I Asked Hollywood How Much Debt It Has

Summary

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Podcast Summary: "I Asked Hollywood How Much Debt It Has"

Podcast: George Kamel (Ramsey Network)
Episode: I Asked Hollywood How Much Debt It Has
Date: May 25, 2026
Host: George Kamel
Special Guests/Co-Hosts: Dave Ramsey

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Episode Overview

In this on-the-street episode, George Kamel and Dave Ramsey take to the Hollywood Walk of Fame, turning it into what they jokingly call the "walk of shame" as they candidly ask passersby: "How much debt are you in?" The episode mixes pop culture references, humor, and snark with real conversations about debt—ranging from credit cards to student loans and mortgages. It aims to expose the current climate of financial literacy (or the lack thereof), destigmatize open discussion about money, and provide practical advice for listeners to avoid common debt traps and improve their financial futures.

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Key Discussion Points & Insights

1. Debt Confessions from Every Walk of Life

George and Dave interview a cross-section of tourists and locals from diverse backgrounds—teens, recent graduates, international visitors, and working professionals—about their debt situations.

A Teenager with Credit Card Debt

• Debt Details:
  • Total Debt: ~$25,000 (≈$15,000 credit card debt + $10,000 miscellaneous including medical bills) [00:35-01:24]
  • No car loans or student loans (got a scholarship) [00:53]
• Financial Plan:
  • Working multiple jobs (laundromat, events, painting houses, children's birthday parties) to make monthly payments [01:33-01:58]
• Quote:
  • "Spider-Man gotta eat, too, so he's gotta work. I gotta work.” (Teenager) [01:39]
• Financial Goal:
  • Wants to learn financial literacy; open to using a budgeting app (EveryDollar) gifted by George [02:09-02:46]
• Notable Moment:
  • Dave, George, and the teen riff about bar mitzvahs, quinceañeras, and "chupacabras" with signature snark [01:57-02:02]

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2. International Comparisons: UK Debt Culture vs. US

Dale from the UK

• Debt Details:
  • Mortgage: ~£100,000
  • Credit card debt: ~£1,000 (incurred during the trip) [02:54-03:04]
  • Used and largely depleted savings for the trip [03:14-03:16]
• Attitude:
  • "Future Dale can worry about that." [03:31]
• Insights:
  • Confirms student loans and consumer debt exist in the UK, but not to the same extreme as the US [03:40-04:06]
• Quote:
  • "They are desperately trying to get onto the debt train as well, but we're withholding a little bit." (Dale) [04:06]

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3. Young Adult Financial Journeys

Ivan (Student/Balanced Borrower)

• Debt Details:
  • Student loans: $1,000–$2,000
  • Minimal credit card debt (a couple of hundred dollars) [04:20-05:18]
• Strategy:
  • Uses grants, savings, and part-time work to manage debt
  • Parents instilled financial responsibility [04:32-05:24]
• Quote:
  • “Debt is something that unfortunately comes with life, but still it’s something that...can generally be...avoided, if you know how to do it.” (Ivan) [05:24]
• Financial Goals:
  • Top goal is becoming debt-free [06:17]
• Motivation:
  • George says he’s been debt-free for over a decade:
    • "I closed [my credit card accounts] and never looked back...If I don’t have it, I don’t get it.” (George) [06:41-07:01]
  • Suggests Ivan try going debt-free for two months and cut up the credit cards [07:17-07:29]

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Co-signer & Debt Accumulator

• Debt Details:
  • $23,000 car loan (Jeep Compass, co-signed, 5-year remaining term at 6% interest, $550/month)
  • $14,000 student loan [08:01-08:12]
• Notable Moment:
  • Admits he needed a co-signer due to bad credit [09:04-09:16]
  • Humor: “I already co-signed enough. One too many times.” [08:54]
• Financial Literacy Gap:
  • The co-signer and friend cannot articulate all their debts and need to “pull their credit reports.” [09:39-09:42]

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Student Loan Borrower with Little Awareness

• Debt Details:
  • Student loan: "Between £20,000 and £30,000, I think" [11:11]
• Awareness:
  • No idea of exact amount, repayment program, or how it works
  • “Just hope that I get to the point where it gets cleared, to be honest.” [12:26]
• Payment:
  • Monthly payment is quite low (£<100, income-based repayment) [11:31]
• Financial Goals:
  • Vague desire to be ‘financially free’ but no clear plan [12:44]

