Money Expert Brilliantly Exposes The American Finance Trap | KOSHER MONEY

Meet Igor Meystelman, a debt specialist who gives us an inside look into the world of debt.

He uncovers the real truth behind credit cards like you've never heard before and shares eye-opening stories about the debt people are facing behind closed doors.

He was so eloquent and quite a few of the things he shares will really open your mind during our latest Kosher Money episode.

Igor has his own podcast on relationships.

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CHAPTERS:
00:00 Intro
02:20 What Does Igor Do For A Living?
03:20 The National Credit Card Debt Problem
11:12 The Credit Card Illusion
13:02 Credit Card Debt by the Numbers
15:04 Credit Card Company’s Saviness
17:46 I’m In Debt, Now What?
23:00 Colel Chabad
24:35 How to Stop the Snowball Effect of Debt
32:12 How to Help Others in Debt
36:06 Paying Off Debt with Equity: Good Idea?
39:28 The Donors Fund
41:21 Necessities Vs. Luxuries
46:27 How Credit Companies Get You
49:39 Is Freezing Your Credit a Good Idea?
51:18 Filing for Bankruptcy
54:08 Twillory
55:21 Giving Your Identity to Someone Else
58:46 Becoming a Marriage Counselor
1:05:36 Outro & Book Giveaway

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[stevedars]

We are fully debt free, mortgage and all. We still live frugally, those good saving habits never leave you. Living without financial stress is the most underrated feeling I know of. It’s heaven.

[ike]

Two insightful things that the guest mentioned: 1) He took action to change his surroundings and moved when he realized the financial threats to his family. 2) He understood scarcity since he grew up in the Soviet Union. A wonderful guest who seems empathetic towards those in trouble!

[aribiegeleisen]

I just finished paying off 50, 000 dollars in CC debt, its the best feeling ever! I haven't used a CC in at least 6 month

[sergiyradonezhsky]

I gotta say, I'm not Jewish but I really like this channel. everyone should watch it.

[rzmk]

Being a Muslim, we could have a difference in many things but whatever you said here is absolutely gold. In the end of the day, whatever you believe or do, you deserve to live in Peace.

[Tchild]

This should be mandatory teaching in every high school in America.

[Susan-iqdi]

Excellent and insightful presentation! I grew in what would be described as an underprivileged area, the daughter of Polish immigrants under communism. We really started with nothing, yet no one on our street had financial problems. We paid off our modest homes quickly, lived well within our means, and were working any job we could procure by age 8 or 10. Most of us went on to pay for college and enjoyed successful careers. As far as I'm concerned, I had an excellent education, lacking nothing. Money in the form of credit is not success. Life without credit is truly success.

[raiden]

Only 47% of CC holders are carrying a balance from month to month, the rest are benefiting with the convenience of CC swiping and rewards. You say there is no emotional response to swiping a CC, but as someone who pays off the CC each month, i can say i feel the emotions of upcoming expenses like all the food costs on an upcoming trip before even arriving. I think some people are impulsive and some are not, and some are in between. The CC is a tool that is bad for the impulsive but perfectly useful for those who are planners.

[PowerfulMoneyHabits]

I froze my credit after identity theft 2 years ago. It helps keep me responsible and keeps the thieves out!

[cheapandchic]

I decided not to have a credit card thanks to this channel (in my country you don’t need it to build credit). I’m so glad I’m living my life more responsibility, and within my means. If I know I have an event coming up, I start saving a couple of months in advance to be able to afford a new outfit/gifts/the trip.
Thank you guys. Much love from Croatia ❤️

[deborahjackson]

I’m out of debt. Paid off student loans, credit card debt, it feels so good. Won’t take out debt again. I’m free.And now my credit score is 821. 😊

[keith]

I thank G-d I no longer have car, student loan or credit card debt. It's been really difficult to get there. You have to look at it like a predator that wants to devour you and treat it accordingly.

[aggieglitter]

Igor is a fascinating human with so much wisdom. I could listen to him all day long. And you always ask the right questions and are a great listener. I love Kosher Money. Love from Sydney.

[someonethatwatchesyoutube]

I’ve been saying for decades “ I work nearly half the year as a SLAVE for the “government.” I don’t want to work for a bank too.”

[shauneilscott]

You had my attention from the start because I BELIEVE that is exactly why people end up in massive troubles other than scammers or an unexpected health crises. I am sharing this for sure today! Thank you!

[klaraschumann]

I can't believe they did an hour long piece that comes down to "Don't buy stuff you can't afford".

[TheGayStoic]

It's very empowering to listen to Jewish wisdom about money. Thank you for letting us in. Godspeed!

[mmp]

Hello from Phx AZ 🌞. I personally do not use credit cards due to the industry being so disgusting and how their system works. It's been great for me not to follow the crowd. Excellent discussion and very insightful . Please bring Igor back.👏

[jasonyitzie]

This show never misses and this guy is on point. I watched the ENTIRE episode… as always incredibly insightful

[elimass]

Empowering. If you can use credit cards responsibly, they are great. If not, stick with cash.