George Kamel - The Worst Debt Stories I've Heard All Year

Episode Date: December 31, 2025

Today, I’ll be looking back at some of my personal favorite man-on-the-street moments from the past year. Next Steps: • 🎥 Watch my video I Asked People at Disney How Much Debt They Have. ��� 📈 Are you on track with the Baby Steps? Get a free personalized plan. • 💵 Start your free budget today. Download the EveryDollar app!   Connect With Our Sponsors: • Go to Cozy Earth with code GEORGE for an exclusive offer. • Get 20% off when you join DeleteMe. • Go to FAIRWINDS Credit Union for an exclusive account bundle!   Explore More From Ramsey Network: 🎙️ The Ramsey Show 🍸 Smart Money Happy Hour 💸 The Ramsey Show Highlights 🧠 The Dr. John Delony Show 💡 The Rachel Cruze Show 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership   Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

You guys love when I go out into the wild and ask people how much debt they have. Maybe you like learning from their mistakes, or maybe looking at other people with debt makes you feel better about your own financial mess. Or maybe you're one of those sickos who enjoys comparing my height to the people I'm talking to. It doesn't matter. Are they tall? Is he short? The answer is always yes. If I could just find short people to talk to to make myself look taller, I would. But we don't have time for that. Either way, I've had a lot of fun making those videos. And today, I'll be looking back at some of my personal favorite at Man on the Street moments from the past year. Let's dive in.

How much debt do you currently have? Uh, walking out of college with 15 grand. Oh, you're graduating? I graduated two weeks ago. From college? From college. What was your degree in? Radiography, so X-ray. Nice. Okay, there's a definite job on the other side of that. You already secured a job?

Yep. Feeling good? I just got hired. Yep, start on the 18th. How quickly are you going to pay off that 15 grand in student loans? I'm hoping to get it done within a year, so. Okay, that's reasonable. I don't want to build up. If you make 60, you could pay off 15 in a year. Yeah, the interest kills you.

So get it down with right away. She gets it. I loved her so much. And I'm really proud of her for going, you know what? I did college. Yes, I took on a little bit of debt, but I'm going to knock it out fast. Okay, we can't change the past, but we can expedite the future. And instead of saying, well, I don't know when I'll pay it off in a few years, maybe when I make more.

And instead she said, no, I'm going to pay this off in a year. And she's doing the math going, I make 60, I got 15 to pay off. This is very doable. Next up. How much debt do you? currently have total? Probably like 80,000 in student loans. How about you? How much debt do you have? I feel like, like maybe like 40,000? I don't know. You just feel like, like is there, you're just like, eh, I'm fibing. I have, whatever I have from schools is it. But I'm in grad school right now,

so it's like a lot more now. Are you adding to it currently? Yeah. But everything is student loans. No car payment, no credit card, nothing else. Well, I lease my car, so I don't know how that works. Oh, that's that's debt. They'll tell you. Oh, I mean. I feel like it's fine. You, what's the payment on the lease? Like 500 a month. This is a nice car. What is this car? The Bronco. Oh, my goodness, the Bronco. That one hurt my brain more than I could show in that clip.

Because I tried to be kind. Okay, when I'm on the street, people are saying insane things. And I can't be like, what? That's... I just have to look, oh, okay. No, that's fine. Now, you can lease a Bronco while in grad school while you have a bunch of other dead. And I turned into Mickey Mouse on the street. You know what I mean? What am I supposed to do? I'm a man of the people.

But this one frustrated me because she was just all feelings. It's just, it's fine, which is honestly some of the hardest people to get through to, because they're problem unaware, and they're just vibing, floating through life, thinking one day they'll just, I don't know, marry Rich and this guy will knock out their debts for them or just keep up their fake lifestyle, driving super nice Broncos. And can I just sidebar for a second? I got beef with grad school. I think too many people are just going to grad school to kick a can down the road

because they don't know what they want to do with life. They didn't get the job they wanted right out of it. undergrad and they're going, well, I guess I'll waste a whole bunch more money to learn about more things that don't really apply in the real world. Take that grad school. Grad school burn. And also, sidebar, Bronco burn. I don't think young people should be driving brand new Broncos. And I think leases are one of the worst traps that people fall into to drive nice cars.

Do not do it. And also, her hat said worst. I don't know what the rest of it said, but I just see that it says worst. And I agree. Moving on. How much in student loans? So my schooling was $90,000. I'm close to $200,000 in debt with interest.

How long has it been? Almost 20 years ago. I bought a pickup truck. How much was the pickup truck? Like $80,000. It was used, 80,000. And my plan was also to put it on Turro, right? So other people can use it as well.

