Latest news with #Mendy
Yahoo
5 days ago
- Business
- Yahoo
Canadian man sitting on $1.8M debt — what Dave Ramsey tells him to do before his whole life goes up in flames
While homeownership was once viewed as a path to wealth and financial stability, some homeowners are feeling trapped by homes they can no longer afford. Take Mendy, for example. This 35-year-old from Canada has a total of $1.8 million in debt, which includes his family home and a triplex he was renting out in Montreal. Now, with a second child on the way, Mendy's feeling downright anxious about his financial situation. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it When Mendy called into The Ramsey Show for advice, host Dave Ramsey was rather blunt, telling Mendy that he and his wife need to make some serious changes before it all burns to the ground. Struggling under the weight of debt As Mendy explained on the show, he owes $590,000 on the family home, which is worth $750,000. He also owes $680,000 on the triplex, worth about $850,000, which he's listed for sale (so far, there haven't been any takers). On top of that, he owes roughly $70,000 on each of his two electric vehicles, along with $35,000 in student loan and credit card debt, and another $350,000 in personal debt (mainly to his cousin, who lent him money for a down payment and for renovations to both properties). Mendy's total household income is around $120,000 per year before taxes. 'I had my 'a-ha' moment when I saw $22,000 going out in one month after doing a budget and I don't know what exactly to do,' Mendy shared with Ramsey and his co-host, Rachel Cruze. 'I cut out everything from potato chips to haircuts, literally anything I could to curb the debt.' Taking on more work isn't exactly an option, either. As he explained on the show, Mendy is bipolar and his doctor has told him he needs to maintain a healthy work/life balance. And making matters worse, his wife is about to go on maternity leave. 'The answer to getting rid of this anxiety is getting rid of all the crap and the debt associated with it,' said Ramsey. That starts with getting rid of the EVs and replacing them with cheap cars, 'like, $5,000 cars,' said Ramsey. While Mendy has given up on being a landlord and is trying to sell the triplex, 'that thing's got to be priced in such a way that your real estate agent can sell it and get it gone,' said Ramsey. If Mendy can make a profit of $200K to $250K on the triplex, he could then use that to pay off a chunk of his $350K personal debt. Ramsey also says getting Mendy's wife on board will require a serious conversation. 'The house is on fire, darling,' said Ramsey, assuming the role of Mendy in this conversation with Mendy's wife. 'You get to decide with me if we're going to let the house burn down or are we going to do something to put it out?' Read more: Americans are 'revenge saving' to survive — but millions only get a measly 1% on their savings. Why homeownership isn't a safety net anymore For decades, owning a home has been considered the ultimate financial security blanket, offering a path to future wealth. But these days, for many middle-class families, homeownership can mask financial instability rather than solve it. As a result, many Americans currently find themselves in a 'homeownership trap,' where the financial burden of owning a home eclipses other financial goals and erodes their quality of life. 'This year, the U.S. housing market is shrouded in uncertainty, with little indication that record-high levels of unaffordability will ease anytime soon,' states the Harvard Joint Center for Housing Studies in a report called The State of the Nation's Housing 2025. Property taxes increased by an average of 12% between 2021 and 2023, according to the report, while home insurance premiums increased 57% from 2019 to 2024. In some states — like California, Florida and Louisiana — the 'scale and frequency of climate disasters has prompted private insurers not only to raise premiums, but in some cases to reduce coverage or pull out of markets entirely.' As a result, an increasing number of homeowners are cost burdened, meaning they spend more than 30% of their household income on housing and utilities. 'As of 2023, nearly a quarter (24 percent) of all homeowners are cost burdened,' according to The State of the Nation's Housing 2025 report. That 24% translates to 20.3 million households throughout the U.S. It's also a 'reversal of a nearly 10-year trend of consistent declines in homeowner cost burdens between 2010 and 2019.' How to avoid falling into a money pit If you're planning to buy a house, you'll want to make sure you're budgeting for everything — not just the purchase price. Consider property taxes, insurance, utilities, repairs and ongoing maintenance. If you have a variable-rate mortgage, you'll also need to have room in your budget for payments with higher interest rates. Once you tally up these costs, if the total is well above 30% of your household income, you may want to consider other options — such as buying a smaller, less expensive home or even co-buying with friends or family. You'll also want to shop around for the best mortgage rate you can find, since the current rate averages around 6.72% for a 30-year mortgage. To negotiate a better rate with lenders, it helps to have a strong credit score and low debt-to-income ratio. If you can afford a 20% down payment, then you can avoid paying for private mortgage insurance (PMI) each month on a conventional loan. 