You CAN Break the Cycle of Debt Holding You Back | January 11, 2024
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- čas přidán 10. 01. 2024
- The Ramsey Show (January 11, 2024)
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"There is zero obligation to give someone in your family money." Amen!
Imigrants come to America and live three or four generations deep in a home. They all chip in and support each other growing businesses. It's custom in many cultures to support parents in their twilight years. This idea of being self sufficient in America is a failure. We would get so much further in life if we worked together.
@@rjthomasindyusa Nah, competition is better
I literally just let an uncle borrow 500$. First time shame on you, second time shame on me
Dave: “there’s this neat thing called the military” for med school hahahaha. Love it. I wish more people took advantage of how the military can get you ahead
I wish they would have more people with low incomes on the show. Many of these people are making hundreds of thousands of dollars and some are 10 plus years younger than me. that kind of makes me feel like i can't do it on my income. I just want a story similar to mine to help motivate me to pay off these debts
My wife and I started at around 23/25 years old with an income of less than $40,000. Today at 31 years old we make $190k because we decided to get bachelors degrees in engineering. No joke, I quit my job and walked straight to the university to figure out how to enroll.
They were like you..that's the point..they've changed
Income. Increase your income.
I grew up without parents and i am single.
I've got a degree but no job here is paying that much money. Recently laid off and just trying to get by
Please avoid student loans. Get a free courses first that can be transferrable. I took free courses biology, chemistry, anatomy in preparation for med school, I realized my brain is vomiting and I'm not interested in those topics. Then I took a course in psychology and I like it, I'm interested, I can't stop thinking about it so I know this is the one for me. I'm working full-time 40 hrs a week and studying psychology at night. I will only take 2 subjects per semester so I won't burn out and can pay them in cash. I drive the same car for 10 yrs and did not buy a new one, just maintaining it. No student loans + No car payments = Peace of mind.
Where did you find free classes?
@@itstiffanydarling clicked on the comment to ask the same question. Lol
S@@yeni_daughterOfGod
MIT OpenCourseWare has a ton.
My parents told my 4 siblings and I that it wasn’t necessary for us to go to college.They were right.I quit school at 17 to join my father in the full time ministry.We worked nights stripping and waxing convenient stores until 6 a.m. came home for a couple hours of sleep and then ate breakfast and went out in the door to door ministry all day.
We gave freely as Jesus said “ you received free give free.”
My other siblings also gave some of their youth to the ministry freely .
Later all of us started successful businesses .My father, the patriarch of the family had An 8th grade education but had many successful businesses.
He started a carpet cleaning business and when he was ready to pass it to the next generation my husband and I started our own company.We have been proud owners of our family owned business for 35 years.( all without a college education and student loans.)
Our daughter took cosmetology in votech in high school, then graduated and eventually became an instructor, worked in a shop and when her mentor , the owner, retired my 40 yr old daughter bought the shop and is doing very well!!! 9:41
George Kamal's "Breaking free from broke" is a great book. How about breaking free from woke? Give it time, educate, the truth will take root and we will be GREAT again amen. Now lets get back to work. Im 68 and will never stop working at what I love doing alterations and doing all sorts of side jobs. Glory be to God amen.
Dave was on point with the female veterinarian who is a new mom... and how challenging it is being a vet and knowing multiple species.
Why do they think $3,000 a month income is like living in the poor house?? 🤔 Our household makes that much, and we have baby steps 1-3 accomplished, we are able to pay our bills, put food on the table, we have no debt, AND manage to save $1,000/month toward a house down payment!!
When you live BELOW your means, you aren't in the poor house!! It can be done on $3,000./month!!
It all depends on where you live. Obviously, in your area, it's enough money. I doubt someone in a HCOL area would agree. But good for you for making it work. You are amazing!
@@bettedavis9261 HCOL?
Cost of living - esp mortgages - varies by area, but your point is well taken.
You would be in the poor house on that in most of America. Income doesn’t matter, its location.
@MamaLove2118 Income does matter depending on location
If you had half a brain and latte enough complacency to actually get off your ass. And do some research on a United States state-by-state. Call steve living versus income ratio you and know this already
Here's a perfect example
I'm mike a little over thirty seven thousand dollars a year before taxes
There is no way in all of reality that I could successfully survive in live by myself throughout most of the state of California on my income as high cost of living the entire state.
