It's calls like these that make me feel better about myself.

@shawnhyder6166

7 жыл бұрын

Brantley only reason I'm here

@mzgemini0006

6 жыл бұрын

Brantley me too

@camman6912

6 жыл бұрын

I’m there with you

@lilyann168

5 жыл бұрын

same

@theboyyzeus

5 жыл бұрын

Brantley yessss

Made my daughter go to a public school, despite the fact that akes an excellent student. She was mad, but now that she graduated debt free, she thanks me.

@Roy__Batty

6 жыл бұрын

You did a great thing.

@jaawpreneur

5 жыл бұрын

Well done!

@liveyourbestlife143

5 жыл бұрын

SoulfulVeg .... I agree. I preach to my kids ( they are 9 and 2 ) that they do not want student loans... I don't want them starting life in horrific debt.

@montecarlo4294

5 жыл бұрын

What do you mean a public school? Like a public university? And you paid out of pocket?

@NikaoYouth

5 жыл бұрын

Amanda stone The two year old’s face: 😶 hahaha 😂 Good for you and good for them! 👏🏼

a degree in leadership HAHAHAHAHAHAHAHAHA

@cjay6325

7 жыл бұрын

Shandra9000mail the irony just kills me.

@darkrulier

7 жыл бұрын

she should have joined the Army or AirForce if she wanted to be a leader instead, get paid and as soon as you make E5 (be an NCO), that's when all the leadership courses begin, lol

@A2Kaid

7 жыл бұрын

If you need to study leadership you already failed.

@Dr.sher01

7 жыл бұрын

Making 140,000 though

@mikenelson8377

6 жыл бұрын

Sheryl Fisher $140k...with $650k+ in TOTAL DEBT though. $140k is a lot but it she’s almost triple in debt to her annual income.

i wouldn't even take out 300k in loans for a house. much less a piece of paper i can get 90% off at a public university

@LTJuni0r

7 жыл бұрын

Crishchun Goomah did you take your dad fishing yet? 😂

@Checkersss

7 жыл бұрын

Crishchun Goomah houses in Toronto are nearly a million dollars and it's higher in Vancouver...you'd have to take out a huge loan if you want a house here.

@TheKalbo789

7 жыл бұрын

LTJuni0r all things in due time 😉

@TheKalbo789

7 жыл бұрын

Cass id just rent humbly and pile up $ till I had a sizable down. I have to able to pay it off in a decade or less based on income

@TheKalbo789

7 жыл бұрын

+Dalton Beauregard fitness is just one part of self improvement. 😜

I agree with Dave. Sell the house and throw everything else (including their $140K salary) towards the debt. Sometimes you need to take a step back to move forward.

@blessedwifeandmama

6 жыл бұрын

ominous450 if they waaay down size they can live on 40k and throw 100k to it each year more if they deliver pizza and wait tables they could be out in 2-3 years

@janefromthecountry1820

6 жыл бұрын

I would sell the house & both cars! And throw everything at the school loans! I agree with Dave Ramsey. Its nuts that the govt and banking institutions allow two students to get so much debt for only business degrees!?! It makes no sense!!

@DistopiaKosaki

2 жыл бұрын

@@blessedwifeandmama not after taxes, so it will be more like 70k or 60k

@xsgtxbigboy1655

Жыл бұрын

@@blessedwifeandmamayour just like Dave never add in taxes lmaooo can’t live on 40 and pay 100 a year taxes are indeed a thing

I hope students are watching this. Going to a "good" school that costs 40K per year is not always worth it.

@Tigerkem

7 жыл бұрын

Agreed this kind of information should be required learning for hs juniors, especially to those potential 1st generation college students. Some many good-intention but ignorant people fall into this trap unfortunately.

@daluckyprincess

7 жыл бұрын

I wish I had heard about this back when I was in school.

@ndncobb

7 жыл бұрын

I am the Juan and Only 1) what school offers. BS in Medicine? Typically pre-med students have a BS in a science field, and once you are in medical school its mega bucks (even at a public state school) and 2) what 4yr school is only $6k?

@ndncobb

7 жыл бұрын

Carol T. I thought FASFA was only for those under a certain income, regardless of your grades.... I had good grades but because my parents made $100k over 20 yrs ago when I turned in my FAFSA the counselor looked at it and said I would only qualify for loans, but I can look into academic scholarships.

@mikenelson8377

6 жыл бұрын

Carol T. A counselor is a corrupt salesperson trying to make the school money and lots of it by selling you the idea that a Liberal Arts degree will “guarantee” you a six-figure I come.

I worry about what career I should get into, and some people have half a million in debt. I seriously need to stop stressing too much about my life lol.

@bryanmartinez6600

6 жыл бұрын

Miguel Angel Medina Rise Yolo

@jamesongagne3996

6 жыл бұрын

Yup definitely makes me feel a bit better too. Ugh!

