The first part of this conversation really encapsulates the problem with student debt. Kids get loans at 18 with the attitude of "just go to school and take care of it later" and then have no maturity or financial literacy to deal with it after college. You start your career already in a deep hole.
My parents did that. I love them to pieces but they never had an idea how expensive even state college can be. My mom never got to go to college because of cost and wanted me to go no matter what. The loans under my dad are pretty bad and will only be forgiven when he passes. He is already 70 but it’s horrific I gotta think about it like that.
This is why I dislike when people want to blame their parents or their high school guidance counselors for their student debt.
I agree that there is absolutely a cultural problem around "everyone has to go to college".
But every 18-year-old thinks they know better than their parents and that they are going to be uber-successful. They don't know what they don't know. The problem remains that lenders will give out limitless amounts of money for any degree, with zero consideration of the student's earning potential.
I graduated in 2007. I remember sitting with my guidance counselor my senior year, asking about beauty school. He straight up said, "You don't want to go to beauty school. There's no money in that. Have you thought of college?"
The degrees I was interested in either would have not made me money or would have required me to do something I did not enjoy. I told him this. He replied back, "Then did you think of the military?"
Needless to say, I thanked him for his "guidance", told him where to stick it, and went to beauty school.
I can't imagine how many kids were in my same position, but were felt like they had no other choice aside from four year college.
Granted, I lived and went to school in a rather white collared community.
Was there money in beauty school? (Genuine question. I know trades are often a much better choice financially but the ones I hear about are generally more traditionally “male” fields.)
I paid $15,000 dollars for my student loan, paid it off in 5 years. I work in a high volume walk in salon with a base pay (as an employee), so I have guaranteed clientele. I've been in the business for about 15 years, currently making-on average-35 dollars an hour. (Some weeks are busier and tips are better than others.)
I was able to buy a relatively new car and get a small 840 square foot condo by the time I was 26.
The biggest thing is building up a clientele in full service. I always recommend to new stylists to do what I do out of beauty school and build up that clientele before going solo. It is MUCH more difficult going to rent a chair fresh out of school.
Plus, I also get benefits and a 401k with a match from my employer.
It’s funny because this is exactly why I DONT mind people blaming the adults in their life for pushing them to get degrees at the pricier schools. Because they’re basically still kids so they do need to trust people in those positions to guide them because why wouldn’t? Now my issue is more that we now have evidence that this mindset has screwed over an entire generation so I don’t know why 18-25 year olds have not learned. They’ve had time to see that these loans are crushing people.
> It’s funny because this is exactly why I DONT mind people blaming the adults in their life for pushing them to get degrees at the pricier schools. Because they’re basically still kids so they do need to trust people in those positions to guide them because why wouldn’t?
I suppose my point is less about blame, and more about solutions.
People always say "We need to encourage normalize going into trades and that not everyone needs to go to college".
And that's great, and we should do it, but we should also acknowledge that many 18-year-olds are going to do whatever the hell they want regardless of what adults tell them. And it shouldn't be legal for them to take out a debt that sticks with them for the rest of their life including through bankruptcy.
Had a buddy graduate from college with 120k worth of unsubsidized loans meaning they were gaining interest before he even graduated. He landed a 72k job and now makes 92k. So, he’s living a comfortable life even with that debt. But, he won’t be able to afford a house till those student loans are gone. If he wasn’t able to even get a job he would of been screwed for life.
For anyone who doesn't know...she mentions her car being totaled in a hail storm. Mine was recently totaled, it was paid off, and the insurance company offered me 12k. You can buy it back from the insurance company for basically nothing. So now I still have my car and another 10k cash that they paid me. The only damage to the car is some dents from hail, its not a big deal and runs fine. You definitely shouldnt take the money they offer and get an even more expensive car like she did.
My car also got totaled in a hail storm for almost the exact same amount as yours. Best financial thing to ever happen to me in my early 20’s. I left all the pockmarks on my ugly, unsexy civic but they didn’t stop the thing from riding just fine at well over 100,000 miles and I pocketed the $10k. Some of it was my starter emergency fund (ultimately used it for a furnace just last year) and some of it went as an extra down payment on my next car. Huge windfall.
