???? Want this summary as Audio + 2-page summary + the full summary? It’s in the Library with every book I’ve ever summarized (110+ ): https://littlebitbetter.gumroad.com/l/mmenh
???? Want to start a YouTube channel like this one? The exact roadmap I used to reach 10+ languages and $1.7M: https://littlebitbetter-playbook.web.app/
???? WHICH AI TOOLS DO YOU USE? None! Everything is crafted from scratch by me and my team. We have been producing videos this way since 2016—no shortcuts, just pure human creativity.
Hi Guys
If you were blown away by what you just heard, the rabbit hole goes way deeper. To truly understand how our money system works behind the scenes, you need to watch this documentary: https://youtu.be/y-DJQZLpkek
I actually paid out of my own pocket to buy the publishing rights to this film just so we could bring it to this channel for free. It is that important. Go watch it and let me know what you think.
?The best budgeting program online, at the most affordable price: https://go.calebhammer.com any questions? Email support@calebhammer.com
?1-on-1 personal financial help with our licensed/certified coach: https://calebhammer.com/coaching
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?Resources I use/would use (with discounts/sign-up bonuses):
1) Checking & Savings: Fee-free overdraft up to $200*, when you set up direct deposit. No credit check. No interest*. No mandatory fees: https://clickurl.ca/caleb-spotme
2) *I’VE MOVED MY INVESTMENTS TO WEBULL* do the same and transfer to my investing app of choice here: https://www.webull.com/k/Caleb and you get: *Cash bonus of $200 – $30,000* depending on initial funding amount, up to 8.1% APY, and up to 3.5% IRA Match.
3) Coursecareers: Get qualified for a better job and increase your income: https://coursecareers.com/a/calebhammer
4) Mint Mobile: Cellphone bills are too expensive, use my link to find a plan starting as low as $15/month in just 15 minutes with my partner MintMobile: https://mintmobile.com/hammer
5) Online security: Protect your online privacy and security NOW and for free by following my link Aura: https://aura.com/hammer
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?Fun things:
1) Exclusive episodes, private Discord, BTS, and a special thank you: https://www.patreon.com/calebhammer
2) Rules For Not Being A (bad word): https://www.calebhammer.com/rules
3) Merch: The most fun website: https://shop.calebhammer.com
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?My socials: https://linktr.ee/calebhammer
?? Want to be a guest on Financial Audit? We film weekdays in our studio in Austin, Texas (in person only)! To apply, visit: http://calebhammer.com/apply
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?Sponsorship and business inquiries: bunsiness@calebhammer.com
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These are some fun words: Caleb Hammer, financial audit, Graham Stephan, Dave Ramsey, Ramsey Show, George Kammel, Rich Dad Poor Dad, Podcast, Budgeting, Investing, Stock Trading, IRA, Roth IRA, 401k, health savings, HSA, 403b, college costs, student loans, debt, snowball, avalanche, pension, retirement, financial independence retire early.
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?*Some of the links and other products that appear in this video are from companies for which Caleb Hammer will earn an affiliate commission or referral bonus. Some of the offers mentioned may no longer be available. This is not investment advice.
?Sponsorship and business inquiries: business@calebhammer.com
Omozing is a,
• A registered NBFC
• Personal Loans upto Rs. 25 Lakhs
• Credit Score starting 600+
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Understand how credit counseling works. How credit counseling can make paying off credit card debt easy, affordable and stress free.
Who needs credit counseling? We suggest anyone with over $10,000 of credit card debt, current with their payments but struggling to pay more than the minimums is a good candidate for counseling.
The credit counseling process. A credit counselor begins the process with some simple intake questions such as marital status, number of people in household and what the client’s goals are. Next, we pull their credit report. This is a soft pull; therefore, it will not affect their credit. Now, the counselor will review liabilities. This includes any mortgages, car loans, credit cards, student loans, personal loans or any other accounts showing a balance. Next, the counselor will confirm the balances and the monthly payment amounts with the client. In some cases, we may need to obtain the interest rates on accounts from the client over the phone.
Recommendations
One of the recommendations might be enrolling into a debt management plan. On this plan, the client usually receives lower interest rates and lower payments. As a matter of fact, last year, the average client had their total payment decrease from $915 to $694 on our program. That’s a 24% decrease payment for our average customer. They also saw their average interest rate fall from 23% down below 7%.
Credit Effect
A Debt Management Plan typically has a neutral effect on your credit. You might see your score initially go down because your accounts get closed. For people that are already maxed out on their cards, they probably don’t see much change in their score at the beginning since their score is already on the lower end. But over time, as long as payments are being made on time to all accounts and new accounts are not getting opened outside the program, you should see your score gradually increase. A recent study at DebtWave showed the average client’s scores increasing about 15 points per year.