@vickieclark5931

6 жыл бұрын

Most of these people that have that much in debt isin't cause of their degree. They lived like royalty during their college "experience".

@evanserickson

5 жыл бұрын

IT. Learn how to code, I recommend Studio Web. Check out Stefan Mischook on KZread. I'm a big fan and I've actually gone through his HTML and CSS course.

@lriver5766

5 жыл бұрын

My husband has a ged I have a high school diploma, we have a business and make 6 figures. No need to get in debt.

she's not gonna do this. you can hear it in her voice. she called so that Dave could give her he answer she wants to hear:. wait ten years on the debt forgiveness program.

@rosegold.sunset4749

5 жыл бұрын

yep, which apparently isn't even guaranteed... other callers tried to wait 10yrs and got denied. Not sure why people think they shouldn't have to pay back money they used for their education :/

@MrFuchew

5 жыл бұрын

well she is a black woman therefore she is right

@MrCander000

5 жыл бұрын

@@MrFuchew Morons come in all shapes, sizes and colors.

@jborrego2406

4 жыл бұрын

Does that mean they pay off all debt

@dm6187

4 жыл бұрын

@@MrFuchew ok racist. Your comment shows your ignorance. Brought race into something that had nothing to do with it.

If I had $660,000 debt I would have a heart attack!!

@roxannegordon6162

5 жыл бұрын

I think I'd slit my throat....oh wait.....my heart would employed before that happen from stress and fear!!!

@JesusisKing03

5 жыл бұрын

I can't even imagine being in this much debt😱😱😱😵😵

@davef00te

5 жыл бұрын

Yup....time to move and learn Spanish

@aaGirlification

5 жыл бұрын

same thought

@DinaStrange

4 жыл бұрын

good for you, it would be the only way u could discharge it :P

Live in poverty, feel the pain. Never make this mistake again.

@ImOldandSoAreMyBooks

6 жыл бұрын

MAG Poverty can be a very humbling experience.

Unfortunately, I was one of those first generation college students who was told to get an education at any cost. I'm still paying the price for that horrible advice. I was able to save my kids so I am changing my family tree.

@Nonameagain80

4 жыл бұрын

I am first too!

@rstevih571

4 жыл бұрын

Same.

@MsMockingbird06

2 жыл бұрын

Same here!

Loan forgiveness is a joke. I completed all of the paperwork to participate in it after earning my teaching credential and taught at a school that qualified for loan forgiveness and they kept dodging me to forgive my loans. I quickly learned they were unreliable and decided to work two more jobs (3 total) and paid off the loans in 1.5 years instead. DO NOT depend on loan forgiveness. They are dodgy. It’s too risky to take a job that will *hopefully* qualify for loan forgiveness.

@BusArch42

3 жыл бұрын

One of my sisters friends changed to a job teaching in an inner city school so she could qualify for loan forgiveness. It was nothing like the amount in this story but it was a lot. He made it through 8 years of the ten required years and the union voted to strike. Turns out that you have to work continuously to qualify. The strike was an interruption of employment and it reset the clock.

@beeezeee1783

3 жыл бұрын

@@BusArch42 That is horrible. I’m sorry this happened to your sister. Sounds like a typical teachers’ union.

@Thtisha22234

3 жыл бұрын

😕😮

@deshawnenrique5006

3 жыл бұрын

instablaster

they took themselves to the cleaners, there is no way business and leadership degrees should cost you 300k

@herfirstmate

7 жыл бұрын

koolyo2foots Sounds like National University to me, no?

@HomeCentsWithNell

7 жыл бұрын

No, National is a non profit public university. It only costs about $12000 a year for a full time student. It costs even less if you're military.

@ellenlee1

7 жыл бұрын

If you have $300,000 in loans and earn $50,000 ... take home $35,000 after taxes etc....live on $25,000 which is $2,000 a month, that means you can pay $10,000 a year on that loan. You will paid it off in 45 years. at a 4% interest rate. by that time you will be living on social security. $1,000 a month out of your pay check for life or 600 months. GOOD LUCK!

@geoffdearth8575

6 жыл бұрын

Who is paying these dopes $140k?

@billboss4161

6 жыл бұрын

koolyo2foots maybe she went to Stanford business school

Growing up I used to hate that my Dad was so frugal. He was a schoolteacher and had summers off, one summer during which he physically built the modest house we lived in. He paid everything cash, worked hard. When I got to college, I was studying engineering. I saw the other kids having fun and partying when I was studying. My Dad told me, “get a degree in something that you can get a job in when you graduate.” It seemed so far off to me to worry about getting a job when I was in school - all I wanted was to have fun. But I did what he said, and I am thankful I did, because now at 43 I have no debt, live modestly, give back, and have a peaceful life. My Dad lived well by living modestly, staying out of debt, and finding the joy in it.

