The way we remain basically debt free is to have the amount we charge already in the checking account or in cash then pay off the credit card pretty much within the week.
Honestly for me, looking up the interest rates and really seeing how much of my payments were going to interest was what lit a fire to get serious about this debt free journey. I was sickened see that some payments were a couple hundred $ and only a fraction of it was going to the principal!! 😳 I've been on my journey for a few years now. Excited to see your journey!!
I think I’m going to do that! I paid off all of the smaller cards and now I only have my discover and Home Depot left. They have similar balances so I think it would be helpful to see their interest rates. Thank you for your input!
With rate hikes I just looked at mine and jeez. Scary. Even one that was under 10% for years is now over 10%. So I will be checking them every month. Thank goodness my mortgage, car, and student loan are fixed.
Only 22 years old! That's wonderful news as it means you're diving in early and that can certainly change your life. Only 60k on a mortgage is great. You guys can easily clear all the debt in a couple years...for sure less than 4 years. Depending on income and how much you want to save as a starter emergency fund. Starting with the highest interest rate debt allows you to save more on interest accrued. Knowing the interest rates may deter you from letting balances roll over in the future. Your credit cards are small amounts. Once each card is paid off setup autopay so you will think twice if you can really afford things. Luckily you're only 22 so if you do get rid of a couple cards your account age can be low.
Thank you so much! I really need the encouragement! You’re right about the interest rates. I’m going to look into them. I was able to pay off a couple of the smaller cards since I posted the video so I’m feeling less overwhelmed by the numbers.
Just a small critique. Be aware of “uptalking.” It can be hard on the ears. Your message is just a little mixed up. You say the debt stresses you, but then are OK with having of it. Are you OK with debt or trying to get rid of it? That mixed message will be confusing going forward for viewers. Pick a lane of what you are focused on doing.
Pets can be expensive. After my oldest cat was diagnosed diabetic, between testing, insulin, medical supplies and diabetic formula food I spent well around $5000 in 2022 so far. Fortunately he is moving into remission so he is off insulin, but I have started saving since he will need surgery in February 2023. Short story, I set up savings account for my pets as they are all getting a bit older now.
Yes, they are so expensive! But they bring so much joy! I also recently started saving more aggressively for pet expenses as I have a lot of pets! I’m happy to hear that your guy is doing better!
@@mandysaves4924 I have been fortunate that my cat Liam has been doing well. Insulin is really expensive since it has to be paid out of pocket. He is 10 1/2 years old and was pretty healthy before that. I agree, pets are fantastic. I have 4 cats. Been taking in strays and ferals for 22 years. Can't do it anymore now that I am getting older. So my remaining 4 are my spoiled children 😀
Thanks for posting. You're $80,000 in debt. That's a mountain of debt. Drive your existing vehicle until it falls apart as you CAN'T afford to upgrade at this time. Once you've eliminated all your debt and can afford to buy a car with CASH, then do it. You're merely continuing the same debt behavior by buying a car you can't afford right now. In order to dig out of your considerable debt hole, you have to change your spending habits. If you don't do this, you'll never be debt free. Don't buy that car!!!!!
why do you accept that you will have a car payment for the rest of your life? Why not pay for a car you can afford in cash? Do you imagine wealthy people think like that? (hint: they don't)
Some people can’t afford to buy any car in cash. I would love to buy a car In cash one day and that’s definitely a goal to work towards. It feels unattainable at this time but you’re right that I shouldn’t accept that forever! I appreciate your input!
@@mandysaves4924 exactly. I'm not trying to shame you. All of us have limiting beliefs about ourselves (e.g. I'll never own my car outright, I'll never own a house without a mortgage, I'll never be in good shape). Sometimes it takes an outside observer to point them out.
When the debt goes away, you can afford to save up for big ticket items. You can learning saving is better than debting. You won't always have payments.
I have seen other debt situations and the first words of wisdom is to come clean with family and friends. People are only as sick as their secrets. It also gives people a heads up on why they are not spending and trying to keep up with others. We have debt and the debt comes first. We would love to .....but it is not in our budget right now.
I’m not sure what your income is but your debt is not that much. Using the Ramsey method these will be knocked out in no time. You are young and can do this. Hang onto that house as long as you can Don’t jump into a huge house payment that will put you into a lot of debt. Good luck. 🍀
New subbie here... if you have just $500, you can pay off the last 3 bills. The next $500 can pay off half of the $900 bill. Continue paying $500 to payoff. Your debt is sooo manageable! Good luck
The way we remain basically debt free is to have the amount we charge already in the checking account or in cash then pay off the credit card pretty much within the week.
Honestly for me, looking up the interest rates and really seeing how much of my payments were going to interest was what lit a fire to get serious about this debt free journey. I was sickened see that some payments were a couple hundred $ and only a fraction of it was going to the principal!! 😳 I've been on my journey for a few years now. Excited to see your journey!!
I think I’m going to do that! I paid off all of the smaller cards and now I only have my discover and Home Depot left. They have similar balances so I think it would be helpful to see their interest rates. Thank you for your input!
With rate hikes I just looked at mine and jeez. Scary. Even one that was under 10% for years is now over 10%. So I will be checking them every month. Thank goodness my mortgage, car, and student loan are fixed.
Pets aaaagh very expensive
Only 22 years old! That's wonderful news as it means you're diving in early and that can certainly change your life. Only 60k on a mortgage is great. You guys can easily clear all the debt in a couple years...for sure less than 4 years. Depending on income and how much you want to save as a starter emergency fund.
