This Is The Fastest Way To Get Out Of Debt!
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- Опубліковано 1 бер 2023
- This Is The Fastest Way To Get Out Of Debt!
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"Sell so much stuff, the kids think they're next." Lol
😂😂😂
⁉️🏃💨
Funny af lmfao but its real lol
😂😂😂
🤣🤣🤣🤣🤣🤣
I’m 2.5 months away from being debt free! Only $8000 left in my student loans!
Edit: I made my last payment this morning! Whooooo! I am now debt free!!! There is light at the end of the tunnel!!! Keep going guys!
good shit man, 1.5 months left now
@@misterdeluxia5948 thank you!! actually even less! I split and sold a bunch of wood and made $2000. only $3000 left to pay off!
Wow thats amazing im right behide u
Nice - I hope you’re still young… your greatest asset for money generation is TIME
@@YT_Watchers I’m 21, my goal is to pay it off before the new year, it’s going to be close
paid off my debt yesterday. life is good.
Congratulations!!!
gratz
Congratulations. 🎉🎊👍😊
I got out of debt 2 years ago with Dave Ramsey Baby Steps.
Life is good, feels wonderful not owing anyone anything.
@@MajesticMe429what is that? I hear so much and I’d like to get out of debt.
Congratulations!!! Feels good 👍
Let me translate, stop eating out. No more Starbucks.
😅😅😅 exactly , Doordash is expensive af
The grocery store isn’t any kinder these days.
@@philmcrackinnow Still way kinder than restaurants
Eat only what you need. Skip snacks and any extras. Don’t treat yourself even at home. Old school that food. Cool in bulk
@@jdwar11 I allow myself two indulgences a week. A lunch on Friday and treat on Sunday. Both under $10
We did it. It works. I retired a little over a year ago with ZERO debt.
and zero saved retirement funds in the bank
@dardallas7465 WRONG.
@@dardallas7465More like a few million!
Who wants to retire. A person needs purpose. I will run these companies until the day I die
I’m lost… is he advising to pay the largest debt first or the debt that has the least. For example I have two credit cards that are maxed… one is 15k and the other is 20k… do I tackle the 20k or the 15k first?
I did this, 18 months eating ramen and working and paying debt. I am a free man now. You can do it too.
I’d have a heart attack eating that much sodium.
Try going vegetarian next time lol
Thanks for your motivation. I'll try it
@@patrickschramm7I like to use plain ramen or put in very little of those soup base and use it for other seasonings. I even know of some Russians whon love those fire hot chicken buldak and would dilute its spiciness by mixing in some canned beats, sour cream, and some green shallots.
@@patrickschramm7 You don’t have heart attacks from eating a lot of sodium. Good lord.
Thank you Dave. We became debt free 14 years ago with your plan. It’s awesome.
yes, the pain is effective & worth it!
“Pay off debt”
He obviously came up with the idea lol
He didn't come up w the idea, but he is enthusiastic about and encouraging.
Helped us, love it.
@@spconrad9612great response to an unnecessarily snarky comment.
Followed most advise, especially paying cash. Don't have the money? You can't afford it!. Got out of debt in 3yrs
I stopped ordering food. I stop saying yes every weekend to going out. (I try to do every other weekend now). I meal prep at home. And I stopped the quick trips in the gas station. Thousands saved. 25years old
I'd be willing to bet that among people who do things like doordash their Taco Bell, 80% will die broke. I pride myself on being cheap. I've ordered pizza for delivery maybe twice in the last ten years.
@@GDuncan8002😂 I am on the other side of that. I do Doordash to get money on the side. I don't order.
“We’re gettin outta DAAAAAAT” 😂
LOOOOOOOOOOL
😂😂😂😂😂😂 hilarious
I love it lol
😂😂
😂
Yesterday I put $300+ towards my debt payment and it feels good to see the balance go down. One of my biggest money savers will be meal prep and freezing storing extra leftovers to have food on hand, so I can have meals readily available and only need to buy small things that run out. Also, I can pick up more overtime at my job to earn extra income and with a new raise I got at work that will help out substantially 🎉
Good on you. Keep it up. I'm scared of buying a house cuz i don't want debt around my neck
I need to start freezing my meals. I know that would save me so much time and money!
