Will Paying Off My Mortgage First Get Me Out of Debt Faster?

[@ii0256742]

If you're making fun of this lady then you need understand that she is nervously excited and motivated. She is not mental she's going into another gear she didn't know she had. Kill it spring! I'm right there with you

[@shola7987]

She sounds like she eats coffee beans for snack lol

[@bartlemi5]

😅😅😅😅

[@xman666soad]

This may be an understatement. Cocoa leaves.

[@JTDyer21]

The problem is most people are so used to losing in life they often lose hope. That's what Dave is selling more than anything else, HOPE. If you have hope you can succeed at anything in life. Without hope it's game over.

[@stephencoxmus]

Well said.

[@vildachaya6462]

Dave is great. This is a very good culture

[@LetsTalkPersonalFinance]

Hearing Dave say "Spring from Bloomington.." made me smile a bit

[@charaardrey5846]

Ikr

[@charaardrey5846]

I thought about Katy Perry naming her daughter Daisy Bloom too

[@MoneysNoObjectwithDylanHowell]

I like her intensity, but I LOVE Dave’s “nope” 😂

[@samuelbalogun7054]

Spring: I think Ive got a great idea. Dave: NOPE... 😂

[@edd06001]

Even though her income is small, the fact she only has 45000 left on the mortgage is a lot less daunting with taxes, credit card debt and student loans in front of her first.

[@jasonwilkins1969]

For the life of me, I don't understand how people get into tax debt running a business. You know you're going to owe taxes. Why wouldn't you set money aside

[@stephencoxmus]

@@jasonwilkins1969 Having an emergency during the year and not having enough to cover it because it went to taxes might make one skeptical. But it certainly is good idea to pay them quarterly.

[@prospersis4540]

Spring is pumped up! Love her energy she is going to crush all her debt!!

[@Jason-uw3wn]

It’s a marathon people. It doesn’t happen over night. Keep pushing

[@ap9212]

US government: I owe china a-lot of money. Dave: Rice and Beans.

[@vildachaya6462]

More like steak at $500 a pound

[@Imhere12345]

Those tanks. Yea get rid of them

[@vildachaya6462]

@@Imhere12345 they should make smaller tank drones

[@ASLunar]

Don't forget that if they're federal student loans, this is the year to pay them off. 0% interest means the money is going straight to the principal balance.

[@jdstep97]

ASLunar - Good point. I wish they would stress that, but I don't think they ever have.

[@factsoverfeelings9492]

@@jdstep97 baby steps are allowed to be broken aslong you got a budget and are paying debt the sequence can change aslong your organized and stick too it.

[@theblackknight9783]

@@jdstep97 to be honest some people probably dont even know.

[@wpgangi1]

YES!!! My wife and I are taking advantage of that!! By the end of this year, we will have paid off $30,000.00 in student loans!! There's nothing sweeter than seeing every penny of that money go to principal!! Pay everything you can, don't give them another second of your freedom!!!

[@kimberlye8846]

It’s a painful truth when Uncle Dave tells you NO when you are trying to convince yourself otherwise.😂😂😂

[@MoneysNoObjectwithDylanHowell]

Kimberly E that “NOPE” was a DAGGER! 😂😂

[@kimberlye8846]

Money's No Object with Dylan Howell It definitely was. Lol 😂

[@MoneysNoObjectwithDylanHowell]

Kimberly E that is 💯 percent what makes Dave Dave! 😂👍🏻

[@AQJ_DK]

$35,786.56 ... that’s an awfully precise projection 😅

[@aolvaar8792]

A detailer

[@random-nz7dy]

She is hyper excited to say the least lol. It's good that she has good energy regarding this. As long as she doesn't burn out too quick of course

[@AIrn6087]

Precisely still in debt

[@codys5727]

People tend to forget that the baby steps are as simple as they can be and no more complicated than they need to be. Stay motivated and keep digging

[@memnoch1974]

They forgot to ask the lady how much coffee she’s had for the day. 😄

[@greatfreedomcounselling2239]

Love how Dave broke this situation down into bite size pieces and also help her to see her strengths. Great video!

