I Guessed How Much Debt People Have

Summary

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Podcast Summary: "I Guessed How Much Debt People Have"

Host: George Kamel (Ramsey Network)
Date: March 30, 2026

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Episode Overview

In this dynamic and playful episode, personal finance expert George Kamel takes to the street for a game-show-style challenge: he tries to guess strangers’ debt totals based solely on a series of personal and financial lifestyle questions—with no direct questions about specific amounts. Staying true to his mission of teaching financial literacy in a fun, myth-busting style, George offers observations, quick-witted banter, and candid advice as he unpacks each guest's money habits.

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Key Discussion Points & Insights

1. George’s Debt Guessing Game Explained

• George can only ask qualitative financial questions (no direct dollar figures).
• He must guess the participant's total debt within 20% or $20,000 to "win."
• The episode covers various backgrounds: retirees, teachers, students, and working professionals.

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2. Individual Debt Profiles & George’s Guesses

A. Retired Pilot (00:41 – 02:50)

• Retired airline pilot, age 70, college-educated.
• Drives a 2023 Honda Pilot, has three credit cards (primarily United Airlines VISA), invests actively, owns home (not fully paid off).
• George guesses: $0 consumer debt (correct); Mortgage guess: $180k (actual: $190k).
• Quote: "That's correct." – Pilot on having zero consumer debt (02:03).
• Multi-millionaire net worth.
• Memorable moment: George celebrates being almost spot-on: “That makes me right on all accounts pretty close.” (02:23).

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B. Cheer Coach (02:51 – 04:09)

• Working on business administration degree, drives 2015 Nissan Altima.
• Lives with parents, uses Discover credit card, not investing.
• George guesses: $10,000 in debt.
• Actual: $1,000 (all credit card).
• Quote: "That's as close to zero as I think I've seen." – George (03:49).
• Insight: Demonstrates discipline; praised as “very good with my money.”

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C. Teacher 1 (04:10 – 05:28)

• Teaches, has degree, drives 2015 Mini Cooper convertible, uses two credit cards (Southwest).
• Rents home, not investing.
• George guesses: $36,000 debt.
• Actual: ~$27,000–28,000, mostly student loans; Mini Cooper not paid off.
• Quote: "I think it's 27. 28." – Teacher 1 on debt estimate (05:04).
• Insight: Debt is primarily student loans, small remaining car loan.

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D. Teacher 2 (05:29 – 07:29)

• Younger teacher (age 23), same district.
• Drives 2016 Honda Civic, rents, has parents managing some investments.
• No known student loans; very small credit card balance.
• George guesses: $20,000 debt.
• Actual: Only $300 credit card balance.
• Quote: “As far as I know, yes.” – Teacher 2 on being debt free (06:41).
• Insight: Family played pivotal role in financial support.

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E. Actuary (07:30 – 09:58)

• Works in actuarial science, drives 2011 Toyota, uses four credit cards (Fidelity Visa for rewards), invests 8% income (with employer match).
• Owns a home (in NJ, owned for two years).
• George guesses: $68k consumer debt.
• Actual: $30k student loans, no other consumer debt.
• Mortgage guess: $340k (actual: $400k).
• Quote: "I had very, very helpful parents, so they helped with saving and cash flowing a lot of this." – Actuary (08:48).
• Insight: Decided to make minimum payments on student loans to focus on family/living expenses.

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F. Sales Professional (09:59 – 12:51)

• Sales, business degree paid for by employer, drives 2023 Kia Niro + 2011 Ford Edge, no credit cards personally.
• Invests via 401k.
• Bought home three months ago in Hobart, Indiana.
• George guesses: $28k consumer debt (actual: $20k—all auto loan).
• Mortgage guess: $310k (nailed exactly).
• Quote: "That's money right there. It's 310." – Sales Pro on his mortgage balance (12:47).
• Insight: Plans to pay off car loan quickly; avoids consumer debt otherwise.

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G. Stationary Engineer (14:05 – 16:38)

• Trade-schooled, owns three homes (two investment, one primary), drives 2023 Mustang Mach E, buying $100K truck soon.
• Two credit cards (Chase primary), $21.5k credit card debt.
• George’s guess: $24k consumer debt (actual: $21.5k).
• Mortgage total guess: $830k (actual: $700k).
• Quote: "It's free real estate." – Stationary Engineer, on owning multiple houses (14:45).
• Truck purchase: Put down $25K, $75K financed, $800/month for 6 years.
• Memorable banter: "Everything’s bigger in Texas. Including the debt?" – George (15:47).

