🥑 Debt Repayment Methods & How Cash Stuffing Can Help

Happy Thursday everyone! This "How To" mini series is an attempt to fill in some gaps for my new viewers who are just joining the cash budgeting community or thinking about it. Today's video highlights 3 Debt Busting Methods and how cash stuffing can help you achieve your debt payoff goals. We dive into what each method is, how to chose the right one for you and what each one looks like for my friend Rachel's personal situation. Thank you again for watching! I appreciate your support so much! And please don't forget to let those ads run as a way of saying thank you for this content! 💗💗💗
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🚨DISCLAIMER: I am not a financial advisor nor qualified to give financial advice. This channel is meant for entertainment purposes only. Please seek a professional for your financial goals and questions.🚨
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[@falyssamayhew7285]

Very informative video. My next paycheck will payoff the larger of my two credit cards. So proud of myself for paying off a $1460 emergency in 8 months! Especially as someone that is low income.

[@HeyKayBudgets]

That is amazing Falyssa! You are doing so great friend! So proud of you! ❤

[@Lifewithmrsvee]

I love the snowball method! First time hearing about cash flow method.

[@AprilsFreshStart]

Awesome video! Super helpful and informative

[@Pamcatmom]

I loved this video. I start off okay then I’m such an emotional spender that I ended up going backwards. I need all the help I can get to inspire me. You are wonderful to listen to with your calming voice and you explain everything so well.

[@deeplansandbudgets]

Another great informational video Kay. We live in a society where people get Electronic Pay, have their bills electronically deducted and swipe to pay everything. We have no relationship to our money. Using Cash stuffing either real or prop, makes all those numbers real. It is so valuable to a person who is just not in touch with their spending.

[@HeyKayBudgets]

So well said Dee! Thank you for your comment friend! 💕

[@ThriftyAsian]

Love this series so much. I do the cash flow and also the snow ball method and it’s been working for me! ❤

[@diannerichards6018]

I do the snowball method for the most part but there was 1 bill that was on my nerves and making me angry for personal reasons so I jumped off track and paided it off and now I'm back on track with snowball 😊😊 yes its harder to spend cash 💸 💰 💯. We have been married for 36 years and we have joint everything. Great video today. I've paided off 4 debt total of 17k so far and I'm so happy it's been 9 months since I started the cash method and took control of my money 😊😊 it works I still have some cc debt to go before I tackle the car and house but it works and I love it

[@HeyKayBudgets]

What an amazing testament to the cash stuffing method Dianne! and I completely understand a bill getting on your nerves!!! 💯💯💯 I've jumped off the snowball before too just to get rid of a bill! Wow $17K that is amazing! 👏👏👏

[@jldeville1]

This was awesome. I love this video. Very helpful. Thank you.

[@baylover1970]

Good morning Kay! Great information. I just payed off my car, next is the CC and saving for a reunion trip for next year. Thank you.

[@melissasprings7741]

Hey Kay! I have to say, I’m really enjoying your new series. It’s not only informative but also much-needed in the budgeting community. We all need to be more aware and educated about achieving a financially free lifestyle. 😀Keep it up! 👩🏼‍🏫📖💸🏦

[@HeyKayBudgets]

So well said Melissa! Thank you for sharing your comment!

[@DawnsSunriseBudgeting]

Thank you for doing this video! I just started this method in January and I do find I am changing the way I spend and save and paying off debt!!! I need to do the debt tracking. I have a couple of challenges for it. Just need to sit down and do it. I think it will help see what I have accomplished

[@HeyKayBudgets]

Yes dawn! It will be much more motivating with a tracker. One day you'll look up and go WOW I did that!!!

[@DawnsSunriseBudgeting]

@@HeyKayBudgets I started a tracker yesterday with one of the cards I am snowballing. I was going to do my whole debt but decided to do one card at a time so I could see more progress.

[@shaundegilchrist5205]

Currently I am working on my CC. It was maxed out at $2000. I started making minimum payments, but after the interest kicked it didn’t feel like I was making no progress. After committing to $100 a month, I saw progress. Thanks to savings challenges and reallocation of any extra money, I am at $720! It is so fun to just look at the numbers and see how close I am to paying it off. To get to $1000 EF, I am sending money to various bank accounts. I am also investing as well. I might be out of order with my steps but I am proud bc even though the money is just sitting there, it’s more money than I had.

[@HeyKayBudgets]

I think it's great you are trying to get more aggressive on that debt payoff. Your new balance definitely proves you are working hard on paying that CC off! It's so motivating for me too to see those numbers go down! Great job! The $1K in Emergency is so important too. You're doing great friend! 💕

[@budgetwithtiffany26]

Happy Thursday Kay! Great video!!!

[@rachelswartz4963]

Calculator was awesome. Seeing it all laid out with an amortization schedule was very encouraging and motivating.

