I Thought I Could Pay Off My Credit Card, Now I'm $30,000 In Debt!
VloĆŸit
- Äas pĆidĂĄn 1. 03. 2022
- đ” Create Your Free Budget! Sign up for EveryDollar âź ter.li/6h2c45
đ±Download the Ramsey Network App âź ter.li/ajeshj
đ Visit The Ramsey Store âź ter.li/7vyom2
đ Have a question for the show? Call 888-825-5225 weekdays from 2-5 pm ET or send us a message ter.li/n88ly5
Explore More Shows from Ramsey Network:
đïž The Ramsey Show âź ter.li/ng9950
đž Smart Money Happy Hour âź ter.li/9gcp3d
đ§ The Dr. John Delony Show âź ter.li/2u3mc0
đ° George Kamel âź ter.li/1elws8
đĄ The Rachel Cruze Show âź ter.li/n2u6jc
đŒ The Ken Coleman Show - Highlights âź ter.li/1rbjr2
đ EntreLeadership âź ter.li/ktxv2k
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
When my money was out of control, I would avoid videos like this.
Now Iâm in control Iâm binge watching them. Just goes to show how we put our heads in the sand to forget about it.
đđ
You have to be obsessed in order to succeed.
Live on your wifeâs salary (assuming no kids) and pay off the debt with your salary⊠DONE!
I make $70k a year (single) and had $150k student loan debt and $185k mortgage. Started listening to Dave in 2016⊠had my student loan payed off by 2020⊠lived on $20k a year and used the other $50k to pay off debt. Now taking huge bites out of the mortgage payment! Should be completely debt free soon!
IT CAN BE DONE!
@@Splexsychiick those are just excuses to keep you where you are⊠you can always form a plan to do better
Wow that is great you rock
That's a great way to destroy your marriage.
@@Splexsychiick He didn't say it was easy, I am sure it wasn't. But you have to put a plan in place and figure out how to move forward. Not sure on his situation, but not getting into this situation in the first place, hence why Dave + Team is against cards period.
Paid
When I get the urge to make a big purchase I don't need, I watch a Dave Ramsey video. He has saved me thousands. Sort of like a therapist.
This is why Iâm here
We need a club because this is accurate!
And the fact that you didn't need an actual therapist saved you even more
Me toođ
Ditto
You got this my man. People have got out of worse situations
HeLpLiNe đŹđđ.
Kind of an average American. Makes ok money. Broke. Car debt. CC debt. Not having debt is an amazing feeling I am telling you. It is true freedom.
Itâs really pathetic. He was about to cry to Dave. Making $95k a year in America!!!
@@Originalman144 yep. It feels good to spend though without thinking of the consequences.
@@Originalman144 thatâs nothing
Yes yes yes!
@@midlifecrisis7888 well depends on where he lives, in the Bay Area here $95K is not much.
His emotional tone was actually the opposite of sad. Whatâs sad is when people call in to whine, but act entitled like they should have been able to get away with digging themselves into a financial mess. Gabrielâs voice proves heâs reached a breaking point. The emotionless people oftentimes have not.
This is the reason why Dave Ramsey is so popular. People are just terrible with money and need a savior that tells them stupid and go rice and beans.
His empathy too. Iâm not a Ramsey system person, but my first instinct is to be annoyed by this guy as a sad sack loser who canât control himself and react with scorn. Dave reacts with love and support.
Indeedđ
This is a serious issue in America. Millions of people are in this man's place today.
This was actually amazing call. If you don't want to sound like him due to the heavy feeling debt has on you, do something.
And it was not another psychotherapy class!
@@webfreakz I think inadequate spending stems from some psychological issues and complexes
HeLpLiNe đŹđâïž
My cc hi Mark was $27,500.
Now $0
Now my home paid off
$41k in the bank
I make $54k
It was rough
Many times I had to say no
Many times I was laughed at by
Co workers for eating cold oatmeal
For lunch.
Life is good now
Awesome story
Well done, you a rockstar.
@@westbccoast Iâm very blessed thatâs for sure
đ€Ł
Thatâs amazing. That is great discipline. How old are you?
This broke my heart listening to him, glad you were able to take his call and guide him in the right direction!
To the young pups out there who think debt is just a part of life these days, listen to this man's voice. You can hear the dread in his voice. There is nothing in this world money can buy which is worth carrying that level of stress on a daily basis.
In October 2018 I was $77, 711 in debt. Following Dave, as of June 15, 2021 I was $0 in debt. It suuuuuuuucks to get out, but you can. I made the same amount as this guy and his wife, btw.
Congrats! I currently have 4,000 in car loan debt (which will be paid off before the end of the year) and 30k in student loans. I just keep reminding myself to stay focused on my long term goal of being debt free.
Whattt I need to this ASAP!
