I’m happy to say that I’m 22, $300 in credit card debt (but I pay off the balances every month), paid off my new car 2 years ago, and have over $25k saved up 😊

I'm a single dad who is in the middle class and I have 0 credit card debt. I didn't have a credit card for a long time but I finally got one around a year ago but I make sure I limit what I use it for and pay it off every month.

Huge fan of your channel, and this video couldn’t have come at a better time as I just recently celebrated a getting out of debt milestone, and many of the things you both said in the video resonated a lot with how I used to think, and things I used to believe and that most Americans have been taught to believe about money, debt, and being middle class. This response is going to be a bit long but if you’ll read through it I think it can also resonate in some way with the both of you as well. About a year ago my finance and I broke up. She moved out of my house, and took along with her my 6, now 7 year old son. Her and I were constantly living paycheck to paycheck, never knowing where our money was going, but it felt like no matter what we did we were always teetering on the financial edge. During this time a few years ago I started watching your channel, and began doing gig work to bring in extra income. But it seemed like no matter how much extra work I did we just couldn’t get ahead. More money would come in, and more money would go out, and if you would have asked me at the time I would blame it on the economy, inflation, the middle class getting a raw deal etc etc. Fast forward to a year ago being under the constant burden of never ending payments and having no savings, no retirement to speak of at age 36 I just so happened to stumble upon a Dave Ramsey video that really struck a chord with me. I noticed you mentioned in this video you had heard some of Dave’s stuff, and I had too previously but I never really payed it much mind until this day, and I decided for the first time to actually sit down and right down on paper how much debt I have, and where all this money that I work so hard for is going every month. It wasn’t until I visualized on paper my spending habits that it REALLY dawned on me how reckless I was being with my money. It was at this point I saw so many areas where I could cut back in order to start tackling my debt and try to reverse this ship that was heading towards the iceberg. Aside from my mortgage which is only $1000/month that I locked in at 2.5% interest before things got crazy I had a new car I purchased last year for $615/month for 7 years at 8% interest. I had almost $20,000 in credit card/personal loan debt at 12-30% interest rates. I was drowning in monthly payments and I knew I had to do something about them. But before I could tackle those things I had to get everything else tackled first which is what Dave describes in his 7 baby steps and the debt snowball method. I was spending over $600 every month on food just for myself by eating out multiple times per week, buying snacks at work, constantly buying coffees while I was out. All these things that we buy and never think about how much it adds up on a weekly and monthly basis. I immediately knew I could eat cheaply at home on rice, beans, frozen veggies, pasta, eggs etc. so I cut that down to $150ish/month for food. Then I had every streaming service, subscriptions, you could think of and cable and immediately cancelled those which saved me another $200ish per month. I looked at my phone bill at $100+ per month and switched to prepaid service for $30 per month. Shopped around my car insurance and got that lowered by $80/month. Just with those tweaks I was able to save $800/month on things I never even gave a second thought to on a day to day basis and with that extra cash I started the debt snowball and started with my smallest debt and started working my way up. I also got “gazelle intensity” like Ramsey likes to say and started working as much overtime at work as I could get and when I wasn’t doing that I did gig work on the side, and all this extra cash was going towards debt, every month no exceptions. Fast forward 1 year later with a few hiccups along the way, and I completely paid off the $20,000 in credit cards/loans. Now all that extra money I was paying for all that debt is now going towards the car that I owe $34,000 on, and at this pace it will be paid off within a years time and I will be consumer debt free for the first time in my adult life. After that is building a 3-6 month of expenses emergency fund which is the buffer for when life happens and is what saves us from not using those evil credit cards like you also described in this video. Keep in mind I also accomplished this while also paying child support, and $500/month on a private school for my son as well while only making about $48,000/year. I won’t say it’s easy, but once you’re sick and tired of being sick and tired of being a slave to debt, and you can actually see a light at the end of the tunnel, well at that point there is no turning back, and if I can do it anybody can do it. You just have to shift your mindset from the typical day to day consumerism we’ve all been brainwashed by, to being intentional with every single dollar we have using a written budget at the beginning of every month and sticking to it. I’m going to include a few links to a couple of Dave’s videos that I feel could really help you shift your mindset and help you along the way. The first one is the video that I mentioned that really struck a chord with me to start my journey. kzread.info/dash/bejne/ZaWOm6WGkteqgaQ.htmlsi=K_7msJ5iwrlq54jW This next one talks in depth on the 7 baby steps to financial freedom. kzread.info/dash/bejne/gYNml7arhtLFlLg.htmlsi=MIzEtgGd1R6TEToS This one will suit you guys well as Ramsey shows how car leases are literally the biggest ripoff in automotive financing history. kzread.info/dash/bejne/gn5kts5_idOniLw.htmlsi=cxOLj4PwtTf637hL Lastly what really motivated me along the way is a playlist here of all the people he’s had on his show that were lower or middle class income making $100,000 or way less that paid off crazy amounts of debt and became financially free. kzread.info/head/PLy1zPJxuYdp1JB1cC5WnOEumZtpdHAZvh&si=GZLTo4mtL_m7krkg With all that said, take care you guys and I look forward to many more videos from you in the future. Keep up the great work!

