Debt in America Flat Broke and Borrowing

[debtcc]

good video

[anonymousQ45]

pathetic

[mirabilo]

Buying things you don't need with money you don't have to impress people you don't like.

[Txsray]

God blesses the thrifty.

[jeanqbxx]

I don't think they are a cheap family, I think they are a smart family. If you don't have the money, you don't buy it.

[BobFromFinance]

I love that my company transferred me to Texas. High salary, low tax, sending it all back to Canada. Thank you USA!

[scientifico]

I've started carrying a flask to the bar and ordering coke or seltzer with bitters. I drink so much cheaper now ans still get to socialize!!!

[oceansdoor]

I took some old used under pants to the salvation army without washing them for a month lol. Dium..the material was starting to rot from the stains and skid marks man. hahahahaha! I wonder how they reacted with this little box full of stinking, dirty under pants lol

[danksmokers]

All these people that max out credit are the trash of society and deserve a life of agony.

[Gioxtream]

That's a Latin wife.. I am very Proud of her and her husband. This is an honest American Family.Living withing their limits of spending. God bless you and your Family..

[ostapo111]

Money and Credit are illusionary concepts created to keep us in mental prison, Credit still matters though. Unfortunately I have had my battles, struggled for months trying to get my credit score to respectability. Worst time spent EVER.

I was tired with the battle, but my friend recommended a company that did all the leg work for him, and all they charged me was $40/year.

Give them a call if you got credit problems, They are AWESOME

888-338-3875

[tk291100]

2011/2013 the complete death of the US dollar? remember the dollar has NO VALUE except for exception.

[FreedomInAmerica]

The debt when George W. Bush took office was $5.727 Trillion when he left it was $10.627 Trillion. The total debt that George W accumulated in eight years of office is $4.9 Trillion The debt right now is $13.736 Trillion. In approximately 666 days in office, he has accumulated $3.066 Trillion. Using simple algebra you'll find by Dec 2011, Obama will have accumulated more debt in three years than George W. did in 8 years.

[spaceflightfan]

@FreedomInAmerica Nice to see someone with sense posting for once.

[GunsOfThePhoenix]

Death to ramped consumerism.

[rustyscrapper]

buy....furnature?

I furnished my entire aprtment with found items

tv - found

microwave - found, 5 years later stll works

couch - well...dontated

bed - pre arranged for pick up

tables, chairs, desk, dresser, all found

The only thing I bought was this computer.

[vengance89]

if you want to know the true scale of this crisis see this video

youtube.com/watch?v=ZEYUxOGPm-­0

[letnamsiew]

FUTURE ? GOP POLITICAL CHAOS ! THEN REVOLUTION ?

[mikeprodi]

aaaaaaaaaaaaaaaaaaaa

[eatdogshitforlunch]

@onecoolgreek you arrogant cunt better people than you have gone under ,,,all you need is a matter of a few situations to arise in your life and bang everything you have is gone ,,,i hope it never happens to you but if it does it may just make a better person of you ,,in fact i do hope it happens to you ,,you fucking prick

[MavinOfSavin]

@onecoolgreek You've got to have a little compassion for them. Usually overspending comes out of a desire to be accepted or as a result of simply being uneducated about managing personal finances.

[07braves]

@MavinOfSavin i disagree...i have seen so many people spending on credit cards...going to amusement parks...buying large amounts of clothes..and worst of all..FAST FOOD!...putting pizza , mcdonalds..on credit cards ..they are PIGS!...live like kings...fallong into debt is your fault..you live on the credit card...you will die by the credit card. You dont have the money..do without,.. until you can afford to buy what you want with CASH!

[avataz]

Buying meat on the last day of expiration?  Saving money is one thing, but don't risk your health

[javimadrid4]

@avataz they clearly said they never gotten sick before

[CrossTheLine1000]

@avataz yeah..stupid as hell

[timmy23apsb]

I am all for saving money but i think this family takes it to an extreme. We all only have one life so people should spend money on taking vacations, getting some great organic food at the local market, etc. instead of adhering to such a strict regiment. They will probably save up tons of money by the time they die, but what's the point if they can't enjoy it from time to time?

