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This 2024, Don't set this year financial goals without consulting a financial advisor. Their expertise ensures a solid plan for success. Building wealth involves developing good habits like regularly putting money away on intervals for solid investments

sobbing in $12 minimum wage

omg. this really made sense and i love how encouraging you were.

Great. My mom put me on one of her accounts so she could give me a credit card and have me run errands for her. But she stalls paying off her credit cards because it stresses her out. I had no idea her adding me to the account could impact my credit. Not that she asked first.

Thanks bc I didn’t know anything about credit loans etc i wish they would teach us this in high school instead of that other stuff, this was very helpful

So once my child turns 18 all the money I invested, can she get that to help towards college or something else?

The card protections and fraud protection are the same for debit and credit cards. I feel like you could accomplish the same thing you’re going for but I just having a second checking account with a different bank. Just transfer your budget amount to that bank every week for your gas and only use that debit card. That way if the card number stolen they don’t have access to very much money at all, and if it is a separate bank, it won’t affect your primary debit card. you may also be able to open up a second checking account at the same bank with a different card. For me, my wife and I have a joint account at our bank and we both have separate checking accounts as well which we use for our discretionary spending. I use that card at the gas station. It is separate from our primary joint checking account.

Our journey is different than most. We cut up our credit cards, all but one. I don't know why we didn't but it never got used. It's the only one that was true for. And in the last two months, we have used it twice and paid the full amounts within the week. Why? Because of some of the protection you named and a few others. Our living conditions are unique (we live in an RV because we felt we needed to be mobile.) As such, we have treated that loan more like a home loan than an auto loan. We're still making moves to pay it off but we have serious health concerns we are taking care of first. We paid off two cars several hospital and doctor bills, and two credit cards (which were not only cut up but cancelled) for about $50,000. And we bought a used F450 truck with cash.

You cannot lose your house. If the interests go higher than the value of the house you cant lose your house. Thats when HECM puts a stop and pays a certain amount so you will not lose your house. This is a Goverment funding reverse mortgage. You have built up your credit. Reverse mortgage is good as long as you live in your house pay your taxes and home insurance. 😊

Can you get one or the other, just have a savings account and can you then get a card to use at the banks ATM?

Thank you for this explanation. I couldn’t find well explained content on the Dave Ramsey show.

Thank you for your video!

For anyone who is wondering about renters insunce after watching this video make sure to do research before running with the info on this video. Things have changed in the last few years. I looked up estimates of renters insurance and it was up to $150 a month.

my advice..stay away from these rip-offs..they are like loan sharks...its the hidden fees and rates they dont tell u till its too late...

Right to the point and well explained

At a credit union, would I be able to take out ALL the money I have in savings with no problem?

Buy at lowest price possible, sell in 20 years

A lot of people don’t realize that even if you pay your cc balance off in full each month, you could potentially lose money due to fees.

Why did you block your video on Edpuzzle? It's a great resource!

Thanks. Wealth of information.

This Is A Great Video Because I Am Getting Ready To Go Back To Work And Getting Ready To Rent My First Apartment. Since I Been Living With My Parents For Years And I Want To Have A Place On My Own

what if I don't feel FAFSA is enough? I'm a single mom, and don't want to graduate school in major debt!

Thanks for the information

Get someone to help you do an Excel spreadsheet with all the numbers before you buy into one of these things. The numbers will prove that about the only people it will work for is single people who no heirs who have a terminal illness and will die in less than five years. Anyone else will get the same results as borrowing money on their credit card without making any payments. Compound interest will make the amount owed skyrocket. Don't believe me. Don't believe some guy with a RUclips channel. Do an actual spreadsheet with all the numbers calculated over the next twenty years. Calculate the real numbers over the next ten years and believe those.

Good way for corporations to eventually get a hold of all the housing, so infuriating

Very informative video! Thank you.

nobody is getting 12% anywhere...

Very clear and helpful : thanks! Didn’t realise mutual funds had such high fees! BTW does each country have different index funds and are they limited to just one country’s stocks? Or are there more global’ index funds that track multiple countries’ stocks or index funds just for emerging markets etc ?

why would there be monthy matinence fee?

Love it!! 😊

So as a married couple paying 12k in mortage interest and 3000k in property taxes. I don't get a deduction?

As a young guy looking for what it takes to live on my own and I’m glad I’ve watched this video you cover all the points and have extra rid bits on how I can be ahead of the game!

It also depends on your situation. With my big bank, I can order checks (yes, I still use them) from an online company at a cheaper price and use the wire transfer system for free. With my local credit union, I have to order checks through them only, and they charge much more. The credit union account number is longer than a regular bank account number, so I couldn't use it for some transactions. They also charge $20 for each wire transfer. These are a few things I discovered in the beginning, so I decided to stay with Citibank. The credit union offers better interest rates than my bank. But some online banks, such as SoFi, CapitalOne, Marcus, etc, offer even better rates. Maybe when my life gets simpler, I might change to a credit union in the future but not now.

Annual variable rate 3.67% annuel what its means?

Dave promotes a no credit card lifestyle, so it's understandable why he would not want to embellish someone using credit cards while becoming debt free. With people you have to choose a side to be objective and effective. A dietician might tell you to not eat sugars or carbs. While this is not applicable to everyone or a definitive statement. However if you are not firm with your principles, then people will use it as a copout excuse to while they failed, because so and so got debt free with a CC, or so and so lost weight while always eating high sugars and carbs. It has to be a blanket statement principle. The same way you would not budge with your integrity of omitting using a CC while getting out of debt, well, Dave has his principles of integrity as well. Also, it shouldn't matter who validates or exhibits your victory with finances. I recall getting out of debt going into the pandemic. Not once did it cross my mind to tell anyone. lol. I imagine most people who become debt free, just carry on with their debt free lives. Congrats on your accomplishment.

Get a lawyer to explain the reverse mortgage

FDA reverse mortgage????

This is great information for new and on going student thank you

Amazing video ❤ getting an apartment is so stressful lol especially when getting w2, paystubs and bank statements I had to pay an online vendor for help

This video is inaccurate and misleading. There is no limit of 6 transactions per month on money market funds. Money Market Funds at banks, especially small banks are not the same thing as the options available at a brokerage like Fidelity, Schwab, E*TRADE, and Vanguard. Most banks are paying 0.6% to 3.75% but you can get 5.25% with VUSXX and near 5% on most other MMFs at brokerages.

Very informative, thank you

Hi first, thanks for the video. "If I have to pay the IRS but fill out the taxes with my wife? In the application where they fill out the ones we have to pay, there is no option for those of us who have to file taxes together. Last year I filled out alone."

I’m glad I switched back to a credit union a few months ago. I’m at a very good one! #FMFCU

Very helpful video ❤ getting an apartment is so stressful lol especially when getting w2, paystubs and bank statements I had to pay an online vendor for help

Investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good?

Well done!!!

Ive had my identity stolen 3x in my life. I paynfor lifelock and use credit card for all online purchases. I still pay it off and obstain form new payment. Dave can suck it.