Proven 11-Week Debt Payoff Plan | Best Financial Advice
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- Опубликовано: 21 июл 2024
- Having debt can be frustrating and discouraging, but you can soon be on track to becoming debt free! Follow these simple steps to successfully pay off your debt and being financially free!
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Stop getting trapped by debt with this complete debt payoff plan • Debt Payoff Plan Series
This video is the first in our series on how to pay off debt including finding the motivation to keep paying down your debt, making budgeting easy, finding money to pay off debt on any income and the credit score tips that will get you the best rates.
I start this first video by revealing the #1 reason people fail at paying off debt and I go on to show you how to make your goals real. This is going to motivate you like no other video you've ever seen. It's going to keep you on track to pay off your debt and create that financial future you deserve.
Paying off debt doesn't have to be boring and you don't have to skimp and save every penny. I'm going to show you how to make it all natural and how to pay off your debt in months instead of years.
- How to make your debt payoff goal an unstoppable motivation
- A trick that makes budgeting automatic and easy
- How to pay off debt faster with three of my favorite strategies
- What to do after you're debt free
Don't forget to click through to the debt payoff playlist above and follow the entire series. I may eventually turn this series into a paid course but you can watch it all free right now. I start out by revealing the debt payoff strategies that will work with any budget, even on low income, and finish by showing you how to get a perfect credit score.
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
#debt #credit #creditscore
Super excited about this debt payoff series. Let's get started! What is you big financial goal you want to reach that is being held back by being in debt?
Don't forget to click through the playlist link in the description above for the rest of the series.
Glad you're packaging a whole series together to really help people learn more than just the basics!
Thank you for this information you are teaching on paying off debt. First, I want to say you' re one of the few on RUclips I listen to concerning my financial decisions. Over the years, your channel has given informative, insightful and knowledgeable information to help individuals to be successful financially.
Payoff all my debt, including my rental property. Thank you, great video.
Another great video Joseph! I'm looking forward to watching the rest of the series! This is bringing real value to people.
Thanks Lacey. Debt is crushing so many people. Really hoping the payoff series helps.
You're a great man Joe. Thank you for your hard work helping people. I heard you on a podcast on money peach.
Awesome! Thanks Bobby. Thank you for being a part of the community.
One of my goals is to own my own successful business
Published a new video today on my favorite online side hustle ideas, might want to check it out. Best part of many of these is they can be started part-time with 5 - 10 hours a week and with very little money (or nothing).
So important to break down and write your goals. Thanks Joseph for sharing!
And it's actually a lot of fun writing down and visualizing your debt-free goals besides being really motivating
My biggest goal is paying off my wife and I's home in less than 10 years. If everything goes as planned we should be mortgage free in 7-8 years (34-35 years old)!
Awesome goal JJ. Any particular strategies you're using to pay off the debt faster? I've heard the biweekly payment idea saves quite a bit.
The main strategy I have is really just living below our means and putting as much towards the mortgage as possible.
It can really be as easy as that. Good luck.
Great video joseph
The actual thing that helped me pay off my parents' debt in under a year (30K) is actually understanding debt in general an generating a debt-free mindset. I know it sounds like bullshit and I agree with you on that because there are a lot of scam artist out there but the very first thing to becoming a debt-free person that you have to take is in your head.
I definitely agree that people think of credit cards and debt as spendable income, that mindset of using debt sparingly. Once you start thinking of debt as what it really is, easier to not avoid it.
Exactly, love it.
Hope to grow and prosper along side your RUclips channel, subscribed and rang the bell!
Glad to have you a part of the community. Really excited about this debt payoff series. Any particular topics in debt or credit you'd like to see?
Love the bow tie! 😉 Debt definitely traps people :( and yes, it's a tragedy! Great info Joseph!!
Thanks Lena. So excited about the debt payoff series. Thanks for the feedback.
Great video, Joseph! Excellent production and important information.
Debt has crippled our opportunities and that is why we are fighting so hard to get out of debt.
~Khaleef
Thanks Khaleef. You're making those hard decisions and fighting though so that's the important thing. Love following your 250 lb challenge. Stay strong!
Nice video , wish I could’ve seen something like this 5 years ago when I was in debt 🤔👌
Yeah, sometimes seems we have to learn the hard way on a lot of these topics. Just hoping the debt payoff plan helps a few people.
INVESTING HUSTLER - Stocks Money Entertainment yeah me too.
Hey Joseph I am in a pedima. I got mixed with a company that takes my money holds it until they make a deal with my creditors I think I did a big mistake because they're not doing nothing. I like to buy a house in 6 months and I don't think I'll be able to because they're not doing their job I'm actually getting my credit report looking at the credit report and calling the people making deals for myself. My question is should I quit paying this company and ask for a refund of all my money? I've been paying him 6 months I have over $1,500 saved up with them are they liable to give me back my money or do they rip me off?
Just paid off my CFP classes :)
Way to go Stephanie! Love that you weren't afraid to use debt to invest in yourself. Good luck with the CFP!
Owning a beautiful piece of land.
GOALS: 1.120' x50' Post frame shop dominium 3 unit lease investment property. 2. 56'x 64' tiny home manufacturing building and land by flathead river to place building and Start Tiny Home on Wheels Air B&B resort.
Can you please number your video's so we know the sequence to watch?
We've got an investment property we are trying to pay off ASAP. I'm optimistic with your tips!
Using that leverage for investment property is a smart move but yeah, it can be nice being debt free and just enjoying the cash flow. Good luck paying off the debt!
l commit to writing my creditors & settling for lump sum 20% of what i owe "payer as agreed"
would that be 35k gross or net?
My short term goal is to pay off $30,000 on two auto loans so that I have more money to invest in dividend stocks each month
Financial Freedom, never having to stress about payments or needing a job.
