We are SO BROKE, We Don't Know What To Do!
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- เผยแพร่เมื่อ 28 ก.ย. 2024
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investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>
I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,
how do I get in touch with this consultant that assist??>>>>
STEPHANIE KOPP MEEKS, that's whom i work with look her
Thanks for these recommendations.....,,,
And just like that I feel BETTER about my life and finances.
Listening to her and her reactions, I can see lots of positivity and energy in her. I am sure she will be out of the woods soon with maestro Mr. Ramsey on her side. Good luck, Jessica, and hats off to Sir for helping another in this sort of trouble.
That's not positivity, she's breaking.
Golden rule:
If you can't buy it twice, then you shouldn't buy it.
Doesn't work with houses
Works with toasters. Not cars
@@ericdahl2915 😆
works with everything
use to buy cheap car parts and regretted it each time
now i do it right the first time
i step back look at the situation my money my time lines
for all things
Only buy wants with passive income 🤴🤴🤴
They can’t stop spending you can tell in her voice that she is not taking these calls seriously just keep saying yeah “I know I know” which means she’s going to keep doing it. the desperation in the voice is not there yet.
She’s laughing because she’s nervous.
You can't afford to stay home unless you can get a work at home job, not business, job.
Not true. It requires some sacrifices of material things and strict budgeting but it can be done. I did it!
If you really want to save money on your electric bill, just turn off the lights in rooms your not in.
Hahaha,exactly.
Lights are minimal with electricity. The big ones are heat and air condition
Thank you! My husband never made the connection of lights on and tv blaring all evening = big electric bill. 👍
If you left all your lights and TV's on all time that would be something like 150 watts. The refrigerator is something like 200 watts by itself and the air conditioner or heat pump is something like 4000 watts. If you're talking about lights you're looking in the wrong place for savings.
@@queenbee3647 buy LED lightbulbs and change them all.
dont sell house, cause rent will be wayaay more than the mortgage. its gonna get really bad out here. mortgage does not go up every year. rent is increasing at 30-40% rate.
The P&I doesn't go up.. but the taxes and insurance can and will.
No escrow. The mortgage will be the same for 30 years.
@@jumpiam8477 Do you to have to pay property taxes where you live? Do you not carry insurance on your home?
@@brianparrett114 I do. I pay a house insurance and a property tax by myself. It's not in escrow. My mortgage payment doesn't go up and down because of that. That's what I mean.
@Randall V with my current mortgage my loan to value ratio was large enough that the lender didn't require me to setup an escrow. So I manage it myself and get the interest on my money rather than the lender. In my case, the payment to the lender will never change.
I hope that "home business" isn't an MLM, cuz if it is.. giiiirl drop that thing like a bad habit, it's only stealing your money.
I have a friend who sells solar panels he said it's so easy, they don't require a down payment and push the tax benefits, he says that they practically sell themselves and that one of his smaller deals was like 46k
And this is supposed to prove anything
@@bik3r230 Yeah it proves they're a ripoff
Did she just tell everyone that she used child support money to buy solar panels?? I want to know the situation of how much the ex is being forced to pay for her to waste it and how much he makes.
They have to pay child support. That's why there's only $3100 left for the month
Child support wouldn't cover that🤣🤣
What are you talking about? Her husband pays child support to the other woman/the kid's mom. Unless the ex wife is living with this caller and her husband, the child support wouldn't be going towards these solar panels. 🤣
Solar shouldn't be 30k!
Just get rid of the car and stop buying things you don't need.
I get the vibe that as a couple you didn't help each other to give your best, each and together. How is it working now with a budget and a goal that will depend on both doing what you are capable of, when you really show off?
Don't fear other people's envy, you might as well be many people's inspiration!
I don't understand why people that make no money insist on having kids and buying houses.
Donald Trump did it
It's funny how people need to be told something that's obvious and surely they already know
Many bankruptcy attorneys are very grateful too
These people cannot afford to sell the home especially with the current home and apartment prices. They should consider renting out a room or their basement for extra cash. She needs to deliver pizzas or driving UBER/lyft in the evening when hubby is home and on the weekends.