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H. College Student (16:48 – 18:05)

• Age 19, part-time work, going for business degree, drives 2012 GMC Yukon, invests $200/month in Roth IRA, no credit cards, lives at home.
• George guesses: $0 debt (confirmed).
• Quote: "Not a chance." – Student confirming zero debt (17:52).
• Insight: Early financial responsibility and investment.

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3. Key Insights Recap (18:06–End)

• Most participants had significantly less debt than national averages.
• Many are avoiding student loan and car debt via family support or older-owned vehicles.
• Credit card and car loans are the most common forms of consumer debt.
• Some guests intentionally pace student loan payoff to balance life priorities.
• Wealth-building: Choosing used vehicles, living with parents, and employer-paid education can keep debt low.
• George summarizes, “Most people actually had less than the average amount of debt, which was encouraging… you saw most people drove a car that was 10 or 15 years old and just driving it to the ground because why have a car payment where you could use that money to build wealth for the future?” (18:08)

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Notable Quotes & Memorable Moments

• On minimal debt:
  “That’s as close to zero as I think I’ve seen.” – George Kamel on the Cheer Coach’s $1,000 debt (03:49)

• On family support:
  "I had very, very helpful parents, so they helped with saving and cash flowing a lot of this." – Actuary (08:48)

• On significant credit use:
  "All credit cards." – Stationary Engineer, confirming $21k in credit card debt (15:22)

• On mortgage precision:
  "That's money right there. It's 310." – Sales Professional, astonished George nailed the mortgage guess (12:47)

• On debt-free living:
  "Not a chance." – College Student, confirming no current debt (17:52)

• On practical car buying:
  “Most people drove a car that was 10 or 15 years old and just driving it to the ground because why have a car payment where you could use that money to build wealth for the future?” – George Kamel (18:08)

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Key Timestamps for Important Segments

• 00:41 – 02:50: Retired pilot profile
• 02:51 – 04:09: Cheer coach profile
• 04:10 – 05:28: Teacher 1 profile
• 05:29 – 07:29: Teacher 2 profile
• 07:30 – 09:58: Actuary profile
• 09:59 – 12:51: Sales professional profile
• 14:05 – 16:38: Stationary engineer profile
• 16:48 – 18:05: College student profile
• 18:06 – End: Host’s wrap-up reflections

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Tone & Style

The entire episode is playful, quick-witted, and educational—full of pop culture nods, relatable money talk, and George’s signature “snark.” Guests are treated with good humor and encouragement, regardless of their debt status.

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Summary

George Kamel’s "I Guessed How Much Debt People Have" is a revealing, engaging trek through America’s real-life money habits, highlighting that with careful planning, family support, and disciplined choices, escaping the “average debt trap” is possible for a broad cross-section of people. The episode’s friendly competition and memorable moments are paired with real lessons on debt avoidance and wealth-building—delivered in George’s energetic and approachable style.

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Transcript

[Host]

You guys know one of my favorite and only hobbies is asking random strangers how much debt they have. Well, today I'm spicing things up. I'm turning the tables, baby. Cause I'm not gonna ask them how much debt they have. I'm gonna guess how much debt they have. So before I flex my psychic abilities, hit, like on the video, subscribe to the channel. And huge shout out to deleteme for sponsoring it. Let's get to it. We're going to play a game. I'm going to guess how much debt you have based on a series of questions. Okay. You ready to play?

[Cheer Coach]

Sure.

[Host]

I have to be within 20% or 20,000, and I can't ask any questions that end with a number. Like a dollar number. Got it. All right. What do you do for work?

[Pilot]

I'm retired.

[Host]

Oh, I love it. Are you old enough to be retired? Yes. How old are you? I'll be 70 in April. Wow, this guy looks great. I hope I look this good at 70. I mean, I can tell you work out. Do you have a degree? I do. What was the degree in? Management. What did you do for a living when you were working? I was a pilot. Fantastic. That's fun. Like airline or was it. Okay, that's fun. What kind of car do you drive? Give me the year, make and model. 2023 Honda Pilot. That's a nice whip. Okay, pilot with a pilot. Did you do that on purpose? Okay. This guy's got moves, too. Where does it stop? Okay. Do you have credit cards? Yes. How many? Three. What's your most frequently used credit card? United Airlines. Visa. I'm guessing you were a pilot for United. No, I was a pilot for US Airways and eventually American Airlines after. Oh, no loyalty. You got the. Okay. Got it. All right. Are you investing currently? Yes. Okay. I'm guessing you've been investing a long time. Quite a while. All right. And do you rent or own a home? Own. I'm going to guess it's paid off. No. No. Okay. I'm going to guess your consumer debt and then I'm going to guess your mortgage debt. OK. Double game. I'm going to guess that you have $0 in consumer debt. That's correct.

