Відео

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

You guys are just like americans! I don't have savings currently and I'm trying to pay off a lot of debt, and my opinion is that it is better to have some type of savings that you can use for emergencies or a large purchase or paying your property taxes, because using debt even though you have a huge credit line sitting there create a lot of stress. The Bible says that people in debt are slaves to the lender and no matter how quickly you pay it off come as soon as you swipe the card or use your credit line, you feel the burden. There's also something to be said for draining your savings account causing stress. LOL

I really appreciate the dedication in each video you post. Building a steady income is quite difficult for newbies. Thanks to Natalie Rose Strayer for improving my portfolio. keep up with the good videos

We don't have the option to refuse the credit. The system is set up that way. No credit score: no renting, no mortgage.....It's not a choice on the part of the end user, it's imposed by the banking system.

No credit card at 24.9 %

Exactly

The thing is this...looking at your credit card as a form of an emergency savings, or a place you can pull from in case of an emergency, is dangerous. The credit card company can decrease your credit line AT ANY TIME based on no fault of your own, ie the cc company's finances or the economy, then you may not have what you need for the emergency. To depend on a cc company when you have an emergency doesn't make sense, when you can put away liquid money that you can have access to and no one can just snatch it from you. BTW it IS possible to save $18k in 18-24 months for an average person with disciplined spending plans.

Answer:Pay Off Your Debt

It's better to. Build savings VS paying off debt and I know because I have over $300000 in savings and my debt is very, very small VS what I have saved.So I definitely will tell you to build your savings over.Paying off debecause.Once you have money, you can make money on that money which is interest.So that's kind of a gimme

How is $1,000 or $1,500 good for “an emergency?”. It’s like eating a Tic-Tac to ward off starvation

Given the current economic unstable work environment? I think that having a 1 year emergency fund is imperative

Contrary to the gentleman’s disbelief, it is very possible for some to save a substantial amount in an emergency fund. Between my two emergency accounts, I’ve just over $42,000 liquid.

Is it price inflation or is it legitimate inflation and price is merely the manifestation of inflation? I think Friedman said inflation is a monetary phenomenon. Obviously trade wars or sanctions etc can led to price spikes but also 40 years of lower interest rates forces assets higher. Since banks can create money out of thin air with zero reserves during the rona i remember of course it’s inflationary especially since the government rolls the debt over and just expands it.

Your content is deeply thought-provoking! - "Trust in your potential to lead your journey."

Yh I have my emgency savings in a separate bank that I DON'T use for everyday accs and have no other accs. It stops me from dipping. I had to train my brain I guess to every pay day put 100.00 over and now it's like implanted in my brain you could say that, that is my savings and like autopilot 'don't touch'. I was living pay check to pay check - started to save and now at 2700.00 I can relax abit (am low income to). It's hard habit to start but worth it and your brain dialogue will change and worth it. You can do it!! 😅😅

From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.

Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.

I do have an unused line of credit at my bank (not a secured one since I don't own a house), but I could always use that if absolutely necessary. Right now all my extra income is going towards paying off debt. By January I will be debt free and focused heavily on saving all that excess cash. I also have $500 in a separate account for a smallish emergency if needed without dipping into the credit.

Debt pay off is a guranteed return at the interest rate.No debt including home.I do use cc but pay off balance each month.I dont save much cash.I do save in gold,silver,and platnium.If I have a emergency over 1k will sell some silver or gold.Happy investing/stacking

I would like to share that some people think that traveling once a year is sometime we MUST do to have a normal life. I often choose not to travel, still I get pressure from some people who just don"t understand that choice. To put here my situation, I don"t have debts and one of the reasons, is that I don"t travel ! I live in a big city and there is a lot of things do enjoy localy.

Dave Ramsey has been getting people out of debt for decades. This subject matter has been beaten to death by youtubers.

From my experience, my situation wasn't a concern for the "human being" that was trying to collect. Agencies and their representatives are hostile and really don't care about my situation. Essentially, they have the attitude...pay up now or your going to jail.

I agree that debt can fuel inflation, but the opposite is true also. When credit is unavailable, it leads to deflation. So the solution is education and restricting term length of loans. The main driver of car loan sizes is that people are rolling over balances on a car they traded-in to get a new car. I believe that is directly related to extending the terms of the loan to 84 months (7 years) like you said in the video. We should limit it to 60 months (5 years) for a car loan. I know politicians are considering extending home mortgages to 35 or 40 years. We should not vote for those politicians because we should not use financing terms as a way to improve affordability.

This video beautifully addresses the serious issues within the system.

you need to get a real job, man.

No then there’s hell no

This is a bad show. As someone who knows how and how much it costs to maintain a vehicle, these guys promote fear and ignorance.