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4. Debt-Free Strategies and Success Stories

Flight Attendant with No Debt

• Strategy:
  • Lives at home, pays cash, studied for cabin crew
  • Uses savings, only uses a credit card to improve credit score to qualify for mortgage [11:57, 13:55-14:01]
• Future Goal:
  • “Buying a house one day. Moving out of mom and Dad's house.” [14:01-14:06]
• Quote:
  • “I only use [a credit card] so I can get a better mortgage on a house.” [13:55]

Recent Debt-Free Graduate

• Debt Journey:
  • Paid off ~$19,000 in student loans recently
  • No car payment, no credit card debt [14:34-14:56]
• Life after Debt:
  • Describes “way more confident”
  • “I feel like I wasn’t able to plan out financially...all the debt...kind of like held me back.” [15:01]
  • Now uses former payment amount ($573/mo) to reinvest in his business [16:11]
• Current Savings:
  • Business: $132,000
  • Personal: $72,000 [16:37]

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Notable Quotes & Memorable Moments

• On Realizing You Don't Need Debt (George, 06:41)

  • “I haven’t had [a credit card] open since 2013. I closed them, never looked back. I can just use my own money, and if I don’t have it, I don’t get it.”

• On Hope as a (Flawed) Repayment Strategy (Student Loan Debtor, 12:26)

  • “Just hope that I get to the point where it gets cleared, to be honest.”
  • George’s retort: “So hope is your strategy?” [12:29]

• On Living in the Moment (Dale from UK, 03:31)

  • “Future Dale can worry about that.”

• On Parents' Influence (Ivan, 05:24):

  • “My parents…taught me to be generally responsible with how I spend.”

• On Facing the Reality of Debt (Recent Debt-Free Graduate, 15:01):

  • “It’s like I can actually spend my money freely…instead of paying a lender.”

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Timestamps for Key Segments

• [00:27-02:46] Teenager with credit card debt discusses origins, side hustles, and financial goals
• [02:54-04:06] Dale from the UK compares UK and US debt culture
• [04:20-07:29] Ivan shares mild debt story and commitment to becoming debt-free, with George’s encouragement
• [07:54-09:39] Co-signer details car and student loan debt, co-signing pitfalls
• [11:00-12:44] Student loan borrower in the UK expresses avoidance and cluelessness about debt; gives hope-based plan
• [11:57-14:12] Flight attendant and friend discuss being debt-free and using credit only for credit score
• [14:30-16:43] Recent graduate shares journey to debt freedom, financial confidence, and savings accumulation

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Takeaways & Themes

• Financial Literacy Gaps Are Widespread: Few interviewees knew their exact debt amounts or detailed repayment strategies.
• Side Hustles & Gig Economy: Multiple jobs are a go-to for many trying to pay off debt, especially among younger people.
• Parental Influence Matters: Those with less debt often cited their parents’ advice.
• Hope Is Not a Strategy: George pushes listeners to choose proactive planning (budgeting, saving, attacking debt) rather than wishful thinking. “Hope is your strategy?” sums up this point neatly [12:29].
• Life After Debt: Being debt-free was universally associated with increased confidence, options, and the freedom to take risks and plan ahead.
• Geo-cultural Insights: American and British attitudes toward debt are similar, but the US leads in overall indebtedness and normalization of credit.

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Conclusion

This episode delivers candid, sometimes humorous, and always insightful glimpses into the reality of personal debt. George Kamel and Dave Ramsey keep things lighthearted but drive home powerful lessons about proactive money management, the mental and practical benefits of being debt-free, and the need for greater financial literacy.

Next Episode Tease:
George hints that in the next episode, he’ll attempt to guess how much debt strangers carry—a new twist on the public money confessional.

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Transcript

[Dave Ramsey]

Today I'm in sunny California on the Hollywood Walk of Fame. And we might be turning it into the walk of shame. Because I'm asking people, how much debt are you in? And do you even have plans to pay it off? It's gonna get interesting. And before we get to it, shout out to Deleteme for sponsoring this channel and fun field trips like this. Let's get to it. Okay. I don't know anything about Spider Man's personal finances.

