He should be a math tutor for extra money. That can be high paying.
Omg I said the same!
He can’t figure it out on his own!! He even considered continuing master degree!!!! Facepalm.
well I don't know.... if he can't get a decent paying job after 48k in loans, he may not have learned any math.
Not everyone who is good at math is also good at teaching math to people he doesn't relate with
@@jomontanee He would rather be a career student.
You’re not going to die from overwork. Right before you die you pass out 😂😂 i love this quote
I am a math guy. When we started Dave's plan, I calculated that it would take ten months to pay off the non-mortgage debt. We did it in nine months. \{%}/
Noice. Live like Noone else so you can live and spend and give like Noone else
So you're saying you messed up in your calculations? 😜
Jokes aside, congrats on getting rid of your debt!
happy to have a wrong calculation this time
🎉
Amazing
Math is one of the hardest majors you can get in college. He needs to learn to leverage the intelligence he has to do something marketable. Software engineering may be an option.
Math is a marketable skill
It’s rough for us SE
or data analytics or actuary... also high paying jobs
He doesn’t need to go learn software or computer science to use his math background TODAY. Math has nearly unlimited application across many different industries he could choose.
Those entry level software engineering positions have been outsourced. He should look into insurance or actuary related subjects
I’m a math professor at a large university and our department has a strong applied math masters, and I know a thing or two about this. An Applied math masters is a great degree and can lead to all kinds of high paying careers. Our graduates do very well overall. However - this young man has a lot of debt and I’m inclined to agree with Dave and Jade that he should probably focus on making as much money as he can right now to get his debt paid off. With his his current credentials he ought to be making more than he is right now. Later on he can get the masters if he wants. Or not. Also, if he does go into an applied math masters program there’s no reason he should have to go into debt to pay for it. There are plenty of teaching opportunities for graduate students to cash flow their way through a math masters or PhD.
Yeah if he is getting it for free/ can ta/ga his way out of payments I'd say take it but if he has to pay out of his own pocket nope via loans nope... the one thing I am not so sure about is if he could pay the final offer without loans (I think thay may be tempting imo)
and he can find a job and they pay for it or part of it;
YES. WORK! Grandma won't be around and then he will be paying rent. I put husband through 3 degrees as a CNA/CHHA. Worked 6 and 7 days a week the first years, he didn't take out loans right away. He had support to get his advanced degree. He can go back in two years when he's debt free or maybe 3 with a used paid off four year old car! Friend, live at Grandmas, contribute to chores around the house and yard. Live like you have less than when in school. Tell her every pay day how much you have paid off and you couldn't do it without her! She'll be gone in a blink so instead of spending money, spend time with her!
When husband finished his thesis we were unemployed for four months. Learned even more! He got a job and he's been there 19 years. We moved from out of state into a 410 sq ft apartment with utilities included and no lease. Put stuff in storage.
We spent a couple of years paying down debt. We haven't had a car payment since 2005, when we paid off our 4 year old car. I said I never want to have a car payment again. That car is 21.5 years old!
We bought a house on bus lines to his work. Then started putting enough in to get the 401k match for 17 years.
We were a one car family for 14+ years. We could afford two or nicer cars but I'd rather have money. We bought the next car with cash 21 months ago after him taking the bus or biking for years. We have got the 401k employer match for almost 17 years. We've had perfect credit scores. Get lower insurance rates. We only carry mortgage debt. With escrow it is less than renting half the space.
No it wasn't exciting but we have is peace of mind!
My Grandma died two months after we married. I was 23.5. Two weeks after we married we went to visit her, she passed away weeks later. He's lucky! I'd love to spend my time with her again. We're celebrating our Silver Anniversary in 11 days. I've had health challenges. I couldn't walk! I had major surgery, still recovering. I can't imagine having debt. Or paying more to rent from not paying debt down, buying and saving consistently.
17 years ago I read don't wake up in your late 40s with little saved! Best advice I ever took! I'm late 40s and health challenged! You dont know when you won't be able to work. Pay off the debt and then go back to school. Don't envy debt slaves in fancy or nicer cars. They are not an investment and envious looks won't comfort you when your health is poor, have kids! Save for retirement and don't take it out. Work now while you can, buy yourself peace of mind!
Yeah, I purposely only got an associates degree in software engineering knowing, once I was in the door, I'd be good. I have no need to get a higher degree and I learn everything I need for free from Google and TH-cam. Degrees can put you in the hole real quick.