I followed this after a financially devastating marriage and it works. You feel so empowered when you pay that first one off! The one downside was that the credit card company would never raise my credit limit past $500 even after I paid them in full and had been with them for almost 30 years. So I switched to one that would give me a higher limit and I have paid off my monthly balance for the past 10 years. I was also able to retire at age 58. Thank you Mr. Ramsey
Cut it up
@@ImranAhmed-cy3os Exactly what Dave would tell her.
Damn right Dave ,I did that for 42 years ! Paid thriple payments on my ranch rentals which destroyed the loans in half the time ! Was able to then pay off my personal home loan with money earned ! I say Dave , anyone can do it ! It's not easy but discipline and consistency is EVERYTHING ! I earned an average American wage and am today very financially comfortable ! Most important thing that came to me was the fact , I no longer have any stress and am happy ! Again ,anyone can do it if they want it enough ! Today , I give thousands of dollars to my grandchildren and find the greatest satisfaction in helping them because I see them really struggling and trying so hard ! If they weren't trying , I wouldn't give them any money ,right ? I give them a hand up ,not a handout ! MY LIFE IS NOT ONLY SATISFYING AND STRESS -FREE BUT I AM. HAPPY !
Eat at home, make your own coffee, pack your own lunch, get rid of cable, drive your old car as long as possible and debt stack like the man said. Pay off the debt like your kids life depends on it. It will amaze you.
ZtI’m yxI don’t b
I got the second job and got myself out of debt (besides my house). Best feeling.
It was funny when he said "they shaved their head" lol I just did that a few days ago
Amazing. “THIS IS HOW I GOT RICH”
The first step to attaining wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon.
Get to her
*Advisor Elizabeth Greena*
It's like exercise. It's tough and painful sometimes to get through it. But if you push yourself with enough time, drive, and intellect, it's possible to get to places you never thought you could.
I did this & I've been Debt Free for 2 years.
Dave Ramsey is Awesome.
It Works if you Work it !!!!!!
Thanks Dave.
👍😊
Worked for us and took 14 months. It’s a small price to pay for freedom. Money worries are a thing of the past.
The last line 🔥
Take 16 extra jobs….ok
I paid off my house 10 years early.
What is your mortgage rate? From what I learned, if it is low, investing is better than paying early
@@QuanHoang2x01 Not right now it's not. Current mortgage rates are 6-8%. On average the market gives you 7-9%. Plus when you figure in risk factor of losing job, getting sick etc. it's always better to pay off mortgage.
@@QuanHoang2x01idk is investing $200 a month to collect a few dollars of interest good?
or is it better to pay off a house that has interest of $500 a month eating away every month?
oh but compounding over years... yeah yeah. i guess you didn't invest during covid and still down 30%
@@QuanHoang2x01nothing is better than not bleeding a mortgage every month.
@@QuanHoang2x01 Dave says all the time to stop investing until your debt is paid off.
When u don’t wanna hear what u need to hear Dave Ramsey is your man
I set up a little coffee shop/book store in my basement so I would stop going to Starbucks and bookstores. I cancelled my gym membership and workout at home. I shop at thrift stores and drive auction-bought cars. My kids went to community college and got scholarships to the local, state university. They're also working whilst going to school. I don't have any credit card debt, no car debt and, am chipping away at my student loans and mortgage. In my opinion, "leaders" of this society are against the middle-class. However, ALL we can do is exercise financial discipline. Debt is modern-day indentured servitude. Thanks, Mr.Ramsey. This was VERY inspirational! God bless you, sir!🙂👍🏽👋🏽👨🏽⚕️
Indeed it does! The Debt Snowball really WORKS!
It worked for me. I’m doing great now.
Same here, pay cash now!
