I Asked Music City How Much Debt They Have

Summary

Podcast Summary: “I Asked Music City How Much Debt They Have”

Podcast: George Kamel (Ramsey Network)
Episode Air Date: January 19, 2026

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Episode Overview

In this lively, street-interview-style episode, personal finance expert George Kamel hits the streets of Nashville, Tennessee (aka "Music City") to ask everyday people a probing question: “How much debt do you have?” The episode spotlights a broad range of financial stories — from those burdened by student loans and credit card bills, to individuals living completely debt-free. Through candid, often humorous and heartfelt conversations, George uncovers common mistakes, the psychology of debt, and practical advice for financial freedom.

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Key Discussion Points & Insights

1. Student Loan Struggles and Attitudes

• Jewelry Sales Consultant (00:22–02:33)

  • Carries $28,000 in student debt from double-majoring in political science and English, but now works in jewelry — her true passion.
  • Admits to having “no plan” for repayment, letting loans “flow” and relying on “faith that things will work out.”
  • Memorable Moment:
    • Interviewer: “So no plan is what I’m hearing.”
      Interviewee, laughing: “No plan.” (01:40)
  • Georges drives home the seriousness: “You can’t bankrupt on student loans, and even when you die, they’ll probably come after your family.” (02:23)

• Musician with Student Loans (04:39–06:25)

  • Owes about $32,000 in student loans for a music degree, admits: “100%, I could’ve been as successful or even more successful without going [to college].” (04:58)
  • Is passively repaying on a 10-year plan, but payments are mostly deferred due to current government policies.
  • Debt was consolidated for easier management, but without a proactive repayment strategy.

2. Credit Card & Consumer Debt

• Tennessee Resident (with a lawn mower loan) (02:48–04:19)
  • $200,000 in total debt (mostly mortgage), with $15,000 in consumer debt (credit cards, medical bills, a $2,000 lawn mower).
  • No clear plan for repayment, and not fully aware of interest rates (“24.5%” on credit cards, causing pain).
  • George introduces EveryDollar app as a solution and provokes hope: “What if by your next birthday you were debt free?” (04:03)

3. Debt-Free Lifestyles and Practical Lessons

• Debt-Free Nashville Musician (06:35–08:27)

  • Never went to college, avoids all debt, pays off credit card each month.
  • Drives a hand-me-down car, lives simply, full-time professional musician.
  • Advice: “Be ready to not be making money… have a savings. Just don’t spend on dumb things you don’t need.” (07:44)
  • Impressive savings for age and profession: “I’m at probably about 20 grand right now.” (08:12)

• International Perspectives

  • Oliver, UK Quantity Surveyor (08:34–10:31)

    • Zero debt; completed a “degree apprenticeship” paid for by employer (no student loans).
    • Credits debt aversion to upbringing and UK’s low-interest, government-financed loans: “No one has medical debt. Some people might have that on houses, but nothing else.” (10:20)

  • Young UK Mechanic / Boxer (10:56–13:06)

    • Zero debt; didn’t go to university, works as a mechanic and part-time boxer.
    • Emphasizes the benefits of trades: “People go to university, come out with high end degrees, but they got no jobs, no experience... They’re good on paper, but not in real life.” (11:38)
    • Notes the simplicity of his lifestyle: “I don’t need to impress anyone.” (11:59)

4. Married Couple from Miami

• Perspective on Housing Debt vs. Consumer Debt (13:11–15:40)
  • Owe about $800,000 — all mortgage, pay off credit cards monthly.
  • Emphasize that Miami’s cost of living puts many people in debt to maintain appearances.
  • Financial advice: “If you have a job or if you’re making any type of income, just put away as much as you can. Invest… just keep putting money in there.” (14:45)
  • Worst financial mistake: Getting scammed for $2,000 due to poor vetting.

