How Do I Recover After Paying Off Debt?

[@kimberlyturner820]

I could listen to the caller talk for hours. Very nice voice.

[@fishnsteve]

Agreed

[@Ann-o3p1d]

I just this second became debt free! Praise God!!! Thank you Dave!! I’m FREEEEE!!!😂

[@vinyldeneresin]

7 months later, I hope you're still going strong!

[@Ann-o3p1d]

@@vinyldeneresin Yes I am, by God Grace, Mercy and Love I’m still going!! In Jesus name I will remain that way. Now I’m building. Yes, 7 months later it still feels great. I have a feeling you are too. Thank you for the comment ❤️

[@thomasveleba9261]

Congrats!

[@itguru2037]

Now comes the hard part. Finding purpose

[@jenniferw8963]

What I realized after getting out of debt, is that all money in the bank is no longer money to be spent but money to be invested. And then only draw from the invested money for things you truly need. Personally I dont' like it when I see my invested money deplete so I really do only buy things which truly improve my quality of life.

[@bigpicturethinking5620]

Stated perfectly. And this is is the thought process only someone who has been in debt can truly appreciate.

[@thelovelykimmi7920]

I love the book “Atomic Habits!” It’s helped me tremendously! I need to re read just to help me fine tune my life.

[@thaladiescorner9989]

Been on my table for a while, def. Starting it over Today 💪🏽

[@Neddie2k]

I found the book difficult to read 😜

[@jesusdelapaz1988]

That book changed my life. Definitely need multiple reads.

[@thelovelykimmi7920]

@@thaladiescorner9989 it’s worth it!

[@thelovelykimmi7920]

@@Neddie2k The Slight Edge is another book or The Motivation Manifesto might be more up your alley. All great reads and focus on creating small changes to make a big impact

[@fhuber7507]

Paying off debt IS THE RECOVERY... from debt. Keep the habits of staying out of debt. Once out of debt, you can start saving for wants while also taking some of that money you paid every month toward the debt to use for enjoyment.

[@AnimatedIdiotGuide]

Or, and hear me out, just don’t. If you live your life searching for material bullshit to waste money on you’ve learned nothing from debt and deserve to go back to it.

[@neerajchopra6809]

Mr dave Ramsey is a godsent man . Grandiosity leads to debt . Let's all aim to be debt free .

[@davidsonmg]

Great advice! If you can't figure out who you want to be, then figure out who you don't want to be!

[@bailey-k6b]

Don't overthink things. Take your foot off the pedal, relax, be proud.

[@deanalbertson7203]

Baby step 3, save 6 months expenses in a savings account.

[@nic_ccc3366]

Great for this couple. They’ve been in debt so long they don’t remember what it feels to be free! Don’t get back into the bad habits that got you in that mess in the first place.

[@davidadler895]

This is the best episode yet! Really helps you frame out your purpose. I just made my list. Thank you!

[@wellsbibo6175]

Financial independence should bring forward your truest self unshackled from the chains of debt.

[@itguru2037]

So many people have no idea what their purpose is and paying off debt gave them purpose. Now they are debt free and depressed. Being debt free doesn’t mean happiness. The challenge in life is what gives purpose

[@SeanBaker]

I'm the guy who says no. You can invite me, but I'm going to say no. Just leave me to sit here and watch TV and sit my backyard in peace with no debt payments of any kind. 🤣

[@Sheryl777]

Can we bring food and sit in the backyard and watch tv with you? Or no? lol Being silly I know, but it sounds like you don't especially enjoy company though, so it might be best to just let you be so that you can enjoy yourself.

[@SeanBaker]

@@Sheryl777 Bring it right over! I don't dislike company at all, but I'm one who is not bothered by solitude.

[@peartfaldo]

@@SeanBaker you're comfortable with yourself. you dont need a distraction.

[@treeroofgrass]

@@SeanBaker “not bothered by solitude” I love that! that’s how I am!! 👍👍

[@carlyanhel3457]

This energy for life

[@ZedGirl]

I am pursuing wealth for the purpose of enjoyment, generosity and to change my family tree/leave a legacy.

[@ZedGirl]

@john Smith multiple streams of income, investing, tithing, and teaching the next generation to build wealth not just go to school.

[@westword6558]

Love this question I have been debt free before and felt like I lost my identity of working hard and paying off debt so I would create new debt and repeat

[@dwightschrute7342]

I am afraid I will do the same so I am going to set investment milestones to keep my brain engaged.

[@Love2Banime]

I would get a breath of fresh air and scream to the world that my loans has finally been defeated! That would be my recovery after debt

[@eap0502]

This question doesn’t even make sense… they don’t own a home. Next is BS3 and then 3B. Then 4,5,6. They have so far to go before even considering this question. Gazelle intense until 3b is done.

[@AnimatedIdiotGuide]

Gazelle until 7

[@not_yet_a_saint]

Excellent call. Bookmarked for future reference.