[tara3870]

The Economides family are my heroes...you can live without credit cards. I cut up all of my cards today! I want to buy a house, but can't afford it; and you know what, I can live with the fact that I may never buy a house or condo. The only thing keeping me out of debt is no job loss or sickness in the near future (knock on wood). Anything can happen. Just live below your means and hope for the best.

[timlin0607]

I'm an extremely thrifty/cheap guy. I don't buy extra clothings until I see a hole on my current ones. I have less than 10 pairs of underwears/socks. I only buy stuff with money I have in my wallet. I never use a credit card unless I absolutely have to (which happens about once a year). Unfortunately, I'm unable to save $ because my wife likes to buy useless crap.

[thincow12]

what a loser meiser, why doesn't he just get a better job freaking moron.

[goma3]

What? That family bought timeshares?!

Are they freaking serious?! As investments?

First rule of investing: know what you are getting

2nd Rule: Never invest if you DONT HAVE THE MONEY

[ladymerakina]

Great video --but a family of 7 living on less than 35k/year?

My guess is their mortgage is either paid up in full or the monthly payments are pretty low.

The video doesn't really explain how they do it.

For example, does the family pay for their own insurance? or is it through an employer.

What's their electric/water bills like? etc etc

[thincow12]

@ladymerakina thye stated that the house was paid off in the begining, please listen.

[flukes777]

Unlike that thrifty family, I do buy used underwear. Not only are they well broken in, some places (or people) are practically giving them away.

[TheMEK3]

Bravo to this family. They actually get it!

[aviomaster]

Thunderhouse --- I thought people in USA who think like you were not existent ...

Very nice comment ... DEBT is HELL .... nothing else .

My grandfather always said spend the money you have in your pocket .... Trust only that. But goverment and corporations messed this theory.

[MavinOfSavin]

@aviomaster Thanks for the encouraging comment. If only . . .

If only . . . the Government would understand.

If only . . . businesses would understand.

If only . . . families would understand.

If only . . . college students would understand.

If only . . . Banks would understand (and stop making it their business to make money off of lending money to everyone) . . . that debt rather than building a stronger economy and life, actually destroys our lifestyle.

If only.

[aviomaster]

This video is bullshit propaganda ....

35.000 $ on 4 people per year ...

12.000 housing at least

7000 $ food

2 car insurance 800 $

gasoline 2800 $ year

Electric . Gas , Phone , Real E Tax, Sewage , 600 $ Americas cheapest family buying Turkey and getting new fridge for more Turkey ,...

[cramsa]

I know people who save more than this... you wana see trifty? Go to the 3RD WORLD... they don't throw good things away, like furnature etc... in America, I see people trashing GOOD THINGS, but smart people will make use of it, better than buying even used, at lest it's free.

[goma3]

@aviomaster

There's still plenty of that $35k after your math, plus you probably got the food wrong. Most people don't realize that by cooking at home you feed a person on $1.5-$2 per main meal. With their "military" buying, they probably get it below $1, meaning something like $4500 food/year.

Plus do you think they drive brand new cars? My car is 12 years old, minimum insurance = $110/6 months. Plus with well managed utility, you can get gas+elec for less than $100/month

[BringbackLKandMX]

@gotohell11 Suicide to even make war with the 2 red armires that will just make them MORE bankrupt.

[aviomaster]

--- I am watching this ,,, and IF this is the cheapest family ...

I would like to see the richest family ...

These guys seem to be Richest American family ...

[HQVideosbutnotmyown]

coupons are made to make spend not save.

[RedSkullthagreat]

This is America at it's "Finest". Capitalism does NOT work, as the nature of man is to compete and horde, and not share and eventually end up in conflict. You have to force people to share, or quite simply, they won't. Even if it ends up killing them.

