Personal Debt in the USA is out of control

[2 Up 2 Down]

Car loans are the all time worst.

Cards are healthy to build your credit score. Make small purchases and pay them off every month and once a quarter, call the bank and ask them to raise your spending amount. This all boosts your credit score.

Yup. Save up a bit and pay them off when you get paid. That should be easily accomplishable if you have a decent paying job and you aren't recklessly buying stuff

 

[Givethanks]

Debt's scary AF and I'm shyt at money management. Because I know its a recipe for disaster, I am cheap AF


I know too many guys driving nice cars, going out every week, buying nice shyt but always asking someone to spot them "20 for gas or take 6 months to payback their friends".

I know a girl that called her boyfriend on the vet because she didn't realize how much it cost to vaccinate dogs lol.

My mechanic calls BMWs (broke man wagons) because it's always some breh trying to fight him on the price of repairs.

Everyone's rich and no one's broke lol

 

[beenz]

The picture says it all

FYI, this is a great channel to follow on YT.

 

[winb83]

FYI, this is a great channel to follow on YT.

He's like a polite Caleb Hammer.

This guy is comedy gold

Yusuf Benallal

Whats up YouTube !! Car Dealer just sharing my day to day life and thoughts, car reviews and financial advice for consumers and businesses! Follow me! 👉TikTok @ridewithyusuf 👉Instagram @ridewithyusuf

www.youtube.com

 

[Sauce Mane]

That’s what he told them to do.

You need to be making like $130K a month after taxes to comfortably afford such a payment. He must have a high income.

He was jobless since last summer, but got a job recently at around 80k

He lives with parents so I guess he can afford

 

[RedCloakBlackWraithe]

Need to go ahead and declare that at that point

or rob a bank

 

[winb83]

He was jobless since last summer, but got a job recently at around 80k

He lives with parents so I guess he can afford

When you're living with your parents you need to be stacking bread like crazy. Spending that money on a car because you have low overhead is dumb. He got the head start most people wish they had and he blowing it on a car that's going down in value.

 

[Sauce Mane]

When you're living with your parents you need to be stacking bread like crazy. Spending that money on a car because you have low overhead is dumb. He got the head start most people wish they had and he blowing it on a car that's going down in value.

His pops owns a business so I’m pretty sure he will be fine

His money, who am I to judge

I can’t afford that because I have different priorities, even though I can buy it straight cash tomorrow and still be relatively ok

 

[Dorian Breh]

or rob four banks

Fixed that for you

One bank robbery ain't getting them out of all that debt

Don't ask me how I know

 

[Whips-n-Chains]

Debt's scary AF and I'm shyt at money management. Because I know its a recipe for disaster, I am cheap AF


I know too many guys driving nice cars, going out every week, buying nice shyt but always asking someone to spot them "20 for gas or take 6 months to payback their friends".

I know a girl that called her boyfriend on the vet because she didn't realize how much it cost to vaccinate dogs lol.

My mechanic calls BMWs (broke man wagons) because it's always some breh trying to fight him on the price of repairs.

Everyone's rich and no one's broke lol

I used to have a beamer 535i. Loved that car but there was always some shyt going wrong with it randomly. I don't even give a fukk about cars any more tbh...Once I have some more rental properties going and shyt like that, I'll get something used that's decent, but rn I'm trying a 10 year old accord I paid cash for.

 

[winb83]

His pops owns a business so I’m pretty sure he will be fine

His money, who am I to judge

I can’t afford that because I have different priorities, even though I can buy it straight cash tomorrow and still be relatively ok

If his pops doesn't drill some financial literacy into him then when his parents are no longer here he'll blow everything.

 

[Whips-n-Chains]

What helped me get my bread right was:

Cooking at the crib
Not going out to bars or clubs
Not taking bytches out to eat
Stayed single for years and just had a roster that was down
Going to the gym as my hobby/outlet
Learning about investing, then investing
I didn't even take trips anywhere for 2-3 years too

 

[AAKing23]

They would make for some some great Squid games competitors

Meanwhile I’m here plotting on when I’ma cop my Porsche Taycan with plenty of money to spare

Debt adverse lifestyle FTW

 

[winb83]

They would make for some some great Squid games competitors

Meanwhile I’m here plotting on when I’ma cop my Porsche Taycan with plenty of money to spare

Debt adverse lifestyle FTW

I hope you gonna buy a used one that's like 3 years old or you gonna take a bath on the depreciation of a luxury EV some of these shyts are losing damn near 50% of their value in less than 2 years.

 

[CashmereThoughts]

People really need it drilled into them that debt is not some shyt you use to go out and buy toys for yourself. Debt just allows people to buy things they really can't afford especially cars.
.

Drill it all you want. The average person can’t be responsible with 75k of purchasing power of someone else’s money