On the medical, I learned the hard way.... Do not ever ever call them to set up a payment plan. When they send the statement just go online and make a payment every month. Zero interest and as long as you are paying something semi reasonable it wont go to collections. But every month, pay something to string them along and keep them quiet.
Love what you're doing! I'm on the path of paying off $115k of Consumer debt. That was as of June 2020. Today I'm at $46k. More importantly I've been budgeting for over 3 years now.
Seeing that negative number at the end of her second paycheck hurt! But I am thrilled for "Ney" that she is making progress already by paying off one of the cards! And that she has a second job. It sounds like she is already course correcting! "Ney" if you are seeing this, you got this! Thank you Jenn for another True Story and the compassionate but realistic approach you take to everyone's stories so far.
She can get out of this. She is young and very intelligent. I know she will do it. She just needs to cut those cards up and focus on paying them off - fast! 💛🐝
Whenever I get overwhelmed, which happens pretty often, I heard a saying that I absolutely love, “ How do you eat an elephant?”… one bite at a time, this helps me gets through anything on my “plate”.
LOVE, LOVE, LOVE that you are willing to help these people out!!! I applaud you for taking your time & personal experience to pay it forward for others! Hats off to you!!
i got a consolidation loan, racked up my cards AGAIN!! eventually paid off the loan and still had to pay off the cards. Thought about getting a second loan, but everywhere rejected me and im glad they did. You talking about how we have to learn the hard way is so true!
I did the same thing. We paid off a consolidation loan and just put all the same amounts on all the same cards AGAIN! It’s a behavior thing- people thing it’s a money problem. Consolidation loans work for VERY FEW people.
@@2SisterBees I personally used a company called ACCC and in their program your credit cards are closed (those with balances) and you make one payment towards them every month. The creditors lower their interest rates significantly. The best part of the program is that I can't use those credit cards again and I can't open a credit card until I am out of the program. My average interest rate hovers around 7-8%.
This was such a great help Jenn! I know if we'd had this kind of guidance we would never have been in the kind of debt that we were in. Ney, you've got this, I pray that your boyfriend is on the same page. It takes extraordinary effort to do it on your own. With us, we cycled, one of us would want to budget, the other not willing to give up the extras, it was chaos for decades. When we finally got on the same page and went scorched earth on debt we were finally free, the feeling is amazing! Also Ney, you are not a failure, millions of us have had to go through the stages, admitting we have a problem, accepting it and moving forward to fix it. You're already doing it!
I absolutely love you doing this. This is important to go over. Thank you for doing this for Nay, she can win at finances. Slowly she will be able to control every dollar.
Keep your head high Nay...you've got this! We are all proud of your babysteps...Jenn you are awsome... your Bee community wishes you financial freedom...stay on tract...you WILL see the light. We are all rooting for you ❤
Her budget also reminds me of my debts i had just 2 years ago. I feel into the payday loan trap. That's when i found cash stuffing videos and am now down to only my car, house, and student loans for debt. You can do this "Nay!"
Along the same vein talking about debt consolidation loans, it’s not as psychologically helpful to see one large lump sum of money. The higher the number, the more impossible it feels. Versus having a bunch of smaller cc bills that will give you that little boost of encouragement each time you pay one off. Those little victories of paying off each one will be super beneficial in building momentum and confidence in your pay off journey
It really does work. Every time I paid one off- my focus went right to the next one without questioning it. There is nothing as freeing as not owing anyone a dime. It’s so worth it. 💛
This looks similar to my debt overview. Writing it out on the sheets that you provided was really hard. I also cried. Thank you so much for all the resources and helpful information. It is so helpful. It gives me and others hope that there is a way out, one just has to be persistent and celebrate small wins.
Persistence is 100% the only way. I am so glad you found the channel and I hope the info helps you! I want everyone else to feel the feeling of being debt free and not being “chained” to payments. 💛
Consolidation loans are the absolute worst. I used to do this and just kept doing it over and over (definition of stupid or insanity😀). She can also use the weekend job at Dunkin as additional income, take her net, and apply it to her debt. I did that when I paid off my first car. Had about $3K left and since my son needed a car (he entered the workforce 🙏). I told him he could buy the vehicle at the remaining balance and then I signed the title over to him and got a second car. Paying that sucker down the same exact way🤣 Using my regular pay for the min payment and applying my side income to principal payments. Took this loan in 2023 for 5 years. Based on the payments so far, should be paid off by May 2025 (23 months)
I also did consolidation loan -2x. First time - I ran all the cards back up. 2nd time- I started this journey and I will never do that again. We just “trust ourselves” and think we will be smarter than the credit cards. It’s really hard but once we are done- we are done! 💛
Nay I started watching Caleb Hammer a year ago and this October I paid off my Upstart Loan 11 months early! I paid 5,533.18 in just interest for a 14,700 debt consolidation loan. If I would've only made the min payments I would've paid $8,053.08 in interest alone. Only when I realized I am only making the rich richer by allowing them to exploit my bad spending habits did it infuriate me to make a change and never do it again. Living with no cc/loan debt is a real thing we are allowed to have! ❤
I love your comment so much that I screen shot and I will be emailing it directly to Nay. I want to MAKE SURE she sees it. Thank you so much for your kind words of encouragement! I see you! 🤩
Caleb Hammer is grade a gangsta. The stuff that these folks spend are ridiculous. One lady is in debt because she orders from doordash instead of "cooking" go figure. Some lead but others ignore.
