How do you manage your debt

Monday, April 17th


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

I mean I know this was such a big thing for a lot of people until they posted on FaceBook of course that is the tests in losing grounds for everything in my friend me is look. It says the twenty of my closest friends that are weak and was very similar. VA when the brunch Saturday. Then they went. Little below a dinner together Saturday and allow for thirtieth birthday Saturday night yesterday allowed the brunt serve breakfast. And went to the Easter and stuff like that that's always prided I was happy hour everything was just luxury and leisure weekend. Now my weekend. And involve some with as much as bragging. Was filled with Thursday night if you didn't notice on the show Friday morning and try to make it so you didn't but there's an at a bar attended until 3 AM. To shall appear for 430. Five. That's a tough night for us this is okay. Up front and a bartender at. Saturday during the day did some handiwork sneaked. My friend Steve's. Is is sewer backups onto his house and stick to train the and my other friend his wife is starting an organic garden she believes so they're paying me that help with that process it's it's probably it's a pretty big project him. And then Saturday and a bartender. And then Sunday was Easter yesterday was Easter. Saw yesterday posted I'd I'd kind of collected all the cash and made. From the weekend. And I looked at loves it out with crack. So I broke it down to. Riding in a FaceBook post my total debt to mining at but put the amount on FaceBook. Yeah the Levys say you wrote the amount nobody is open with. How much stacked they have I'm I'm impressed that you haven't done to the dollar which is suggesting while 22382. My biggest discovery. In my mission to be out of debt by thirty does that include talked about this before and here I zero debt by thirty years old. It my biggest discoveries organization that's like one of the biggest things when you're trying to get out of that are planned anything really organization here the next occasion I've thought he had 20382. Dollars and debt. And I brought Allen not trying to brag or anything like I'm trying to help other people war in debt and inspire them. By saying. To trade. Bonds for work. I mean 750. Some dollars this weekend because it is go to brunch. If it didn't go to happy hour as a missed one friend even if Burke and missed a beautiful weekend and mr. beautiful weekend. But from Thursday. Friday. Saturday Saturday night. Do you worked in constant death anything. Hard for youth to write his this is I mean you can't get any more raw and real than this by telling every announcing to everybody. How much debt you have. Exactly how much you made. It's hard for you really to disclose. It's how much my son powerball I'm not gonna I'm not gonna try to beat a tough year and comfortable. Look at that number I did all the math of Morrissey know the cats I went to CCC as they help me and a lot so I have that number that I've debt that I have occurred since then which they've really advise you don't but. Lot of listen anybody he bill Melamed I'm mr. Noel the last years but anyway. A look at the number well. That's odd student loans this doesn't mean everybody I feel give student loans right now you're like 22000 that's it yeah I don't have student loans and am I guess since it. Look we usually talk about your student unknowns like. Nobody should win it when your kid goes off to college nobody's bragging about K yeah my kids don't have to college now we have 50000 dollars in debt united right now nobody talks openly about their debt but there's a lot of people. That are struggling with the IB all the credit in the world Kanye to be so honest and open about it and I don't blizzard I want it. That that's very nice view but I've really just want to inspire. Other people to do and edited a. As it takes etiquette and yet he did in any GX if it takes a lot of gall to to be able to do that and do this to make it sound mean. It be really easy for you to brag. About that she made 754. Dollars and leave it that. But he prefaced it with how much are in debt. And then would that amount made how much closer you and your goal of zero debt thirty like you call and then I got him on the FaceBook posts keeper like. Donna says I admire your hard work and perseverance. You should be proud of yourself he's in my. Favorite parts of the people lord doing this thing or thinking about doing Lauren wants that you're just off thirteen thousand dollars in credit debt. In a few years time I missed out on a lot of fun and skipped dinners and drinks out but it was worth it this is the time to do without don't you guys agree that this is you're tired. Not thirty act when you're great you're 28 you don't have a family at you ten. Focus you can give and divided attention on the debt because when you put it off too long when you have a feeling now there's other things. Poland that you there's other you know and I mean it it's a lot harder to hustle twenty force out at its heart at 28 win again that all that temptation to go to we can in Florida like my friends are going in a couple gas right now it's temptation that you