How To Get Out of Debt

– One of these things
is not like the other. But if you have no idea what I’m talking about, keep watching. (upbeat electronic music) (whooshing) All right, I am pumped about this episode because it has to deal with a topic that most of you are
dealing with in your life, which is debt. Oh, it is so discouraging. I read all these statistics
and these studies all around this topic, and it’s like America is drowning in debt. And you may feel this way. 78% of Americans now—it used to be 70%, now it’s up to 78% of Americans— are living paycheck to paycheck.
And a good reason of that is because of how much debt they have and how much debt they’re
paying out every single month. And the other hard thing about debt is that it’s so normal in our world today, so normal, that people
forget what debt even is. I was talking to a group of
college students years ago, and this guy came up to me
as I was getting started. And he was like, “Hey,
are you the money girl?” And I was like, “Yeah I guess so. “I’m here to talk about money.” He’s like, “Oh, cool, cool. “Well, I’m debt-free.” And I was like, “You’re debt-free? “You’re a college student who’s debt-free? “You’re like a unicorn. “Like you don’t exist!” And I got so excited, and I
was like, “Tell me your story. “Like how are you getting
through school debt-free? “Are you working? Did
your parents pay for it? “Is it scholarships and grants?” And he looked at me
like my dog looks at me. And he just like turned
his head, and he was like, “No, I have $36,000 in student loans, “but I’m debt-free.” You guys, I hear that all the time. Oh yeah yeah, we’re debt-free, but you know, our car loan
every month is really high. And I’m like, oh, so let’s just get on the
same page all together. Okay, this is what debt is: Debt is owing anything
to anyone for any reason. Say it again. Debt is owing anything
to anyone for any reason. Now, to make it even less complicated, let’s play a little debt game: What Is Debt, and What Is Not? Car loans: debt. Pizza: no, no, no, no,
not debt, just delicious. Student loans: debt! Yes, student loans, debt. My dog Nala: not debt. But you can lease pets
now. Have you heard this? Yeah, that’s not a good idea, so sad. Don’t lease your pets. Your mortgage: debt. It’s the one type of debt
I won’t yell at you for, but it is debt. Credit cards: debt, yes. Even if you pay your credit
card off every month, during the month, you are
still technically in debt, because you owe someone something
at the end of the month. So, that is what debt is. Some of you have fainted, and you don’t even know what to do right now in life, because I may have just
busted some bubbles for you. But that is what debt is, you guys. Again, owing anything to
anyone for any reason. And when you look through Scripture, every time it is mentioned
in Scripture (debt), it is in a negative fashion. It’s a curse. It’s a
burden on your family. It also says that the borrower
is slave to the lender. And I think that is
such a visceral picture. It’s such an example, because
that is what debt does. It limits your freedom. The borrower is slave to the lender, meaning you don’t have the freedom to get to decide what
to do with your income. When you work and your income comes in and you have debt, you
have to pay other people. You owe someone something,
and there’s not the freedom to say, hey, what do we
want to do with this money? Do we want to invest it? Do we want to give it away? Do we want to spend it? What do we want to do? You don’t have say over your money, and that limits your freedom. And my friend Chris Hogan
says that debt is a thief. It not only steals your income from you, but it steals your sleep at night. It steals your peace of mind. And so, when we look at
this, debt not only has an emotional impact on you,
a spiritual impact on you, but also a big financial impact on you. And some of you are
feeling this pain right now, whether it’s student loan
debt, credit cards, car loans or all of the above, you’re feeling this weight, and you’re getting to a point where you’re starting to
get mad at your situation. Because you’re like, what am
I doing? I’m working so hard, and I feel like I have
nothing to show for it! You’re getting that feeling,
and when you get that feeling, that’s when change occurs. That’s when you decide, I’m
gonna do something different. Because those of you out
there that are like, yeah, I kinda sorta want to get out of debt. I mean, I think that’d be
fun, kinda. Yeah, I guess so. Yeah yeah, you’re not getting out, okay, ’cause you can wander your way in, but you cannot wander your way out of debt. You have to be so invested in this. You have to say, “I am
going to work so hard “to get out of debt.” And that’s what it takes, but
you gotta get mad, you guys. You gotta be like, I am
sick and tired of this! I’m sick and tired of living like this! So when you get that, that’s
when you can start this process of getting out of debt and
to be completely debt-free. So to get out of debt, we
teach the debt snowball, and that’s where you list
out all of your debts, smallest to largest, regardless
of the interest rates, pay minimum payments on all your debt, and then attack the smallest one first. And when I say attack,
you look at your budget, and you’re like, we’re
