When Dave ranted about this kinda thing 7 years ago I pretended he was talking to me and now I have money and about to pay off the mortgage. Thank you Dave!!!
Gonna be real, I don’t know if it’s laughter all the time. Like in this case, I think she just felt horrible while Dave was scolding her and it’s that “oh my god dad” kind of face lol. She is very empathetic. I’m not saying Dave isn’t, but he’s just incredibly blunt lol
There's nothing off about these numbers. Chevy resale value is atrocious. She bought a used car at height of insanity during covid shortage and it was a car with horrendous resale value
Correction: the resale value of Malibus (and other Chevrolet passenger sedans) is atrocious. Have you ever looked at a pre-owned full-size Chevrolet truck or SUV? Strong residual values.
@alladreamwedreamed either way, she's using the trade in value not private sale. Used cars with low miles are still expensive. 95k miles is not that high.
Rachel dropped the best advice in this. Shop around, people don’t shop around enough for cars or education and just go for the first option. So many cheaper cars out there you could afford, so many different ways to get discounted or sometimes even close to free education.
200k in debt and casually throws it like it doesnt matter. This is what being kid is. Has no idea when she is in pit. This is why Dave is important. So many people still have 0 idea.
tradesmen here: not going to a university right out of highschool was the best thing ive ever done for myself. i wish more highschoolers knew the trades were an option and just how well they pay. I am 23 and almost hit 6 figures this year, with no student loans is pretty awesome.
Trades are amazing! I do think college is good if you go into the right degree. Im 23 and been in the workforce for a year and a half making 6 figures. I got a Mechanical Engineering degree and actually and working with the trades!! I’m a Gas Transmission Field Engineer for a big gas and electric utilities company. People have got to do their research on job potential for their degrees
There are just as many worthless certificates at trade schools. No matter where you go to school the most important thing is that you choose a field of study that can get you a job that pays.
@@FMD70757 that’s true as well FMD. It’s actually looking at the return on your investment. No one should think going into 100k in debt for a job that’s starting at 50k is right. Especially when it’ll take you 10 years to get to 100k. It’s unfortunate af
We told our kids as they got older that we would pay for them to go to a trade school or community college if there was a career that interested them, but not a 4 year college.
I would say this again, I appreciate and respect Rachel's style but what Rachel said most of the time doesn't move the needle. Dave does when he confront people the way he does. That's what I call tough love, very needed these days.
a quick check online shows that a MS in marriage and family counseling can be had for less than 50k in tuition. She has borrowed money for living expenses. Even at 50k the degree is almost useless as these services are not usually covered by insurance
False. Regarding insurance. Check out psychology today look up your zip code and note all the MFTs in your local area and the types of insurance they take. Family therapist degree doesn’t restrict you to simply treating families and marriages. An MFT can be a trauma specialist, eating disorder specialist, OCD specialist, etc. Depending on additional training after graduation.
Wow. My total student loans for medical school were ~$85,000. The majority of these "masters degrees" are a sad waste of money. Poor kid is not going to make enough money to pay that off.
It’s going to be a struggle for her and I hope she can get through it…but people have got to realize you can do a masters program after you get into a job and maybe even have the company help pay for some of it. We need to do a better job teaching us kids financial literacy. It’s such a killer of momentum for us
@@andrew8168 true. I mean I see some of my friends in college who are going out partying every other week to raves and concerts. Like ummm idk if that’s the best use of your money when you owe 12k on you degreee buddy
I’m a nurse anesthetist with only a master’s degree (cash flowed it). It was a good deal. I make more than double the average Family Medicine Physician salary (500+). A lot of these “medical doctor degrees” are simply a sad waste of money. My son, in Medical School, is realizing how smart his mom was for getting her master’s degree in nursing.
The 11% loan made me choke. This is a college educated person? I bet she vacations, does fine dining, spends on nice clothes. She sounds so young to be in this terrible situation.