How did you do it?
@@nevinkuser9892 the snowball method! I did it too
My daughter did this to pay back $90,000 in student loan debt.
She wanted it gone in 24 months. But she worked so hard, so many extra hours outside her full-time job, that we jumped in to start whittling away her $20k loan (the big one) from the other end. I was so proud of her. 9 months later- debt-free! It’s amazing if you “attack with a vengeance”.
I have 10 credit cards and I have paid off 5 since November 2023 I’ve been following this religiously! I can’t wait to be debt free
I lived off of one paycheck and banked the second check. Debt free... feels so good.
Moved to cheaper area, bought 4 yr old car... doubled up on the payment for 2 yrs. No new clothes or shoes. No movies, fixed myself. Used library for books, magazines, DVDs. No gym... workouts at home. Focus on what you can do .. not what you can't.
At the end you feel brilliant.
I'm a young teenager, my parents have been doing the Dave Ramsey program for a while now and they have been very open about finances and have taught me and my siblings soooo much!! I'm putting half of the money that I make from my job into college and whatever is leftover I'm putting in CDs (just because why not? I don't like to spend a lot of money so it's not like I'll use it anytime soon!😂). I have a a few thousand in a high yield savings account which I put almost all of it in CDs. I'm also going to go to college without student loans.
The US Congress needs to hear this
Will they? You remember the damned known as el coronavirus during the last three years?
They live with your money, they don't care about your money, they stole you through monetary inflation
We completed the debt snowball approach in 2016. Thank you, Jesus.
Not jesus, you did it.
I think his name is Dave Ramsay.
Thank Dave. And don’t forget to thank yourself and give yourself credit for doing all the hard work.
Only was in debt once: never again!
Can't be in debt if you never plan on paying back
@@tubeguy4066POV: you don’t know what credit score is
@@tubeguy4066😂
3x😢
Absolutely. i did this instinctively before discovering Dave Ramsey. Best way to go. It took me 12 months.
Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
Do you mind sharing info on the adviser who
assisted you? I'm 39 now and would love to
grow my portfolio and plan my retirement
She's OLIVIA SULLIVAN FINANCIALS
she's a known advisor. I actually did look her up curiously and went through her credentials on her webbsite... Top-notch! I wrote her an email, hopefully she's accepting new intakes.
I'm definitely gonna check her out. Do yo have any idea if she manages family fund?
You gotta get the hell out of debt in this economy. Interest rates are high
Debt free including the house 3 years ago. I hate owing people. thank you Dave!
Yah been doing that for the past year and that really works so well killed.of 3 credit cards in 1 year that way. Still not there , but getting there slowly but surely .
I got myself into it, I'll get myself out of it one way or the other 😅
Now ,keep it a life-style ! You'll be much happier ! I've been there for the last five years and am happy !
Yes! You follow Dave's plan and you'll "be free"!!!
My exwife bought all of the DR books and materials and even signed me up for a local DR seminar. I read and attended and come home with the game plan to pull us out of debt complete in 36 months with discipline. She never got on board with it and we lingered for years pushing the elephant up the hill until our divorce.
It’s a team effort for sure, God bless you
That’s absolutely awful. 😢 someone told me recently “if I took my own advice I’d be perfect” then laughed. I was like … 😒 🤷🏾♂️ 🤯 yeah.
Sorry to hear. Hope it all works out for you.
I totally agree!!! We were oppressed financially, we worked hard , set on the side , something happened all the time and we loose the money. One night God told me while l was in season of prayer and fasting, the word” devourer” . To make the story short, l prayed and fast , than renounce the generational devourer spirit , in my blood line , l read a book about fasting afterwards and l saw in the Bible, the “devourer” , since than we are more stable, and we never made that good money wise , the devil likes to work in secret , he won’t tell you how to fight against financial attacks, but sometimes we have to fight spiritually to .