not going out to eat, we’re not going shopping this month. You take everything out. You cut cable. You do all of these sacrifices
in your budget and say, we’re gonna put as much money as possible to pay off that smallest debt. And then once that’s paid
off, you take all the payments you were paying on that one, and you roll it over to
the second smallest debt. And maybe you get an extra job. I mean, maybe you go crazy to get
as much money as possible to pay off that second smallest. Then once that’s paid
off, you roll it over to the third smallest. Then you keep going and going and going
until that last debt is paid off and you are debt-free! Everything but your house
is completely paid off, and we’re finding that
people are doing this within 18 to 24 months on average. And this is all income levels, This is all debt levels,
I mean, people are getting crazy, ’cause what ends up happening is as you’re gaining traction and
paying off the smallest debt, you actually are seeing
hope. And you’re thinking, I can do this. Even if
it’s a $200 Macy’s card that you pay off first, you
pay it off and it’s like, okay, this is possible.
And you start to gain hope, because this is one area
of money that can become so hopeless. Because you feel
like you are so deep in debt that there’s no way out. So again, the sacrifices that you make within your lifestyle,
getting your income up, and letting your expenses go down, all of those things together, you’re able to get out of debt. And I’m telling you, getting out of debt is something that will take
care of you and your family far into the future. And another way to take
care of your family is to make sure that
you have life insurance. Now I know this is something
we don’t like to think about, we don’t really want to
talk about. But you guys, this could have a huge impact on your family’s financial story, in a really positive way,
or in a really negative way. And most people don’t
even know where to start, so they just put it off. But let me tell you, no matter
where you are financially, you need to make sure
you have life insurance. Winston and I use and
trust Zander Insurance to take care of our family. So, you’ll need 10 to 12 times your income in a 15- to 20-year term policy. Zander’s great because what they do is they shop the best rates
for your specific needs, and they will help you
through the entire process. So make sure to go to
or click the link below to get started on a quote today. So again, taking care of
your family, so important, and also getting out of debt, you guys. Now as I’m bringing up debt, you’re probably thinking
through, if you haven’t already, oh God, that credit card
that I’ve had since college, and you have $10,000 on it,
and it’s just hanging around. Or your student loan and you
start to like think about it and you’re like, (grunts) I’m mad at that, like I hate it, I hate that one so much! So I want you guys to comment below on what debt you hate the most, the one you are so ready
to get out of your life. Because I know there’s
one, there’s always one. And it’s so funny when I look at my story, and where debt enters my life was like at the very,
very beginning of my story. Because for me, budgeting was probably the hardest financial principle
for me to become a habit, ’cause I love to spend. I’m a free spirit, so budgeting was really hard for me. But staying out of debt
for me was so easy, and I think because of the deep pain that it caused my family. (soft piano music) So the year I was born, my
parents filed for bankruptcy. I was born in April, and
they filed in September. And because of what my
parents went through, my whole first part of my
life was completely different, because they got to this
point and they said, okay, no matter what,
we’re not doing this. We’re not going back,
no matter what. And because of that, there
was a lot of sacrifice on their ends, and especially
now that I’m a mom, I look back and I’m like,
okay, they had my sister and me, I mean, two small kids
through this process, and I remember we never went shopping. Like we always went to consignment sales. We never went on vacation.
I mean, Mom and Dad really, really made
these sacrifices for us, and I look at that and
I am eternally grateful. Because what I grew up with
was kind of a financial bubble in a sense, but that debt
was a four-letter word. And it was just something
you always stayed away from. And traveling with my
dad, early on in my life, and working at events,
and doing all these things in our family business,
I saw the pain that debt not only caused my family, but so many people out
there. And that’s one of my favorite parts of my job is helping people become free of this and get out of debt, and that’s
why here at Ramsey Solutions people come here to do
their debt-free screams live on The Dave Ramsey Show. And it’s some of my favorite calls, because people will call in, or again, some of them will drive or
fly from all over America to come to Ramsey Solutions
and get on the phone and do their debt-free scream. And they get to explain their story and all the sacrifice
that they did as a family. And you meet everyone when
you come through our lobby, but my favorite people
that I get to meet and see are the young families that come in. Because the doors to
our office will open up and a little five-year-old
boy will come sprinting in, ’cause he’s been in the