@TheLongIslandDashExperience

Ай бұрын

I have watched a lot of the Ramsey stuff and love it.. and something I definitely want to implement at some point but I also know right now it’s something we can’t commit to yet.

@girlinmaine6741

Ай бұрын

@@TheLongIslandDashExperience I’m just starting the video but I am reading comments. Forget Ramsey, follow the budget mom. She still allows you to live your life but save at the same time. I had a huge success with her.

@TheStassia1

24 күн бұрын

Awesome advice! With my husband and my income combined we make a nice chunk of money and we definitely spend our money on unnecessary things and always wonder where all the money is going. I had Dave Ramsey app for a minute but never used it but it may be time to double back and actually do the work

@metallicat61003

20 күн бұрын

@@TheStassia1 You def should! Good luck on your debt free journey!

As someone who is paid in full on everything and did understand the middle class situation I can relate. I no longer need to kill myself for the daily grind. I now work a job I love and have less stress. My bills are still there and kids cost a lot of money as you say. You have to make a plan and either budget or make sacrifices. Lots of good comments here whether positive or negative negative. Try this : make your coffees before you leave for your shifts, take that money and pay down elsewhere. The trick is to live below your means. Great video !

Lou should wear a crown for a whole shift! Cmon!

Thanks for being so transparent. Hope everyone listening hears you. You never know what happens from one day to the next. Definitely need other streams of income. We sell online on multiple marketplaces to make ends meet according to how we like to live. Keep up the great work.

@TheLongIslandDashExperience

15 күн бұрын

Thank you!

I can survive off my W2 checks, but I'd be just be able to live my day to day and not do extra stuff like go to bingo or do fun activities. I do gig work for extra monies to put in savings and to feel relief a bit.i think I worry too much. Love your videos!

I recently got a loan to pay off all my credit cards because I was paying more in interest than in CC. It's lifted a huge weight off my shoulders, now I can focus on this loan and not stress about all those cards. I used to be comfortable too, now I'm struggling every single month. It's definitely hard for everyone but knowing how to budget is lifesaving.

My husband lost his job this week so this topic definitely hits home. He racked up a lot of debt over these last 4 years too. The uncertainty is very difficult

Hi you two, just be thankful that you dont live in Florida. Im 67 wife is 70 no tickets or accidents ever and we pay $1550 every 6 months for 2 cars. Thats insane, but here in Florida any kind of insurance is HIGH. Enjoy all your videos, thanks!!