[George Hamill]

How much debt are you in?

[Teenager with Credit Card Debt]

Well, considering that, you know, I'm still a teenager, I really don't have debt, but my parents do.

[Dave Ramsey]

You know, let's say I unmasked you.

[George Hamill]

How much debt is that guy in?

[Teenager with Credit Card Debt]

25,000.

[George Hamill]

Okay. What kind of debt is that? Break it down.

[Teenager with Credit Card Debt]

Credit card bills. Some, like, uncharged, like unpaid, like miscellaneous stuff, like a medical bill from a doctor's visit.

[George Hamill]

Okay, some medical bills and credit cards. Yeah. What about any car loans or student loans?

[Teenager with Credit Card Debt]

No, I don't have a car and I got a scholarship for school.

[George Hamill]

Nice.

[Dave Ramsey]

That's fun. Okay, so how'd you get into all

[George Hamill]

the credit card debt? What happened?

[Teenager with Credit Card Debt]

Well, I was able to get my first credit card and I started spending, but then I was spending, but I wasn't paying my balances. So then I racked up a lot of debt, but now I'm paying it back.

[George Hamill]

Okay, how many cards is that across?

[Teenager with Credit Card Debt]

I want to say like three.

[Dave Ramsey]

Is it like 20 grand?

[George Hamill]

And what's the total balance for all the credit card debt?

[Teenager with Credit Card Debt]

About 15.

[Dave Ramsey]

15 in credit card debt? Okay.

[George Hamill]

Another 10 in miscellaneous.

[Dale from UK]

Yeah.

[George Hamill]

Yeah. Okay. What's your plan? To pay all the credit card deb

[Teenager with Credit Card Debt]

up some money and then pay the payment every month. Get another job so I can just pay it off.

[George Hamill]

Okay, so this is a side hustle for you? I mean, Spider Man's got a full time gig too. Or is this multiple side hustles?

[Teenager with Credit Card Debt]

Well, I spend most of my day trying to save the world, but, you know, Spider man gotta eat, too, so he's gotta eat. I gotta work.

[Recent Debt-Free Graduate]

I gotta.

[Teenager with Credit Card Debt]

I gotta.

[George Hamill]

What's the other job?

[Teenager with Credit Card Debt]

I work at a laundromat. I do events and sometimes I even paint people's houses.

[George Hamill]

No way. You do children's birthday parties sometimes, too?

[Teenager with Credit Card Debt]

I do that, too.

[George Hamill]

Bar mitzvahs.

[Teenager with Credit Card Debt]

I've never done a bar mitzvah before.

[Dave Ramsey]

Quinceanera.

[Teenager with Credit Card Debt]

I would like to do one of those.

[Dave Ramsey]

Chupacabra.

[Teenager with Credit Card Debt]

What the is that?

[Dave Ramsey]

Exactly. Nobody knows. We gotta get to the bottom of that. Wow. Okay, so what are your financial goals?

[George Hamill]

Currently.

[Teenager with Credit Card Debt]

You know what? I think I want to sit down with a financial planner.

[George Hamill]

Okay.

[Teenager with Credit Card Debt]

And really understand financial literacy.

[Dave Ramsey]

All right. I've got a parting gift for you.

[George Hamill]

So you talked about financial literacy. I'm going to gift you one year of our premium budgeting app. It's called EveryDollar.

[Dave Ramsey]

So you download the app, punch in the code, and this is going to allow you to take control of every

[George Hamill]

dollar you got coming in from hustling out here, working at the laundromat, doing all of that. And then you can make a plan for that money.

[Dave Ramsey]

You can track your transactions.

[George Hamill]

It'll give you personalized recommendations for what to do next with your money, how to create more margin to pay off the debt faster.

[Dave Ramsey]

So I hope you find it helpful.

[Teenager with Credit Card Debt]

I think I will. It sounds great. I can't wait to use it.

[George Hamill]

Least I can do for a guy saving the world.

[Teenager with Credit Card Debt]

Thank you, man. You saving the world, too? You saving people's finances? That's the most important thing in this economy.

[George Hamill]

Tell me, Dale, how much debt do you currently have?