5. Debt-Free Artists’ Strategies

• Struggling, Yet Motivated, Nashville Musician (16:19–17:29)
  • Proudly debt-free: “I don’t have a credit card. I don’t really buy anything that I don’t need.”
  • Living as a “starving artist” encouraged survival mode and strict budgeting.
  • Saving steadily: Around $5,000–$6,000 cash, says, “I had to figure that out. That’s why I’m trying to build it still.” (17:17)

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Notable Quotes & Memorable Moments

• On Avoidance vs. Attack:

  • "I’m kind of just letting it flow." – Jewelry Sales Consultant (00:59)
  • "So no plan is what I’m hearing." – Interviewer (01:40)
  • "I have faith that things will work out." – Jewelry Sales Consultant (02:06)

• On Student Loans:

  • "100%, yeah. I could’ve just not gone to college and been as successful or even more successful." – Musician (04:58)
  • "I consolidated [loans], but I haven’t really been paying into them that long, to be honest." – Musician (06:14)

• On Frugality and Simplicity:

  • "If you don't have money, don't buy it." – Debt-free Musician (08:09)
  • "You gotta be ready to not be making money... have a savings if you can." – Debt-free Musician (07:44)
  • "I don’t drive a flash car… I don’t need to impress anyone. I just..." – Mechanic/Boxer (11:59)

• International Perspective:

  • "In the UK... nobody has medical debt." – Oliver, UK Quantity Surveyor (10:20)
  • "We invented it!" – Oliver on UK construction (09:22)

• On Advice:

  • "Just keep putting money in there. But don't forget about it.” – Married Couple Spokesperson (14:55)
  • "Debt doesn’t have to be normal. I talked to lots of people today who said, no, I don’t have any debt. I just live on less than I make. I live below my means." – George Kamel (18:27)

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Timestamps for Key Segments

• 00:05–02:33: Student loan debtor with no plan, jewelry career
• 02:48–04:19: Consumer debt breakdown (lawn mower and credit cards), no payment plan
• 04:39–06:25: Musician with student loans, consolidation, education value discussion
• 06:35–08:27: Debt-free musician: strategies, advice, $20k savings
• 08:34–10:31: UK Quantity Surveyor Oliver; employer-paid education, UK-US debt differences
• 10:56–13:06: Mechanic/boxer, no debt, the value of trades, contrasts with US debt norms
• 13:11–15:40: Miami married couple, housing debt, avoiding consumer debt, worst mistake (scam), advice
• 16:19–17:29: Debt-free artist, starving artist mindset, building savings
• 18:27 (and close): George’s takeaway: Debt doesn’t have to be normal; live below your means.

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Main Takeaways

• Debt is a spectrum: Some interviewees are overwhelmed by student loans and/or consumer debt with no plan, while others (often musicians or tradespeople) are living entirely debt-free.
• Planning matters: The difference between feeling “hopeless” and “hopeful” often comes down to having a concrete repayment strategy.
• Cultural and systemic differences: UK participants report less consumer and education debt, due to public policies and cultural norms.
• Frugality and living within means: Many of those debt-free did so via frugality, handiwork, or entering trades, not high income.
• Financial habits trump income: Avoiding “dumb purchases” and preparing for lean times is essential, especially for those with variable incomes.

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Final Note

George closes with a powerful reminder: debt isn’t inevitable. Living with intention, below your means, and with clear planning, can create margin, flexibility, and options in life. For those needing help, resources like the debt snowball or budgeting apps (“EveryDollar”) are highlighted as tangible first steps.

Transcript

[Interviewer]

I just learned that half of U.S. adults worry about their personal finances daily. And it got me wondering, does debt have anything to do with it? So today I'm on the streets of Nashville, Tennessee, to ask everyone's favorite dinner party question. How much debt do you have? Let's do this. How much debt do you currently have?

[Student Loan Debtor / Jewelry Sales Consultant]

28,000.

[Interviewer]

That's very specific. Okay, what kind of Debt is the 28,000?

[Student Loan Debtor / Jewelry Sales Consultant]

It's 10 student loans.

[Interviewer]

All student loans. What was your degree?

[Student Loan Debtor / Jewelry Sales Consultant]

I double majored in political science and English.

[Interviewer]

Okay, Are you working in those fields right now?

[Student Loan Debtor / Jewelry Sales Consultant]

No.

[Interviewer]

Why is that?

[Student Loan Debtor / Jewelry Sales Consultant]

I have a passion for jewelry.

[Interviewer]

How long has this passion existed?

[Student Loan Debtor / Jewelry Sales Consultant]

My whole life.

[Interviewer]

So you never had a passion for political science and English?

[Student Loan Debtor / Jewelry Sales Consultant]

Well, I did. I just, you know, I went away from it and then just ended up here. I don't know.

[Interviewer]

Okay, so you're trying to pay off the student loan debt right now or are you just kind of like, letting it flow?

[Student Loan Debtor / Jewelry Sales Consultant]

I'm kind of just letting it flow.

[Interviewer]

Do you have a job?

[Student Loan Debtor / Jewelry Sales Consultant]

I do.