Jen love how you broke this down for Nay. However did you realize that Capital One card is a secured card? It is a credit builder with power. When she pays that card off she can put one of her regular bills on that card that she would normally pay every month with her bank account. She just has to time it correctly with her due date and statement date and due date of the bill which in turn gives her an extra month to pay that bill. After six months Capital One will see she is using that secured card responsibly and change it to a unsecured card and refund the money that she put into that card to hold which means she will get that influx and she can add to that snowball. Plus if it is a Quicksilver secured card she will be earning cash back each time she puts that bill on there. Just a thought.
Only? I have capital one with no balance so interest is a mute point . I do have thousands in my capital one high interest savings account. Not sure why you are bragging. @Joce123
My capital one card is also unsecured. It's never been a secured card. I opened it unsecured and they periodically reevaluate it and increase the limit (about yearly).
Thank you for doing these videos. I'm loving this. It makes my financial goals seem so much more attainable and it also helps me realize that being confused and overwhelmed and... and... and... is not just singular to me. Now! I have a question for you. I'm filling out the financial budgeting sheets you provided (snapshot, etc.) where do I enter yearly payments such as my canva subscriptions, amazon prime, etc? Thanks for all you do! You're a gem in this financial RUclips community.
I love these videos because it's really helpful to see other people's spending to make me more aware of mine and things I can do. Thank you for doing this to help others. 🐝♥️🐝 Nay... You can do this!! 💜XOXO
I love this series! Thank you for offering your services, very informational and helpful. I was on this same type of road until just recently.. back on track and stopped using my cards! That is a BIG step in itself! You got this Nay!
Yes- I’m glad to hear that you stopped using your cards. It’s hard because we start to depend on them as “money in the bank” but they are not! They are taking money- it’s such a trap. I feel so much better knowing I don’t owe anyone a thing ( except for this house) 🙌
You said it exactly right! We have a plan to be debt free in five years or less! Our house is a private mortgage from a family member for a small amount and that will be done by that time too!
Hey Jen 👋🏼, I love these videos. Nay, you've got this girl. Follow the tips, and come back and share the exciting news of how you paid it all off 👏🏽👏🏽...😮Oooooo I can hardly wait. You can brew ☕️ coffee at home.
Good morning and Happy Thursday ❤. I am really loving these videos. You have been so helpful with these videos. Best of luck to everyone on this journey❤ Best of luck Nay, you got this 💪
I use cash for almost everything. I take my lunch to work. I catch the bus everywhere. I pay life insurance every month since I need it to be buried. I get clothes free if needed. I do many surveys online for cash and Amazon gift cards. I do class action suits which bring different amounts of money every month.
This is much like me. Spend too much then get lower interest loan. Car quits. New card-eventually another loan- heating/air unit goes out and has to go on another loan. Over and over. It’s so slow and frustrating but I’m trying.
No matter how good the incentives are for signing up for a CC one thing I have learned is to only have 1 card. Just not worth it to have any more than that.
Same here. I have one visa that I use for travel and some business stuff. Paid off the second I use it. 0 balance But a lot of lessons learned before I got here 😂
Hey- good for you for recognizing and looking to change your situation. A lot of people would just be like 🤷♀️ I’m proud of you! I hope you are proud of yourself! 💛
I love this videos. I am currently trying to pay off debt, too, and feel overwhelmed. I wish someone would have told me not to consolidate my debt unless I could control my spending because now I have a big loan to pay on top of the credit cards I supposedly consolidated 😢😢😢
Being only 29, $113 a month for life insurance is highway robbery! Especially since she’s paying for 2 separate life insurance policies. I would seriously look into that larger policy and if it can be adjusted or even dropped. It can always be added back in once her finances are back on track and she has more expendable income.
It may be a policy for someone else- I didn’t ask. A life insurance policy is a very personal thing. I know mine is a very different amount from Jason’s - even though we are the same age. I just wanted to help her with her debt and with how she is feeling about herself at this moment. The life insurance policies, the car payment- she can deal with those after she gets the obvious issue ( the 18 credit cards) out of her way. She is young - she can turn this around! 💛
@@2SisterBees absolutely! I’m still slogging along but after 5 years of really buckling down I was finally able to have my finances in shape enough to move back out of my parents house 😊 it’s hard but worth it
Train your taste buds to drink home coffee. Majority of the coffees taste the same, it’s the creams that change it up to her liking. Unless she drinks it black. But still she should leave to make coffee at home
What is her partner paying for other than 50% of the rent. She is covering all the utilities, food and housing expenses. Is her partner living off her. Thank god they don’t have kids. I’m so proud of her wanting to clean this up. The reason this resonates with me is because my partner won’t do these financial clean up and goals with me. It’s really disheartening.
I like how you are doing this. This is how I do my budget as well. However, her monthly income is actually 1437 times 26 divided by 12, or 3113. It is not 2 times 1437.