Suzy Orman years ago used to have a show they would have a segment called can I afford it? People would be wise to ask themself if it’s a need or a want.
Solar panels Ha! I knew a woman who took out a loan to get them. I asked her how this would save her money. She went silent.
3100 a month? My dad makes 2500 a month and he LIVES WITHIN his means and is fine except he doesn’t have debt other then maybe taxes. Also it’s cheaper to renovate your own home then to pay someone else.
He didn’t buy Solar panels he can’t afford. Smart man
It's not about how much you make. It's all about how much you spend.
@@learenng1267 No how much you make matters. The catch is how much you spend vs. make vs. whatever else you do.
THAN not then. Why don't young people know this simple grammar rule taught in the 4th grade?
@@TS-rd7oy it was autocorrect that did it
Absolutely. Exactly. Fabulous. sounds amazing😂
Dave: Sell the house!
Caller: Bahahahaha
Dave: You're broke
Caller: Bahahahaa
Caller was in great spirits. Bless her -
Mine is a silly generation. Behold 'Exhibit A'.
Every generation has it's idiots
When will people realize that solar panel does not SAVE money, it only raises your power bill.
Ummm…soo sell the house and then what?! They still have to live somewhere and then no longer have an investment property. Not to mention the rising costs of rentals and housing. How is that a solution?
She isn't as bad off as some other people who call into this show.
Common sense flew out the window with this couple
He says get a rental like it’s just that easy rental prices have skyrocketed that’s not a good idea it’s not sustainable
She could get a part-time night time job when her husband is home. It may not bring in tons of money but every little bit helps.
I bet your husband isn’t laughing!
And she won't work weekends and he needs to be home on the weekends to "help" with the "honey do" list.
💊
She’s nervous. It’s a nervous laughter not all laughter is happiness
@@djpuplex Or both his children.
@@SLloyd-qb8kt You know what would help with those kids extra income, the kind that can be made when he's at home spending time with his kids and not being run into the ground
How old is the step daughter, the one you pay child support towards? How much do they actually bring in per year? Child support can be pretty hefty at times.
Doing the math with what she said they take home (after child support), I figure they take home less than 40k a year. There house along with the stupid solar panels, both were way out of their price range.
@@vickieclark5931 Especially with caller's work allergy.
I don't see them increasing their income, as that's more Child Support they will have to pay.
And yet in some states, cities, they want to dumb down the graduation requirements in high school for things like math. Math is racist. Well until a non racist monetary system comes along, math is absolutely essential to know whether $30,000 grand on solar panels is worth it and what the true cost of them are and when is break even.
If you sell your house a lot of times your rent will be higher. If you turn around and buy a smaller house you don't lose your equity.
I used to sell solar panels. I regret the dent ppl went into in the name of replacing their high power bill with a lower solar payment.
It's hilarious how dave ramsey tells you to stop payin an dd's buyin all this stuff and save allllll this money just to give it to him and soooooo many idiots believe and do it
What is dd?
Please stop interrupting your callers. It is so rude and annoying.
Baby step 0
Never borrow again
I am so broke that I am still saving up to be poor
Why do you pay so much for solar?
I was a waitress in the evening, daycare provider, frugal freak.
So many people say "I don't need math in my life"....here you go. Prime example
Love listening to thos motivation. Keep going guys.
She has equity in the house. If you cant afford it, sell it.
Selling is plan B.
Sell the house downsize to a small house and 3 cars,she works from home. Get rid of all but 1 car.
Sounds like she doesn’t like her step daughter
How
Of course not. She goes and marries a man who already has responsibilities, then saddles him with yet another one, then is mad that money doesn't stretch like a rubber band.
@@christinebutler7630 😂😂 so cruel but reality
Omg her giggles!!