Ahhhh I've been doing the avalanche not the snowball!!! 7 days a week. House 2 years from being paid off only 34
Somtimes you fall off the wagon, me right now, started spending more than I made after being Dave 100% for 2-3 years in college. Managed to pay off school debt, work harder than ever, increase my income. Then bam, 4K on a credit card and another 2k on another. Currently working the steps again to get myself out. Thank you Dave, you popped up at the best time for me again! I’m almost done with 2 out of the 3 credit cards and movin on past them!
it's so easy to do when the mind is clear.
"Out of DAT" lol I miss the older Dave videos
Truth! Lol.
I'm Debt free at 29, house payed for, car payed for, no CC debt. Invest 75% of my income. My best mentor was my Great Grandfather, he lived through the Great Depression. Live within your means.
You don’t invest 75% of your income. And if you do, your quality of life is terrible. These comments are pathetic. Your house also isn’t paid off at 29.
@@j.p.s.2233 Why not?? Pessimistic much?? If one makes 100k and has no payments for anything, you could easily live off 25k and invest the rest. Also I hear stories all time of young people paying off their house. All it takes is absolute dedication, something you apparently know nothing about.
How do you invest 75% of your income?
This year, 60% in EPGAX, 20% in Gold, 20% in savings. @@janetmccoy7945
@@j.p.s.2233 You can't tell him what he has paid or not paid off. If his grandpa was advising he could have been saving for a long time. It's not impossible to have a house paid off at 29. Especially if he bought a modest home and not one that he couldn't afford.
You can do this. I did this in 2013 and succeeded. I made 56k, had two mortgages, two car payments and 8k in CC debt. In 14 months I paid off 42k in consumer debt and haven’t been in debt since (other than the house). I don’t have high blood pressure anymore. Thank you Dave Ramsey, and remember…The only way to financial peace, is through the Prince of Peace, Christ Jesus.
I completely embraced this advice! And now I have a clean slate and guess what? I’m not about to restart a mess by going and spending unnecessarily. No, sir!
I made the mistake of falling back into bad habits after being out. Trust me, you're very correct in saying "never again!"
To be honest, I realized I spent more when I felt lonely, sad and losing control. The spending was to fill up a void. I literally have to “slap” my face everytime I feel the urge to shop.
I feel ya. I just told my financial advisor the other day, now that I have the money in the bank, I don't want to spend it. I don't ever want to go back to constant worrying about money
This is the best method ever. But please don’t be tempted to use debt again you must learn to pay with cash!!! Honestly best method. Hard but you can do it!
Its hard to pay with cash these days when everything online
@@niall1437 I think what they are meaning is, once you're out of debt do not buy anything unless you have the money (cash) .I still pay for things online but directly from my money... Not a credit card
You have “cash” in your bank account 🤦🏻♀️ lol it just means don’t take out credit card debt or loans
This works. The hard part is getting the reluctant spouse to follow through. I'm so close but my biggest obstacle is my spouse.
Been 12yrs since I finished, took me about 2yrs.
Never went back to debt, completely changed the course of my life. Will always be grateful to Dave and his team.
I did this. Left my marriage twice with the debt, unemployable disabled, paid it all and the mortgage, kids never knew till I saw the cards coming for them in highschool. And educated them ..
So practical, no castles in the air. Thank you
My debt makes me AAAANGRY. And when I get angry, things get done. Thanks for the continued motivation
Truly changed me and my husband's lives, for the best! I could only get 1 of my friends to follow along. Not ironically, she is the only friend I have who has also bought a house and lifted her family out of dire poverty! All of my other friends think we're nuts and struggle paycheck to paycheck!
Because I was taught the value of money as a young teen, I have never had debt. If you can't afford it, don't buy it unless it is an absolute necessity.
In the hood that’s called “going ham”. It means you go at it like it stole something from you, because in this case you’re stealing from yourself. STOP THAT!!!
Years ago I watched a talk show about people so far in debt they couldn't wiggle. They started driving semi the only thing owned was what fit in the truck they survived and achieved it. Another one I think she may of lost everything thru a divorce she drove semi slept in her van she succeeded.