I finally just got out of credit card debt. My credit score is finally in the 700s lol. I was only like 10k in debt. I’m hoping to refinance my house now and pay off a loan and my car and then i won’t have any debt except my mortgage. But i feel you guys man… it’s tough out here. Especially in the last 4 years….

@TheLongIslandDashExperience

Ай бұрын

Awesome!!

Love the relatable conversation about being middle class for sure keep them coming. Love watching you to 🙂

Our issue is we’ll accumulate a certain amount for savings and then all of a sudden we’re hit with extra expenses and that “savings” just stays as is and never grows because the extra is now being allocated elsewhere. So we essentially just work to maintain the same amount of savings rather than increase it.

@TheLongIslandDashExperience

Ай бұрын

Definitely know that feeling

@thomascrohan7810

Ай бұрын

Same

Funny enough, I had asked a Taco Bell employee that same question about the sauce packets and she very seriously told me yes, that is the order we have to put them in there.😂

Appreciate you guys sharing your experience and such personal topics bc i do think people need to hear it and know they arent alone in the struggle ❤️

I just paid first mortgage off… car was almost dead so now I have a car payment but still can survive. Still equity loan and credit card but Doing gig work as needed. I am retired so no w2 nope never again 🙏

Grubhub has been partnered with Amazon for 2 years already. It has not just started 😅

@TheLongIslandDashExperience

2 ай бұрын

Yea but now it’s available for everyone and you can order right through the Amazon app. Before you had to sign up for 1 year.

@mmccann625

Ай бұрын

They are correct. The new feature is that you order directly through Amazon instead of Grubhub. Amazon is trying to integrate everything into their app. You can still order through the Grubhub app still, if you wish. Wouldn’t be surprised like they (Lou and Mary) mentioned in the video an uptick in Grubhub. In my area, (Syracuse, NY) - I notice that Grubhub orders, people tend to tip more. So, hopefully this is a positive thing for your region / area. 😇

Thank you for being so honest. This year has been rough as I unexpectedly got laid off from my job. I'm back to doing gig work full-time as I find it actually more reliable than most w2 jobs. So many people I know from even safe fields (healthcare, IT) are being laid off. You can no longer depend on being with one company and one job for 40 years anymore. But being a full-time gig worker requires a lot of discipline though as you need to budget for car issues. I can definitely tell being out in the field that people are hurting economically more so than even just last year. Hang in there!

BOOM! 😂 ( cant believe no one else commented this below!!)🎉

Me and my wife are definitely average incomes. We're both on fixed incomes which makes it tougher. We both do gig work on the side which helps tremendously and catering deliveries. Drive with veho at times, all the food apps, spark has been pretty good. But I really don't want to do a W-2 because I like to be on my time not on their time!

I said the same on debt but now that my daughter has kids we helping with clothing and extras for them to pay medical bills and other things. Right back into debt i go

I love you guys just the way you are, gotta be you 😊i agree about middle class it's a struggle I'm 60 and I live with my son and his family

Hey lou and Mary. I specialize in debt consolidation as my w2. Credit cards are not evil l, they are necessary to build credit. You do have to use them responsibly and keep it in check, though. If you need guidance, please feel free to reach out. I can absolutely help anyone get back on track. It's the interest that is evil.

Follow the Dave Ramsey plan and build up a starter emergency fund of 1,000.00$ and once that fund is depleted (while you pay off debt) then re-build it.

I got into cc debt young, paid it off and didn’t touch them for 25 years - then my lack of credit was hurting me. I got a bunch and of course I never learn 🤦‍♀️. As a single mom of two teenagers gig work has been a life saver - I should be caught up in time to start gigging for their college tuition - oh well, keep moving forward!

I enjoy watching your content. Thank you for being so transparent about surviving in the middle class. I’m in my 30s, still living with parent. I consider myself lower class, been working a W2 job for 9 years and I work side gigs to make extra income. 😕

My town is a college town and the students were throwing away their mini fridges,microwaves and other things just because they didn’t want to take them home with them at the end of the school year. So the lady that runs the Salvation Army in my town now takes their box truck on their move out day and anything the students don’t want she collects for donations.

