A (0:05)

No one loves crunching the numbers quite as much as me. Well, except this guy. He might like it more, but let's be real, he's just a theater kid who found an audience that can't leave roasted. Either way, I'll be doing some grade A number crunching today by sharing 12 jaw dropping money stats. They'll make you laugh. They'll make you cry. They'll make you cringe. They'll make your jaw drop. A full on cacophony of emotions thanks to the state of personal finance in America. And as always, this video is brought to you by the letter G that the number nine and my friends at Delete Me. All right, let's get to stat number one. 53% of millennials have more debt than retirement savings. Think about that. They got $50,000 in debt and they don't have $50,000 to their name in their nest egg. And if you want a snapshot of how fundamentally broken America's money situation is, this is it. Over half of my millennial brethren and sister are using their income to pay for the past instead of building for the future. Their money's coming in and then leaving quicker than Bad Bunny's bushes once he finished the halftime show. Where did they go? Why are they in such a hurry? Listen, it was better than the football game. I think I could have done as good. You could have sacked me for two hours, roaster. I'm from Boston. I can say that. Don't come at me, Matt Damon. He's always coming after me. Listen, I think your 30s and 40s should be prime wealth building years. It's the time when compound growth should really start going to work. But instead, for most people, it's competing with car payments, credit cards, loans, leaving nothing left to invest. So what's the fix here? Well, simply put, all this consumer debt needs to take the walk of shame because it is the weakest link could buy. Moving on to stat number two. 33% of adults say it's acceptable to borrow money from a romantic partner to pay a bill and that number jumps to 55% for Gen Z. So the younger you are, apparently the more likely you are to, I guess, ask to be spotted 50 bucks from your lover. I'm just trying to picture what would have happened if I asked my now wife Whitney to borrow money while we were dating. My guess is that she would have stormed out of that TGI Fridays before the bruschetta chicken pasta even hit the table. But for real, borrowing money from someone you're dating will Quickly lead to resentment at best and financial risk at worst. I think it's a red flag for the relationship, truthfully, because if they're doing this now, what are they going to be doing once you're hitched to that wagon? They're just gonna be asking you for more money, which is gonna be awkward. Cause you're married, so it's awkward. And here's a comment that proves this. A huge wealth killer. I had to learn twice. I paid off a boyfriend's debt and paid another boyfriend's taxes when I was in my 20s. I paid off my own debt long after they were out of the picture. Gratefully, I finally learned and have been debt free for over 20 years. Thank you, Lord. In parentheses, I might add, not part of the sentence, but an addition to, if you will. Yeah, that is a hard lesson to learn. And that was 20 years ago. I think this is happening even more today where people are just sort of intermingling their finances when they shouldn't be. Because it's just sort of normalized socially to go, well, we're just gonna move in together, even though we're not married, and we're gonna sort of combine finances in a way and just sort of split everything. And if they need money, I'll let them borrow it. If I need money, maybe I'll borrow it. And it's just a very unhealthy, codependent financial situation that leaves you at risk because you don't know if there's real commitment on the table here until you're actually mar and then you got some real legal and financial protections. Bottom line, dating shouldn't be about stress and money fights. It's a time for awkward side hugs, Struggling to fill the silence and saying that's crazy to something that is not, in fact, crazy. And ladies, if he says that's crazy, he is gone. Say something more interesting or just leave the relationship. He's not the one. Stat number three. 