Ramsey has become so anti-education that he can't be bothered to know about or care about the way assistantships work in advanced degree programs. I'll give him a pass on that part but it's very strange that they didn't suggest that the caller seek a job fitting his degree rather than adding gigs into the current job. Contacting the undergrad institution for help with job placement would be a start. The kid has the chops to have scored a slot in at least one master's program, so I'm guessing that he'd have success in the job market if he had some direction.
That's why I love Dave. He doesn't pull his punches. He tells you the truth with love in his heart because that is what's best for you.
They say the truth hurts. But better to tell them the truth then lie.
I am loving Jade's comments on Atomic Habits-- motion versus action. Motion means doing something that will not produce a result by itself. Action is the type of behavior that will get you a result.
I'm not... she's ruining the whole show she talks way way too much.. I actually stopped watching the show because of her...
@@jamesjazzy8040but here you are watching lol
@@jamesjazzy8040I agree with you. She never gets the whole story first. She just responds to every sentence then just buts in. She’s pretty to look at. But she needs to hush sometimes lol
Just because you know math, does not mean you will apply it.
And his degree was in Applied math
Just because you went to college doesn’t mean you have a high IQ
The type of math that Ramsey and other financial dudes do is basic algebra, it’s more like common sense. The guy studying math is doing problems and handling math who 99% of people will never even touch. The guy is clearly lacking a plan but I hate the amount of finance people that comment on degrees which they don’t know about. This guy needs skills. With a math degree you can get a job in tech
True
Math degree is completely different from financial math obviously.
Applied math is the best option. I'm a math major myself and know this because it leans into computer science. There are a lot of opportunities.
Yes!😊
Except graduate school is expensive inordinately, kid. And the guy has little savings and very little cash flow. You're asking a guy to dig a deeper hole to get himself out of a hole. That's a contradiction. All of that is before compounding of interest of debt kicks in. You're full of nonsens, kid.
I'm so glad I stopped at my B.S. and developed my career on work experience, instead of jumping on the "I _must_ go to graduate school" bandwagon, although it was because I simply didn't have the money to attend grad school in my early 20s ...a financial blessing now at 39. While there are definitely times when pursuing an advanced degree makes financial sense, the steep price tag on those degrees ensures many more years of call-ins to Dave's show.
Everyone told me to stay to MSC another 20 grand. I went to work instead and had virtually no student loans when I graduated. 10k while some class mates owed 80 to 100k paying for living and such. I felt so blessed but really it was seeking out advice. People told me to apply for scholarships bursaries live cheaply and I listened.
I went back at 36 and saved a thousand each semester and paid cash.
@@Whiskey_Jane Nice!
This guy is a great illustration of the difference between intelligence and wisdom.
What about this caller showed you either trait?
AMEN!!
or ignorance.
*education and wisdom.
Intelligence is the ability to acquire and apply knowledge, the ability to learn, understand and deal with new things and situations.
This guy does not have either of those, all he has is the ability to listen and repeat what he is told is correct. He does not understand it.
Neither of which exist in America.
I love how this dude is even considering going back to school. Like hiding in the sand...
The fact that he is considering it is very telling. He hasn't come to terms with his problem.
What do you do for work?
@@TRE4RAISEDME Something high paying that I could have gone directly into without bothering to go to college. But I did to to college. Luckily I dont have any debt from it. I dont really want to be more specific than that about what I do.
@@nychris2258 like what? What do you do?
The right way is to work while getting your employer to pay for a master's, doing 1-2 classes per term
thats what so many did when i was at a corporate job. to bad i was to dumb to do that, but i did other things that helped my wife get her medical degrees....
there's options out there other than taking out more debt for school
Guy: "how do I pay off debt?"
Dave: Work and make payments until it's gone"
Guy: "waaaaaaaaah?"
the flip side is they have financial problems and the DR team always says make more money... I'm sure most people have considered that.
You'd be surprised about what hearing that from an "expert" can do to a person
Someone call the whaaaambulence
is that really that hard to comprehend???
Marry a rich old woman.
"I dont care if you're cleaning septic tanks or walking dogs" I love that part!
Dave is good friends with Mike Rowe (dirty jobs) :)
Over 60K in student loans to land a 30K job. Terrific
That's how it's done
That’s why a masters degree is not in my plans unless I am offered something nice to pay it off within 2 years of graduation. Not adding $60K-$80K of school debts when I have no debts of any kind.