Dave, you’re the father all of us need. Thank you for your wisdom!
We did exactly what you said. 60k worth of debt. Took 3 years of hell. We are DONE!!! We are debt free! Thank you!
Why is this better than consolidation? Its psychological.
Because you're paying off and not moving around.
I drank toilet water, and lived on field grass, and tree bark for over 2 years, but I'm debt free now, 75lbs lighter👍
Lmaoooooooo 😂😂😂
🤮
😂😂😂.
Oh deer 🦌 You became one😅
@@douglasgrant8315 Best comment ever!😂😂😂
My brother listened to Dave. He told me to listen to him, and sure enough, I am out of credit debt. 50,000 of loans and cards I am free now all the money. I am now attacking my mortgage and getting more into the principle. I am almost done to all I owe is 29,000 left on my mortgage. I am super excited. Thank you, Dave for helping me and understanding financial situation better.
This works, people! Doing it will make you a more disciplined person/family too! Do it!
Very practical and basic principle. We can start the snowball impact right now and start getting ouselves out of debt. Thanks Dave...
Amen Dave!!!!!
I took 2 highly paid remote IT jobs in a 2nd world country with USA salaries and I paid off my house mortgage in 1 year plus 2 cars.
I went with the debt avalanche. Basically you throw everything you've got at the debt with the highest interest rate and work your way down. Was out of debt in about the same amount of time having spent the least amount of money.
He’s absolutely right. I did it. I have zero debt now. I never thought it would be possible but it does work if you do the work.
Love hearing these shorts while on the baby steps, help stay focused!
You got it Jim!!! It's worth it!
My wife and I did the debt snowball. We were completely out of debt in 40 months. Including the house!!
I did that right before getting divorced. I paid off all of my debt and was able to pay everything off and leave and be able to live without husband.
On that mission as we speak!!
Same here. Great help!!!
Got it. My mine is clear snd focused.
Super! Go, go, go... freedom and peace are within your reach 👍👍👍
I am paying the only one with interest and then pay off the no interest ones
Debt avalanche
I hope those 'no interest' ones are not the ones that will change into interest bearing if you are late or don't pay it in time!
Bingo. We did this 16 years ago when our first child was born. I cannot tell you how much peace financial freedom gives me. Thank you Dave Ramsey, and eternally grateful my Pop told me about you.
Studies in a govt university- (almost 3000$ for 3 years)
Got a job for 25000$ per annum
No debt- will never get into one
The dollar values are for reference- I spent and earn in INR.
Prayers 🙏🙏🙏
It works. There's a psychological benefit as you begin to see more and more paid off accounts 🎉
It works!!!
Funny thing is I figured it out on my own. Long before seeing any of Dave's stuff.
So glad to hear from him that I did it right.
Got divorced and took 1 year to get back on my feet. Another year to save up enough to put a down payment on a new house that was under construction. Added more to my down payment as the house was under construction for 6 months.
Moved in with a first and second on the loan. One year later refied the loan and ended up with a reasonable house payment.
Didn't buy anything I didn't need. No new TV and a house full of furniture. Bought used washer and dryer and a good deal for a fridge.
My life got on track and met a lady that has the same ideas on fiscal goals.
Keep your head up and keep moving forward. You'll get there.
It works! I did it and it works! Best decision I ever made.
My new Pastor lol Preach Dave!
I walked through the deep debt fire. Been debt free a long time now. Feels very very good. I’m almost too debt adverse now.
This show completely changed my life and view points on money. Just got done paying off my 3rd “smallest debt” in a row….. this rolling snowball brought me more joy over the last couple months than any material item ever gave me.
We graduated from Financial Peace University 20 years ago and we owe nothing. We love you Dave!
I quit Red Bulls was drinking 4 - 8oz cans a day , one of the hardest habits to brake
Attack the smallest debt with VENGEANCE. Chills 🥶
I did this for about four years and it absolutely got me out of debt and saved my life!
