Dave Ramsey clip that seems like the typical American story right now

[Mr.Glock]

If any of you are young reading this. Simply just never borrow money. Live a life where you live within your means.

 

[Pstmstr]

If you have the discipline to pay cash for everything, you have discipline for a mortgage building equity. Save than spend. a mortgage (assuming standard rates and not adjustable) does give one the ability to avoid rent increases. Yes, there is the possibility of a water heater dying, or unplanned expenses or necessary upgrades or increased property taxes, but it saves more money and aggravation than worrying that your landlord will not do necessary repairs. Mortgages are a good forced long term savings plan.

Perhaps I have a misunderstanding of dave ramsey, all I have heard about him is all debt is bad.

He teaches that 15 year fixed rate mortgages are the preferred way to purchase a home if you can't pay cash which most people can't. 20% down is also preferred but pretty tough with today's prices.

 

[GC7]

If you have the discipline to pay cash for everything, you have discipline for a mortgage building equity. Save than spend. a mortgage (assuming standard rates and not adjustable) does give one the ability to avoid rent increases. Yes, there is the possibility of a water heater dying, or unplanned expenses or necessary upgrades or increased property taxes, but it saves more money and aggravation than worrying that your landlord will not do necessary repairs. Mortgages are a good forced long term savings plan.

Perhaps I have a misunderstanding of dave ramsey, all I have heard about him is all debt is bad.

I think from Dave's perspective, having bad debt problems is like drinking or gambling. It doesn't take much to relapse back into bad habits so it's just better to go the teetotaller way.

 

[SlugSlinger]

With record high auto repossessions, prices for used vehicles are coming down. It’s just taking some time to work through the system. Folks are just waking away from their $1,000 vehicle payments.

Auto dealers are in a panic. They just haven’t shared that with the public.

Layoffs are next.

Stellantis builds Jeep, Ram, Dodge and Chrysler brands

Stellantis offers buyouts and early retirement to 6,400 U.S. nonunion workers as the auto industry hits turbulence​

Stellantis said Monday it will offer buyout or early retirement packages to about 6,400 nonunion U.S. salaried employees as the auto industry faces what the company is calling challenging market conditions.

The automaker, formed in the 2021 merger of Fiat Chrysler and PSA Peugeot of France, said it is taking the action “to protect our operations and the company.”

The offers, which include what the company said is a favorable benefits package, will go to workers who would like to leave the company or retire to pursue other interests.

Workers with five to nine years of service would get three months of base pay under the offers, while those with 10 to 14 years would get six months. Workers with 15-19 years would get nine months of base pay and those with 20 or more years would get a full year, the company said.

Stellantis said it has about 12,700 U.S. salaried workers who are not union members.

It said the buyouts will help prepare the company for the transition to electric vehicles.

Stellantis made buyout offers to groups of white-collar and unionized employees in the U.S. and Canada in April. It was hoping to cut the hourly workforce by about 3,500 people but wouldn’t say how many salaried workers it was targeting.

The company posted net income of just over $12 billion (10.9 billion euros) in the first half of the year. But it said a 44-day strike by the United Auto Workers union this fall cost it $795 million (750 million euros).