5 “Normal” Habits That Kept Me Broke and In Debt

[@RonaldLBanks]

What poor financial habits have you had in your life? What did you do to change them?

[@laminage]

Spending 😢 as a way to reward myself for the fruits 🎉 of my labors. Now it is so 180% for me. If I can't afford it I don't buy it. My only weakness is Amazon and Dollar Type Stores.

[@Ripplesinthewaters]

Food!!! I’m not a cook It’s easier to order DoorDash than it is to plan meals. It’s expensive and unnecessary! I’m still working on that. I got rid of most of my streaming services when I figured out just how much I was spending on them. Question: if you and your family want to buy a house, someday, how are you going to prove your credit without a credit file or a FICO score? Lenders can be picky on those with no credit. Have you heard of any other way to do it? This is a genuine question.

[@ubaok24]

A lot of snacking.

[@MsDoglover02]

It's been years but going out to lunch for for drinks after work with co-workers. We were in sales and the $ was coming in but it was going out just as fast. Now I live on probably 1/2 of that income and enjoy cooking on the weekend so I can bring my breakfast and lunch to work daily. I watch co-workers much younger than I am eat out most days and know it's not cheap. I love my own cooking and look forward to my meals. It's nice to have a couple of co-workers also pack a lunch and we share recipes.

[@irmatezx3]

The how easy it is to use the pay in 4 payment plans. Working on stopping the urge to use.

[@calisomething22]

I love how you repeat the main driving points a few times. It slows things down and repetition is how we humans ingrain things in us to change ( for better or worse ). You’re style is so simple and transparent … something this world needs in heaps and bounds.

[@spanokopita5550]

The key, I think, is to not blame yourself for your past financial mistakes. You didn't know any better. But you should now take what you've learned and move forward towards a better future.

[@RonaldLBanks]

100% you are absolutely correct about this! We have to stop blaming ourselves for our mistakes and making excuses going forward! Thanks for calling this out my friend!

[@sloebone7399]

Then who do you blame? It’s your money, you are responsible for it, if you don’t know something, it’s your responsibility to find out the answers. You don’t have to beat yourself up over mistakes, but you have to take responsibility and do better.

[@Ashleyunfiltered]

@@sloebone7399true. There’s a difference between blaming and taking accountability for your actions.

[@Carolmaizy]

I now have a plan to be debt- free in 2 years. It's exciting to see the light at the end of the tunnel, and work to get there.

[@RonaldLBanks]

You got this!! I’ll be here celebrating with you once you pay it all off! Keep me updated!!

[@elizabethw3874]

Being debt free definitely is one of the best feelings! I’ve been 100% debt free for two years and it’s great. Thanks for sharing!

[@RonaldLBanks]

I totally agree! Nothing like it! 🙌🏾

[@paulahastings7865]

Debt free is wonderful. I just use my credit card to pay regular bills. I pay it off every month. Do not pay interest!

[@oldegoatee8450]

Great presentation! While working with overseas missionaries, I realized that what we Americans call "Broke" or "Poor" are what some people consider rather wealthy, or at least financially stable. Looks like you eventually avoided consumerism while you are still young! Plus, taking responsibility and not blaming inflation, etc., is always a good idea. Impressed.

[@JJL206]

Always a great attitude and lesson from you, Ronald. Thanks. Making that last student loan payment, and that last mortgage payment (all ahead of schedule) was a wonderful feeling. "Product Rich"...that's brilliant. Borrowing that one!

[@RonaldLBanks]

Congratulations on paying off your student loans and mortgage! That’s huge! I’m happy for you.

[@maryalchester]

Financial advice or aid can never be overstated. Most people jump into life or business sectors without planning. Life isn’t a gamble. It’s not so or die.

[@kaitlinross4348]

Thanks to you and Gabe Bult, we’ve went from spending more than bringing in, to paying off 2k in credit card debt over the last month. I literally cannot believe this and all the wasted money😭

[@roslyncaskey3396]

The "Rawness" of Ronald. Point blank Bank. I so enjoy your content. Thank you, and continue to educate the masses who are in financial mess.

[@amyhardin2079]

Great videos. Thanks for not talking so fast I can’t understand you during your videos. A lot of KZbinrs are doing this now and it’s hard to comprehend the information.

[@shirleyburnham2782]

I got rid of catalogue debt now working on clearing other debts. I feel so much more free getting rid of my clutter & debt. It's still a journey & I'm still learning. Thank you for your tips xx

[@angelajohnson4245]

Absolutely LOVE your advice Ronald! I appreciate how down to earth you are. And, when you share some poetry, that's great too. 😉

[@RonaldLBanks]

Awesome Angela! I love that you’re loving my content and the down the earth vibes you get from me. Sounds like I’m doing something right! Keep growing on your journey my friend!