[Interviewer]

Okay. Is it in jewelry?

[Student Loan Debtor / Jewelry Sales Consultant]

Yes.

[Interviewer]

What are you doing in jewelry?

[Student Loan Debtor / Jewelry Sales Consultant]

I'm a luxury sales consultant and the head of a repair department.

[Interviewer]

Luxury? I mean, isn't all jewelry luxury?

[Student Loan Debtor / Jewelry Sales Consultant]

In a sense, you would think so.

[Interviewer]

But your stuff is like, high, high end. Who's your clientele and what are they buying?

[Student Loan Debtor / Jewelry Sales Consultant]

Blue collar. They love engagement rings. I would say the fancy folk too, when they just want, like, something to wear for their dinner.

[Interviewer]

Okay. Like, we got a fancy party coming up. I want to get a new piece. Okay. How quickly will you pay off the 28,000 in student loans with your current.

[Student Loan Debtor / Jewelry Sales Consultant]

Plan, I'm kind of hoping I strike it rich.

[Interviewer]

So no plan is what I'm hearing.

[Student Loan Debtor / Jewelry Sales Consultant]

No plan.

[Interviewer]

Just. Are you making payments right now?

[Student Loan Debtor / Jewelry Sales Consultant]

No.

[Interviewer]

How are you getting away with that? Is it on, like, forbearance?

[Student Loan Debtor / Jewelry Sales Consultant]

I think so.

[Interviewer]

So it's still accruing interest every day?

[Student Loan Debtor / Jewelry Sales Consultant]

It would seem so.

[Interviewer]

Like, as we've been talking, the balance.

[Student Loan Debtor / Jewelry Sales Consultant]

Has gone up per chance.

[Interviewer]

You have no idea. Oh, my gosh. That's kind of frightening. You seem very nonchalant about it. Why is that?

[Student Loan Debtor / Jewelry Sales Consultant]

I have faith that things will work.

[Interviewer]

Out in that you'll marry rich.

[Student Loan Debtor / Jewelry Sales Consultant]

Is that the faith per chance?

[Interviewer]

Perfect. This is going really well. What would it take for me to convince you to pay off your student loans more aggressively so that you have.

[Student Loan Debtor / Jewelry Sales Consultant]

A better life scaring me into it, which you're kind of doing right now.

[Interviewer]

Oh, good. Okay. What if I told you that you can't bankrupt on student loans? And that even when you die, they'll probably come after your family.

[Student Loan Debtor / Jewelry Sales Consultant]

That would make me sad.

[Interviewer]

It's working. It's working. It's working. How much debt do you currently have? I have zero. Wow.

[Married Couple Spokesperson]

Zero.

[Interviewer]

That's amazing. And has this spread to the employees? How much debt do you have?

[Student Loan Debtor / Jewelry Sales Consultant]

About $200,000 worth of debt.

[Interviewer]

Come on now. Does that include a mortgage? Yes. Okay, take out the mortgage. Remove that from the equation. What's left?

[Student Loan Debtor / Jewelry Sales Consultant]

$15,000.

[Interviewer]

Okay, 15 grand. And what does the 15 grand make up of? It's credit card bills.

[Student Loan Debtor / Jewelry Sales Consultant]

Probably a medical bill. A lawnmower.

[Interviewer]

Okay, what did the lawnmower cost?

[Student Loan Debtor / Jewelry Sales Consultant]

About $2,000.

[Interviewer]

$2,000. So that's a nice lawnmower. It's a riding lawnmower. Zero turn.

[Student Loan Debtor / Jewelry Sales Consultant]

It's not.

[Interviewer]

But did you get hosed on this deal? What's the interest on the lawnmower? I couldn't tell you. She doesn't know. Oh, boy. What's the interest on the credit card? 24.5%. Ouch.

[Student Loan Debtor / Jewelry Sales Consultant]

It hurts.

[Interviewer]

So how much do you have in credit card debt?

[Student Loan Debtor / Jewelry Sales Consultant]

1500.

[Interviewer]

Okay, and then you. Because you said you had 15,000 in debt. I got 2000 on the mower, 1500 on credit cards. Where's the rest?

[Student Loan Debtor / Jewelry Sales Consultant]

So I'm trying to figure out.

[Interviewer]

This is a puzzle. We gotta help her. Figure out what? So you have no game plan to pay your debt off?

[Student Loan Debtor / Jewelry Sales Consultant]

I do not.