[Dale from UK]

Well, I've got the mortgage, which is a biggie. So that's about 100k in UK pounds.

[George Hamill]

Okay.

[Dale from UK]

And then a couple of credit cards of about a grand, mostly because of visiting here.

[George Hamill]

Okay, so this trip cost you about a grand in debt?

[Dale from UK]

Yeah, give or take. Although I'll be able to pay off a lot of that when I get that.

[George Hamill]

That feels cheap for an entire trip.

[Dale from UK]

Yeah, we had some savings as well.

[George Hamill]

Okay, so did you deplete all of the savings?

[Dale from UK]

Pretty much, I guess, yeah. Like, probably about a grand again. Yeah.

[George Hamill]

Did that stress you out to wipe out the savings and then go into the credit card debt to be here?

[Dale from UK]

I wouldn't really call it stress. I'll just deal with it when I get home, though.

[George Hamill]

It's just a future Dale problem to have.

[Dale from UK]

Exactly. Yeah. Future Dale can worry about that.

[George Hamill]

What kind of credit card is this?

[Dale from UK]

Credit card. So I got Amex and Barclay card.

[George Hamill]

Okay. Those are big in the uk.

[Dale from UK]

Yeah, yeah, yeah, they're big.

[Dave Ramsey]

Okay.

[George Hamill]

Is debt as big in the UK as far as, like, people got car payments, credit card debt, student loans, all that?

[Dale from UK]

Yeah, I think we got similar stuff. I think some things, from what I understand, are bigger in the U.S. so, like, the student loan stuff is certainly bigger here. We have a lot of student debt in the UK and there is a bit of an issue with that at the moment, but compared to what I've seen on the US Universities, it's nothing. And we can pay it back over our Entire lives, basically.

[George Hamill]

So the UK is trying to copy us, but they're not doing it as good as we do it.

[Dale from UK]

They are desperately trying to get onto the debt train as well, but we're withholding a little bit.

[George Hamill]

Tables have turned since the revolution, huh?

[Dale from UK]

They have a little bit, yeah. You'll be coming back to us as well.

[George Hamill]

Who's in charge now? All right, well, tell me, how much debt do you currently have?

[Ivan]

It's mostly student loans, so probably about maybe a grand or two.

[George Hamill]

Oh, that's it.

[Ivan]

Yeah. Thanks. Surprisingly, I've been able to manage it relatively well.

[George Hamill]

Like avoided by cash flowing or what?

[Ivan]

Oh, yeah, kind of like that. So what I. What I usually like to do is I offset it by not only my savings, but also investing a little bit and using the supplementary income that comes from the school. So whatever they like, whatever grants they give, I use that to help pay my bills, my cards, and then also help to mitigate whatever interest comes up.

[George Hamill]

A lot of $10 words there. MITIG

[Dave Ramsey]

my guy. Okay, so you're saying you have the

[George Hamill]

savings to pay it off right now

[Ivan]

I have some savings. Not enough to like, obviously say, hey, it's all done, but enough to have a little bit of a backbone, a little cushion.

[George Hamill]

And no car payment? No credit card debt? None of that, thankfully.

[Ivan]

No car payment. I have a few credit card debts, but that's proportionately well managed, thankfully.

[George Hamill]

So how much? What's the balance? Total balances across the cards?

[Ivan]

Probably maybe a couple hundred.

[George Hamill]

So a couple hundred. Okay. Not thousands, Ivan.

[Ivan]

My parents that I, who I've learned from, have taught me to be genuinely responsible, generally responsible with how I spend, because debt is something that does unfortunately come with life, but still it's something that can generally be, I want to say avoided, if you know how to do it.

[Dave Ramsey]

Yeah. I mean, do you think if you just said, hey, I'm not.

[George Hamill]

I'm never going to go into debt,

[Dave Ramsey]

you could do it?

[Ivan]

Probably. But again, like, I think it's something that is very much so situational in the fact that some people have no choice but to do it because of the situation that they're in. For me personally, thankfully, I'm able to not have to worry as much. But I can also completely understand where people might not have that luxury of not having to completely focus on lessening their day.

[George Hamill]

What are your financial goals?

[Dave Ramsey]

Do you have any?

[Ivan]

Oh, yeah, I have quite a few.