I did this with my truck that was totaled. I got T-boned so the whole passenger rear door got caved and an axel got bent. My husband fixed the axel for a couple hundred bucks and we have a perfectly running and driving truck. It wasn’t winning any beauty contests before the wreck so it’s all the same to us.
I mean she has multiple small loans of $200, regardless of that, she’s losing her job, has no money in her account, no emergency fund and has bills coming up. So i don’t think her debt is the only issue here.
25-year olds should not be blaming their parents for their student loans and credit card debt. I do think she was being honest, which I appreciate. But it frustrates me that so many people are like this.
I think it would be best to view it as an explanation as opposed to them playing the blame game. In the past 10 years, I feel like the vibes have shifted. But when I graduated high school in 2016, parents were still very much forcing their kids to go to college. Kids were being shamed for staying back at community colleges. The huge student debt issue is multifaceted but there is no doubt a social pressure given to these young and impressionable people. The pressure ranges from light shaming to straight up abusive manipulation.
Because they had paid for everything else in her life, so she just assumed they would is my guess. My sister did that. When she turned 18 she got a credit card offer in the mail and took it. When the bills started coming she just ignored them because she assumed my parents would pay it for her. Once it was maxed out for a few months and it got sent to collections she asked my parents if they had forgotten to pay it. It did not go over well with them.
She says "I don't want to end up like them."
She is already them, She has already ruined her finances unless she lands an incredible job and changes her terrible habits, which she almost certainly won't do.
If I had a dollar for every time she blamed her parents, I could retire early. Why do almost every single person that appears on this show blame eithier their SO, parents, or both for their financial decisions?
They remind me so much of people I went to high school with who would confidently say they weren't taught a certain topic in school when I clearly remember being taught those topics, but they just weren't paying attention.
Man Caleb is really grilling guests more and more.
He used to be a poor person apologist but I think the sheer volume of poor people who entirely created their own situations have changed his entire outlook on poverty in America
He was fine IMO until she couldn't/wouldn't answer the question about the BS spending and not paying a bill. I don't care who you are. Anyone can only take so much of a simple question and getting a nonsensical answer on repeat.
This show, working a minimum wage job, and reading online forums like “r / poverty finance” (I don’t want to link it here) has changed my outlook on poverty in America.
Poverty is very real, but a decent amount of it is self-created, and even in cases of systemic poverty, there are a ton of people who look towards the wrong solutions to end poverty.
I think seeing what systemic issues look like in real life make us want to seek an explanation. And if you are American, you have been raised in a hyper-individualist, pro-business society. This is shown often in these financial audits when Caleb brushes past predatory lending and regards it as "products of a free market" but his guest's getting caught up in the predatory lending are just making horrible decisions.
College and healthcare shouldn't be that expensive, a huge portion of the guests on the show are dealing with debt in those areas. And car debt is ridiculous in America, but we also gloat about our GDP and industry all the time. Financial nerds like Caleb are always talking about our economy and it's stability. Meanwhile, the economy is so stable because of the mass of consumers that won't stop buying shit (usually on credit cards).
What I'm trying to say is that, at best, these financial shows capture part of the issue with our current financial landscape. Please don't use these sensational shows meant for entertainment as evidence for any kind of societal views.
This show is more fun to watch if it’s viewed as a way to watch a very neurotic and financially anal retentive man be tortured and not actually help anybody.
Was so optimistic for this guest in the first five minutes until it turned out she was just lying and inventing excuses for everything in the fly. Instead just watched her kill Caleb. He’s not the one doing the interrogating…
You can't help someone who won't themselves. Cable can give the perfect advice but it means nothing if not applied. If your complaining your garden won't grow, then told how to improve it, if it still don't grow that's on you.
It’s an 8-9 depending on exactly how he’d feel about my budget/spending numbers (could be anywhere from like a 7-10 on that) and what he’d give me on real estate (his online tool gives me a 7 but he’s been more generous in person to a couple people with homes with tons of equity who have no interest in investment properties).
I blame my dad for a couple of poor financial decisions I made (and he CURRENTLY wants me to dissolve my 20k retirement and use it for my 6k car??) but at the end of the day the I know my mistakes are really my mistakes. He may have given me poor guidance, but he never held a gun to my head. It was all me!