And then... Heard about this scheme before. And then I had friends that were like, no, let me just lease it from you. And then I've gotten f*** over and who pays for the truck. Okay. And we're still supporting student loan forgiveness when she goes out and buys an $80,000 truck and she's like, someone please pay off my student loans.

It's really hard. Nobody feels bad for you. But seriously, this was a really frustrating one because her immediate attitude is just, I'll die with this. I'm a victim. Nothing I could have done. What can you do? You got to have an $80,000 a truck.

You got to have a $80,000 truck. You gotta have $90,000 in student loans. Who could make a minimum payment in this economy while making my truck payment? It's impossible. Yeah, of course it's impossible if you're going to continually dig a hole instead of get out of the hole. Just get out. You don't need to keep going debt. You're not going to, you can't get through the hole.

You must get out of the hole. That whole set of people was just, that was a dumpster fire of a situation. That made me question humanity. How's that for behind the scenes? Moving on, let's head to Chicago. And you tell us how much debt you currently have. I never carry a balance on anything for the last 30 years. Okay, what advice would you give to young people out there who are about to go into debt?

They have a bunch of debt. What do you say to those people? Well, do you have to go into debt? What are you going into debt for? They can't afford life. Oh, you have to keep your expenses at the cost of life or below. If you can't, go earn more money. the cost of living and the wages and it just has the economy go find better wages go get a union job

go do an apprenticeship work one and a half jobs until you're not in debt what did you do for work most of your life i've always been blue collar that's your advice you find an apprenticeship in the trade if you want to work blue collar go get a union apprenticeship and work and work your tail off for four or five years the whole time you're making good money and you will know every six months that you're smarter than before that's beautiful speaking from a guy who literally he's wearing a blue collar. I think this is very apt. That's true, huh? That's perfect. I got him at the end there. I like this guy. I did not like his mic energy. He had like, I'm on a game show leaning in. Never do that, all right? I hold the,

I'm a professional. I take the mic to you. You don't take your mouth to my mic. All right, that's very personal. I keep it at a distance for a reason. Don't need you leaning into it. He had a very gruff energy that I did not want to mess with. But he is right, he is right. The trades are a great option for a lot of people, and I know it's not as glamorous as, I don't know, being a YouTuber. Like having to use your hands? My hands are so supple you would not believe.

Not a single callus on these hands. The world's greatest hand model. But I like what this guy had to say overall. He's saying, hey, you're just going to have to work hard to have the things you want. And if you can't afford the things you want, don't buy those things right now. It's common sense, and this guy had it. All right, let's see what we have next. How much debt do you currently have?

I'm pretty good at that. I'm pretty good. Maybe $3,000, honestly. Really? Yes. No, okay, what kind of debt's to $3,000? I have a line of credit. I'm just working to paying it off. Like a line of credit with the bank?

With my own bank, yes. What are you putting on it? I did a balance transfer, so I paid off. But I'm almost there, though. I'm done. Okay, how much did you have? Like, you've been working your way through this? Yeah, yeah, yeah, $7,000, but I'm almost there.

Do you have an emergency fund? Yes. How much is in the emergency fund? I got right now $7,000 in it growing. So you could pay off the debt today? Yes, I can. And still have four grand left over. Yes.

Would you do it right here live? I don't want to because I have the zero interest on the $3,000. Oh my goodness. I forgot about the zero interest. They're losing money on Dennis. Yes. Oh goodness, sweet, sweet Dennis. How much debt do you have?

I'm pretty good. Good at what, bro? This is wild behavior. And this is why I hate the zero balance transfer games because these lenders convince you that you're doing the smart thing by doing the balance transfer which by the way costs you three to five percent of the balance and I'm going to do the zero percent which by the way if you don't pay it off and most people don't triggers insane APR they love to keep you in their clutches while you stay in debt

and here's the craziest part he has the money to pay it off I think there's a lack of integrity there you borrowed money you have the money pay the dang debt off Dennis The menace is what he is. We've burned them. Looking cool in his shades. Got money for tattoos, but not enough to pay for his debt. Let's keep it moving. You ever Google yourself and you're like, how did they know?

Why is my address on here? Like that creepy stuff? I mean, not really. When I Google myself, basketball shows up, but I would get how that would be. Same. When I Google myself, tons of just shots of me hooping show up. Well, if you want to delete yourself from the internet, there's a site called Delete Me that does it all for you.

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Let's get to our next victim, shall we? How much debt do you have? Non-mortgage debt? Yeah. What's the balance of all the car loan, student? Under 12,000. Okay. Under 12.