Makes my $15K student loan debt not seem so bad, haha

@ooofsized2036

7 жыл бұрын

5,000 isnt bad at all that can be paid off within a year

@violettippet5246

7 жыл бұрын

I had 40k now a year later I'm down to 17k.

@katrinaumana2127

7 жыл бұрын

Exactly I paid off $14,082 in Student Loans in under 3 years.

@violettippet5246

7 жыл бұрын

Thank you, I'm low income and I don't know how I did it. :) I only made 33k last year. I guess it's 16 months later, but still.

@wiiiz3

7 жыл бұрын

Violet Tippet, do u think i can live comfortable off 33k with no kids and no debt?

I wish I had watched this show like ten years ago and knew then what I know now.

@herfirstmate

7 жыл бұрын

Vegan Yogi Amber Michelle You're here now! That's what matters 😉

@mzgemini0006

6 жыл бұрын

Amber Michelle I say that to myself daily like why didn't anyone introduce me to him

@jaawpreneur

5 жыл бұрын

I hear you!

@Nonameagain80

4 жыл бұрын

Me too!

@mediolanumhibernicus3353

4 жыл бұрын

Don’t we all!!

An orthodontist who has Harvard and Yale degrees (I saw them in his office during a consultation), has an office off Michigan Ave in downtown Chicago, quoted me $7500 after insurance for 12 months in braces. I paid $2400 for 18 months in braces from a well known orthodontist outside of downtown Chicago. I remember telling myself that I was not going to pay extra for his college education. I paid $5000 less and wore the braces 6 months longer 🤷🏽‍♀️

@rosegold.sunset4749

5 жыл бұрын

WOW!!!

@Frenchcoconut32

5 жыл бұрын

Where did you go for braces??? I live in Downtown Chicago

@ajoyforlife1

3 жыл бұрын

☝🏽

@ajoyforlife1

3 жыл бұрын

Smart move.

The mindset of kids in college is to borrow for most living expenses including food, entertainment, housing, etc. because they think they're going to make big bucks right out of college and pay it all back with ease. Sadly, I remember thinking that way. When you're 18, you know nothing. This is where people find themselves in hundreds of thousands in student loan debt.

@robertbell525

4 жыл бұрын

Yes when I was in college we were told to expect to make $40K coming out of school. In 1991. LOL I started at $17K at an insurance company and others I knew had to start at shoe stores. After a few years of experience and moving to another employer, then i started making better money. You have to pay your dues.

@BethKnox32

3 жыл бұрын

Or they won't even live to pay it off

Good Lort ...... I swear no matter how much bad debt you got its someone in worse shape I feel bad for them

@fpl_bailey

7 жыл бұрын

Tonya Henry I don't feel sorry for them because they have somewhat of a big shovel plus they have things they can sell. It is the people who go into 200k student loan debt and have a 30k or 40k job 😟😟

@JK-Visions

7 жыл бұрын

Tonya Henry why feel bad. I mean their income is more then sufficient to burn their debt in a few years.

@mandykiwi

6 жыл бұрын

I was feeling bad about how much debt I’m in, but I have a plan to get out of it in 3-5 years, the consumer debt in about 1.5yrs and then I’ll pay down the student loans after that. I feel for them but they did do it themselves, just as I did, everyone has to take responsibility for their debts.

OMG! My household income is $150,000 and we are not doctors or anything of that means! My Dad (rip) was a Dave Ramsey clone before we knew about DR. Immigrated to this country. Worked 9-5 making $3-4 hr an hr. Paid cash for his first home, worked the fields on his off days and at the age of 64 paid cash for all 3 homes! I think he was 50 when he got his first credit card at Lowe’s! He paid it off the next day when he went to get more supplies because he hated ‘owing’ anything or anyone! He said if you make $10, save $3, but i can save $5 because i am more disciplined than you kids...lol! He always told us to work hard, save and live within our means and to never take on credit cards or student loans! My mom is a widow with absolutely no debt and is set for the rest of her life with Dad’s ability to save money! Love your channel and advice! Other than a mortgage, i am debt free! Wanting to pay off my house before i turn 40! 5 more years! 😊

@augustwu8340

5 жыл бұрын

Amazing... Thats what my grandparents taught me as well. ❤

$300k worth of 'expensive food'? Critical thinking skills: -17.

@MrBemnet1

7 жыл бұрын

expensive school

@deekayvixen

7 жыл бұрын

I totally heard 'food', lol.

@zebulous

7 жыл бұрын

I heard 'food' too. :-D

@glennakyle9701

7 жыл бұрын

Dorota K

Debt is the devil himself!

This is why I went to community college on cash!

@lijohnyoutube101

4 жыл бұрын

Tessa Higgins YEP!!!