Happy boxing day. I'm glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Making touch with financial advisors like Elizabeth Regina Nelson who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times
Elizabeth Regina Nelson has really set the standard for others to follow, we love her here in the Uk 🇬🇧 as she has been really helpful and changed lots of life's.
It's a bit annoying and unfortunate. When i was born, the national debt was $2,150 per person. Now it's over $100,000 per person. And I'm not even that old. It's truly alarming and best advice get out of debt, make regular investments and be debt free and financially stable.
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my Financial advisor are working on a 7 figure ballpark goal, tho this could take till Q3 2025.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
45 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.
Vey accurate from your POV, It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your goals
My Financial adviser is ‘’Annette Christine Conte’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
You know, I’ve been listening for about a year now, and when Dave changed his tone to state that she needs to stop being impulsive in borrowing money. All I heard was how much she loved this woman. It’s totally one of the languages he uses when he truly cares. I love it. It’s the big picture.❤
If a young adult is open to discussing how to become financially independent, I bring up these baby steps. I keep an extra copy of Dave's book to give to them. I tell them debt is just a way to enslave yourself to the bank. I may not be around to see it, but I hope many of them become millionaires.
That moment when the student loan made Rachel gasp for air as if she had won the Olympic 100 meter swimming freestyle race and Dave having to endure a busted embolism...all while staying composed. 🥴
Dave has a mute button on his desk. If you pay attention in some videos you’ll notice when he presses it when the conversation isn’t being productive. Then he rants
Dave has specific curriculum for that!! PARENTS should be the ones to teach this information if the school they decide to send their children to does not.
My father stopped paying for college when I was a senior. My husband left me and my two babies. My college spotted me my last year for free and I got a scholarship to law school. In my personal experience men have done nothing but hurt me financially and I saved myself.
@jennifergottliebel-azhari149 then we can say then you didn't have a strong husband or strong father or strong brother. The devil is always a lie. You say bring back the order of God women talk to you about Satan incredible. Imagine one bad women did something to me and I say all women hurt me 😂😂 grow up.
I'm 50 and nearing retirement. I've got a pension plan through my employer, but I'm not sure if it will be enough to cover my living expenses in retirement. I've also got some savings in a 401(k) plan, but I'm not sure how to optimize my withdrawals to minimize taxes.
My pension plan is expected to pay out about $40,000 per year in retirement, and I've got about $500,000 saved in my 401(k) plan. I'm not sure how to coordinate these two sources of income to minimize taxes and ensure I have enough to live on in retirement.
Consult or speak with a financial advisor. My parents were faced with a similar challenge when they were nearing retirement but they worked with an expert advisor, Glen Howard Chester, who specialized in retirement planning. He helped them create a customized plan that optimized their pension and 401(k) withdrawals to minimize taxes and ensure a steady income stream in retirement.
Contact a smartvestor pro. Knowing your expenses in retirement is not complicated. Look at your budget now, and think about what you want to have or not have when you retire (i.e. house, car, etc).
I paid off $100K. This was my wife's and mine brand new cars and $46k in student loans for my engineering degree. But I did it with 3x her income. I couldn't imagine such a small income on $250,000 in debt. What a nightmare!
Managing Money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times, while orders tend to avoid them. Well, at least my advisor does too.
I’m 61 years old and carrying $98,000 in debt, $45,000 in credit cards, $20,000 on a car loan, $18,000 in personal loans, $15,000 from a failed business venture. I’m seeking guidance should I tackle high-interest debts first or smaller balances for momentum? How can I negotiate with creditors to ease the burden?
Yeah, l've heard a lot of people say that the transition to retirement is tougher than they anticipated. It's not just about money; there's this whole psychological aspect to it
I've heard a lot of retirees say that their social circle shrinks dramatically. It's like you have all this freedom, but not many people to share it with. I think that's something people don't realize until they're in it
Masters and marriage and family therapy for over 200k and doesn’t understand basic finances. Has zero thought of paying the student loan ever. She will be in debt forever.
