Thinking about a new wardrobe is next level 😂. I know you’re going to put it off but even thinking you need new clothes while paying off debt is crazy.
@@noseporquien i’ve needed a new wardrobe for a while, which is not something I can really afford. I’m stuck wearing sweats a lot of the time and when I go to work, I’m stuck wearing jeans and graphic. That’s all I have basically and some thrift clothes that don’t fit very well. I worked from home for like four years and so I got used to wearing like pajamas 24 seven every day and so I really don’t have much outside of that.
Why not “stretch” yourself and put 1/2 of the $471 toward your debt? There’s a saying that goes, “If the only tool you have is a hammer, you tend to see every problem as a nail.” The $471 hammer will certainly see every impulse purchase as an “emergency”. Rationalizing that you must keep the $471 as a hedge against unforeseen “emergencies” doesn’t even make sense if you really do have a few thousand dollars in other accounts. It appears to be an excuse to have this money available to spend (guilt-free) on some random purchase you deem as an “emergency”…maybe cute hats to go with the sweatshirts or dropping $20 at Starbucks for breakfast because you’re too tired to scramble up an egg and pop a piece of bread in the toaster at home. Maybe “feeling uncomfortable” when paying down your debts will help serve as a future reminder to think before you spend money you don’t have in the future. I can pretty much guarantee that having the $471 sitting in your account is absolutely certain to attract “emergencies” like a magnet over the next 2 weeks…just try to keep it-you’ll see. Or…consider using a portion of it to start seriously paying off your debt.
I dont understand how you are in your 40s and planning to retire in 8 years??? That means you are planning to retire earlier than most, but yet you are 100k in debt?? If that is truly your goal then you should not be spending any money right now on fun or optional things, only bills and savings!
@@cj89765 listen y’all may look at the mountain and say that you can never climb it because it’s too steep. It’s too high. It’s too dangerous. Whatever excuse you wanna use but I look at the mountain and I say where is the hiking gear because I will climb the top of this mountain I don’t care what route I have to take zigzag straight up. I don’t care. I will make my dreams happen.
@@sgc1401. The 8-year retirement plan is simple….it includes purchase of Louis Vuitton rose-colored glasses & hiring a bankruptcy attorney…AND voting for President Kamala to forgive the college loans.
@@sgc1401I think she got student loan forgiveness in about 60k of her debt this week. I watch a lot of these types of channels and Rachel seems the most “childlike” of all of them. She has no real plan.
Yayy for no car payment! I am one month away from paying off my car as well! 🥳 That money will go towards paying more on my big mortgage! My only debt, hoped to pay it off before my retirement in 11 years, but the way the inflation is going, that doesnt seem to be likely... Another corporate girly or rather a state employed girlie here.. 😉 Who also don't make enugh! Time flies by. I ordered the Budget mom planner, the live rich planner. (Got it on sale for $10!!) I think I need to be more organized with my time. I am having my girlfriends over for a greenhouse warming party next Friday. I need to plan my time better. Everything from planning the menu to cleaning my house. All time has gone towards my garden and new greenhouse this summer. Maybe the planner will help me get more out of the hours of the day. It is hard though. After work, cooking dinner, walking the dog - and then, not flipping up the laptop and watch videos until bedtime - which I normally do! 🙈 Smart move to have the savings or an emergency fund. With a dog and a car, you just know at some point they will cost money. Have fun with your grandchild! 💕
@@jburch1544I completely agree. Drastic changes in spending need to occur and more income is needed if she ever wants to retire, let alone in 8 years. At this rate in 8 years she will still be heavily in debt.
Thanks for sharing. My family have a few bills coming and I have school fees direct debit every fortnight. I place the bills on the fridge in an order where I pay one then my husband pays what's due next. Then put it away in a storage tub so we keep up with it. If I don't organise it then we forget. I filled up fridge and freezer with food for 2 weeks so bills could be paid on time. It's stressful because things have gone up in price and I've paid half the kids school fees. Have a blessed day ❤.
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
I am retired on a low in come so I understand. I am somewhat consumer debt free, but every month something happens with my rentals and the income goes down.
@@FIRE_DrNinjaTurtle yeah when I’ve done that in the past, then I end up having to put something on my credit card and then that defeats the whole purpose of what I was trying to do. So we’re trying to do it a little bit different this time.
