Cullen and Katie: Drowning in debt, parenting is inept | Part #24

[GigglyMint]

Selling the house and the car will not likely help them with their debt. The house sale (when it happens) might just break even with their purchase of the house. Selling a car is almost always a loss, but they won't have that MASSIVE car payment.

I guess a lot of these YTers thought they were set for life when the income was $100K+ a month and lots of brand deals.

The should have put it all in savings!

Of course it would help. As long as the loans are covered, that’s thousands of dollars a month they’ll free up.

But they will still need a place to live, assuming they don't move in with Doc and Dolly, so it won't likely actually "free up thousand of dollars a month". They may end up with a lower rent, but they will still have to pay out _something_.

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Sure, but they could feasibly have no car payment for awhile (the Infiniti is a brand deal) and rent/mortgage that’s a 3rd of what they pay now. It would be significant.

[chloe6124]

Cutting a house payment or rental by 1/3 and getting rid of the 900.00 car payment frees up a lot. If their house payment now is like 3500 and the buy or rent for 1500. That’s 2000. Add the car payment and that takes it up to 3k Of freed up cash. They live in Alabama they can probably find a really nice house for 250k. That’s like 1/3 the price of their house now. That 3k can then be used to get credit cards paid down. Just those two items will take a big burden off their shoulders.

Having birthday parties and going on trips though doesn’t excuse anyone from paying bills though.


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[lmmomSD]

I don't think Katie will settle for someplace that is a third of what they are paying now. Her idea of downsizing when they were first discussing looking for another house was 3000 SF.
Did they say what their house payment is? I just don't see them actually getting into a place that costs _that_ much less than they are paying now. Yes, they will save the car payments, which will help a lot.

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[chloe6124]

I don't think Katie will settle for someplace that is a third of what they are paying now. Her idea of downsizing when they were first discussing looking for another house was 3000 SF.
Did they say what their house payment is? I just don't see them actually getting into a place that costs _that_ much less than they are paying now. Yes, they will save the car payments, which will help a lot.

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That house was over 600k. That house payment is at least 3500. Their last house they said was 2600sq feet. That’s what they need to go back to.


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[Boymomma123]

This video was a lot better than the others and they (Katie) seemed less defensive and took some ownership for their choices.

I just cannot even begin to understand how they can be living in a 700,000 dollar home driving a 70,000 dollar car and not be able to afford groceries/Christmas gifts.

I know we don't see what goes on behind the scenes and maybe they are contacting brands and trying to build their "business". But this all just makes them seem so lazy, Katie was actually gaining followers all last year when she was uploading on her channel regularly. I see no reason why she could not still be uploading to earn more income. What could they possibly be doing with all of their time.

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[ba1006]

Of course it would help. As long as the loans are covered, that’s thousands of dollars a month they’ll free up.

But they will still need a place to live, assuming they don't move in with Doc and Dolly, so it won't likely actually "free up thousand of dollars a month". They may end up with a lower rent, but they will still have to pay out _something_.

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Sure, but they could feasibly have no car payment for awhile (the Infiniti is a brand deal) and rent/mortgage that’s a 3rd of what they pay now. It would be significant.

She said in today's vlog that the Infiniti had to be returned as it was just a loan. Of course they could buy a used car and that would help. I wonder if they will just rent for a while or, like someone said, move in with relatives.

[lmmomSD]

I don't think Katie will settle for someplace that is a third of what they are paying now. Her idea of downsizing when they were first discussing looking for another house was 3000 SF.
Did they say what their house payment is? I just don't see them actually getting into a place that costs _that_ much less than they are paying now. Yes, they will save the car payments, which will help a lot.

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That house was over 600k. That house payment is at least 3500k. Their last house they said was 2600sq feet. That’s what they need to go back to.


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They should, yes. But will they? Katie doesn't seem to actually want to downsize, if she is talking about 3000SF.
And all of this is assuming that the house sells in any kind of timely manner. It sat on the market for months before they bought it. And according to the price history, it was up for sale in July of last year-- so they put it on the market in July, and only mentioned it in November. So it's already been on the market for loooong time.
I don't disagree that they _can_ cut their expenses. I'm just saying that a) their track record for making sensible decisions and honesty isn't great, and that b) everyone is assuming that the house is going to sell soon (and the price is already $20K below what they paid, and $20K OVER what the estimate of its worth is, which means that they could conceivably end up $40K in the hole). I just think it's wishful thinking that they will _actually_ cut their costs by a few thousand dollars per month.