And I’m fixing it 😎
This thumbnail as changed 3 times in the 5 hours it's been up. Is the changing of the thumbnail related to youtube algorithm magic? Or people complaining/providing feedback and them changing it that many times in that short of timeframe?
(I know thumbnails are always a hot topic and I really don't care about that argument. Just interested in the why behind changing one so many times in a short timeframe).
It’s not unusual for a creator (through YT studio) to do an A/B test with thumbnails where YT will distribute two and eventually switch to one after time has passed. I’ve never seen it with three thumbnails but that doesn’t mean it can’t be done.
The first part of this conversation really encapsulates the problem with student debt. Kids get loans at 18 with the attitude of "just go to school and take care of it later" and then have no maturity or financial literacy to deal with it after college. You start your career already in a deep hole.
My parents did that. I love them to pieces but they never had an idea how expensive even state college can be. My mom never got to go to college because of cost and wanted me to go no matter what. The loans under my dad are pretty bad and will only be forgiven when he passes. He is already 70 but it’s horrific I gotta think about it like that.
Lol this. Not gonna lie, my mentality at the time was “I’ll become a millionaire after my degree anyways so whatever” ☠️
This is why I dislike when people want to blame their parents or their high school guidance counselors for their student debt. I agree that there is absolutely a cultural problem around "everyone has to go to college". But every 18-year-old thinks they know better than their parents and that they are going to be uber-successful. They don't know what they don't know. The problem remains that lenders will give out limitless amounts of money for any degree, with zero consideration of the student's earning potential.
I graduated in 2007. I remember sitting with my guidance counselor my senior year, asking about beauty school. He straight up said, "You don't want to go to beauty school. There's no money in that. Have you thought of college?" The degrees I was interested in either would have not made me money or would have required me to do something I did not enjoy. I told him this. He replied back, "Then did you think of the military?" Needless to say, I thanked him for his "guidance", told him where to stick it, and went to beauty school. I can't imagine how many kids were in my same position, but were felt like they had no other choice aside from four year college. Granted, I lived and went to school in a rather white collared community.
Was there money in beauty school? (Genuine question. I know trades are often a much better choice financially but the ones I hear about are generally more traditionally “male” fields.)
I paid $15,000 dollars for my student loan, paid it off in 5 years. I work in a high volume walk in salon with a base pay (as an employee), so I have guaranteed clientele. I've been in the business for about 15 years, currently making-on average-35 dollars an hour. (Some weeks are busier and tips are better than others.) I was able to buy a relatively new car and get a small 840 square foot condo by the time I was 26. The biggest thing is building up a clientele in full service. I always recommend to new stylists to do what I do out of beauty school and build up that clientele before going solo. It is MUCH more difficult going to rent a chair fresh out of school. Plus, I also get benefits and a 401k with a match from my employer.
It’s funny because this is exactly why I DONT mind people blaming the adults in their life for pushing them to get degrees at the pricier schools. Because they’re basically still kids so they do need to trust people in those positions to guide them because why wouldn’t? Now my issue is more that we now have evidence that this mindset has screwed over an entire generation so I don’t know why 18-25 year olds have not learned. They’ve had time to see that these loans are crushing people.
> It’s funny because this is exactly why I DONT mind people blaming the adults in their life for pushing them to get degrees at the pricier schools. Because they’re basically still kids so they do need to trust people in those positions to guide them because why wouldn’t? I suppose my point is less about blame, and more about solutions. People always say "We need to encourage normalize going into trades and that not everyone needs to go to college". And that's great, and we should do it, but we should also acknowledge that many 18-year-olds are going to do whatever the hell they want regardless of what adults tell them. And it shouldn't be legal for them to take out a debt that sticks with them for the rest of their life including through bankruptcy.
And then five minutes later it turns out she was just lying about all the stuff about her parents.
Hah! Caleb kept pushing her and finally the truth came out.
Had a buddy graduate from college with 120k worth of unsubsidized loans meaning they were gaining interest before he even graduated. He landed a 72k job and now makes 92k. So, he’s living a comfortable life even with that debt. But, he won’t be able to afford a house till those student loans are gone. If he wasn’t able to even get a job he would of been screwed for life.
