Ground Up 014 - Getting Out of Debt 

Matt, I’d like to personally thank you for vastly improving my mindset on money and personal finance. In mid November last year I began a stint of being 6 months sober. With that and your money advice and tips, since mid last year I’ve managed to pay off my credit cards and save over £8,500. Which to me, a 23 year old photographer, is an incomprehensible amount of money. So, yeah… thank you man!

Matt, Id love to see Dave Ramsey on your podcast!

I heard this episode yesterday on Spotify. It spoke to me in ways most people may not understand. I went through Dave Ramsey's Financial Peace University this past spring for my $109,000 and growing student loan debt. I first started listening to The Dave Ramsey Show podcast less than 9 months ago. During that time, I read "The Total Money Makeover." That book, his daily podcast, and FPU helped me understand there was life beyond Student Loan payments. I went to school at Indiana University - Bloomington from 2005-2009. Thank you for sharing your student loan payoff story! Your story gives me that much more fuel for my fire 🔥to set an "unrealistically short" timeline and continue to throw chunks of money at the debt 💸💸💸I also see my money earned as a Self-Employed Photographer as "not my own"... it's the bank's money... but once I pay this off, I'll finally be able to call it my own.

As I prepare to take out 10k in student loans this year, I am watching lots of videos about finance, debt, and money management. I’m not sure what I will do in the future, but as helpless as i feel now, this is like a tiny bandaid on my ocean of worry about my future debt.

My husband & I went through Dave Ramsey's plan last summer and we still have a long way to go, but it's honestly been the best thing for our finances and our future. Just paying off a couple credit cards has already offered us so much more freedom than we had before. Your story gave me an extra boost of motivation, thank you!

I've been listening to Dave for 10+ years, he is a welcome dose of common sense in the finance space. Thanks for sharing!

Thanks man this def helps🙌🏼

Woah woah woah. You went to bloom for a while?! Dude I went to bloom from 05-10. What a small fricken world. Here i am stumbling across ur vids couple weeks ago, feeling so inspired by ur vids, i see that ur in LA and im like no way i could ever meet you one day. Come to find out you went to my fricken college!!! Haha. Wow. The legend of Matt Davella grows.

Thank you for comparing the different schools of thought that we should only have a credit card if we can use it responsibly. Personally, I prefer renting because I'm only living near family for a time and not ready to accumulate the expenses of owning a house long-term. Some people are really content owning & maintaining property.

Heh! Mazda’s are some of the most reliable cars out there! My 2010 Mazda 3 has only had speakers and some windshield wipers replaced, That’s it! Very fun to drive and not that expensive here in Canada 🥰 , Good talk thou! 😎👍🏻

I had a personal finance class at school. We watched a bit of Dave Ramsey...but I do want to be debt free as much as I can

Matt, this Episode definitely hit home. I'm my current on my way get rid of $22k of art school debt from $79k (graduated in 09 ) I owed when I graduated. Made mistakes just like you by getting a brand new car leased, Got a home with the help of my parents which made the debt even higher. Thank you for all the books recommendations, I actually found about Dave Ramsey while searching on RU-vid " Pay student debt". Which help me a lot with the snowball effect. I recommend everyone to check out his RU-vid channel. Keep up the great work. As your self I should also make a video sharing my experience with student debt and how i'm working to paying it off. Side note: You should make Affiliated links to amazon with the books. I would love help out the post cast.

Thanks for sharing this, it takes a strong self confidence for a man to share his personal finance story. Salute you bro!!

Hi Matt, I am new to your ground up show and listening to you content for now 1 week or so. I really really love it. I am not at all in to Filming, Acting or anything you do. So actually harder to relate. But we do have the same set of mind, i do things similar to you. Now something about your debt and you mentioned it in your podcast about the way credit works in the US. It is really crap and being a foreigner, living in a country that has a totally different system. I really think the US has to soon change their system because it is becoming normal to be in debt. So think about the way you could avoid getting in debt by not going with the flow... there are so many good ways and easy. But its us that has to break it. Same as minimalism and consume... We people have to find the solution and work against it or around it.

Love this video! I'm currently in the military working to pay off student loans from college as well as a car. Bad choices but its coming along! I set a short goal as well and that seems to keep me honest with the process. Great points!

Pretty nuts how the podcast has changed and how much you've improved since this video. You're doing great man.