[@michellegrovak]

They need to find a purpose greater than themselves.

[@novaricos]

One of God's many names is "I AM". What WE say to ourselves and others, about ourselves, also follows the words "I am ..."! So be very conscious what you say after those framing words, and deliberately choose good ones, (and you will begin to live up to them more and more over time!) Peace and strength to you all.

[@Victic005]

Just put the money in index fund. Follow the baby steps.

[@1wisestein]

Hello to my fellow Canadians!! 🇨🇦🇨🇦🇨🇦

[@roolyfe]

Thank you very much Dave Ramsey for shooting animals with a camera 📸 than a gun! Kenya 🇰🇪 America 🇺🇸

[@ProfessorMikee]

This guy speaks very well,

[@rothieadunnigan2009]

I agree, great radio voice.

[@natedogg890]

It's that Canadian accent buddy

[@alinatamashevich3354]

@@natedogg890 EH?

[@lynnebucher6537]

He's got a voice for radio!

[@alinatamashevich3354]

@@lynnebucher6537 Probably a face for radio as well.

[@emilyreeks2207]

Family ID by Greg Gunn does just this!!! I highly suggest his books and attending a course if at all possible. It showed my husband and I how we want to raise our children and what mark we want to leave in the world along with being a family rooted in faith. Great conversation!!

[@unkownuser5809]

Good recommendation, I've been wondering how to frame our family for my young kids, will check it out

[@stevenporter863]

In my opinion: Dave answered the caller's clear, exact, and concrete question with a fortune cookie type abstract answer.

[@ambert5302]

Read “Atomic Habits” and “The Slight Edge” both very good. You should be very happy, write down your new realistic goals, don’t keep up with Jones and stay out of debt!

[@jasonbroom7147]

It's an interesting question, because I have found that most people who stay the course and progress through the Baby Steps already have multiple "WHY" lists worked out, so they already know who and what they want to be, post-debt.

[@mattmatt2417]

I don't think this is EXACTLY what he was asking, its a good idea to define who you are and what you want,but I think he was asking for another step/should I invest in this, should I do this, how do I achieve this goal, the answer could have been expanded on, once their answer/question was answered, meaning once he figured out what he wanted to do, also if he paid all of his debt and sold everything and has nothing,getting a loan/mortgage for a house and a car puts you right back where he was,obviously advice is going to be different, depending on the person/scenario/goals and so on. I don't think this question was fully answered,maybe after he does his homework, they can expand on their answer,once they get more details/information/the equation/problem isn't fully presented. If you sell everything you own/have,you will never have anything, getting out of debt is great, but if your paying money on debt/ on things, you don't even own,thats crazy and if that was me, I would feel like a failure, I paid everything off, but I own nothing/I really didn't accomplish anything other than giving that interest/money away/I may as well have burned the money.

[@Sheryl777]

Overthinking it.

[@lynnebucher6537]

I can identify. Paid off the debts not long after hitting my retirement savings goal. Now I can't figure out where I want to move to.

[@freedomworks3976]

This may be way out of the scope of this format 🤔 but I found existential philosophy and the psychology of Abraham Maslows hierarchy of needs to be very helpful with these ???'s

[@willdrake254]

I’m at about 65k in debt. Slowly paying off credit cards and cutting them up along the way. I don’t make much so definitely need to have more income ideally. But as of rn I have a small savings of about $2500. Not sure whether to keep saving or throw that at one of the cards and start over and keep going like that. Or just keep building that emergency fund up and paying the debt off slower but surely

[@Tobluesmetal]

good luck owning a home in Ontario. im getting outbid on a shack in the woods

[@Wierdworld-z7q]

Wtf does this has to do with his question

[@appleztooranges]

This is hard for me as well. Debt free at 36

[@achavez78]

He had a question a-boot identity

[@dbag57]

Shook my head as soon as he said Disney World 😂

[@mikkinicholas7536]

I gave up desserts for Lent as well.

[@franchettabeckford6753]

Great framing

[@TheMechanicj]

What’s next? Buy a house and pay it off now when that’s over then your identity changes I’m broke I pay 1500$ a week on my house it will be paid off in December no debt 200k in retirement 8000$ take home pay a month than I get to answere this question

[@TheMechanicj]

I’ve made so much money for so long and was so broke it was ridiculous 8000$ a month bring home after tax insurance etc and had no money at all

[@BrianaBudgets]

I don’t love that twin tower metaphor.

[@rayjgold]

Im a little confused why they are speaking like this caller has made it and it is giving and vacations from here on out......when they do not own a home? Owning your roof, should be the next goal..... Or, at the very least, saving up to be able to buy a house or condo, by the time you are done traveling and ready to stop renting.

[@ernestogalvan143]

So no house? No debt doesn’t equal wealth.