However
In the state of Tennessee or Mississippi, I would be just fine and would actually be able to progress through the babystips. Volving the book total money makeover as I have been
Again not rocket science it's called critical thinking and actually doing your research.. And putting down the hulu netflix paramount plus disney plus in any other streaming service for a while.
0:48 started baby steps, and overwhelmed by debt versus income. Followup: PMI (private mortgage insurance)
4:58 no debt other than student loans, how do I avoid more?
10:00 plugging the livestream
13:15 realtor finds it difficult to help buyers get pre-approved while they're in debt
21:00 debt-free scream
32:53 letter: I'm debt free and my brother has asked for money to pay his tax debts. I'm resentful
37:37 I have credit card debt and we want to debt snowball, but we need another car
43:24 I'm getting divorced and I'm getting some cash from selling the house. How do I protect this cash from myself while I'm still going through grief?
48:54 life insurance?
54:30 27 and living with parents. I don't want to rent. When should I get a house?
59:35 I want to "retire my parents". Where should I put liquid funds to make a return?
Legend
@smartwinner3136 literally
Time saver for sure because I’ll skip every 19 or 20 year old who hasn’t made a mistake and calls in for advice
I'm about to be 40 and our house will be paid off by the time i am 45
I was having a dream while this was playing. The family I was dreaming about were bouncing on the floor and the mom was in a wheelchair. I listen to Ramsey as a sleep aide. Anyway, I woke up because I heard Dave say, "You're looking at weird people!" I opened my eyes and it was standing up people. 😂.
Another great show with fantastic advice..especially how to talk with other people about "sensitive topics". Love it. Yep, no one has ever changed their ways by people wagging their finger at them. Talk to them, share your story.
Amen to that! I enjoy listening to the advice that's given to the callers. I unfortunately had a parent who wanted to make me her retirement plan, so I never learned proper financial discipline. I realize now that financial discipline begins with ones beliefs and thoughts about money, so with God's help through The Ramsey Show, my beliefs and thoughts about money have changed and continue to change.
So grateful for solid financial advice that works. Dave's discipline is a proven method.
DAVE RAMSEY ROCKS
Great debt free story. Congratulations.
Get life insurance! Not only is it cheap when you're young, but a lot of people don't realize that in the event of an unfortunate death, a person does not pay federal taxes on life insurance.
There are many ways to pay for college. High school students should take AP courses for gen ed requirements or Dual Credit classes. Students can join the military (National Guard Reserves, for example). Students can start at a community college which has a low enough cost that they can cash flow. Students can self-study for CLEP exams (computer-generated) for gen ed credits and then pick a college that takes CLEP credits (85% do.) Research how to get CLEP prep for free or low cost online. Work for a company that has tuition reimbursement. Be sure to do your homework and communicate with the college where you plan to finish a degree to make sure these credits will transfer and fulfill gen ed requirements - but it is possible! Obviously, applying for scholarships is also another way, but most people know about that.
The advice to not go to medical/dental school cause you don’t qualify for the few hspc/military full ride scholarships means we wouldn’t have doctors/dentists. Take my dental school class: 3 got military scholarships, 1 got the public health scholarship. That was it. 4/100 students were smart according to Dave. The other 96 I guess should have just skipped Grad school. The perception you are selling is that these scholarships are just there for the taking, when that is just straight up false.
I am so sad I missed the live stream. I planned on watching it and I was so busy with the kids after I got home from work. I need to watch the next one!! 😢
There is no difference between the life stream and watching it now. Don't fool yourself.
You can still watch it. Go to your subscriptions, and it's in RS.
It was totally cringe, just advertisements for Ramsey products the entire time. No advice, no callers, just all hype. It was like being at a faith healing convention, a bunch of excited people yelling and saying nothing.
Frankly, I didn't see much new there - just all of their personalities (except Ken) having some individual time and an explanation of Every Dollar and promos for the books. If you watch the show regularly, you'll get the same info.
@@hollisterlasers-ion8939 exactly! It reminded me of being at a Christian worship service, minus the Bible verses.