guys are fighting against whereas when you have a family now suggest the only expenses as him on the call and I have time. I mean went in and an A you also get to a point where you have so much debt it's seems so hopeless to never be able to get out of it. The longer and it's like you just look at that the road had just like this will nav for and now 22000 isn't you know that that's that's still a ton of money do you buy that seems more manageable than having 200000 dollars in debt. It's horrible. Are you putting in factoring in like your car with everything you uh oh and in okay so our cheque for 22000 whatever the differences now 21500. Dollars and I wrote that she Acton. That's ever I would be I wouldn't I would have to pay car insurance every month a phone bills and rent that this is everything. My car I 101000 dollars left my car everything is rolled into this number have you heard of. He was a former bankruptcy judge judge Nam fell in a lot of people now we have about him around there yeah. I remarkable neighmond unfortunate because she always sad as an in you know an I only know this because. We've gone back and forth a little bet he says the only dat. And that's good debt is debt that you can afford to repay. Even nobody thinks of that win the late. Opt for us on this that is probably carry genes have bought into when he fourteen you know to me like nobody thinks of that to win either having the fun part this is like almost like raising kids like debt is look at child right. It's fun to make it happen but when yet it's harder to deal when it's hard to music. Yeah let's not talk to you are fine with having that payment. For the student loan whatever you got the line you live to bid for Friday and you live for happy hour. And you live for vacation one year and you've got that that's a lot didn't do it on the happy your if your happy truly been dumped it but I know that having debt. Makes a lot of people unhappy. Me personally it's the it's probably. Probably the number one there. Pressure. In a relationship not the bad guy or girl that enjoys that Monday through Friday and that's it shut it down there there's no denying it that's one of the major prizes of divorce now is that discussion about money now. And I had to I am very impressed and proud of you kind yeah I am so impressed. That you were just so on is that's tough. Nobody ever trusted man how misstep there and. We LC were on debt we never know we never say how much and so you know obviously. Playing it sends video game everybody has the diamond overhead and particularly as that little. Black cloud of debt floating over the sums bigger sums smaller sums clear some darker which you can pay it up as that your sang that's your mention that I need enough you can you know. Judge to bar as is number the budget deal weird. Aren't there I. Five years. Away from. Retired what net people living in the that was once it irk you end. Up at 8% raised by. All up IRA. Yeah its. Now how odd how honest you wanna be here you set a 130000. Dollar morgues are fighters can you know you wanna share how much you made a year to to put into perspective yeah. It didn't acknowledge the army currently. It really is and how much you me. It's how disciplined you Larry and you write I don't think. We probably don't plan as much as we should plan for the front. The shooting of an assistant at. This. Hour. The. So what you when you grew up so what was your environment today feeling a product of our environment here we grow up in that way you don't know how to BD discipline did you have hard core parents where it was that lesson was being taught. From de Lima. And it is about it lately you know. Well calm people and I vacations and extravagant. The area. Well that's that's the right there when you said when you first and we had a lot of food to eat like usually people who do I get my dad has a boat my dad has and your escalade now would you like we had a lot of food to eat when that's a luxury then you could tell what your mentality yeah yeah. Song welcome. Would that that the editor. One. I don't look at. Them and do. I. Org and its organization right organization and execution you can and discipline. I plan is that you are. Every thirty years col. We all of you wake up tomorrow being that the. Clinton should pay a bit and they are the best I've got a thanks man thinks you're talking about is appreciated where you're listening to governor work right now it could be zero debt by forty or fifty or 67 eerie. Anybody can have zero debt for me it's zero debt by thirty calls to do to buy side of us. It. You're right about that that thing yeah. Auditors that the Afghan Jupiter is genius about it because. What she did she shook. Com Oliver yet binding on the Oprah and interest credit are on and respect are all. And he just double payments to bail out of pocket that the I mean. We're always come family were like you know. They Oman and you need more important now and amber yeah. Do you how lucky you are to a had that option though. But you know people have a credit card and if they even have one with a 300 dollar limit for five tops. And that's 120% interest rate less I like best case in your area. Yet you know it is if it was a