[Interviewer]

Would you like a game plan? Yeah.

[Student Loan Debtor / Jewelry Sales Consultant]

Let's hear it.

[Interviewer]

This is called EveryDollar. This is an app that's gonna give you a plan and give you some hope that you're not gonna die with this debt. You're gonna get out. When's your next birthday?

[Student Loan Debtor / Jewelry Sales Consultant]

November.

[Interviewer]

Perfect. What if by your next birthday, you were debt free?

[Student Loan Debtor / Jewelry Sales Consultant]

It'd be a miracle.

[Interviewer]

That would take, what, a little over 1000 bucks a month at this point to get to get out of debt? Do you think you could find 1000 bucks a month to throw at your debt? If you really work hard to cut your expenses down and get the income.

[Student Loan Debtor / Jewelry Sales Consultant]

Up, I'm scraping by, buddy.

[Interviewer]

I don't know. This app's going to show you all the recommendations you need based on your situation to get you out of that debt. And I wish you the best. Thank you. Tip her well. If you're ever in Laurel, Indiana, at.

[Musician / Debt-Free Artist]

The Long Branch Tavern.

[Interviewer]

Long Branch Tavern.

[Musician / Debt-Free Artist]

You want to be where everybody knows your name.

[Interviewer]

How much debt do you currently have?

[Musician with Student Loans]

None, besides my student loans.

[Interviewer]

Okay. How much is left on the student loans?

[Musician with Student Loans]

About 32, give or take.

[Interviewer]

Okay, what was your degree in?

[Musician with Student Loans]

Music.

[Interviewer]

Okay. And you're actually using it, you're doing music?

[Musician with Student Loans]

Sort of.

[Interviewer]

Do you feel like you could have just not gone to college and been as successful or even more successful?

[Musician with Student Loans]

100%, yeah.

[Interviewer]

Because of music, you're like, well, I already knew how to play. What did you learn at school that you couldn't have just learned through experience?

[Musician with Student Loans]

I mean, just literally the scholastic side of it, the actual playing stuff you would just get from playing. But theory and stuff, you kind of have to pursue that. You have to want to learn that. Or like I did go to school for it.

[Interviewer]

Do you have a plan to pay it off early?

[Musician with Student Loans]

No, not right now.

[Interviewer]

So you're on like a 10 year plan or something?

[Musician with Student Loans]

Pretty much, yeah. Whatever my minimum payment is. I mean, everything's still. Because of the whole like court case that's going on with the government. Like all of them are on deferment basically through I think like 2028. So I don't even have to technically start paying until 2028.

[Interviewer]

And you're not, you don't have no plans on paying until then?

[Musician with Student Loans]

I am paying now. I'm basically paying what my minimum monthly would be to kind of outrun the interest. But I'm not really like actively.

[Interviewer]

Do you know the interest rates on these things?

[Musician with Student Loans]

It's like 5.7 or something.

[Interviewer]

Is it broken up into a bunch of little loans?

[Musician with Student Loans]

It's in one big one.

[Interviewer]

Oh, boy. Did you consolidate or something?

[Musician with Student Loans]

Yeah, I did. I had a bunch of. The small ones were all like $600 and the interest rate on those was like 3%. But then I had some for like 12 grand that the interest rate was like 14% on. So I'm like, this doesn't make any sense to me.

[Interviewer]

So now it's one. One big one to tackle through.

[Musician with Student Loans]

I don't know. I haven't really been paying into them that long, to be honest.

[Interviewer]

So how old are you today?

[Musician with Student Loans]

33.

[Interviewer]

33. So a 10 year plan by 43 maybe. Hopefully we'll have these paid off.

[Musician with Student Loans]

Yeah, that's kind of the game plan. We'll see where we get.

[Interviewer]

And that's why it's plan B. Plan A is much safer. Shannon, how much total debt do you have currently?

[Student Loan Debtor / Jewelry Sales Consultant]

None.

[Interviewer]

Zero?

[Mechanic / Boxer]

Yeah.

[Interviewer]

No debt payments at all?

[Student Loan Debtor / Jewelry Sales Consultant]

Not at all.

[Interviewer]

How'd you accomplish that?

[Student Loan Debtor / Jewelry Sales Consultant]

I didn't go to college and I pay off my credit card.

[Interviewer]

So you have a credit card, but you've never carried a balance? Not once?

[Student Loan Debtor / Jewelry Sales Consultant]

I just pay it off every month.