Always love your stuff, Dave! You are an inspiration to my lifestyle! After bad habits formed in a legal union that ended after 7 years, I got my life back on track. Keep doing what you do!
👏 🙌
Great show!!!!! Praise God!!!!!
Snopes actually refuted the Chevy Nova "no go" legend quite nicely. Go check it out if you're interested.
I think some people call and say "I have student loan or car loan, but I don't have any debt" to get a reaction from Dave 😂😂🤣🤣
I find it strange that all these people paid for their degrees using student loans, which they then paid off, and they advise everyone else not to take on student loans!
That is not strange; that is an experience they got first hand being shared with you for free.
love the intro music
I agree with making cut backs but I wouldn’t sell any of my stuff to clear debt unless I had to.
We selling everything but the kids!!
That's probably why your in debt..
I'm working toward Debt Free in 5 years. Trying to do the Baby Steps. 1/12/2024
It is not 1 December.
In the U. S. it goes in this order
month (January)
Day ( day of the month)
Year (2024)
So it is correctly labeled🎉.)
The whole USA is wrong (like with so many other issues, so it is not correct. Americans refuse to be correct. @@vanessaruesga980
05/10/2027 I’ll be 60 my husband 70 & it’s our 25th wedding anniversary 🎉
Dave and Jade rarely mention the "Give Generously" aspect to all these millionaires who have so much to give. 😢
Collection agencies say "pay up or else or join the military". If you can not afford collections that you owe, there are social security benefits and welfare to help you out. Then to go further, based off of your credit score, your house can be refinanced down to around $350.00 a month. It costs approximately $1,100 a month to own a home with basic necessities.
Hahaha a house refinanced down to $350? Please the monthly property taxes are $700/mo
Im also laughing. $1,100 a month is not even enough to cover my rent let alone food, other bills and utilities. Where are you located.
Well, you can laugh all that you want. Even laugh at yourself when you make an ass out of yourself by laughing at me. But it's called an FHA loan, or a Federal Housing Loan from the State. If you want to pull your head out of your ass and learn banking, the classrooms are not full. Things are not as expensive as your delusioned socioeconomic class jargoned minds believe. But yes, you can actually refinance your house with a government program called HARP {Housing Assistance Re-Finance Program). It's based off of your credit score. Meaning, that if you are good with money, the less you pay a month. Credit scores, meaning Fico credit - a calculated score with collection agencies when someone gets into debt. Pay your bills on time and in full and you credit goes up. Failure to pay and/or bankruptcies, ruin it.
The problem with medical school is you don't really have time to work if you want to succeed. The biggest risk of medical school debt is not finishing and having a mountain to pay off. Some hospital systems will offer to pay off the debt for you if you sign with them. The other key is you avoid doc-itis and pay off your debt during residency. It is way easier to come out of undergrad debt free than medical school.
I can't imagine working while in medical school! Studying is a full time job when not in school.
Very true and the same applies for vet school, dental school, and law school. The major risk is not completing AND passing the boards (or bar) and then having the debt without a high enough income to pay it off.
That shows Ramsey's unreasonable side. Expecting a full-time medical student to work 60 hours a week is simply absurd. It'll only cause them to fail school and be trapped in debt.
No. What is unreasonable is embarking on a medical degree if you don't have a million dollars already at the beginning. @@ThePolypam
@@ThePolypam exactly. Med school, dental school, law school, will all gladly fail you and send your butt home. And even if you manage to hang in there, you'll be outpaced by your non-working peers, in programs where class rank is vital.
I teach at a law school. I can't stand it when new 1Ls inform me of their plans to work during law school. I try to tell them that time spent working at a crummy 18/hour job will likely cause their class rank to slip below median, thereby making them less attractive to possible summer internships, and having a lasting negative effect on their whole entire career.
1:00:39 I understand what Jim is doing. He is grateful for what his parents has done for him and he wants to assist, retire or whatever the wording might be. Over the past year of listening, Ramsey show has this notion that we shouldn't help our parents. Although I agree 100% that parents should not financially depend on kids but to discourage someone from blessing their parents as they see themselves financially well in next 5 yrs is just insane. I have heard some stories here on the show where parents depend on kids and thats not right. But when kids talk about wanting to help or bless their parents, they seem to immediately say "that's not your responsibility" or whatever..just dont like it..whatever happened to "give" part of your financial journey? Do we just give to church and institutions? It's ok to "give" and bless our families too I would think. Maybe Dave just didnt like the verbiage of Jim saying he wants to retire them. But I heard it differently..