The only education that's worth it, is for a field that you have no choice to get a degree in it. Most positions you can get on the job training. And somebody's granny would be the best counselor, from plain old experience.
I've been making a lot of looses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies
30 seconds in "the value is down. I guess i do have a little bit of damages on it" What? How is she surprised that a dinged up car is worth less than a car without damage? Also, how do you begrudgingly accept that you have a damaged car. It either is, or isn't damaged, smh. Zero accountability with this caller. She has a lot of hard lessons ahead.
I felt dave had a mini heart attack when he heard the $250000 number. This just shows how much dave cares and what a treasure he is for everyone. Thank you dave for your guidance ❤❤
Wow, she way over paid for that ride!! The milage is very high, that is the problem! Then she WAY over paid for schooling, that's insane, she could be a damn doctor and have the same amount of loans and quadruple the pay!
Lots of people can't handle the premed requirements of chemistry, biochemistry, organic chemistry, physics, and calculus, so they opt for psychology, sociology, and counseling, which have far fewer demands and are an easier path to a Masters.
@@alberttang6955 My point was that she got ripped off and would have paid the same for med school and made more, not that she should have gone to med school instead.
@@alberttang6955 Calculus and physics as a path for engineering yes but alone won't get you anywhere like me. Med school is way better than the social work she chose and mostly requires you to know human anatomy.
2:36 Dave, let me educate you since you haven't had to live with the rest of us the past several years. Cars were very expensive new and used from 2021 to 2023. Dealers were charging well over sticker and getting it. That Chevy Malibu was going for $27,000 back in 2022. Today it's only worth 9k because we are in a recession and the car market has plummeted. Yes, a Chevy Malibu has dropped more than half of its value the last 2 years. And banks and credit unions are not loaning out money like they were two years ago, she won't likely be able to get a loan to cover the spread, especially considering that her credit is probably not that good since she got into a subprime loan to begin with. The rest of the world doesn't get to live in a bubble.
People get traumatized and offended by someone yelling at them. A kinder, calmer approach will help folks realize that they can change their ways and get out of debt.
Dealers are taking advantage of these people that are borrowing/leasing a vehicle. I can also be thankful that I didn’t take a 9% interest on a 2016 Toyota Camry at this time 2 years ago.
So, we’ve known for years that money problems and money fights end marriages. Ol’ girl is studying to be a marriage and family counselor, but . . . is starting out her career $250K in the hole. Sounds about right. She’s instantly negated her own credibility as a “counselor”. Any opinion she might have on adulting is worthless. Sweet Rachel tries to soften the blow, but there is only one Dave Ramsey. Thank goodness he’s there to tell her and the other callers like it is!
And they want someone like me, who didn’t go to college and just went to work in manufacturing, to pay for someone like this to get out of their student loans. No thank you I will never vote for student loan “forgivenesses”.
The number one issue that causes stress and breakdowns in relationships is financial problems - $200,000 for a degree that hasn't taught her that basic fact - crazy.
Wait a minute.... I thought she said that she had a co-signer "with great credit" that allowed her to get an interest rate of 11.89%?😳 Those dealers certainly did see a sucker coming! Two, actually.
This is what makes Dave the Best! No sugar coating no sympathizing just the Truth!
Sometimes people need to hear the TRUTH !! I agree !!
When Dave ranted about this kinda thing 7 years ago I pretended he was talking to me and now I have money and about to pay off the mortgage. Thank you Dave!!!
Congrats
This lady called about a paper cut and forgot to mention her entire leg was cut off.
That’s a great analogy!
That part!