[George Hamill]

Give me the top one right now that is looming on your mind.

[Ivan]

Becoming debt free, honestly. Hey, there you go. Listen. Hey, ain't that something.

[George Hamill]

You ran into the right guy. This is serendipitous.

[Ivan]

No.

[Dale from UK]

What?

[Co-signer Car Debt Holder]

There you go.

[Ivan]

Talking about $10 word. That's a $50 word right there, my boy.

[George Hamill]

That's the only kind I carry, my friend. Listen, I think you've become debt free and stay debt free. If you decide debt is off the table, it's not an option. Guess how many credit cards I have.

[Ivan]

You want an actual guess or a.

[George Hamill]

I want a real guess.

[Ivan]

Seven.

[George Hamill]

Zero.

[Ivan]

Whoa.

[Teenager with Credit Card Debt]

Seriously?

[George Hamill]

I haven't had one open since 2013. I closed them, never looked back.

[Co-signer Car Debt Holder]

No way.

[Ivan]

What made you close on it?

[George Hamill]

I was tired of playing the game, trying to get some points, carrying a balance, trying to play the game perfectly set before me. And I realized I don't need to do this.

[Ivan]

Yeah.

[George Hamill]

I can just use my own money, and if I don't have it, I don't get it.

[Recent Debt-Free Graduate]

Yeah.

[George Hamill]

So car loans, don't have it. Credit card debt, don't have it.

[Ivan]

Fair enough.

[George Hamill]

So I got no debt, and I just try to stay that way by deciding that's a value, that's an identity for me. I don't borrow money from people.

[Co-signer Car Debt Holder]

Yeah.

[Ivan]

Fair enough. You know what? I can understand that.

[George Hamill]

You want to give it a go?

[Co-signer Car Debt Holder]

Sure.

[Ivan]

Why not?

[Dave Ramsey]

All right.

[George Hamill]

I convinced you to become debt free. Then I give you two months. Knock out the student loans, knock out the credit cards, and I double dog dare you to cut them up and see how you spend differently using your own money.

[Ivan]

I got you. Listen, I'm gonna keep an eye out for you, my friend. Two months from now, we're gonna see what happens.

[George Hamill]

Hey, listen, we're gonna do a. Where are they now?

[Ivan]

You know what? Hey, listen. Front page cover. I got you.

[Dave Ramsey]

You can't flip. Come on.

[George Hamill]

I can't do that.

[Ivan]

Listen.

[George Hamill]

Can't end with that.

[Ivan]

Listen, some of us have some cool benefits, my friend.

[George Hamill]

I just hur.

[Ivan]

Hey, you're watching George Hamill's YouTube channel. Make sure to like and subscribe.

[George Hamill]

How much debt do you currently have?

[Co-signer Car Debt Holder]

Oh, man. If we're including school, along with credit

[George Hamill]

cards, car loans, I'd say about 30.

[Co-signer Car Debt Holder]

30,000.

[George Hamill]

30,000. Break that 30,000 down for us.

[Co-signer Car Debt Holder]

So that would be 23 in car and about 14 in school. So 30 plus.

[Teenager with Credit Card Debt]

Yeah.

[George Hamill]

37 now.

[Co-signer Car Debt Holder]

Yeah, there you go.

[George Hamill]

It's going up there. What kind of car is it?

[Co-signer Car Debt Holder]

I got a Jeep Compass. 20. 23.

[George Hamill]

Okay. So, pretty new Jeep compass. Did you buy new?

[Co-signer Car Debt Holder]

Yeah, pretty much. Yep.

[George Hamill]

Okay. How long is it left on the term to pay it off?

[Co-signer Car Debt Holder]

Man, I just made my first year.

[George Hamill]

One year down. Yeah, one year down. Five to go. What are we talking?

[Co-signer Car Debt Holder]

Five to go.

[George Hamill]

Okay. You know the interest rate on it?

[Co-signer Car Debt Holder]

I want to say maybe six.

[George Hamill]

What's the payment every month?

[Co-signer Car Debt Holder]

Man, we're looking at 550. Okay, 550 every month.

[George Hamill]

And are you.

[Dave Ramsey]

You got them beat.

[George Hamill]

How much debt do you have?