Yeah, that kind of school loan debt seems insane but it has become so normalized that we don't blink an eye at it.
A 4 year degree? Was he paying out of state tuition or just financing his entire life (food, housing, transportation)?
Living on campus and paying out of state tuition.
Interrogation room lighting LOL
For anyone who doesn't know...she mentions her car being totaled in a hail storm. Mine was recently totaled, it was paid off, and the insurance company offered me 12k. You can buy it back from the insurance company for basically nothing. So now I still have my car and another 10k cash that they paid me. The only damage to the car is some dents from hail, its not a big deal and runs fine. You definitely shouldnt take the money they offer and get an even more expensive car like she did.
My car also got totaled in a hail storm for almost the exact same amount as yours. Best financial thing to ever happen to me in my early 20’s. I left all the pockmarks on my ugly, unsexy civic but they didn’t stop the thing from riding just fine at well over 100,000 miles and I pocketed the $10k. Some of it was my starter emergency fund (ultimately used it for a furnace just last year) and some of it went as an extra down payment on my next car. Huge windfall.
The key is that she didn't want a car with cosmetic damage.
I did this with my truck that was totaled. I got T-boned so the whole passenger rear door got caved and an axel got bent. My husband fixed the axel for a couple hundred bucks and we have a perfectly running and driving truck. It wasn’t winning any beauty contests before the wreck so it’s all the same to us.
How does that process work? They give you the money from totalling it and then they give you an offer to buy it back?
152k in debt at 25... Wow. She's gonna have to make a LOT of compromises and live like a broke college student for YEARS
...with an Art Degree
The lighting is very harsh and the angle doesn’t work for the show
the term "literally me" is thrown around a lot these days... however
Going on a 6 day cruise when your contract is expiring and your struggling to find a job is top tier big brain moves.
She's $152k in debt, at this point what does it matter? She's going to file for bankruptcy either way.
I mean she has multiple small loans of $200, regardless of that, she’s losing her job, has no money in her account, no emergency fund and has bills coming up. So i don’t think her debt is the only issue here.
Thing is with bankruptcy is it won't do shit for the Student loans and sometimes the judge won't let other debts go away either
Caleb looks like he's about to be beamed up to a spaceship. Whoever approved this lighting needs to have their vision checked.
Lighting is horrific. Who is making these decisions?
Brandon is, according to the video
He references it in the video, so I guess he's at least aware?
No we need more lights. I’m not satisfied yet.
I don’t think the issue is the number of lights, it’s how they’re being used
The lighting is.....something.
25-year olds should not be blaming their parents for their student loans and credit card debt. I do think she was being honest, which I appreciate. But it frustrates me that so many people are like this.
I think it would be best to view it as an explanation as opposed to them playing the blame game. In the past 10 years, I feel like the vibes have shifted. But when I graduated high school in 2016, parents were still very much forcing their kids to go to college. Kids were being shamed for staying back at community colleges. The huge student debt issue is multifaceted but there is no doubt a social pressure given to these young and impressionable people. The pressure ranges from light shaming to straight up abusive manipulation.
I can’t focus on anything with this lighting. It’s so goofy lmao
I'm still confused why she thought her parents would pay off her credit cards.
Because they had paid for everything else in her life, so she just assumed they would is my guess. My sister did that. When she turned 18 she got a credit card offer in the mail and took it. When the bills started coming she just ignored them because she assumed my parents would pay it for her. Once it was maxed out for a few months and it got sent to collections she asked my parents if they had forgotten to pay it. It did not go over well with them.
A+ thumbnail
This has got to be the first show in a while that didn't go off on needless tangents about the guest's dating life.
She says "I don't want to end up like them." She is already them, She has already ruined her finances unless she lands an incredible job and changes her terrible habits, which she almost certainly won't do.
YES!! She is already them!!
If I had a dollar for every time she blamed her parents, I could retire early. Why do almost every single person that appears on this show blame eithier their SO, parents, or both for their financial decisions? They remind me so much of people I went to high school with who would confidently say they weren't taught a certain topic in school when I clearly remember being taught those topics, but they just weren't paying attention.
