Millions Have Done This to Pay Off Debt Fast

[@JayMontgomery]

I'm on Baby Step 2! Started in 2018 and making a lot of headway! Loving your book "Love Your Life Not Theirs" as well.

[@alycewich4472]

@Jay Montgomery - GOOD. FOR. YOU!

[@sibongilezindela4358]

@JayM, Same here! Started late 2018 Today I completed Baby Step 2! Hurray!!! Left with my Mortgage payment! Feeling fantastic!

[@JayMontgomery]

@@sibongilezindela4358 woot woot!!! Hopefully I'll be done in the next few months.

[@mrcausey]

I am now debt-free for the first time in my life and the debt snowball created the intensity that kept me going.

[@candiecandelario3056]

Just started the baby steps last week, have to continue looking at videos listening to testimonies to help not get discouraged in the process congratulation to everyone who has achieved it. One day will scream out debt-free!!!!

[@alexshewan]

Thanks to you all, I've just paid out the fee and returned my leased vehicle to get out of those nasty payments and rebuild my financial wellness. On the road to to success! Thank you all for the lifechanging advice everyday.

[@MikeThePike316]

Did you do an early buyout/sell or simply turn over the car? I've wanted to get out of my lease too. Could you please walk me through how everything worked out for you?

[@alexshewan]

@@MikeThePike316 Hey Mike, I did an early sell as I had 2 years remaining on my lease. The dealership basically purchased the vehicle off of me at a value that they were prepared to offer and still remain profitable on the sale. This value they offered me is then deducted from the buyout value of the vehicle (note: the buyout value is NOT the remaining balance of the lease), and I paid the difference between the buyout value and the value they offered me. I still had to pay out of pocket of course to sell the car to them, but it got me out of the lease and saved me over $10K in the next two years time in payments alone. As far as I know, the vehicle does not need to be sold back to the dealership you obtained it from, so you can shop around with different dealerships to see who can offer you the highest buyout price on the vehicle. You will likely still be paying a fee (that being the difference), but it's worth it.

[@MikeThePike316]

@@alexshewan - I really appreciate the feedback. It was very helpful in trying to conceptualize the process. Unfortunately, it didn't quite work out the way I hoped. The out of pocket expense we would owe by selling back to the dealer far exceeds our remaining balance if we keep the lease. Needless to say, this is the first and last time we lease. Thanks again.

[@shawnsgirl4ever1]

We’re only 55000 until debt free! It’s all students loans! We have no mortgage car notes

[@alycewich4472]

@Debtfreeliving4ever Steen GOOD. FOR. YOU!

[@brandijordan9969]

Soooo motivating!!! Made me cry. Felt so personal and relatable.

[@chriss7552]

Hi, I got your new book. Baby step 2. Covid hit me hard. cut off all credit cards. Thanks a lot . Very challenging .

[@rrrrrfffff]

Good luck!!!

[@acyndoc]

That was sooo great!! Congratulations Julia and hubby!

[@Je.rone_]

Yeah a lot of people see having vehicle debt as a fact of life especially... by the time they pay off car 1 it's on to car New

[@marybetheby5184]

That cycle never ends either...

[@judgelytle1382]

Whether you like it or not the truth remains that we all want a good credit score, the merits of having a good credit score cannot be overemphasized, that said I would like to inform you that there is a credit hack company that can get your credit fixed in 8 days. Sounds impossible right? Yea, it is because I thought so too. I had a medical condition which put me through a lot, things were not working out, it cost me a lot, let me spare you the tale of my woes and give you the good news I had a credit score of 340 as at last year before a friend told me about Johnnie Hacks LLC, initially, I was skeptical but they have been able to increase my score to 822. You might want to contact them via their website JohnnieHacksLLC. Org

[@MikeThePike316]

So true. My car payment was nearly $500 for a 6-year term, but I paid it off earlier. Never again. I could've put that extra money towards my student loans.

[@KittyKat-vb1nd]

American mindset.

[@KittyKat-vb1nd]

@@marybetheby5184 By design to keep Americans as wage serfs. Cradle to grave debt. I grew up in a traditional Caribbean family. So thankful I was not brought up with that mindset to live of life of debt. That's no quality of life.

[@jazminlozano5098]

ugh... 18-24 months. we're 12.5 months in 20k paid out of $101k i'm shooting for Dec 2022!!

[@BackroadMoney]

Good job, keep going!

[@amandahsu2704]

Working on the last debt!!! Cannot wait!!! 😆

[@tsoump589]

After watching this, I paid off 3 of my credit cards all added up to 5k. Feels good!