A skilled man by shopping carefully can buy his own components and put in a respectable amount of solar supplementary power at a reasonable price. It's not going to be enough to run your whole household unless you have a backup generator. It's a good thing to have we all know about the cold weather power outages and etc. That way you can keep your basic functions running and you can't power electric dryers or electric heat. But it will keep your natural gas electrically controlled heaters going in the winter and your refrigerator running with a few LED lights for in the house where you need them. Their financial problem is they don't make enough money for the amount of debt they have it had to be debt free to live on that. She can get out and get a job and I don't know what his job skills or ability are where he's at cuz he can find something else to pick it up he probably better do it. Back to solar Recently 100 watt panels was on sale for $89 to 130 regular price. So if you go with 20 panels that is about 2000 to 2500 for panels. Then of course the other hardware is more but at 90%=peak power 1800 watts. That a lot of juice if you just turn off all the extra stuff that stays on like stand by TVs coffee pots computers wireless routers etc. I'm about to shut of my high speed internet.
lemme guess, your stay at home business is an MLM selling essential oils. that's a great way to go broker!
These divorced and remarriages cause a whole pile of problems
I think she had more than one glass of wine before she called.
CLEAN UP YOUR PAST MESSES BEFORE YOU REMARRY AGAIN PEOPLE!!! GEEZ!!!
I work in solar panels. Don't buy solar panels.
Yo Dave ramsey gets the toughest of situations. Like literally the shittiest lol
The fact that he keeps cutting her off is blowing me😭
One of my ex-inlaws(that I honestly thought was going to spend his life in Prison) is now selling solar panel(loans) and installations.
You don’t even have to be home! He once broke into our house without damaging the door, and I appreciate that, but he fell asleep in my big softee leather recliner watching our new 50” Samsung(that I think he was gonna take, had he not taken a nap), I had unexpectedly got off work early for low census.
But, anyway, I just thought seeing a Business Card(a very nice looking one too), at a Gas Station on the way out of State for a Contract Job reminded me of how small the World can be😂.
Scary stuff. Most felons are self employed(ouch!)
Well, most felons are self employed because there are very few companies that will hire one. If you went to jail when you were 18, you kinda face a life of very limited opportunities. A huge problem we have in this country that makes jails a revolving door
All billionaires and most millionaires are self-employed.
Solar energy panels you can’t affords? Open up the blinds!
The word bankruptcy is misspelled in the show lol
This isn't Going to end well at all
They've probably got cable etc etc etc
Yep and take vacations.
What a mess
Solar panels are too monetized now for them to be beneficial for any house hold, my opinion
There's 3 life altering shows / podcasts that will shock you into reality really quickly..Dave Ramsey..Hoarders..My 600lb life..🤑🏠🍔..Money, homelife, food...
If he makes more the child support will just go up Thats what Dave forgot to mention. 3100 a month was good back in the 80s. I’m literally spending that a month in gas food and insurances. It’s just ridiculous now a days. Thanks Brandon
@@happycook6737 yeah he trippin
How many kids and cars is that for and in what state??
Granted I'm in Oklahoma but I'm spending at most $300/mo/vehicle for gas & insurance then food for hubby & I is around $400/mo add another $500 for utilities and internet so $1500 covers the basics each month (house is free and clear with inheritance from my mom).
I agree Thanks Brandon
@@dianneroberts2786 500 utilities & internet?😵
Solar panels....gezuz h christ
And spent 30k too. My highest electric bill in the summer is $200. The lowest during the year is half that. The interest on a money market account with 30k in it would more than cover my electric bills. Solar panels only makes sense if you live somewhere with extremely high electric bills and other things like a heated pool, electric cars, etc. Otherwise, it's a rip off. My sibling spent 20k on solar panels but their monthly bill was about $600 per month. They paid cash for the solar and got a bunch of tax write offs. For most people it doesn't make sense though.
don''t worry universal basic income is near and all machines will take over
Stop judging, be kind or shut up!
Good word
30k on solar panels, to save $50 per month.
Lady “you’re right”
Dave “no I’m not kidding”
I have a brother in New York City that got solar panels practically for free from the liberal government over there .😅
Solar panel sales guy said, "We can cut your electric bill in half!" My electric bill is $110 per month. I said, "So you're going to save me $55 a month? That's $660 a year, and at that rate it will take 30 years to recoup my investment." He hung up.
how long does it take to recoup your investment on your home?