I like the emphasis on stress. It's all in how you feel about your financial situation and wealth.
Your email sent me to this video! Havent had such a worthwhile email in a long time
Always glad to help Beth. Welcome to the community.
I think this is one of the hardest things to do besides building your credit.
Staying motivated to pay off debt has gotta be the hardest thing. Lots of strategies out there but if you can't see the WHY then the HOW really doesn't matter as much.
My number one goal is to pay off credit card debt with in five years max.
Great goal. I think you can do it in less. Try making a payment every two weeks instead of every month or put your tax refund to it.
Buy a forever home, College and Jeep for my daughter and opening up a small business
Retirement. Keeping my home.
Retire this year Caribbean Vacation with my wife.
My house has its addition, the back yard is terraced. We know own the lots on both sides of us. We have landscaped it to include a natural pond. It is even more peaceful than I could have ever imagined.
My goal is to retire by age 62 or 65 and be 100% debt free
Goal - Pay off credit cards!
Business administration degree
Early retirement
Get 2 700 by the end of summer 2020
I'm 73 am I too old to think about retirement, lol?
I'm $12,000 in debt. $8,000 to my bank on a line of credit they gave me in 2018. By mid 2019 I lost it all too 3 different Filipino online dating site scammer girls.
Is that a valid negotiation argument to a debt collector or creditor when trying to negotiate a settlement? I mean I was acting in good faith, but the scammer girls took advantage of my feelings to enrich their own lives. Now I am in debt to my bank for the next 5 years?
I have been thinking about signing on with a debt resolution company? But I am also thinking of going it alone trying to resolve my own debts? I need to learn more about debt negotiating before I can attempt that tho.
My dental loan company keeps adding on bogus late fees every month plus interest. I make the minimum payments of $106. The late fee plus the finance/interest charge is $90, lol? So I am actually only paying $16 each month on what I really owe..........wonder why I'm not making any headway, lol...WTF?
Dental First/Comenity Bank = scammers. They gave me an account number with two zero's at the beginning. They never informed me that I was not supposed to use the first two zeros of my account number when trying to sign into my account.
So it took me like two months before they told me I shouldn't use the two zero's of the account number? I tried many times to access my dental account to make payment, but couldn't get into my account. So I had to pay via phone call. But they docked me like two $40 late fees.
I got a supervisor to give me credit on the late fees. But then he turned around and added those late fees on to my monthly payments. I refused to pay the late fees. So they kept on adding additional charges each month since the first month of enrollment. Because I didn't pay their bogus late fee charges.
Now they want me to enroll in their hardship program offer to pay $64 every month for the next 5 years? And that includes interest on all the late fees they charged me every month from the gitgo. Just a bunch of thieves in my book.
Get 2 800 credit score by 2022
My goal is to make some home improvements
Great goal Lisa. Take advantage of the free classes at Home Depot or Lowes and you can do a lot of the improvements yourself. Seeing the 'average' cost of kitchen and bath remodeling always makes me mad. Remodeling shouldn't cost that much and push people into debt.
One of my goals at 73 is not to die in debt, lol? But I guess that's one sure way to clear a debt...........die first, lol?
Get 2 730 by 2021
Get my credit score high so I can buy a house and invest more in the market.
Great goal Mike. First five videos in the debt plan series will be debt payoff, budgeting and that kind of area but next five are all about credit scores including a dispute letter template, negotiating debt and protecting your score.
Let's Talk Money! with Joseph Hogue, CFA I tried to get my credit score and they kept sending me another site and want me to pay when they say for free every year. I send for my credit score through mail and never got it. I want to know it so I can pay down some bills years ago when I was in the prison and homeless off and on for years. I just paid my library fines weeks ago after 10+ years, I'm investing and paying down on what I owe so far.
Yeah, I've got a video on just that subject (getting your free credit report and score) coming in a couple of weeks. There's only one truly free site, annualcreditreport.com, that is official. The bad thing is that it's like third on Google with all kinds of spam sites and ads above it.
Let's Talk Money! with Joseph Hogue, CFA I tried to get them to send it through the mail and never got one reply. I went to annual report on my credit score online but send me to another site where I got to pay. The whole point was to get my credit score so I can start paying money I owe from years ago, I don't have credit card debt. I wish I could know my credit score so can start paying what I owe, I invest in the market but I want to pay what I owe so I can invest more in the market and be able to buy a house.
I would love to travel the world
One of the big things on mine and my wife's bucket list!
Purchase a home!
A car
Sorry, a car what? Not sure what you're replying to.
I like your videos, but sometimes you say a lot... too much
Tryin' to get that info out
Please get to the point!!!!!!!!!!!!!!!
I believe debt is a modern slavery. Poverty is simply ignorance and the inability to get financial education will keep one in a mental prison forever.
I believe abundance is freedom. A.S.K. (The sermon on the mount Jesus gave is brilliant and effective). There is no lack and limitation in this world, only in our minds.
You make a good point. I don't believe debt can be slavery though because it can't force you to do anything. When people let debt get out of control, they become their own slave and slave master. You can use debt, you just can't let it get out of control.
@@josephhogue Debt control is relative. How much is too much? I guess it all depends on your balance sheet. Everything has a balance in life, even the balance sheet, lol.
By modern slavery I mean that slavery has evolved somewhat. Its not good enough to work hard and be a good person. Debt feels like it controls you like one would be controlled by a slave owner. I've found that financial education makes all the difference. At least for me it has....I don't know the person who said it, but ignorance is poverty, however, ignorance has an acquirable opposite.
BTW, thank you for your Marine Corp. service to our great country! God bless the service members who gave everything for our freedom!