For sure - it’s definitely an issue but she can focus and get rid of everything else first. What happens a lot of times is once that’s done - you realize on your own that the car payment is not worth it to you anymore. Debt becomes more and more difficult for you to just … have.
Get rid of cable and go to the finance department of the hospital and they will let her either make payments or consider her destitute and therefore not owe anything
Back when I got married at 18, my parents and grand parents told me to NEVER get credit cards or car loans. I didn’t. Stayed ahead of the game. Sometimes we had to take on a second job to SAVE money and invest, not to pay interest to a bank. I refuse. She owes $34,000 on a vehicle ? I have never paid more than $21,000 for a vehicle. That’s crazy that $34,000. Sell the car and buy a $15,000 car.
It is ALSO not OK not take her BF into account, if she talks having children. Girl, you will be out of job for period of Time and/ or you will have childcare costs. Not even talking about getting married first.
OMG! I was there, feeling like a failure when I looked at me real numbers. But you are so right Jen, by making those small wins of first asking for help and doing things to change are WINS. I love this video bc so many people are feeling the same but there is a way out and better days are ahead for bc when she gets a hold of the true nature of being in control, it will be an amazing experience to look back and see how far she had come. Ty for sharing 😊🩵
Hi - good morning ! It’s part of this packet - this is a plan to get you through Dave Ramsey’s baby steps 1 and 2 to save $1k emergency fund and then pay off all debt except house : www.etsy.com/listing/1714969150/
Idk I think the advice at 13:40 isn’t very good. You can still learn to budget with a consolidation or a balance transfer. even if she just BTs the capital one cards she could save her monthly minimums for her SFs.
1. sell the car, get a $2k ride to get you to and from work or ride the bus. 2. cancel life insurance policies. 3. get married, combine income attack as a team. (didn't discuss his debt though...) 4. stop calling internet WIFI. wifi is the wireless technology that connects you to a network that may or may not have an internet connection.
You’ve got it all figured out so I went to look at your finance channel where you are helping others and - imagine my disappointment when I didn’t see one! Let me know when yours is up and running! Looking forward to it! 🙌
You have to download the packet to your computer first - Then once it’s downloaded, you will be able to print it. Look in your “downloads” for the file “Financial Snapshot”. Just a side note: the pdf is editable, you can fill it in without printing it, if you wanted to.
Hello Jen, new subscriber ❤. I have been watching your videos for the last few days and I am super excited to get started on my debt free journey, but I have a question: How much should I spend to start my journey? And by that, I mean I want to do all the challenges, buy all the savings binders, purchase every budget binder, and savings envelopes i see because they are all so cute! I did my budget for this month/pay check, and after paying bills and paying off one credit card, I have just about 700 to cash stuff for sinking funds and all the things. I don't want to overspend on getting started, so what would realistic 'starter kit' look like?
Heyyyy! Welcome to The Hive!! Yessss! Okay- so I’m super excited for you. Anytime someone tells me they are new- I immediately flashback to when I first started! So so so fun! First- freebees!!! There are so many savings challenges you can get for free! Ours are here : drive.google.com/drive/mobile/folders/1VRf2dzNHV84v-oLIbufEnM3LlNcDpXcr One of my friends did a video showcasing everyone’s free stuff : ruclips.net/video/ByjcST51j5U/видео.htmlsi=ptTH1n_H-n6BRejc Okay - now you want to focus on Baby Step #1- save your 1k emergency fund, yeah? Yeah. So there’s a tracker in those freebees for you to get that saved up. So there goes your $700- $300 more and that’s done. 2nd Baby Step- pay off all debt except mortgage, using the snowball method. ….. oh lawd. Just email me. 😂 I’ll give your the DL! 🤩💛🐝
Super excited! Just watched your video on how to get your partner on board with saving and hoping hubby will get excited about saving with me. We already have a joint account for bills. We just have to get better with saving.
She has two life insurance policies, but no car insurance for her $35,000 car? Don’t banks require you to have car insurance when you are still paying off the loan? And I suit mandatory to have car insurance in PA? Also, if she is only paying $100 a month for groceries she should be teaching people how to do that. Is she only eating ramen, rice and beans?
Anyone else notice that she owes almost a year of income on her car. I’m sure it’s impossible to sell because it’s upside down, but wow I can’t imagine what a burden that is.
If someone’s credit is good enough to where they can get one more loan- I would recommend it. Get a loan for the amount you are upside down and get rid of it!!!
Same here! Take out and food was where I was wasting MOST of my money. It was absolute insanity. I am so glad I decided to change my habits and get out of debt. Has changed everything for me
I’m not sure. I know she wanted to start saving for date night as a reward for not spending on items. That last page is where they tell me what they WISH they were saving for. 💛
This young lady is too young to spend money on Life Insurance. D.R. would advise her to get rid of it and concentrate on other things she can delete (for now) until she can get a grip on these bills. D.R. would also say get rid of the car and buy something less. Don't forget, start selling your stuff. If you can work on Saturday you can work Sunday too. This extra income in just a few months will boost her finances.