[@1.5Koreans0.5American]

Most people fail because they give up too early.

[@soonermagic24]

Sup jade

[@sami-9233]

Jade back with those one liners

[@thatmoneyguy7630]

Jade, love that statement and I will be following your KZbin journey! Best of luck!!

[@stephencoxmus]

Truth

[@jmc8076]

She really needs more enthusiasm...lol! Love her energy and ability to laugh at herself. I’d wish her luck but don’t think she needs it. She has this. 👏

[@anneshirley95]

She reminds me of Phyllis Diller!

[@DGP113]

That was such a great call! Extremely inspirational! Tear in my eye & all that...your kindness Dave & Chris...sigh...the recipe!!! 🤗

[@Unbound_Thought]

Dave is a great motivation to people!! 🎯💰😀

[@Je.rone_]

She sounds like a motivated person, I like ti set other entrepreneurs getting after it

[@turisteandoentexas]

I agree, the problem is that a motivated energetic person wants to do it the way she wants, hopefully she follows the advice, she will be better off

[@enricopallazzo3244]

Little manic but she can use that in her favor if she channels that energy.

[@gerrybaker1422]

Sounds like a spaz to me. She has a good sense of humor though

[@knucleballfreedom]

@@turisteandoentexas I don't agree. Motivated & entrepreneur also means asking a lot of questions, clarifying, understanding until they are 100% all in. You can feel and hear she drew that line in the sand!

[@raaaeternity5781]

She seems as if she is definitely "in your face" personality.... bless her heart - as my southern folk like to say....... Someone else on the comments used the word manic... fitting? .... I can see why it was used

[@atlresale8097]

She sounds like a teacher. Great video Dave!

[@jesusgutierrez9705]

My net worth is 400 k yes I am military , I don’t spend money on things I don’t need . Anybody can do it as long as you are disciplined with your money . I hope everybody is doing well stay safe and god bless you .

[@MB-uy5kh]

Way to go! You are a rock star! Congratulations for having learned what many never learn. Sacrifice is worth it.

[@HisGloryAlone_Papa_Chap]

Thanks for gracing us with your bragging about yourself

[@jesusgutierrez9705]

M B thank you anything is possible with the grace of god and sacrifice

[@jesusgutierrez9705]

Alexander Smith 👌

[@Tr1Hard777]

How old are you and when did you start saving?

[@00Noontide]

she sounded so distressed when she called in. so glad to see dave made her laugh and slow down and think

[@slidegirl6005]

Pay off the credit card. Good grief.

[@canceraxe1447]

She came in with energy and left with logical sense 🤣

[@jhern083]

Very nice touch with the graphic on the bottom screen, that explains baby step 1.

[@theburnetts]

She seems so manic and all over the place. She definitely needs a calming influence. She is excited which is great. But she is trying so hard to jump ahead and figure out a faster or better way to do it. Just breathe and relax and follow the plan as it is written. You will be fine. Don't over complicate this.

[@timothysherrange]

It's her competitive advantage. Just need to harness it in the right direction.

[@MrTmenzo]

High blood pressure

[@luminous6969]

Could be nerves. It's probably her first time having thousands of people hear her speak.

[@lewisr7700]

I get what Dave is saying. I had my mortgage and two car payments. Paid off my mortgage like someone put a gun to my head then kind of lost interest in the cars. I should’ve attacked the cars first. Oh well.

[@ASimoneau]

She shouldn't pay off any of her debt. She should just call her creditors and talk at them until they get so exhausted listening to her that they forgive the debt.

[@nellieponks]

😂

[@MrKijana23]

I wonder what Dave's wife thinks about his impersonation of her voice😂😂. Always makes her sound so whiny😂😂😂😂

[@LyonsArcade]

"Hello Dave, can I do Daveish?" This never ends well

[@xaviersfinance2664]

Always excited for another Dave Ramsey episode

[@Tr1Hard777]

She's on fast forward.

[@paulstandaert2042]

One of the things Dave says is that behavior has more to do with having debt problems than knowledge or income. It worked for me. It is probable that most people reading this has earned more money than I have over the decades, but I got the mortgage done and have no debts other than the usual utility bills and property taxes.