đ„ đŸ
The first time I heard a man cry on this show. I pray he gets that fire lit that he needs to get this done. My story is the same and Iâm back watching DR so that I keep hearing him when I think to do something stupid.
This poor man. I know he put himself in this position, but he sounds so broken. It really makes me sad listening to him.
it's not "are you going to do it?" its "you can and you will do it." You got this
HeLpLiNe đŹđâïž
CCs aren't for everyone
Like alcohol for alcoholics.
Dave: âIâll show you howââŠ
Gave me a sense of relief when he said that.
He has got to figure out where all of his money is going to every month, first step.
HeLpLiNe đŹđđ
At least he didn't sign a 2 million dollar spa loan!
đ€Łđ
Or owe 200k for a tuba degree...things could he much worse.
@@markg999 This cracked me up
@@markg999 đ€ŁđThe tuba degree call--that was a classic.
The sba guy is in good shape, unless there is literally a spa guy
I think he spotted the problem and is genuinely interested in making the commitment this time. Probably more embarrassed and disappointed that he lost control of the situation.
His voice says it all, he's reached a dead end
Omg the hurt in his voice look we have been there and when u get to the point of being sick and tired baby let me tell u
I am engulfed in the Dave Ramsey series because he made us look at money differently
This really pierced my heart. I really felt his pain. This videos really help keep me in check. I now understand why they named their educational institution âFinancial Peace Universityâ. Peace is priceless.
My friend: you got this! Praying your strength, health and wealth.
Small debt. Can easily pay off with good income
HeLpLiNe đŹđđ
The more I listen to Dave Ramsey the more I have come to realize how stupid people are with money. The big question is how can intelligent people who make good money be so stupid with something as simple as not spending more than you make. How hard is this?
From what I've seen, for some spending seems like an addiction that smart people can't always control. Like gambling or whatever, I knew a person that shopped almost every day.
Internal void? Psychological issues? I bet majority of the debt unless medical or student loans are due to impulse buys.
Impulse control? Lack of willpower? Lying to yourself? A lot of this comes from not thinking you have control over this, that it is someone else's fault for not having enough money, becuase it is easier than planning a budget and sticking to it.
@Aristaifly I've heard Dave say it, "most car accidents happen right on the showroom floor." Like some of us, I'm sure I made some poor choices in the past, thankfully I learned from it. For others, it takes a little longer and maybe a few calls to the Ramsey show. đ
In the United states, this is very hard. It's a pandemic from ocean to ocean, border to border.
Life is hard, but please don't bury yourself so far into debt you cant see day light anymore. There are always things you "need" or want, but have some self control. You can do this.
HeLpLiNe đŹđâïž
self control.... perhaps. I personally cut corners and did everything in my power to try and save a buck. I penny pinched and still do.... this is one of he ways I have created wealth.
Sucks not being able to buy stuff what you want
I've been where he is, albeit not that kind of income lol, but made it through the hard times, lights turned off first time ever, eviction notice on your door, but happy to say hopefully debt free come May. Hang in there man and a special thanks to you Dave, you kept me energized and steadfast with your videos to make it possible.
@bill joseph Hi and well not exactly by May, but only because they continued the moratorium and student loans until August so I figured I might as well just keep paying on it til then, but I will be in August, further extensions or not, but I could now at any time I wanted.
Sounds like a good dudeâŠheâs just beaten up right now. I bet the $30k was just living expenses & precipitous spending!
It probably wasn't bills. Fast food and random spending adds up to a lot of money. When I started budgeting I discovered I was actually spending double what I thought I was.
@@littleripper312 absolutely, write down what you spend daily and multiple by 365âŠitâs crazy how it adds up
Willing to bet majority was restaurants.
living expenses aren't 70k-95k every year. Not in the DETROIT!
There are some who are successful with ccâs but most of us donât have the discipline
yea only some of us are gods. not you included
HeLpLiNe đŹđđ
@@musicpro7278 controlling your own impulses is not a god level thing lol
@@Shane-fh4uu see why you're not a God. You can't comprehend things. That was just one example.
These are the calls I'm here for đ . Sorry but it's true
I love you Dave!
Follow Uncle Dave's advice and you will be on your way to debt freedom. All the best in your journey. Blessings!!!
Thank God ! Dave reached out and held his hand. Managing finances is so crucial and unfortunately none of us are prepared for that during our lifetime, unless someone like Dave teaches simple rules to follow.
His mind is like being contained with the debt numbers.
HeLpLiNe đŹđâïž
"Cause I have $30,000 in credit card debt."đ¶-Peter Griffin
Good luck! You can do it!
He rationalized all his spendings. Just like the âI deserve itâ type mentality because I work so hard.
@@wordsalad01 my sister is like that. Doordash, ubereats, you name it
Lots and lots of people do this.
