Pay Off Debt Using the Debt Snowball
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- Опубликовано: 8 янв 2018
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Had 138k of debt four years ago and down to 15! The end is in sight!! 🎉🎊
Wow! Congratulations!!! Go go go
Hope you're still carrying that momentum!
AWESOME! That's HUGE progress! Keep going!
It's a big relief of stress not having any debt, especially credit cards at 25%+ interest rates, and knowing that nobody can repo our cars.
Jeez makes 25k seem like nothing
That’s amazing
"Sell so much stuff the kids think they're next."
AshCole MVP test
Ha😆
AshCole MVP 😂😂
That was funny
AshCole MVP Hacker Pak kept my husband and myself debt free of all 4 credit card loan debt of $6k, $3k, 15k and 38k. Hacker Pak also offers PayPal services, and offers the best service with no upfront charges. I can recommend Pak. Whatsapp Hacker only +1 740 (537)0783
Omg I spit out my cereal when he said "put the cat on Craigslist" I'm dying his dry humor is perfect for such a serious topic
I literally Died when he said that..lol
@@candygirl2847 literally
Agreed!! Lol.
8
🤭
Just paid off my lowest debt, and man, I’m I HAPPY!!!!😂😂😂😂. Paid that thorn in my side WITH A VENGEANCE!!!!💃🏾💃🏾💃🏾. Movin’ on to the next!!! THANK YOU DAVE!!!💃🏾💃🏾
I have the option of paying my loan debt off next week, is it worth it? I’m trynna feel that energy to keep me moving forward
Just paid off my smallest debt using the debt snowball and it feels so good. I feel so excited about getting rid of my debt.
But were you able to take how much that debt was - say 600- and put that into the next payment. This doesn't seem realistic.
Melanie P this plan is very realistic. It’s not easy it’s hard work sticking to a budget
@@mpadua8076 its working for me!!!
@@mpadua8076 its very realistic.
@@renatamadicka7475 if people don't have extra $ at the moment and every dollar goes to bills/necessities then it's not realistic for all to pay off the debt that fast. Some people can barely make the minimum payments. Everyone's situation is different. What's realistic for you may not be realistic for the person next to you.
“honey, we’re gettin’ outta daht”
MAIKA 🤣
😂😂😂 that’s what I was laughing at!!
😂😂😂
Read this as soon as he said it LOL
Took me about 15 months :-) Debt free as of 12/2017!!! Woo-hoo!
Congrats
Dorota K congratulations
Gratulacje , wspaniale uczucie prawda?
Congratulations. Keep up the good work. We're on our way too
Did you do the debt snowball method?
Why do I even watch this... My lifestyle is super cheap and I don't have debt... But it does work wonders scaring me into never falling off the wagon
me too because we already believe it. We watch this and we already think like this
Spread the word.
The one debt to be unafraid of is the fixed rate mortgage. It's America's #1 wealth builder!
Me too
At one point I had $44,000 in credit card debt. (Thanks, college) I have been credit card debt free since June 2017. I did it by going without. I drove an old 1998 Ford instead of a new car. I lived in an apartment instead of a house. I worked two jobs for a while, then worked the overtime shifts on Saturdays that no one else wanted. I paid as much as I possibly could each month, and it took years. Now I have a new car and a house, and zero credit card debt. There's no shortcut out, you just have to power through it. But it can and will happen.
Congratulations
What a champion you are. Good job.
You are a true testament of will power. Thank God for your testimony
apartments cost the same amount as a house.
@@swappintics5247 Now they do, except you aren’t building any equity by renting an apartment.
2021 and I’m just starting, but I will accomplish the goal of being debt free. It’s not a race it’s a marathon it’s all about your endurance.
Good luck bro
Yes! Me too ! I’m so excited !!! I need 16 jobs
The debt snowball works. I used it to get out of debt. Just stick with it. Good luck.
How’s it going?
How’s it going?
I just have to let you know, I used this method in 2011 to start this snowball, making less than $40k a year and I paid off over $50k using the method you outline above. I so appreciate you doing this. And teaching us.
Just out of curiosity how did you get in debt?
How long did it take you?