@Planet of the Idiots it’s not… it’s just become normal for people to drown themselves in debt. But many of these jobs you can work your way up or go to community college.
That's a -50% ROI. It's a win cuz my dude is a professional student.
And all the opportunity cost in lost time.
I don't understand why people feel they need a masters degree. When I worked for a large company there were many people promoted internally that did not have the degree needed for the position. You know why. If you have worked with a company for 10+ years you have shown you can be reliable and adapt. These two things are more important than the degree.
Professional students gotta love them.
Voting for Biden's handouts...
What do you do for work and how much do you make?
You have to go to school to get the education to even obtain a lot of jobs.
If someone said to you hey you just graduated, and we will offer you scholarships, a fellowship, research assistant job, and a free masters degree for two years investment, who wouldn't do it? plus you will learn graduate research skills, get to access cool archives, and study something in-depth, why would you not. its a no brainer.
@@SwissCheese112 they talk stupid on here and have nothing going for themselves. It’s good to have a business but you’re most likely not going to rich. You have to go to school, get a career that is money making and then start a business.
@@TRE4RAISEDME Agreed, working at Walmart for the vast majority Is not going to get you anywhere. Sure a few will become store managers and make a decent living, but for most, education is the only way forward.
There's a reason that the two most successful ethnic groups in the west are asians and jewish people, because their families push education on them- HARD.
It's just mind boggling how someone with a degree in MATH can't manage his finances very well.
He's a kid. They lied to him and said he needed that piece of paper and his life would be complete
It's 80% behavior 20% knowledge
Just like the builder who never finishes renovating his house ....or the cleaner who lives in a pig sty same same
My dad is good at math, made a lot of money and still went bankrupt. If you're a massive pussy married to a dumb woman who doesn't work and spends money that will happen. Math skills, or any skills, are meaningless if you don't have a backbone.
Apples and Oranges
I finished my Master’s back in August 2015 with $50k in student loan debt, barely making $45k gross at the time. I’m currently at $135k gross with bonus with less than $10k left on my loans. The key is to not get complacent and always keep looking for the highest bidder for your professional skills, with the intention of seeking higher pay every 3-4 years.
Great job!
Just a bachelors here im at 145k base 16% bonus.. im not doing a masters ever unless its free... and idk if always chasing a dollar is smart. At a certain point in life its better to balance high income and as most FREE TIME as possible. 20k raise aint much after taxes
@@DSNCB919 I had to do Master’s because I wanted to get into the IT field, which was vastly different from Finance and Consumer Banking which I was previously in. And yes I agree, at a certain point you’d want to stop chasing money and settle, but in this current economy, I’d need to be making $200k to have a comfortable life or have my house paid off, whichever comes first.
@@DSNCB919what do you do for work?
The more I hear from Jade, the more I like her; she has been in debt recently and knows what it takes to turn things around. People can’t claim that she is out of touch which is a common aspersion thrown at DR.
I’m a Dave Stan but jade is my 2nd fav
Not gonna lie, my first thought with her was “diversity hire”, but she seems to be better at actually hosting and handling these questions than others
@@hornetguy9063 Why was that your first thought...
@@heartbrokendraCuz he’s one of them ‘grr woke bad boo’ people. Every time these people see a black person or a woman or god forbid a black woman on screen their eyes shrivel in disgust
@@Drae2212 It sucks for the black women who do earn their accomplishments. Ironically, it's a parallel issue to the idea of white privilege and that every rich white man had it easier than everyone which is obviously also false. I judge each black woman individually just like each white man should be.
If the caller is already accepted to a prestigious master's program, he might consider asking the department chair to defer his admission for a year. If they allow it (very likely that they will), he'll have a place in the class of students starting the program in 2024.
Nah. He's like most people that get their master's degree. Graduated and didn't have an amazing job yet so status quo says go get more school. If he said "I really want to use this applied math program to be this and do that and give me opportunity for the other", then sure. We have an epidemic of people taking the easy option which is 'take out loans to get more school because I was accepted and I'm sure it'll be better in the long run'. Get out and DO
He can get masters in 2 years with no debt.
@@Gibb591yeah, unless the program you’re admitted to is high end, pausing your income in order to attend is foolish. And for the most part, a guy making what appears to be roughly $40k a year was probably not admitted to a prestigious university.