Dave didn't ask if his wife was willing to do FPU with him, he just assumed she would. I don't think that's a safe assumption.
They have a good income, I feel like I am missing something. $1000 per month would have this almost halfway paid off in one year, but with their income they could do more than that. It would be a good idea to cut as many bills as possible. I hear a lot of fear.
Feel terrible for this guy; he sounds very defeated.
I think you mean stupid
I'm glad he's so depressed before his debt got really bad. He will fix this up in no time if he truly changes and his life will be great. Once he starts paying off even that first $1k he will start to get excited. I remember paying off the first few thousand of my student loans was like a drug.
HeLpLiNe đŹđđ
This guy sounds like he has an addiction that he's not telling them about.
Yep. Something else is the root of this.
@@takeitback-financial2808 what does his wife have to say about this.does she also spends.of is it just him.he said nothing about her.
Gonna be ok. Go to God for help first.He opened so many doors for me this year but i had to ask Him first. Do not give up đ
Lol clown
Gabriel has the debt mindset. Time for Dr. Ramsey shock therapy.
He is not a Dr.
Transfer that stuff over to a 0% 18 month card and get out of debt on your terms with no interest.
Exactly but dave will never give that advice. It makes to much sense.
The first time Dave didn't respond with "Better than I deserve." It's a miracle!
He gives a different answer from time to time just to throw people off haha.
I picked up on a hint of "hurry up we're running out of time" in Dave's response there as well
Let's address the reason he didn't pay the credit card full balance monthly. That's what got him into trouble
This is why we can't have nice things. People with no self control. Don't feel sorry one little bit.
How does that prevent others from having nice things?
@@genxx2724 exactly, just because a person use a gun to kill someone doesnât mean we all canât have gun right?
@@jml9550 Does he mean nobody can have nice things unless they rack up debt to obtain them? Very poorly worded. People who get out of debt, live below their means, save and invest reach the point where they can afford nice things. âLive like no one else.â The problem is, when you reach that point you donât like to spend money.
I'm not gonna kick a man when he is already down. Nobody needs to feel sorry for him, but if he really is at the bottom and decides to really change, then he will learn that self control. Self control does not come naturally to everyone, and unfortunately we sometimes learn it the hard way.
@@genxx2724 not me, I am worth $3.5M with no debt and with plenty of liquid. I can buy that new Porsche in cash. but I ainât gonna pay that dealer markups. It is a toy not a necessity. BTW, my wife and kids knows how to spend more than me. :)
Saw this headline and thought "did I call into the show?" I did the same exact thing with the same ammount of debt
Been there...done that...not fun....but most wont do it...its ashame...others think dey smart...but not...
He sounds beaten up heavily by this debt. Dave should have gone on a rant after that đđđ
Need a budget, need FPUâ€ïž
I mean unless youâre out of work And living on cc to survive how does this happen??
Vehicle repairs are draining him. .. it's not part of the day plan however it might make sense to take out a loan to buy a decent truck and then focus on the baby steps
I am retired with mortgage paid and no debt. Its not too late and you will get out of this mess. You will thrive after you cut up your credit cards and live in cash.
How does anyone rack that much in cc debt? No idea
HeLpLiNe đŹđđ
A few trips, car repairs, and tires, maybe pay a few bills. Honestly our family spends like 60k a year to get by and we are scorched earth basically so I could see indulging just a bit and it wouldn't take long
Omg. 30k. I only owe 8k. Mortgage. No way sell the mini van. Omg. We have no car payments.
We have a great used clothing store. I only make 25k so no Choice but i never get into debt
I got this Dave! Time to sleep in your car and eat ramen noodles!!!
Nice handle!
Poor thing debt has him so depressed!
Sounds like they have impulse control issues with spending.
Uncle Dave â„ïž
HeLpLiNe đŹđđ
I like how Dave belittles debt consolidation companies like they're some evil people. You have to go with a reputable, compliant, honest company who is accredited by the AADR. There are plenty out there. I was $42,000 in debt and it all got paid off and settled in less than 36 months. I didn't need to sell my car, live on scraps, and completely alter my life. My credit is already back in the 700 range and I've been out of the program for almost 2 years. I'll willingly pay a company for an earned fee for doing all the heavy lifting and getting new repayment terms in place. It isn't for everyone, but it damn sure beats the way Dave preaches it in my opinion.
I'm so freaking scared to burrow any money. I feel sorry for him
Dont thought, plan ahead and u should KNOW u have the money to pay it
Dont blame the card, blame yourself
And cc is a good tool
Yeah what is the card or money if I donât spend it :).
Run it up to $60k cc debt then claim bankruptcy..... YOLO!!
This guy gets it.
Easy way to catch a Fraud charge.
Have you tried it yourself?
