Doom Spending & Credit Card Debt is Out of Control…

My 2nd Channel @ZacRiosV2
Chapters
0:00 Subscribe!
1:15 Impulse Buying
2:55 Hopeless Doom Spending
4:00 Doesn't Know What Debt is
5:00 Doom Scrolling
7:58 30K in Debt
9:45 71K in Debt
11:55 Buy Now Pay Later
14:00 210K in Debt
16:35 People Trying To Scam Tiktok

#debt #finance #money

[challengingmind]

Oh hell no! You just did not say that! Not everyone on section 8 has credit card debt and a lot of them have jobs. There are all sorts of people on section 8. Not all of us are cringy, nasty, and irresponsible.

[geraldn.]

When my wife died of cancer, I owed $80K. I worked mega-overtime since January, and brought it down to $27K in August. I hate debt. I must rid it!

[vinculaomega]

"I check my bank account every day, even when I don't have to".

Brother! I thought I was the only one! I'm just so paranoid that a payment is not going to be covered that I have to check it all the time! But I know that it will be covered, so the check is entirely unnecessary.

[DrValentine]

I had a little over $3k in debt at the beginning of the year, i was so stressed out that i was sick everyday. I can't imagine being in debt so much. The good thing is I been paying it off and only owe $250, still a little stressing but I'm feeling relieved, better than owing $100k+

[kylescruggs]

Being an early Gen Z, I grew up watching my parents go through the 2008 financial crisis. At one point they had accumulated close to $100k across multiple credit cards. The stress it put on my folks made me realize that I couldn’t go down the same road. At 27, I’m thankful that the only debt I have is a mortgage.

[mwilson]

My brother told me a coworker of his, came up and asked him for $1500. She said it’s not much, that she couldn’t get a loan because she was behind on payments on another loan already. My brother said she also calls in a lot, he told her she shouldn’t be calling in if she needs money that bad. There are so many employees he works with that are terrible with money.

[TomFromMypace]

Went from $35k in debt at the start of the year to $20k in debt now. Hoping to have it almost entirely gone by the end of the year and paid off by early 2025. It's rough out here and you never know people's situations, but doom spending is some dumb entitled childish stuff.

[iamswarms]

As a singer once said "Life goes on long after the thrill of living is gone". Making poor decisions now will make the rest of your life miserable. I have NO debt. I worked my ass off and did nothing but pay off debt. Now I have none. I can be FREE! Much better than expensive shoes, or whatever people are wasting money on these day.

[trickyrichard]

i get neurotic over $400 in credit card debt for essentials like gas and groceries. I can't imagine just letting it get THAT out of hand.

[cooliipie]

A financial advisor once told me, you can buy whatever you want as long as you can pay for it in cash.

[danwithguitar]

Spending on wants over needs really doesn't make your life better, it just gives you a temporary dopamine hit and buyer's remorse.

[poke_ak]

"doom spending" wft... I thought Doom spending was buying ammo storable food propane water Etc... this is not Doom spending this is degeneracy at its peak ffs 😂

[danabe]

I pay off my credit card balance in full every month and get cash back rewards. The credit card industry calls me a deadbeat since I don't pay interest. The credit card company is paying me.

[jordanmcgrory]

The great thing about doom spending "because you have no future" is that every doom spender is correct. They will get exactly what they were expecting. Whereas people who try to be sensible with money, we don't necessarily get what we hope for - it might all still fall apart on us. Really we're the crazy risk takers and they've hit upon a foolproof strategy to have total certainty about their financial future.

[nghermit]

If you need to finance it then you can’t afford it, simple.

[db]

I have $ 17, 000 credit limit and almost NEVER go over $1, 000 - $1, 200 between pay periods. There are people out there that actually think the bank is just giving out free money huh?

[ninives]

All these grown ass women acting like teenagers on TikTok tells me they’re in a perpetual state of arrested development so I don’t expect them to keep their finances in check.

[gracedeace]

Everyday I’m thankful that my accountant parents taught me about finances at a young age. They said never charge something on your credit card that you couldn’t pay out of your checking. Live by that rule.

[vickiamundsen]

I use my wishlist as a sort of "impulse insurance." If for some reason I get a sudden spending urge (often right after I make the mistake of reading the news) I have a list of things that I actually need and can afford, just waiting for me.

[davemalis]

I have no debt and I drive a 22 year old car. Glad I escaped that catastrophe.