car for like eight hours. And then a mom will come in behind him holding a toddler on her hip, and then a dad walks in
holding a baby carrier with this brand-new baby,
and it’s the family. And they don’t look
heroic. They don’t look like something special. They don’t look like they
just walked out of a magazine. They look like the everyday family, but what they have done is extraordinary. And they get on that call,
and they talk through how the dad took out an
extra job and worked overtime for almost two years. And I look at that and I
just, I hear it and I see it, and I think about it, and I’m
like, how many soccer games did he possibly miss? Like what things did he
miss to make this sacrifice for the good of his family? And that mom, I think
about her and I’m like, she was basically a single mom. I mean, how many nights did
she put those kids to bed by herself, which is exhausting, we all know that. Bedtime is hard. But I look at this family,
I’m like, they did it! And why did they do it? They did it to pay off
everything from $30,000 to hundreds of thousands
of dollars, some people. But it doesn’t matter what
the debt was, the amount, it was the sacrifice that they made. And as they get ready to
do their debt-free screams, they put on the radio headsets, and they bend down, the parents, and they have their kids
right there with them and the kids are getting excited because they have a job to do,
and they’ve been practicing for eight hours for this exact moment. But this dad and mom, they
get to look at their kid and say, “Okay, are you ready?” And they get to count
it down, and they say, three, two, one. And in unison with these
little chipmunk voices in the background, this
whole family screams out, “We’re debt-free!” And every time I see these families or I hear those calls,
I mean, it makes me cry, because I think, I was that little girl. Like that little girl that
that mom is holding right now, that was me, and my life
would be so different if my parents decided to go back and that their legacy was one of stress and debt and that’s how life is. But they chose a different path, and because of that, my
life is forever changed. We like to say around here that
you change your family tree, that this part of life
that is so stressful doesn’t have to be stressful, and you can actually gain
control of your money. And those of you out there doing it that are paying off debt,
keep up the good work. And those of you that
haven’t started, start now! And I want to encourage you again to see this family who have paid off debt, they came to Ramsey
Solutions, and I want you to see their story,
’cause they are amazing. (upbeat electronic music) Thank you guys so much for being here, and your story is just amazing.
So catch me up a little bit. Just kind of walk through why
are you here in Nashville, and yeah, what brings you here? – Well, we are here for
our debt-free scream, and we made a vacation out
of it since we’re here. – Nice, nice. – But yeah, we have worked for four years to pay off our house,
and we paid off $192,362. – You guys! – Four years. Yeah. – That’s insane. Okay, so how long have
you guys been married? – Six years this week. – Six years this week. – Yeah. – The anniversary, okay,
and you have two girls. – Mm-hmm.
– Yeah. – I met them already, so sweet. And they’re like the exact
same age as my girls, which is just so fun. Okay, so it’s crazy that
you’re like 29, right? – Yep. – 30, and you have a paid-for house. So like what even makes you
get in the mind-set to do this? ‘Cause a lot of people that are in debt think it’s hopeless,
right? They think like, oh yeah, you’re just always
gonna live with debt. It is what it is. And especially a mortgage, like
that is the one type of debt I don’t yell at you for, so. But the fact that you
paid it off this young, like what made you even want to do that? Like why not take that
money and go on vacation? – You know, I’m in sales, and
so my job’s pretty volatile when it comes to if I miss
my number, I may lose my job. So if I don’t have any expenses at all, it just makes going to work easier, and I don’t feel desperate
in my conversations when I need that commission check. And then, you know, our
relationship gets a lot stronger ’cause we don’t have anything to pay for except for the lights and food. – It’s amazing. So who was like, who like kicked this off, like who had the idea,
let’s pay off our house? – I think it was her. (Rachel laughs) – Was it? It was a common goal. It really was. – Yeah. – We were both on the same page. Right when we got married,
before we even had a house, we went to Financial Peace University. – Yes, yes. – Just at our local neighborhood, some guy put it on, so we did that. – Yeah. – And I think that, maybe,
made us want to say, you know, when we do get a
house, let’s just pay it off as fast as we can. So I think it was a common goal, and it was right in the
beginning of our marriage, so a lot of our marriage
was just built upon that. – Yes, okay, so I’m curious, tactically how did you go about this? ‘Cause a lot of people are gonna hear, okay, you paid for your house, so like, did you write just big checks
randomly throughout the year? Did you have like a
tracker, and you were like, you know, progress payments? How, tactically, did you do this? – Yeah, so we would sit down,
how much can we do each month compared to our annual salaries? And we first started with a certain amount and then about six months