[@haggishighways]

She's going to smash this debt. Just from this energy, if she focuses it on the debt, she'll have no issues

[@rentalproperties8598]

Always be pitching! Ramsey Plus

[@cazpk6840]

These two guys on today Chris and Dave are brilliant. The others on the Ramsey team need to up their standards. Dont be afraid to speak truth like Dave does cos the truth sets people free from debt. Be gentle and kind but be honest.

[@practicallandlording2787]

Everyone goes for a fixed rate mtg. This is a misnomer it is a fixed payment loan. A variable rate reduces the monthly payment at adjustment (all things being equal) if you pay in advance. Think about this when buying if you are planing to pay off a new purchase note early. Also over time variable notes are less money on average.

[@AnthonyAlvarado78]

That was the most awkward laugh😂😂😂😂

[@billgateskilledmyuncle23]

Caller: BLBLBLBLUGFASRFJK! Dave: Calm down, how much to you owe in student loans? Caller: BLBLBLBLBPOYDAFHJK!

[@johnallen3497]

Dilly Dally it sounded like she got back from a ten mile run

[@MoneysNoObjectwithDylanHowell]

Dilly Dally Dave’s ability to bring it back to the point is awesome!

[@DanielGarcia-zz9eg]

Just remember lady, you still have Property taxes and homeowners insurance. After a house is paid. On a average home you have to save about $500 a month for taxes and insurance Just depends where you live plus HOA if you got one

[@Armyvet91B]

Right.. Dave always makes it sound like you free up all this money when you pay off your mortgage. Insurance and property taxes will always exist.

[@euenfheiejrj]

Bloomington IN is a pretty cheap place to live. I doubt she has high property taxes or an HOA.

[@scmsean]

@@Armyvet91B You pay that when you still owe on your house as well.

[@heroshyma69]

Yes, but paying 500 is much better than paying 1300. Invest that 800.

[@aolvaar8792]

OMG, $500/mo! $500/yr taxes and $500/yr insurance

[@HisGloryAlone_Papa_Chap]

I couldn’t stand 2 seconds of online classes from her. 😳🙆🏼‍♂️

[@jdstep97]

Alexander Smith - Oh, come on, be encouraging. Maybe she'd be a bit calmer, though, than she was on here. Dave may have that effect, causing her to be super-excited. :)

[@sinamen516]

Kids will love her energy!

[@doctorhorton]

Spring thinking ahead Falling back in debt

[@jill9606]

Spring lives in Bloomington? Sounds hokey lol.

[@CaseyBurnsInvesting]

Making some more money and not spending it is the surest way to get yourself out of debt. Patience.

[@seanpaul1551]

I understand the steps but they didn't ask her about the interest rates on the mortgage and the student loan. I feel like those two factors should be a variable in the response.

[@mxerb5912]

Lay off the coffee Her Net business income is minimum wage

[@lvluptoaverage52]

Yea but she might be happy and she is getting her finances in line. So she is way better then most people making tons of money and stressed out doing stuff that they hate

[@insideoutsideupsidedown2218]

@@lvluptoaverage52 She talked to Dave during a spike. Just wait till her ADHD medicine wears off......

[@Ididntwantayoutubehandl]

That was as of end of June. $35,000 at the end of June is not minimum wage, even before taxes are taken out.

[@ajh.4131]

Minimum wage is around 25K a year or less. She's doing more than that. Yes, it's still less than the national average but by no means is it minimum wage.

[@mxerb5912]

A how about listening? She explicitly says projected for the year. Plus you don’t pay taxes making that little. My whole point was that her business is costing her money in opportunity costs. Maybe it’s not worth it I need to try something else

[@masterk5066]

She went to school got all the debts & her income is barely more than mine 🤦🏾‍♂️. This exactly why I’m scared of school even though I want computer engineering 😂, another one lol. System is so flawed......

[@stephencoxmus]

She said she wasn't using her degree, then explained how she will...which Dave and Chris agreed would boost her income significantly. But student loans are not a great way to do things.

[@jordanaubrey-realestateinv334]

Its a reason they do it that way!