[Cheer Coach]

Yes.

[Host]

Okay. High five. Thank you. I could just tell this guy the beard has wisdom. Now, the mortgage, at 70 years old, you're living in the villages. Is it one mortgage? One mortgage. And it's on the place in the village?

[Pilot]

Yes.

[Host]

Expensive place to live? Not at all. Really? Can I live there?

[Actuary]

Yes, you could.

[Host]

It just seems fair. No, State? Yeah, same with Tennessee. All right, I'm going to guess $180,000 left on the mortgage. No. Oh. How much? 190. Come on. 190. That makes me right on all accounts pretty close. And I'm going to guess that you are a net worth millionaire. Multi. Multi, baby. Gosh. Stafford is it? Yes. Such a pleasure meeting you. Okay. What do you do for work?

[Cheer Coach]

I am a cheer coach.

[Host]

Okay, wonderful. Do you have a degree?

[Cheer Coach]

I am working on it right now.

[Host]

What is the degree in?

[Cheer Coach]

Business administration.

[Host]

Lovely. Okay. What kind of car do you drive? Give me the year, make and model of the car.

[Cheer Coach]

A 2015 Nissan Altima.

[Host]

That's what's up. Okay. Do you use credit cards?

[Cheer Coach]

I do.

[Host]

What is the most frequently used credit card?

[Cheer Coach]

A Discover credit card.

[Host]

Are you investing currently?

[Cheer Coach]

I am not.

[Host]

Do you rent or own a home?

[Cheer Coach]

I live with my parents.

[Host]

Hey. Okay. Woo. This is a tough one. Okay, so you rent with your parents, you drive an 11 year old car, you're working on a degree in business administration and you're employed full time.

[Cheer Coach]

Yep.

[Host]

I'm going to say you are $10,000 in debt.

[Cheer Coach]

You are incorrect.

[Host]

Oh, give me the real number.

[Cheer Coach]

$1,000.

[Host]

$1,000. That's amazing.

[Cheer Coach]

Thank you.

[Host]

Wow. That's as close to zero as I think I've seen.

[Cheer Coach]

Yep. Very, very good with my money.

[Host]

What's the thousand dollars?

[Cheer Coach]

My credit card.

[Host]

Credit card. Okay, so you are in a tiny bit of credit card debt.

[Teacher 1]

Yep.

[Host]

Working on paying that off. So I was not, I mean I was within 20,000 but I was not within 20%. So I think you'll win this round.

[Cheer Coach]

All right. Thank you. Yep.

[Host]

Congratulations. What do you do for work?

[Teacher 1]

I am a teacher.

[Host]

Okay. Do you have a degree?

[Teacher 1]

Yes.

[Host]

What do you drive? Give me the year, make and model?

[Teacher 1]

A 2015 Mini Cooper.

[Host]

Wow. Throwback.

[Stationary Engineer]

Love it.

[Host]

Okay.

[Teacher 1]

Convertible?

[Host]

The convertible Mini Cooper. Ok. Do you use credit cards?

[Teacher 1]

On occasion. I try not to though.

[Host]

Okay. How many do you have?

[Teacher 1]

I have two.

[Host]

What's the one you most use?

[Teacher 1]

Southwest.

[Host]

Gotta get those Rapid Rewards. Gotta get those Rapid Rewards, baby. No, we don't. Do you rent or own a home?

[Teacher 1]

I rent.

[Host]

Are you investing currently?

[Teacher 1]

No.

[Host]

Okay. Based on what you told me, I hope and pray the Mini Cooper's paid off. You might still be paying on the student loans because of your age. I'm gonna guess that you're $36,000 in debt.

[Teacher 1]

I, I think honestly I don't have an exact number, but it's mainly student loans. So it's probably. Do you Want me to give you a number?

[Host]

Give me the number.

[Teacher 1]

I think it's 27. 28.