[@HeyKayBudgets]

Thanks Rachel! Glad the calculator is helpful for you! We got to hate that debt and to me that calculator is the right tool for that job! lol Thank you for watching! 💕

[@OdettesBudgetingLife]

Thank you. I found this very I formative❤❤❤

[@simplylivingsaves]

I loved, loved this video Kay! Another option she could think about is to still get together with her uncle and children once a week but cook a meal at her house or the uncle's house instead just for a short period of time. Maybe have a make your own pizza night every week! Kids love doing stuff like that! I really wish her husband was on board because they probably could knock out that 7K debt easily by the 10-month deadline. Maybe she could have another conversation with her husband and express how important paying off this debt is to her and how this would lift such a burden and weight off of her shoulders. Maybe that would convince him to chip in at least the 2K she needs! Maybe him seeing how hard she is working to pay off debt might change his mind and he might get on board! I'm so excited for her and wish her the best of luck in her debt payoff journey! Me and my husband have combined finances! We are completely debt free including mortgage and it is just a great feeling! We always had the same goal of paying off debt as soon as possible but we don't always agree on how money is spent! He is a spender and I'm a saver; therefore, I'm the main person that takes care of our finances!

[@HeyKayBudgets]

Great idea of dinner at home Jenny! I need to get on board with this idea for myself! lol I do hope the best for Rachel and her husband! And if she ends up being the role model i think she'll be for her girls, then dad may start to get FOMO! One can hope! 😂 🤞🏽🤞🏽

[@Sjohnson324]

Hey Kay, thank you so much for taking the time to explain the different methods for debt payoff. I am becoming morre serious about paying off my debt. I can definitely see the snowball method will work for me.❤

[@HeyKayBudgets]

Thanks Stacy! Yay glad it was helpful! Build yourself a debt payoff plan girl, you got this!! 💕

[@CraftAndBudgetWithAnh]

Hi Kay. I am currently using the snowball method in conjunction with the avalanche method. It's weird but it works for us. This is very informative. I don't think you left anything out.

[@savewithjudy]

Hello Kay! Enjoying your video this evening my friend.❤❤

[@HeyKayBudgets]

Hello Judy! Thank you for the visit friend! 💕

[@BudgetingwithTracey]

Hey Kay, great video!! 😊😊

[@SimplyMade]

This is amazing!! You are so informative and using a real life example was great. I’m definitely going to try out the calculator. Thank you for sharing 😊

[@HeyKayBudgets]

Thanks Shy! Hope the calculator is helpful for you! 💕

[@carolynbyrd5656]

The calculator is awesome Thank you. Very informative..

[@HeyKayBudgets]

Hey Carolyn! Hope the calculator is helpful! Thank you for watching! 💕

[@kelly10921]

Fantastic video!! Love the calculator! Very motivating and I can’t wait to start the snowball/avalanche. Thank you!

[@HeyKayBudgets]

Thanks Kelly! Hope the calculator is helpful for you! We got to hate that debt and to me that calculator is the right tool for that job! lol Thank you for watching! 💕

[@Chatty-KathyBudgets]

💜💜💜 amazing explanation my friend 😊. I’ve never heard of the cash flow method but it’s very interesting 💜💜💜

[@HeyKayBudgets]

Hope it was helpful Kathy! It's just another way to look at things. Thank you for watching sweet friend! 💕

[@Mah_fb]

Hey Key, I've so busy but I'm herr! Thanks for the informative videos...I love the how tos🎉🎉

[@HeyKayBudgets]

Hope it was helpful! Thank you for watching! 💕

[@LaineyBugBudgets]

Love that you're doing these videos friend ❤️ So informative and get me to thinking about different ways to become debt free faster

[@HeyKayBudgets]

Thanks Melissa! Yay glad it was helpful! Thank you for watching friend! 💕

[@Egggatherer]

Well done!!

[@cindywatson3083]

Awesome information

[@cashandcolorbudget]

I Kay!! Great video!!! I started with the snowball effect! And it helped so much!! I need to get back on it to pay off debt again. Thank you for this video, I’ve learned a couple of things from the other 2 way to pay off debt that I had no idea. So thank you❤ have a great day!

[@HeyKayBudgets]

Hi Mayra! Glad info on the other two methods was helpful! Thank you for watching! 💕

[@Autumn-1492]

Wow! Love the calculator! Thank you so much for this video! Just subscribed!

[@HeyKayBudgets]

Awesome! Thank you for the sub! Hope the calculator is helpful! Thank you for watching! 💕

[@blessedbudgetsbyAbigail]

Thanks Kay Can you please go over in more details on the cash flow index method? Thank you for this video

[@OverthinkingandBudgeting1]

Hi Kay! Thank you so much for this video, it's so helpful! 💚

[@HeyKayBudgets]

Glad it was helpful Stephanie! Thank you for watching sweet friend! 💕

[@sandrashomaker8094]

Thanks for all the information very helpful.

[@HeyKayBudgets]

Awesome! Thanks for watching Sandra!

[@stephanie932]

This was an awesome video! Thanks for such an informative video!

[@HeyKayBudgets]

Hey Stephanie! Glad it was helpful!