So well said. I totally agree. It was a bit heart-crushing to listen to. What a wonderful young man to want that for his parents. I feel that he’s going to go ahead anyway…I hope. It was so important to him.
The Bible tells us at 1 Timothy 5:3,4 that if our parents or grandparents need something it starts with their children and grandchildren to give them “ due compensation “
As the oldest daughter of 5 children and the one with the circumstances to care for my dad these last 7 years, I proudly sacrificed my time to be his full time caregiver and property manager for his 2 rentals ( through a fire, remodels etc)
Due to my dad’s advanced Alzheimer’s disease and my husband’s heart disease and spinal stenosis worsening it has now become necessary to have daddy live in an Alzheimer’s unit near my house.
I have no regrets that I spent these last 7 years giving “ due compensation “to my daddy.
I cherish the time we spent growing flowers 💐 and vegetable gardens and sitting on his swing out front of his trailer admiring all our hard work.
I gave him all I had to give so he could enjoy as much time as he could before this horrible disease robbed him of his mind 😢and i would do it all again.!!!
Jesus Loves You... Yes, You!❤
If I was a divorce lawyer I would be advertising on this show like crazy, All these dudes calling in from all this debt their wife created 💸💸💸 along with the brainwashed consumerism we've all been raised by
I love Jill's shirt❤😊
Good time to buy?
Does anyone know where the livestream is being streamed on tonight? I registered but have no info. Thanks
It's right there on their youtube channel. Click on their channel and the video is on top. It says "Break the Cycle: Stop living paycheck to paycheck" - upcoming
Hello all!
I’m hunting for Dave’s jacket in this show, does anyone know the brand? Happy 2024 to all 😊
Watching
Is this the giveaway livestream?
When someone thinks they know everything lol 😂
Anyone know what episode this is?
Where can I purchase the sticker on your computer? "Better Than I Deserve"
You can always have a custom bumper sticker made.
They're on the website under merch. I have one. :)
Jade said Nova means no go, it means New!
You’re correct about the word “nova” meaning “new” but Jade actually said “no va,” which in Spanish, means “no go.”
@@BeeDee-qs9so New is the Latin definition for Nova and that's the original
@@Gdragon516 👍
This information is so important that you guy have too tried have multiple language. Many people will benefit from this.
I was watching love but only heard one winner of the giveaway. How do we know who else won?
You had to watch the chat which was very difficult to do as the comments flew by at lightning speed due to the number of people watching the show.
They sent out an email with a list of names afterward.
Also listed them in the description.
Great
Nathan, your wife does not "watch" your daughter - it's called PARENTING, no matter which parent does it.
I mean i watch my kids i parent my kids. I dont baby sit my kids.
So we’re supposed to say “my wife parents our kids while I’m working night shift”? Learn something new every day.
Sort of like ‘Adulting”?
where is the live stream?
I can't find it either and I see others that can't, have you found it yet?
It's on their highlights channel. I found it streaming by clicking onto the main page for THIS channel. Don't worry, they stay up after the stream as a regular video. @@MoiraMacLean
I'd like to know how someone in law enforcement and an administrative clerk, made more than $700,000 to pay off their house in three years.
I think Ramsey should have asked them how much money they made and how much money they inherited because there's just no way that they could pay off $700,00 in 3 years on what they make
There are in state schools for dental medical as low as 6,381. University of Alabama dental school 8,567. University of Oklahoma medical school in state, 7,463. All of these kids saying that education is high are going to high end schools and it’s all about status not education. You get out of it what you put into it. It’s like me saying handbags are not affordable, i have to take out a loan to get a handbag, nope u can pick up a handbag at Marshall’s for 20 bucks, but I want a Hermes handbag, it’s my dream. I know it’s 25,000 but I’ll just take a loan out. Sorry you put yourself into debt by purchasing an education you couldn’t afford
Those are trash
Wrong. I just went to the university of Alabama dental school's website. The cost is $31,900/year
Ooooh getting rid of the exterminator🤔…🧐…bruh
Don't get a mortgage pretty simple.