[@callmeNeno]

Cutting credit cards is drastic!! Doing David Ramsey baby steps~~ building that emergency before investing. Awesome content dude!!

[@lizzyagatha]

We paid it all off too, it DOES feel great, we just have out mortgage, our house is worth twice that now, so all is well - decluttering finances, as well as the house is truly life changing.

[@Magicalactionshines]

I am just loving your content. Thanks for the great value!! Keep going 👍👍

[@RonaldLBanks]

Glad you enjoy it and I’m excited about having you on this journey with me!

[@lynneplis4793]

I enjoy your gentle but “tough love” message. It’s hard to face our own bad decisions, yet I know I’ve learned so much from my mistakes. I’m 67 now. In my early 30’s, I got my first well paying job. I’d always wanted diamond earrings and a black mink coat. When I got them , I remember thinking “huh, so that’s what it feels like “. Didn’t need to get more of that sort of thing. In a comfortable retirement now. We’ve taught our children to save and see the value of money. Keep spreading the word, my friend.

[@lizabean723]

also cried when i paid off my private loans! 16k in 8mo. i still have fafsa, but the interest isn't crippling & is currently paused. i do what i call "debt dumping". at the end of each month or cycle, i can determine the $ i "don't need" (ie. the emergency fund) in my checking/savings, and pay that "excess" towards the debt.

[@willowbei]

You have such a sincere and straight-forward approach to so many things. I like your style, and your attitude, and your "common man" way of Being in the world. What am I trying to say? Your energy is marvelous and your information is spot on. I am glad I found your channel. I continue to work on all aspects of my life - procrastinating on many things, yet making progress now and then. One of these days I hope to find that I have developed my minimalism from a concept to a reality. I will let you know when that happens.

[@mamamanaged2015]

A lot of really good points with real life examples that are very well expressed. Thank you for sharing your experiences and solutions!

[@RonaldLBanks]

Glad this was helpful my friend! I’m happy you enjoyed it!

[@yashupadhyay7874]

Genuine and uncluttered! Thanks for the video.

[@seekselfstrive]

found your channel yesterday and have already watched at least 5 videos. You have a calming voice and I love hearing the wise words of your father. ❤ I watch a lot of minimalist videos and decluttering videos and your channel is already my favourite. I found out I'm the overwhelmed declutterer. I literally don't know where to start and make more of a mess while going through my cupboards, so now I have plastic tubs in my lounge room full of stuff I have to further declutterer and its now been sitting there for a week coz just looking at it stresses me out 😞 Its going to be a very slow process for me but your advice has been helpful 😊

[@reginalddawson9258]

Excellent content!

[@RonaldLBanks]

Glad you enjoyed it Reginald!

[@fturner5562]

👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽 Great advice! Will definitely share this!

[@nickt9884]

Thank you once again-SO helpful. It's a mindset shift.

[@RonaldLBanks]

You are so welcome Nick! Keep growing on your journey my friend!

[@kakylong2]

In college, my Hubby had a full-time job but sold hotdogs & chips to hungry college students in the dorms. He made enough money to pay off the rest of the semester. We are debt free but do use a credit card that pays us back & has a 0% interest. It feels good not to have all that debt hanging over our heads. Now we're working on becoming minimalist...this seems harder than getting out of debt. 😊

[@davidprice7224]

Bravo to you!. You show a maturity that is beyond your years. Keep it up and you will ALWAYS be rich!

[@margal3120]

Your willingness to be vulnerable with us shows your emotional maturity and self-awareness and that’s commendable!! You deliver such an important message. Thank you!!

[@rchm7294]

I LOVE YOUR VIDEOS!!!

[@RonaldLBanks]

I love that you’re loving them!!! 🙌🏾 Thank you for giving me the opportunity to share with you!

[@sockscroptop7982]

A little irrelevant- but noticed in your video thumbnail that you have a diagonal line on your nail. Here in AU, they would tell us to get that checked for melanoma as some show that as a sign.Probably just nothing but you may want to point that out to your general practitioner in the next check up if not shown already😊 love your videos by the way!

[@mbaylee1974]

Product rich….wow! And ouch! Can relate. ❤

[@ONLY1KUDWE]

Such great advice and a great story. Keep up the great work.

[@sct4040]

You need a CC to book travels, not having one put you at a disadvantage. We all live in the 21st century. I am responsible financially while having 3 CC, paid all my bills with CC and get reward $ as credit toward my statement every month. 3% on groceries, etc.

[@simonedm111]

Great video, Ron. Becoming debt free is really the ultimate freedom.