through it, we’re like, (sighs) we could probably double that. And so we doubled it. But it’s, now it’s on automatic draft. – Yeah. – And it’s coming out, and
then two years went through, and we’re like, (sighs) we could
probably double that again. So we just like— – Oh my gosh. (laughs) Because your income’s
going up during this time. [Both agree]
– So you’re having more cashflow in, and you’re like, let’s just
throw it. Let’s not live on it. Was it hard to make that decision? – You know, I wouldn’t say it was hard ’cause it was really motivating, especially to see the amount of interest we were paying each month, that just going down and
down and down. It’s like, oh at first, you know, you’re paying several hundred dollars, maybe even a thousand dollars, and then. – Even just the 15- to
the 30-year difference. – Yeah. – Oh the 15-year mortgage versus 30-year. – It was like, okay, if we pay, if he’d get a commission check, say a $10,000 commission
check, we already predetermined it was going to the principal. – Wow. – And be like, wow, look
how much it took down the amount of interest that
you’re paying every month. – Yes. – So it was really motivating, but yes, we still have been on vacation. We just did it really frugally. – So what was the, what
was like the number one sacrificial move you had to make, where you’re like, okay, we— – We have one car.
– Our car. – To this day.
– You have one car? – We’ve had one car our whole marriage. – So how does that work? – Well, it’s always worked out where, you know, when we were
both working full-time, it was close to each other,
so we’d just commute. – Okay, yep. – He would drop me off. I
did longer shifts than him, so he would drop me off
and then pick me up. When we had kids, he
would take the tracks. – Yeah, our public transit, every job I’ve ever had has been literally right to the front door
from our house so— – So is the car gonna be
a purchase you’ll make? Will you all do two cars now that the house is paid off? (laughs) – We need a family car,
’cause we have a little car. – Yes, yes.
– We need a big family car. – Yes, oh, you guys. Okay, so, how does it feel? Like when you write that
last check for your mortgage? Which you’re like in the
.001% of the world, right, America that pays off their house. Like how does that feel
when that last check is, or it was, you know, taken
out, right, auto draft, like what do you think,
like how does that feel? What’s that conversation like? (laughing) – First, I didn’t even know how to do it, so I had to research, how
do you pay your house off? There’s not a lot of like research— – Yeah you don’t just pay it, you have to like pay a fee to
close your mortgage out, like. – Yeah. – We didn’t know any of that. (laughs) – But when we finally had the, I think you have to do it through a wire, when the wire came out,
and we opened our phones, and it was like, paid in full. We were like. – Yeah we kept like opening the app. – Like is this real? – Paid in full, okay. The next day, paid in
full, still paid in full. – Yes, yes. – A little surreal, but– – And what, it’s been since May? – Yeah.
– So. – So good, ’cause it’s the
opposite feeling you have when you are deep in debt, right, and a lot of people that are that feeling of living paycheck to paycheck. And if they lose their job, their whole world turns upside down, like they don’t have a plan. And so for those people
that are in that position, like what would you tell them, words of encouragement, to say like, that you can do it, it is possible. What would you tell another couple, another 30-year-old
couple, who’s sitting here, and they may have credit card debt and car payments and a mortgage. They can’t even imagine. What would you tell them? – Well, I think obviously
Dave’s plan works. The hard part is actually doing it. And then just don’t buy stuff. Like stop buying stuff. – Stop buying stuff. – We buy too much stuff. It’s like we buy a box that we live in, and then we fill the box with stuff. And then when you buy another box, it’s like, why did we buy all this stuff? So. – That’s it, like you said. I mean you’re just
determined, you stick to it, and you have a plan. And you
can execute it if you do it. – [Kari] You know, it’s worth it. And it might seem like so long from now. Like even thinking about
four years from now, that seems like such a long time, but it just flies by. And the
motivation keeps you going. It’s not just a, oh, four years from now, I’ll be, then we’ll be fine. It’s no, like next month you’re gonna feel a little bit better. And the following month,
you’re gonna feel even better. Like it’s just gonna keep snowballing and motivating you and making
you feel more peace as you go. It’s not an end; it’s a journey. – [Rachel] Well said.
Well, congratulations. Your story is just amazing. – [Dave Ramsey] Count it down. Let’s
hear a debt-free scream! – [Together] Three, two,
one, we’re debt-free! (laughing and applause) – [Dave Ramsey] Yeah! Oh, that’s how it works. (cheerful music) (phone dings) – Planning and cooking
meals for the family can be stressful. Knowing what I’m going to cook, having all the ingredients,
and making something everyone will love is a balancing act. That’s why I use Home Chef. They deliver straight to