@@EricMoore790 I have thought about this. And don’t get me wrong. There’s definitely been times in my life where I’ve worked two jobs and I worked 80 hours a week. But I just don’t know if I have the stamina to do that anymore. Plus, I have a dog so unless I can work from home and in the evening then it’s not gonna really work out
@@TheRachelShowWeekends? Look for a job someplace that offers discounts on things you need. Just two 4 hour shifts on the weekends could provide $ that you could put straight to debt.
@@angelicavasquez3870 long story is I moved to Florida and I waited to the last minute to get car insurance so I had a kind of just go with whatever I can find at the moment that I will be switching this because that is just insanely too high
@@BrokenWilllots of men are, too. I went to college, got a job, bought a house, got married, birthed 2 kids, built a solid career, got divorced (not my choice) am sending my kids to college without loans, and am on track to a solid retirement. I’m a woman. It’s not about gender. It’s about taking care of one’s self without depending on someone else. If I had relied 100% on my husband I would have been 53 years old and destitute since he felt like his mid-life crisis was more important than our marriage. The lie is that marriage will protect you.
Thinking about a new wardrobe is next level 😂. I know you’re going to put it off but even thinking you need new clothes while paying off debt is crazy.
@@noseporquien i’ve needed a new wardrobe for a while, which is not something I can really afford. I’m stuck wearing sweats a lot of the time and when I go to work, I’m stuck wearing jeans and graphic. That’s all I have basically and some thrift clothes that don’t fit very well. I worked from home for like four years and so I got used to wearing like pajamas 24 seven every day and so I really don’t have much outside of that.
Why not “stretch” yourself and put 1/2 of the $471 toward your debt? There’s a saying that goes, “If the only tool you have is a hammer, you tend to see every problem as a nail.” The $471 hammer will certainly see every impulse purchase as an “emergency”.
Rationalizing that you must keep the $471 as a hedge against unforeseen “emergencies” doesn’t even make sense if you really do have a few thousand dollars in other accounts. It appears to be an excuse to have this money available to spend (guilt-free) on some random purchase you deem as an “emergency”…maybe cute hats to go with the sweatshirts or dropping $20 at Starbucks for breakfast because you’re too tired to scramble up an egg and pop a piece of bread in the toaster at home.
Maybe “feeling uncomfortable” when paying down your debts will help serve as a future reminder to think before you spend money you don’t have in the future.
I can pretty much guarantee that having the $471 sitting in your account is absolutely certain to attract “emergencies” like a magnet over the next 2 weeks…just try to keep it-you’ll see. Or…consider using a portion of it to start seriously paying off your debt.
@@boatsie I love this. That’s actually a great idea.
I dont understand how you are in your 40s and planning to retire in 8 years??? That means you are planning to retire earlier than most, but yet you are 100k in debt?? If that is truly your goal then you should not be spending any money right now on fun or optional things, only bills and savings!
@@cj89765 listen y’all may look at the mountain and say that you can never climb it because it’s too steep. It’s too high. It’s too dangerous. Whatever excuse you wanna use but I look at the mountain and I say where is the hiking gear because I will climb the top of this mountain I don’t care what route I have to take zigzag straight up. I don’t care. I will make my dreams happen.
@@TheRachelShowI think you are off trail, though. I’ve been watching and rooting for you but it seems you are still spending money you don’t have
@@sgc1401. The 8-year retirement plan is simple….it includes purchase of Louis Vuitton rose-colored glasses & hiring a bankruptcy attorney…AND voting for President Kamala to forgive the college loans.
@@sgc1401I think she got student loan forgiveness in about 60k of her debt this week. I watch a lot of these types of channels and Rachel seems the most “childlike” of all of them. She has no real plan.
How are you planning to retire in 8 years? I’m genuinely curious. Thanks
@@NaturallyKristen86 that is still something I’m working on figuring out, but I know I will get there. I have done really hard things in my life so
Yayy for no car payment! I am one month away from paying off my car as well! 🥳 That money will go towards paying more on my big mortgage! My only debt, hoped to pay it off before my retirement in 11 years, but the way the inflation is going, that doesnt seem to be likely... Another corporate girly or rather a state employed girlie here.. 😉 Who also don't make enugh! Time flies by. I ordered the Budget mom planner, the live rich planner. (Got it on sale for $10!!) I think I need to be more organized with my time. I am having my girlfriends over for a greenhouse warming party next Friday. I need to plan my time better. Everything from planning the menu to cleaning my house. All time has gone towards my garden and new greenhouse this summer. Maybe the planner will help me get more out of the hours of the day. It is hard though. After work, cooking dinner, walking the dog - and then, not flipping up the laptop and watch videos until bedtime - which I normally do! 🙈 Smart move to have the savings or an emergency fund. With a dog and a car, you just know at some point they will cost money. Have fun with your grandchild! 💕
@@ibislife congrats on almost having your car paid off. That is a very big accomplishment that needs to be celebrated.