[Host]

I'm calling that a win for me, baby. I was pretty daggum close.

[Teacher 1]

Yeah, you were. You were.

[Host]

Wow. Is the Mini Cooper paid off?

[Teacher 1]

It is not.

[Host]

What's left on it?

[Teacher 1]

Couple thousand.

[Host]

Okay, almost there. Did you buy it new or did you buy it used?

[Teacher 1]

Marketplace, Shout out. Facebook.

[Host]

Facebook, Marketplace. Okay. All right, let's see if I'm as close with you. All right. And you're a little younger.

[Teacher 2]

Yep. 23.

[Host]

Okay. What do you do for work?

[Teacher 2]

I'm a teacher as well.

[Host]

Oh, do you guys teach at the same school?

[Teacher 1]

Same school district.

[Host]

How sweet is that? Okay, do you have a degree?

[Teacher 2]

Yes.

[Host]

Teaching? Yes. Nailed it. Bachelor's?

[Teacher 2]

Yes.

[Host]

Okay, what do you drive? Year, make and model?

[Teacher 2]

2016 Honda Civic.

[Host]

That's a sick whip right there. Okay. Do you use credit cards?

[Teacher 2]

I have one, yes. Which one is it just like Wells Fargo, Active cash.

[Host]

I have that. We don't like the inactive cash. We don't want the active cash. Are you investing currently?

[Teacher 2]

I have accounts, but my parents were in charge of those, so.

[Host]

They're in charge of it.

[Teacher 2]

Yeah.

[Host]

We'll take care of this. Let's not have you messing with it.

[Teacher 2]

Yeah, exactly.

[Host]

Okay. Do you rent or own a home?

[Teacher 2]

I rent.

[Host]

I imagine San Diego. Pretty expensive. Okay. All right. I'm gonna guess that you are $20,000 in debt. Give me the number.

[Teacher 2]

I don't even know. I don't have any student loans.

[Host]

How can I be wrong if you

[Teacher 2]

don't even know, like, what's on my credit card right now?

[Host]

I pulled your credit report. What would it show as far as your open accounts that have a balance?

[Teacher 2]

I think I have 300. I have to pay on my credit card right now. And that's it.

[Host]

So pretty much debt free as far as you know?

[Teacher 2]

As far as I know, yes.

[Host]

To ask dad and Mom. Say you're the financial advisors. Wow. Okay. That's impressive. Are you shocked? Are you learning this in real time?

[Teacher 1]

Yeah, I am learning this in real time. I want to see her now.

[Host]

Now. Is this because mom and dad helped along the way with the car and school and all that?

[Teacher 2]

Yeah.

[Host]

What did they cover as?

[Teacher 2]

Like, as school and college?

[Host]

Do they pay for the car outright? Do they pay for school outright?

[Teacher 2]

It took me for when I graduated. College, like, paid off.

[Host]

Graduation gift. And you've kept it?

[Teacher 2]

Yes.

[Host]

Okay. And school was paid for as well?

[Teacher 2]

Yes.

[Host]

Wow.

[Teacher 1]

Okay, so mom is right over there if you want to give her A hard time.

[Host]

I'm gonna give her a. Well, she's doing the best she can.

[Teacher 1]

She's not doing. You know what they're.

[Host]

She raised you. Well.

[Teacher 2]

I'm not good at saving money, so

[Host]

it's definitely sounds like they were more worried about her. Yeah, yeah, it was more of protect her from herself.

[Teacher 1]

Mom should be more worried about me.

[Host]

She is. What do you do for work?

[Actuary]

I work as an actuary.

[Host]

Do you have a degree?

[Actuary]

Yes.

[Host]

What's the degree in?

[Actuary]

Actuarial science.

[Host]

Sounds exciting. What kind of car do you currently drive? Give me the year, make and model.

[Actuary]

2011 Toyota F4.

[Host]

That's what's up. Okay, so we're talking 15 years old.

[Actuary]

That's right.

[Host]

All right. Do you use credit cards?

[Actuary]

Yes.

[Host]

How many do you have?

[Stationary Engineer]

4.

[Host]

What's your most frequently used card?

[Actuary]

It's a Fidelity Visa rewards card.

[Host]

Fidelity, man.

[Actuary]

That's right.

[Host]

Look at you. Are you investing currently? Yes. Do you know what percentage of your income you invest per month? It's about 8, 8% right now, including employer match. So you invest 4 and you get 4.