@suzannejones7260

4 жыл бұрын

My sister got her nursing degree from a Community College in the 1990s and she paid $5K. The nursing students she now teaches come out with $60-$70K in debt.

Where did she go to college? Dubai??

@jermainewilliams1681

7 жыл бұрын

The Moon

@Swampertchamp

6 жыл бұрын

Jermaine Williams XD

@petittall557

6 жыл бұрын

She prolly went to Senegal.

@TheChromelover

5 жыл бұрын

Bur Dubai

@percyastronautstatus.8780

4 жыл бұрын

She went to my school....

Hey Dave, I got 400k debt in student loans, but at least I got my two degrees: one in "Frugal Lifestyle" and the other in "Using Credit Responsibly."

@beastfromtheabyss

7 жыл бұрын

fsmoura What?

@cgasucks

4 жыл бұрын

You have 2 "degrees" in frugality and credit usage yet you have 400k in student loans. You failed miserably.

@donhill1825

3 жыл бұрын

Astonishing that people can't identify sarcasm.

@ryandelsignore

2 жыл бұрын

@@donhill1825 lol right, I mean it was so obvious

@Aaron-hg8jo

Жыл бұрын

Hahahaha

She's not going to follow his advice. She sounds like she knows it all.

@AJ-ox8xy

5 жыл бұрын

@@mazzanoblue8606 yep. That's what many people like this do and its one of the reasons they're in debt because they almost never look ahead for very long. She needs to sell everything and live in a RV or something like that for at least two years. Switch the beans and rice along with searching for the cheap foods at Walmart at the beginning of the day and end of the day. If they can do that for 2 years and get a decent amount from the house and cars and everything else they own, then they could do it in two years.

@chakarinyoswattana6987

5 жыл бұрын

Let's be real here, I think she does know it all because she has a degree in Leadership.

The financial stories I hear on his channel is outrageous. Make my $9k student loan seem like nothing at all lol

@edkennedy7952

4 жыл бұрын

I think half of these vid's are made up.

I was divorced since my daughter was young. When she was 18 she asked me if I would help her with college? I said on one condition, no student loans. She said deal. So I paid her tuition and $400. a month and her car. Now she has a masters degree and zero debt

@seld6019

4 жыл бұрын

Him Bike. Wow great job Dad. 👍🏽

@sexybisi

4 жыл бұрын

Awesome dad!

@Navaja09

4 жыл бұрын

Bad job

@BitterComments

4 жыл бұрын

I wish my parents had done this for me. Instead they pushed me to take out loans just so I could live on campus.

somebody enjoyed spring breaks and ski trips.... yes, kids do pay for that with student loans.

@NicE-jq3wv

7 жыл бұрын

momma2ski when I went to college, all borrowers were required to attend an "educational forum" which was mainly just the financial aid officers warning us not to finance pizzas and spring break trips with our borrowed funds and providing real life horror stories of past students who did just that. I don't know why all universities don't do this.

@momma2ski

7 жыл бұрын

my son didn't know financing those fun things were a possibility until the counselors "warned" students not to do that. Luckily we were able to explain how that would not be living within his means and that there would be a cost to his post school life style. we were lucky not all parents get to have that conversation.

@NicE-jq3wv

7 жыл бұрын

momma2ski ha! Neither did I! I thought I'd be arrested or something! LOL

@detert08

7 жыл бұрын

My university told me and others we can use "refund" money for living. Refund was the excess loan money after it was sent to our bill. So if we took out 10k and owed 2k for tuition, we got an 8k "refund" and it's a very well known tactic and verbiage in Illinois and Missouri. Not sure if everywhere, but I wish I wouldn't have known about Dave in high school. 😒 it's like I had no brain cells for 5 years since everyone else did it. Meh

@mickyunit

7 жыл бұрын

Emmy Nicole it should be a crime for the universities to say the student would be entitled to "refund" monies.

House and cars have to go!!!!!

@nickmain542

5 жыл бұрын

Jennifer Lazyfoot facts

Reminds me of the people who go to college for 6 years and get a degree in "General studies"

@Musicienne-DAB1995

2 жыл бұрын

Utterly insane.

I loved Dave's rant at the end! So true!

I wish I had this knowledge before going to college. I was one of the first to go to college in my family and I was one of those people who thought I had to just get an education no matter where or what in. I chose to go to the most expensive unrecognizable Christian colleges one could ever choose an a useless degree at that. I was a 18 year old making these large loan decisions. My parents never went to college so naturally they thought of course I would be better off. I'm now suffering the consequences of my foolish decision. But I'm excited to change that pattern in my children, thanks to Dave and my experiences I can show them the correct way in handling money. I'm not at all against higher education but I have some issues in the means of getting it.