Another option…find a man who pays everything off for you…
Love love the debt snowball ❤❤❤
I did this and I am completely out of debt. Praise God.
That's what I did. Credit card debt gone in 3 months ($6k). Student loan is next and will be paid in 5 months ($16k) then the truck in another 7 months ($29k). That's $51k in less than 24 months. Plus saving at least $50 every other week. By the time I retire at 67 in 3 years I'll be debt free and have $36k in savings.
I never understood why it’s the smallest debt, at least assuming we’re just talking about the principal. Why wouldn’t the highest interest debt be priority one? Wouldn’t that minimize the total amount you will end up having to pay over time?
It's because it gives you a feeling of accomplishment sooner, and you're more likely to continue with momentum.
It's also possible that the highest interest debt "might" also happen to be the smallest debt, in some cases.
@@probuilder961 I see, so human psychology. But if we were doing it strictly based on what is optimal for retaining the most money then what I’m saying makes sense, right? If smallest debt first is suggested because you’re more likely to stick with it then fine, but hypothetically assuming that whatever plan you make will be carried out to the end, this would save more money, even if it’s marginal in the big picture.
@@KufLMAO Correct, but do keep in mind that the people that need the advice are ones with the worst financial discipline and knowledge. Instead of making them have slow and invisible progress making it obvious and rewarding brings more results since they will learn to be disciplined.
@@KufLMAO if you really cared about saving money you wouldn’t be in consumer debt in the first place. The principal you are referring to is debt avalanche.
Worked like a charm! Thanks, Dave!😃👍🏽
I did something similar to that years ago. I adjusted it slightly. There was one debt I was very close to paying off where the payment was one of the higher ones. I calculated I wouldn't pay it off as fast as the smallest one. But it freed up so much cash in a short amount of time. Tackling the other debts was a cake walk. I tried different pay off scenarios. It oddly wasn't the approach that saved me the most money. It wasn't the one that made my portfolio look better. But it ended up being the one that got me out of debt faster. Several months. It was great. I'll never forget that debt free feeling 😁😁😁
This is something that I actually thought of myself for getting away from the financial mistakes I made when I first started making what I considered to be grown up money. My insurance agent is a financial advisor, and he said that wasn't the way to go about it. He said I should be focusing on the debts with the higher interest rates first, but this really does make sense, because every time you knock out one of those little debts, first you get that sense of accomplishment, by making one of those debts go away, which is very motivating and helps you keep the momentum, and, second, every time you make a debt go away, you now have more capital to throw at those larger debts, which makes them easier to tackle. I don't know why I let myself get pulled away from this.
Loved 16 extra jobs!
It works. I am out of doubt.
Dave Ramsey is the ONLY money man I trust! This debt Snowball WORKS!! But something else to remember: once you GET out of debt, you have to remain vigilant to STAY out of debt.
I don't agree with everything Dave says, but this is the best advice I've ever received, works like a charm, the ball and chain are gone forever! Thanks Dave!
Bingo. This advice works, but it's not painless. It hurts. But it can be done. It takes focus and the ability to accept delayed gratification. We did it.....more than once.
Yup. I’m debt free 🎉🎉🎉
Imagine the feeling of seeing all those smaller debt amounts disappearing one after the other.
VERY wise words. - Don't be afraid to adopt this policy. - I have - more than once - and it's a hugely rewarding achievement.
I did this the last year or so, I’d say I have about another year left with my last few higher debts, but I’m so proud of dropping the debts I did and moving forward where I can.
Highest interest first is probably the most efficient way instead of lowest balance.
It's because it gives you a feeling of accomplishment sooner, and you're more likely to continue with momentum.
Mathematically, yes. But if you’ve been mired in debt, you need wins, you need momentum.
The other thing the snowball method (and all the baby steps for that matter) does is it puts you in the best possible situation at any given time. By paying the smallest debt, you reduce the minimum required monthly payment on all your debt. Whereas with the avalanche method (highest interest rate first), your required minimum payments may be the same for some time.