Starting with the highest interest rate debt allows you to save more on interest accrued. Knowing the interest rates may deter you from letting balances roll over in the future. Your credit cards are small amounts. Once each card is paid off setup autopay so you will think twice if you can really afford things. Luckily you're only 22 so if you do get rid of a couple cards your account age can be low.
Thank you so much! I really need the encouragement! You’re right about the interest rates. I’m going to look into them. I was able to pay off a couple of the smaller cards since I posted the video so I’m feeling less overwhelmed by the numbers.
Hi Mandy, new subbie here. I love the stories of the beginning journeys. I will be following your story. Thank you for sharing.
Thank you! Im glad you’re here!
Hey girl, welcome to the community! And welcome to cash stuffing! It’s the best 😊
Thank you! So happy to be here!
New subscriber here, great channel and keep it up, best wishes on your debt free journey you got this 💪🏽💯
Thank you!!!
people need to learn to take on 1 debt at a time, not try and tackle multiple debt honestly.
That’s what I’m working on! I just paid off those three small balances so I am working on the “smallest” big one now! Thank you!
Thank you for sharing .., I’m in debt to I’m bout to start my debt free journey
You got this!!
Just a small critique. Be aware of “uptalking.” It can be hard on the ears.
Your message is just a little mixed up. You say the debt stresses you, but then are OK with having of it. Are you OK with debt or trying to get rid of it? That mixed message will be confusing going forward for viewers. Pick a lane of what you are focused on doing.
Pets can be expensive. After my oldest cat was diagnosed diabetic, between testing, insulin, medical supplies and diabetic formula food I spent well around $5000 in 2022 so far. Fortunately he is moving into remission so he is off insulin, but I have started saving since he will need surgery in February 2023. Short story, I set up savings account for my pets as they are all getting a bit older now.
Yes, they are so expensive! But they bring so much joy! I also recently started saving more aggressively for pet expenses as I have a lot of pets! I’m happy to hear that your guy is doing better!
@@mandysaves4924 I have been fortunate that my cat Liam has been doing well. Insulin is really expensive since it has to be paid out of pocket. He is 10 1/2 years old and was pretty healthy before that. I agree, pets are fantastic. I have 4 cats. Been taking in strays and ferals for 22 years. Can't do it anymore now that I am getting older. So my remaining 4 are my spoiled children 😀
Thats why I dont have pets.
Thanks for posting. You're $80,000 in debt. That's a mountain of debt. Drive your existing vehicle until it falls apart as you CAN'T afford to upgrade at this time. Once you've eliminated all your debt and can afford to buy a car with CASH, then do it. You're merely continuing the same debt behavior by buying a car you can't afford right now. In order to dig out of your considerable debt hole, you have to change your spending habits. If you don't do this, you'll never be debt free. Don't buy that car!!!!!
why do you accept that you will have a car payment for the rest of your life? Why not pay for a car you can afford in cash? Do you imagine wealthy people think like that? (hint: they don't)
Some people can’t afford to buy any car in cash. I would love to buy a car In cash one day and that’s definitely a goal to work towards. It feels unattainable at this time but you’re right that I shouldn’t accept that forever! I appreciate your input!
@@mandysaves4924 exactly. I'm not trying to shame you. All of us have limiting beliefs about ourselves (e.g. I'll never own my car outright, I'll never own a house without a mortgage, I'll never be in good shape). Sometimes it takes an outside observer to point them out.
@@user56gghtf thank you! I appreciate all the different perspectives on this and that’s why I wanted to start this channel!
When the debt goes away, you can afford to save up for big ticket items. You can learning saving is better than debting. You won't always have payments.
I have seen other debt situations and the first words of wisdom is to come clean with family and friends. People are only as sick as their secrets. It also gives people a heads up on why they are not spending and trying to keep up with others. We have debt and the debt comes first. We would love to .....but it is not in our budget right now.
New subbie and also recently started my budgeting channel :) you’re doing great!!
Thank you!!! :)
new subscriber here i'll be watching your journey. i'm just starting out. good luck x
You are in good shape though
I know you think it's a lot. But it's a home and car and yes your wedding loan yikes. But great job
Thank you!
Nice job it gets easier the more you do. If you want to add the interest on the balances that can be interesting to see.
Thank you! I appreciate the feedback!
The Rogue is nice! Keep the Rogue and pay off the mortgage. You guys are doing great.
We actually just decided to do that! Thank you!
I’m not sure what your income is but your debt is not that much. Using the Ramsey method these will be knocked out in no time. You are young and can do this. Hang onto that house as long as you can Don’t jump into a huge house payment that will put you into a lot of debt. Good luck. 🍀
Thank you!
you're only 22, so start investing your money, you'll retire a multimillionaire
I do have some money invested and always adding what I can! 🤩 thank you!
See what your interest rate would be on a HELOC could pay off everything but your house you could knock that HELOC loan out if you are disciplined
New subbie here... if you have just $500, you can pay off the last 3 bills. The next $500 can pay off half of the $900 bill. Continue paying $500 to payoff. Your debt is sooo manageable! Good luck
Hi Amanda!
Hi!! 💕
Great video! You got this
Looking at 80,000 is a lot but all your totals are low. Thanks for sharing I know you can knock it out.
Thank you so much!
❤
Hey Mandy! New subbie! You got this! 🎉
Thank you!! 💕
Hi there Ms. Mandy. New subscriber here. Just take it one debt at a time. Everything else will fall in place.
Thank you so much!