[@RonaldLBanks]

Absolutely! I agree 100%. Becoming debt free was the best decision I made

[@iamlyrics9118]

I thank you and appreciate your TRANSPARENCY 💯💪🏼👏🏼🙏🏼

[@RonaldLBanks]

Always my friend!! 🙌🏾

[@krislatoya7556]

Funny enough, I got my 1st cc at 31 because I started realising I was using savings for food and gas and to get through the month. Now I have that trailing balance because I can't just pay the minimum balance and I can't pay it off in its entirety monthly 😧

[@callmeNeno]

How many bank accounts suffice?

[@arashy]

Congratulations on becoming debt free! Had to stop watching video near the end where you were holding your phone to take video-REALLY aggravated my vertigo 🤢

[@ktrudy1]

Great info ❤❤❤ty

[@RonaldLBanks]

Glad it was helpful!

[@rinainlondon8]

Never had debt but I realised something now

[@derrickwallace4187]

I wish I saw this before I bought my new car last year.

[@RonaldLBanks]

That’s ok! Devise a plan to pay it off as quickly as you can!

[@tahiyamarome]

Thank you so much. This video has come at the perfect time for me. I have gotten partway down the de clutter and undebt roads. I am a stage 4 cancer patient and the latest round of treatments has been rougher than others so far. I also had a seizure which suspended my lic for 3 mos. I have been struggling so hard to find the motivation to pick up and keep going. I am able to work part time and am trying to figure out all the loops and hoops of social sec and disability. I have a great team of helpers but i have been frozen arnd financial organizing. I bought this really great budget tool from a planner company that has a "clever" woodland dwelling mammal as a logo. But i've been so anxious about money i just froze up trying to use it. This video helped me calm down and remember i can break things down into smaller chunks. You are so calm and reassuring that i feel like i have a coach helping me out. I feel hopeful instead of ground down. Thank you so much. ❤

[@Celestialkarma]

God Bless Ronald

[@nickt9884]

product rich v. actually rich-YES

[@Zazimozi]

Best feeling ever. Permanent (word)

[@RonaldLBanks]

Best feeling ever! 🙌🏾 Glad you enjoyed this video my friend!

[@LaLa-le4ki]

Thank u

[@RonaldLBanks]

You’re welcome my friend! I’m glad you got value from this!

[@ethan.ty11]

How much money did you make during the 12 months of paying off debt?

[@matthewalexanderkatsock]

7:10 “Tracking your staily spending” haha. I once fumbled my words and said “looks like they put a fresh paint of coat on that”. Another great conversation. My only input would be that the few that can truly reap the benefits of credit cards can come out on top (vs. the companies). But solid advice would be to not risk it if you’re not confident.

[@teresafaircloth8783]

So true

[@cathylynnpietranton]

Hi Ron many years ago now I was a single mom and I did have credit card debt. I didn't make a lot of money and children always need something. Thank you ❤

[@tressalewis7004]

Great job, Ronald! Keep preaching that free living ;-)

[@RonaldLBanks]

Always! Glad you enjoyed this Tressa!

[@Addisondad55]

Good video, Ron!

[@RonaldLBanks]

Glad you enjoyed it my friend!

[@Celestialkarma]

God Bless

[@stevenpace1849]

I loved your tee shirt story. Here's mine: I went to U C Berkeley during the sixties. My buddy, George, dropped out during his freshman year to design tee shirts for tourists. He did well on Shatuck Ave and Fisherman's Wharf. One day, Jerry Garcia of the Grateful Dead spotted George's stand on the street corner. The rest, as they say, is history. Always follow your dreams. And don't let anyone tell you you're doing in wrong.

[@jamiecorisis6122]

Great video! This is a video to show teens and young adults who are just starting out, giving them a chance to get ahead in life and hopefully not fall into the pitfalls so many of us have done.

[@bstrong5016]

Hi Ronald. What do you think about debt related to a mortgage for your home?

[@therichbuddha3277]

That's good debt. Yes, there's such a thing, especially if you didn't buy to much home and it's value is appreciating.

[@ellensundestrand1326]

It's a necessary debt unless you're crazy rich and can drop hundreds of thousands at the drop of a hat. Best to be paid off as quickly as you can though.

[@RonaldLBanks]

I don’t see an issue with mortgage debt at all. I still believe you should double down and pay it off as quickly as you can though. Be intention and purposeful. Your income is your greatest asset. (Which is why I also believe you should have multiple streams of income-never rely solely on your job)

[@startpage717]

Yep. Student loan...if it wasn't for that I would owe no one.

[@RonaldLBanks]

Devise a plan to pay them off! You got this!

[@kallistoindrani5689]

👍👍👍👍

[@FABIOh1976]

Dislike for lack of Timestamps

[@UltimateOmegaRed]

This was a very helpful reminder. One that I clearly needed to hear. Thank you!

[@RonaldLBanks]

Glad it was helpful my friend!

[@Celestialkarma]

God Bless Ronald

[@RonaldLBanks]

God bless you as well Annanya!