Millionaire Reacts: RANKING STRANGERS BY DEBT | Jubilee

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[StarBoy-ewyx]

I have a bachelors degree in business. Every job started at 30-40k/ yr…… I continued my education in a skilled trade. I’m about to be making 150k/yr! Only have 27k students loans. Super excited to pay everything in the 1st year. Live in Tx & 24 yrs old.

[thehospitalguy]

I would rather have the $2million in Real Estate Debt than any of the debt that the others have. I do have over $250, 000 in Real Estate debt on a home that is worth over $750, 000. I don't see that as a bad thing.

[Moska]

When i got my first job (and with it, my first credit card) my sister gave me a 'card pouch' with Terry Crews face from the 'everybody hates chris' series. Any time i would impulse buy i had to look at that face... As he used to say in the show, "if you don't buy it, the discount is bigger".

[codyadams]

Dave Ramsey just blew a gasket hearing you say “pay the highest interest rate first”

[lillianlamantia]

I agree with what you say about the trades being “recession-proof”…. My husband and I always said we would encourage our kids to get a trade first then if they want to get an intellectual degree they can go to university and still earn decently during the holidays… kids have their own ideas - the eldest wants to be a (medical) doctor… Oh well, it’s a pretty good recession-proof job too and thankfully university is free in our country so perfectly reasonable to do debt-free if you are willing to work during the holidays and/or live at home.

[zouayang]

Nursing school: you can go to an expensive university or a community college at the end of the day you sit for the SAME exam. No one asks you which university you went to, employers just want to know if you passed your boards.

[rosya.traveler]

It seems that the one in light green dress, she is becoming comfortable with her debt. To not see it as something bad is a *BAD* mindset. Borrower is enslaved to the lender. -- she should definitely try her best to follow Dave's 7 baby steps.

[Yurikan]

I'd say if someone is using a credit card as a debit card for gas or groceries and pays it off each weekend (which is basically all I do with my cards), it isn't too bad. Think the biggest blunder I've ever had was paying the wrong card and ending up having like 400 dollars in credit on it. I actually kind of hate regular debit cards since you get more protection with the credit card.

[kayesantos]

Sliding in to say that, you can get your associates degree in nursing via community college for a few thousand dollars BUT if you go to university or private, it's much more expensive. So in terms of ROI, it can be pretty worth it. Also nursing in terms of pay is a pretty good career to pay back your loans if you have to take them.

[byroneveley]

Truck driver here grant.

Originally went to school for business admission. Had to give up on that due to not be able to cover the cost and school.

So put myself in more debt to get my CDL and 1.5 both schools are payed off. We need to let the young know there is more to life then higher education.

[littleripper]

The problem with a lot of people are trying to live like they earn more and don't stay in budget. They say they need things but often you're living in a neighbourhood above your income and buying things you can't afford. It's not the same thing as getting a mortgage. Also unless you absolutely need a car for your work like your in trades you have no excuse for financing a car. Most people don't need to commute to their office job in a car, take transit until you save up.

[KilozMedia]

Pay off that debt every month! 💪🏽 best advice anyone could give

[thehospitalguy]

Nursing School can many times be paid for by the employer. I work for a hospital and we have a program when RN's can get back the money they paid for Nursing School

[BordomLive]

Luckily at my school we had a personal finance class that was one of Dave Ramsey's programs for high schoolers about how to stay out of debt and how to deal with debt

[IslandPonder]

Good to find out Graham has fantastic taste in music.

[degenspartan]

people don't want to do trades because they're harder on the body than office jobs

[LoganAllec]

What is a "Jane's Addiction"?

[jacobt]

The Ramsey method of smallest to largest is a momentum thing...if you're highest interest is a 30k student loan the average person won't feel motivated to hammer it...if you're on here listening to Graham then you're already a step above and know debt is bad just pay it all off to build wealth

[Timothy-Walker]

My debt nothing like my guy's 2 million dollars. Keep that real estate up my guy!

[beckypetersen]

At 6:18 you mentioned the Dave Ramsey intervention and then said to start with the highest interest rate first...Seriously...that's not his Baby Steps - it's start with the smallest loan - regardless of the interest rate and pay them off from lowest to highest - called the Snowball method. The one you mentioned is called the Avalanche Method and isn't what he promotes. He says this works because it gives a person a boost every time they pay off the little ones so you have momentum to get those larger ones paid off - so it is more psychological.