[@transparentfxacademy6306]

Thanks for watching Talk with my trader

[@transparentfxacademy6306]

Enward Henry [phone]..8..9..3 ✅ 🇺🇸

[@transparentfxacademy6306]

For trading

[@staceybaird289]

I love how you (Rachel Cruze and Mr.Dave Ramsey)two about finance s and getting out of debt .I need to know how to get out of debt now

[@reach4thestars67]

YR 2021, I will complete baby step 2! Also, I will be turning 60 years old!

[@mintb3868]

Congrats! You can relax and enjoy your hard work now!~

[@thatsmi3369]

It's so nice they weren't too attached to their home and sold their house so they could be debt free. That feeling is unlike any other!

[@winthaoo]

Your dad is a natural speaker, but your speaking brings me in to listen.

[@MikeThePike316]

She's seems very sincere and trusting.

[@grimgrookey649]

October 2021 I will be done with baby step 2! Thanks to your guidance 😇

[@mariacorretge6615]

Most inspired episode ever. I'm so happy I watched this.It's happening!

[@KeepingUpWithTheKenneys]

We actually did a similar series on our channel last July! We love Dave he has allowed us to start our marriage debt free and now we spend our time teaching why it is so great!! ❤️

[@3rdsidetriangle]

I'm about to payoff my personal loan Feb 2021 and auto #1 by Dec 2021!!! Projected to payoff auto loan #2 by the end of 2022!! I am beyond excited!!

[@deborahjackson6108]

I’m on baby step 2, having a slow start cuz I needed a new set of tires.

[@laurachristou5887]

Good evening lady! I shredded one of my bank cards yesterday!

[@Rashaadthegr8]

The great thing is my smallest debt are the ones with the highest interest. Win win.

[@youngtimer964]

Sorry I don’t understand. Who are the two winners?

[@Rashaadthegr8]

@@youngtimer964 I didn't say two winners. The snowball effect starts with the smallest loan regardless of interest the avalanche method is highest interest first. So my smallest debt had the highest interest aka a hybrid approach.

[@Taking_Back_Thyme]

No credit cards, no mortgage (living with my 97yo mother as her caregiver, no car payments. I just started using the budget program. Feels so good. We have about $35,000 invested with Fidelity and a rather large inheritance when my mother passes away. In the meantime, we are saving as much as we can and looking for a new place to live when the time comes. I hate to say this, but we are native Californians and we desperately want to move. Ive been looking at different states, but I have to say, having a target on out butts isn’t a good feeling. Im open, but I’m not a fan of heavy snow and freezing temperatures. Advice would be appreciated.

[@jimmyfritz8240]

I’m $18k in debt. Income $40k a year. Hopefully be debt free in a year and I can focus on the other baby steps. I don’t have any kids and single so I don’t have save for a college I can focus on my mortgage.

[@SteffyRabbitheart]

I am just starting out and I am scared but excited.

[@Pandorash8]

You got this Stephani 💪🏻

[@SteffyRabbitheart]

@@Pandorash8 Thank you so much.

[@lindabacaphotography]

I love how you making saving money funny! "I need a credit card for an emergency!" Banana Republic cannot fix an emergency! hahahaha retail therapy! Love listening to you and your dad. Thank you for looking out for us! God bless you.

[@dodgers4444]

I used to dream about winning millions of dollars. I don't care about it anymore. I still would take the money but, I don't need to dream about having to pay my debt off

[@charanjit7427]

We can do it guys! Let's go....

[@rick6582CNCMedicalParts]

Great like the snowball technique for paying off bills..thanks

[@rick6582CNCMedicalParts]

Unfortunately am a car "nut" but no car payments all done & not buying anymore cars after looking at you and Dave's don't have car payments but I do have bills thanks again great advice will work with wife on a plan..

[@topsykretts2264]

Got chills from their scream. So inspiring.

[@thelmaespinel8558]

I love hearing those debt free scream , bravo 👏👏👏

[@frogginator-x]

Congratulations Julia + Sam!!!

[@Endwatcher7]

Good content. So glad this debt relief bill DID not go into effect. People need to live within their means and I get it is tough, but its no different from past generations.

[@WellBehavedWallet]

Great news! It starts by deciding that it's possible.

[@lindabacaphotography]

this was awesome! thank you so much for always inspiring!

[@youngtimer964]

I enjoy living life without debt. I do use credit card for convenience and safety.

[@ivonneedithl]

Amazing video, congratulations to this couple!

[@thomasokeefe3081]

Question Rachel..What is your take on the DBDC rollout ?

[@moneybee]

It's always a great day when you get to start it hearing a debt free scream!

[@WildOutdoorLiving]

So happy to be out of debt right now. Definitely need to make more money now though haha!