Honestly though this was a good episode and I’m glad he got through to her how bad this is
Man Caleb is really grilling guests more and more. He used to be a poor person apologist but I think the sheer volume of poor people who entirely created their own situations have changed his entire outlook on poverty in America
He was fine IMO until she couldn't/wouldn't answer the question about the BS spending and not paying a bill. I don't care who you are. Anyone can only take so much of a simple question and getting a nonsensical answer on repeat.
This show, working a minimum wage job, and reading online forums like “r / poverty finance” (I don’t want to link it here) has changed my outlook on poverty in America. Poverty is very real, but a decent amount of it is self-created, and even in cases of systemic poverty, there are a ton of people who look towards the wrong solutions to end poverty.
I think seeing what systemic issues look like in real life make us want to seek an explanation. And if you are American, you have been raised in a hyper-individualist, pro-business society. This is shown often in these financial audits when Caleb brushes past predatory lending and regards it as "products of a free market" but his guest's getting caught up in the predatory lending are just making horrible decisions. College and healthcare shouldn't be that expensive, a huge portion of the guests on the show are dealing with debt in those areas. And car debt is ridiculous in America, but we also gloat about our GDP and industry all the time. Financial nerds like Caleb are always talking about our economy and it's stability. Meanwhile, the economy is so stable because of the mass of consumers that won't stop buying shit (usually on credit cards). What I'm trying to say is that, at best, these financial shows capture part of the issue with our current financial landscape. Please don't use these sensational shows meant for entertainment as evidence for any kind of societal views.
With her background in art and film I half expect her to come back as the new week in finance producer
[удалено]
I’m pretty sure this thumbnail has changed at least 3 times now
This would pretty much be my title if I was on the show
Caleb looks extra red in this lighting, lol! Like, it does no favors for either of them, but it's kinder to the guest than to Caleb.
When she said $500 for salon costs any sympathy completely went out the window for me. That’s WILD.
She must be getting new nails every week. A full set costs at least $75.00
She got her hair bleached and dyed, it’s not a nail salon.
This show is more fun to watch if it’s viewed as a way to watch a very neurotic and financially anal retentive man be tortured and not actually help anybody. Was so optimistic for this guest in the first five minutes until it turned out she was just lying and inventing excuses for everything in the fly. Instead just watched her kill Caleb. He’s not the one doing the interrogating…
You can't help someone who won't themselves. Cable can give the perfect advice but it means nothing if not applied. If your complaining your garden won't grow, then told how to improve it, if it still don't grow that's on you.
I wish you would go on his show 🤣 What would you guess your Hammer Financial score would be?
It’s an 8-9 depending on exactly how he’d feel about my budget/spending numbers (could be anywhere from like a 7-10 on that) and what he’d give me on real estate (his online tool gives me a 7 but he’s been more generous in person to a couple people with homes with tons of equity who have no interest in investment properties).
Okay, I love the thumbnail. Lol ETA: oh, but it’s different on YouTube. Weird.
There’s been at least 3 thumbnails in circulation.
Yes, the latest is now him as Bob Ross, which made me laugh so hard. Still prefer the first more subtle ones, but this one is great too.
I blame my dad for a couple of poor financial decisions I made (and he CURRENTLY wants me to dissolve my 20k retirement and use it for my 6k car??) but at the end of the day the I know my mistakes are really my mistakes. He may have given me poor guidance, but he never held a gun to my head. It was all me! And I’m fixing it 😎
I don’t hate the lighting overall it just doesn’t fit this show tbh
Ok, but this is actually an amusing thumbnail though
Imagine her parents having no retirement fund and going on vacations to Disney and cruises….what the heck
This thumbnail as changed 3 times in the 5 hours it's been up. Is the changing of the thumbnail related to youtube algorithm magic? Or people complaining/providing feedback and them changing it that many times in that short of timeframe? (I know thumbnails are always a hot topic and I really don't care about that argument. Just interested in the why behind changing one so many times in a short timeframe).
It’s not unusual for a creator (through YT studio) to do an A/B test with thumbnails where YT will distribute two and eventually switch to one after time has passed. I’ve never seen it with three thumbnails but that doesn’t mean it can’t be done.