Love watching Rachel try and hold back laughter as dad is yelling at Erica
@@mtbokor1969 Strange dude u. 😅
Gonna be real, I don’t know if it’s laughter all the time. Like in this case, I think she just felt horrible while Dave was scolding her and it’s that “oh my god dad” kind of face lol. She is very empathetic. I’m not saying Dave isn’t, but he’s just incredibly blunt lol
I was looking for this comment when I saw her face 😅 yeah she might be feeling bad for Erica
I don’t think she thought the rant was justified. More fitting for someone with a ton of consumer debt rather than one big student loan issue.
@@tedster4939 I'm sure Rachel's heard that same tone of voice at home and knows her dad's in a mood lol
Masters in therapy? 200k total for college is INSANE
Ironic, sounds like she needs therapy herself
A MASTERS IN MARRIAGE THERAPY
I nearly spat out my coffee when she mentioned $200k for that qualification. That's a scam FFS.
"Do you have any money at all? -- I'm sure you don't." Dave's a savage.
I caught that too! lol
@@merriem24
I noticed too!
I started laughing out loud at lunch.
😂😂😂😂
I thought that was pretty cold. And he just got worse from there.
She's calling from the CarMax bathroom.
Regular dealers give worse trade ins than CarMax lmao
All she has to do is. Get the car totaled out and have gap insurance cover the cost and she’s out the loan
😂
😂😂😂😂
Chevy car values drop LIKE A ROCK
I see what you did there.
Me Too😅
*Mass produced cars values drop like a rock
That is hysterical! And they no longer last forever either.
I love it when Dave just goes OFF on a dodo like this caller. Softening the blows with the occasional "ok kiddo" 😅
Something that Rachel or really anybody else on the team can't quite pull off.
There's nothing off about these numbers. Chevy resale value is atrocious. She bought a used car at height of insanity during covid shortage and it was a car with horrendous resale value
Correction: the resale value of Malibus (and other Chevrolet passenger sedans) is atrocious. Have you ever looked at a pre-owned full-size Chevrolet truck or SUV? Strong residual values.
Not to mention that 95K miles on a 2022 car is really high! That's affecting the value too.
@alladreamwedreamed either way, she's using the trade in value not private sale. Used cars with low miles are still expensive. 95k miles is not that high.
@@alladreamwedreamedyep, I have fewer miles on a 12 year old car lol
@herbiehusker1889 it's a Chevy Malibu. Its complete junk brand new. 95k miles may as well by 200k miles on a malibu compared to a camry or accord
Dave body language 😂😂 when she said I have 180k in student loan😂
“Long road kid”
@@coderider3022😂😂
yeah i never seen him do that before lol
When she dropped that student loan the oxygen left the room
Like poof. 💨
the elephant in the room.
Rich people thinks everyone can just pay cash for everything?
@@jimmymcgill6778 If you can't pay cash you can't afford it.
Yeah I was wondering about my upside down car loan... Meanwhile I have a mortgage sized student loan debt.
200k in debt to be a counselor?????? She’s screwed!
No, her clients are.
@@Pa-we1lw Crap like this is why I wouldn't go see a therapist. I think their heads are not screwed on better than mine.
He went from Dave Ramsey to Gordon Ramsay real quick lmao
I've never seen Dave cover his face like that for so long! 😂😂😂
😂😂😂
200k in debt is a death sentence
Debt slave 4LIFE!
Rachel dropped the best advice in this. Shop around, people don’t shop around enough for cars or education and just go for the first option. So many cheaper cars out there you could afford, so many different ways to get discounted or sometimes even close to free education.
Loved the Dave quote “do you know what you have when you don’t have payments…. Money”.
200k for a masters in family counseling?! Damh
She'll never make $100k a year.
she can use that therapy on herself lol
Exactly. Wonder if she went went to one of the infamous for profit colleges
@@lot2196 Yeah right.
@@lot2196that’s not true. If she goes into private practice it’s possible
200k in debt and casually throws it like it doesnt matter. This is what being kid is. Has no idea when she is in pit. This is why Dave is important. So many people still have 0 idea.
tradesmen here: not going to a university right out of highschool was the best thing ive ever done for myself. i wish more highschoolers knew the trades were an option and just how well they pay. I am 23 and almost hit 6 figures this year, with no student loans is pretty awesome.