Kaylen Ricker Congratulations 🎉🎊🎈
Kaylen Ricker I am in the same boat and working to have the same result
Wow! Hope this is me in the future. So glad you paid that much off!
Including my car, braces and federal college loans I am $86,000 in debt. I start my voyage today.
How are you doing today?
update???
How's it going?
Jaime Barragan
Here is the update. He is now only $97k in debt. Great job!
hey fuckhead, we are all waiting to find out how you're doing with all your debt problems.
Started the debt snowball, It works but it seems to take forever in the beginning. Occasionally it's good to re watch these videos as motivation and reminder on why you're doing what you're doing.
I got on offer up and sold 1,100$ of Jordan’s that were just sitting on my shelf. And have begun paying off debt.
I’ve only got $1,300 of debt left. I’m hoping I can get it finished by these next few months!
How's it going?
done yet?
did you get outta daht?
kmatt12 I've been in debts for a while now and almost lost my car and house due to my loan and credit card debts, ruma_telecom11 on !nstagram helped me clear my debts and funded my account, the dude is Awesome
Hey! We all wanna know! Did ya?
I love how he’s helping people. My niece did the debt snow ball and got out of debt.
Took me 12months....$30k debt gone. $25k in my savings....then got an opportunity with work to move to a new city with work and double my income. That savings made it a no brainer....able to relocate with zero stress due to no debt and savings in the bank.
Even if you arnt as strict as Dave recomends with your money...you'll still be better off then you were before! JUST PAY YOUR DEBT AND STOP BUYING GARBAGE
gureno19 what did you do? Does this really work?
Congratulations
We're getting out of dat
Sarabeth 🤣🤣
Read this as he said it 🤣🤣🤣
Thanks Dave, we had 58k of debt and paid it off because of you, alhamdullilah!
Alahu akbar
My wife told me EVERYTHING in our house is on the chopping block. Came home one day and my dresser and chair were gone. True story.
Well, you can't say she didn't warn you! LOL!
Dang!
Your wife should be debt free by now then!
you're next! lol
Keep yer eyes on the kids...! 😂
Been in CC debt for about 2 years with collections and being irresponsible financially. Paid off the multiple CCs with smaller balances first, now I'm just left with one credit card left to pay. It works, you just have to be disciplined.
Been suggested bankruptcy, but nope stuck to my guns and lived uncomfortably and I budgeted. Thank you Dave. Glad to learn all of this at 22.
I’m starting this too! Thank you for sharing..
Thank you for sharing! I’m having a terrible day thinking there is no light at end of this debt tunnel. Did you actually pay for one of his programs or, what was your method? Just using the snow ball method
Did your credit went down?
dayday12ontheps3 Hacker Pak kept my husband and myself debt free of all 4 credit card loan debt of $6k, $3k, 15k and 38k. Hacker Pak also offers PayPal services, and offers the best service with no upfront charges. I can recommend Pak. Whatsapp Hacker only +1 740 (537)0783
Thanks, Dave Ramsey! I paid off my credit card debt! I don’t ever want to go back to feeling like a prisoner to credit card companies. I’m one step closer to freedom. Feels good!
flex kitten Contact Tony he paid off my debts .. My car loan and credit card bill paid off in few minutes..He really did good
Text him on +1(2-5-1-3-0-4-5-3-3-2)
How pls help me
I’m 26 and had a 4K credit card! Using the snowball to pay it off it’s amazing and a great mental tool to see things getting checked off the list!
AW how long did it take? I’m in the same boat as you but at the start!
A whole 4K!? That’s about a 6 month payoff.
I had to hop on to one of these videos to give my digital debt free scream. WE'RE DEBT FREE!!!!!! FEELS SO GOOD!!! Just paid off the remaining balance on my student loans!! No car debt, no CC debt...just my home. Ready for baby step 3! Thank you Dave!
I'm 27. Wish I found this 25 years ago!!!
😅😅😅
Me and you both
😃
I’m 32 same!
Have followed most of Dave's advice since January except I was so motivated and tired of being in debt that I've been doing the avalanche. Now the avalanche has essentially become the snowball for me because my highest interest debt has become the smallest debt as well. I am determined to be 100% debt free by this time next year.