It’s all a Scam

Debt free

Well great advice but there are loose links here with no benefits.......not exactly true let me explain. 1. Boosts credit score if only main borrower makes on time payments 2. Risk yes it is Also an investment 3. Can be used for collateral to get a loan. 4. Can be used for business or well personal purposes....provided agreements 🤝 are hammered out So quickly dismissing a co-sign is painted in over exaggeration. Oh and yeah you can get cosign with the main borrower with a well undesirable credit rating of 450 say to 535. Choose your path wisely 🛣️ friends. 🎉

I can certainly see the need for a streamlined process. I volunteer with the CVITP. I recently did a return for a woman in a shelter, fleeing an abusive relationship. On filing her return, I discovered she had debt owing of $33,000. Of this amount, $30,000 was clawback of CCB. At the time of filing she had no income but was still hoping for a small refund so she could move to another province.

Canada bankruptcy laws are weird. Here in the USA if u quality for a chapter 7 bankruptcy u don’t gotta pay anything back as long as u are below the income threshold but in Canada ( let me know if I’m wrong) there is no “cap” it’s based on what the government thinks u can pay back

People on social assistance depend on their GST/Trillium/Carbon Rebate if they've filed their income taxes regularly. I can see disability twitter now losing thier minds if they had to file a bankruptcy with a low income/social assistance program criteria.

Exceptionally well done! Without a doubt this should be included in basic education foundations for absolutely everyone.

Bmo visa has this installment plan for me at 0% interest, 0.9% fee. Crazy cheap

Don't get a credit card or get a loan and you're doing better than the guy in the new truck and everything else. ALWAYS LIVE IN THE POSITIVE!

As part of my retirement plans and also owing to the very shaky housing market now, I just sold a property in Philly and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains in months, I'm really just confused at this point.

Thank you so much for this video ❤ I never knew so many people in KW were accessing the food banks, and it is so disheartening to know so many ppl are experiencing such dire food insecurity due to the cost of living crisis. I will be making a donation to my local food bank after watching this vid.

You guys are the best! humour and wit interspersed.

Very good podcast

How many international students are accessing these food banks

What about hardship , food and household things

I was approved based on my credit score and income for a loan to purchase a condo and backed out after doing my research and crunching the numbers. I couldn't really afford it and they really didn't care, and probably knew it. Just a sale for the realtor company. I owned a home in the past and was aware of all the hidden expenses.

I've never been late paying bills but after an injury it was a difficult struggle each month & then as my physical condition grew worse I was using the cards to get the cash to pay minimums on the other cards...yeah, it was All getting worse. I needed to see if any of them had any type of hardship help scenarios & end this credit card nightmare. I really do Not want to file bankruptcy. I called them up & told them the truth, my spinal injury, chemo damaging the bone marrow accelerating the degeneration already in progress shown on MRIs, yada, yada. So not ever being late yet, my paymt history was impeccable but with 95% credit utilized my Fico score now sucked. No chance getting a 0% bal transfer. I called & asked them, what do you offer? So Chase & Discover told me to call back After I'm late with payments, then they'll tell me what they offer. Really??? My whole goal is to Not be late! I am being proactive calling before I am late. The 2 companies that Did offer me help were Synchronicity & Citi. The gave me 0% interest which lowered the minimum payments for a 60 month plan. So I am paying what I owe, but no interest is added! The minimum payments are manageable. So yeah, you Can negotiate directly with them & some will help Before you are late. They said my credit will be reported paid as agreed as long as I pay the new minimum amounts. Hopefully, that is true...guess I will find out. Anyway...You just have to call them & talk to someone & ask what kind of hardship help do they offer & tell them your hardship, mine is permanently injured permanently affecting my income & entire career. IF you get a rep that seems brain dead, just end that call & call back 15 min later, odds are you'll get a better rep. I did.

I can’t imagine buying a home without a 30 year fixed rate mortgage.

The real hidden cost is your buyer's agent. Realtors have been forced to tell you they arent free after lying to us for decades. Now when the seller concession is $10k and it either benefits the buyer OR pays their agent, the true cost will no longer be hidden.

Great video

"Take your hat off boy that's a dollar bill. "🤣

Weird, houses are becoming larger in Canada? Here in Sweden there is a long trend of buying up large apartments and splitting them into smaller ones, sell at a massive markup. Most people I know live in a smaller apartment than they grew up in, even though their salaries are better than their parents', even after inflation.

Credit is actually a LISH, A HANDCUFFS in the hand of a CROCKED EXTORTIONIST, that manipulating you with fals information regarding your credit scores just to make a higher intrest rate on the person.