@garciairmaful

7 жыл бұрын

Dblood85 I'm so sorry to hear that. Thank God I don't have any school debt. I am surprised since I am horrible with finances.

@granitebid1

7 жыл бұрын

Dblood85 im so glad you learn from it. to me college is a big scam i wouldn't never send my kids there. funny thing is i had to talk my son out of it an had to explain why college is a bad idea. i told him if you wanted to go you're gonna have to pay for it your self.

@mikenelson8377

6 жыл бұрын

And that’s really the point at the end of DR’s video after that caller. He’s never opposed to getting an education but don’t financially ruin quite possibly the rest of your life in the process.

@mchristr

6 жыл бұрын

Your problem wasn't getting a "useless" degree from a Christian college. The problem was borrowing the money and not cash flowing your education.

@jacobhellman9181

6 жыл бұрын

What degree at what school?

The degrees that are offered today are absurd

@Musicienne-DAB1995

2 жыл бұрын

You're telling me? This is outright fraud.

they should live on 40k a year and pay of their student loans in 3 years !!!!

@jaceholt1098

7 жыл бұрын

Forgetting taxes.

@xandersmith9758

7 жыл бұрын

taking taxes into account, they should still be able to clear their student loan debt in 5years or lease

@blessedwifeandmama

6 жыл бұрын

Exactly 40 k is a lot ! If they way downsize if they wait tables and deliver pizza they can do it in less than 3

@saraashkir5793

6 жыл бұрын

Right, we live on that basically per year, very comfortably, and we're a family of 4. They should be fine livig on even 30k if theyre just 2 people

@lindavel43

5 жыл бұрын

@@saraashkir5793 My mom raised two kids on 20 k...it wasn't fancy. But, we were feed, clothed(2nd hand) and had a roof over our heads. We even went to Disneyland every 3 years or so. So, she can do it.

I was the guy at the end, being the first to go to college in my family. Dave is right. My family was completely ignorant on how college worked. Thank God I hardly had any loans afterward and their long gone now.

$300,000 in student loans (this is obscene... a degree in business and a degree in "leadership") $300,000 house (hopefully you can get your money out of it) $ 26,000 in cars (probably worth 1/2 to 2/3) $ 30,000 in medical+ ------------- $656,000 total -300,000 house -20,000 cars ------------- $336,000 $140,000 income. $90,000 goes for debt and they might be out of debt in around 4 years.

@Dudefromspace567

7 жыл бұрын

taxes

@Txcowboy80

7 жыл бұрын

I guarantee you after taxes they bring home around 90k. After bill (light, gas,food,mortgage) they have around 30-40k a year to work with. It will take them 10-15 years realistically.

Its just sad when people overextend themselves and then sound confused when you say you have to live like someone in poverty to pay it all back. I have decent credit but i use it responsibly. I am in poverty. I am not going to use my credit to try and make myself look like something i am not. People are ridiculous.

Wharton... Harvard... Yale... Vanderbilt...??? Probably more like, "University of Phoenix".

People think Dave's advice is old and outmoded, no one can do it anymore. But his math is correct. The advice is timeless.

People take out these huge loans because they are having a good time going to school. It was the best time of my life. I was away from my parents and partying each weekend. There were easy girls every where, who were also partying. I didn't care about the classes or the exam, I was living on free money, I felt it was for free. I wasn't paying any bills, I didn't even see a bill. My parent was paying them with the student loan money. After 5 years of higher education, I found out that an educated person does not mean a smart person. I still don't know what to do with that piece of paper. Do I frame it and remember the good times I had, now that I have to look for money to paid for it..

I couldn’t not laugh at LEADERSHIP

@clarissamcpigeon7857

5 жыл бұрын

Especially when "leadership" is just bullying + charisma + a bit of common sense. She is clearly lacking the last part.

@alquinn8576

5 жыл бұрын

@Jacob Votava i thought she said they are making 140K combined

@ampmri2434

5 жыл бұрын

Interesting, with so many sheep, leaders are at a premium but who would follow a leader who has 300k debt from a leadership education?

@Musicienne-DAB1995

2 жыл бұрын

What's worse is that jobs now start requiring degrees for certain positions, locking out those who did not go to college/university.

The whole student loan industry is so insanely predatory!

I went to a private university and I have seen people buy stupid luxuries. I used my GI bill so I didnt really owe much.

@nathanielgr89

7 жыл бұрын

Mathgasm thank you military. Lol. I'm waiting 2-3 months before I start using my gi Bill. Waiting to get my medical retirement before I start going to school so I can collect that bah. Just debating on what degree I want and what school

@mathgasm8484

7 жыл бұрын

I got a degree in applied math but I write android apps. If undecided just do basics and get calculus level 2 math and that should get into most degree programs or an AS in math.

@TheCbone1979

7 жыл бұрын

why not use TA? That's what I'm doing to save the GI Bill for after ETS.