[Interviewer]

And what About a car. What are you driving?

[Student Loan Debtor / Jewelry Sales Consultant]

I have a car. It was passed down to me from my parents, which I am very lucky for.

[Interviewer]

So you got the hand me down car. What year is it?

[Student Loan Debtor / Jewelry Sales Consultant]

It's 2015.

[Interviewer]

Okay, that's still a great vehicle.

[Student Loan Debtor / Jewelry Sales Consultant]

Exactly.

[Interviewer]

And what about this? This guitar, this bass?

[Student Loan Debtor / Jewelry Sales Consultant]

Yeah, I bought this probably six or seven years ago when I started playing and it's been all over the country and it's. It's my workhorse, so. And I do music full time, so it's a write off too.

[Interviewer]

It's a write off. There we go. And you're full time bass player?

[Student Loan Debtor / Jewelry Sales Consultant]

Yep.

[Interviewer]

How's that going in Nashville?

[Student Loan Debtor / Jewelry Sales Consultant]

It's fantastic. I've been here about a year and a half and moved here. No gigs, no job, and just started coming down here meeting people and now I do this for a living.

[Interviewer]

You just like show up and find a gig?

[Student Loan Debtor / Jewelry Sales Consultant]

Yeah, pretty much.

[Interviewer]

That's impressive. So what would you tell people who are maybe musicians, artists? Not a consistent income. What would you tell them about finances and debt?

[Student Loan Debtor / Jewelry Sales Consultant]

I mean, it's a constant thing. I think the biggest thing for me is just be ready to not be making money. Like for example, now it's slow season down here, so I'm not gigging as much as I am in the summer. So it's just kind of being prepared to not have as much income. So have a savings if you can. And I'm just fairly smart as far as like just not spending my money on dumb things that I don't need.

[Interviewer]

You don't have money? Don't buy it.

[Student Loan Debtor / Jewelry Sales Consultant]

Exactly.

[Interviewer]

How much do you currently have in savings?

[Student Loan Debtor / Jewelry Sales Consultant]

Savings? I'm at probably about 20 grand right now. Which again, very lucky because I didn't go to college, so I don't have a ton of expenses in that realm and whatnot, so.

[Interviewer]

Yeah, well, I'm proud of you. Way to go. You're a beacon of hope in a world of broke musicians, so. Thank you.

[Student Loan Debtor / Jewelry Sales Consultant]

Thank you, man.

[Interviewer]

Playing the bass, right, is. Well, it's my life. All right, tell us your first name.

[Oliver (UK Quantity Surveyor)]

Oliver.

[Interviewer]

Oliver. Where you from?

[Oliver (UK Quantity Surveyor)]

United Kingdom.

[Interviewer]

Would you consider yourself a bloke?

[Oliver (UK Quantity Surveyor)]

I would consider myself a bloke, yeah. That's.

[Interviewer]

I don't know who gets that term.

[Oliver (UK Quantity Surveyor)]

Yeah, no, most blokes, but I think.

[Interviewer]

You have to be a bloke to call someone else a bloke.

[Oliver (UK Quantity Surveyor)]

Yeah, A lady probably wouldn't go around saying it, but yeah, yeah, we'll take.

[Interviewer]

That off the record. All right. Tell me, Oliver, how much debt do you currently have zero. No payments in the world.

[Oliver (UK Quantity Surveyor)]

Nothing. Nothing.

[Interviewer]

Is that like a UK thing or. Is not as big a deal there.

[Oliver (UK Quantity Surveyor)]

I went to, I did in the UK what's called a degree apprenticeship, which is basically like five years university. But your company pays for it. So it's all funded.

[Interviewer]

It's like company pays for it. What kind of company, what kind of work do you do?

[Oliver (UK Quantity Surveyor)]

Construction.

[Mechanic / Boxer]

Construction.

[Oliver (UK Quantity Surveyor)]

Construction and music.

[Interviewer]

I forgot they have construction over there. They gotta construct things still.

[Oliver (UK Quantity Surveyor)]

We invented it. We invented it.

[Interviewer]

Beautiful architecture over there.

[Oliver (UK Quantity Surveyor)]

Yeah.

[Interviewer]

Okay, so do you plan on going into debt or you like. I avoid debt at all costs.

[Oliver (UK Quantity Surveyor)]

No, no. Avoid debt at all costs.

[Interviewer]

Where did that mentality come from?