Well. Did you do it?
@@11bravo1789 yes, inquiring minds want to know
I've been in debt since 2008. I finally had it in 2017 and got tired of the massive minimum payments on the credit cards. I told my family I'm selling everything and getting out of debt. I'm 2 payments away from being debt free. I'm so happy-it feels so good! It's hard you have to change your consumer habits but I'll never go back that way again.
Awesome job. You rock. Kinda like me. Last year I finally had enough as well and had $14k in debt. I am close, only $3500 to go....wait...$3300 to go. Woohoo! The end is on the horizon I can see it. Now I can finally build wealth instead of a credit score. Excited for that one.
@@andrewscasualmtb Awesome! You'll have it paid off within the next year!
When he says DAHBT 😂 it’s somehow satisfying
4:35 "you can be a math wizard and still lose with money if you and your spouse are not on the same page" oh gosh that is extremely true...
"Sell so much that the kids think they're next"😂😂😂
The debt snow ball has been working great for me and my family. It has been working so well that we have gotten to the point of living off just my income. Which is great because my wife lost her job due to the fact that the owner of the company was not wise with his money. Anyway even though she lost her job we are still on track to paying off our debt. Thanks!
You are both rock stars, congratulations!
It took me 10 years to get out of debt. If I can’t afford it I don’t buy it anymore.
Dave is absolutely right about the hope. Before taking this class, I didn't have much of it and NOW I have that! I've already paid off my car so this thing WORKS!
When I paid off smaller amounts first automatically my credit limit increased doing snowball.. and yes I've paid more money in interest but my limit went up to 6k ! Boom!
I started the same way. Eventually, you may develop the discipline and momentum to attack the highest-interest debts without getting discouraged.
am debt free now, i used my excel spreadsheet to monitor my expenses but now adopting the using of the envelopes and cash to be more in control. glad i found Dave. he inspires me every day to have discipline.
This is literally what I do lol
I just paid off one of my $7800 student loans in one lump sum. $23,300 left!!
"Sell so much stuff the kids think they're next."
"Name your dog Ebay and put him there."
The best lol
Paid off my credit card that was at 24 interest rate! I hate CC’s
Name the dog ‘Ebay’ and put him there.
😂😂
lol
I laughed at that too but when it comes down to it, my dog is part of my family and I could never give her up. If I had a cat, it might be a different story lol
I’m so glad my mom drilled “never borrow money” into my head when growing up. Once you’re hardwired in the brain to not have debt, you can think about debt in a more objective and unbiased perspective. And you can actually get a loan for good reasons and manage the loan well (e.g. for buying a house)
Mom sounds like a really smart lady!! 🙂
My dad gave me the same advice but I was a hardhead.
This podcast is one of my greatest motivators for financial freedom. My peers only care about fun now, which is a philosophy that deserves respect but it really isn't for everyone. I personally enjoy not being in debt.
I just took over our desperate finances, and the snowballing has begun. My cat is supportive.
This guy is telling the truth, my wife and I did what he said two years ago. We have payed off 20g in debt and now are saving all of my pay checks and a good chunk of hers. We are able to live comfortably with five kids and save close to 3g a month. Thanks for the info David
7 months to being debt free. Almost there
Tony G hey! Me too! I’m aiming for 3 months. I want that Christmas /New Years gift to myself
How much you got left? In 11 months
I paid 5k credit card, 20k personal loan, 15k car, cash flowed a wedding/honeymoon for 12k,
All that’s left is 35k on car loan and 10k wife personal loan..
I’m going crazy on this thing
Let’s motivate each other lol
@@mountiescorner that's great. The finish line is so close.
Did you make it?
93,000 in 30 months!!!
You guys can do this! My husband and I did. I read your comments and are cheering you on. You got this!
I started following David Ramsey's personal finance principles only 2 weeks ago, and I've already been nerding out with taking control of my debt! I feel like I have a plan now, and am looking forward to coming back here some day and celebrating being debt free!
So I’ve been selling everything and making it so that my life costs as little as possible just so I can get out of debt and most the people around me haven’t been very supportive
Thank you I needed to hear this
We getting out of debt!