Hate to say this but if you are telling us one minute you got your daughters cars because you could afford it and then the next minute say you have credit card debt that you can’t pay off… you couldn’t afford those cars and you are living above your means

@TheStassia1

24 күн бұрын

They said that in the video about how middle class people alot of times live above their means

@RangersTown

24 күн бұрын

@@TheStassia1 right but they are in fact living that exact life. They contradicted themselves and it’s scary that they didn’t even realize it

Im in the same situation prices are outrageous

i can relate as well, but disagree with mary on the paying off your mortgage, and car leases

Love your content

You guys do a good job of raising awesome family kids

@TheLongIslandDashExperience

Ай бұрын

Thank you!!

The girls are adults they should be paying their own bills.. no offense but all those car loans and credit card debt can be avoided you're just trying to live beyond ur means

As a full time spark driver, the Walmart app, I make on average like 600+ a week! I have the other apps too but Spark gives me the gold bars! Since I live in a small area but people here order online all the time it makes sense lol

Hi all happy Friday afternoon to all of you guys and I enjoy your channel and you all amazing supporter

This may be controversial but if you are doing doordash or ubereats delivery, you are not middle class. Former middle class will always think they are middle class but if u work second or third job, you are not middle class anymore My opinion is Get out of debt (incl car loans) and start investing NOW. So many people spend and spend. Stop buying things you dont need.

New here hutbit sure seems like theres a weird akount of negativity in these comments. Keep up the good work! Love the content. Youd do great with shorts!

Yes, drinks can be messy. Lol

Love the “Boom, we’re done!”, lol. Hope to say that one day about my own credit card debt, lol. 😊 Love all your videos!

middle middle class teetering on lower middle here used to be upper middle class. Had a high paying excellent benefit union job for 20+ years plant closed and the job went over seas. Too young to retire. Ran through severance package and Cobra insurance had no choice but to accept much lower pay. Rust belt city and there just wasn’t many options available. We have accrued CC debt. Grateful for what we have but scared about what we would do if a disaster happened. Still trying to save for retirement also and have 1 child left in college. My side hustle is selling on EBay, Mercari etc.

Long Island, especially Suffolk, was very affordable when I was a kid in the 1970s/80s. Great quality of life, affordable homes, good schools. The perfect suburb. That's all gone. And it's only going to get worse as more and more migrants move out that way and put pressure on housing, schools, hospitals, you name it. Taxes are thru the roof, as is. My brother just moved to Happauge from Queens. I think eventually they'll leave NY all together. That's my plan. I'm in my 50s now, worked 25 years in the city in the advertising biz and did well but stopped working at 49 to take care of my elderly parents who are in their 80s. Eventually the plan is to sell the family home (I have 2 other brothers) and move out of state. You need to start thinking about your retirement years and quality of life. It ain't gonna be on Long Island.

@melliefz

2 ай бұрын

Agree with you there; the island is getting to be too expensive to survive for me. Most likely moving within the next year or two.

I’m being a stickler here but what the hell is a “catch up” lol I’m sure you can say ketchup the right way 😅

@TheLongIslandDashExperience

Ай бұрын

Haha that’s how us Long Island people talk

That is one of the reasons I am doing gig work is to pay off credit cards. So far, I am almost done. Whew! I'm glad you guys are talking about this. I see a lot of couples, especially on the weekends do gig work.

@GrubHubGorilla

Ай бұрын

Same here and to remodel my house

I remember reading about rich Ivy league kids getting their brand new luxury vehicles replaced just bc they spilled coffee in their car & didn't like the smell. As if they're just replacing a pair of socks... 😂😅

@TheLongIslandDashExperience

2 ай бұрын

Disgusting

We had thirty five thousand dollars, I have two income PCT nurse, and family member has two income, but then a energy against happen and thankfully I have enough funds to finance everything on my funds but I sure miss the other two checks. but life. happens. But mortgage payments continue to go up like everyone else I have to pay off credit card debt. plus I had to support another family member who was between jobs I and needed a roof over her head. it doesn't get easier.