your door, and get this, the ingredients are pre-portioned so you never end up wasting
food and throwing money away. Plus they offer 18 fresh choices
to choose from every week. You’ll find easy to
make, well-balanced meals that the whole family will love. And it makes me feel
like a true chef at home. Home Chef: Meals anyone can
cook and everyone will love. Visit today or use the promo code Rachel at checkout and get $30 off your first order. Guys, let’s be real. Being a parent is hard work. Now that I have two daughters of my own, it feels like the to-do list never ends. And as every parent knows,
your priorities change, and you have to make important decisions for your child’s future. That’s why term life insurance
is a must for every parent. It’s so easy to get, and it’s affordable. What you’re looking for is 10
to 12 times your annual income to make sure everyone in
your family is taken care of. Winston and I use Zander Insurance. They do all of the work for you to find the best prices and options. So go to to get
started on a quote today, because that’s who we trust
to take care of our family. (soft music) So one way to pay off debt is not only just to
sacrifice your lifestyle, but to actually bring in more money. Make more money! My great-grandmother would always say, the best place to go when
you’re broke is to work. So, I know maybe you’re saying, well, I have a full-time
job. I can’t work extra. Or, I stay at home with my kids. But I bet if you get creative,
you can find a side hustle that is right for you. So some important things to think about. Number one: Ask yourself honestly what your schedule allows. Also: What are the needs in your area? What are you really good at? And then lastly: How far
are you willing to go to get out of debt? So, I thought through some of these things, and so here are 24 insanely specific ways to make more money to pay off debt. Number one: pet sitting. Number two: private sports lessons. Number three: rent your
house out for Airbnb. Number four: landscaping. Number five: house cleaning. Number six: meal prep. Number seven: babysitting or childcare. The next four ideas are for
those of you who have a car. Number eight: drive Uber or Lyft. Number nine: grocery delivery like Shipt. Number 10: Be a food deliverer. Not just like a pizza
deliverer. You can do anything like Grubhub, Uber Eats, Delivery Dudes. Number 11: Sign up to
deliver for Postmates. Now these are things
that you can do at home. Number 12: For all you
photographers out there, shoot some stock
photography and upload them to a stock photo app. You can get paid for that. Number 13: calligraphy. Number 14: cake baking. Number 15: monogramming. Number 16: consignment. Number 17: Give music lessons. Number 18: Be a tutor, like
teaching English online. Number 19: building slides or PowerPoints. Number 20: transcribing. Number 21: Be a virtual
personal assistant. Now the next couple are
if you are a neat freak. Number 22: home organizing. 23: car detailing. And number 24: For all of you, start a membership to
Financial Peace University. Two out of every three of you say that your friends don’t think
that debt is a big deal. That’s why it is so critical
to surround yourself with people who are on
the same journey as you to keep you motivated. So make sure to click the link
below for more information. And for those of you that are motivated, and debt-free, this is
a special edition of She Works Hard Saving Money. @FinanciallyFreeInOurThirties said, “When the numbers aren’t
going down fast enough, “I think it’s important to
reflect on what you’ve achieved “over a three or six month period “instead of just the last pay period. “If we hadn’t had to purchase a second car “or bought those flights,
that could have been “another $18,000 towards the mortgage. “But you also need to live
a bit amongst the journey.” @Koolaberg said, “Feels amazing
to officially own my car.” That’s right, girl, no more car payments. Kenzie said, “I always feel
like I want to scream “to the mountains every
time my husband and I “pay off another student loan. “My heart explodes with
so much joy and happiness “with each milestone we hit “while working to become debt-free. “We’ve been chipping away
with gazelle intensity “ever since I graduated from nursing school “almost two years ago and have a goal “of being 100% debt-free by December 31st.” Amazing Kenzie, so great. Miss Leighty said, “Paid for in cash. “Wow, that is a crazy sentence to say. “It has been a few months
now since Brian and I “moved into this beautiful house debt-free. “I still can’t believe we
actually own this home, “like paid for in cash,
no payments, nada, zip! “It has been a long journey
to get where we are, “but are so excited for this
new chapter in our lives. “We couldn’t be more
thankful to Jesus for it.” Oh, so great, you guys. I mean, so exciting and so encouraging. Now if you are working
hard to pay off debt or save money, then be sure to check out our free goal trackers that
will keep you motivated on your journey. Just click the link below. Well, thank you guys so much for watching, and all of you on a debt-free journey, good luck, keep up the hard work, and make sure to email me
at [email protected] ’cause maybe we can feature
you here on this show. So again you guys, continue to work hard, and remember to take control of your money and create a life you love. (whooshing)