@@drprofessorpowersport Solar panels leak. Anyone who tells you different is either trying to sell solar panels or trying to sell their leaky roof solar panel house.
@@drprofessorpowersport You recoup as soon as you sell.... and in most cases, you get more than you invested. The only other option is to rent, and your rent is never recouped.
@@rayjgold You'd have to pay off your mortgage first so on average it would take over 30 years to recoup your principal investment... not even talking about interest
@@rayjgold how is that different from solar? Aside from the fact it might not appreciate. The only other option is to "rent" from the utility company, which you never see a return on.
I've been in financial trouble before. Now, I own my car, I own my house and I have zero debt. I don't have a ton of money, but it is cheap to live if you have no debt. My rule of thumb, don't jeopardize my savings, and if I can't easily pay cash for it, I can't afford it. Also, just because I can afford it doesn't mean I need it; needs v. wants. The only bills I get are utilities; I can't tell you how good that feels.
We are.right with you!!! It's great to not have the burden of debt!! 20+ years ago were my debt battles!
No debt is awesome but only bills are utilities? What about property taxes, insurance, phone bill, car insurance, internet, Netflix…. I would love no debt and am working on it but living a “normal” life in the US is expensive.
You dont have phone bill or car insurence
wants mean you're bored. go for a walk.....that "thing" you think you want will be sitting in the corner in a month gathering dust....
@@andrewt9521 I have a friend who calls me greedy because I am still working full time at pension age. According to her I because I have no mortgage and "your only other bills are utilities" I can afford to cut my income in half. I said what about everything else not to mention saving for emergencies?
She's not laughing because she thinks it's a joke. It's her defense mechanism. Good thing Dave put her on the plan. They need it.
He "put" her on nothing. She isn't going to follow through.
Yes.... Dave and many other people are too stupid to recognize nervous laughter.
Exactly.. She's nervous and anxious for sure. Sometimes I laughed under pressure because you fell guilty airing your faults, especially on national radio! I hoped she started the plan and continues to follow through.
Ya she’s nervous.
Ben- she has a child.
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good?
sounds great! please I will appreciate your assistance on how to go about it, who's your investor and how good is your investor..
I am going to look her up, I have about $81k i want to start with....
Thanks for the efforts you put in these. I found her and i leave her a message i await a response
Just invest in index funds. You're never going to be successful picking individual stocks, that's similar to gambling. If you spread your money out across (for example) the 500 largest companies you are almost guaranteed a safe and lucrative investment. In the history of the stock market, it has always gone up over long periods of time. Over the last 5 years the top 500 companies have averaged a 9% return per yearX
Don't trade. Invest. There is a difference.
$30,000 to "save money on electricity"????
There's your problem.
Selling the house is rarely the answer anymore. I sold my house in 2010 and started from scratch and for 10 years my rent increased literally more than my annual pay increase. Now bought another house, I’d rather be broke with a roof and equity than broke and covering landlords increase each year.
Solar panel with a loans and house debt is literally the epitome of debt on top of debt.
😆😆😆
Fact!
My dad was able to get them for free through insurance, I’m curious why they weren’t offered that route as well.
@@TimeisUp22 how was he able to get them for free from insurance? The insurance doesn’t just hang out free money…
@@barrycook8116 I have no idea. It had to be either home owners or life insurance. But thats my assumption, I assumed thats what everyone was doing at that time. Ill ask him tomorrow.
Definitely don't sell the house. Rent will cost more than your house payment. And they are going to raise the rent so high that noone can afford to live.
Yep. My parents rented all while my mom was alive till 2013, and in those 25 years they were together (they met in their 20s and 30s) - the rent went up 65% a joke. Now my dad is a single father living with us and owns his fathers old house.
It's sad. Renting in a big city is just too expensive
No it wont lol
Yeah Dave shouldn't have said that
If none can afford to live the city will become empty. Is that something you think that can happen?