Smart business people have dual citizenship for this very reason. No need to declare bankruptcy, just skip the country & start again. Just don't come back.
@@danmclaughlin1180 nice.... Dual citizenship.... I thought you were going to say... Claim bankruptcy using one citizenship and stay using the other one day to day.
I am happy . I got a debit card. But, use it cost me two dollars every time. If I didn't have enough money inside the bank they canceled my purchase.
Still the bank make money for whatever card you use.
Lol
Change banks!!!
I'm not sure what your banking situation is. My bank does not charge a fee on my debit card unless I take money out from a ATM that is not theirs. There is no charge for purchases. Look for that. OR buy $100 or $500 dollar visa gift cards with a 1 time activation fee ($2.95 or 3.95?) and use that as your debt card. Not the best option but better than what you are doing.
Why is it always a truck ?
Can someone explain why debt management companies donât work? Dave seems to be against them but doesnât give details.
That guys burned out!! Hope he figures it out.
Those debt consolidation people are criminals
Falling off da wagon đ
I how I get a hold of this guy?
Wonder how hes doing now.
Gonna have to work doordash or other food delivery as a second job..see your wife in a couple years lol
What did he spend $30k on?
I can easily spend a hundred on meals a day, designer clothing, new phone and computer every year, vacation, weekend getawaysâŠ..I can think of another 10 thousand things.
@@jml9550 The thing with fast food especially is it's gone after you eat it so you don't visually see how much you're spending. I discovered I was spending double what I thought when I did a budget.
@@littleripper312 If you spend $10 a day on fast food, it would be like $4000 a year. If you spend $20 a day, it would be like $8k. Chances are one is spending $20 on fast food if they eat at least two meals a day. It's not bad financially to do it (probably for health reasons), but that means you need to be making AT LEAST $146k a year after taxes.
Apple Products, Pelotons, eating out everyday and going to movies, vacations, shopping at Whole Foods.
@@cgasucks you nailed it , Whole Foods lol
30 k isnt that bad
Anyone can pay if they have okish job
HeLpLiNe đŹđâïž
Not with 12% interest (which is low-balling). That's $300 a month just to stay level with interest.
You could pay it eventually.. our family only has a 1k snowball a month. Add on the interest and that would take years
@@Lady.Luck. yeah some have like 200k+
If you've watched Dave
Also these people r educated n have degrees n jobs but still have 200k
How foolish does one have to b
On What?
đŻ
If they donât simplify their lifestyle then they will never get away from Debts for sure.
Good contribution, Kenneth, but an even greater collar you have.
In fairness, Dave tends to dominate the conversation and most of the time the other person can only interject when Dave offers them an opening to talk.
Which was the better collar, Kenneth's or Gabriel's?
Dave doesnt let him speak.... the tension is clear. He should just do his own show cis we wanna hear him.
I graduated university with about 2K in the bank, got my first job and at the end of the year I was about $5K in debt, I then got a $10k raise and at the end of the next year I was $10k in debt. Why... cause I partied like it was 1999... I don't regret it and would do it again.
Your not Prince, john!
@@alinatamashevich3354 It took me a few more years before I started to save and I stopped going to the bars. Point is, when you are young you also want to live... and I lived ;)
@@johnSmith-uz8nl Ukrainian Discotheque?
@@alinatamashevich3354 Yah... don't like to think about Ukraine, it is too sad.
@@johnSmith-uz8nl Agreed, I am from Belarus, not happy.
You don't go from paying it off every month to 30k in debt without being completely irresponsible with your life.
The biggest issue that I see with this caller is that he lives in Detroit! Joking aside, most people can fix their financial issues, it's not having a plan that's the biggest stressor.
Listen hear I make less than you I'm determined to get out of debt no matter what if I can do it on one salary you should be able to do it on two
Ken? You there?
HeLpLiNe đŹđâïž
I don't borrow money i can't pay back.
get a new truck!!!!
We have all done stupid
đŹđđthanks for watching
you can send a message.
Yes, we all have. Even if we haven't done the same type of stupid as someone else.
Hard to say where the money has really been going. Perhaps the "significant other" has a shopping habit or has 30 pairs of dress shoes in her closet. Maybe children that are indulged with the latest toys,cell phones and motorized toy cars.
What do people spend so much money on??
Considering many households spend like 90k a year, it's not hard to conceive
@@Lady.Luck. omgâŠIâm definitely not in that group. I canât even seem to pay full price for chicken. I wait for it to go on sale đ
The daily stress and anxiety and shame of being in debt and a slave to your credit cards makes it worth getting out of debt. Eat ramen noodles and chicken legs for 2 years. Get the hell out of debt. Your entire life will be happier.
File bankruptcy đđ
Gambling
đ€đđđâđ
Third
Second
69th!
HeLpLiNe đŹđđ