Trades are amazing! I do think college is good if you go into the right degree. Im 23 and been in the workforce for a year and a half making 6 figures.
I got a Mechanical Engineering degree and actually and working with the trades!! I’m a Gas Transmission Field Engineer for a big gas and electric utilities company. People have got to do their research on job potential for their degrees
There are just as many worthless certificates at trade schools. No matter where you go to school the most important thing is that you choose a field of study that can get you a job that pays.
@@FMD70757 that’s true as well FMD. It’s actually looking at the return on your investment. No one should think going into 100k in debt for a job that’s starting at 50k is right. Especially when it’ll take you 10 years to get to 100k. It’s unfortunate af
We told our kids as they got older that we would pay for them to go to a trade school or community college if there was a career that interested them, but not a 4 year college.
Don't laugh at these people. There is a cost to learn any trade as well.
People need the straight truth and reality. Dave provides it.
I would say this again, I appreciate and respect Rachel's style but what Rachel said most of the time doesn't move the needle. Dave does when he confront people the way he does. That's what I call tough love, very needed these days.
She sounds like a 13 year old kid😂
a quick check online shows that a MS in marriage and family counseling can be had for less than 50k in tuition. She has borrowed money for living expenses. Even at 50k the degree is almost useless as these services are not usually covered by insurance
Damn. Assuming she even finishes the degree, she will be paying off the loan the rest of her life regardless!! Just brutal.
False. Regarding insurance. Check out psychology today look up your zip code and note all the MFTs in your local area and the types of insurance they take. Family therapist degree doesn’t restrict you to simply treating families and marriages. An MFT can be a trauma specialist, eating disorder specialist, OCD specialist, etc. Depending on additional training after graduation.
Wow. My total student loans for medical school were ~$85,000. The majority of these "masters degrees" are a sad waste of money. Poor kid is not going to make enough money to pay that off.
It’s going to be a struggle for her and I hope she can get through it…but people have got to realize you can do a masters program after you get into a job and maybe even have the company help pay for some of it.
We need to do a better job teaching us kids financial literacy. It’s such a killer of momentum for us
I feel like most of these people are financing spring breaks, apartments, living expenses, and other non-essential items.
@@andrew8168 true. I mean I see some of my friends in college who are going out partying every other week to raves and concerts. Like ummm idk if that’s the best use of your money when you owe 12k on you degreee buddy
I’m a nurse anesthetist with only a master’s degree (cash flowed it). It was a good deal. I make more than double the average Family Medicine Physician salary (500+). A lot of these “medical doctor degrees” are simply a sad waste of money. My son, in Medical School, is realizing how smart his mom was for getting her master’s degree in nursing.
The 11% loan made me choke. This is a college educated person? I bet she vacations, does fine dining, spends on nice clothes. She sounds so young to be in this terrible situation.
Her plan is… find a sucker to marry me so he takes on the debt. After he pays it off Divorce him because of irreconcilable differences.
She can find a candidate in the marriage counseling business 😆
Happy boxing day. I'm glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love
My advice to everyone is that saving is great but investment is the key to be successful imagine investing $15,000 and received $472,700.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
wow this awesome I'm 47 and have been looking for ways to be successful, please how??
Making touch with financial advisors like Elizabeth Regina Nelson who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times
Elizabeth Regina Nelson has really set the standard for others to follow, we love her here in the Uk 🇬🇧 as she has been really helpful and changed lots of life's.
It's a bit annoying and unfortunate. When i was born, the national debt was $2,150 per person. Now it's over $100,000 per person. And I'm not even that old. It's truly alarming and best advice get out of debt, make regular investments and be debt free and financially stable.