[kane1559]

and that won't end up in conflict? You have to force people to share? North Korea, Cuba, and the former USSR are great examples of what you espouse.

[RedSkullthagreat]

@kane1559 yeah,,please think about what you say b4 you type it..they are ALL doing better than we are. Where they go wrong is when they adopt OUR ideology. Then their country falls apart. Conflict will happen regardless,but the NUMBER of conflicts will be a HUGE difference. More than likely less than half.

[kane1559]

@RedSkullthagreat North Korea is the most miserable country on earth. WTF are you talking about.

And yes, i support the freedom to be greedy, excessive, and gluttonous.

[RedSkullthagreat]

@kane1559 Im talking about as far as National debt is concerned. Financially man! Ok ,so you support the very same attitude that got us in this meess we are in?

[kane1559]

@RedSkullthagreat i believe you should be free to embrace any attitude you want. As long as it doesn't infringe on others and take fully responsibility. 

Freedom is much better than tyranny.

[RedSkullthagreat]

@kane1559 that dont really answer the question,but what ever. THe financial crap hole we are in,infringes like crazy on "others".. So yeah, tht's why I tell all the greedy ppl, this is YOUR mess, you made it,take responsibility.

[kane1559]

@RedSkullthagreat  I think you have zero comprehension of what has transpired. Government intervention (the ultimate force of infringement) is as culpable if not the most culpable in this whole mess. There is nothing you can say to convince me other wise. I suggest you pack up and move to North Korea. I also hear Iran is lovely this time of year.

[RedSkullthagreat]

@kane1559 I KNOW that you dont know shit about what I know. Only what I tell you. Your arrogance is the type of behavior that screwed wall street up. So if you were a Eron employee, Ii wonder would yo STILL have this pov? So the bush admin,in NOT an example of what you are talking about? Deregulation is NOT the cause of this mess?

[TheMEK3]

@RedSkullthagreat I 100% agree with Kane

[RedSkullthagreat]

@TheMEK3 Really? Well both of you idiots can go hand in hand and clean up the oil in the gulf. Then see after 24 hrs of "deregulated" oil clean up,if you still agree.

[TheMEK3]

@RedSkullthagreat First off, this has nothing to do with oil. The fact of the matter is this family is not in DEBT like most ppl who did it to themselves. So I don't know why u r insulting me and kane. I think that ur in debt and just want to beat around the bush. You sound like Glenn Beck with no purpose in your statements. Whos side are u on?

[RedSkullthagreat]

@TheMEK3 It has EVERYTHING to do with the general attitude of the majority in this country. It seems as though patriotism and gluttony go hand in hand as well as greed and selfishness. These are "ALL-American" qualities,that the majority of Americans "claim" they DON'T possess. I guarantee you this family did it to themselves but THINK they didn't. So called "standards" play a HUGE role in this. But most dont see it as a problem at all.Hence the boat we now ride in.

[TheMEK3]

@RedSkullthagreat U make absolutely no sense whatsoever.  Deal with the fact that you are in debt and that everyday u wake up knowing the fact that you are a slave to whomever you owe money to. Obviously Kane and I are free in this world along with this family. No offense to others but I sit back and laugh at ppl like you continue to put false courage in their heads thinking that someday it'll get better. Well its not. It looks like ur the idiot that can't manage his money.

[RedSkullthagreat]

@TheMEK3 Really? Is that it? That's what your going with..OK whatever.I could care less what you think I am and where you think I am in life. You will chose what makes sense to you at your convenience.I am no longer interested in your comprehension level.Good luck! o_O

[TheMEK3]

@RedSkullthagreat Same to you.

[RedSkullthagreat]

@TheMEK3 "So I don't know why u r insulting me and kane."

BC you said you "agree with Kane 100%" and that makes you a idiot. Bc Kane is a idiot,and if you agree w/ a idiot then...