[Recent Debt-Free Graduate]

I didn't really calculate it right now,

[George Hamill]

but you know, okay, I got. What's the. Give me a ballpark, maybe 5K.

[Dave Ramsey]

5,000.

[George Hamill]

What kind of debt is the 5,000? You don't even know. We got to pull his credit report. Can you help him out?

[Co-signer Car Debt Holder]

I already co signed enough. One too many times.

[Dave Ramsey]

Did you for real co sign?

[George Hamill]

What'd you co sign off?

[Co-signer Car Debt Holder]

Well, pretty much we co sign on the car. So his debt's pretty much mostly my debt.

[George Hamill]

You co sign on his car, so technically you owe 23,000 as well. Hey, there it is right there, folks. But you're making the payment every month. He doesn't drive it. But you needed him to co sign because your credit was shot.

[Co-signer Car Debt Holder]

Yeah, you can say that.

[George Hamill]

That's usually why they require a co signer.

[Dale from UK]

Yes.

[George Hamill]

Is they don't think you're going to pay, right?

[Co-signer Car Debt Holder]

Well, I wouldn't go as far as saying that, but they probably feel like,

[George Hamill]

you know, it was risky business.

[Co-signer Car Debt Holder]

I don't know about risky business either, but more like I was trying to get the payments to be reasonable.

[Teenager with Credit Card Debt]

Yeah.

[Co-signer Car Debt Holder]

So I went and got a cosigner so the payments could be reasonable.

[Dave Ramsey]

All right.

[George Hamill]

He's not even sure what kind of debt he has, Right?

[Co-signer Car Debt Holder]

Yeah.

[George Hamill]

I think we both need to pull our credit reports.

[Ivan]

Yeah.

[Dave Ramsey]

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[George Hamill]

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[Dave Ramsey]

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[George Hamill]

Well, let's talk money. How much debt do you currently have?

[Student Loan Debtor]

Just my student loan.

[George Hamill]

Okay. What's left on that?

[Student Loan Debtor]

Oh, I don't want to know.

[Dave Ramsey]

Do you know?

[George Hamill]

But you don't even know.

[Dave Ramsey]

What's the ballpark? Is it £50,000 less?

[George Hamill]

20.

[Student Loan Debtor]

30, but between 20 and 30, I think.

[George Hamill]

Between 20 and 30, you think? How do you even find out? You have to like, log into the website?

[Student Loan Debtor]

Yeah, something like that.

[George Hamill]

You've never done that?

[Student Loan Debtor]

No.

[George Hamill]

Do you make the payments every month?

[Student Loan Debtor]

I've just started to, yeah.

[George Hamill]

Congratulations. What'd you study?

[Student Loan Debtor]

I did marketing.

[George Hamill]

Marketing, okay. What's the monthly payment?

[Student Loan Debtor]

Oh, like less than £100. It's not a lot less than £50.

[George Hamill]

Income driven repayment. How does that work? That feels real low.

[Student Loan Debtor]

Yeah. It's driven by your income.

[George Hamill]

So that means most of your payment is going to interest then. Yeah.

[Student Loan Debtor]

And I think after like a certain amount of years they like clear it. You don't have to pay it off.

[George Hamill]

Really? Is that you do anything, you don't even know, you're just.

[Recent Debt-Free Graduate]

I don't know.

[Student Loan Debtor]

I'm guessing.

[George Hamill]

To be honest, I'm getting stressed out. Okay. How about you? How much debt do you have?

[Flight Attendant with No Debt]

None.

[George Hamill]

No debt. That's. How'd you. How'd you accomplish that?

[Flight Attendant with No Debt]

I still live with my parents.

[George Hamill]

Okay.

[Flight Attendant with No Debt]

And yeah, just do the best job that I get paid to travel, so

[George Hamill]

a pretty good gig now. Did you go to like a flight attendant school?

[Flight Attendant with No Debt]

I studied cabin crew at college and then just applied as soon as I turned 18.

[George Hamill]

They call it cabin crew there.

[Flight Attendant with No Debt]

Yeah.

[George Hamill]

That's so much cooler than flight attendant.

[Flight Attendant with No Debt]

You're not allowed to call it flight attendant anymore?

[George Hamill]

I'm going to write that down. So you've got some debt, you're not even sure how much. You don't want to know. What's your plan to pay it off?