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my Financial advisor are working on a 7 figure ballpark goal, tho this could take till Q3 2025.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Calls like this make me grateful that I joined the military and got my degrees fully paid for with zero debt lol
45 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.
I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.
Vey accurate from your POV, It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your goals
@@Pconradsmith wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversify my portfolio.
My Financial adviser is ‘’Annette Christine Conte’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Masters in marriage therapy ~ #1 thing they will say " stay out of debt" < Advice she will give forver to everyone~ learned by example.
We hope.
Omg ! Crazy 200k, hopefully she will be making good money eventually 😮🤞
You know, I’ve been listening for about a year now, and when Dave changed his tone to state that she needs to stop being impulsive in borrowing money. All I heard was how much she loved this woman. It’s totally one of the languages he uses when he truly cares. I love it. It’s the big picture.❤
If a young adult is open to discussing how to become financially independent, I bring up these baby steps. I keep an extra copy of Dave's book to give to them. I tell them debt is just a way to enslave yourself to the bank. I may not be around to see it, but I hope many of them become millionaires.
People are borrowing money for college and living from the loans. .. Absolutely no way you get in that much debt for that degree.
if she did all private college and no public college it could come out like that.
That moment when the student loan made Rachel gasp for air as if she had won the Olympic 100 meter swimming freestyle race and Dave having to endure a busted embolism...all while staying composed. 🥴
Halfway through Dave’s Rant, I wondered if she hung up lol
Dave has a mute button on his desk. If you pay attention in some videos you’ll notice when he presses it when the conversation isn’t being productive. Then he rants
He pressed the mute button at: 5:45
I wonder if you even watch this show if you didn’t realize he muted her.
Calling about the underwater car loan but she has 250k in student loan debt 😂
Finance and budgeting should be mandatory classes in high school!!!!!
Dave has specific curriculum for that!!
PARENTS should be the ones to teach this information if the school they decide to send their children to does not.
Dave's face when she says she has 200k debt 4:50-4:54 lol 😆 😂
Bring back strong fathers and brothers
My father stopped paying for college when I was a senior. My husband left me and my two babies. My college spotted me my last year for free and I got a scholarship to law school. In my personal experience men have done nothing but hurt me financially and I saved myself.
@@jennifergottliebel-azhari149Your father paid for 3 years of your college, which is a huge chunk and all you have is animosity for men???
@jennifergottliebel-azhari149 then we can say then you didn't have a strong husband or strong father or strong brother. The devil is always a lie. You say bring back the order of God women talk to you about Satan incredible. Imagine one bad women did something to me and I say all women hurt me 😂😂 grow up.
I'm 50 and nearing retirement. I've got a pension plan through my employer, but I'm not sure if it will be enough to cover my living expenses in retirement. I've also got some savings in a 401(k) plan, but I'm not sure how to optimize my withdrawals to minimize taxes.
Retirement planning can be complex, especially when it comes to optimizing pension and 401(k) plans. hows your pension plan and 401(k) like?
My pension plan is expected to pay out about $40,000 per year in retirement, and I've got about $500,000 saved in my 401(k) plan. I'm not sure how to coordinate these two sources of income to minimize taxes and ensure I have enough to live on in retirement.
Consult or speak with a financial advisor. My parents were faced with a similar challenge when they were nearing retirement but they worked with an expert advisor, Glen Howard Chester, who specialized in retirement planning. He helped them create a customized plan that optimized their pension and 401(k) withdrawals to minimize taxes and ensure a steady income stream in retirement.
@ric-morris I'm curious, how did their portfolio perform? I'm looking for guidance on creating a steady income stream even in retirement.
Contact a smartvestor pro. Knowing your expenses in retirement is not complicated. Look at your budget now, and think about what you want to have or not have when you retire (i.e. house, car, etc).
My life is not better when I borrow to make my life better.
Well said.
Whoever cosigned her loan was an idiot.