I'll be back in 2034. My bet is the debt will be above 200k.
@@wills8705 we have little faith
With the debt she has and the plan she is following, I’d sadly have to agree.
@@sgc1401
Retire in 8 years? Not even close to a realistic goal without major changes with income
@@jburch1544I completely agree. Drastic changes in spending need to occur and more income is needed if she ever wants to retire, let alone in 8 years. At this rate in 8 years she will still be heavily in debt.
A $5 dount is not an "emergency " pay CC debt down
@@jburch1544 of course the donut isn’t an emergency. I’m still gonna live my life. 😂
Thanks for sharing. My family have a few bills coming and I have school fees direct debit every fortnight. I place the bills on the fridge in an order where I pay one then my husband pays what's due next. Then put it away in a storage tub so we keep up with it. If I don't organise it then we forget. I filled up fridge and freezer with food for 2 weeks so bills could be paid on time. It's stressful because things have gone up in price and I've paid half the kids school fees. Have a blessed day ❤.
@@annarowsell6298 I like that. You seem so organized. You are so right things have gone up in price. It’s so ridiculous on how much groceries cost
How do most of you guys still make profit, even with the downturn of the economy and ever increasing life standards
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager
Julie Alma Stevens
This is correct, Julie's strategy has normalized winning trades for me also and it’s a huge milestone for me looking back to how it all started
Yes, I agree with you. Her platform is wonderful and her strategies are exceptional
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional
Wait, is the 4k not your emergency fund?
@@roxys744 for now the $4k is investment money held in a HYSA and I have about $1.5k - $2k in an emergency fund
I am retired on a low in come so I understand. I am somewhat consumer debt free, but every month something happens with my rentals and the income goes down.
@@FIRE_DrNinjaTurtle I was once there and that is why I sold my rental because it was just becoming a nightmare
I need to do it your way and have a little extra in my account. I have always drained my checking to pay the credit card.
@@FIRE_DrNinjaTurtle yeah when I’ve done that in the past, then I end up having to put something on my credit card and then that defeats the whole purpose of what I was trying to do. So we’re trying to do it a little bit different this time.
Build an emergency fund and then pay all that extra to debt.
You could get a second job at night and pay it off faster.
@@EricMoore790 I have thought about this. And don’t get me wrong. There’s definitely been times in my life where I’ve worked two jobs and I worked 80 hours a week. But I just don’t know if I have the stamina to do that anymore. Plus, I have a dog so unless I can work from home and in the evening then it’s not gonna really work out
@@TheRachelShowWeekends? Look for a job someplace that offers discounts on things you need. Just two 4 hour shifts on the weekends could provide $ that you could put straight to debt.
How can car insurance be that high for you???? Wow
@@angelicavasquez3870 long story is I moved to Florida and I waited to the last minute to get car insurance so I had a kind of just go with whatever I can find at the moment that I will be switching this because that is just insanely too high
You need to get into velocity banking!
@@sarita5572 what is that?
Feminism lied to you.
@@BrokenWill and what way?
@@TheRachelShow Feminism told you happiness is in career and education and now you are a wage slave with $100k in debt.
@@BrokenWilllots of men are, too. I went to college, got a job, bought a house, got married, birthed 2 kids, built a solid career, got divorced (not my choice) am sending my kids to college without loans, and am on track to a solid retirement. I’m a woman. It’s not about gender. It’s about taking care of one’s self without depending on someone else. If I had relied 100% on my husband I would have been 53 years old and destitute since he felt like his mid-life crisis was more important than our marriage. The lie is that marriage will protect you.
@@sgc1401 Or he just couldn't stand you anymore. Maybe you brought that career energy home and he just had to get away.
@BrokenWill
Not sure feminism as big a problem here. It's more of an example of poor choices as many women make and blame men.