[@BackroadMoney]

We paid off 42,000 in less than 2 years making 80k. In those 2 years we also cashflowed Dr and Dentist bills to the tune of 12,000. It can be done and it works!

[@JohnsDeb]

You’ve got to include interest in the minimum payment or you will get no where trying to pay down debt.

[@salamancamayra5464]

Rachel, I like your sweater.

[@Littlepoiful]

Me too! Where is it from? Anyone know?

[@sandramartinez5711]

Loving the series!!

[@katyedwards3935]

Even though I have a credit card, I'm still living a debt-free life because I pay it off every time I get a statement so I don't have any interest. No interest= no debt, no debt= living happily on step 4.

[@stacylevy5926]

Hi Rachel, I was wondering if one’s mortgage has to be paid off to do a “Debt Free Scream,” since it’s technically a debt. My husband & I are doing Baby Step 2 with gazelle intensity. Thank you.

[@goughbrandon]

I'm curious of this too

[@zackarystewart9214]

Yes. By definition debt free means no loans. This includes a mortgage

[@miawook]

I think u can still do the scream

[@twanda1999]

My understanding is that after Baby Step two is complete! Home paid off is in Baby Step 6.

[@Pandorash8]

You do not need to have the mortgage paid off to do your debt-free scream. Think of it more like, a “consumer debt-free scream.” Keep stepping ✌🏻

[@briannatimberlake8028]

I didn’t get the not caring about interest rate. I don’t know if the system in America is different from where I am, but minimum payments do not prevent you from paying interest( especially on like a credit card if you have a heck of a bill on it) I think that costs me more money if I just leave them there. That’s the only part ion get. The snowball sounds like a grand idea but while I pay off other debts I rack up a heck of a bill.

[@desereevelasquez7198]

Just ordered my debt according to the Snow Ball method. My smallest account is a private student loan, that went to collections. I am not incurring interest on it but have been making large payments on it. Thanks to that, I have paid it down significantly. I'm wondering if a debt with no APR or on a hold (Navient due to Covid) should be placed on the back of the list and I should focus on the ones that are incurring interest instead? Or still include them in the Snow Ball method? Been sitting here just looking at these accounts wondering why I allowed myself to do this to myself. Any advice here?

[@love_the_kitchen8418]

Great motivation!👩🏽‍🍳

[@simplyw_daniela9536]

Awww love it! So proud of them. My husband and I are on that route. 🤍

[@love_the_kitchen8418]

Thank you!

[@mqmoreno2368]

I'm on baby step 2 🤗 i'm only 20,000 in debt between credit cards and my auto loan i'm almost done with my credit cards now and going to jump on that auto loan with bad intentions 🤬🤬

[@user-so1wr2oh1t]

Nothing wrong with a store credit card. You get free shipping and special discounts. Just pay it off immediately!

[@xoxobee13]

I tried doing this, making minimal payments etc but it made the bill even higher

[@rick6582CNCMedicalParts]

Same ..I've been trying to put more than minimum but not easy

[@alycewich4472]

When we did it decades ago, when the interest rates on credit cards was 18% to 24% we discovered that we had to pay more than the minimum as it DID make the bill higher. So we paid at least the minimum plus the interest for that month. That way we were at least staying current on them. We also cut back on the groceries to the point that if anyone had something in their pantry they didn't want, we took it and ate it. People were shocked at how low our grocery budget was.

[@Tracklife_Deon]

Where the books?

[@mariselaleyva9420]

I'm consumer debt free i have a question... I'm 27000 in student loan... but I wanted to go back to school...I know I'm not gonna put anymore student loans anymore... but idk if I should just save up all the money I can and no pay on the student loan until I grad in 2 years or save less and pay some in the student loan

[@mickeymichelle9067]

Awaiting the day

[@lorrainebaldridge568]

Awesome!

[@SFergu-qw6lh]

Due to the pandemic has dave rethought the 1000 starter emergency fund. I am pay off debt but increasing my emergency fund to one month of bills to fill more comfortable if something happens.

[@HobbyistPrinter]

He did make a change in one of the newer editions of his book saying that the emergency fund should be 1000 per every 20,000 you make. So I put my emergency fund to 5000 and ended up using 3000 after covid.

[@SFergu-qw6lh]

@@HobbyistPrinter thank you for that information. I have not read any of hos news books. That seems better. Have one month worth of expenses make ne feel better paying off debt.

[@nadinefrandsen6087]

So since they sold their house, where do they live now? I must have missed something.