struggle on crime I mean we've never wanted credit market our current thing but we don't have it don't buy meat yeah yeah there. And that I think it is if you don't need it. You know want to meter meter and bank accounts and bank on one hand. You something in the other way and bella purse you know oh. So you say that adds links so debt down because I I was in reading this one teacher this financing churn around quite. Mrs. land and she be saying that she does this with her kids her her high schoolers and she's like okay what's in need verses a lot my cell phone neater watt. In all the kids like me. Yeah there's no leader Lott. Mean I mean I mean there it is kind of confusing to our kids that you have to establish those conversations as the parent now. You know what do you mean you need to go out to eat or junior peanut butter and jelly sandwich you just need food basic rights of every there is important. One person's needs good lessons and. Yes and and it and it is meant I mean we these are awed by our voices be paper. You know we don't have. Our basic car or older but there again. In the pro. For people like me at least it's hard to justify what I mean I can convince myself and last I can convince myself that it need not iPad yeah. I needed new iPad here's why because I work in radio and they're pushing us to do some video and multimedia production and is to be so easy convenient plus. I can do research for topics on the show quickly yeah. Poor editing cash but people like pat. Florida and ask the bottom and you cut it out to be. Doing that or. I'm just saying you you are both right sandy and users and did you guys all right. But I am just getting into the head of my dad and apple and certainly it's tough. Yet we can validate any value any purchase them and really good at we're like a lawyer we could we can make every argument hunters that signed the men will still mules to commit. So big struggle like that guy who called before you I don't know if you heard him he said he paid app is house 135000. Dollar mortgage and right in front of years. Now I doesn't have a mortgage anymore he could buy a 250000. Dollar house of B watts I mean he sounds like he's financially stable in a position where he can have a nicer house in. Does she. Know. To go back to your first thought was that the credit card it's organization. And an execution and if you wanna had a little struggle on to that and it's is occupying your time with something that brings an income like aside how solar serving a bartender whenever. And he says he he is in May need to be at least not you deceptive right I just can't success ours are awesome now thanks man that's called thank you so much. Hectic chaotic good yeah they don't understand it all. Arie all the and I BIQ mark my employees. It's nice it's a compliment with our army. And kind of the background in this listening watching and little. Being embarrassed the fact that. I'm a fifty something guy with tons of debt and do not know what to do. It's I mean and a buzzed announcing his people as are now kind that are happy for you that you know you put up how much fuel a 22 grand in your. Mean it down instead of going out and do 120 year old things. It's very respectable. But then guys like mean sit back can be like. That is so overwhelming. That even if you started pounding away at it. And limiting your lifestyle to bare bones minimum ketchup soup and Bologna sandwiches for the next. If you do it on paper like 25 years it just seems endless scenes and possible. And it's harder part to deal when we have a ton of debt and you know you're getting out of it but it just seems like it takes for as ever. There is no end insight. Citi Asia is give. You feel like it's so overwhelming you're just to kinda get to throw in the towel he can't get to this mindset well who skip along and you know. Whatever or not everybody has that goal we got to remember not everybody has the goal of zero debt what might not well what's more important to them. I mean they would shoot if somebody came and said Baltic weird that you want particularly as a no check of Yasser. I don't think anybody says I can't I'm fine with life's not here priority. The people's people these two trains of thought one is like hey you can't take it with the soul you know. Why die rich when you limit yourself I am so digging you're gonna leave it to your kids in an ever in your state they've do you have debt because that's where did. It's the death can get paid off death at the grill anybody. Money I. Get. Gordon Ramsay makes his kids like you pay for things visas in there. And I think anybody really walks into it creates. He discussions at home. You you say that your completely stress free when you know you have the cloud of data well you know over you and tons sandy. People let people don't have that as a priority and he can pay their bills period might even if it bills with a unanimous. The minimum even if it's the minimum people are fine as long as they can go out with friends on on the weekends on Saturday go to brunch on Sunday and for the American retire they're not thinking about and hurled and winning either medication or her the doctor's bills are people's insurance if they do have David put