[@mdooms76]

I would pay the house if first so that I can own it and always have a place to live if the business goes under. Those other bills will be there and she can pay on them after the same way she did the house.

[@mr.clapyourcheeks8496]

I agree with you and in her case her house is basically paid off compared to the student loans.

[@fhuber7507]

Actually... she is doing the figuring quite well and she is attacking smallest first which is Dave's plan. . "When I get to them the mortgage will be less than the student loans So I think I should do that first."

[@aolvaar8792]

A paid off house, Titled in trust, protected under a homestead. Let them take your SS for the student loan

[@michaelaida8420]

Plus the interest in house may be less than the student loans. Add in the equity part of that...I don't understand why it's such a bad idea 🤷‍♂️

[@lazykranch3205]

@@michaelaida8420 because the house gains equity and the credit card does not.

[@ran2j722]

I love this guy

[@alexgvo]

Question: Dave always says that that you need close your debts first. I have a linear mortgage with 1.44% interest rate for 20 years & monthly payment is less than quarter of my monthly income. Average inflation rate is 1.5% in my country. So is it worth to pay that kind of debt? Would it be wiser to invest money into funds?

[@bayonina]

Really interesting vids! This is perfect for my next VIDS😉

[@stevee8318]

Student loans are non-dischargeable in bankruptcy, meaning they will follow you for the rest of your life if you don't pay them off, so honestly they should be a top priority.

[@moehendrxx7964]

I like her energy. She will be out of debt (excluding the mortgage) by end of 2021-2022

[@nelsoncandelaria2802]

I tought the video was playing at 1.25 speed. I changed it to 0.75 and she sounded normal, but then dave sounded in slow motion.

[@Talkinglife]

Nice one

[@jonboyfutch8081]

Which one has the highest interest is the main question

[@LethalDentCompany]

Quickest way to get back on ya feet!? Miss 2 car payment!

[@MathiasJarlson]

Did she snort a line before calling?

[@ghettobadger686]

Why is she talking like someone is chasing her

[@JamesJamersonIsAGod]

The Adderall/Vyvanse/Concerta is real with this one...

[@AaronHernandez-xv4qh]

Prescribed 50mg

[@raymondblake5765]

Here is a question related to baby step 4, 5 and 6: If you're paying into a pension that is mandatory, and it's like, say 10 percent of your income.... Do you just pay an extra five percent of your net income into mutual funds to make 15 percent, or do you ignore the pension contributions and pay 15 percent into mutual funds separate from the pension? Thanks.

[@cathyfloral]

He says you can count pension contributions, but not at the full amount.

[@raymondblake5765]

@@cathyfloral so at what amount do u count it..?

[@cathyfloral]

Raymond Blake He usually says around half of the actual percent. With your example, it would count as five percent. Remember a pension does with you most of the time, so your spouse would be left without that much to live on.

[@tunaXonXtoast]

7 grand of student loans at 5.5% interest, I have a 20% down payment for a 300k house saved. What should I do?

[@fred89pj]

I hear the voice of the cook from South Park

[@spcysos]

Just a question... Why not pay down/off the mortgage first so you can pass that house down while the student loan will die with you? Or am I mistaken?

[@spcysos]

Also, I understand Dave's program, but in her situation, she may be better off with the former than the latter depending on her age/retirement funds and other positions in life.

[@Trenttabor]

Lady gives me anxiety to listen to. Slow down lady.

[@joziewales1965]

Dave’s cohost should be doing voice overs

[@motorcyclemichael2182]

Stop thinking and do what dave does!

[@ThinkBlueAZ]

With interest rates lower than ever and the new Fed inflation target of up to 4%, you’re better off not paying down your mortgage faster since you’ll be paying with less valuable dollars in the future. In the meantime, you can invest and get a higher return than the 3% (or less) interest you’re paying on your mortgage.

[@PassportBrosBusinessClass]

PAY OFF YOUR MORTGAGE AND CAR NOTES ASAP

[@Banditfirehouse]

3:02 and 4:00 haunts me in my sleep

[@livefreewithcalebd]

Wait did they speed up the video? Or was she just speaking?