[Student Loan Debtor]

Just hope that I get to the point where it Gets cleared, to be honest.

[George Hamill]

So hope is your strategy?

[Student Loan Debtor]

Yeah, at this point.

[George Hamill]

Strong. It's strong. I don't even know. Is that a program in the UK where they clear the debt?

[Student Loan Debtor]

Yeah, yeah. It's like a government program. I don't really understand it, but okay.

[George Hamill]

You're like, as long as it gets paid, I don't care. So what are your financial goals at this point?

[Student Loan Debtor]

Goals?

[George Hamill]

You said that like you've never heard the word before. Do you have any goals? It's okay if you don't.

[Student Loan Debtor]

I don't know, like, financially free to be, like, just to be. I don't know, in a position where you can live, like, the life you want and not have to worry about money.

[George Hamill]

I guess that's a good goal. How do you pay for this trip?

[Student Loan Debtor]

Working.

[George Hamill]

Okay, so you paid cash for it, no credit card?

[Student Loan Debtor]

Yeah.

[George Hamill]

That's impressive.

[Student Loan Debtor]

Yeah.

[Flight Attendant with No Debt]

Just got into the savings.

[George Hamill]

You dipped into the savings? How much is left in savings now after this trip is over?

[Student Loan Debtor]

I don't want to know.

[George Hamill]

Is it a thousand pounds? More than 2,000?

[Student Loan Debtor]

Less than.

[George Hamill]

What am I on the Price is Right?

[Dave Ramsey]

Why do I have to guess? You know the number.

[George Hamill]

Nobody's shocked out there. If you said a number from 0 to 50,000, nobody would shock.

[Student Loan Debtor]

Yeah, true. I don't know. Hopefully about two grand, but who knows?

[George Hamill]

Do you need to check the balance? I feel like yeah, but I don't know. When's the last time you've opened your banking app?

[Student Loan Debtor]

Like, I don't know. This morning.

[George Hamill]

Oh, good.

[Student Loan Debtor]

Okay.

[George Hamill]

So you're. You're looking at it.

[Student Loan Debtor]

Yeah. It's not too bad.

[George Hamill]

Do you use a debit card or credit card?

[Student Loan Debtor]

A debit card.

[George Hamill]

Really? That's impressive. Do you even own a credit card?

[Student Loan Debtor]

No.

[Flight Attendant with No Debt]

I can't believe you don't.

[George Hamill]

That is impressive. Well, that's helped you avoid credit card debt at the very least, right?

[Student Loan Debtor]

Yeah, I guess so.

[George Hamill]

How about you?

[Flight Attendant with No Debt]

I have a credit card. Only for the sake of getting a mortgage. I don't. I only use it. Use it so I can get a better mortgage on a house.

[George Hamill]

Okay. And that's your goal, is buying a house one day?

[Flight Attendant with No Debt]

Yeah.

[George Hamill]

Moving out of mom and Dad's house?

[Flight Attendant with No Debt]

Yes.

[George Hamill]

Are they wanting you out? Are they happy to have you as long as you want?

[Flight Attendant with No Debt]

They want me there.

[George Hamill]

They'll be sad for you to leave.

[Flight Attendant with No Debt]

100%. Yeah.

[George Hamill]

What flavor ice cream are you eating? People want to know.

[Flight Attendant with No Debt]

It's Strawberry Swirl from Ben and Jerry's. It's really good.

[George Hamill]

You make it sound so much cooler.

[Dave Ramsey]

When I feel like I would like strawberry swirl.

[George Hamill]

You know, nobody strawberry swirl. You sound like you're from London. Let's talk shop. How much debt do you currently have? Zero.

[Dale from UK]

Nothing.

[Recent Debt-Free Graduate]

I have nothing.

[George Hamill]

That's impressive.

[Dale from UK]

It's pretty impressive.

[George Hamill]

How'd you accomplish that?

[Recent Debt-Free Graduate]

It was more or less recently. The debt that I had previously was student loans. I had like 19 grand. I paid that out all two months ago in full. So that was pretty cool.

[George Hamill]

Way to go. What was your degree in?

[Recent Debt-Free Graduate]

It was business administration, concentration of finance.