[Oliver (UK Quantity Surveyor)]

Parents, I suppose. Yeah, they didn't. To be fair, they weren't university educated either. So to be fair, university era in the UK is a lot cheaper than what it is here.

[Interviewer]

And the companies are paying for it.

[Oliver (UK Quantity Surveyor)]

Yeah, so it's like government schemes. It's called a degree apprenticeship. So it's like four or five years.

[Interviewer]

Go into the trades.

[Oliver (UK Quantity Surveyor)]

Well, I'm not actually in a trade. I do something called quantity surveying, which over here I think might be called. I mean, you guys have survey.

[Interviewer]

Survey, Yeah, I was. Yeah, we have that.

[Oliver (UK Quantity Surveyor)]

Chartered surveyors.

[Interviewer]

The guys with the little tripods in the side of the road. I always go, what is that job?

[Oliver (UK Quantity Surveyor)]

They might be land surveyors. I'm a quantity surveyors. So like quantity survey building new builds and stuff.

[Interviewer]

Like, what's a quancy?

[Oliver (UK Quantity Surveyor)]

Quantity, quantity.

[Interviewer]

Oh, quantity surveyor.

[Oliver (UK Quantity Surveyor)]

The accent.

[Interviewer]

I was like a quantity. I was like. Is that a different word?

[Mechanic / Boxer]

No, no.

[Interviewer]

Okay. Do you have friends that have debt or is it kind of like a. Just not a. Not as big of a thing over there?

[Oliver (UK Quantity Surveyor)]

Yeah, they do, but it's very low interest from the government on their university payments. People don't obviously don't have medical debt. No one has medical debt. Some people might obviously have that on the houses.

[Interviewer]

Like a car payment?

[Oliver (UK Quantity Surveyor)]

Yeah. Average car payment in the UK is probably about £400, £500, so about 6, $700.

[Interviewer]

That feels like a lot. But you don't have a car payment?

[Oliver (UK Quantity Surveyor)]

No, my car's. I have a company car.

[Musician with Student Loans]

Wow.

[Interviewer]

And then what about credit card debt? Do a lot of people go into credit card debt?

[Oliver (UK Quantity Surveyor)]

Probably not as much as in America. I personally don't, but maybe there are people that are a bit frivolous at times.

[Interviewer]

A British gentleman. How much debt do you currently have?

[Mechanic / Boxer]

None.

[Interviewer]

Zero, Not a penny. Is this just a thing, like anytime I talk to someone who's from across the pond, they're like, no, we don't. Debt is weird over there.

[Mechanic / Boxer]

Well, obviously I'm still young, but like, I don't pay anything monthly. I try and pay it all off, you know, then. Then I don't owe anyone anything, you.

[Interviewer]

Know, it's just no car payment, no credit card debt, no student loan debt.

[Mechanic / Boxer]

No, no, I didn't go to university.

[Interviewer]

What are you doing?

[Mechanic / Boxer]

I'm a mechanic, but I box as well.

[Interviewer]

Oh, fantastic.

[Mechanic / Boxer]

Yeah, that's why we're here. We're celebrating a thing. I've just been doing, so.

[Interviewer]

And you went into the trades. What would you say to people who maybe like, they're trying to figure out what they want to do with their life? How would you say, hey, this is why you should go into the trades?

[Mechanic / Boxer]

Well, I don't know what it's like over here, but where we are, you know, these people go to university and college and they come out with these high end degrees, but they got no jobs, no experience. Yeah. So they're good on paper, but they're not good in real life.

[Interviewer]

What does a mechanic make over there at your age?

[Mechanic / Boxer]

20 grand a year.

[Interviewer]

Okay. But yeah, but you live a simple life.

[Mechanic / Boxer]

Oh, yeah, very.

[Interviewer]

It's enough to travel to Nashville and not go into debt for it.

[Mechanic / Boxer]

I don't drive a flash car. I don't like. I don't need to impress anyone. Yeah. I just.

[Interviewer]

You're. I feel like mechanics know better.

[Mechanic / Boxer]

Well, yeah, we have to. You have to. Yeah.

[Interviewer]

And whatever you drive, you know how to fix.

[Mechanic / Boxer]

I don't know, it's getting difficult.

[Interviewer]

What kind of mechanic are you?

[Mechanic / Boxer]

Just a car mechanic. Yeah, all vehicles. But it's getting difficult now because obviously the software and stuff like that, the garage that I'm in is.

[Interviewer]

We're not now it's like tech support for these cars.