There’s a reason why these STEM masters programs are full of foreign students. It’s because the chase for US immigration is the main benefit of enrolling in these programs
Everyone: " Student debt is a huge problem and people can't make enough to pay it off."
Everyone: *Continues to do it year after year.
Maybe school should be cheaper? Like it used to be in the US and still is almost everywhere else.
@@Riggy931 Agreed. Our parents never had this problem. But, if people are willing to take on infinite debt, then they should expect to be charged accordingly.
Basically there needs to be a return to market forces. Cheap easy credit has been at the heart of all bubbles and busts. End federal loans. Reintroduce risk back into lending by legalizing bankruptcy on student loans (still not recommended) and this is just for starters.
The way the cycle works in the US is as follows: You have people who are willing to borrow any amount for degrees that don't pay from lenders who are protected from risk in lending to help the borrower pay a school only too willing to offer and charge more in the face of it all. If this isn't broken, expect it to get worse.
@@billmelater6470 Whose parents? My dad graduated with debt in the 70s and when you adjust his debt for inflation it was comparable to the amount I borrowed when I went to school. The idea that education debt wasn't a thing until yesterday is fantasy.
You're right on the second part though. Get the federal government out of the business. That's how you probably bring prices down.
@@BTrain-is8ch I never said that education debt was new but I will say that the scale of debt is unprecedented. What I said was that school was cheaper (i.e., average cost per semester).
It's funny how often the government sets out to make things "cheaper" or should I say "more accessible" and then a price spike follows.
It’s all about choices…If you’re short on money, work and go to junior college..Then work and go to college. Skip the spring break and other vacations.
Degree in Math ... yet can't do math.
Solving differential equations and proving theorems doesn’t really help you with finances
@@thorneto2742 You're right. I'm taking ordinary differential equations this semester and we're focusing on first order ODE's, initial and boundary value problems, Laplace Transforms etc. Finances and arithmetic are not on the list 🤣.
@@Primitive_Code yep, when I left university I could find representations of Lie algebras and solve lebesgue integrals but I didn’t know squat about budgeting lol
@@Primitive_Code Don't they offer financial mathematics or something like that?
@@chocolateangel8743 They do. Math majors also learn programming. Math majors can be good software engineers. A solid career path.
He spent 4 years and $60,000 in debt to get a job that pays $30k?
Yup!
I'm a highschool drop out, looking to finish schooling now, and go to college to get a cfa. In my 20's making 40k a year at 1 of my jobs and 10-12k a year at my 2nd job... in the next 10 years I want to finish school. Be making 60k a year and still have my 2nd job.. I am native thankfully and they will pay for all of my school
@@jacksonbilly9979 It's free money wise...but it costs you the most valuable resource: time. Teach yourself to code or another high value skill. Much faster...
Most pure sciences require an advanced degree before you can start making any real money. A physics or biology major can only make about 40k max working in that field with a bachelor's degree. Same with math and chemistry. Engineering is more of an applied science than pure science, so most engineering degrees can come out making nearly 6 figures if not more after just a bachelor's. That's why it's really dumb to spend money in an ivy league school for undergrad in a degree that will still require an advanced degree.
With a bachelors in math he could easily get a job that pays better than 30k… assuming he actually learned math well while in school.
Dave always says don’t worry about dying from working hard right before you die you pass out. Exhaustion and death from extreme fatigue is a real thing. I know of 2 people that died from being over worked. These people were in the medical field and the people around them should have known better to look out for the signs but they were overworked too so they missed it. Try doing double 36 hr shifts with intense workload and tell me how you feel afterwards.
Come on man ! The guy is 23 ! Not 63 . He'll be OK . They gave him solid advice . Don't run cover for the guy !!
I worked 1 full-time time and a part-time job for a year to help me off my student loan in my 20s. It’s tiring but doable.
Ouch
Paying off 43k in 2 years is easier said than done especially in his situation
impossible
caller: lists several sources adding up to tens of thousands of dollars in debt
dave: what'd you get your degree in?
caller: math
dave: math?
Another person spending so much time "preparing" to be successful.
As a math major I need to say that this guy needs to go to the field where he can earn 100k/year and acctualy use a little bit of his degree :).
Exactly! He can work in high finance, banking, logistics, business or public finance… the applications are endless. Pick an industry you like and go to town.
Ive started to notice that people go back to school for the mere feeling of having a purpose in life. Which is sad.