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[apmfacebook93]

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They really need to be looking at something like this. A much more realistic price range, plenty of space, nice and updated, even has an inground pool. Hopefully this is what they go with.


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[Boymomma123]

Based on their first video from back in the summer when they first listed the house Katie said they still needed more space than their first home which was 2500 sq ft. I don't see her settling for anything less than 3000 sq ft but who knows maybe they will surprise me.

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[lmmomSD]

Based on their first video from back in the summer when they first listed the house Katie said they still needed more space than their first home which was 2500 sq ft. I don't see her settling for anything less than 3000 sq ft but who knows maybe they will surprise me.

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My bad! How did I not remember the "not clickbait" video about selling the house? So they did talk about it before November.
Anyway, this is why I don't think they will actually end up saving several thousand dollars per month. Because Katie thinks they "need more space" than 2600 SF! That is just ridiculous.
We built my freaking dream house up in Washington (had to sell it when we split up) and you know what? It was "only" 2300SF, and still had an amazing master bath, walk in closets, and plenty of room for our family of 4. Katie is nuts.

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[rosie_dalia]

They really need to be looking at something like this. A much more realistic price range, plenty of space, nice and updated, even has an inground pool. Hopefully this is what they go with.


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That house is out in the real boonies. There is NO WAY they are doing that.

[chloe6124]

Even if they still want 3000 square feet they can still find a very reasonably priced home where they live. They just have to move to a cheaper neighborhood then where they are at.


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[WheresMyCoffee]

Sorry to post again, but having some sort of "tragedy" in your life doesn't mean getting into HUGE amounts of debt.

They play the BLAME GAME way too much.

Every single person on Earth has had a tragedy, but not everyone goes and buys a mansion and cars they can't afford because of it.

FFS, they need to GROW UP! (And get jobs!)

I blame BOTH of them for this mess.

to be fair, everyone handles tragedy differently and I dont think they are blaming they are just being honest. People who have tragedies absolutely go into debt trying to make themselves happy, does everyone? no, but lots do. Cullen mentioned Katies late night etsy shopping, that is something I have heard so many times.. especially women, shopping to fill a void. I definitely dont think they are trying to say this is how everyone deals with things, or this is normal.. they are saying this is the traps we fell into.

[Boymomma123]

Based on their first video from back in the summer when they first listed the house Katie said they still needed more space than their first home which was 2500 sq ft. I don't see her settling for anything less than 3000 sq ft but who knows maybe they will surprise me.

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My bad! How did I not remember the "not clickbait" video about selling the house? So they did talk about it before November.
Anyway, this is why I don't think they will actually end up saving several thousand dollars per month. Because Katie thinks they "need more space" than 2600 SF! That is just ridiculous.
We built my freaking dream house up in Washington (had to sell it when we split up) and you know what? It was "only" 2300SF, and still had an amazing master bath, walk in closets, and plenty of room for our family of 4. Katie is nuts.

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We bought a fixer upper that we have slowly made our own that is only 1800 sq ft and it is my dream home! I know katie grew up in a very large home so I guess anything else would seem small to her. I just don't see why you need all of that extra space for rooms to just sit empty. They only need a 3 bedroom, but I understand wanting a spare room.

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[PinkTuTu]

Katie said that approving/responding to the comments on the debt videos has become a “full-time job.” uhhh social media has been their full time job for years, right? Like what else are they doing all day?


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[apmfacebook93]

They really need to be looking at something like this. A much more realistic price range, plenty of space, nice and updated, even has an inground pool. Hopefully this is what they go with.


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That house is out in the real boonies. There is NO WAY they are doing that.

It’s like 25 minutes from the golf course they currently live on?
They will either have to lower their standards or be okay living in a less expensive area.


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[evil_twin_]

$700 for hair extensions?!

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[nutbagmcgee]

$700 for hair extensions?!

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Shitty hair extensions too. I about died when she said they were $700!

[Lovethesnark]

$700 for hair extensions?!

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Shitty hair extensions too. I about died when she said they were $700!

She really got ripped off. WTF?!?! $700??

[Mommy359]

I’m new to this thread, but I’m wondering if they are doing these videos in case they have a foreclosure on the house. Maybe by being open and transparent it’s giving them a Jordan Page moment of opportunity to show how they get out of this successfully or if the house doesn’t sell and they have to foreclose then they discussed this struggle. What do y’all think?