36% of American workers say money stress regularly distracts them at work. That's a third. Guys, you ever try paying attention in a meeting while your brain is busy figuring out how you'll pay for your son's hobby horsing lessons? Just me. I know he's only six months old, but you gotta start early if he's gonna be a pro. Oh, okay. Prancing on a stick is so easy. Why don't you try it, Mom? I stand by the hobby. The hobby horsers. Is that what we call them? The hobby horsing community demands respect and also Ice cream. We want ice cream. After I'm gonna get roasted by the hobby horsers in the comments. But luckily they've never left their house. So what are they gonna do? They got a backyard set up. That's where they do the hobby horsing. Mom likes to keep them close. No one's very well for race. Back to the matter at hand. Debt turns your career into survival mode. Think about it. You're forced to stay in a role that you hate. You're trying to chase salary over, meaning you're saying yes to stuff that drains your soul just to pay the bills. You don't have options. And listen, the employers, the toxic ones, they, they love it. But when you're debt free with margin, you got options. You can take a lower paying job that you love. You can negotiate from strength with confidence. You got some walk away power when that toxic boss comes at you one more time. So there's one more reason to be debt free. You're going to be more focused at work, better your job, which probably leads to promotions and more income, which leads to more wealth. You see where I'm going with this? It's endless. It's like an MLM. It just keeps going. Moving on to stat number four. 47% of Americans don't have $1,000 in savings. 47%. Think about that. That's almost half. This explains why so many people feel like their life is one minor inconvenience away from chaos. Because it is. And you're gonna be stressed when a car repair, a medical bill, a short income gap can knock your whole life off track. And this is why having a starter emergency fund changes your life. $1,000 set aside to cover those ankle biter expenses before you do anything else. So if you don't have $1,000 to your name, this should be your only priority. And think about it. Chances are 1000 bucks is gonna slip through your fingers within your next couple of paychecks. So make it a priority. To put it, should this take 30 days or less, no matter what it takes, sell your plasma tv, sell plasma, whatever you got to do, it's all about plasma. Next up, focus on paying all of your consumer debt, everything but the mortgage. Then build a full emergency fund with three to six months of your typical expenses. If you do all that, it will create this amazing financial foundation with no payments and savings in the bank. And then you don't have to stress stat number five. The average monthly payment for a new car is now $748. Guys, that is insane. You cannot complain that you don't have margin if your car payment is $750. All right, this is America's favorite financial chokehold and second favorite overall chokehold. John Cena still takes the cake. And if you're wondering about used cars, well, they're not a whole lot better at $532 a month on average. All for what? Impressing someone at a stoplight? The heated seats, a storage unit for old Cheerios and McDonald's fries. It's not worth it. And if it's for reliability and safety that you had to get a new car, I call BS because guess what? In two years, that's a used car. So why not just buy a car that's 2, 3, 4, 5, 6, 7 years old? You'll be just fine. And it's not just costing you money in your budget. It's also a massive long term wealth killer. I'm going to use our free Ramsey investment calculator to see what's going on under the hood here. And I'm going to drop a link in the description if you want to follow along and use the calculator for yourself. So let's take that $748 car payment. That's how much I'm gonna contribute per month. And let's say I'm, you know, 30 year old. Okay. And we're gonna 65. So that is 35 years of car payments. Just over and over. I'm gonna trade it in, get a new fancy car in a few years with another 750 car payment if you're lucky. And here we go. I have $0 in investments, 30 to 65. Let's see how much that would be if I just invested that payment instead and drove used cars in cash and set money aside to upgrade over time. $2.8 million. That's what your payment's costing you. Now obviously you gotta have extra money to save up for the cash car. But if you do this over time, with a sinking fund, even putting 300 bucks away over time in a savings account, you could just upgrade in cash used cars all day long without going into debt, without paying interest and using the difference to build wealth. Cause let's say you save 300, which means it's not 748, but it's gonna go down to 448. You with me? You tracking the difference that you're saving? Still $1.7 million. Hope you like the new car. Point made. Bottom line, buy safe, reliable used cars. Do your research and do it with cash stat number six, 49% of Gen Z said planning for the future feels pointless. Now, this stat comes courtesy of a credit karma report on financial stress, which I think is ironic because credit karma's main goal is to get you into more debt, which leads to more. But thanks for the survey, guys. Appreciate it. That, FYI was sarcasm. Now, if this stat resonates with you, I get it. It doesn't mean that you're lazy, irresponsible, or checked out. It probably just means you're exhausted and maybe a little cynical that you're not gonna be