"These People Are Too Stupid To Work For"

[Music] brought to you by the Every Dollar app. Start budgeting for free today. >> So, I got a bit of a bit of a problem that I'm trying to figure out how to navigate. So, I work in IT for a lot of different financial institutions and do a lot of security work for them and everything. And one of the things that's directly tied to my employment is unfortunately my lovely credit score. >> No, it's not. And I've >> not it is if you're a president of a bank, but not in it. They're not They're not going to kill you for not having a credit score. >> They'll hurt you for having bad credit, >> right? And >> but not no credit where, >> right? And that's the problem I'm running into is that I've got credit. I've had credit for, you know, I've had good credit for quite a while, but I recently with a lot of the contracts I've been doing, with all the work I've been doing, I've actually been able to get a lot of stuff paid down. And the unfortunate thing is one of my oldest accounts that I had was actually an auto loan and I paid it off here recently. And so I'm like, cool, got the car paid off, all great. And I go and check my credit score and it dropped it below 700. I'm like, what the heck? >> Yeah. Well, that's normal. Right. But the problem is with the contract of my employment, it's actually because they put it in the form of, hey, if you can't manage your finances, then why do we give you access to other people's finances to manage the servers that handle it? >> How often do they check it? >> Every six months. >> Okay. And how much debt do you have left to pay off? >> Uh, including mortgage and everything around not including your mortgage, just your consumer debt. Just curious. >> Oh, consumer debt. Um, I've got about 22. >> Okay. If you become debtree and your credit score drops below 700 and stays there and they look at you and say you're debtree so you can't manage money, well, these are people too stupid to work for. >> Seriously, >> I agree that. Yeah. So I mean they have to have you have to look at whoever's using this and saying listen if you guys are so corporate and stupid >> that the only measure of financial wellness that you have is a FICO score and I'm sitting here debtree with a strong net worth and no payments and you're calling me not responsible. You're stupid. >> I know. That's right. >> That's just dumb. Yeah. And that's what I've been trying to figure out is like how do I >> tell them just what I get on the phone with the goober signing the contract and go dude if I am financially irresponsible. Yes, fire me. But I have no debt. That is not financially irresponsible and that drives your credit score down. >> Right. And if you can't look at me and say debtree is financially responsible, then you you're too dumb to hire me. Honestly, see, you've made the assumption that there's only one way to look at this by them. And I'm saying when you get up in their grill, they're going to cave like a Walmart tent. >> Yeah. >> Yeah, they are. And the one that doesn't, so what? Move on. I'm not going to pay interest to a bank and pay payments that I don't need to be paying. So that this to create an artificial wellness score that is not really a measure of wellness, but instead is a measure of how much I pay payments in order for you some bureaucrat in corporate America who can't pull his head out of his butt to make a decision. No, don't live your life that way, man. >> Yeah. The only unfortunate thing is I actually really do like the work that I do. You're saying you're going to you're you're so freaking scared. >> Yeah. You're making a set of assumpions. You're not going to lose these accounts, man. When you go in and verbally accost them the way I'm describing and say, "I am financially responsible. I'm out of debt. The reason my credit score went down is not because I didn't pay my bills, you tubers. It's because I don't have any debt." And you may not even have to accost them. You might you might could just explain it to them the same way that you figured it out as a smart human being the same way that they're going to figure it out if you don't live with a glass half empty. Man, >> go in there and sit down and talk to them and and you're the same guy that calls up and goes, "You can't rent an apartment without a FICO score." But when you call 40 apartments, 38 of them will tell you they will rent win rent an apartment without a FICO score. So that's mythology that someone dreamed up and made everybody believe. So they keep borrowing money and staying in debt to the bank. Your other option, Ren, is just keep paying payments the rest of your life because you're too scared to talk to your employer about what real financial wellness is or your They're not even your employers. >> Well, yeah, that's a good point. >> Badgum contracts. >> That's a good point. If you run it out the other way, as detailed as you've run it out the way it not working for you, that means that you don't pay off the car, you never pay off your house, you >> you get to pay a bunch of interest for no reason. you know, $100,000 over the next 10 years to keep your FICO score working well. That's just dumb butt. No. No. And guys, this is the problem with the FICO score. If you don't know, okay, it was developed by an organization called Fair Isaac. You can look it up on their website. 100% of the elements in the algorithm that create a FICO score are about your relationship with debt. Have you taken out too much debt? Have you taken out weird debt? Have you taken Have you not paid your debt on time? >> Have you paid off debt? >> The different types of debt, >> different kinds of debt that you have. Is it a credit card debt problem? Is it a car debt issue? And so the only way you get a 700 to 800 credit score is you have paid hundreds of thousands of dollars over the scope of your life in interest to a bank. It's the only way the math works in the algorithm for you to have a FICO score. I can write you a check for $10 million. I'm not going to, but if I wrote you a check for $10 million and you put it in your bank account, your FICO score doesn't change one point. If your boss walks in and says, "I'm going to give you a $10 million a year raise. Your FICO score does not change one point. you get completely out of debt and build a million dollars in your 401's K, it does not change your FICO score one point except it will go down because you got out of debt. The FICO score is not a measure of financial responsibility. It is not except as it relates to debt. It is not a measure of financial wellness. It is not a way for you to keep score that you're doing well with your money. It's a way banks judge if you want to play kissy face with them or not. That's all it means. When they look down and they see an 800, they go, "Yum, yum, yum, yum, yum, yum, yum, yum, yum, yum. Bring that one over here. Sucker." That's what banks see. That's how they see it. They say, they see 800, they go sucker score. 800 sucker score. That's what they see. They see you've been buying a lot of stuff on credit. You like to pay interest. Come over and give us some of your money. Sucker. That's what your FICO score means. It's a sucker score. That's it, man. This is just nuts, y'all. It is not a measure of net worth. You go build a million-doll net worth, it does not affect your FICO score. You know what my FICO score is? Zero. I don't have one. It's indeterminable, which means I'm really off the grid. I must be financially irresponsible. I've got $600 million in paid for real estate, but I must be financially irresponsible. What a moronic what a moronic thing. You know, this bank wouldn't hire me that he's talking about to work on their software because I'm financially irresponsible by their measure because the sucker score is too low. It's indeterminable. And you and Sam have the same problem. You're sitt sitting here. Just a couple of us. Couple of losers sitting here answering questions. >> A couple of broke, irresponsible losers. >> This just pisses me off so bad because people walk around and I run into people at parties and they're just they they kind of know a little bit that we Ramsay does stuff with money or whatever. They don't know what and they come over, they go, you know, I I got 800 FICO score >> and I'm supposed to be nice >> when they do >> or apparently impressed. I'm Yeah. Yeah. And I just go, "Yeah, I think it's perfect for you." You know, I just keep walking. I mean, oh my god, you sucker. You just got screwed a lot and often. So, please guys, don't worship at the altar of the great FICO. The great if you we bring you offerings of interest, great FICO, and you can give us anything we want on payments. It's a suckup play, man. It's how the banks have made their whole dad gum life. Oh, it's a wonderful program if you're a banker. If you're a person, it's horrible. Please don't worship at the altar of the great fat FICO. Create your free every dollar budget today. The simplest way to budget for your