[Actuary]

That's right.

[Host]

Okay, got it. So you're investing 4% of your income? Sure. All right, 130 grand. That's solid. And you rent or own a home?

[Actuary]

Own.

[Host]

How long have you owned it for?

[Actuary]

Two years.

[Host]

Okay, I'm going to guess consumer debt and then I'll guess mortgage debt separately. Is that fair?

[Actuary]

Okay.

[Host]

Okay. Consumer debt. I'm gonna say you got 68 grand total in consumer debt.

[Actuary]

As a household, I have 30 grand in student loans and then I pay off the credit cards each month.

[Host]

Wow. And no debt free to the wife.

[Actuary]

Correct.

[Host]

So 30 grand is the actual number,

[Actuary]

not including the mortgage?

[Host]

Yes. Okay. I was way off. I thought that degree cost you a pretty penny.

[Pilot]

It did.

[Actuary]

I had very, very helpful parents, so

[Host]

they helped with saving and cash flowing a lot of this.

[Actuary]

The student loans part?

[Pilot]

Yes.

[Host]

Otherwise you probably would have been in 68k.

[Actuary]

Probably.

[Host]

All right, so I was almost half right. All right, let's guess the mortgage. Now you're in New Jersey.

[Actuary]

That's right.

[Host]

Pretty expensive place to live. You bought it two years ago. Imagine it cost you a pretty penny. All right, I'm going to guess the mortgage is $340,000. 400. 400. I think that's a win for me. That's close enough for government work. That's within 20%. Okay, so let's talk about the student loans. You got 30 grand. Are you working on paying them off?

[Actuary]

Not exactly. I'm trying to just balance being able to live my life now with my wife staying at home and having a bigger family size. I have two kids already and plan to have more. And so we're trying to just put more money towards that than necessarily paying down the loans right now.

[Host]

Okay, so you got 30 grand at. What's the interest rate?

[Actuary]

4.125.

[Host]

So. And you're just going to make minimum payments until it's paid off? Essentially, yeah.

[Actuary]

That's the current plan.

[Host]

Okay. It might cost you double after all is told. After 20 years with interest, Likely, yes. That's a trade off you're willing to take in order to cover other expenses right now?

[Actuary]

Absolutely.

[Host]

Okay. What do you do for work?

[Pilot]

I'm in sales.

[Host]

Do you have a degree?

[Pilot]

I do not, no, actually.

[Host]

Did you finish high school?

[Pilot]

I did finish high school, yes.

[Host]

Did you start college or never went?

[Pilot]

I actually did get a degree, but it was paid for by my work. And I don't really. I don't really consider it.

[Host]

I don't use it. So fake degree to you?

[Pilot]

A fake degree that I got on my.

[Host]

What's the degree in?

[Pilot]

It was in business.

[Host]

Business degree. Online. Okay.

[Pilot]

Yes.

[Host]

All right. And your work paid for it. That's nice.

[Pilot]

Yeah.

[Host]

Didn't go into debt for that. I know that so far. What kind of car do you drive? Give me the year makes and models of any cars in your life.

[Pilot]

23 Kia Niro and a 2011 Ford Edge.

[Host]

Okay. Is mama getting a newer car?

[Pilot]

I use it more than her. Yes.

[Host]

All right.

[Pilot]

Hey, she's local.

[Host]

That's all right. She seems happy. Yes. All right. Do you have credit cards?

[Pilot]

I do not know.

[Host]

She. You sounded like. Well, I don't.

[Pilot]

But she has one.

[Host]

Yes. What is the card that she uses?

[Pilot]

I don't know. That's a Visa card.

[Host]

None of my business. All right. Are you investing currently?

[Pilot]

I have 401k. Yes.

[Host]

And you're investing into it every month, correct?

[Pilot]

Yes.

[Host]

Oh, and you, do you rent or own a home?

[Pilot]

I own.

[Host]

How many years did you go.

[Pilot]

Did you buy it three months ago?

[Host]

This is real fresh.

[Pilot]

This is real fresh.

[Host]

Congrats on the new home. Oh, this is tough. Okay. I'll tell you what I do know. You don't have student loan debt. You don't have credit card debt. My only guess is that the car might have a payment on it and that might be all the debt you have, which tells me you might be $28,000 total in consumer debt, off by about six grand. Boom. That's a win for me, baby. So how much is it?