'Borrowers making a low down payment might want to consider other types of loans, such as an FHA loan,' according to the Consumer Financial Protection Bureau. 'Other types of loans may be more or less expensive than a conventional loan with PMI, depending on your credit score, your down payment amount, the lender, and general market conditions.' If you're already living in a money pit, you could try to renegotiate your mortgage to lower your monthly payments. For example, you could consider a loan modification (changing the terms of your mortgage) or refinancing (replacing your existing mortgage with one that has better terms). For those living in a home they can no longer afford, like Mendy, the solution could require a more radical change — like finding a roommate, downsizing to a smaller home or moving to a less expensive neighborhood. And, like Ramsey said, 'quit buying crap you can't afford.' What to read next This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Here are the 6 levels of wealth for retirement-age Americans — are you near the top or bottom of the pyramid? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Money doesn't have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
06-07-2025
- Business
- Yahoo
The strange reason holding up Mendy's move to PSV
Nobel Mendy's signing by PSV Eindhoven is hanging by a thread. According to several Dutch media outlets and confirmed by 'El Desmarque', Real Betis had agreed to sell him for 4 million euros, but there's a catch. Advertisement The player had agreed to the deal and everything seemed closed, but the agreement is on hold until PSV resolves several bureaucratic hurdles in the Netherlands. What's happening? Simply that to sign a non-EU player, the Dutch system requires international experience, and Mendy doesn't meet that requirement. The Senegalese player has never played for his national team and only has a few games in the top tier. PSV considers the regulation unfair but has put the transfer on hold for now. Betis, which was expecting to close this sale weeks ago, could lose the income and find itself with a player in preseason who they didn't count on. Advertisement This article was translated into English by Artificial Intelligence. You can read the original version in 🇪🇸 here. 📸 Denis Doyle - 2025 Getty Images
Newsweek
10-06-2025
- Sport
- Newsweek
How to Watch England vs Senegal: Live Stream International Soccer Friendlies, TV Channel
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. England will face Senegal in this International Soccer Friendly matchup on Tuesday at The City Ground, and you can catch all the action with FuboTV. England's striker #09 Harry Kane celebrates after scoring their second goal during the 2026 World Cup Group K qualifier football match between England and Albania, at Wembley stadium in London, on March 21, 2025. England's striker #09 Harry Kane celebrates after scoring their second goal during the 2026 World Cup Group K qualifier football match between England and Albania, at Wembley stadium in London, on March 21, 2025. GLYN KIRK/AFP via Getty Images How to Watch England vs Senegal Date: Tuesday, June 10, 2025 Time: 2:45 PM ET TV Channel: Fubo Sports Stream: Fubo (TRY FOR FREE) England and Senegal will take the pitch on Tuesday, June 10th, at The City Ground in this International Soccer Friendly. England did not perform up to standards against Andorra and will look to get back on track in this tune-up match, but Senegal has proven to be a fierce competitor, having yet to lose in regulation for 23 straight matches. Harry Kane is the player to watch in this one. He is the captain of England and scored 26 goals for Bayern Munich this season, making him one of the most feared goal scorers in the world. He was the lone player to score in England's 1-0 win over Andorra. Senegal is looking to secure a third consecutive World Cup appearance and is coming off a 1-1 draw against the Republic of Ireland. This is a great International Soccer Friendly matchup; make sure to tune in and catch all the action. Live stream England vs Senegal for free with Fubo: Start your subscription now! International Soccer Friendly Potential Lineups: England: Henderson; Alexander-Arnold, Chalobah, Colwill, Lewis-Skelly; Bellingham, Rice; Saka, Eze, Gordon; Kane Senegal: Mendy; Mendy, Koulibaly, Niakhate, Jakobs; Sarr, Gueye, Camara; Diatta, Ndiaye, Jackson Regional restrictions may apply. If you purchase a product or register for an account through one of the links on our site, we may receive compensation.
