I’m 22 Years old With $100,000 Of Debt
Visit the Dave Ramsey store today for resources to help you take control of your money! https://goo.gl/gEv6Tj
Welcome to The Dave Ramsey Show like you’ve never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from people like Rachel Cruze, Chris Hogan, and Christy Wright —as well as all kinds of other video pieces that we’ll unveil every day.
The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!
Dave didn’t do his math right. 75$ in L.A is like 35k in TN. He would have to sleep in his car to have 30k pay off each yr.
Wow. Only 22 with that much debt. I'd b crying if that was me.
kid was taken for a ride
75k in LA is about 25-30 everywhere else
To pull this off, he's going to have to choose a little shoebox of an apartment and live the most basic life he can.
I hate how our society encourages us to take debt to go to college
An engineer who paid $27k for…a KIA?????????? lol, better hit the books again, in mech. engineering this time
He will have to pay California sales tax on the car as well. STUPID.
meanwhile i know a guy who parents bought him a new porsche while he was still in highschool
I paid $500 for my first car. My second car I paid $1200. When I was 22 I was driving around in a $1700 car. Then I bought a $2000 car. The $2000 one lasted 5 years. all of these I paid cash.
Here's an interesting comparison: 30 years ago I graduated from college with $5K in debt and got a job for $30K/year. This guy has got a debt way higher than has annual income. Higher education has gotten outrageously expensive.
I'm living on free cereal at work 😀 Saving so much daily.
If he pays off his debt by around age 25 and just saves at least 20% of his income afterwards, he will have a lot of $$$$ in 5 to 10 years.
A 27k Kia he should’ve gotten a new 30k Tesla
My husband got a job offer in LA making $210, 000 and we turned it down. We are a family of four, we can not afford a home 3-4 bedrooms in LA on that income. We were looking at a small house 800 sq feet for 1.2 million.
I cant wait to get a new car soon after my networth reaches 1m. So close and just replaced a 21yr old accord with a $6k mazda.
Even I think about a new car most days, I have a feeling I will eventually buy a out-of-lease, 3yr old car and drive it to the ground and get the best value out of it.
I’m in the same boat. Freaking student loans
Hate Dave Ramsey so much now
Realize that $75k in LA is 50k in Nashville , for example ..there are plenty of cost of living calculators online that people refuse to use
Dave has no idea how much the cost of housing is in LA. This dude is not gonna do any of this.
at least he called in at 22 years old for advice and didn't wait until he was like 32 or 42
7/5/18…..Get rid of new Kia for $5,000. good used car b/c cheaper + insurance is much lower…..THEN pay $1,000. each/
every month to get rid of huge $120,000. student loans….+ put maximum into 401 esp if employer adds/matches.
Beans & rice/rice & beans & he'll be on budget.
ALSO share apt to save $$$.
I was dumb in my early 20s. Graduated with 25k in student loans and maybe 5k in car debt which wasn't bad relatively speaking, but I spent a good number of years after that being dumb. I was getting 30k bonuses (live in Southeast Wisconsin so not huge cost of living, 30k is a big bonus here) and would just pay off my credit card every year with it. But I was never getting ahead.
Now I'm out of debt, quit my corporate job to have successful software consulting practice and real estate investments. My daughter being 11 and son 7, I'm praying I can teach them well enough to not get into situations like this guy because it was to a certain degree how I operated in my 20s. Since the very beginning they've had to break up their chore money into save/give/spend stacks (in that order) and we keep the money in cash in the house, so that they can feel it when they give or spend that money.
A lot of idiots in the comments section thinking Kias are what they were in the 90s. Car brands grows up, Kia did. I'd buy a Kia over a Chrysler (exception to Grand Cherokees).
It’s unrealistic to think he can put 30k-40k toward debt on 75k in LA. He will be lucky to put $10k towards it.
I like to watch Dave while I'm counting stash of tips, before going to deposit them in the bank.