[Pilot]

There's about 20.20k left on it.

[Host]

20k left.

[Pilot]

Don't tell Dave that I'm.

[Host]

Hey, he's. Trust me, he doesn't watch my channel. I wish he did. That's fantastic. Okay, so you're working on paying off the. The car. Is that the only debt? That's it. I pegged you. Are you impressed with my guessing or. Not really.

[Pilot]

I. I've seen your stuff. I know you know your stuff.

[College Student]

So that. That's.

[Pilot]

That's pretty on par with.

[Host]

He's a professional. He should get this right. Okay. How quickly are you going to pay off 20 grand? Making115.

[Pilot]

The goal is this year or next year.

[Host]

Okay, so within the next 12 to 18 months, you're thinking pay off 20 grand?

[Pilot]

Yep.

[Host]

I like this plan. I think it's very much possible, if not faster, with your income. That's awesome. Okay. Do you plan on going into any more debt?

[Pilot]

No, not that I can foresee. No.

[Host]

Okay. You want me to guess the mortgage on the new construction home?

[Pilot]

Go ahead.

[Host]

Is that a fun game? You said. Where do you live?

[Pilot]

Live in Hobart, Indiana.

[Host]

What does a new construction home cost in Hobart, Indiana? How much did you put down? Probably. You probably put down a small down payment. I imagine 5 or 10%. 10%. 10% down. I'm going to guess this mortgage balance is $310,000.

[Pilot]

That's money. That's money. That's Money right there. It's 310.

[Host]

Holy crap. Boom goes the dynamite. I'm getting cocky, right? Hey, let me take a break from guessing and have you guys guess a number. Guess how much time I've saved by using Deleteme to wipe my personal info off of the Internet in these data broker websites. I'll wait. Just kidding. 113 hours so far. That's pretty incredible. Not only is that time saved, but that's my digital life protected thanks to Deleteme, who does the hard work of scrubbing my info off these data broker sites to protect me from spam and scam. So if you guys want to check it out, they're giving you a sweet discount. Just go to this website right here, joindeleteme.com George, you get 20% off their annual plans. And you know who hates Deb almost as much as I do? Fairwinds Credit Union, another sponsor of this episode. Here's the deal. They actually want to see you win with money. They want you to become debt free, which is unlike the big banks out there. And right now, you can sign up online for their Smart Bundle, which includes a fee, free checking account and a high yield savings account. And what's really cool is they have 5,000 partner branches you can visit all over the country if you need to be in person. And 33,000 fee free ATMs. So go check it out. Get the Smart Bundle. Just go to Fairwinds.org Ramsey. What do you do for work?

[Stationary Engineer]

Stationary? Engineer.

[Host]

Do you have a degree?

[Stationary Engineer]

No.

[Host]

Did you go to school?

[Stationary Engineer]

Yes.

[Host]

Trade school.

[Stationary Engineer]

Trade school.

[Host]

Okay. What kind of car do you drive? Give me the year. Making models?

[Stationary Engineer]

2023 Ford Mustang Mach E. And I'm buying a brand new truck when we get back from Nashville.

[Host]

Whoa. And you're going to keep the Mach E?

[Stationary Engineer]

100% bonus, sir. It's hers?

[Host]

Yeah, as it should be. Okay. Do you use credit cards?

[Stationary Engineer]

Yes.

[Host]

How many do you have?

[Stationary Engineer]

2.

[Host]

Which one do you use most frequently?

[Stationary Engineer]

The Chase Card.

[Host]

Chase. Okay. Do you rent or own a home?

[Stationary Engineer]

Own three houses.

[Host]

Wow.

[Stationary Engineer]

It's free real estate.

[Host]

Okay, this is really tough for me now to guess how much. I'm gonna guess consumer debt. I'll try to guess mortgage debt separately, but it gets complex when you got multiple homes like that. Oh, okay. Currently, as it stands today, I'm going to guess that you got 24 grand in consumer debt.

[Stationary Engineer]

You're pretty close.

[Host]

What is it?

[Stationary Engineer]

About 21 and a half?

[Host]

Oh, nailed it, baby. Okay, tell us about the 21 and a half.

[Stationary Engineer]

Just, you know, fun money, you know, things we don't need sometimes. And we just bought a brand new house.

[Host]

So tell me that break down the 21 grand in debt, Is it credit cards? Is it a car loan?

[Stationary Engineer]

Credit cards?