Yes- DR always goes for that car but if she is upside down - it doesn’t do her much good. Remember DR is on a “radio show” and can be a bit dramatic sometimes. 😂 The life insurance- again, is something that is her decision. I don’t know the ins and outs of why someone so young has chosen to have life insurance policies. I have emails and one 30 min video to help as much as I can - with getting them “ back on the right road”. Those larger decisions are hers to make later on - once she gets a grip on the overspending and the small credit card debts. It’s all a process. 💛💛💛
As someone who unfortunately has dealt with family members passing young I would never tell anyone life insurance is not a good idea at a young age. Car wreck, suicide, undiagnosed heart issues have forever changed my mind. A friend just had to bury her 6 year old granddaughter after a car accident.
Never too young to young for life insurance. Life can change in a second, and you have no control over that. Better to spend a few dollars a month and be prepared. My life insurance policy costs me $8 per month
America has a Huge Spending problem and this is mindset that needs to change. It was also said by an anonymous financial adviser that Americans are NOT WIRED to save money due to it’s consumer mindset. This are the times when I remembered my mother who kept on telling me:”It’s not how much you earned but how much you’ve SAVED and this determines if you live another day eating or you starve to death!” And I kept this mindset and I never forgotten it and it saved me!
At least she has a good shovel/career/job to fill the debt hole. Sell the car and punch each debt in the face smallest balance to largest DR style. -Early debt-free Retiree
On the medical, I learned the hard way.... Do not ever ever call them to set up a payment plan. When they send the statement just go online and make a payment every month. Zero interest and as long as you are paying something semi reasonable it wont go to collections. But every month, pay something to string them along and keep them quiet.
Love what you're doing! I'm on the path of paying off $115k of Consumer debt. That was as of June 2020. Today I'm at $46k. More importantly I've been budgeting for over 3 years now.
Wow! You are doing amazing! It’s a great feeling to watch that number go down! 🙌
Seeing that negative number at the end of her second paycheck hurt! But I am thrilled for "Ney" that she is making progress already by paying off one of the cards! And that she has a second job. It sounds like she is already course correcting! "Ney" if you are seeing this, you got this!
Thank you Jenn for another True Story and the compassionate but realistic approach you take to everyone's stories so far.
She can get out of this. She is young and very intelligent. I know she will do it. She just needs to cut those cards up and focus on paying them off - fast! 💛🐝
@@2SisterBees Agreed! Getting out of it now and staying out of it will make a world of difference!
Whenever I get overwhelmed, which happens pretty often, I heard a saying that I absolutely love, “ How do you eat an elephant?”… one bite at a time, this helps me gets through anything on my “plate”.
LOVE, LOVE, LOVE that you are willing to help these people out!!! I applaud you for taking your time & personal experience to pay it forward for others! Hats off to you!!
Thank you so much! I hope it helps A LOT of people! 💛
I am loving these real life budgets. These are fun to watch. Great job. Good luck Nay. You got this girl 😊
I’m glad you like the videos! I’m hoping they help everyone see they are not alone! And there are ways to change. 💛
i got a consolidation loan, racked up my cards AGAIN!! eventually paid off the loan and still had to pay off the cards. Thought about getting a second loan, but everywhere rejected me and im glad they did. You talking about how we have to learn the hard way is so true!
I did the same thing. We paid off a consolidation loan and just put all the same amounts on all the same cards AGAIN!
It’s a behavior thing- people thing it’s a money problem.
Consolidation loans work for VERY FEW people.
@@2SisterBees I personally used a company called ACCC and in their program your credit cards are closed (those with balances) and you make one payment towards them every month. The creditors lower their interest rates significantly. The best part of the program is that I can't use those credit cards again and I can't open a credit card until I am out of the program. My average interest rate hovers around 7-8%.
This is a great way to teach ourselves self control. HURT! LEARN!!❤
It worked for me! 😂
It is a hard lesson - but it is so true. 💛
This was such a great help Jenn! I know if we'd had this kind of guidance we would never have been in the kind of debt that we were in. Ney, you've got this, I pray that your boyfriend is on the same page. It takes extraordinary effort to do it on your own. With us, we cycled, one of us would want to budget, the other not willing to give up the extras, it was chaos for decades. When we finally got on the same page and went scorched earth on debt we were finally free, the feeling is amazing! Also Ney, you are not a failure, millions of us have had to go through the stages, admitting we have a problem, accepting it and moving forward to fix it. You're already doing it!
Yes! Nay is way ahead of the game! 💛
I absolutely love you doing this. This is important to go over. Thank you for doing this for Nay, she can win at finances. Slowly she will be able to control every dollar.
Keep your head high Nay...you've got this! We are all proud of your babysteps...Jenn you are awsome... your Bee community wishes you financial freedom...stay on tract...you WILL see the light. We are all rooting for you ❤
Good luck, Nay! I stopped getting coffee out and started making it at home. I have an XL thermal cup and I fill that up for work.
Her budget also reminds me of my debts i had just 2 years ago. I feel into the payday loan trap. That's when i found cash stuffing videos and am now down to only my car, house, and student loans for debt. You can do this "Nay!"
Oh yes! Very nice job! I was stuck in those payday advances, too. Those are HARD to get out of.
I wish I had YT back then.