[Dave Ramsey]

Nice.

[George Hamill]

Okay. What school was this?

[Recent Debt-Free Graduate]

This is Salem State University up in Mass.

[George Hamill]

Okay.

[Dave Ramsey]

Represent now. You don't have a car payment?

[Recent Debt-Free Graduate]

No, I don't have car payment.

[George Hamill]

You don't have credit card debt?

[Recent Debt-Free Graduate]

No.

[George Hamill]

No. Student loan debt. What's life like on the other side now that you're dead free?

[Recent Debt-Free Graduate]

Way more confident, I'd say for sure. I feel like beforehand I would definitely, like I wasn't able to plan out financially ahead of time just because I feel like all the debt that kind of like held me back. Right. Whether it was credit cards, student loans, whatever the case may be. Car payments was a big one. After kind of getting rid of that. That was definitely like really freeing for the most part. I feel like it's like I can actually spend my money freely. Right. Versus kind of like sitting there and scared. And I. It's almost like scared money doesn't make any money.

[George Hamill]

Right.

[Recent Debt-Free Graduate]

So I think that's kind of the

[George Hamill]

biggest thing for me. So you can take some more meaningful, you know, educated risks for sure and do the things you really want to do instead of paying a lender for 100%. Now what kind of car is this?

[Recent Debt-Free Graduate]

It was a 2023 Honda Civic that I had.

[George Hamill]

And you still have it?

[Recent Debt-Free Graduate]

Yeah.

[George Hamill]

Nice.

[Dale from UK]

You're going to.

[George Hamill]

How long you going to drive that thing?

[Recent Debt-Free Graduate]

Until it's like deadbeat. Like I.

[George Hamill]

It might outlive you for.

[Recent Debt-Free Graduate]

No, for sure.

[George Hamill]

You'll probably upgrade before it's actually gone kaput.

[Recent Debt-Free Graduate]

Yeah, like I definitely. I. I would definitely say I'm a materialistic person to a certain extent. But at the same time, it has to be right time, right place. Like I'm not going to throw money into a huge car or whatever. Anything crazy just to say I have that car.

[Ivan]

Right.

[Recent Debt-Free Graduate]

Like, I'd rather have everything else built beforehand.

[George Hamill]

Way to go.

[Dave Ramsey]

So what was your car payment?

[George Hamill]

Do you remember?

[Recent Debt-Free Graduate]

It was 573 like 25 times.

[George Hamill]

Something crazy. Okay. What happened to that 573 once you paid off the car? Where is that going every month now?

[Recent Debt-Free Graduate]

Oh, that now. So, like, I run a business, right? So I definitely reinvest that back to my people, whether it's recruiting, whether it's a team, nights events like things like that.

[George Hamill]

That sounds way more fun than paying back a lender.

[Recent Debt-Free Graduate]

Yeah, for sure.

[Dave Ramsey]

That's awesome.

[George Hamill]

Okay, what are your financial goals now?

[Recent Debt-Free Graduate]

Definitely by end of summertime, like I would say by end of August, have $100,000 saved personally. Business wise, have grand saved personally. That would be pretty cool.

[George Hamill]

You're crushing it.

[Recent Debt-Free Graduate]

No, for sure.

[George Hamill]

How much you have in savings now?

[Recent Debt-Free Graduate]

Currently, business wise, I have 132,000. And personal, I have 72. So.

[Dave Ramsey]

Dude, you are inspiring. Everybody wants to be you right now. Well, we saw quite the spectrum today. People from all over the world in all kinds of financial journeys. And what was encouraging is to find people who have made it a value to say, I'm going to get out of debt and stay out of debt. I'm going to have savings in the bank. I'm going to build wealth for my future proactively instead of being reactive and just hoping you have the funds to pay for a trip like this. Hoping one day the government forgives your student loan debt. No, they're taking control. And action. That's what you got to do when it comes to money. So if you enjoyed this episode, you're going to love this next one where instead of asking people how much debt they have, I guessed how much debt they have and boy, oh boy, was I right or wrong. Click here to watch it next or use the link in the description.

[George Hamill]

Now, if you'll excuse me, I got

[Dave Ramsey]

to go find someone to talk to

[George Hamill]

to get my name on one of these stars.