[RedSkullthagreat]

@kane1559 so you support greed ,excess, gluttony?

[marym499]

read dave ramsey's money makeover and start by putting yourself on a budget, put the money in envelopes, for example grocery money in an envelope, clothes money in an envelope and if you run out of money, you can't spend it and start paying off the cheapest bill first.

[vinnythejinny]

we americans are totally broke these days. i have over $30000 in debt and recovering from it with the help of creditaswers. those guys are great you can call them 866-944-3201

[aviomaster]

USA is on the way to bankruptcy ,,,

I do not think they will go completely bankrupt ,

First they will attack China and Russia with their army ,

[henkway]

best is not eat meat. meat polutes the world

and sell the big fridge, canned food tastes goodalso

[fifthavenuegirl]

their name is not really economomedis is it???

[ilovety65]

me too!i don;t fit here and living in belize was so much better!i go into culture shock every time i enter the us after being in a 3rd world country.we take so much for granted....

[modernlifechews]

I think I may be stingier than this family. I think even 20 cents is too much for a pack of Ramen noodles.

[xgalba00]

I don't think loading fridge with cheap turkies is the best solution. Meat is much more expensive then beans for example. Eating meat every day is not needed.

[Thunderhouse2]

We need to realise what is truely important. Self-devellopement and happiness.

I pray every day that a big depression takes place and that the people will take back the power from the corporations and political elites that rule our society and enslave us!

Money and accumulation of stuff just to get valued by a society that bases your own value of the things you possess. It's sick!

We need to fight that logic of never ending consumerism by being self-sufficient and independant.

[cowboycarl04]

it amazes me... if anyone is "saving" money... I would suggest gold, silver, the euro, oil... things that have value... our US dollar has no value to turn in since 1933... it's paper and not a substitute for gold...

[GoldisSound]

The problem is not what is money its who controls it. Lincolns "Greenbacks" Worked for a long time in the american colonies. They were issued without interest and were debt free. But they were just paper. Our money today is given by Private banks and they charge interest. That is the problem.

Gold though is a good investment, it preserves your wealth against inflation.

[polygamous1]

Lincon was murdered cause of his greenback JBK was murdered after he said he was going to dismantle the FED RES if u really want to know see THE MONEY MASTERS another excellent video THE EMPIRE OF THE CITY on loveforlife web page its NOT the american people to blame is the financial institutions n the bankers to blame the scam of the earth filthy rich n still want what little people have

[imperialcrypt]

I've already watched Money Masters and Money as Debt and Empire of the city. I already know about bankers.

[kmcl11]

If they can take care of 5 kids, then a family with 2 kids should have less of a problem, providing they make smart choices for food and clothes. Most women today dont have 5 kids.

[Jibbie49]

I have 5 children, ages 33, 24, 20, 19, and 17. We've been able to have them, because I was always frugal. They will all have a college education, too. The oldest has an MBA and the second one is applying to medical school now after getting a degree in Biomedical Engineering.

[eandatoo]

I follow the same philosophy as the "cheap family" - if you don't have the money, you don't need it. No one should be shamed into buying shiny toys just to keep up with the Joneses. People are so conditioned by this culture of gross consumerism. It's making us all fat and soft.

[dan020350]

the only ones who will not be broke are the ones in power. the ones who run the gov't will never be broke because they will demand absurd taxes and fines

[23JamesDaKing23]

I started FLAT BROKE, now im poppin rubber bands

[Mechman064]

I'm debit free except 43k on my condo. About 10 years ago I realized I just can't afford to go through the whole, wife, house, kids, divorce, loss of home, financial and emotional destruction routine that most guys endure. I love the peaceful sensible life that only living single can bring.

[stonerj0e]

debit free?

[Mechman064]

Ya, Lol. Apparently it's easier to be become debt free than it is to spell it. My bad : )

[moonrice555]

Good for you! I'm not knocking marriage here, but do you realize how many guys out there do the wife and kid thing because society SAYS you are supposed to? What about what YOU want? It's so crazy, we are so obsessed with what others think about us over here, to the point of sacrificing our own happiness.