100 thoughts on “How To Get Out of Debt

  • "One of these things is not like the other." That's only if you didn't pay for it, and the Snickers Bar you got on the way home, with a credit card. "Oh sure, darling seven-year-old daughter, you can have 79 cent ice cream cone!" Turning to the cashier, "Do you take Discover?" I see it all day every day. 25% interest on a candy bar. YIKES!

  • Car loans are the WORST!!!!! Vehicles depreciate so fast that even if you sell the car, you still have to pay the difference! Can't wait til our car is paid off and we will never have another car loan again!

  • The reason why I don't like life insurance is because I'd rather have a person back than the money. I would feel terrible spending it. I wouln't want anyone fighting for money that I left instead of being upset that I'm not here anymore. Humans become animals when money is in the middle and it has broken families up.

  • I am watching this on the way to work, crying. Last night I took class One of FPU, realizing that Dave signed bankruptcy this month in 1988. I turned 18, 20 years ago this month ( I just turned 38). I have been in debt for 20 years. Thinking it was normal at times, thinking it was hopeless other times, and even ignoring it sometimes. I feel like just making the decision to STOP and be done with debt has lifted a huge weight off my
    Shoulders. I feel free to CHOOSE. Choose a debt free life. I thank you and your family. From the bottom of my

  • Car leases – people don't think of them as debt, but they are.

    I am one of the few who wandered out of debt. I had a car, which I made regular payments on and a line of credit with a limit of $2K. But the idea of another car loan scared me. Glad I read the Total Money Makeover. I was already debt free when I read it, but I am now on baby step 4 after only a year! Saved to buy a car in cash, too!

  • Wrote my final check to pay off my van yesterday! We are now down to the house and are head strong on continuing the process to be debt free – completely. The feeling of not having any debt other than the house is awesome!!! We now have an opportunity to save money for our special needs child to make sure the future is promising for our family.