You can do this Nay. I’m working on my overspending as well. We will get through this.
Jen, I LOVE THIS!!!!! MORE MORE MORE!!! 🙂 Best of luck to "Ney". Get it, girl!
Thank you, Libby! Yes, Nay has youth on her side- she WILL come back from this! 🙌
Along the same vein talking about debt consolidation loans, it’s not as psychologically helpful to see one large lump sum of money. The higher the number, the more impossible it feels. Versus having a bunch of smaller cc bills that will give you that little boost of encouragement each time you pay one off. Those little victories of paying off each one will be super beneficial in building momentum and confidence in your pay off journey
It really does work. Every time I paid one off- my focus went right to the next one without questioning it. There is nothing as freeing as not owing anyone a dime. It’s so worth it. 💛
This looks similar to my debt overview. Writing it out on the sheets that you provided was really hard. I also cried. Thank you so much for all the resources and helpful information. It is so helpful. It gives me and others hope that there is a way out, one just has to be persistent and celebrate small wins.
Persistence is 100% the only way. I am so glad you found the channel and I hope the info helps you! I want everyone else to feel the feeling of being debt free and not being “chained” to payments.
💛
Good Luck Nay, you can do this. We did similar years ago, you can do it. Being debt free gives you freedom. Xx
Consolidation loans are the absolute worst. I used to do this and just kept doing it over and over (definition of stupid or insanity😀). She can also use the weekend job at Dunkin as additional income, take her net, and apply it to her debt. I did that when I paid off my first car. Had about $3K left and since my son needed a car (he entered the workforce 🙏). I told him he could buy the vehicle at the remaining balance and then I signed the title over to him and got a second car. Paying that sucker down the same exact way🤣 Using my regular pay for the min payment and applying my side income to principal payments. Took this loan in 2023 for 5 years. Based on the payments so far, should be paid off by May 2025 (23 months)
I also did consolidation loan -2x.
First time - I ran all the cards back up.
2nd time- I started this journey and I will never do that again.
We just “trust ourselves” and think we will be smarter than the credit cards. It’s really hard but once we are done- we are done! 💛
Nay I started watching Caleb Hammer a year ago and this October I paid off my Upstart Loan 11 months early! I paid 5,533.18 in just interest for a 14,700 debt consolidation loan. If I would've only made the min payments I would've paid $8,053.08 in interest alone. Only when I realized I am only making the rich richer by allowing them to exploit my bad spending habits did it infuriate me to make a change and never do it again. Living with no cc/loan debt is a real thing we are allowed to have! ❤
I love your comment so much that I screen shot and I will be emailing it directly to Nay. I want to MAKE SURE she sees it.
Thank you so much for your kind words of encouragement!
I see you! 🤩
Caleb Hammer is grade a gangsta. The stuff that these folks spend are ridiculous. One lady is in debt because she orders from doordash instead of "cooking" go figure. Some lead but others ignore.
Caleb Hammer is awesome. I wish he was a “thing” 40 years ago😊😂
You got this Nay!!! The Hive is rooting for you!!!
Good luck Ney! You will be able to do this we have faith in you
Jen love how you broke this down for Nay. However did you realize that Capital One card is a secured card? It is a credit builder with power. When she pays that card off she can put one of her regular bills on that card that she would normally pay every month with her bank account. She just has to time it correctly with her due date and statement date and due date of the bill which in turn gives her an extra month to pay that bill. After six months Capital One will see she is using that secured card responsibly and change it to a unsecured card and refund the money that she put into that card to hold which means she will get that influx and she can add to that snowball. Plus if it is a Quicksilver secured card she will be earning cash back each time she puts that bill on there. Just a thought.
This is a whole video - all by itself. 🧐
She weds to not get any cc for a while till she is more on point with paying her bills
My Capital One credit card is not secured and I only pay 9.9% interest.
Only? I have capital one with no balance so interest is a mute point . I do have thousands in my capital one high interest savings account. Not sure why you are bragging.
@Joce123
My capital one card is also unsecured. It's never been a secured card. I opened it unsecured and they periodically reevaluate it and increase the limit (about yearly).
Thank you for doing these videos. I'm loving this. It makes my financial goals seem so much more attainable and it also helps me realize that being confused and overwhelmed and... and... and... is not just singular to me. Now! I have a question for you. I'm filling out the financial budgeting sheets you provided (snapshot, etc.) where do I enter yearly payments such as my canva subscriptions, amazon prime, etc? Thanks for all you do! You're a gem in this financial RUclips community.
You can put them in bills - but put the monthly amount [ / full amount by 12 ] 💛
You have been an inspiration for me,
Thank you!😊
Thank you so much for telling me that- that means so much! 💛
Turn that baby fund into a wedding fund ❤ you guys got this! 🎉
I love these videos because it's really helpful to see other people's spending to make me more aware of mine and things I can do.
Thank you for doing this to help others.
🐝♥️🐝
Nay... You can do this!!
💜XOXO
Yes! Thanks so much for watching and supporting Nay! 💛
I love this series! Thank you for offering your services, very informational and helpful. I was on this same type of road until just recently.. back on track and stopped using my cards! That is a BIG step in itself! You got this Nay!
