So curious. I’ve been watching several of your videos but wondering how you plan to retire so early? Even if you pay all your debt you’ll still need to have/make money and have health insurance. Could you talk about that more?
Does the goal include buying and paying off a home? So in total buying a home which by retirement should not have a mortgage, saving for retirement from 0, and getting out of a total of current $100k debt? Big goals if that’s the case.
That is a great question. I have a whole video on my page which I actually tagged in this video or searching my page and it will give you all the details because it’s a lot more than what I can put until like once and it’s in this reply box.
These dave ramsey butt lickers are so so rude. But i do have to agree that you need to curb your spending a bit. My mom was also a single mom growing up and I wished shed fixed her spending habits sooner.
You are in a tough spot. Good move setting up a UTUBE channel. Living on 50K take home while trying to meaningfully pay down debt(credit card portion) will not happen unless you do 2 things. Increase income(take on a 2nd part time job) and further tighten down your spending(no eating out or take out eating, no gift purchases, no new clothes, etc). Create an emergency cash fund of $1,000 out of these actions so you have some buffer. From what I have read your chances of having debt forgiveness for your student loans is good. There will be a light at the end of the tunnel which will not be a train coming to hit you:) It will not always be like this but now it is, so challenge your self to step up to the tasks that are ahead of you. Yes, I have subscribed to follow your future steps.
@@NobodySpecial509 this is a great question. What I’m hoping to do is once my credit cards are paid off save up a couple of thousand dollars and sometime in the meantime of all of that call a bankruptcy attorney that specializes in student loans to see if that’s even a possibility because the way this forgiveness thing is looking, the government keeps blocking it and I’m not even sure if that’s even gonna happen. So I’m gonna try to go to bankruptcy. I am waiting until the end of this year after I file taxes because most likely I’m gonna have to give them two years and I sold my house two years ago and so when my last returns has pretty good influx of money and I don’t want that to be brought up during any bankruptcy hearings because I use that to pay off my car and my other credit card last year
I am not an attorney, however I believe student loans cannot be forgiven in bankruptcy. Use the money so save up for a lawyer and put it toward your student loan. Also, if you lived in your house for two out of the five years you owned it, you do not have to pay capital gains taxes on it. I didn’t when I sold my house.
@@fwlawrence8670…she didn’t need to pay capital gains tax (up to $250K) on the sale of the house after 2 years, but the capital gains on the sale boosted her annual income during the year it was sold.
you need to be on the rice & beans Dave Ramsey Diet plan to save money.😅
Nothing wrong with rice & beans
@@sirgigglez the way that would tear up my tummy 😂 eating healthy is cheaper in the long run 😊
@@rickhammar1636 absolutely not! I used to eat ramen all the time back in my 20’s
@@TheRachelShow i ate peaunut butter sandwhiches for 3 months to save money.😂
So curious. I’ve been watching several of your videos but wondering how you plan to retire so early? Even if you pay all your debt you’ll still need to have/make money and have health insurance. Could you talk about that more?
@@debbie7771 trust me I’ve been wanting to make a video but I just feel like I’ve been really busy lately so I plan on making a video soon about this
Does the goal include buying and paying off a home? So in total buying a home which by retirement should not have a mortgage, saving for retirement from 0, and getting out of a total of current $100k debt? Big goals if that’s the case.
@@angelicavasquez3870 possibly a home I’d like to have a debt free home to pass on to my family once I’m gone.
What is your $100k college degree?
That is a great question. I have a whole video on my page which I actually tagged in this video or searching my page and it will give you all the details because it’s a lot more than what I can put until like once and it’s in this reply box.
@@TheRachelShow…Do you have a diploma? It’s printed on that. It’s really not a complicated question.
@@boatsie No need for the rudeness.
She literally said $85k of her $100k debt is from student loans. Stop being dumb and condescending. It’s none of your business what her degree is for.
@@boatsie well if you wanted to know, I had a diploma just ask that. Of course I have three diplomas.
These dave ramsey butt lickers are so so rude. But i do have to agree that you need to curb your spending a bit. My mom was also a single mom growing up and I wished shed fixed her spending habits sooner.
@@medioreblatherskite thanks for stopping by
Stay Positive 😮😊
@@shelbygreen3404 thank you 😊
to be real. you will never get out of debt. your spending habbits is crazy. you have no dicipline.
I can’t wait to prove you wrong 😊❤
@@TheRachelShow good. then ill send you $100 for your fruits & vegetables. ☺
Stay Positive 😮😊
You are in a tough spot. Good move setting up a UTUBE channel. Living on 50K take home while trying to meaningfully pay down debt(credit card portion) will not happen unless you do 2 things. Increase income(take on a 2nd part time job) and further tighten down your spending(no eating out or take out eating, no gift purchases, no new clothes, etc). Create an emergency cash fund of $1,000 out of these actions so you have some buffer. From what I have read your chances of having debt forgiveness for your student loans is good. There will be a light at the end of the tunnel which will not be a train coming to hit you:) It will not always be like this but now it is, so challenge your self to step up to the tasks that are ahead of you. Yes, I have subscribed to follow your future steps.
@@Steverino70 thanks for your encouragement
Good job on the $720 on the credit card! 🙌🏻 Question: What will you do if your student loans aren’t “forgiven”? When will you find out about that?
@@NobodySpecial509 this is a great question. What I’m hoping to do is once my credit cards are paid off save up a couple of thousand dollars and sometime in the meantime of all of that call a bankruptcy attorney that specializes in student loans to see if that’s even a possibility because the way this forgiveness thing is looking, the government keeps blocking it and I’m not even sure if that’s even gonna happen. So I’m gonna try to go to bankruptcy. I am waiting until the end of this year after I file taxes because most likely I’m gonna have to give them two years and I sold my house two years ago and so when my last returns has pretty good influx of money and I don’t want that to be brought up during any bankruptcy hearings because I use that to pay off my car and my other credit card last year
I am not an attorney, however I believe student loans cannot be forgiven in bankruptcy. Use the money so save up for a lawyer and put it toward your student loan. Also, if you lived in your house for two out of the five years you owned it, you do not have to pay capital gains taxes on it. I didn’t when I sold my house.
@@TheRachelShow Student loans can't be written off through bankruptcy so you are stuck with them.
@@fwlawrence8670 I believe you’re correct about the student loans in the US… at least it’s *very difficult*.
@@fwlawrence8670…she didn’t need to pay capital gains tax (up to $250K) on the sale of the house after 2 years, but the capital gains on the sale boosted her annual income during the year it was sold.