But we don’t recommend focusing so much on your credit score as a good credit score will ultimately lead you to acquiring more debt. If you have a large amount of credit card debt, focus on paying it off and nothing else. Learn to live within your means! Spend less than you make. Become Debt Free and stay that way!
Debt Management vs. Debt Settlement
A Debt Management Plan often gets confused with Debt Settlement. These plans are very different so it’s important to know how they work. A Debt Settlement Plan requires you to starve your creditors of payments for months and months and sometimes years. This of course can ruin your credit. Once the accounts are severely delinquent, the creditors will settle for about 50% of what you owe. The debt settlement company will collect monthly payment from you but won’t disburse payments until you’ve saved about 50% of one of your debts. Not only do you need to be cautious of the credit effect, but you need to understand the tax implications as well. Whatever amount of debt is forgiven will be considered taxable income. So let’s say you have $10,000 of debt and you successfully reach a settlement for only $4,500. The $5,500 debt that was forgiven becomes taxable income. Expect to pay 20-25% to Uncle Sam, so around $1,200 will be due to the IRS. And you may get sued by creditors along the way. When you fall that far delinquent, some creditors may take action to try to garnish your wages. We would avoid this debt settlement program unless you absolutely cannot afford payments on your own or the payments on a debt management program.
What to expect after enrolling?
The enrollment process consists of you paying a start-up fee which is usually around $50-$99. That amount varies depending on the state you live in. Once the fee is paid, the credit counseling agency will then contact all your creditors by sending them what are called “proposals”. Most of these proposals are sent electronically but some creditors still live in the ice age and require these to be sent by mail or fax. Although, each creditor varies, most of them reply within a week with an “Accepted” or “Declined”. DebtWave usually has an 85-90% acceptance rate with the creditors. Now, when a creditor declines the initial proposal, most times it can be fixed. Some of the more common reasons for decline include the balance was incorrect and they want a slightly higher payment, the account number was incorrect, the name on the account doesn’t match or the account is already under a hardship plan. Regardless if the proposal has been accepted by your creditors, DebtWave will debit your payment and disburse the payment to your creditors. You have the option to make ACH payments weekly, bi-weekly, semi-monthly or monthly with DebtWave.
How do rich people use debt to build wealth while everyone else drowns in it? In this personal finance breakdown, we run the real math on the six debt mechanisms billionaires, business owners, and investing pros actually use — and the one number that separates winners from losers on every single loan.Two people can take the exact same loan, at the exact same interest rate, on the exact same day. One ends up buried. The other ends up richer than when they started. Same debt. Opposite result. The difference is one number — and once you see it, every “rich people trick” becomes the same equation with different inputs.We walk through all six mechanisms: trade credit and the inventory float, the real estate cash-out refinance, the billionaire “Buy, Borrow, Die” tax strategy, securities-backed lines of credit (and the margin-call risk underneath them), 0% balance transfer arbitrage, and the credit score lever that makes every future loan cheaper for the rest of your life.Some of these are billionaire-only. Some you can run today with the money you already have. We’re honest about which is which — no hype, no courses, just the math. This is money management the way the wealthy actually think about it, not the way personal finance gurus tell you to.??
TIMESTAMPS:
00:00 The One Number That Changes Everything
00:35 Debt Is Just Rented Money: The Spread Equation
02:10 Mechanism 1: Trade Credit & The Inventory Float
03:55 Mechanism 2: Real Estate Cash-Out Refinance
06:20 Mechanism 3: Buy, Borrow, Die — The Billionaire Tax Trick
09:00 Mechanism 4: Margin Loans & The Dark Side of Leverage
11:00 Mechanism 5: 0% Balance Transfer Arbitrage
12:30 Mechanism 6: Your Credit Score Is The Number
13:30 How To Run The One Number On Your Own Life
15:00 Final Takeaway
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Disclaimer: This content is for entertainment and educational/informational purposes only and is not financial, medical, or psychological advice.
? *MAJOR ANNOUNCEMENT* To make our classes and budgeting app *more affordable*, we bundled them together for an *80% DISCOUNT* – check it out here and change your life: https://dollarwise.com/dollarwise-central/ plus you get the cookbook signed by me when you join!
?Oh my goodness… he’s been hiding stuff behind her back, and she goes for his THROAT- this is an intense post-show, watch here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join
??Download the *DollarWise Budgeting App* today: *Apple:* https://apple.co/4iChGhr *Google Play:* https://bit.ly/sb-googleplay Don’t overcomplicate this crap! All you need is an automated / SIMPLE budget.