a little aside and 88. Like mine. Angle as extreme to have zero debt that's pretty extreme. Right right but then you're gonna buy a house I then you'll be in debt again this is like you never out without debt in in real everyday life dead is a lot different than what it used to be when we were grown up our parents had decked. In a different wake is everything was cash cards are really sincerely just recent. Where we're taking credit cards emerges charging and rolling rolling rolling yeah her kids. And I don't even remember seeing my did even have a credit everything was cash pretty much. I think that's a lot of Oscar. Well saluted the ratio tell what things cost vs what people make. Was was at least the locals are back in and their right good network trained that old you can pay it off with this low interest pursued that. Also FaceBook ports like. In 1968 a buzz Taylor made as much money have bought this four and not 150 for this much and then the second 22017. Minute of it basically shows are everything has its big gap between what you make him what everything cost is way bigger yes and what used to there. There now I and because they do this podcast seven figures on Friday NA intervened the lady from vanguard. Last week. And she said Scott got yes to questions specifically for a year old we was that the question like there's a guy's guns your retirement and his age what does he do about it you might say right at age she said. It doesn't matter how much debt you have you could have college loans you give credit card debt you condemn all this other debt you have got to there is no ten I. You have got to contribute to your far on K a tier companies match means if you are fortunate enough to have the ability to contribute to a forum on cake and grab it if your company matches it. Thank them and go up to at least the match and men worry about paying up Connecticut or it's free money that the bone becomes easier then pay off your highest interest so the credit card and then student loan she says. Pay the minimum could them probably in your line of death has the lowest interest at all or are hearing borrowing case first of its company match. Then the highest interest calls to Dubai and here for you just got into the Mubarak heroic thing yeah. I started back up again and it was it was because of it was because of divorce yeah high fees a cost for lawyers and Atlanta. And it wiped out had to clean that out faster than ho see worst everything I'd saved is gone. And now it's like now he just building building building building back up to juju buzz and number let's cook real quick to take this call high picks column looks up. I consumer credit L insert the Rochester I. The I noted I'm I've been with him for three years a lot of them are the best bit of an update really on great absolutely and definitely hustlers like thousand dollars thirteen thousand dollars I was I I'll be clear by August and there there's the best things that ever happened to anyone who dat seriously. I guess it's state or federal law that you must be debt free through consumer credit like plan. Within four years so the question up in his four years stand. I think we're done in August until I got to be another debt free sooner I never thought I'd call that night and died when I'm with them a couple of years ago I never thought I call them. Which it is last week and said. Today. He increased my payment and I. That hurt and hurt my column that words of the it's just a cup it's you know not used to live images of dead the dead to getting adding increased by payment at the immediate tomato. Yeah man thinks the again yak consumer credit towns insurers are awesome yeah Dario and. Are we are not down and got right about in like five years bought off premise that a similar all. I direct under them and your right it is their they're there are people that ought all the got a lot of different solutions. And it is the real the only area a lot of people out and they are you at our annual result we've got me out. There's a letter or profit place you asses they are through the government so they are not for prime is a non for profit. Financial. Status that exist there that really the vast there really are you know most of my debt was one delicacies he's yes it was one of those agencies one of those for profit I don't really yeah. Yeah. Are you supposed to tell about because they sell you. They meet it's a very appealing but what she sees yes advertises on the buzz so yeah I get the message and. Answered they're great clients in and they are truly like. This but this is this is too good to be true yes seriously. They'll take all your stuff they'll put into one payment they call all your credit cards are your daughters and they worked on the the rates don't in his career 866. On a typical anymore and examined by the worked out for you. Rethink ebitda are they should. Yeah Muslim citizens I don't know or there is I understand. Of yourself but at that and many years. But Ares opponent bang working on your network not a or. Yeah man thinks it has not yet been excellent what's what's that. I hung up on the last hour is do you giggled. Yeah yeah. That's your debt below and Sony is paying me to tell. Them to act at.