Dave should invite Mike Rowe to host with him.

@Skweepa

7 жыл бұрын

+

@MarkZimmerman

7 жыл бұрын

mercurymike66 i want suze orman to host with him lol

@michaelb.8953

7 жыл бұрын

MarkCE009 I would also like to see that. Suze could learn a lot from Dave.

She racked up that insane amount of student loan debt COUNTING ON the 10 year loan forgiveness.

I knew a girl who bought a 40k car with her student loan. A lot of that money is not use for a degree, just personal expenses and b.s.

It's not only the choices one makes but it is interesting that you don't say anything about the careless and predatory behavior of the student loan system

I generally agree with Dave. I even agree with him on using only cash / debit. But I have to disagree here with regards to student loan Even if they went gazelle intense pumping $ 60 K / year into student loan, it would take 5 years to clear the student loan debt. If they waited 5 additional years, they could have $ 300 k forgiven. They can still be gazelle intense and clear up the mortgage and consumer debt in the meantime

@CyberXShinobi

7 жыл бұрын

I guess it depends on whether you really believe you'll be happy at being in the same job for 10 years. People change jobs all the time for multiple reasons. *shrugs*

Love you Dave for showing compassion and concern for the people you never met.

This is a great show - sometimes we all spend money like it us going out of fashion, Dave is your sensible uncle that reminds you that money don't grow on trees.

Why would she buy a house with 300k in loans??

@migdalin92

7 жыл бұрын

mike9077 Because she is normal

@Tigerkem

7 жыл бұрын

lol, sad but that's a true statement

@meganmawhinney3966

7 жыл бұрын

mike9077 I'm curious what lender approved that big of a mortgage with that much existing debt.

@maryyellen

7 жыл бұрын

My fiancé and I have 1/10 of her debt and have said we are not close ready to buy a home any time soon! Pay these debts off first then start saving up for a hefty down payment.

@mikerice5298

7 жыл бұрын

All the homes are like that . you saw the crash of 2007 -2010 TOO big to fail .

I'm sorry but what is a leadership degree? Seriously because I've never heard of that.

@fanmaxis3004

5 жыл бұрын

And she paid over 100,000 dollars for it

@JB-kx9bx

4 жыл бұрын

Seriously, join the military to get that then take the GI bill and get a real degree.

Thank you for all you do. You have been a blessing to my family.

The student loan money was spent on "..a lot of expensive food"!!! With an mindset like that and sense of entitlement for "the finer things in life" when you don't have money is the exact reason that she won't do any of the things that Dave is advising.

Every caller should be doing a follow-up call after 3 years to see where there at.

Agree. I don’t think prestigious schools are necessary to be successful. I went to a public college while working at the same time. It was so tiring but by the time I graduated, I was debt free and gained experience. Since I had working experience, I was offered a job at the top big 4 companies in NYC before I even graduated. Debt free and had savings. And also paid off our wedding and now saving up for a house! I know a few people who keeps going back to school for a random useless degree and are in crazy debt. 😩 one thing I would say is, employers (or if you want to start your own business), look for people with EXPERIENCE. They rather take someone with more experience in that field than someone who never worked a day in his/her life coming out from a fancy college. My advice to any college kids, go to a decent public school while working at a job/internship in the field you want to pursue.

Dave, I disagree that they should sell their cars and get junkers. The maintenance and repair costs of an older vehicle FAR EXCEEDS the financing costs of a brand new car. I personally lease because, in my experience, it is the cheapest to way to own. You get to own the car for the first 3 years while its new and you spend almost nothing out of pocket for repairs. a $200 a month lease is $7200 for 3 years. A junker will cost you a MINIMUM of $200 a month in repairs and maintenance. So, why not drive a brand new car instead of a junker? Just to avoid the debt of the lease? If you're in debt, you should be doing what is the most AFFORDABLE - not what puts a bit of money in your pocket today that you'll have to pay back over the next few years.

@Puglover130

7 жыл бұрын

Synapse2k a lease is the most expensive way to buy. You take the hit of all the depreciation. Why do you think dealerships push leases so much? They get the most $$ from them.

You are right Dave, at first when I got a job in Consulting, I felt insecure because everyone I worked with came from Ivy League and here I am from Cal State, but then again I was the only one with a very low student loan.

If they qualify for loan forgiveness, why bother paying? Pay off the minimum until 10 years is up then you're done, and you've saved yourself a bunch of money.

@paulchairez939

7 жыл бұрын

True but that line of thinking does not fit well with dave's business model.

@mikenelson8377

6 жыл бұрын

That’s terrible logic. DR’s business model depicts getting out of debt very quickly so you can ENJOY your income, build wealth, and enjoy the best years of your life debt-free. If I were her, I’d do what DR says and live on nothing for 4-6 years and then get your life back.