Well to be fair, most people find their career lacking purpose.
@@jmorris023 that's different, they are working and getting paid in return. School is for kids, it's not the real world.
If you have a math degree you should be making 6 figures minimum. You can make $2600 a month take home pay with no degree at an entry level job right now. This guy needs to start job hunting, because he is vastly underpaid relative to his degree.
Dave's reaction to him having THAT much school debt for a Math degree nearly took me out 😅😂🤣
I watch a good amount of these clips. Jade is a star and is a huge asset to the show.
People here are all over the place with their opinions about this woman from pure hate to marriage proposals.
Yes. She is the real deal.
This guy majored in O'Bama math...
He should work for a landscaping company on the side. My sons are 23 and 21. They are both working full time jobs while in trade schools, and doing landscaping part time. Both are bringing in over a thousand per week cutting grass, mulching, weed whacking, etc. This is hard work but worth the money and great for character building that follows. Find a reputable landscaping company, they can’t keep up with the properties and need all the employees they can get!
Sometimes the truth hurts and is challenging. But it's also so helpful.
I completed my masters for $10k - that is the total program cost at my local private university, paid cash!! Wait a few yrs & if you still want to go then research affordable universities!!!!
Join the military reserve or National Guard and get a bonus and allow them to pay for your masters program. Also, they'll pay off 20k of your student loan. Stop looking for an easy route, it's not out there.
Yes. You can get a job and go for your Masters at the same time! I did it!
That is not the point. Yes, you can do that but the guy called asking for how best to pay off his debt. The answer they provided is cut off all unnecessary economic activity until the debt is paid off. That is not done while paying for a masters simultaneously.
@@alrbredwall - Your missing the point. Defer the loans to obtain the Master Degree so the caller can increase his income.
@appleforever6664 no I understand the point perfectly. You are the one who had this video go over your head. In the baby steps model there is no deferring until later to get a degree. You pay off the debt by working first and then you cash flow future expenses. The guy called asking for advice and they gave him a baby steps counsel. Your comment about going to grad school andcworking at the same time does not fit into this equation. You missed the mark.
@@alrbredwall To me it sounded like the guy was trying to say he would get the master's degree for free... but Dave and Jade kept cutting him off. If that is the case, then IMO it is 100% worth it to delay paying off debt for another year or two to get a free master's degree.
If the Master's degree is NOT FREE then I agree that he needs to not go in further debt and he should work like crazy to pay off his current debt.
@@alrbredwall - 🤡
If he's going to study further Applied Math it needs to be in an in-demand area - e.g. Statistics (many jobs at hospitals, finance companies, software companies) or Actuarial Science (insurance companies) or to a less degree Cryptology. Even better if the degree says "Statistics" or "Actuarial Science" instead of just "Applied Math".
Dude is lazy. He’s trying to find 100 ways to pay off debt EXCEPT to get a job.
he already has a job...
Love Dave, but this advice for this caller aint smart! Dave's advice is not for the smart people who are wasteful with money..but for the general populace who are typically broke. My brother was in same situation as this guy years ago.....got his Applied Maths masters degree and 1st job out paid him $150k in biostatistics, then 10yrs later he is a VP at one of the big NY investment banking firms. With a BS in Maths, the best he could have got is being a teacher (which he will even need more education to get his teaching credentials - to then make $50k).
A 23yr old can sacrifice a little with debt to move up. I would agree with Dave if he was getting an MS degree in music or basket weaving. The other day Daves daughter suggested that a medical student work while in med school to not get debt (dumbest advice ever - I'm a physician - most important thing is med school is education).
@jamiu22 I thought you're not allowed to work while you're in medical school? I would like to go into a sonography program but it's full time for 16 months and I can only think of working during the evening but I'm very afraid I wouldn't do well in the program with a full time job and no real rest.
@@qwertykaitlyn yeah, it is highly discouraged - and some schools will flat out forbid you from working while in med-school. No matter how smart you are, you need to spend approx 80hrs studying outside of class, so making it almost impossible to work if you wanted to.
I dabbled in day trading during my 1st yr in med school - did well - but quit that as soon as I realized the added stress to my already stressful educational workload, also realizing that it won't benefit my future patients, spending time away from the focus of the 4yr intense learning.
Congrats on sonographer school, it's great education. If you can avoid working for those 16months, it'll be tough - but its part of practicing delayed gratification, which will also serve you well later on in life 😉.
