$100,000 in Debt: 'WE ARE TRAPPED'

-----------------------

‍👌Resources I use/would use (with discounts/sign-up bonuses):

-----------------------

#financeaction #financialfreedom #itsromainfaure

🕒TIMESTAMPS🕒
00:00 PARTY STARTS
01:21 WHAT THE HECK IS GOING ON?
05:37 EVERYTHING HAS BECOME SO EXPENSIVE!
09:03 INCOME & ASSETS
13:30 CAR SCAMMED AGAIN!
17:10 EXPENSES & DEBT
20:16 INSANE AMOUNT OF RISK!
23:00 $100,000 DEBT TRAUMA
27:11 NEGATIVE NET WORTH
33:55 REAL ESTATE GOLD KNOWLEDGE
38:16 THE MONEY CASE
41:02 WHAT WOULD I DO?
47:56 DAVE RAMSEY IS OUTDATED
51:25 WHEN TO BUY A HOUSE?
56:38 DID THEY TAKE ACTION?

▬▬▬▬▬▬▬▬▬▬▬▬

Disclaimer: Please be aware that this video and all other content produced by Romain Faure are not intended to serve as investment guidance or formal financial advice. The information presented is solely for entertainment and educational objectives. The money displayed in our video podcast is for entertainment purposes only and is not real currency. All cash shown is prop money, and should not be mistaken for genuine legal tender. Please enjoy our content responsibly!

Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank, Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.

▬▬▬▬▬▬▬▬▬▬▬▬

Financial education, Finance Action, American debt, personal finance, budget money debt cash, how to invest in real estate, how to start in real estate, rental property, investment property, compound interest, buying house, insurance, save, buy, pay off debt, debt free journey, financial independence, how to pay off debt, how to pay off student loans, debt snowball, financial independence retire early, how to pay off student loans fast, debt payoff, how to make money, get rich quick, get rich, make money online, net worth, loans, credit score, should I go to college, college debt, student loan forgiveness, debt free community, student loan, credit, loan, budgeting, stock trading, crypto, finance, budget, student loan forgiveness, car payments, credit card debt, debt, credit card, payday loans, car debt, The Dave Ramsey Show, The Plain Bagel, The Rich Dad Channel, Graham Stephan, Meet Kevin, Ryan Pineda, Elena Taber, Noelle Randall, Lili Thompson, John Olfert, Bigger Pockets, Caleb Kids Show, Dave Ramsey Live, Caleb Hammer, Coffeezilla, Bridgette Wilson, John Oliver, Che and Cherice, Caleb Maupin, inflation, manifestation.

[FishyBurrito]

I was an avid follower of the Caleb Hammer channel for a couple years now (for those who don't know, the concept is similar to Romains'). He was my intro into the personal financial responsibility world, and I am grateful for finding him..However, Caleb has become more of a 'character' that his massive audience expects. His berating, bullying, and yelling is maybe entertaining but has lost its' informative aspects.

You Romain, are doing the perfect job imo. Sensible, empathetic, but also realistic with your conversations and advice. You deserve to have 100x more subscribers, because people (like myself a couple years ago) need to get the information you give in a format which is extremely positive - no matter the guests' dire situations.

Thank you Romain, and I truly wish you the success on this platform that you deserve. Don't change what you are doing, much love!

[Kootenay]

"We had outgrown apartment living." No, you haven't! Sorry, but if you are $100K in debt you haven't outgrown apartment living.

[Kootenay]

These guys are a great example of why it is so important to keep a written budget and pay attention to it. It is their avoidance of the situation that is hurting them. If they had spent the last 5 years paying close attention to their expenses they would be debt free by now.

[bostonbakedbeanie]

This couple seems so sweet and determined, and the plan was actionable and encouraging. They will definitely get their dream house someday!

[Natalie_]

They HAVE to get health insurance, and short term disability given they have physical jobs. A twisted ankle will have them in financial ruin.

I’d wait on the car and Uber until I got health care as painful as it might be. I wish them luck.

Found your channel today!

[jordandowland]

2400 square feet for two people is super excessive.

[FreedomPlaya]

I love your show Romain. You really seem like a kind and compassionate human that wants to genuinely help the guests that come on your show, and we, the audience learn from every episode. Greetings from Mexico :)

[johnkelly]

We wished we understood how the mortgage payment for the first 17 years was mostly interest and not principle (the origional amount owed). We would have made more and the most extra payments earlier to the principle, every extra dollar to drive the principle down to not pay so much interest in the long run. We have put extra on since then. But good info Roman.

Our sister gave us a good tip. Buy a house lower than you can afford. Home insurance go up and so does property taxes in time (called Escrow) over a fixed 30 year loan. And it did. We even went a step further and bought a house one of our incomes could manage.

[jennifermessmer]

I love the way you explained the housing cost adds up and is so much more than rent. That really opened my eyes to the reality of owning a house. Thank you for your reasonable approach to finances and for helping people!❤

[hank]

I’d love to see a follow up on them in 2 years. Hope they can get it going!

[Windwing]

Hey Romain,
I don’t really comment on YouTube videos but I just wanted to say how much I appreciate your empathetic and thoughtful approach with people.
I know in wanting to succeed on a platform like YouTube it must be tempting to fall into sensationalism, but I think to really help people in these situations they need to be helped without shame and without prejudice. It’s hard to take people’s advice when you haven’t connected with them and the way you connect with people on this show is really positively impactful. Never stop being you and I can’t wait to see what else you do ❤

[kimberlyf]

What's crazy is a $100K education to be a Vegas performer for $75K more than 10 years after graduation.

[csa_yt]

ROMAIN: I would love it if once in a while, you would do direct tips to us, the audience, about organizing and growing your finances, how to deal with financial problems in your life etc. Finance advice basically, directly to us. Once a month or more but that would be awesome! 😎

[danielintheantipodes]

I just hope that they can get health insurance before any illness hits them. Scary to be without in the US. Thank you for the video!

[aprotista]

Romain, would you be interested in creating a series educating us, the audience? I know you have a few on your steps to increasing our income, but I would really love a deep breakdown on what you discussed on this episode, specifically on the steps/preparations we should make as we make ourselves ready to enter into real estate market and purchase our first property. This is something I've been struggling personally and I feel so lost on where to even start and what to aim for. Thanks for all you do! Yours is my all time favorite finance channel! ❤

[sharoncollins]

I hope they watch their episode with you and read some of the comments. They would be wise to follow your advice and I hope there will be another update.

[Allnatural]

I hope these guys are prepared to pivot, if necessary. Unfortunately, you can't be a performer forever and at 33 how much longer is that career sustainable.

[tmusa]

Ouch. I make double and my house payment is half of their rent.

[joshlowell]

There's 2 problems that they are not considering, one they are not getting their yearly check ups at the doctor because they have no health insurence; so they don't know whether they have a medical issue or not. Two they are 33 and a performer's career usually ends at the age of 35, just like an athlete. If they think they can do their performing at 40, 50, 60 they are not looking ahead in a realistic way.

[eibunhataoka]

Thank you Romain,
Another good episode,
I learn a lot by watching this show.
from San Diego!