The Shocking Reasons Why People Stay In Debt (Don't Do This)

The Shocking Reasons Why People Stay In Debt (Don't Do This)

Debt is a huge part of modern life, impacting people from all walks of life, no matter how much money they make, their education level, or their social status. We often think people end up in debt because of unavoidable financial mistakes or tough economic times. However, the reasons people stay stuck in debt are much more complicated and, honestly, pretty surprising. Let’s take a look at the real reasons behind chronic debt–spoiler alert, it’s not good.

[Henry-hpkl]

I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.

[GillerHeston]

Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.

[bannedfromthetavernbannedf]

It took until my mid thirties to figure this out. Tired of having no money at the end of the month, I started strictly budgeting. No quick fix, 20 years later I’m debt free and have a substantial retirement savings and house is paid for. Wealth is invisible….no one would ever know…quite modest material goods

[TheVosack]

"Tomorrow isn't guaranteed, enjoy life now".

It may not be guaranteed but it certainly is expensive if you haven't planned for it.

[jjstile]

I don't really need much advice from these videos anymore but i buckled down 10 years ago and thank God for videos like this! I would be ruined if i didn't change.

[hersdera]

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[brucestiles]

Debt can be thought of as a form of slavery, in that someone else has a claim to the fruits of your labor before you do.

[AadhilaEesha]

Hey, have you guys heard about using financial advisors like Monica Mary Strigle in combination with tax breaks to limit our tax liability and boost our investments in the stock market for 2024?

[Shirley_P-cc]

workers are reporting financial stress amid higher prices due to inflation and more expensive debt due to rising rates. I have savings of $1, 000, 000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?

[Krynale]

Great video and many are not going to want to hear it only to regret later. While it's true there are challenges outside of one's control, more often than not, people will use those external factors as an excuse to avoid working on what they do control.

[abethegamerful]

3:09 To be fair to the guy sitting round after a long day at work at least he's still not spending any money besides electricity which allows him to pay off debt quicker.

[HavocRLJ]

Dope video. Everyone should take heed to this information. 99.9% of people can show you how to spend money but they don't know anything about saving it and investing in themselves for the future.

[Toogoodtobetrue]

Neither a borrower, nor a lender be, Do not forget, stay out of debt! Think twice and take this good advice from me. Guard that old solvency! ~ gilligans island

[ChrisGrill-qs]

*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*

[joekerr]

Make your money work for you so you don't have to work for your money!

[mashort]

When I got married, I took on more than $70K in student loan debt that my wife had, and I must admit it made me bitter. Before the federal pause in 2020 we were paying the minimum balance and it was barely making a dent in the principal. If we had extra money at the end of the month, I remember thinking “this will go a lot further at the grocery store than it will towards paying off her loans.” And that’s why until I got my head on straight, I didn’t try to get us out of debt.

People get themselves in situations where it looks like the mountain is too steep to climb. It’s not necessarily that they’re choosing to treat themselves, but the perception of what their money can accomplish is skewed because when the debt is that big, it looks like you’re throwing your cash into a bottomless pit.

We’re debt free now, thank God. 🙏🏻

[HelenM-fkro]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Veronica Hoy.

[LynnayaLorie]

Everytime I got a way to make money to pay off my student loans criminals have stolen my business or computer or however they could crash me down. I kept trying they kept thieving my merchandise and intellectual property. I kept working at it.

[LynnayaLorie]

And not only that but they also stole my ID my identity et cetera. They get away with it

[newmobile]

the only debt people should have is a morgage 30 year fixed morgage is the way to go everything else pay cash if you need a car pay cash food pay cash clothing pay cash entertainment pay cash simple