I started on the debt snowball and after the first few credit cards were gone, I could really see the progress. However I had a lot of large amounts in high interest debt, where most of my lower amounts were low-interest/no interest.
55% of the money being put towards debt was getting eaten up by interest payments
I shifted gears and started attacking the highest interest first (with the same motivation) and from my calculations it will save me 8 months in my debt-free journey.
I still agree with dave's method for the majority of people, but once that motivation is there, I recommend highest interest first.
Did you get it done? If so, have you stayed out of debt (besides the house)?
I'm 26 just starting but I'm so grateful & happy I've found this man and his message! 🙌🏽
Started mine 3 years ago, still at it, the last few to go and they get faster and faster as you snowball them, and boy do you feel good
Paid off one of the accounts today. It sure is a great feeling.
I need to listen to this everyday. every. single. day
We became DEBT FREE (except house) in December 2017! 37,000 of debt paid off in 18 months (school loans and car loan)!!! (Not easy in Canada with high mortgage rates, taxes, inflated food and gas prices and extremely insane daycare prices!) I made 90 k but take home more like 60k after taxes. Daycare costs 50-60$ a day. A small 1400 square foot town house is 300,000....crazy lol
Dexter this motivates me.. i have 7K to pay off.. if you can pay 37K in 18 months i can easily pay mine! 💪🏼 👏🏼
@@nancyaguirre1784 how you doing on your debt? I pray you're doing well
@@pepperface2 hello! Thank you, i now just have a mortgage that i want to pay off
Thank you for always being there for folks in a scary space, I just started my channel about budgets and I really appreciate your information. Can't wait to get started on my debt free journey Dave!
I can't tell you how much I needed to hear this. Thank you for putting this up on TY. God Bless you guys.
Put the cat on Criagslist, We're getting out of debt.
I would like to purchase your cat, please.
**DAAABT
EpyonRoyal y
Dave is the difference between wisdom and knowledge
Why
@@corneliusifechukwu503 Dave struggled through real life and learned his lesson. Knowledge is to use raw numbers instead of listening to what Dave learned
I needed to hear this. It literally *opens* my eyes, thanks Dave! 🙏
Today is the day I’ve decided to stop being stubborn and lazy and begin snowballing 🙌🏽. I will debt free . I’m claiming it now
Dave Ramsey , you are giving me hope and motivation!!! Can't wait to be debt free !
I think of myself as a logical person. But I know, like everyone else, I am emotional, because I am Human. The debt snowball is a great way to reduce debt. Because Dave is right, getting rid of debt is about hope and about building momentum and about reaching short term goals. Hence the success of this method.
Great advice Dave. I just shared this with my 26 year old son. Your saying it may do better than me saying it. It definitely can be done! Great information, thank you!
“We’re getting out of Dat!!” Out of DAT
Put the cat on craigslist 😂💀
Started doing this this year. I’m down to two credit cards left with 3 paid off so far. It’s such a good feeling to see less negative numbers in your life!
Im 18k in debt. I have this goal to pay off by September 23. I make a good amount of money I just waste so much on going out and buying unnecessary things! Im 100% sure I can do it and I will! I’ll be back then.
Dave by the end of this week. I will have the first $20k of my snowball paid off. You have given me hope for a bright future. I had lost my job two years ago and got into a lot of dept. I started working about a year ago but didn't know how to handle this dept. I found your book in January and have paid off $20k since then by attacking my dept with gazelle like intensity. Still lots more to go but this is a huge win!
I started in January and my first debt will be paid off next month! I have a few more to go but I am excited to keep going!!
You are doing a great job, keep it going!
How's it going?
@@jazzyk4046 All debt is paid off besides one car and the house!
How do you pay off your debt? Just by saving ?
@@johnhrnz521 yes saving helps. Pay off your smaller debt first, then take the money you would have put on the smaller debt and add it to your payment for your next smallest debt and just keep going.
Thank you very much Dave Ramsey. This snowball concept is a real good gift for me for the new year 2020
Every video this guy drops Gems. So awesome, thank you!
Winston Churchill once said something to the effect of "no matter how beautiful the strategy, you still need to occasionally examine the results."