A few years ago my home caught fire. The fire department was able to save my home thank God but as I was helpless watching my roof burn I had an epiphany, "it's just stuff!!" You don't need stuff to make you happy. The moment you stop wasting money on "stuff" your financial worries get less and less.
I agree but we all need a roof over our heads. Can’t afford to buy? then rent. Life is pretty simple until we take big stupid steps in the wrong direction.
I say that line also: "it's just stuff" ever since a huge tree fell on our house. No one was killed or injured and that's all that matters. The rest is covered by insurance and it's replaceable.
I don’t know if selling their house is the right idea with the rising rent in America. I think their house will help shield them.
Agreed rheny need more income
Yep ! More income and budget and get rid that 15k debt for a start !
If caller got a job making 40K or so a year they'd have the debt taken care of in a few months. Plus invest and plan for the future and build equity in their house. The husband has a child support obligation, this all should have been in their long-term planning when they got together and had a kid. And having the other kid is fine, and he will also be fine in daycare/preschool. They also need to go through their budget. line item by line item. "Breathe" is the best advice. Dave & Co. were spot on with this caller.
Dave: “Better than I deserve. How are you?”
Caller: “I’m great! We’re broke and don’t know what to do!”
Hahaha
My first thought when I heard it!!
It’s so weird how we default to say we’re okay isn’t it? She’s probably meaning her health
My health ain’t even ok . Good news is all they want to hear . They don’t like it when I’m down .
This lady is wise to have called into the show. She is not stupid just afraid and has a way out. The question is does she and her husband have the willingness to make change. Change is hard.
At least in this situation they have quite a bit of equity in their home. So if worse came to worse, they can sell their house and start over. Most don't have that ability. This couple is far from being bankrupt.
I wonder why the husband didn't call in - why did he let her do it, is he angry at her for impulse-spending, does he feel ashamed for buying the solarpanels, is he reluctant to admit they need to start anew? Such emotional aspects need to be discussed kindly, unjudgementally, and come up on the table and be solved together.
Lady is pretty dumb. Math is hard for them.
Drinking the coolaid to buy Solar panels was stupid.
I love that the guys on this show understand that people get overwhelmed and stressed and stop thinking logically. They’re in fight or flight. Dave and co are here to help literally knock some sense into people, with love of course
A rental at this point would probably be more expensive than staying in the house.
I'm Canadian and house prices are ridiculous here. I bought cheap don't know how future generations will afford it
@@leadnsteel1428 I suspect housing will become a bit lower within the next few years. People's incomes aren't going up at the rate that housing is going up which will soften demand.
exactly!
I feel sorry for anybody renting. It is just crushing.
All depends on where you are renting
Honestly just sitting down and making a weekly/monthly budget on a simple Excel sheet makes such a difference! It helps you to have a visual of how much is going in and out, and you can see what you can cut back on/how much you can spend. It has been a life saver for me.
Excel sheet,that’s advanced.I used a good old mead spiral notebook paper 😊
Well said !
yes it really helps I love mine and have shared it with friends.
Im.going to implement this
I've been doing this for about 2 years and it brings so much peace of mind! I know where every Real goes and so far I've accomplished lots of things.
She reminds me of myself I'm very unorganized I thought I was broke till I looked at my income taxes WHERE DID ALL THAT MONEY GOOO but I've been learning about managing my money being more organized and thanks to shows like these I've given up the monthly payments lifestyle and I'm about to pay off all my debt little by little and after I will invest !
Update???
"Of course I don't want to resent my stepdaughter".....and Dave talked right over this sad, yet revealing comment. It clearly shows that she does not hold herself accountable for failing to control her spending.
She resents her stepdaughter
THIS!! That’s exactly what I heard too! She resents the step-daughter. Why even mention “after child support” in the very beginning? I knew right then and there she resents the step-daughter.
@@Sasha0406 probably because his net pay would be maybe double, then CS takes a chunk of change out of it
She blames the kid for their problems.
@@cloudedcolour5329 no way. My ex makes about what this guy does and I receive $100 per week to support our son.
Can't wait for the free electricity from the solar panels FORTY years from now.
