Get Out of Debt

[@SchoolofPersonalFinance]

How are you doing during this crazy time? Are you worried about money and paying your bills?

[@Birdofgreen]

Love the intro! Debt snowball is one of the best debt reduction methods. Even if it is only an extra $20 a month you can still knock out huge amounts of debt years early with it. Great video once again!

[@SchoolofPersonalFinance]

Thanks Kevin!! Appreciate it.

[@snipergirl21]

Gave a like for your daughter's intro. She did such a good job! 👏🏼👏🏼👏🏼

[@SchoolofPersonalFinance]

Thank you! She said "you are awesome"!!

[@hustlealways-angikindslows4041]

Agreed earned my sub..lol

[@SchoolofPersonalFinance]

HustleAlways 💵👍👊

[@kylenhu916]

Love your video! This is so helpful!

[@SchoolofPersonalFinance]

Thanks!!

[@sylvesterlouis2658]

Excellent advice on eliminating credit card debt. It is a trap I fell for and taken a few years to detach from the monthly minimum mindset I became accustomed to. Big up to the debt snowball explanation. Its very liberating being on the path to becoming debt free. Thanks very much for this.

[@SchoolofPersonalFinance]

Thanks Sylvester!!

[@rockymntain]

Yes, you can pay down the loans, but there needs to be a mind reset to plug the hole in the dam to stop running the bills back up on the credit cards. A good place to start is to cancel the cards with the highest interest rates, then call the card companies and have them decrease the credit line. Let's face it, who needs to have more than $5K-6K of credit on a card. This is just asking for trouble if you don't put a cap on it. Need to learn to go without or save up for big ticket items. Credit card companies are enablers for impulse/reckless spending for many people.

[@SchoolofPersonalFinance]

Thanks for your comment! You are 💯 spot on.

[@moneybee]

WHAT A GREAT INTRO! Super cute, and great to see she's got a great financial role model! Great video, debt is such an important concept to cover. I love hearing similar financially minded people talk about ways to enable a positive financial future!

[@SchoolofPersonalFinance]

Thanks moneybee!! I have a feeling she will be making more appearances. Good luck with your channel. I subbed and will be rooting for you.

[@glennvannimaiquez315]

Thanks for explaining Dave's concept very clearly.

[@SchoolofPersonalFinance]

👍💵👊

[@adrianestefan1408]

Yes ,your daughter is so cute.🤗 Your videos have very interesting and valuable info.

[@SchoolofPersonalFinance]

Thanks Adrian!! I appreciate that! My daughter did the intro again on the video I just uploaded today. Go check it out!!

[@personalfinance9045]

Thanks to the current situation, with the virus, I've been out of work for 10 weeks now. Thankfully, I have $50,000 in my emergency fund! That's why it's important to have one!

[@SchoolofPersonalFinance]

Sorry to hear you’ve been out 10 weeks but that is great you have $50k set aside!!

[@personalfinance9045]

@@SchoolofPersonalFinance Exactly, whether we like it or not, the storm will come! Be ready!

[@ivonnemagdaleno952]

I loved the cameo intro. So sweet.

[@SchoolofPersonalFinance]

Thanks!!

[@carmenmariacortesmarin2664]

She is great!!! Love her introduction! Way to go!

[@SchoolofPersonalFinance]

Thanks Carmen!! 👍

[@Arlene_witha_y]

I just did this. Cut out mani pedis, lashes and Pilates classes. Affecting my beauty? Yea, but I’m throwing $400 more at my cards. I was actually doing fine reducing debt while still able to pay for these things before this stupid inflation but now that all the basics are higher: Groceries, electricity, insurance (home, car, health) taxes!!! Now my income to expense ratio is almost breaking even leaving me with $50 of disposable income per month, so i have to cut back on the things i liked before. Thanks inflation! 😡

[@SchoolofPersonalFinance]

It sucks.

[@matthall2506]

The intro was awesome! Great job dad

[@SchoolofPersonalFinance]

Thanks Matt 👍🙏

[@Financial_Awareness]

Love that your daughter got involved...adorable. Hope you enjoyed your family vacay! Debt sucks! lol

[@SchoolofPersonalFinance]

Financial Awareness with KScholl Thanks bro. Appreciate it!

[@Linda-bj3bb]

A credit card is a security blanket that you need to out grow. I told my ex to read a book by Allen Carr ..No more debt. Excellent book, but he just couldn't do it. When I met him he was in $8000 credit card debt. It went to $15000 and then $27000. It just snowballed in the wrong direction.

[@SchoolofPersonalFinance]

Yes. It can happen so quickly.

[@dianebarone1542]

So many people taking car loans for 7 years just to be able to afford the monthly payments - ridiculous. With everything closed these last few months and no one able to eat out, people should have been using the money they saved to pay off their debt. On a lighter note, your daughter is adorable and did a great job introducing your video. I see a future KZbinr in the making.

[@SchoolofPersonalFinance]

Thanks Diane! She definitely wants to be a KZbinr!!

[@kassidywithak925]

Thx

[@jamie5872]

Great video and so easy to understand the concept. Thanks

[@SchoolofPersonalFinance]

Thanks Jamie!!

[@mattgregory1653]

Great video!

[@SchoolofPersonalFinance]

Thanks man!! Appreciate it.

[@kassidywithak925]

Thank you snipergirl21 your so nice

[@netsurfer2975]

May we all be able to get out from underneath our debts. The biggest problem we have is we cannot count on life not throwing us insurmountable problems that create the very thing we are e trying to eliminate. In my latter years I do my best to pay everyone owed but if the circumstances do not allow me to continue, I will file bankruptcy with no hesitation. You will not be able to get credit as you know it today but on the other hand credit got you here in the first place. I hope this never happens to any of you but paying a lawyer a couple of grand for peace of mind and more money in your pocket is an alternative. Please do not construe my comments as advice because I am the last person to take advice from. Luckily, I personally do not have the need to have all the things available to want these days so my situation could be a lot worse. Good luck to you all.

[@chrisbagnatoesq.6440]

Should I pay off high interest credit card debt or an old reconciliation loan that has a high monthly payment?? Credit card debt gives me leverage incase I need it but then paying off the loan would give me larger cash flow?? I’ve been going back and forth. I’d be using a personal line to pay them off FYI.

[@jules3048]

Why wouldn’t u start w the highest interest debt? Specifically credit cards

[@maxwellmuller]

I'm a fan of your content I really love watching them all, it's something I look forward every time. I hope we can connect and work together! Have you considered hiring a video editor?

[@reneejones5675]

your daughter is really cute.. and these videos are interesting

[@SchoolofPersonalFinance]

Thank you Renee!!

[@reneejones5675]

your most welcome.. thanks for the videos.. I'm in new Zealand.. and I'm trying to buy my first house.. I made the mistake of getting a high interest loan and I had no idea how bad it was until I started this process..

[@carolg90]

Don’t we supposed to have a small balance in the credit card instead of paying it off to help us to have good credit

[@orioltorrecilla9378]

When you finish paying that you get in debt again because dont have any money

[@SchoolofPersonalFinance]

Truth

[@maggie3315]

She is too pretty what a cutie.❤️

[@SchoolofPersonalFinance]

Thanks!!

[@francesjuntunen4234]

You can not borrow your way out of debt!

[@SchoolofPersonalFinance]

Truth!

[@Marcus-lb6dv]

Just dont pay the card off and go back to using it before reaching your goal of paying them all off.