Yahoo
05-06-2025
- Sport
- Yahoo
Real Madrid finalising deal for €50m left-back signing
Real Madrid look as if they will get a deal done for left-back Alvaro Carreras this week, as they try to bring in a third signing for the Club World Cup. Los Blancos were keen to revamp their defence before they went to the United States, and Carreras will follow Trent Alexander-Arnold and Dean Huijsen through the door. Carreras emerged as Real Madrid's top target towards the end of May, as they switched their attentions to the left-back spot, with Xabi Alonso seemingly just as unconvinced by current options Ferland Mendy and Fran Garcia. For his part, Carreras has been very keen to sign for Los Blancos, having previously spent time at the Real Madrid academy, and wrapped up a deal on personal terms some time ago. Real Madrid give in to Benfica demands The Portuguese side were hoping to keep Carreras for the Club World Cup themselves, but have now agreed to do the deal before the end of the temporary transfer window, which ends on the 10th of June. Benfica will feel they came out on the right side of negotiations in general though. Image via Maciej Rogowski/EurasiaInitially, Real Madrid had been hoping to get the deal sealed for around €40m, but Marca say that they will pay his full €50m release clause. The last details of the deal are being finalised according to their information, a week after it had first been declared done. Benfica will make the details of the deal public on completion. Consequences of Carreras arrival It seems highly likely that Real Madrid will now seek to move on one of Mendy or Garcia this summer. Financially, it perhaps makes more sense to sell Mendy due to his higher wages, but Garcia is the one that has interest from the Premier League and Serie A. It also means Los Blancos will drop out of the pursuit for Alejandro Grimaldo, who was their alternative to Carreras at a cheaper price. Atletico Madrid and Barcelona move into pole position for his signature.
Yahoo
28-05-2025
- Business
- Yahoo
Xabi Alonso appointment has put 29-year-old Real Madrid star's future at risk
A recent update from SPORT suggests that Ferland Mendy's future at Real Madrid could be uncertain following the expected arrival of Xabi Alonso as the club's new manager. Mendy, once backed strongly by Carlo Ancelotti, no longer enjoys the same level of support under the new tactical vision. In fact, under Ancelotti, Mendy was often described as 'the best defensive left-back in the world.' Advertisement The Italian coach considered him vital to his defensive structure, which is why the Frenchman was handed a contract extension last season until 2028, along with a significant salary increase. But things are changing quickly at the Bernabéu. Alonso's system does not favour Mendy Alonso has a clear tactical identity. He prefers playing with three centre-backs and two wing-backs, players who are not just strong in defence, but also capable of contributing regularly in attack and building up play. This system demands high mobility, creativity, and versatility from full-backs, something that doesn't quite align with Mendy's skill set. Ferland Mendy might have to consider his options. (Photo by) Mendy is an excellent defender, solid, disciplined, and hard to beat. But injuries have often slowed him down, and his attacking output is limited. In Alonso's system, he may be seen more as a backup option than a key player. Advertisement Which is why Fran Garcia seems to be a better fit tactically due to his greater flexibility and attacking instinct. Real Madrid looking for reinforcements For that reason, Real Madrid are not wasting time and are already in talks with Benfica for Alvaro Carreras. The 22-year-old Spanish left-back fits the profile that Alonso wants, and the club aims to secure his arrival before the Club World Cup. If Carreras joins, it is likely that either Mendy or Garcia will be shown the exit door, despite both having active contracts. The coming weeks will be crucial for the French defender, who may need to consider his options if he wants regular minutes, especially with a system that may no longer favour his natural style of play.