By then they will be on their 3rd set.
Exactly! That's why to me solar panels don't make any sense. It's like buying an 80k electric car to save on gas.
@@vickieclark5931 it’s amazing how many people disregard the cost of the car when working out how much fuel they would save with an ev
Payback is closer to 10 years when you purchase your system up-front. Then you get free electricity for the next 15 to 20 years.
@@vickieclark5931 enivornmentally they do
spend 30k to save a 150 a month electric bill lol
🤦🏽♀️🤦🏽♀️🤦🏽♀️
No even, probably like 50 bucks, if that!
Their great, great grandchildren may reap the benefits in 80 yrs 😂
Yeah, not too bright.
Why are her solar panels so expensive 😮?
she makes multiple statements about the step daughter... this is awkward.
Just like yesterday's call too. Note to self women hate stepchildren huehue
Single people without children should not marry someone with children from prior relationship(s). It's just not possible to come out as top priority, nor your mutual children.
Right? I think when Dave talked over her she said she doesn’t want to resent her stepdaughter. For what? Existing? And existing in her husband’s life before she met him? She already does resent her, and really the stepdaughter is a scapegoat for the couple’s stupid decisions.
Sorry, stuff like this pisses me off because I was the stepdaughter. Every birthday I had to hear a countdown to when I would turn 18 and child support would end.
@@jeromehenry4484 I don't think that's always true. I have a friend who married a guy with four girls. Her husband has joint custody of them with his ex-wife. She loves those girls to death. That being said, they are far from broke, like the caller in this video...
She agrees with everything but doesn’t seem like they will do it. I meet ppl like this all the time.
Sometimes depression is so powerful you can’t create any reason to change
Before i read your comment , i thought the same thing. Lots of laughter in this caller. Giggle,giggle..
Lol yup
She took the initiative to call. That's something. So yes, I think she will try.
Agreed. She might not follow through( forgot about it) or other excuses lol
I hate when Dave acts like you can just easily double your income. If it were so easy we'd all do it.
Is not easy but is not impossible.
If Dave would have said is difficult nobody would have tried.
Yes you can double your income and it only takes one or two little things
@@kathys1285 Maybe in fairytale land. It really depends on where you live. If you live in an area with few jobs it's not that simple.
@@kathys1285 so what are the one or two little things?
I worked a full time job for 25 years because my husband a teacher didn’t make a bunch of money I don’t get these young mothers who think it’s ok to stay home and raise their kids my husband and I worked together I worked nights and all weekends to take as much stress off of us so my husband could watch them while I worked where there’s a will there’s a way
There is someone always in our neighborhood trying to sell solar panels. I tell them through my ring doorbell to keep it moving.
Thanks for the laugh
Did he look like the Monorail Guy from The Simpsons?? 😂😂
Imagine mocking someone that will save more money than you, while you pay a power bill until you die to ERCOT which left you in the cold while your lawmakes flew to Cancun
I say I'm going with a windmill in my backyard.
With Texas in your name, I assume you are from Texas... did you lose power during the winter storm of 2021?
She need to go to work and help her husband. These times require a two-income household. You should never let our spouses struggle to pay bills. Even if she works part time ; it’s better than nothing.
Not if child is an issue.. hopefully, she can get something that works for their situation.
Depends on the cost of child care versus after tax income
Dave should tell every caller to Never ever buy a timeshare.
How can people live like this? What boggles the mind is that most people live this way and think it's normal. This is freaking crazy!
As a reformed liver of this type of lifestyle I can only say that it kindve creeps up on ya and slowly becomes normal. I can only see it clearly now through the benefit of hindsight.
Christopher Martin, experience is often the best teacher.
It’s like anything the craziest stuff seems normal if you’re in it long enough
They just keep buying one more thing that they "need". American garages are full of things that people could live without and leaving no protected place for their cars.
You have to live within your means.
"We don't owe anything on cars. One is rent-to-own." How is this not a debt? These people are a laughing mess.
Americans are car crazy but don't own houses. Id rather drive a clunker so I can have a paid off place to live and not worry.