[o22266]

Basically its Americas "Gotta have it now" " I work hard, I deserve it " mentality that justifies the debt... Be sure to keep up with the Joneses!

[moonrice555]

We ARE keeping up with the Jonses. The Joneses are up to their ass in debt and so are most of us.

[cramsa]

When you think about it, their "net worth" is NEGATIVE... it's not even that they have no wealth, but they HAVE LESS THAN NO WEALTH.

[hisjedi]

I thought we were the cheapest family in America...these guys beat us hands down. When you save you can give to the poor...when you visit 3rd World countries you see American have way too much stuff...I think the Economides are inspirational.

[blackberryjuice1]

buying all that processed food crap, yeah might be a little cheaper with coupons but their doctors bills will catch up with them. Buy organic produce, it may be more expensive in the short term but what is your health worth??? Some things you really shouldn't be cheap with. Support local organic farmers!

[hisjedi]

We grow our own organic food and buy organic meat. We're healthy.

[adeart72]

i agree...invest in your health more than movies, expensive clothes and appliances...

[ilovehollycombs]

If america doesnt get out of its TRILLIONS of dollars of debt..in roughly 10-20 years there will a price to pay.

did u know china holds over 1.5 trillions dollars of american money? lol wow I wonder what'd happen if they ever sell it..

american government will fall so hard in the coming years they wont know what hit em

[WillBackbone]

Timeshares are terribe investements. How mant times after someone buys one do they try to pitch it to someone else. You have to wonder if they are tring to sell U on it or trying to keep convincing themselves it was a good idea, its not. Vacations are much more fun if you pay cash and stay out of debt U can do a lot more if u have no debt.

[siszam]

We live very frugally. People ask how we do it and when I tell them ways to save they get offended at the idea of cutting back. It's really sad how spoiled and clueless people are with money. I hate to think of what they would do if we had another Depression.

[adeart72]

What do you do to live frugally? I could use the advice...

[tonjg]

same as the golden rule outlined in the video. If you haven't got the money for it, don't buy it. So simple.

[moonrice555]

Yeah, but you know I think it's deeper than that. I think that, once we realize that having all that "crap" won't make us happy anyway, then we won't feel the pressure to buy it.

[moonrice555]

People these days could NOT live through a Depression. We're too addicted to our shiny toys.

[1523119]

this is what im talkin about... there are so many people in this problem. More so than the Economides.

[SRKJRPK0305]

I'm already taking some of their tips and am saving over $1200 a year on my medication by buying it through our insurance company's pharmacy website instead of at Walmart. Walmart cost? $117 / month. Insurance company's pharmacy? $35 / 3 month supply. All it took was about 3 hours research. At a $1200 savings, those 3 hours were well invested.

[blackberryjuice1]

spend a little more on organic produce and eat a plant-based diet, and you could send those drug bills down to $0/month.

[ssabmudon]

Makes me want to go charge something -- now!

[GreenGestalt]

The Prophet Mohammed said; "If you want to live more freely, borrow less." Could it be the "War on Terror" in no small part is because that Islam is the last "Book" religion where the "Anti-Usury" themes haven't been marginalized to oblivion.

[jamie6754]

americas Debt $48 Trillion

[ariakokoschka]

How much they paid for those walkie-talkies.

[stemikger]

Ice cream for Christmas. Now that's living.

[Supadave7]

That's funny. I remember seeing this when they aired it on ABC.

[CodeBlue7]

time shares are a big scam!!!

[CherryStreetTheater]

Gee no frozen pizzas in the grocery cart. Those pizzas will reassemble in your gut and make ur waistline bloat. The "ACF" probably don't eat slabs-o-meat either (lol). And why would any scandi-descendant, the Peterson's, get involved in a debt-laden life-style.