Yes-
I’m glad to hear that you stopped using your cards. It’s hard because we start to depend on them as “money in the bank” but they are not! They are taking money- it’s such a trap. I feel so much better knowing I don’t owe anyone a thing ( except for this house) 🙌
You said it exactly right! We have a plan to be debt free in five years or less! Our house is a private mortgage from a family member for a small amount and that will be done by that time too!
Hey Jen 👋🏼, I love these videos. Nay, you've got this girl. Follow the tips, and come back and share the exciting news of how you paid it all off 👏🏽👏🏽...😮Oooooo I can hardly wait. You can brew ☕️ coffee at home.
Do what you have to do until you can do better. Get that snowball rolling! Thanks Jen for being there for others!
I loved this video☀️Almost cried and cried🎉Wow! Such good sound advice 💜🎁
Glad you liked it!! 💛
I’m loving these videos! So inspiring to watch! I love your advice and all the help you are freely giving!
I’m so glad to hear that you guys find it helpful.
I feel the calling to help as many as I can- however I can. 💛
Good morning and Happy Thursday ❤. I am really loving these videos. You have been so helpful with these videos. Best of luck to everyone on this journey❤ Best of luck Nay, you got this 💪
Yes- she can do it, I have NO DOUBT!
Thanks for watching and for your kind comment 💛
Hi Jen , where did you get that oversized calculator, I love it ! Thank you for the content
You are such a blessing Jenn! Nay....just follow the plan Jenn has laid out...she speaks from experience and knows that you can, if you will!
She will do it! I am sure of it! 🙌💛
Thank you for your kind words!
I use cash for almost everything. I take my lunch to work. I catch the bus everywhere. I pay life insurance every month since I need it to be buried. I get clothes free if needed. I do many surveys online for cash and Amazon gift cards. I do class action suits which bring different amounts of money every month.
This is much like me. Spend too much then get lower interest loan. Car quits. New card-eventually another loan- heating/air unit goes out and has to go on another loan. Over and over. It’s so slow and frustrating but I’m trying.
Those rates make me cry. I hope she calls each and ask if a lower rate is available. You never know there can be some yes/nos.
Love the shout out Jen! 😂❤ Thank you as always for your videos!!
The first line made me laugh on the email I have been living a fiancé nightmare
No matter how good the incentives are for signing up for a CC one thing I have learned is to only have 1 card. Just not worth it to have any more than that.
Same here. I have one visa that I use for travel and some business stuff. Paid off the second I use it. 0 balance
But a lot of lessons learned before I got here 😂
I didn't see an entry for car insurance, maybe that was the 2nd life insurance entry being mislabeled?
I see myself in Nay❤She got this🎉
I did, too. I’ve been in her exact situation… a few times. 💛
I'm glad your helping her and give good advice
For sure- I know she can do it.
She’s young, she’s smart AND she’s a hard worker! 💛
Jen I love that you are using your journey to help others! 💚😇
Thank you so much! 💛
Asking for help is the first step.
Absolutely. Nay is a very smart young lady. I have complete faith in her. 💛
Oh wow!! This is so me! I do Uber a few nights and weekends and do Income Taxes start January.
Hey- good for you for recognizing and looking to change your situation.
A lot of people would just be like 🤷♀️
I’m proud of you! I hope you are proud of yourself! 💛
I finally have a chance to watch this! I’m really loving these videos! 😍🙌
Yay!! 🤩 I’m working on another one to post this week.
Stay tuned! 💛
"I love coffee" with 50K in debt. - that says it all. Also, both are low-income jobs. Tough, but you need to live accordingly.
Congratulations, Jen!
Thank you!! 💛
I love this videos. I am currently trying to pay off debt, too, and feel overwhelmed. I wish someone would have told me not to consolidate my debt unless I could control my spending because now I have a big loan to pay on top of the credit cards I supposedly consolidated 😢😢😢
Maybe limit eating out .. for a few months - just a thought
For sure- I didn’t even include eating out in her budget.
I pretended I didn’t even see it- she would be more underwater if she chose to eat out.
Being only 29, $113 a month for life insurance is highway robbery! Especially since she’s paying for 2 separate life insurance policies. I would seriously look into that larger policy and if it can be adjusted or even dropped. It can always be added back in once her finances are back on track and she has more expendable income.
It may be a policy for someone else- I didn’t ask. A life insurance policy is a very personal thing.
I know mine is a very different amount from Jason’s - even though we are the same age. I just wanted to help her with her debt and with how she is feeling about herself at this moment. The life insurance policies, the car payment- she can deal with those after she gets the obvious issue ( the 18 credit cards) out of her way.
She is young - she can turn this around! 💛
@@2SisterBees absolutely! I’m still slogging along but after 5 years of really buckling down I was finally able to have my finances in shape enough to move back out of my parents house 😊 it’s hard but worth it
I love the videos. I am a new to your channel. You give so many great tips.love it
Hello and welcome! Glad you are here! 💛
I hope all works put for you ❤❤❤
Train your taste buds to drink home coffee. Majority of the coffees taste the same, it’s the creams that change it up to her liking. Unless she drinks it black. But still she should leave to make coffee at home
Drop the life insurance. You don’t need it unless you have a spouse or children who depend on your income. She is single.