I think she meant it as there wasn't a loan with interest for it. She can give it back to the friend they're renting it from and not have a loan balance to pay off, or penalties, or anything like that.
@@Liv2Pnt Here's how to make it do: save $$ for a replacement car and pay in cash, not wacky rent-to-own schemes with friends (which will fall apart) or financed through a car dealership. That's how it's done.
Yeah. A friend of mine recently bought a new home theater system and stand. I thought it was really cool until he said the whole setup is $179 per month. I think from a rent a center. In ten months you would have paid off your TV if it's a nice one.
@@benkelley6561 dude, I buy TCL Roku TVs from Walmart for my furnished rental homes. *I literally paid $248 for 65" TVs during black Friday last year. That people with no means will spend almost $2000 on a 12 months commitment for a lesser TV than Walmart sells for under $250 I will never understand.* Of course I'm 50 and drive a Honda Fit so clearly I don't care what people think about me. At all!
Her laughing annoyed me initially but then realised it’s actually her natural defence when nervous.
The salesman who sold them the $30k solar panels must be a genius because they might be saving maximum $100 a month!
Yes, not only are the cost of the solar panels not cost effective in reducing their power bill but they have to be removed to replace or fix the roof. At $100 a month it would take 300 months to pay for the panels not counting interest. There are also repair bills during the life of the panels. Also, when you sell your house the panel debt comes out of the proceeds from the sale.
Yes, almost as crazy a financing $300K for a home when you can rent for $1300 / month
@@w.andrewmeloni4723
Except a 1 bedroom apartment is 1300 a month, A 300k home is $3k to rent.
They have equity in their home already, you never get any in an apartment.
If they keep the home they will have a nearly free place to live come retirement time.
Where are you renting where you can find an apt for 1300 - my area you can’t
I don't think that he's much of a genius, rather her husband and her are very unintelligent.
100% self inflicted. You put 30k dollar solar panels on a 300k dollar house
@@saulgoodman2018 you pay 30k in power?
@@mxerb5912 I think he means if the monthly payment for the solar panels is less than the monthly payment for electricity. Not likely though.
@@Mactakun doesn’t matter At 200 bucks a month, it takes 12.5 years to return your money. Hoping that the equipment lasts that long. You could have doubled your money in that time
@@saulgoodman2018 I've run the numbers many times. When you take into consideration the limited lifespan of the panels you always end up in the red.
@@paulvarjak7378 Don't forget that the loan or lease on the panels can make the house a nightmare to sell if you need to move. You have to really read the fine print on deals like that.
I believe most people think "If I can afford the payment, I can afford it." Change your thinking! "If I cannot purchase it in cash in full, I cannot afford it."
Another thing about purchasing stuff with debt is if it can legally be taken away from you for any reason (i.e. failure to make payments) is it REALLY yours?
Here in Texas if you don't pay your property tax bill the county can take your house even when you own it free a d clear without any mortgage or other liens on it. So is it ever really your house?
Purchasing in cash in full does not mean you can afford it. You need to save and put away money for retirement. Just buy what you need and live below your means and take your savings and invest it wisely. I will tell you that my co-workers have made fun of me due to how frugal I am.... now they don't laugh at me anymore and I am twice or ten time more wealthy then any of them including my boss and my bosses boss.
💯💯💯
DING DING DING we have a winner
@@brianparrett114 To answer your question about a house, not really. Even if paid off there is always a 'lein' on it because of taxes. Most people miss that, thinking the paid off house is theirs no matter what.
I've been debt free since 2005 and it feels wonderful!
I get thst 😊
Not really you still pay a electric bill and pay for gas and pay taxes we are all in debt too the very end of are lives I have 300k put away and I still feel like I'm in constant debt when I open the mailbox
Are you a Millionaire now?
If your not free and clear on your mortgage your not debt free but you are congratulations 👏
im 34 and have like 55k in debt
ive been young and dumb
i know ive was spending more than i made
now i know better and can get out of this quickly
i can imagine how nice it feels dwbt free
before i came to USA from Mexico i was debt free