[Host]

All credit cards.

[Stationary Engineer]

All credit cards.

[Host]

Wow. Okay, on the chase card, 21,000, what's your plan to pay that off the next couple months? Just over time. Throw as much as you can.

[Stationary Engineer]

Yeah, a little bit here and there every month.

[Host]

Okay, I gotta ask about the new truck purchase. What's the payment gonna be on that?

[Stationary Engineer]

About 800 bucks a month.

[Host]

Woo. How much are you putting down and what's the total cost?

[Stationary Engineer]

About 25 grand. I'm looking at about $100,000. Truck.

[Host]

Everything's bigger in Texas. Including the debt?

[Stationary Engineer]

Yes.

[Host]

Oh my gosh. So you're putting 25 grand down and taking out 75 grand on a car loan?

[Stationary Engineer]

Give or take, yes.

[Host]

And that's only going to be 800 bucks a month?

[Stationary Engineer]

Yeah, for like six years.

[College Student]

Woo.

[Host]

Okay, well, let's talk mortgages. Now you said you got three homes that one primary Two.

[Stationary Engineer]

Two investment properties, two investment, one primary.

[Host]

Now, okay, you got mortgages on all three?

[Stationary Engineer]

Yes.

[Host]

I'm going to guess between all three, you've got $830,000 in mortgages.

[Stationary Engineer]

About 700,000.

[Host]

Boom goes the dynamite. I think that counts. I think I was right. Are you impressed with my guessing?

[College Student]

I am.

[Host]

I'll take that from a guy from Texas with a cowboy hat on. Now, are you like a true cowboy or no?

[Stationary Engineer]

Born and raised in San Francisco, California.

[Host]

Okay, well, you're closer to a cowboy than most people on Broadway.

[Stationary Engineer]

Most people, yeah. And I married a Texan 30 plus years ago.

[Host]

That's what's up. You did great. Thank you so much for playing. Now, let's talk about debt. Now you're 19, you haven't had a lot of time to go into debt. But I'm gonna guess how much debt you have based on a series of questions.

[College Student]

Okay.

[Host]

I gotta be within 20% or 20 grand to be right.

[College Student]

All right.

[Host]

What do you do for work?

[College Student]

Mainly part time. Just side jobs. And then I work full time over the summer doing like boat rentals and.

[Host]

Okay. You have a degree?

[College Student]

Not yet. I'm in college. I don't have a degree yet.

[Host]

What's the degree going to be?

[College Student]

It's going to be a business administration.

[Host]

All right.

[College Student]

Bachelor's it will be, yes.

[Host]

All right. What kind of car do you drive? Give me the year, make and model.

[College Student]

2012 GMC Yukon.

[Host]

That'll do. That'll do. Okay. Are you investing currently?

[College Student]

I am.

[Host]

In what and how much?

[College Student]

I got a Roth IRA opened. I opened it over the summer. I put away like 200 bucks a month.

[Host]

Nice. Okay. Do you have credit cards?

[College Student]

I do not. No credit card.

[Host]

Is that purpose only?

[College Student]

Cash only.

[Host]

Wow. Finally. Okay. Do you rent? I mean, guess you're living on campus or what?

[College Student]

I still live at home. I go to a community college.

[Host]

Okay. Based on everything you told me, there is zero chance that you have debt to your name.

[College Student]

Not a chance.

[Host]

Boom. Let's go, baby. My guys out here debt free. Are you going to keep it that way?

[College Student]

Let's plan.

[Host]

Let's have a little more confidence. Of course, all you have right now is hopes and plans.

[Stationary Engineer]

Of course.

[Host]

Okay, I like this plan a whole lot. Well, I got to say, I'm pretty proud of myself. I did pretty good at guessing how much debt people had based on a series of questions. And the ones that I was wrong on. Well, mom and dad helped cover a lot of the costs, which I'm not mad about, but that feels like I shouldn't be knocked for that. And what was impressive is that most people actually had less than the average amount of debt, which was encouraging. People are going to school without debt or paying it off. They're getting cars without payments. You saw most people drove a car that was 10 or 15 years old and just driving to the ground because why have a car payment where you could use that money to build wealth for the future? And instead. And if you enjoyed this video, you're gonna love this next one where I'm on the same street, straight up asking how much debt people had. No games, Straight to the answers. So check it out next. Or use the link in the description. Thanks for watching. We'll see you next time.