He needs a job that's meant for applied math. $35K in tech support sounds like 1 step away from a call center where they're telling callers to restart their computers.
Some of Applied Math options I think he should look at are.
1. Financial Analyst.
2. Research Analyst.
3. General Data Analyst such as healthcare, operation, reporting specialist, business analysts, etc..
4. Actuarial Roles or analytical role within insurance that will sponsor Actuarial Exams.
Omg so much school debt 😢, everytime he mentioned it my heart sunk.
I'm looking for a math tutor so he should definitely teach math to students.
I really hope he gets aggressive with paying this debt off and now especially when the interest is at a stand still. Cut out even going out , eating out, no dating and no splurging on anything.
I worked a full- time job at an insurance company as an underwriting assistant. I took an accounting class during my lunch hour that the company paid for. I worked Saturdays and Sundays as a security guard for a computer company- easy money and I would study and read when I wasn’t doing rounds.
I didn’t like business though and was very lost in my early 20s.
Then I got a full time job at a university, They gave me 6 credits for free a semester. I t took me 7 years to get my degree. I had 3 semesters if uni when I got my degree.
My mom died sadly, but with some money I finished paying off my student loans fairly early.
I got my degree (from Boston University).
In 2007 I moved to Taipei, Taiwan and even without a teaching degree, i could make $25-30 USD teaching part- time (and full time fir a year).
There are TONS of opportunities to make good money here/ all you need is a bs/ba. Math tutors easily make at least $30 usd per hour here. Easily
I know a guy who is a MD and not working as an MD and wants to go back to college for another degree. He’s over $450k in debt and just wants to keep going to college. The feds should be able block people from going into more debt for degrees once they hit a certain amount of debt.
why he doesnt want to work as an MD? he can be set for life
@@cutehumor he probably did not get into a residency that you need to use your MD
The good thing in all of this is, he is 23 years old and he lives with his grandmother. So he needs to get a couple of jobs or hustles to get the loan down, this can be gone in no time if he stays focus.
When you get to upper management in my company they pay for your masters degree. My plan was always to work to get there first and then do my masters. I probably won’t be able to until I’m 30 but I’ll be debt free!
This guy may never read my comment but if he does, and needs a job that can pay more and has a degree in math, he may want to consider insurance (with a Mutual firm or good public). Utilize the math degree to get into Underwriting OR - use it to get into a reputable insurer and get on the Actuarial track. Can be Health, but ancillary lines (Life, Dis, Dental, etc.) can pay. You will use elements of that background to understanding the various formulas in a variety of ways - especially when it comes to predictability, incidence, severity, forecasting, etc. Let alone basic premium formulas. It will not be a stretch to build on certain concepts of the math of insurance with that background. If you show well, and prove it, starting at some Mutual firms may be 50k. And a lot of opportunities now can be remote.
I agree with working your butt off but I think there's an opportunity to lean in on what he invested in with his education to work more THERE and make more with it. THEN if you want to do school later, there are programs with the companies that will fund 100% or the majority of it and if it's actuarial there are specific actuarial courses they will fund you to take. Let alone designations like LOMA, CLU, etc. So... again, random guy on the internet but a math degree can be an incredible baseline - think more outside the box and look into carriers (NOT brokers) like MetLife, Guardian, Prudential, Sun, etc.
See it all the time. UW - UW Management -UW Leadership. Or UW - Jr. Actuarial - Actuary (Product) - Actuarial Leadership. Or UW - Prod. Management - Leadership, so on and so on. Even UW - Sr. UW - Portfolio UW (130k+).Have a plan.
I say this to people all the time. It's like they think a degree with save them somehow when in reality if he took his experience from his job now and get a higher paying job. You don't need a degree for that right now. If the other job wants his experience they will pay for further education.
This is what got them in this mess in the first place - they thought an expensive degree was their "golden ticket" to an easy life and high-paying job, and reality comes after they graduate.
I am only going for my master’s because of the GI bill. Thank you Uncle Sam 😂
It's the least he can do. Thank you for your service.
Yeah, I'm also only going to college because of my G.I bill lol. I wouldn't pay out of pocket.