I was thinking the same. No way an individual with good credit would have co signed that loan.
She forgot to mention a lot of that student debt was probably blown for living her life, not school.
I paid off $100K. This was my wife's and mine brand new cars and $46k in student loans for my engineering degree. But I did it with 3x her income. I couldn't imagine such a small income on $250,000 in debt. What a nightmare!
Thanks for ranting for us, Dave
Wow. She's a therapist? I couldn't be anywhere near this person. She's nuts. She doesn't understand 4th grade math.
Saw title. Clicked on video less than one second afterwards.
Managing Money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times, while orders tend to avoid them. Well, at least my advisor does too.
I’m 61 years old and carrying $98,000 in debt, $45,000 in credit cards, $20,000 on a car loan, $18,000 in personal loans, $15,000 from a failed business venture. I’m seeking guidance should I tackle high-interest debts first or smaller balances for momentum? How can I negotiate with creditors to ease the burden?
Yeah, l've heard a lot of people say that the transition to retirement is tougher than they anticipated. It's not just about money; there's this whole psychological aspect to it
I've heard a lot of retirees say that their social circle shrinks dramatically. It's like you have all this freedom, but not many people to share it with. I think that's something people don't realize until they're in it
Consulting a financial advisor can help tailor a strategy that aligns with your financial goals and circumstances.
How did you find a good finance advisor? How do you know if they are trustworthy and competent.
Masters and marriage and family therapy for over 200k and doesn’t understand basic finances. Has zero thought of paying the student loan ever. She will be in debt forever.
The only education that's worth it, is for a field that you have no choice to get a degree in it. Most positions you can get on the job training. And somebody's granny would be the best counselor, from plain old experience.
If she chose the STEM field, she'd need the degree and wouldn't have competition like that.
Some people should not be trusted with their own finances.
I've been making a lot of looses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies
I will advise you should stop trading on your own if you keep losing.
If you can, then get a professional to trade for you i think that way your assets are more secure
I'd recommend Bernila Andrew her profit is great even when there's a dip
Can’t believe she called in about the car, if it was a Honda & not a Malibu the debt would be almost irrelevant comparatively
30 seconds in "the value is down. I guess i do have a little bit of damages on it"
What? How is she surprised that a dinged up car is worth less than a car without damage? Also, how do you begrudgingly accept that you have a damaged car. It either is, or isn't damaged, smh. Zero accountability with this caller. She has a lot of hard lessons ahead.
I'm from El Salvador 🇸🇻, here things are very different, but I really like this show. I learn so much from them.
"then she scratched it after happy hour"
OUCH
KBV on that car, private selling in Philly, is about $9,000 - $10,500. For those wondering.
She is a very typical young professional. We need to be wiser moving forward.
Being stupid is expensive.
4:50 Dave talks to himself, don't have a stroke dave!!!!
Lmao. This is why i only watch this show when daves present. The ultimate dad talk
As a social worker who got her Master's by age 22 and am licensed, my loans were nowhere near this high 😮.
Dave almost fell out of his chair 😂
He really did
So did I. She's screwed.
She will be lucky if she can make 100k . My brother has a masters for counseling and after working low pay to get his certs now years in he makes 75k
Damn Skippy! Love Dave on this one!
You could tell just by the way she spoke she shouldn't be in any college let alone a masters program.
😂😂😂😂😂 Dave almost fell out his chair!!
"and then scratched it after she went out to happy hour!" Lol, one of the better rants in awhile. This is unfortunately a pretty hopeless scenario.
I felt dave had a mini heart attack when he heard the $250000 number. This just shows how much dave cares and what a treasure he is for everyone. Thank you dave for your guidance ❤❤
The best is when Dave gets “ok kiddo” or “ok hun..” 😂😂😂😂😂
Go to college they said 😂😂😂😂 you’ll get a good career and pay it off they said glad I never listened to my parents
Just gotta go for a major that’s worth something
4:31 reaction by Dave is priceless
Who pays $27,000 for a used Chevy Malibu with 46,000 mi on it. That's crazy
There was probably negative equity rolled into it
Wow, she way over paid for that ride!! The milage is very high, that is the problem! Then she WAY over paid for schooling, that's insane, she could be a damn doctor and have the same amount of loans and quadruple the pay!