[Mechanic / Boxer]

Yeah, definitely. Yeah. We get electric cars. Electric vehicles in that we can't touch, can't do anything with them.

[Interviewer]

Okay.

[Mechanic / Boxer]

The world's going crazy.

[Interviewer]

Well, congratulations on living debt free, man. Keep it up.

[Mechanic / Boxer]

Thank you very much.

[Interviewer]

Spread the word here in America while you're here.

[Mechanic / Boxer]

Yeah. Why is that big here?

[Interviewer]

Oh, it's the biggest.

[Mechanic / Boxer]

Yeah.

[Interviewer]

Yeah. We love debt around here.

[Mechanic / Boxer]

So me and the guy that we traveled with realized that there's so many nice cars here and we wondered how like, you guys are paying. We thought you were paying them off. Like, we can't. We couldn't find a car that was under, like, you know, 50 grand in one place.

[Interviewer]

Sounds about right. And just know at least Half of them, if not more, are financed at, you know, six, seven hundred dollars a month.

[Mechanic / Boxer]

Yeah, that's mad. It's crazy.

[Interviewer]

It's wild, dude. It's wild. Well, thank you. Appreciate your time, man.

[Mechanic / Boxer]

Cheers. Thank you.

[Interviewer]

Cheers. It's the cowboy that makes the hat. So tell us, how much debt do you have currently?

[Mechanic / Boxer]

Go ahead.

[Interviewer]

You looked at her like it's her debt. It's her battle to fight. How much debt?

[Married Couple Spokesperson]

It's my fault, though.

[Interviewer]

You're asking me a tough.

[Musician / Debt-Free Artist]

Personal debt.

[Married Couple Spokesperson]

Let's do personal debt.

[Musician / Debt-Free Artist]

Personal debt.

[Mechanic / Boxer]

Our home.

[Interviewer]

And that's about it, right?

[Mechanic / Boxer]

Our home.

[Interviewer]

Just a mortgage. Anything you want to tell him today? Any news you want to drop? That's why we're here.

[Married Couple Spokesperson]

Probably like 800,000, something like that, that we have in debt.

[Interviewer]

You got the mortgage, but no consumer debt. No credit cards, no car loans, nothing.

[Married Couple Spokesperson]

We have credit cards, but we pay them off every month.

[Interviewer]

Every month? Every month. Okay, okay. All right.

[Married Couple Spokesperson]

Try to do that. It's hard, I know, but we.

[Interviewer]

Where are you guys from? Miami. Oh, that's big. Living in Miami. Are a lot of people in Miami in crippling debt to, like, keep up a lifestyle? Most probably they all just super rich and they can afford it. No, most probably they're in debt just like everywhere else they're in debt. Yeah, big time. But Miami especially feels like you're trying to keep up because rents are very.

[Married Couple Spokesperson]

High, mortgages are very. You know, the value of properties, even though they're going down now, they were very, very inflated. So it's very hard to. For young people or for people just graduating to. To buy a property, it's very difficult. You'd rather rent.

[Interviewer]

It makes more sense mathematically right now. Did you guys have debt and you paid it off, or have you always avoided debt?

[Married Couple Spokesperson]

I mean, we've been married for, like, 20 years, so early on we had debt. But we kind of became very disciplined about trying to live within your means, and that's tough. I know. Believe me, I know.

[Interviewer]

So what advice would you give to someone in their 20s who's starting out in their careers?

[Mechanic / Boxer]

You gotta.

[Interviewer]

If you're starting, you should start before your 20s. If you have a job or if you're making any type of income, just put away as much as you can. Invest as much. Even if it's nothing.

[Married Couple Spokesperson]

Just keep putting money in there. But don't forget about it.

[Interviewer]

Forget about it. Okay. What's the worst financial mistake you guys have made?

[Married Couple Spokesperson]

We got scammed once. We did get scammed once, and it was Your fault.

[Interviewer]

Like, I should have saw it coming.

[Married Couple Spokesperson]

That was my fault for not vetting them properly and not doing it right.

[Interviewer]

So got a little, little excited one. Let's just do it. Let's do it. Let's do it.

[Married Couple Spokesperson]

And it was going to be quick, and I needed it to be quick.

[Interviewer]

Were you married at the time?

[Musician / Debt-Free Artist]

Yes.

[Interviewer]

Okay. Because you're looking. You're going. Yep. I remember that. I still resent her a little bit for that, but, you know, two grand in the scheme of things. It's not good when you get scammed because you feel like an idiot, but it's not. It's not. It's not the end of the world. It wasn't the end of the world. So you've been scammed before. What steps have you put in place to make sure that you don't get scammed again?