[@raevalverde7757]

I too am creating a snowball to pay off debt. However, I noticed in this video the couple sold their home to pay off debt; was that a smart financial decision? I assume they are now renting and no longer have the tax deduction.

[@alycewich4472]

@Rae Valverde - for them it was. They can now buy another house without any other debt.

[@mrsh2167]

no to store credit cards

[@GusDaCosta]

how do you get rid of a car when it's not worth as much as you owe?

[@PrinceofSpades53]

This is a tough one, because either way you're gonna have to pay off that car. If you like the car, keep it and just get aggressive with paying it off. If you can't afford to keep it, you'll have to sell it and roll over what you owe onto a cheaper car that you can afford and then get aggressive in paying that off. You could also save up $5K and buy a $5K car with cash. Sell the other car and then, again, get aggressive with paying off what you owe on it.

[@Pandorash8]

Dave and Chris usually recommend getting an unsecured loan, if you can, for the difference. Then sell the car and use the proceeds from the sale along with the loan amount to pay out the vehicle loan. This requires you buy a new car with cash first. There are lots of guidelines Dave uses around cars. Too many for me to remember and list. I recommend calling in to either Dave or Chris Hogan and getting their advice for your exact situation.

[@ellewoods4568]

Great! 👍🏼👍🏼✨

[@ericeandco]

Nice thought.

[@NaturalElicia]

ok did I miss something because I did walk out the room a few times. But did they not share their income?

[@Pandorash8]

They never share their income when one of the screamers is a Ramsey employee.

[@youngtimer964]

@@Pandorash8 wonder why????

[@ashleylynnisin]

I love this sweater. That is all.

[@davidmilhouscarter8198]

It’s just a season.

[@prettyqueen573]

It makes absolutely no sense to pay off debt BEFORE saving 3- 6 months of expenses (in case you lose your job). It doesn't make sense when Dave R says it or when anyone else does. Baby Step #2 & #3 should switch places.

[@tlbelt]

I disagree. Most people starting their debt free journey have trouble saving $1000 for their baby step one... now you want them to save $10000 when they are drowning in debt? Did you really think this through?

[@mikwit]

Three months of expenses with debt payments and three months of expenses after payments can be way different. Need to confront the mistakes and feel the real risk to get into gear and make the change.

[@username00009]

Dave is on record saying that the two steps can be flipped depending on your circumstances. E.g., if you’re in an unstable job market, work as a contractor, etc.

[@prettyqueen573]

@@tlbelt actually I did think it through which I said what I said. We are in the midst of pandemic (unless you live on some other planet, Tracy) and job stability is a huge problem. So again why pay debt off that could possibly be at minimum $10,000-15,000 BEFORE saving 3-6 months of expenses. I understand people like you probably don't know how to think for themselves and comprehension is probably not a top skill of yours so common sense may not make sense to you.

[@MikeThePike316]

They never mentioned the range of income lol

[@youngtimer964]

Get rid of the annoying background music.

[@devinparker1748]

2 years in BS 2 comes to an end next week!!! on the BS 3 !!!!

[@brookekahue76]

Hello

[@dougprentice1363]

When they say "debt free" ... Does that mean house is paid off?

[@judgelytle1382]

Yes

[@JacobBall75]

Weeeell, in THIS case they SOLD their house to clear the last of the student debt, so sure, they’re debt free, with no house. Definitely not what I would do just to say ‘Debt Free in 34 Months’, but hey, each to their own.

[@rubytimbers397]

Rachel I was disappointed with my Rachel Cruze wallet! The inside was ok but the outside was very cheap looking

[@youngtimer964]

Remember what organization she is a part of. Don’t expect a good deal for you. They are just trying to get rich off of you.

[@24hourcar]

Someone call the FTC!!

[@username00009]

Make a review video

[@24hourcar]

@@username00009 I was being sarcastic

[@ronjohnsonjr.2662]

Daves face when Rachaels senior marketer sold her house to get out of debt was priceless. He was NOT down with that decision. He did not know that did that. Dave would not recommend doing that

[@keithmuhati]

Pay off your debt within the shortest period possible using this strategy. Go on to Great Wealth Strategies LLC to find out more.

[@frenchiemunchie8939]

😭😭😭

[@capretadoc]

[@mh-bd9re]

Makes ya wonder how much her dad charges her to spew the same old out of date stuff?

[@rrrrrfffff]

How is it out of date if it's the whole foundation of their program??? 🤷‍♀️

[@username00009]

It’s not outdated (it still works), but I agree that people will be better off if they internalize the concepts and then learn more beyond what Dave teaches. JL Collins (blogger & published author), ChooseFi (podcast & FB community), and the Mad FIentist (blogger & podcaster) are my favorites.