[@AH-up8zh]

This lady needs to take a chill pill! 😳

[@randy944]

How was she planning on paying off the house early?

[@damsmoroms]

Didn't give a why

[@lazykranch3205]

Yes he did. It is the sense of accomplishment. Paying 45k of would take years. Paying 4k less than a year. Credit card maybe a year then student loans. The whole time getting rid of money drain while gaining equity in the house. It is all about accomplishment.

[@TornadoUltimate]

Do not question the snowball!

[@SearchForTruth1]

She's really Springing into action

[@preezypatel]

She spazzin.

[@michaelpowers6632]

I feel like she has a crush on Dave cause everything he says it’s the funniest thing she’s ever heard

[@turisteandoentexas]

😅😂 what woman doesn't have a crush on that intelligent man?

[@soonermagic24]

Should I payoff my house, or buy 300k worth of tsla stock?

[@justinacase2623]

Buy AIG, WorldCom, Enron first!

[@ColinK166]

That sounds like a horrible plan lol

[@goff4678]

You guys obviously aren't traders. If you bought tesla stock two days ago you would have made 18.7% by today. I'm with you soonermagic24. Luckily I caught the 8.5% rise but I sold before the bell and I used all my capitol. Should have held it but my goal is 8% a month and I'm very conservative with my brokerage account

[@justinacase2623]

@@goff4678 so what do you pay for fees to buy and sell these single stocks?

[@justinacase2623]

Also, taking profit counts as income, right? So how heavy do you get taxed

[@deltaXna]

Dave didn't even try to get what she was saying.

[@jasonwilkins1969]

Because it really makes very little sense. Even if the mortgage was less than the student loans, it is better to put the money on the student loans if only because of the interest rates.

[@donaldsewell9937]

Please bring Chris back

[@ericson0504]

I mean...at least she didn't take 7 minutes just to mumble to the question. I'm having an anxiety attack now, but I'm glass she's jazzed.

[@CryptoDachshund]

I would pay the Mortgage first. They're both debts that have to be paid. They are roughly the same amount. The mortgage is amortized interest. Dave decision is strictly his dogma.

[@Dreamprism]

She sounds like she's going to be alright. I'd let her deviate a little bit from Dave's steps if it helps her out financially.

[@renaissanceman5847]

that girl is taking down Hydroxycut Hardcore with Redbull... 2x a day...

[@runningdebate2670]

Is this the wife from Married with Children?

[@insideoutsideupsidedown2218]

This why we don't need to take student loans out for things like masters degrees....35k a year......omg

[@AaronHernandez-xv4qh]

How much income from a job would be acceptable for a masters ? Asking for a friend

[@insideoutsideupsidedown2218]

@@AaronHernandez-xv4qh 75k plus

[@BlazeTrinity]

I make almost 75k with an associate's.

[@aolvaar8792]

@@BlazeTrinity almost $100K in 1980, overseas expenses paid Petroleum Engineering

[@BlazeTrinity]

@@aolvaar8792 nice. I was just trying to point out that that's not a whole lot considering how much more time/money a master's takes.

[@WesTpaintninjagc]

This has to be the dumbest piece of financial advice ive heard from DR. And that truly is saying something. This woman, whoever you are do what you were going to do. Throw dave ramseys books in the bin, buy rich dad poor dad and learn how to use debt. This is shockingly bad advice.

[@exxology1]

I don’t like the dynamic between these two. Their personalities are both too big & they fight to say something (anything) throughout the calls!

[@avaughnimous]

Very manic. Probably just nerves.

[@YPEFFLE]

Use your degree to tutor rich kids in the time of virtual schooling

[@KeenxLimit]

WHY DOES SHE WANT TO DO EVERYTHING QUICK CALM DOWN

[@kellymcvay2310]

Sad

[@TheBeardedSandman]

She talks way too fast.

[@jfloresdrums]

She needs to slow down

[@louib716]

She doesn't have a bad line of thinking, but dave isn't going to tell you anything that deviates from the baby steps. Too much nuance gives people with bad spending habits too much liberty to justify not breaking their debt making habits.