My concern is that the caller isn't going to listen to their advice because they didn't listen to him and kept cutting him off when he was trying to explain "the one thing I'm concerned about...." Since they didn't let him express his one big concern, he's going to feel like they didn't have the whole picture so in his mind, their advice isn't on point. They should have let him speak, explained why his one big concern isn't a thing, and they could have countered it with wisdom. THEN he might haven't taken their advice. As it is, they lost him because they didn't listen.
Are we sure he said MATH and not METH?
At $2600 a month, he definitely said MATH
@@luketarplingood point
Lol😅😂
I love ❤️ ❤❤❤the comment regarding overworking. ( No One wants to work hard any… just my opinion) . … You will pass out before you die …
He can easily transition into a engineering or technical field.
Speaking from experience, I didn’t get a full time job with benefits UNTIL I got my Masters degree.
Dave always says that many of the married couples do not have money problems but they have marital problems that they need to fix and he is correct. I wonder if we need to look at some of these younger callers and ask if there are emotional social and behavioral issues that are masking or showing up as money problems.
Best video title of all time.
Nate seems a decent guy just a bit lost on money, definitely needs some guidance. Keep going young man and you will get there!
I agree, he sounds lost. Hope he finds his way!
But he seems like he's got the spirit.
I went to law school. I had rich kids to my left and free riding poor kids to my right, while I was looking at 200k in loans. It did not seem fair.
I don't need a master degree, I need a job. But the job I want requires a master degree and a profound research profile which I don't have yet and can't do without going to university again.
Dave told him if u study math u should of learn Compound interest…
they don’t want people learning that in school ..that’s how to know how ur money grows
To me, and I'm saying this from experience, it sounds like he has Asperger's. I should know because I do. Sometimes it's just hard to start down the right path. His main focus is math in most people, be included, with Asperger's, they're great at math because they can focus on one thing really well. that is probably why he wants to continue studying math. You could become a teacher perhaps and make a crap load of money teaching math at college
Interesting, I’m now watching this video a year after having gotten my master’s degree. I did get near full funding for my degree through the university so I didn’t put myself in debt for it but I will say there’s a 40k difference in salary between the job I had before my masters and the job I have now post-masters. It may be worth considering depending on your field! And it’ll help if you ever want to get your PhD someday if it’s a Master of Science.
I was also able to get funding for grad school, which allowed me to enter the field in a higher paying position. Approaching retirement now, and I'm thankful for that salary jump start.
What masters degree and field are you in?
@@DestinyC1020 mechanical engineering, I got my master of science degree in it as well as my bachelors.
@@jackbrinkley4436 Good for you! 👍🏾
This is what I was also thinking....it sometimes takes money to make money, and nowadays, and it's REALLY hard to find a decent paying job without having a master's degree.
what is it with people who live with grandma,my dad sat me down 2 weeks after high school graduation & said you can stay for 6 more month's then you have to leave so you might as well join the military so i did.
Don’t agree with the advice. After an MA in maths he could be making crap loads of money in actuary work or banking.
This young man, in fact every young man needs to work 60 hours per week at a minimum. 80 hours is preferred. He's never done it, and he's afraid of it. That's his problem.
I think this kid needs to go ahead with that master's degree. Most pure sciences don't make any real money with just a bachelor's degree. That's why biology majors can't operate on patients, and will still need to go to med school to become doctors. For those in pure science, never expect to make good income with just a bachelor's. This is the one field where additional letters at the end of your title makes people write bigger checks.
As long as his master's is in a job-relevant area of Math. Same with biology majors - a masters in Biology won't help much. But a master's in Anesthesia Assistant Studies would. His master's should be in: Statistics, Actuarial Science, Financial Engineering, Cryptology, or Bioinformatics. But a general Applied Math master's degree will barely help same as a general Master's in Biology.
He's smart, really smart. He should have the mind of never paying for school check with every company and grant and school to see if you can get your masters or whatever for free.
My son would not have to call Dave. I am working two jobs to pay for his college, his car is paid off, he’s living at home while attending UTD.
Lucky son
Book smart but life stupid.
Is Christina no longer in the lineup?
Paying off $80k in debt over two years sounds great! How are you going to double your income to do that? Finding a career that will pay you that much. Side hustle with your current credentials? That's a lot of delivering pizzas and driving for Uber. You're a math major so you know how to learn. Negotiate your way into a better position/company even if that means you need to earn your Master's Degree first to get there. Good luck!