She is not single. She is thinking about starting family with BF. Which is crazy . Get married first
What is her partner paying for other than 50% of the rent. She is covering all the utilities, food and housing expenses. Is her partner living off her. Thank god they don’t have kids.
I’m so proud of her wanting to clean this up.
The reason this resonates with me is because my partner won’t do these financial clean up and goals with me. It’s really disheartening.
Great content!
You are teaching us, thank you!
Glad to hear that! 💛
wow very good explaination🎉🎉🎉🎉🎉and because of that im your newbie subscriber🎉🎉🎉❤❤
Oh yay!! I’m so glad to have you! 💛🐝
@2SisterBees 😘🥰🥰🥰🥰
What kinds of things go into the "household" category?
I like how you are doing this. This is how I do my budget as well. However, her monthly income is actually 1437 times 26 divided by 12, or 3113. It is not 2 times 1437.
Great video!❤❤❤❤
I would get rid of that 34K in car debt.
For sure - it’s definitely an issue but she can focus and get rid of everything else first.
What happens a lot of times is once that’s done - you realize on your own that the car payment is not worth it to you anymore. Debt becomes more and more difficult for you to just … have.
great video Jen
If she is only making minimum payments, what about the interest?
Great advice ❤
Hello Jenn, just found your channel🎉 The tips are so helpful and I appreciate you. I am wondering when your 2025 budgeting items will be ready?
Get rid of cable and go to the finance department of the hospital and they will let her either make payments or consider her destitute and therefore not owe anything
Back when I got married at 18, my parents and grand parents told me to NEVER get credit cards or car loans. I didn’t. Stayed ahead of the game. Sometimes we had to take on a second job to SAVE money and invest, not to pay interest to a bank. I refuse.
She owes $34,000 on a vehicle ? I have never paid more than $21,000 for a vehicle. That’s crazy that $34,000. Sell the car and buy a $15,000 car.
It is ALSO not OK not take her BF into account, if she talks having children. Girl, you will be out of job for period of Time and/ or you will have childcare costs. Not even talking about getting married first.
Wow you are so great at explaing❤
Thank you! 😃
OMG! I was there, feeling like a failure when I looked at me real numbers. But you are so right Jen, by making those small wins of first asking for help and doing things to change are WINS. I love this video bc so many people are feeling the same but there is a way out and better days are ahead for bc when she gets a hold of the true nature of being in control, it will be an amazing experience to look back and see how far she had come. Ty for sharing 😊🩵
I’m so glad you hear the message here. She has youth and a determination to work! She can handle this. I know she can. 💛
I believe Nay needs to chop up those crazy 🤪 credit cards, use cash only ❤
$500 is an expensive date night! lol. Maybe I am not very romantic 🤷♀🤷♀
Love your videos 😊 could you please tell me where i can get the debt tracker that is used and this video, please.
Hi - good morning !
It’s part of this packet - this is a plan to get you through Dave Ramsey’s baby steps 1 and 2 to save $1k emergency fund and then pay off all debt except house : www.etsy.com/listing/1714969150/
I can not get this pages to download and print. Only the first page (intro letter) will print.
Idk I think the advice at 13:40 isn’t very good. You can still learn to budget with a consolidation or a balance transfer. even if she just BTs the capital one cards she could save her monthly minimums for her SFs.
I think that mathematically - yes, you are correct. 💛
Hurt learn great advice !
I really need to fill out the forms
They definitely are an eye opener! 💛
In debt for 43000. Simple. They will get it when I have it, and not before😅
18?! Omg… praying for them
1. sell the car, get a $2k ride to get you to and from work or ride the bus.
2. cancel life insurance policies.
3. get married, combine income attack as a team. (didn't discuss his debt though...)
4. stop calling internet WIFI. wifi is the wireless technology that connects you to a network that may or may not have an internet connection.
You’ve got it all figured out so I went to look at your finance channel where you are helping others and - imagine my disappointment when I didn’t see one!
Let me know when yours is up and running! Looking forward to it! 🙌
Agree with all except step 3. If you plan to get married, the fiance should know the debt before marrying.
Hey Jen I can not get the pages to print I would love to get copy’s
You have to download the packet to your computer first - Then once it’s downloaded, you will be able to print it.
Look in your “downloads” for the file “Financial Snapshot”.
Just a side note: the pdf is editable, you can fill it in without printing it, if you wanted to.
Hello Jen, new subscriber ❤. I have been watching your videos for the last few days and I am super excited to get started on my debt free journey, but I have a question: How much should I spend to start my journey? And by that, I mean I want to do all the challenges, buy all the savings binders, purchase every budget binder, and savings envelopes i see because they are all so cute! I did my budget for this month/pay check, and after paying bills and paying off one credit card, I have just about 700 to cash stuff for sinking funds and all the things. I don't want to overspend on getting started, so what would realistic 'starter kit' look like?
Heyyyy! Welcome to The Hive!! Yessss!
Okay- so I’m super excited for you. Anytime someone tells me they are new- I immediately flashback to when I first started!
So so so fun!
First- freebees!!! There are so many savings challenges you can get for free!