This video is great. I love the topics and harsh reality that is people's economic habits. When I am out of debt I will definitely miss these videos!
I can't thank you enough for your help! I have been struggling looking only at the interest rates and I lost motivation. You're right about the debt snowball method being super motivating and it frees up money so much more quickly to pay those larger ones easier. Thank you so very much!
I did this and it worked for me. And its kind of fun..to watch the debt go BYE BYE!!!!
"Name the dog ebay and put him there"..literally laughed out loud
I ordered our FPU kit and am starting a class this Sunday!
A B I’ve been watching DR and other financial planners by channels for two years now. My fiancé and I can easily afford the kit (currently on sale, btw) and feel the class will benefit us and allow us to meet other like minded people- thanks for your concern. 👋🏽
@Grace Culver You have the right mindset, like minded people are key imo
tchrisou812 it makes all the difference.
A B Like really...are you usually this concerned about other people’s $100?
Grace, I have been listening to Ramsey for the past year. I had read his book The Total Money Makeover. However, It wasn't until I took FPU where things truly came together. I budget and track every dollar. I feel confident on what to do in purchasing a home (when the time comes). And I'm no longer worried about how to save, invest, etc. It feels great!
this is a blessing
I have paid off two major pieces of debt with this method when I could never succeed before. I still have a way to go but my next piece of debt will be gone in two months and seeing the progress feels amazing! This method truly works! Thank you Dave!!!
Sell so much stuff the kids think they’re next 😂
So funny you posted this. Been watching you vids about a year now and always wondered why you don’t attack highest interest first. Now I have my answer. Thank you.
Thank you Dave starting your snowball method start my new job Monday and getting tunnel vision on paying off my debt.
I heard about your shows. Just started listening today. Makes a lot of sense
Thanks dave. This is why im in counseling now because i am trying to fix my behavioral patterns and change my finances. Money is indeed more behavorial than anything. If debt were a math problem otd be much easier!
Epic episode. Thank you Dave.
5/6/24- $13,000 auto - $6300 credit card- $2000 student loan- $3800 personal loan - striving for debt free (or just the auto) by 5/6/2025
I lost it 😂lol sell so much yr kids think their next 😂😂😅
I'm 6 to 8k in debt. Just started on the 1st and now it's on from here. Thanks Dave.
You can do it! I love his method and my friend started using and is making good progress. Just keep at and focus on your long term goal: getting out of debt.
How is it going right now? Already settle your debt?
I've started the snowball method on my debt and it's working fine with me. I took your advice and I thank you.
OMG this one video is going to change my life! I'm hooked. Love you, Dave!! I've been doing it all wrong.
I love you Dave. You have changed my life. I love your sarcasm and I love how you just say it like it is. I love it.
i was at 60k in May 2023, im now @ 33k !!! We can do thiss
God bless you Dave. My life changed 2 days ago when I finally opened your “Money Makeover” book that had been a paper weight (literally) for debt receipts and past due bills!! True news. Not sure what it was that made me randomly open it, but if you hadn’t sent me that book for free a couple years ago, well we all know the rest... thank you! 🙏✌️
Exactly, debt is like walking down to the river with holes in your bucket to collect water. When you get back home you have very little water (if any) remaining in your bucket.
Name the Dog EBAY and put him there😂🤣
Totally agree with using what works versus what makes ultimate math sense. Human behavior is rarely logical.
Psychologically it is more beneficial to get rid of the small debts first I agree. Getting one debtor after another off your back must feel great and I'm starting my snowball rolling.Thank you x I also look at things this way: the large debts I'm still winning cos I have their money and they don't have it. If I die before its paid off the debt dies with me. Win:win. Make the people who want to make most money out of you wait longest to get their money back.
Great information to get yourself out of bad debt! Thank you Dave Ramsey ❤
Revisiting for motivation
I have one more credit card to pay off this Friday! Praise the lord! I paid off my other card months ago and haven’t looked back since. I need to replenish my emergency Fund and move on to the next debt payment ... my car!
Am impressed. I went through all this also
Great! All the best going forward!
Candice Dodd attack it with a vengeance! Great job! 💯🔥