They Cashed Out $200K In Crypto And Now Have $4K In Assets — 'We've Never Created A Plan'

Core Insights - The couple initially had over $200,000 in cryptocurrency but now only possesses about $4,000 in assets, facing significant debt [1] - Their financial decline was attributed to treating crypto gains as income and making poor spending decisions [2] - The couple's living situation has become strained, living rent-free with family while managing financial instability [5] Financial Situation - Current assets total $4,000, while debts amount to $34,632, resulting in a negative net worth of $25,629 [6] - The couple has $4,242 in savings and $761 in investments, indicating a fragile financial state [6] - The absence of rent payments temporarily masks their financial issues, which would worsen if housing costs were reinstated [6] Lifestyle and Decision-Making - The couple's lifestyle choices included quitting low-paying jobs, leading to a false sense of financial security [3] - There was a lack of structured financial planning, with decisions made without clear expectations or accountability [4] - Family support has led to accumulating significant debt, including $90,000 in credit card debt and a second mortgage on the family home [8]