Yeah. What makes up the 12th? I have a zero-balanced credit card and a personal loan that's holding a car of mine. That feels complicated. No, because it's an older car. I don't buy new cars, so I just needed a small amount of cash to be able to get that because my other cash flow was going into my businesses. So whenever I just needed that smaller, older car, I grabbed that at a lower interest rate enough for what I needed.

So that's holding six, and then the credit card I think has eight that I'm taking down. Carry the four. I'm trying to do the math in my head. You figured it out. Yeah, I'm at like 15, 14, 14. 14 or 15. All right, can I just say, first of all, this man was a financial advisor or so he claimed.

And yet, he's taking out personal loans because of cash flow issues? What? I still don't know what he was talking about. And I think the comments support me in this. George isn't short. That's Goliath. Okay, thank you.

I needed that support because that guy was unusually which is why I didn't go harder in the paint on him, okay? I was squared you, you just squashed me like a bug. And I didn't have my little pouch with rocks in it to take him down. So I was a little nervous being that close proximity. But yeah, I still don't understand what he was saying about why he did. Well, I, no, no, I didn't really take out debt.

I just, I, my car is inside. Your car is inside the loan? Get, what happened? What is going on, dude? What are you doing? What are you doing? Let's get to one more. Okay, tell us how much debt.

you have right now? Like do you owe anybody anything? Any kind of loans? I'm not. I don't right now. No credit card debt? No. How'd you pay for the trip? Just cash? Cash. Been saving for a while. Where did this mentality come from that I'm going to avoid debt? Because I don't want debt and then I'm trying to save for a house and I was working on my credit too. So I did have a credit card, but I paid it off. So I may get a new one soon just to... Why do you need a new one? Just to keep working on my credit. Is credit a big deal in Puerto Rico? It is. Wow. So it's very Americanized in that way. It's like, hey, you're what part of this? We've got to get the credit score.

Yeah. That's not good. What do you need the credit score for at this point? I just got a car, but I want to get a house soon. And I'm next year. You paid cash for the car. No, I'm paying, I'm paying money. I, I got. You just told me you didn't have any debt. You're right, you're right. I do. Is everybody lying to me out here? Come on. I thought we were friends. I got a car. Okay, what's left on the loan? Um, like 20,000. 25,000? 20,000. 20,000. 20. 20,000. 20,000. 20. 20. 20. How much did you put down? Three. What's the interest rate?

If you ask me right now, I remember, because that day I was high. I did sign for everything and I got the know. Hold up. So you were, you came back the next day to get the car and you were high and you went, Yeah, that sign right here. It sounded like a good deal. When you were high? Yeah.

Say no to drugs. That's probably what I did it. But I mean, it's no clue with the interest rate is. It's a good car. Oh, I'm sure it is. And the payment is not. that bad so what's the payment 512 512 a month for how long what how many years uh but you're asking me a question that I have not I got out the paper

she she works all that like she's the one that takes her of your girlfriend yeah she helped me with everything of money wise what does she think about you getting out this loan she wasn't happy about it but she was I mean you did it so she but she want me to pay on time and pay ahead like her car is paid off and she paid it ahead So she doesn't have any debt? I don't have it. She doesn't. Dude, you want to marry this girl one day, maybe?

Yeah, I think so, yeah. I think you better get out of this debt, my guy. I don't think she likes it. She don't. His security glance flaring up going, what other stupid things is he going to do when we're married? That's a question. I think she has her so that question every day.

I, you can't help but love this guy. He's so likable. I had such a good time talking with him, even though he's just making bad decision after bad decision in light of his girlfriend wanting to live a debt-free lifestyle. And yet, she's, I think, an accomplice in the crimes he's committed. The drug's not even being a part of the crime. I don't know what the laws are in Puerto Rico.

Bad Bunny's in charge of that over there. But in my book, I think just rule number one and one to 100, don't make any financial decisions when you're under the influence of anything. It's not going to go well for you. This guy didn't know his interest rate. He didn't know the loan terms. He just knows he got a car and it's pretty nice. And it's only $512 a month for who knows how long while he plays the credit game.

So Puerto Rico don't take notes from the states on how we handle money. Just do your own thing. Okay, listen to bad money. He's doing well for himself. All right, that is enough for today, at least for me. But if you want to keep the high going, there's plenty more where that came from. Click here to watch me asking people at Disney how much debt they have. including our Blazoned Brother from a second ago.

You can also use the link in the description. That's it for today. Thanks for watching. Don't do drugs. See you next time.