I survive living with my daughter and family. I am 68 years young. Kids should contribute to their cars and insurance. I have credit card debt. Money can be depressing.

I absolutely hate sticky hands also soggy socks

I used to have a 2011 Chevy Cruze and I almost had it paid off and I hit a deer one morning and my insurance company totaled my car.

The best part about the chipotle order was she said the drink was in the bag 😂

Yes on the credit card debit

I totally get what you mean. I am working on paying off my credit cards and car.

Add to your anxiety when your mortgage loan servicing company is hacked and doesn't let you know until 6 months later. That's what happened to me and damage has already been done

@TheLongIslandDashExperience

Ай бұрын

Awful

Yup on credit card here.

Ive only bought from amazon once and it was a disaster but it was a long long time ago

There will be fees but no delivery fee ! It’s been like this for 2 years already!

Inflation is ridiculous at this point. We work hard to make more money and no matter what everything is always sooo expensive. When you throw in kids, you’re heading straight for debt! It’s sad that us middle class gotta work a 9-5 and then find other ways to have side hustles..

I know he gets a lot of hate but I do agree with a lot of his outlooks on financial goals. I watch a lot of Dave Ramsey so I follow a no debt strategy and only buy something if I can pay cash. I want a new car so currently saving up until I can pay in full. And pay off your house, standard deduction is enough if you are paying more interest than your standard deduction than you need to pay your principal down fast! Borrower is slave to the lender…give every dollar a job…words I live by now.

boom no credit card debt here, but I did go bankrupt once already; over 10 years ago so it is cleared completely at this point. But haven't touched a CC since.

Personally I have to disagree with telling your kids not to get credit cards. My parents taught me to always always use credit cards as if its a debit card, and credit cards for me just earn me points and cashback, which I have already used to take incredible trips and enjoy life more (essentially for free as they're purchases I would've already made). I do understand it though from the perspective as having it for an emergency, in that case I can see it becoming a liability.

I have my W2 job do DoorDash on side and then sports bed for more income

I actually lost a very good paying W-2 job this past year. I was not living beyond my means but I lost that job because my company lost the contract. No fault of mine. I had no way in savings, went thru it paying bills for a few months. Haven't been able to find anything comparable for pay. That means I am in process of filing bankruptcy. I have never been in financial wise but the past year has completely wiped me out financially. I drive doordash, spark, roadie to just bring money in daily.

What If we want to get to rolling the ball 😆

@TheLongIslandDashExperience

Ай бұрын

Lol

GH has been with Amazon for over a year or so. GH in my market is 💀

@TheLongIslandDashExperience

Ай бұрын

Yea but now you can order through Amazon

I get paid every month lol😂

yup, retired, making 200-250 extra a week works fine,any extra money helps

For the people whining that they can't watch this video, keep running from reality like a child. Lou and mary are just telling it like it is. 💯

PAYE in England. Pay as you earn

I love watching your content, but listening to your conversation about not paying off your house & always having car loans really set me on edge. You sound like "typical" Americans. (Not throwing shade) When you own your things outright, no one can ever take them away. My husband & I drive older, paid for cars. No payments = less stress for us. No payments during the pandemic was amazing...

@cherishisgrace

Ай бұрын

1) Definitely not a "typical' American thing, what they spoke about is all over the world. Americans are just more vocal about it. 2) Ownership is partially right, you can still lose your home if you can no longer afford property taxes, which is the number 1 reason why people loose it, where I lived in Texas, and property taxes NEVER go away.

@j.t.downing3932

Ай бұрын

Buy your coffee (and snacks)at a warehouse store, and make it at home before you go out. Do the math on how much you spend on coffee and snacks at 7-11. Do the morning coffee song at home.