People these days will go into 80-100k+ debt for a $20k raise. So sad
A math masters is good investment.... I know plenty of quantitative strategists at finance companies making crazy money.... Just the yearly bonus from those jobs could clear out his debt in a year or two
He could do online tutoring in math for high school or middle school children in his off time . That’s got dignity and extra money
Our Educational system is COMPLETLY BROKE.
How do you get a 'Degree' in Math and not comprehend 'Basic Budget 101'? 🤔😳
The system doesn't learn , lol.
The system issue is that college tuition rises at a higher rate than either wages or inflation do.
@@davidharman7245 The 'System' is too 'Compartamentalized'.
A 'degree' in Math should also include basic application of mathematics for basic Construction Engineering and Economics.
I personally feel that learning How 'Money' and Interest on 'Debt' operate 'Mathamatically' in our Debt Based Gov't. system should be a HIGH SCHOOL requirement.
There is a psychological disconnect between basic math and managing money. It's what has allowed Dave Ramsey to profit 300 million dollars a year in his business Ramsey Soulutions.
Many of us in the math world are too focused on proving theorems, analyzing math concepts and coding sometimes. Many people including myself weren't even required to take financial math because it's a lower level course and you can test out of it. I agree with you though that financial math and math for the trades should be a requirement in high school. Instead, the smart kids take AP Trig or AP calculus.
He probably does understand personal finance, but the reality is a degree in math is pretty hard to market because it's not applied like with an engineering degree; it's more theoretical. His choices are likely academia, which will require a PhD for "reasons", or he can head to Wall St. and get picked up by a hedge fund to run whatever investing fad comes up next.
Guy needs to think for himself. A Masters of Applied Mathmatics is not the same as a business or music diploma. Do some industry research, see what the salary boons are v.s your 4 year degree and swing for it if it means you earn 40% or more over the course of the next two or three decades. Its not debt, its investing in yourself.
Math doesn't have to be complicated towards money. Only stupid mistakes makes it worse
And I quote: Dave Ramsey Unmasked: Lawsuits And Intimidation wow...
Don’t go back to school! Get that experience and switch jobs soon😊
Inside Edition just posted a video about a bunch of people getting scammed 10 million dollars investing in gold. A company called regal assets. Please do a video on that. Help warn people not to invest in something stupid like that
It really depends on the offer. he's not in a good financial situation right now, but the degree could be what he needs to pivot careers.
Granted, I don't know exactly why he's doing the degree since the bachelor's and master's seem so similar, but clearly booksmarts is where the guy shines in.
The guy could be getting into a more engineering-related career line. And if he stays in the role that he is in now, he is putting off plans for a career transition, if that's the purpose of the master's degree.
It really depends on what degree, and where it's going to be in, and the total cost.
Good lord dude, spit it out. The entire 8 minutes this guy managed to complete about 5 complete sentences.
"you need to go get a job" and then they start arguing. LOL
It’s a simple equation. You make 38k a year. Just bump that up to 200k and you can pay it off in one year
This is quite sad. I'm a college student who has less than 6000 dollars in debt.
I'm joining an accelerated program in January and should acquire my Bachelor's degree by the end of 2024.
The goal is to have less than 10,000 dollars worth of debt.
I'm not going back to get my Master's degree--I’m finished with school. In my opinion, the school system is a scam.
Then why are you finishing your BA?
@@AudreyPerry I need it to get a job, unfortunately.
GET HIM DAVE!
Reading the title to this video is hilarious!😂
My favorite part was when Dave Ramsey pulled a loaded gun from under the table and waved it around and went on a rant about "harlots" getting "knocked up out of God's holy wedlock". It brought a tear to my eye. Dave Ramsey is definitely one of the Financial TH-camrs of all time.
No
Love these videos!
After I get done with work (programming), I do more programming 😁
I come from a poor contry where we pay our university OURSELVES every month by working while studying. I can't understand why people in USA have such a hard time to pay their student loans, like get a job and stop waiting someone will pay that for you.
You gotta play chess in life if you wanna get ahead. The caller and so many others are playing checkers!
Dave didn’t even ask him what the car loan was for when he was drown in debts already?
Thank you!
They interrupt too much
This is what happens when you get a degree in something that doesn’t have a career path.
Wow bout time somebody told somebody to stop going to school and get your debt back under control. He has enough school already, pay your student debt off and
quit waiting for somebody to pay it for you.
He should get either get a teaching job and or tutor students. It is so bad that kids go to college, learn good stuff, but are so ignorant to their potentials.