It’s no secret that social media can be a source of envy and comparison, with people presenting their seemingly perfect lives to the world. But a recent TikTok video by Dave Ramsey with a couple almost in a $1 million debt brought a refreshing dose of reality to the platform. In the clip, the 29-year-old woman opens up to financial mentor Dave Ramsey about their massive debt – a staggering $760,000. The revelation shocked viewers, and here’s how the TikTok couple reached that debt.
The video garnered a lot of attention, with many viewers expressing their shock and empathy for the couple’s situation. The clip also sparked a larger conversation about the importance of financial literacy and the dangers of living beyond one’s means. Let’s take a look at the story of this TikTok couple and what Dave Ramsey had to say.
TikTok couple in debt
A viral clip featuring 29-year-old Channing’s call to Dave Ramsey’s radio show has resonated with millions worldwide, capturing a new and massive audience after Ramsey reposted it. The exchange took place a few years back, in 2018.
Channing’s candid confession about her and her husband’s financial struggles has brought the issue of debt to the forefront of our conversations. The 29-year-old from Washington D.C. shared that she and her partner owed on their mortgage, student loans, and credit cards. They both carry a heavy financial burden due to their advanced degrees, which she pointed out during their conversation.
- Moreover, Channing also mentioned that they are just three months married during the time of the call. At that time, the TikTok couple is “under a $1 million debt.” She asks Ramsey then, “We want to know how to get debt-free without filing for bankruptcy.”
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The viral video
In the video, Dave Ramsey asked Channing about the breakdown of the debts. He first asked how much the mortgage is, and she simply replied only $210,000. So that makes it $600,000 left, so Ramsey asked where is it?
- The guest answered that $335,000 went to their student loans. While the rest of the debt comprises credit card loans and student loans. But what took Ramsey off-guard is when he asked her age, and Channing answered 29 years old.
@daveramsey This couple is a million dollars in debt. #moneytok #broke #debt #debtpayoff #nomoney #studentloans #creditcarddebt
As they discussed their financial situation, he emphasized the magnitude of their debt, asking if it was a joint effort or if one of them had gone overboard. The guest revealed that her 32-year-old husband was responsible for most of their credit card loans, while she carried the majority of their student loan debt.
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Ramsey’s advice on the $1 million debt
Ramsey inquired about their household income, to which she disclosed it was around $230,000. He questioned if they both recognized how absurd their financial situation was, to which she confirmed they did. Ramsey applauded this acknowledgment.
The financial mentor delivered some harsh truths to the couple. He began by informing them they were scared and disgusted and should be. And that they were in the “early stages of being sick and tired of being sick and tired.”
- Dave Ramsey then advised them that they would need to adopt a mentality of not caring what others thought. “You’re gonna have to not care what anyone thinks, including each other, because you’re not gonna spend any money on anything ever for the next three years,” he advised.
Unfortunately, there were no updates about this TikTok couple on whether they managed to get out of debt or not. We hope for the best for them.
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