I find it hard to hear people advising to avoid student loan while most of them gained from it. Life works in different way's, your way may not be another person's condition. Yes is good to be debt free but nobody wants to owe debt.
You are the realest person in here.
When life turns so easy for someone, he/ she don't know what others go through. And this make people arrogant and they feel they know it all.
@@ElliotBurno When some people thinks they know everything. You can only be debt free when you have a good investment plan.
@@KevinArpin-we7bd 100% right. How will one avoid debt if not having a good investment plans with the rate of inflation that we are facing now.
@@AnothyLongman2 Google of Linda Sue Baier and have a conversation with her first.
570k paid off in 45 months? No there’s more to that story. Hey didn’t pay that debt off by just their income and selling a few toys. My guess is the house they sold, they most likely made a profit and rolled it over into the new house, paying off a good chunk initially. They’ve been following Dave for 20 years so their million in retirement was probably allocated over the past 20 years.
I don’t see how any of what you said matters
Jade is so good in this episode lol Dave and her lol
Am I the only one who doesn't get the whole "God's money and assets" thing? I mean why would a supposedly Supreme omniscient being care about a man-made concept or material goods?
There’s a 0% chance I’d sell my sports car so my wife could have a bigger house, especially when the kids are adults. Nope.
5:03 to 5:13 um... Hey luke... Big damn hint.... Student loan is a debt (facepalms)... Damn this generation is a sharp as a bowling ball
"Sharp as a bowling ball" I'm stealing that one!
@ses-ei7oc The first time I heard that precise group of words AK phrase was from the voice actor of the character fogHorn Leg horn of looney tunes cartoons
I think the line in that particular episode of that cartoon involving that character and a tiny little bubble headed nerd chicken was something like.
Nice boy but about a sharp as a bowling ball
I'm totally using that tonight. Thank you!@@motoryzen
It's a variant of the more common phrase "sharp as a marble". @@ses-ei7oc
What are the tips for stop living from paycheck to paycheck
Stop spending more than you make. You don’t need to stop at that gas station to get a soda and snack, you don’t need new clothes, you don’t need to eat out at all. I found that with me it was a spending problem, not an income problem.
I currently make 20000 for the year and with my expenses it comes up to 14400 for the year.
@@forrestmiddleton1709 You need a better job or a second job.
You need a new job, my friend
I live in Belize 🇧🇿 where cost of living is high but to the US dollar it’s 1 US equal .50 Belize Dollars.
Turned off show when it turned into an infomercial for your products.
get over it kid... You must been living under a rock because he's been endorsing his own products as well. As products of other connected people for mini many years now
Big hand he runs a business just like any other business owner
And depending on the individual situation it can and often will involve sponsors as well
Good day you all I am in South Africa I love this show 😅 it made me remove my slogan 'The aim is to have not to finish '
All changed I am now starting baby steps one.
Sorry, I couldn't participate, today. We are having severe cold weather on the West coast. Hopefully, next time.
Jade doesn't seem herself tonight.
She’s possibly distracted thinking about her upcoming livestream because she’s still got that ahead of her later
Dave, your attitude on living with parents is ridiculous. The caller said he lived on long Island. He makes 75k which is peanuts for that area. Would you recommend he get a roommate? Well he has one.
You give some good advice but this 1950s "get out of the house no matter what by x age" is absurd. The "grow up" factor is silly.
BTC ETF has been approved! Hope you all aren't sleeping on crypto. This next bull run is about be huge
Is that the bull run that will happen in the 2060s?
@@amireallythatgrumpy6508 lol ok just keep being ignorant
Those who understand crypto just laugh at it. @@jeremy_logan
The south did the original bull run during the Civil War.
This is the motherfucking Ramsey show.
Sooooo!!! Disrespectful😮
I think it was a compliment? @@dorotheaanderson9482
When has Oprah been right?
Never. I still remember buying a novel that seemed interesting, and ended up being terrible. Put it down 50 pages in. It opened with a run-on sentence and only got worse from there. I later found out it was endorsed on Oprah's book club. The guy who wrote it hasn't written another book since, at least not when I last checked. The Story of Edgar Sawtelle, if you're morbidly curious.