Ours are here : drive.google.com/drive/mobile/folders/1VRf2dzNHV84v-oLIbufEnM3LlNcDpXcr
One of my friends did a video showcasing everyone’s free stuff :
ruclips.net/video/ByjcST51j5U/видео.htmlsi=ptTH1n_H-n6BRejc
Okay - now you want to focus on Baby Step #1- save your 1k emergency fund, yeah? Yeah.
So there’s a tracker in those freebees for you to get that saved up. So there goes your $700- $300 more and that’s done.
2nd Baby Step- pay off all debt except mortgage, using the snowball method.
….. oh lawd. Just email me. 😂
I’ll give your the DL!
🤩💛🐝
Actually watch tomorrow’s video @8:30 am
I directed it towards this comment!🙌
Super excited! Just watched your video on how to get your partner on board with saving and hoping hubby will get excited about saving with me. We already have a joint account for bills. We just have to get better with saving.
She has two life insurance policies, but no car insurance for her $35,000 car? Don’t banks require you to have car insurance when you are still paying off the loan? And I suit mandatory to have car insurance in PA?
Also, if she is only paying $100 a month for groceries she should be teaching people how to do that. Is she only eating ramen, rice and beans?
Anyone else notice that she owes almost a year of income on her car. I’m sure it’s impossible to sell because it’s upside down, but wow I can’t imagine what a burden that is.
If someone’s credit is good enough to where they can get one more loan- I would recommend it.
Get a loan for the amount you are upside down and get rid of it!!!
Library! You are in debt! Find free fun! Make coffee at home!
You’re like a gentle and kind version of Caleb Hammer
Hahaa! I love Caleb! 🙌
Caleb PICKS all the horrible horrible cases.
Of course he does- it’s for maximum drama so he gets the views. The issue isn’t him- it’s that people are in these situations in the first place. 🫠
Learn about the coffee at Dunkin and make for yourself at home!❤
Yes- she can get the inside scoop now! 👏
It's amazing how takeaway food and coffee can ruin your finances! I stopped buying these things, now can save 1000£ per month 🤯
Same here! Take out and food was where I was wasting MOST of my money. It was absolute insanity.
I am so glad I decided to change my habits and get out of debt. Has changed everything for me
cont to work y'all we got this!!!!!!
How can she work in a bank, without a written budget?
Hold on...date night sinking fund. Who is paying for the dates over there. Do they alternate?
I’m not sure. I know she wanted to start saving for date night as a reward for not spending on items. That last page is where they tell me what they WISH they were saving for. 💛
This young lady is too young to spend money on Life Insurance. D.R. would advise her to get rid of it and concentrate on other things she can delete (for now) until she can get a grip on these bills. D.R. would also say get rid of the car and buy something less. Don't forget, start selling your stuff. If you can work on Saturday you can work Sunday too. This extra income in just a few months will boost her finances.
Yes- DR always goes for that car but if she is upside down - it doesn’t do her much good.
Remember DR is on a “radio show” and can be a bit dramatic sometimes. 😂
The life insurance- again, is something that is her decision. I don’t know the ins and outs of why someone so young has chosen to have life insurance policies. I have emails and one 30 min video to help as much as I can - with getting them “ back on the right road”.
Those larger decisions are hers to make later on - once she gets a grip on the overspending and the small credit card debts.
It’s all a process. 💛💛💛
Life insurance is good at any age. Don’t want the burden left on family members in case, lord forbid, she end up in an accident that takes her life.
As someone who unfortunately has dealt with family members passing young I would never tell anyone life insurance is not a good idea at a young age. Car wreck, suicide, undiagnosed heart issues have forever changed my mind. A friend just had to bury her 6 year old granddaughter after a car accident.
Never too young to young for life insurance. Life can change in a second, and you have no control over that. Better to spend a few dollars a month and be prepared. My life insurance policy costs me $8 per month
I've been paying for life insurance since my early 20s. Covered
America has a Huge Spending problem and this is mindset that needs to change. It was also said by an anonymous financial adviser that Americans are NOT WIRED to save money due to it’s consumer mindset. This are the times when I remembered my mother who kept on telling me:”It’s not how much you earned but how much you’ve SAVED and this determines if you live another day eating or you starve to death!” And I kept this mindset and I never forgotten it and it saved me!
Savings should be invested to make money while you sleep
@@eileenwatt8283 And not only that?….but “Spend your money buying Experiences and memories….Never material things”- Bill Perkins -
America as country has huge spending problem first. The idea of ever ongoing growth is such an illusion.
If she sells her car, she’ll have enough to pay off pretty much all her debts and still have enough to buy a hooptie car.
She’ll be debt free and now can build wealth faster
Hi Jen! You put Nay on the right track, it’s so amazing! You have a gift for this and it’s a blessing to us to have you to guide us!!🩷
💛 I have complete faith in Nay- she can do it. 🙌
All the small loans will give you multiple little wins, as they get paid off
Absolutely! 💯
At least she has a good shovel/career/job to fill the debt hole. Sell the car and punch each debt in the face smallest balance to largest DR style. -Early debt-free Retiree
❤ good evening how are you doing ❤