Lots of people can't handle the premed requirements of chemistry, biochemistry, organic chemistry, physics, and calculus, so they opt for psychology, sociology, and counseling, which have far fewer demands and are an easier path to a Masters.
@@alberttang6955 My point was that she got ripped off and would have paid the same for med school and made more, not that she should have gone to med school instead.
@@alberttang6955 Calculus and physics as a path for engineering yes but alone won't get you anywhere like me. Med school is way better than the social work she chose and mostly requires you to know human anatomy.
2:36 Dave, let me educate you since you haven't had to live with the rest of us the past several years. Cars were very expensive new and used from 2021 to 2023. Dealers were charging well over sticker and getting it. That Chevy Malibu was going for $27,000 back in 2022. Today it's only worth 9k because we are in a recession and the car market has plummeted. Yes, a Chevy Malibu has dropped more than half of its value the last 2 years. And banks and credit unions are not loaning out money like they were two years ago, she won't likely be able to get a loan to cover the spread, especially considering that her credit is probably not that good since she got into a subprime loan to begin with. The rest of the world doesn't get to live in a bubble.
It’s funny how people spend years chasing success without realizing books like Guarded Laws of Money Manifestation exist.
This is perfect
Rachel infuriates me during these calls. Stop trying to shield them from Dave by downplaying her debt.
People get traumatized and offended by someone yelling at them. A kinder, calmer approach will help folks realize that they can change their ways and get out of debt.
Dealers are taking advantage of these people that are borrowing/leasing a vehicle. I can also be thankful that I didn’t take a 9% interest on a 2016 Toyota Camry at this time 2 years ago.
on kbb with the highest value in good condition is $11k, and hers has damage.
the school loans are unbelievable
Lol she will never get out of debt TRUST
Facts
So, we’ve known for years that money problems and money fights end marriages. Ol’ girl is studying to be a marriage and family counselor, but . . . is starting out her career $250K in the hole. Sounds about right. She’s instantly negated her own credibility as a “counselor”. Any opinion she might have on adulting is worthless.
Sweet Rachel tries to soften the blow, but there is only one Dave Ramsey. Thank goodness he’s there to tell her and the other callers like it is!
It's a Malibu. You'd have to pay me.
4:30 Dave is like hell no😂😂😂😂
And they want someone like me, who didn’t go to college and just went to work in manufacturing, to pay for someone like this to get out of their student loans. No thank you I will never vote for student loan “forgivenesses”.
thats what you get for buying GM for 27 when you could have gotten a toyota/honda sedan...
Honda for life for me!
Imagine paying 27k and NOT buying a Honda or Toyota 😂😂 WILD
@@k20z3keith7 Facts! Buying that car was a total waste of money, and the high mileage too? No way!
Your videos are more than just entertainment, they are a true source of inspiration and knowledge.🎓🥦☄️
Blessings for me is getting up every day and breathing
4:32 went from talking about car debt to student loans 😞
The number one issue that causes stress and breakdowns in relationships is financial problems - $200,000 for a degree that hasn't taught her that basic fact - crazy.
RAMSEY IS A LEGEND
@@Lee-l5k3d So is her Dad Papa Dave.
Rolling negative equity went right over her head
"My credit was trashed at the time"
Sounds smart
Imagine having a mortgage and no house
The level of financial delusion in the lady is unbelievable.
Wait a minute....
I thought she said that she had a co-signer "with great credit" that allowed her to get an interest rate of 11.89%?😳
Those dealers certainly did see a sucker coming! Two, actually.
Love Dave ❤ classic