I've MAXED OUT 12 Credit Cards! | Budget Bestie Ep18 | Budget with Ira
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- Опубліковано 21 лип 2024
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I think they have to realise they can't have everything! They can't have the latest gadgets holidays etc and clear their debt at the same time. If they've got this much debt, they probably can't afford the life they want to live. They need to think about why they think they need the latest gadgets and holidays - they need to prioritise their life better on what is most important out of those things. Brave for putting it all out there though, well done!
These are my absolute favourite videos to watch, i just wish we got an update further down the line to say if any of these people took your advice and where they are finance wise!
You can’t have everything in life. Every subscription, the latest tech, two holidays per year, clear all the existing debt without incurring more AND save for a property, as well as retirement abroad? Something has to give! The truth is most people have to sacrifice to realise their goals and dreams. Give up some trimmings now to achieve a brighter future. It’s hard with teenagers who want everything NOW. But bringing them into the budgeting process and learning the power of the word ‘NO’ will be tremendously helpful. Good luck and best wishes! 🧡
Perhaps they need to sit down with their teenagers and show them how much debt they are in?? Then, they can have a rational family discussion about which subscriptions to cut? I did this when my boys were 16 and 13 and wanting everything (including fashion clothing). They are doing their children no favours by letting them believe that this inflated life style is viable. What happens if one of them looses their job, for example? You are so kind in the way handle these difficult budgets, Ira, bless you and thank you, for another insightful video.
Love these types of videos. I love the way you set out the debt repayment and I have never seen it set out quite like this before. So helpful and you made it feel achievable. Well done and thank you for your content and helping everyone
You always approach these budgets with such kindness. I think the plan you have put in place seems great and I just shows how the snowball can really help to clear debt more quickly.
It was interesting to hear that you don't count car finance as a 'debt' though? I see a lot of people class it as a cost of living, just like rent or mortgage nowadays.
💛Love all your budget besties. With a little thought and what's important, making some changes can achieve goals.
With this budget what about fuel and as you say maybe missing a few spending habits.
Where is your amazing t-shirt from? ❤
Hi ira found this so interesting, shows how little changes can make a big difference 😅👍🏻
another great vid! LOVE this series!
Love the Budget Bestie series. 💛💛💛
Love the shirt❤ Great video as always
Loving the T-shirt 😍 what an amazing video this is so good advice 💗💙💗
Hey hey Ira!! So excited to catch up with you this morning!
There was no mention of pocket money for the children or if they have a part time job. If they have a part time job and would like to keep some of the subscriptions such as netflix or spotify I would have the conversation with them. If they have a part time job and these are important to them they could easily pay for netflix.
I would also reduce the house savings to 50 and start an emergency fund with the other 50. With the focus on paying debt off if something breaks in the house, such as the washer they will end up putting it on a credit card or loan. If they save 50 a month they will have 600 by then end of the year. It is not a lot but would pay for a few appliances that break or tyres for the car.
That must be a nightmare trying to keep track of payment due dates, balances. I can see where the trim needs to be applied though, as others have said you can't have the best of both worlds without knuckling down. 🧡🧡🧡
If they can get their money back from that later vacation, they need to cancel it. One is enough. They’re broker than broke and they can’t afford it.
I will do the same if it's in my shoes.
Best comment and simply the truth!
Love your shirt
Obviously, there is also the avalanche method too, that could've been worth mentioning. But otherwise looks good.
🧡💛 I can't remember what colour you did 😂
They will lose 600 after 10 months though so might take longer
Ahh just got to where u address that! 😂
Are any of these debts on 0% interest cards? Or are they paying interest on them? Might be an option to move to an 0% to get some breathing space then start snowballing the debt. Another option is to snowball the cards they're paying the highest interest on first.
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Oh no...what a nightmare!!!!😮
Great video. That’s a lot of subscriptions. when I first started my budgeting journey I found out that I was paying for a lot of subscriptions that I didn’t even use it was crazy. They definitely need to get all those credit cards payed off and they will be a lot better off. Hopefully the husband will be able to do some overtime and they could put all the overtime on the debts to get them paid off sooner. 💛
Get rid of the car and get a cheaper owned outright second hand car. Attack the loans the same way.
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My debt is currently nearly $23,500 😣
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Good video. I think cutting back on subscriptions can significantly help ease the budget and the debt snowball will allow them some easy wins and to gain momentum. They need to get rid of those credit cards so they aren't tempted to spend on them again.💛
That looks like a good plan.🤎
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