[@fauxbro1983]

You don't need a house for wealth. When u factor in maintence cost and interest, they truly aren't great investments

[@adamseidel9780]

@@fauxbro1983 now factor in not paying escalating rent. They’re phenomenally valuable investments. That said, no, you don’t need to have a house to have wealth. But getting out of the negative is also very very good.

[@marshall2.015]

@@fauxbro1983 When you make payments and do repairs on your house you are building equity. When you pay rent you are never going to see those dollars again for the rest of your life. Once your house is payed off it's an incredibly good investment. You can save or invest almost all your income at that point.

[@dkBybee]

Most millionaires own their own house/apartment/shack. Lol

[@armandol1826]

@@fauxbro1983 for most areas. Santa Monica has served us well

[@KiLLED5639]

Dave, a good donut is a good donut. Can't resist myself. And that's why I'm fat.

[@plants4thewin]

So John is going to use the twin tower analogy in every show?

[@bigpicturethinking5620]

Yeah he really likes that one.

[@todd2456]

Seemed like a normal guy until he said 'DisneyWorld' as his 10 yr anniversary trip. Don't give money to a corrupt and disgusting company like Disney. SMH. Plus, Disney for a 10 year anniversary trip sounds outright weird.

[@SpeedfreakUK]

Okay Che, calm down

[@todd2456]

@@SpeedfreakUK RE: Disney. Never.

[@candy2325]

Weird for you, but not for the caller. It’s something he wants to do

[@buddykerr1]

After coming back from spending a week being annoyed at Disney, they're gonna wish they had saved that money for a house down payment.

[@SpeedfreakUK]

@@todd2456 what website do you think you're posting on, my good man?

[@darkangel686868]

I love eating 63 doughnuts 😂

[@anthonylozano8035]

Duck Disney

[@xo7454]

Did he say $84k or $8,400 ???

[@kinocodner4307]

I think he misspoke and meant $8400

[@xo7454]

@@kinocodner4307 ok. Tnx.

[@twinchop4581]

Could dave do a show On how inflation Reduces debt? Over time...? Is this a real thing ...👀

[@howard9060]

Dave's strategy is to pay off debt so fast that the interest rate doesn't matter. In the same way, when you pay off debt as fast as possible the inflation doesn't make a large impact either. You are correct, that with inflation, the dollar you are paying towards debt now are worth less than the dollars you borrowed, but that is not a reason to take out debt or to wait to pay it off!

[@aolvaar8792]

How Do I Recover After Paying Off Debt? How did you get there in the first place? Lack of income or overspending

[@adamseidel9780]

Not so bad a problem. $113k Canadian? What’s that, like 20 bucks? More seriously, you have all that money that was going to debt every month, now you get to reapportion that. Lots of buckets to pick from: long-term savings, a fund for rewarding yourself with a vacation or a better car, home down payment, etc. Sounds like the home goal is already identified, so that gets to be a big part of it.

[@natedogg890]

Lol, it's like 90k USD, for us that's a lot of debt

[@adamseidel9780]

@@natedogg890 I’m sorry, I can’t understand you, I don’t speak Canadian

[@dwightschrute7342]

@@adamseidel9780😂😂😂

[@fonziegraziano2827]

Dave's pronouns are Dont/borrow 🤣😂🤣😂🤣

[@bmc5535]

Awkward caller

[@jeremiahsmith450]

Deloney with a 9/11 analogy? My goodness that guy really is the worst person lol

[@ACDC4LIFE]

Go to the local bar & have a drink on me. 🥃

[@Quinu12]

Have you seen food prices. He will have to go back in debt.

[@drewdelaney4166]

Haha belly up

[@mikesmmaworld]

I was today years old when I found out that BOTH Keira Knightly and Natalie Portman were in the same movie...... mindblown.

[@gibblespascack1418]

We went to Disney World after we reached $1 Mil in net assets. Stayed in our own cabin in Fort Wilderness. So go where the wealth is and that is in Chip and Dales campground. You may think that Cinderella and the prince are the wealthiest Disney Characters, but in reality, it's Micky at the top who owns the park, but followed by the wealth of Chip and Dale that have owned Fort Wilderness since Disney World opened. Chip and Dale also own many Restaurants as well as the rotating Garden Grill in Epcot. Really go see Chip and Dale, you can learn a lot from them about growing a businesses, starting with a few nuts.

[@laz7354]

Language.

[@AlejandroRodriguez-nf8xc]

First?

[@dazzles8805]

You need to get bigger goals in life.

[@dazzles8805]

But congrats 👏🏻 😉

[@thelovelykimmi7920]

@@dazzles8805 so rude. Let Alejandro live 🙄

[@tkdevlop]

@@thelovelykimmi7920 first always die first

[@alinatamashevich3354]

@@dazzles8805 And miss out on the free cookie?

[@user-hb8tn8fe4q]

BUY YOURSELF DOGELON MARS COIN FOR A POTENTIAL MASSIVE RETURN

[@spot_of_tea53]

Preach