@kristenpassow7669

Ай бұрын

@cherishisgrace you're correct that one can lose a home for not paying property taxes. That is less likely to happen when a person has fewer outstanding payments. Also, a paid for home is a huge asset. If problems arise, it can be sold, and the proceeds can cover a number issues

@janking8009

Ай бұрын

Mortgage will be paid off within a few months, student loan soon after and then car very soon

You can get Pantera T-shirts at the Thift Store?!?!?

@TheLongIslandDashExperience

2 ай бұрын

Ha no that is at the record store

I'm middle class sole income provider with a partner and a dog. I make 31.00 an hour full time w2 job and was out of work for 2 months January 2022 and never been able to dig out od the hole. If I did not gig work every day of the week I could not pay the bills and I'm late every month on my rent. It's hard out here being sole bread winner supporting someone who goes to school etc.

@Smart_Think

2 ай бұрын

$31/hour is no longer middle class imo Need to get out of debt, stop spending and start investing immediately

98% of people are middle or lower. The 2% are entrepreneurs who made it.

Everyone doesn't have Amazon. I don't have an Amazon account and don't buy anything thru Amazon.

8

I could never imagine my parents paying for my car payments

What’s a w2 job

@TheLongIslandDashExperience

Ай бұрын

A job where the taxes come out of your paycheck

Invest in Roth IRA’s!😃

✌️😁

@TheLongIslandDashExperience

2 ай бұрын

Wooohooo

69 dude!

33 favorite number because... anyone?

@dexterstuffins

2 ай бұрын

Larry Bird?

THERE IS NO MIDDLE CLASS DONT FOOL YOURSELF

Omg i couldnt keep watching this depressing video i like watching videos to forget not to dwell on debt please go back to old videos

I normally am a huge fan of your channel, but this video just didn't sit right with me. You all seem so far out of touch it's insane. You pay insurance and car payments on 4 cars and still have money left over? Do you realize your insurance payment alone is my rent payment? If I had the opportunity to have a grand extra every month, you better believe I'd be sittin pretty. 30-40k is what the average middle class worker makes. If you make over that, you're not middle class. And there's two of you. That's dual income. I know y'all are probably making 70-100k a year. If you're in debt you should live within your means. 4 car payments and insurance should have never happened if you were in debt. My parents bought me a car off Craigslist because that's all kids need. And I worked to pay my insurance payment. I'm not saying not to do that for your children, but if you couldn't afford it you shouldn't have. I've watched a lot of your videos, I have seen how you shop and the cars you drive. You are not middle class. I wish rich people would stop role playing as poor "oh we have to gig work" no you get to make extra money on top of your salaries. You should have never posted this/reflected on what you said in the edit. Gross.

@annaisokay8

Ай бұрын

You also get a cost of living raise and merit raise every year?? This video is embarrassing. Live like one of your viewers for a day and see if you still feel like this.

@TheLongIslandDashExperience

Ай бұрын

I’m sorry you don’t like how we think. Thanks for watching the video and being super judgmental.

@TheLongIslandDashExperience

Ай бұрын

Also for the record $150k is middle class in for household Income

@annaisokay8

Ай бұрын

@@TheLongIslandDashExperience but that's not what you make is it? Your comment is all I need to know about you. I think the criticisms your viewers are saying is going right over your head.

@annaisokay8

Ай бұрын

@@TheLongIslandDashExperience you just lost a long time sub dude. Your ego is insane. Man up to living outside of your means and pretending to be poor because of it. Some people are actually out here living pay check to pay check.

Aye Pokerdad:) I wanna say ty for your time to respond back to me on twitch whisper about your experience with dashing. I started doing it part time to supplement the variance of my Mtt career. Love, Seat1:)

@TheLongIslandDashExperience

Ай бұрын

That’s awesome!! Good luck!!