able to accomplish your financial goals. You see, a lot of young adults, they grew up watching the goalposts move in real time. College got more expensive. Housing became impossible to reach. Incomes didn't keep up. But listen, opting out of future planning doesn't protect you from uncertainty. It just leaves you with fewer options when it inevitably show. So what do you do? Well, instead of wallowing and going, woe is me, let's just be a little better than we were yesterday. Let's save a little more, spend a little bit less. And over time, those habits will compound and you will have enough to accomplish your financial goals and save for the future. And remember, compound growth is gonna do the heavy lifting. You don't need to save up a million dollars to have a million dollars. You need to contribute, say 100,000 or 200,000 over a long period of time. In compound growth will carry you when there's no more footprints in the sand. That's when compound growth did the heavy lifting. Put that on a stitch pillow. Stat number 46% of U.S. adults say they don't even know a fair amount about personal finances. Well, I guess 46% of you don't watch my channel because if you did, you'd know so much amount. When money feels confusing, it is easy to put on a YOLO T shirt from TEMU and just stop paying attention altogether. But the good news here is that personal finance isn't complicated. You can learn pretty easily. You can spend less than you make. You can avoid consumer debt. You can save consistently, invest for the long term. You don't need to know everything. You don't need a finance degree. You don't need to get fancy. You just need an open mind and an open heart. And financial literacy is now free, thanks to channels like this. But it's not free for me. I gotta pay all these nice people. I mean, I don't pay them, but someone pays them all right. Editors, producers, hair and makeup, mostly hair and makeup. Which is why I would now like to shout out Boost Mobile, a sponsor of today's video. Switching to Boost is one of the easiest ways to free up margin in your budget, since you pay just 25 bucks a month forever on their unlimited plan. No ifs, no ands, no buts. And you're not sacrificing quality for that lower price either, since their network offers 99% nationwide coverage. Now, that's a stat I can get behind. And best of all, there's no contract, so you got nothing to lose. So head to boostmobile.com Ramsey today and unlock up to $600 in savings or over the big carriers. And that's based on average annual single line payment of AT&T, Verizon and T Mobile customers compared to 12 months on the Boost Mobile Unlimited plan as of January 2026. See website for full offer details. And even if I didn't have to say that disclaimer, I would have. It's that good. And before we get to the final five stats on our list, allow me to tell you about my friends at Deleteme, another sponsor of today's video. They help protect against spam techs and phishing scams by removing your personal info from hundreds of data broker sites, AKA the people who sell your phone number and email to those spammers and scammers. Signing up for Deleteme also helps protect against online scams. And with AI making scams much more common and believable these days, it's a big deal. Plus it's extra affordable thanks to a 20% discount when you go to joindeleteme.com George stat number 8 42% of people have stopped using a subscription service but forgot they were still paying for it. Been there, done that, got the trophy. Getting dinged every month by small, quiet, forgettable charges they never get questioned is a great way to make your money. I disappear. They'll edit it and post to make it look cool. The trick was too good. It was too simple. The audience hardly had time to see it. Leaks like those don't destroy your finances overnight, but they really add up over time. And this is why it's so important to track your transactions. Pay attention to your money. Now, the way I do this with these is by using an app called EveryDollar that pulls in all of my transactions and I can track it to the right categories. And if I see something, I say something. Stat number nine 50% of people who've used a Buy now, pay later plan have missed a payment now think about this. That's half that. Really? Got you. I love that. Just. She likes math puns. I guess they took the pay later part a little too seriously. Okay, buy now, Pay later does not remove the pain of spending. It just delays it. And based on the stat, it also triggers fees, interest, and credit damage for half of its customers. Let's take Klarna, for example, one of the biggest buy now, pay later companies out there. According to their website, missing a payment can trigger interest of up to 36%. Not even credit cards charge that much. And when you screw people worse than credit card companies, you're officially on my list of mortal enemies. Along with Mario Lopez, the emu from Liberty Mutual, and my video editors. What do they all have in common? They're my mortal enemies. Love you, video editors. But Mario Lopez, you know what you did? Stole my skincare routine. And now he doesn't age. Companies like Klarna affirm and afterpay, they make spending feel easy and consequences feel far away. So here's a better buy now, Pay now. If you can't afford in cash, you can't afford it at all. And that's not a diss. That's financial wisdom. Stat number 10. 