My Debt Confession | Debt Free Journey | Real Numbers
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- Опубліковано 15 чер 2024
- Join me as I confess my debt and put it on paper!
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Regarding the car: "It's done, it's there."
Actually, no it isn't. Sell that thing. It's killing you.
63k for a car is insane.
It is scary to see the amount of debt. Just remember the freedom you felt before. You got this! You can do it again.
Selling the car would be a good head start! 70k minus 342k would bring you down to 272k. Also another reason your debt might have not gone down much from paying 5k may be a result of still spending on your cards. Hope you get out!
I was admiring your nails and i totally thought you got them done at a nail salon you did a great job!! You'll get the debt paid off half the battle is acknowledging it, you got this!!!
First, proud of you for making the small change of doing your nails at home. Woo! I know it seems like such a small thing but it definitely adds up over time. Second, I would take a serious look at the custom car and re-evaluate if it needs to be in your life or not. I know it sucks since you just purchased it but that is a HUGE debt that extends your journey to being debt-free significantly. Since it is custom, I'm assuming it will have high maintenance expenses as well in the future which will also drag you down.
As your mortgage rate is very low I would definitely only pay the minimum on that right now and focus all remaining $$ toward the debt. Like others, I honestly wouldn't consider it a debt at this point since high-interest debt and retirement funding needs to be handled first. Cheering you on!!
For the student loans, you need to break out that figure between Federal and private student loans and focus on private first because they almost always a higher interest rate & fees than the Federal.
I get paying off medical debt in full, but that is usually the only debt that you could have a good payment plan for, more importantly - interest free vs. a cc where you’re getting hit with 30% interest 😰 I def would prioritize the IRS debt too! But it seems like good progress has been made with it. You got this!
Selling the stupid car and buying a cheaper $10,000 car will help alot.
I thank you for being so transparent and helpful. I’m paying off my 100K Debt on one income and watching your channel has kept my momentum going to knock these things out. ❤ thank you !
Interest is killing you, yes. If you're able to make about 5k a month in payments, I'd definitely look and see if you qualify for a credit union in your city. Often you can refinance your car for a lower interest rate and have a lower monthly payment. Literally throw every single cent you have against the 29.99% interest rate debt. Then go for the 15% one. If you can do a consolidation loan or balance transfer that would be ideal. All just depends on your credit and income. You can do it! You've got the tenacity, it's clear - just need more information on how to deal with it all effectively and efficiently. Being spenders is so hard - we have to retrain ourselves.
your doing great Janet DO NOT GIVE UP.! "WE PAY A PRICE TO WIN AT THE END," says David Ramsey.
New subscriber here. Thanks for being so transparent about your debt. I’m here for the motivation. You got this!
New subscriber! Thanks for sharing because I know many people can relate. This is your first step to change and I will be rooting for you!
I don’t count my mortgage because #1 it’s overwhelming to look at that number as a total and #2 I could sell my house and that debt would be gone- no other debt could I sell and make money off of it lol
I look forward to following your journey. Enjoy all the lovely things you have now, knowing you don't need anything else.
Hey! Thanks for sharing your debt story with us again. Just so you know, you do not have to accept credit limit increases on your card - especially if you aren't paying off the balance every month yet.
Good luck on your debt-free journey!
Very brave of you to do a debt confession again. Well done on making so many changes to your life style such as reduced pedicures and own manicures! Looking forward to seeing your debt decrease on this incredible journey you are embarking on. Much more focused video too this time! Would have loved to see darker pen used on figures for ease of viewing. All the best from England!
This is so brave of you im here supporting you your going to make it thru this ❤
I know it is not easy to share our debt but it's the beginning of everything to tackle it, great debt confession video 👍
It’s ok to have to start again especially when paying off debt. Looks like you are cutting back wherever possible so that’s a good thing. Interest rates really do take a huge chunk of the payments. Looking forward to following your debt pay off journey.
Kuddos to you for making changes to better your family and situation! I am doing the same thing right now. But, Girl, cut your personal spending and throw that money at the debt… short term pain for long term gain!
Older video but new subscriber!
Dave Ramsey states cars that are draining your bank account should be sold ! 63K for a vehicle is stupid money! Consolidating debt is also crazy, you will be charged more interest for the privillage, yeah the monthly cost might be lower but you'll be paying it for longer!!
All refinancing is known for is called " Moving Debt around- I would say keep doing what your doing- your doing great and your smart.
New subscriber. Happy to find your channel ❤ Exciting to see you making progress.
Could you please use a darker ink 🖊️ next time 😊
We got this 💪
Great job on your video!
Also on the debt numbers since you are counting the payment on your mortgage- don’t forget a portion of that payment is going to your escrow account so that’s going to make your numbers look worse than they really are
Setting your playlist up to run tonight.
Hi- new subscriber here💕
First and foremost yay you for being able to share your finances on the internet and create a plan to attack your debt.
Just some positivity Comments are just those, only you know why you made the decision you did & you can’t go back in time but are making a plan to tackle it which is great 🎉
I can definitely understand with the nesting & new baby. When we had our daughter I was shopping for that nursery like crazy and looking back was like yeah I didn’t even use 1/2 this stuff 😅😭
I just got the notification for this comment and I so needed it! Just followed your channel! We got this! ( I nested so hard that most of my credit card debt is from that time! 😩)
I know it's depressing to see it reduce by so little despite the amount you paid. But at least you managed to get it reduced. At least it didn't increase. I had to also teach myself that progress no matter how tiny is still progress
Thank you for the encouragement!
Be careful consolidating your student loans if you qualify for any government forgiveness, it’s something to look more into 😊 from my understanding if you make gov loans into private you’ll be disqualified from all forgiveness…I’m not totally sure though. It’s something to look more into for sure!
I feel like when I was in my 20s I had every store card too lol
I wasn't expecting the total payoff to be that low based on monthly paymanets 😮 Intrest is a serious killer!
That pen... its horrible lol
I know!! 🙈
I've got about 10 accounts I owe on and I almost wish it were fewer #s of accounts even if the total was the same. It is motivating me to quickly pay off some just due to the #of accounts overwhelming me.
Hi
Pay credit cards as soon as possible
Interest is compounded daily
It’s hard to see the numbers. I’m following along 😊😊
You are very concise in explaining details; however, in your next video choose a different pen color. Good luck in your journey.
If your student loans are individual, pay them individually. It's easier to pay off smaller deb t than a large debt. And no, your mortgage isn't considered consumer debt like all the other debt. People can live without credit cards, Student loans & unnecessarily expensive cars. Most people can not pay cash for a house. The house is Baby Step 6 and the other debt is Baby Step 2.
I get a lot of comments on my car too 🥴. I know people mean well, but it stings every time.
Just followed your channel! Good luck on your journey!
@@JanetKB thank you so much 🩷🩷😭
Very hard to read, you need a darker pen.
Yes
I thought it was my eyes
You circled the wrong interest rates that are “killing” you, it’s the car
Extremely difficult to read. Dim your lighting or use a darker pen please.
😮😮😮😮😮😮😮😮
Did you need to buy an expensive car at high interest? You could sell it and get a less expensive car. What the h***. 15 credit cards at one time. My advice is to use cash and debit card only. You can't afford "self care" at a salon.