Here I am, a year and some change later, I've been watching all these videos and this one hits home. I have a lot of unpaid medical expenses from not having health insurance and getting sick, plus student loans and a bunch of stupid stuff all from my 20's. I'm graduating in December, no job, no plan, but I'm really going to try and get out from under this hole I'm in. I can do it.

Clearing debt love the podcast. 🙄

I wouldn't say Dave's book has religious themes as much as He gives bible quotes about being in debt (how the debtor is slave to the lender) things that correlate or relate to getting out of debt, scriptures and such.

Refreshing thank you for sharing this. David Jenson Chicago

Nice perspective and attitude, I totally relate.

Watch 'Sam Hyde- How to deal with debt'

Great story and good recommendations. Pretty crazy how you got out of that much debt in your time frame! Hoping to do the same. Good stuff!

Matt, what I would like to see in the near future is you doing a vid on this subject. How you just said the credit card system is Dog Shit, then go more in-depth on that, I have always paid my cards on time and over the minimum due-ALWAYS. And the last year not including this year 2020 I have asked for a reduction in my APR. I was told there was nothing on the table that would allow that. Although I have explained my great history of on-time over the minimum payment and fico score, I was basically told by the customer rep that it didn't mean anything. Dr. Oz on his show said that the system is designed to make you fail. I think this information would be really important to share and how to navigate and deal with the BS. Thanks Matt......love your work.

Your talk about guilt is really hitting home right now. I couldn’t figure out why I’ve been in the worst mood the past couple of weeks. I might write down a letter to myself as well :( I’m in the middle of paying off my credit card, phone and eventually my car (10,000) left.

Matt, would it possible of you doing a video or a podcast about"THE IMPORTANCE OF FOLLOWING YOUR INTUITION TO COME TRUE YOUR DREAMS" Thank you for your content! It is amazing.

Understanding thought, whole structure of thought bcz to realise see the truth for oneself how thought is limited- dicisivethus whatever limited creates conflict. to see envy, fear, thought.... as part of oneself..... then.... . Jiddu Krishnamurti on RU-vid talks about how human brain ie our brain works...

Matt! I really want to ask you! If you could reply, it will mean a lot! What's your view on HOME LOAN? will you ever get into home loan? speaking of getting rid of debt.

Nice to have you back on the show :)

I was following Man vs Debt too for a while. I thought he dropped out of the field. Haven't seen any posts or activity from him for a while.

Agree about the credit card. Planning on keeping 1 credit card as my food and gas budget. Additionally I've been abroad before where a bank account was locked because they thought it was fraud. Need a back up source of money while you sort through that. I also know an elderly woman who doesn't have money like she used to and always paid cash. Her lack of a credit score impacted her options for a neighborhood.

OMG Matt, it’s as if I’m in that room with you and you’re directly advising me on my financial issues without being judgmental. When I have the money I’ll get one of the books you suggested lol! Thank you so much.

Dude, I thank you for this. Once I start making some Videos and Podcasts I'll be sure to mention where I learned to take it step by step. Love your channel.

After college I’m going to be 30k in debt :/ but I think I can do it. I know it’s not that bad but debt is still debt. As a teen I never had 30k.

Thanks for the motivation, Matt. A lot of people think there is only one way to do it but really it's about coming up with a plan that work's for you and sticking to it. Great video!

Very inspiring Matt. Fantastic job love the RU-vid channel

Currently racking up debt in college, this helped a lot for future plans of paying this off!

Have you listened to Clark Howard? I follow him often.

Great lighting already in 2017 thumb up man.

Matt, your podcast is great and super inspiring! Thank you so much

I love you man ... really the man inspired a lot

I get so excited when I get the notice that you posted a new podcast! Can't wait to listen to it! Always a great treat and super informative!!

Little does Matt know hes getting his idol on his podcast

Jesus Christ. Get on with it.

Which filter u used in this video?

Thanks for share your story

Planning on adding subs?

Thanks Matt for sharing your story. This is a huge encouragement for me!

Matt devella Ayyyyy

You rock!!🤓😛

Thanks

Hi...🍷

Great video, I really needed to hear this today. Debt effects every aspect of your life from health to relationships. It's worth the effort and sacrifice. Thank you again

I feel you man. I'm going to university this Fall and it's about $40k a year, and I'm not even staying on campus. It's terrifying, but a friend of mine told me a simple statement, "you have to spend money to make money." Keep up the good work!