21% of college students use their financial aid or student loans to fund gambling. This is insane, guys. And it's definitely the saddest stat on our list. And it gets worse when you consider that 67% of college students living on campus have dabbled in sports betting. And 10% of young men aged 18 to 30 are officially considered problem gamblers. And that's what happens when every other ad these days is for FanDuel, DraftKings, and BetMGM. So here's my take. Any ad that ends with an addiction support hotline is not a product that you should get involved with. And I don't care if it's socialized and it's fun and you're just having a good time with your buddies. It is a toxic habit that will only lead to financial demise. I said what I said. Moving on to stat number 11. The median age of first time homebuyers is now at an all time high of 40 years old. And while that sounds like bad news, you got to also think about this. Life expectancy is at an all time high. So we're just, you know, moving along with it. Which means you'll have plenty of time to appreciate the joys of homeownership. And hey, just because buying a home is way harder now than it was a decade ago, it's not impossible. I get messages all the time of people saying, dude, thank you for your help and advice. I bought my first home. Sometimes in cash. I've heard that. Or they put 10, 20, 30, 40% down because they worked their tails off and got realistic about the house they could afford. So how did these gen zers and millennials do it? Well, they did it by setting a goal, living on less than they made, saving the difference, increasing their income and giving themselves time. There's no rule that you have to become a homeowner by 25 or else it's never going to happen. It's okay if you buy your first home at 30, 35, 40, even 45. You do it on your own timeline, not when someone else says you should. And if you want more info on this, I created a free video series called how to buy a home you can actually afford. Thought that name was pretty good. And in it I cover a bunch of stuff like how much house you can afford, how to set and reach your home savings goal. What is a mortgage? What type of mortgage should you choose? How to get a mortgage without a credit score, real estate agents, house hunting, making the offer, what to expect on closing day, and so much more. And did I say it is free? 10 video lessons 45 minutes. Highly entertaining. I'll prove it right now. Honey, I'm home. Just kidding. I don't live here. It looks like whoever does isn't home. Oh well, finders keepers. Oh that's raisins. Are you not entertained? I promise. Though it does get helpful soon after that. So go check it out. I'll drop a link in the description to my free video series on home buying. You don't want to miss it. All you gotta do is enter your email and that's mine to keep. Finders keepers. And finally, stat number 12, 48% of US parents have given money or financial support to their adult children in the last 12 months. Guys, I don't know who to blame here. I think partially it's the parents fault for creating this monster who doesn't have any independence. And I get the times are tough, right? I'm not mad at you if you're like you know, 28 years old and you live with your parents because it's really hard to find housing or a job right now. I'm not mad at you, but the idea that your parents are just going to float you until you figure it out is a bad plan because it will make you too comfortable and it won't cause a fire to be lit under you where you go I got to go figure this out. I got to find a way to make money and make my own mark that will stunt your growth. Now it's easy for the stat to make you think of a 35 year old in his mom's basement playing Fortnite with the chapel Ron skin. It's a real thing and it's disgusting. But this trend I think is one of the most dangerous and not just for the dating prospects of these adult children. There are serious financial implications here and not enough people are talking about it and that's why I made this video breaking down this crisis. You can click here to watch it next or use the link in the description. That's it for today. Be sure to hit the like button on this video. If you enjoyed it, hit subscribe on the channel so you don't miss another video. Thanks for watching. We'll see you next time.