@bridgetmakesmovies

6 жыл бұрын

No kidding.

These types of calls make me feel a sense of relief for my $26,000 student loan.🤣🤓

and here I am over stressed about 30k I am working to payoff. 300k is insane!!

@ramoncortez3154

3 жыл бұрын

Same

They should continue to pay the student loans on an income based repayment plan since the loans will be forgiven in 10 years. The saving from paying the minimum amount should be put toward repaying the other debts. That's my humble opinion.

They're working for non profits and have $360k debt aside from the student loans.... just wait the 10 yrs and get the student loan forgiveness. It makes zero sense to pay off that $300k while they continue to work for nonprofits and are already broke.

@oldtwinsna8347

6 жыл бұрын

Agreed. Based on their degrees and that they are in non-profit management, this doesn't translate very well into other job fields so they are very lucky to be making the kind of money they are now.

I'm starting to feel a lot calmer about my $15k of debt.

@JF32304

5 жыл бұрын

Amen to that!!

@barbaraleszczynski2214

4 жыл бұрын

So ok..stay calm, I agree, but don't get lax....keep staying focused and keep plugging as hard and harder if you can to get out of your debt. Do all you can to get rid of your debt...and then....enjoy the sheer freedom and relief that you will feel! You will not regret that short term suffering that you had to go thru....it will be worth it!

Why are you sorry Dave? You said it yourself... They bought everything in sight. What do they expect? They counted their chickens wayyyy before they financially hatched.

@ibmtpx24

7 жыл бұрын

Because he gets all the hate mail/tweet/comments from losers who think it's their right to borrow their way through life if he doesn't show them empathy. I miss when Dave told people they are brain damaged when they bought more car then they could afford earlier this year. The Dave now is more emotionally reserved.

@jasonlopez8055

6 жыл бұрын

Absolutely true beautiful. People need to understand the financial consequences of their decisions.

can't manage their own lives yet they want to manage a business

They took FPU a couple years ago and still amassed this debt?! It goes to show that the plan doesn't work unless you work it

I'm sorry, I just can't agree with selling homes. Where I live, my house has appreciated over $70k in 4 years. I would not be able to qualify to purchase my house if I tried to buy now, and my mortgage is only $1400. You can't get a decent apartment in a safe neighborhood where I live for less that $1100. I'm all about selling cars and living with nothing, but I just can't get behind this when the advice is to sell the house.

@NicE-jq3wv

7 жыл бұрын

lim2bemom parent it's all relative. Your speaking only from your personal perspective. And, when the bubble pops, your imaginary $70k is gone just like that.

@migdalin92

7 жыл бұрын

lim2bemom parent What sacrifices are you willing to make to get out of debt?

@nightreader1264

7 жыл бұрын

lim2bemom parent if you lived in Austin, Texas and bought a house in 1988 for 89,000 (assumed the loan) it is worth 425,000. NEVER sell a cheap house- you never know what will happen. Disagree with the house especially if it was cheaper than rent.

@NicE-jq3wv

7 жыл бұрын

Night Reader whoopdifreakindoo! It's been 30 YEARS. I would hope it would have appreciated that much! LOL. Take that same $88,000 and invest it for 30 years a reasonable interest rate of 7% and you'd have $630,000

@lim2bemomparent696

7 жыл бұрын

I've made quite a few sacrifices. My food budget went from $120/mo to $60. I cut $100 from my cable (I keep it for roommates (paying)). I only eat out 2x a month (paydays). I used to keep my heat at 75 in winter, now it stays on 68 and I wear sweatpants and sweaters in the house. I don't go to movies any longer (I have Netflix). Plus, having my house allows me to rent out some rooms and make extra money.

A degree in "leadership" I didn't know they could teach that

@BitterComments

4 жыл бұрын

They can’t.

You cannot learn anything about leadership in a classroom.

I took out two student loans totaling 3000 dollars when I was 18. Thankfully I caught my head sought some advice and decided to drop out of school instead of taking out more loans mainly because I was young and not taking school seriously for one and secondly the school flat out told us that they have like a 70 to 80 % drop out rate before a degree is obtained. So I quickly found a job and decided to go another route. Not having a college degree doesn’t bother me at all I know I’m a smart person and I love to learn. I just hated the format of school and didn’t want to take out student loans on for a degree I was probably not going to earn because like I said I was a dumb kid and really didn’t want to be in school anyway. Hate the format of school but I love to learn weird lol

This is from December 2016. 100 to 1 student loans still over 300 Grand and they have at least one car payment.

I disagree with Dave here. Go with the ten year forgiveness

@JK20239

4 жыл бұрын

@Brian Waller PSLF forgiveness is not taxable. IBR is...

girl if your annual income is 140K...than sell all of your cars and houses and move into a $800 month apartment and buy a $2K used car and youll pay off that debt in 4 or 5years vs 30years....there is no reason for you to buy all these cars and houses while in heavy debt

With that much student loans - I'm not sure if I will be able to sleep.