[Married Couple Spokesperson]

Before we started doing our own business, I was in sales. So I go by feeling and by. So now I bet. You know, what if you could do.

[Interviewer]

More than just vet and go off of vibes? What if there was a service that could go in and remove your personal info from all these data broker sites?

[Married Couple Spokesperson]

Yeah, that'd be great.

[Interviewer]

It's called Delete Me. So here's what they do. There's privacy experts, they scour the Internet for your personal info on these data broker websites that sell it to spammers and scammers, and they remove your info and send you a report every few months. You can get 20% [e-mail] George on their annual plans. Or click the link in the description or tell us, how much debt do you currently have?

[Musician / Debt-Free Artist]

I have no debt currently.

[Interviewer]

Wow. How did you accomplish that?

[Musician / Debt-Free Artist]

I just don't have a credit card. I don't really buy anything that I don't need. And yeah, pretty much how weird that.

[Interviewer]

Is in America today.

[Musician / Debt-Free Artist]

Yes, Yes. I watch it.

[Interviewer]

How do you just not buy things you don't need? What's the point of living when you're.

[Musician / Debt-Free Artist]

A struggling artist, a starving artist who's trying to make ends meet, then you really kind of. It puts things into perspective for you.

[Interviewer]

So being a musician has helped you live on less than you make and avoid debt because you're like, this is survival out here.

[Musician / Debt-Free Artist]

Exactly.

[Mechanic / Boxer]

Yeah.

[Musician / Debt-Free Artist]

You realize how much it really, it means to be surviving out here and so having like to live by playing a gig and making money off of people's generosity and their tips. Mostly, yeah. It's really uncertain. And so with all that uncertainty, you figure you might as well Try to balance one thing and it might as well be your finances. And so that's where we're at.

[Interviewer]

That's wise. Okay. How much do you have in savings right now? In savings?

[Musician / Debt-Free Artist]

I've got about five or six thousand.

[Interviewer]

Way to go.

[Musician / Debt-Free Artist]

I mean, I'd rather have more.

[Interviewer]

Are you working on building that up?

[Musician / Debt-Free Artist]

Building that up? Yeah. I'm 28 years old, so I've been building it for a while and there was a time in my life when I wasn't doing well financially and so I had to kind of figure that out. And so that's why I'm trying to build it still. And we're on a good path, I'd say.

[Interviewer]

Okay, so you've got some savings built up a little bit.

[Musician / Debt-Free Artist]

Yeah.

[Interviewer]

Do you know the savings rate? Like what is the, the apy you're making on your savings currently with your bank?

[Musician / Debt-Free Artist]

Oh, no, I don't know. I have no idea.

[Interviewer]

Do you know what bank it is?

[Musician / Debt-Free Artist]

Yeah, it's fifth, third.

[Interviewer]

I could tell you if I check. I dare you to check right now. Maybe a half a percent if you're lucky.

[Musician / Debt-Free Artist]

Yeah, that would, you know, that would kind of make sense.

[Interviewer]

What if I told you there's a better place to store your money that could actually make you more money, like.

[Musician / Debt-Free Artist]

A better set, better way to save, like a better savings area. Okay.

[Interviewer]

Place to store your money. Like Fairwinds Credit Union, which you can open online. And they have an incredible high yield savings account and a no fee checking account. They want to see people get out of debt, stay out of debt and help them win financially. Whereas most banks are trying to lure you into the next debt product. You know, makes sense. So you can go check them out. Fairwinds.org Ramsey I think you'll be pleasantly surprised at how much more you'd be making if you stored your savings over there. Okay.

[Musician / Debt-Free Artist]

Fairwinds.org Ramsay Ramsey. Copy that.

[Interviewer]

Good memory. Well, if there's one thing to take away from these interviews is that debt doesn't have to be normal. I talked to lots of people today who said, no, I don't have any debt. I just live on less than I make. I live below my means. That's the way to live if you want margin flexibility and options. And I also talked to people who felt like they were never going to get out of debt and they had no game plan to do it. So if you want to know the best way to get out of debt once and for all, it's called the debt snowball. And I break it down in this next video, so watch it up next or use the link in the description. If you enjoyed this video, be sure to hit that like button. Subscribe to the channel and share this video with someone who might need to see it. Thanks for watching. We'll see you next time.