[@BudgetingRose]

Great video Kay. Perfect how to 😊

[@HeyKayBudgets]

Thanks Krystal! 💕

[@alexandraalemany8314]

Great video, I already have my emercency fund and no debt 🎉 trying to add a new $1000 emergency for health and at the same time a month ahead

[@HeyKayBudgets]

LOVE IT Alexandra! Two great new savings goals! 👏👏👏

[@brazilian-cash-stuffer]

Great video!! Information delivered very easy to understand! Thank you for taking your time to explain it to us! 😊

[@HeyKayBudgets]

I just hope it was helpful and people get ideas on how they can find uccess for themselves! Thank you for watching friend! ❤

[@SaveTravelRepeat]

This is a great video!!! Thank you!!!

[@HeyKayBudgets]

Thanks friend! Hope it was helpful! Thank you for watching! 💕

[@Shouxettee]

Hi Kay,🙂 Thank you so much for this amazing video! I’ve learned a lot about how you manage savings in the USA. I’m in France, and we don’t have particularly high interest rates on credit cards, so I approach budgeting a little differently. But I really love your ideas and videos! 💛 You’ve inspired me to try more mini-challenges and make it more fun.🎲 I have a question-would it be okay if I adapted your DinDingDong challenge to use with Euros here in France? I think it would be a great way for the French and European budgeting community to discover a fun and motivating way to save! I’d be thrilled to chat more with you through messages if you’re open to it.

[@HeyKayBudgets]

Hey friend! So the Din ding Ding challenge was created by DonnaPoweredByCreativity her on YT but you can make one that fits better for you in Euros for sure! It's all about celebrating your accomplishments and I would love to see what you come up with!

[@kathysnyder3881]

Great video!

[@HeyKayBudgets]

Hey Kathy! Hope it was helpful! Thank you for watching! 💕

[@sheilalassiter8223]

Good Morning!😊

[@HeyKayBudgets]

👋 Sheila!

[@wilmaakastitchedbyjean3679]

Watching while preparing supper

[@HeyKayBudgets]

Hi Wilma! Hope you're having a good week friend! It's almost the weekend!!

[@Elysia07]

rachels question adresses a lot of the thing i had been wondering as well. I'm interested in knowing your process of what gets you do the binders with the cash to stuff.

[@HeyKayBudgets]

Hey Elysia! You mean how do I budget for the binder stuffings?

[@Elysia07]

@@HeyKayBudgets Yes. I'm curious about the whole process. Maybe some earlier videos would shed some light on this. Maybe I'm missing something along the way. The money you put toward your cash challege binders, is that accounted in your monthly budget set up? Then of the total amount, you spit it into different amounts for different challenge goals? I'm not sure if that makes sense. I still find watching entertaining without knowing all those details.

[@zainabbegum2728]

Please can you make a video on ; Title: How to Create a Budget Without a Tracker and Manage It Without a Fixed Income. As always Loved your video ❤

[@HeyKayBudgets]

Hey girl! Not sure I understand what you mean about a budget without a tracker but I can definitely help with how I do a budget on a variable income!

[@Builditbigbudgets]

Great video Kay!!! :) 26:33

[@HeyKayBudgets]

Thanks love! 💕

[@terricastable]

❤

[@dyingoutlaw9676]

Hi friend 💚

[@HeyKayBudgets]

Hello friend! 😊

[@bethbeckermeyer1732]

💲💲💲

[@jackieaxel2957]

Hello 👋

[@Elysia07]

For our anniversary, I got my BF a year worth of savings scratchers to help him begin to build his emergency fund. but my over analytical brain keeps saying, well if we know this is going to result in him moving 100 dollars to savings at the end of the month, why not just move 100 dollars to savings. . . .grr silly over-thinky brain gives me no peace.

[@HeyKayBudgets]

LOL It's not the money! It's the behavior that we are trying to learn! You're helping him strengthen his savings muscle and girl if y'all wind up together for the long term, you want a man that saves for the future!

[@Elysia07]

@@HeyKayBudgets so true! 😃

[@PansyBudgets]

Hey Kay!! Thank you so much for this informative/ educational video!!🩷

[@HeyKayBudgets]

Hope it was helpful! Thank you for watching! 💕

[@Heyladybudget]

Great video and very informative 😊

[@HeyKayBudgets]

Hey Lady! Glad it was helpful! ❤

[@Mimibudgets]

Love this! You are a great teacher - Thank you to Justin!

[@HeyKayBudgets]

Justin says youre welcome! 🤣 He keeps tweaking his calculator so I'm sure it will evolve more over time and get better and better!

[@KaySoBlessed1]

Happy Thursday Kay! Awesome information!😊

[@HeyKayBudgets]

Hey Kay! Hope it was helpful! Thank you for watching! 💕

[@lenat946]

This was an amazing video!! Thank u for all of ur hardwork!❤

[@HeyKayBudgets]

Hope it was helpful! Thank you for watching Lena! 💕