$300k for a business degree: sounded like a bad business deal!

@lonelydogclub

3 жыл бұрын

Those who would agree to such a deal has already disqualified themselves to be a successful businessman.

Don’t save on food you will pay 10 times for medical.

A lot of people just need common sense more than they need a formal high priced education.

This is a good video. I’m looking at grad schools for this fall. One would be $170k debt and the other would be practically free. Finding this channel is timely.

Am I the only one thinking that the interest is being factored into daves off the head equation that will essentially add a few more years of debt to chunk off.

So here's what happens... you're young AF and EVERYONE around you says you HAVE to get a degree. than they throw money at you and all you have to do is sign your name.

Living the American dream really large.

Who was the idiot who lend them 300k for a house when they already have $300k in non dischargeable in student debt?

Some people looked at me like a loser when I was working my part time job while in college. I bet she didn't work at all.

This radio station is likely more educational than some of these expensive uni degrees!

It boggles my mind how student loans these large are even possible. I thought I was taking out a lot when our family had to downsize so I took out $2500 more a semester at my state school. My $40k feels like a blessing now

Ppl in this much debt who mention the forgiveness program do NOT care to wait another 10 yrs, as long as they don't have to pay it.

All the wealthy people in my family(including myself) have no college.They consist of stockbrokers,vp's, sales ect.. Never bought into the hype. Decades ahead of the rest. Buy appreciating assets not depreciating.

state university here with no debt as of now. class of 2013

I’m starting to realize it’s not about how much you make, but the way you manage it that is far more important.

Business degrees are useless. If you have that money, just use it to start your own business and do your own research on how to run it. Don't spend it on getting a business degree.

@onetruth5073

6 жыл бұрын

Commando Master that’s not how it works bro. Business degrees can get you jobs in other companies, without risking opening your own. And average salary for business degree fresh out of school is 50k. 60k 1 year after, and 5-8 years after graduating can get you 120,000 average

@cynquettadean7114

4 жыл бұрын

I’m working on a cheap MBA paying out of pocket and it’s working already lol

Dave i make 30K a year and i am in $500,000 in debt.... Dave: 🤔What u need to do is SELL YOUR CAR!😅

@millertoyal

5 жыл бұрын

😂😂

@johnulcer

5 жыл бұрын

@Elephant In The Room the difference is that rent or mortgage is necessary no matter what. His point with cars is that you can find cheaper ones to get by on.

Why pay-off a forgivable loan? IS the interest not forgivable?

Dave's reaction hearing the debt amount. lol

I get that Dave Ramsey is opposed to debt is all forms. But sometimes he can be a bit doctrinal. We have all heard of how loan forgiveness, whether it's the 20 to 25 year absolute for all loans, for public service forgiveness in 10 years for qualified non-profit work can be a bit dangerous (i.e. people not actually qualifying), but the problem I have with Dave is that he doesn't qualify his prejudices. All he said during this show was "do you actually want to wait 10 years to get out of debt"? If Dave actually said he did some calculations, and did find that folks would end up financially behind, even with government student debt forgiveness, then I could live with that. But whenever things get a bit more complicated, he just waves it off. For the discerning viewer, we know that there is "good" debt (i.e. leverage employed such that a person earns more income than debt obligations), but Ramsey elsewhere does note that the habit of tackling debt is often more psychologically powerful than the most "rational" path, such that most folks end up with greater net worths with his method of tackling the lowest interest rate debt and working to reduce all obligations at all times. But you'll note he rarely shares this rationale on his shows, and he definitely doesn't ever work through the worthiness or the lack thereof of loan forgiveness progrrams. A bit dissatisfying.

Why do young people think going into horrible debt to get a degree is a good idea?!?! I have a Masters from a state university as a nurse practitioner & made an excellent salary. Most businesses do not care where your degree comes from.

I don’t always agree with selling the cars. $15k and $11k on cars isn’t much at all, and likely much more reliable than a junker. In the whole situation they have, this is a drop in the bucket. Given their income, selling the house, and living very frugally makes total sense.

I so wish I would have been able to listen to Dave's points on student loans before I got them! Listening now so I can get rid of them. Boo.

Welders and fitters can make $150-$200K after taxes...no degree...no student loans. No calls to Dave Ramsey. I was offered a job today making $33/Hour and $95 per Diem...working 60 hours a week. That's $2,500 a week...or $130K after taxes. In 2012 I took 4 welding classes at my community college back to back...that was 16 weeks of welding every day. It can be hard sometime making money with a college degree....but I will always be able to rake in the dough with my hands. Nobody can ever take that acquired skillset from me.