  • I have a question, I’m almost done with babystep 1 and I’m getting excited, but I was thinking, when getting into the debtsnowball, if an emergency like doctor or something comes up, would you pay the minimum with the emergency fund and add the rest to the snowball or pay the full thing and stop the snowball and build the emergency fund back? This is totally hypothetical, but I’m curious as a just in caser.

  • My private student loan, Navient is the bane of my existence. We put an extra $2400/ month towards it, and it will be paid off in February!! I just paid off another student loan last month. We will be completely DEBT FREE by the end of 2020! We took Dave's FPU class several years ago, and it totally changed the way we manage our money. We've paid off almost $100,000 of student loan and credit card debt so far, and we're not slowing down!

  • Student loans! We were just told the next step to go to college and expected to take out loans. Never thought (or discussed with my parents) about other options.

    Now we will not be having kids until we are debt free and will inform our kids of all options.

  • Everyone that regrets getting into debt for going to school, needs to stop. Look at as an investment that you can control. Use that education to go after your dream job. Then look at the diploma and that salary as the Return On Investment. Use that return on investment burn your debt to the ground.

  • How can we be out of debt when we always owe land taxes which equals more or the same as payment for one month rent a year? Light bills that's running almost as much as a monthly mortgage, home and car insurance, yadda yadda, very frustrating. I felt the need to vent lol. Love u Rachel!😊😊

  • My credit card debt makes me so mad! I started out on a great path. I had a credit card in order to gain credit, and it worked out well for a couple years. Then I spent one summer having tons of fun with my boyfriend, and now I'm in $10,000 in debt. I probably spent $3000 that summer, but it has just gotten so much bigger since then. I am so far away from being debt free. I have student loan debt that really sucks but I'm less mad about that because I don't think I could've done it without loans. The credit card debt is inexcusable though. 🙁

  • As a single dude… I feel very discouraged by these types of videos that exhibit perfect families and family centered stories. I feel like I'm never going to get out because I'm alone… I feel like videos like these just rub that salt in my wound…

  • Hi Rachel. I love your shows, thank you. Are you going to bringing anything to the UK soon? I am using a budgeting app, which is ok, but nothing compared to the app you recommend. I have your Dads book, Total Money Makeover, which is really interesting too. Best wishes, Nikola x

  • Question. Is water debt? Is electricity debt? Is the internet bill debt? They provide a service and at the end of the month I owe them money.

  • I don’t like school loans. I’m also looking to get life insurance but have to contact Zander’s during business hours it’s 9pm est😴😯🤗

  • Thanks so much that was wonderful!!! I would appreciate iusing the word God or Higher Power since it is much more Universal!

  • so if i purchase a 5000 dollars American Stress gift card. does that mean American stress own me money ?

  • What about your mortgage? Why is that an exception when it comes to the baby steps? If they have a mortgage then they're not out of debt…

  • THANK YOU TAHNK YOU THANK YOU!!! So glad I stumbbled upon your channel and I definitely watched it until the very end and cried. I can definitely relate as I am in DEBT! I am making payments on all my debt; school loan, credit car, car note, etc. My car insurance just went up and now I am definitely living pay check to pay check and have a dilemma. Should I just voluntarily surrender my car? Will this have a huge impact on my credit? I'm expected to pay off my car note by 10/2020. I am in the process of transitioning my career and not sure what to do. I am honestly over being in debt and want to purchase my home next year June-just not sure if surrendering my car will affect me terribly long term. I live in NY and have access to public transportation so thats why I am just so adamant in surrendering. I have attempted to sell the car however the offer is 3k less than the balance owed to the bank. I have interviewed and applied for part time gigs to try and get rid of most of my debt but the offer was not worth me sacrificing my weekends. I am trying to work smarter and that is why I am making a transition in my career so that way I can increase my income. Rachel any advice? #beautyrunswild

  • Car loan. Daily interest of $6.00. My car cost $750 a month to operate each month. S400 car note. $170 for insurance. $180 a month in gas. This is why i live at home still…. Throw $1000 in rent thats 1750 then food puts me over 2000. Not too many jobs paying more than 500 a week after deductions… Im not moving out til my car is payed off. And i will never finance another vehicle

  • 10:45 "They don't look like something special"…she says about the families who were debt free. She could've stopped at "they didn't look like they stepped out of a magazine" or she could've just said these are real everyday people. Gee lady, thanks for the underhanded compliment. So scripted and phony. I get it that it's supposed to be innocent but that statement was a little subliminal.