??? *AND REMEMBER* those who sign up for DollarWise Premium *annual* get a signed version of the Cook Book, just submit proof of purchase here: https://tally.so/r/3xzPq5
???Download the *DollarWise Budgeting App* today: *Apple:* https://apple.co/4iChGhr *Google Play:* https://bit.ly/sb-googleplay
? Watch this episode’s *POST* *SHOW* + get *MORE* Financial Audit here: https://www.youtube.com/channel/UCLe_q9axMaeTbjN0hy1Z9xA/join
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?EDUCATION:
1. Get all of my educational programs for a much lower cost here, including the premium version of my budgeting app: https://dollarwise.com/dollarwise-central/
2. *The best budgeting program online: https://calebhammer.com/budget
3. Get my investing class and I’ll give you a $100 towards investing: https://calebhammer.com/investing
4. Win with GOOD debt and get out of BAD debt correctly, learn in my debt program: https://calebhammer.com/formula
5. Everything you need for buying your first home to buy your first investment property:
https://calebhammer.com/realestate/
6. Get your own free Hammer Financial Score: https://www.calebhammer.com
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?RESOURCES
1. *I’VE MOVED MY INVESTMENTS FROM MOOMOO* do the same and transfer to my investing app of choice here: https://www.webull.com/k/Caleb and you get: *Cash bonus of $200 – $30,000* depending on initial funding amount, up to 3.5% IRA Match, 12-month Wall Street Journal subscription, and 30 days of Webull Premium.
2. Checking & Savings: Get up to $500^ before payday when you sign up and set up direct deposit. No credit check. No interest*. No mandatory fees: https://clickurl.ca/caleb-mypay
3. CourseCareers: Land a high-paying job with no experience or degree by going through an affordable online course https://coursecareers.com/CalebHammer
4. Get $20 from Acorns for free: sign up to get your bonus https://acorns.com/caleb
5. The credit building debit card: First 100,000 people to sign up for Fizz with code: HAMMER10 get $10: https://www.joinfizz.com/caleb (paid ad)
6. Helium Mobile: save a ton on your phone bill, sign up and get a FREE plan when using promo code CALEB https://hellohelium.com/
7. Online security: Protect your online privacy and security NOW and for free by following my link Aura: https://aura.com/hammer
8. Therapy: Make SonderMind your mental health home in 2025. Sign up at: https://pages.sondermind.com/caleb/
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Chapters:
00:00 Intro
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?EXTRA
1. Financial Audit Follow-Ups here: https://www.youtube.com/@calebhammerclips
2. My socials: https://stan.store/calebhammer
3. Want to be a guest on Financial Audit? We film weekdays in our studio in Austin, Texas (in person only)! To apply, visit: http://calebhammer.com/apply
___________________________________________
?*Some of the links and other products that appear in this video are from companies for which Caleb Hammer will earn an affiliate commission or referral bonus. This is not investment advice.
?Sponsorship and business inquiries: business@calebhammer.com
Global investors are pulling back from US government debt, but Chinese banks are reportedly buying. With China already holding about $633 billion in Treasuries, could America’s growing debt burden give Beijing greater leverage over Washington?
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China | USA | China buying US Treasuries | China Treasury purchases | China US debt strategy | China buying US Treasury bonds | why China buys US debt | China and US debt | China US Treasury holdings | China dollar reserves | China investment strategy | US Treasury bonds explained | China economy latest news | US debt and China | China US economic relations | US China financial tensions | China and the US dollar | global debt market | US Treasury market | China financial strategy | The Palki Sharma Show | India Global Review | Palki Sharma | IGR News | IGR Media | IGR | Global News | World News | Diplomacy | Geopolitics | Foreign Policy
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The Palki Sharma Show is a news, opinions and current affairs show from IGR.
The show covers the biggest stories of our time and helps the audience make sense of an increasingly complex world.
The show is anchored by Palki Sharma, Founder, IGR.
Follow IGR across all leading platforms:
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Could you write off some debt? Go here: https://moneynerd.co.uk/debt-form/?utm_source=YT&utm_content=yCKpmx2teJs
The information provided in this video is for editorial purposes only and not intended as financial advice.
Free debt counselling, debt adjusting and credit information services are available. You can find out more through the MoneyHelper free debt advice locator: https://www.moneyhelper.org.uk/en/money-troubles/dealing-with-debt/debt-advice-locator/
MoneyNerd Limited (Company No. 12915403) is an Introducer Appointed Representative (FRN 978681) of Pacific Financial Solutions Limited (FRN 688034), which is authorised and regulated by the Financial Conduct Authority. MoneyNerd does not provide debt advice. We may introduce you to The Debt Advice Service, a trading style of Pacific Financial Solutions Limited, which can provide information about debt solutions and your available options. Fees may be payable if you enter into a formal debt solution. MoneyNerd Limited may receive a referral fee. Entering into a formal debt solution is likely to adversely affect your credit rating.