  • Hi. Am looking to refinance my home and take out money 👍🏾 what’s the important question to expect or should I sell my home

  • Our credit card has a crazy high interest rate, and I didn't know my husband was using it for our groceries while he was unemployed. I took Rachel's advice and we're planning to have a weekly money meeting so that doesn't happen again.

  • THAT PIZZA is debt IF you paid it with a credit card! Imagine all the college kids who do or did this! Trust me, I WAS (past tense) one of them! Learned my lesson since!

  • Being that I loathe student loans, I have declared war on Sallie. This war will last through June 2020, but it's worth the win! Murphy will be my next target!

  • Thank you for this spiritual and practical superloaded meaningful video. Thank you very muvh Madam Rachel. Watching here in Baguio City, Philippines 🇵🇭- Shamgar

  • The personal loan that I used to get a divorce is the albatross around my neck. It will be the FIRST to go!

  • I've been watching budget and debt free related videos for several months. In Dec. 2018, I decided to give myself until the end of March '19 to pay off a $1,000 line of credit loan. I made the last pmt. on Fri., Mar.1st! 🙂
    Important note: I work part time retail, so my bi-weekly paycheck amounts fluctuate.
    I told a friend that I plan to close the loan, and she said that will make my credit score go down. I'm confused on that part, but it will be a good thing for me to not have that temptation. Please advise. Thanks for your ministry.

  • The debt I hate the most is my friends debt. I cant do anything about there debt except encourage them. My friend in debt works multiple jobs and is working the Dave Ramsey plan! She is still living paycheck to paycheck but working on improving and growing. I believe that personal relationships are more important to building wealth then just working as hard as you can. If you have relationships with rich people you can get rich by multiple ways for one they are the smartest investors so you can put your money to work, two they can gift you money, three they can help you earn more in less time, four they can lower your cost of living. I positive relationship with money also helps you win with money.

  • I like your videos and your advice on paying off debt but why are you trying to sell life insurance? All insurance companies are thieves.

  • We have 7 children and at kid #5 we had to expand our 2 bedroom bungalow. We added another storey to our house (4 more bedrooms and an extra bath. It cost about $25,000 because my husband did all the work himself. We still have $16,000 left to pay, but we are doing the debt snowball and attacking it as creatively as we can! 😁 We hope to have it paid off this year!

  • I paid off all my debts, my last one being my car loan, made me lost 40 points on my FICO score. Unreal! It actually severely hurt my FICO score.

  • I love Rachel. Her book was amazing, especially if you have teenagers. One area that I wish she would cover is how to come up with additional funds (if you can't get a second job) to help you get out of debt or to come up with your initial $1,000 emergency fund. I have a video on my channel called "How to get out of debt: 5 Tips to Lower Your Monthly Expenses." I hope you guys find it helpful.

  • I felt as though I got sucker-punched into student loan debt. I didn't have a financial plan and banked on the fact that I had to have a college degree to have a 'good' job. God's Word is true when it says the people perish for a lack of knowledge. If you have a plan mapped out prior to pursuing college, you don't have to put yourself into a financial choke hold.

  • I'm really thankful that I paid cash for my degree, working and studying and paying cash as I went. It took longer but it was worth it.

  • CreditMe Help hacker did help me to clear all my debts and also fund my PayPal . if you have an issue with credit card debts , loan he can do it for you, reach him at CREDITMEHELPHACKER @ GMAIL COM

  • Student loans is that one debt that I strongly hate the most. Mainly because I had a high variable interest rate. I strongly recommend refinancing at a fixed interest rate.

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