I Have $70,000 in Credit Card Debt! 

You better thank God for 500.00. Lol 😂

Congratulations 👏

Congrats I will be debt free in early March

Congrats! How long has it taken to pay it off?

@@ichirot3348 it took 22 months to get ride of them all! Never ever again!!

Congratulations!

Lol

Yep, I’m a southerner and that’s exactly what that translates to!!

🤣🤣🤣

That's funny :)

😩

Because they have smooth brains

10k seems manageable, so people dont see it as a threat. But when your credit card debt is more than your annual salary..... Thats when panic sets in and plastic surgery occurs

It was 22k for me. Never ever again!

@Juan I freak out if I gain 5kg and immediately correct it

My breaking point was right under $12k. I was making in the mid 20k range. I am making 45k-55k now and have paid it down to 5k. Hoping to pay it off this year.

For a second I thought you said you went down from 24k to 660k, and I was like what?😅, lol

@@ll-vt1ol I think at that point, I’ll be better of filling bankruptcy. Lol 😂

Congrats!

Congratulations Tony

How did you do it?

Yeah never pay back money that you borrowed...you go girl......

@@davidchrist428 you must be slow

Yep! I AM that lady! I paid it ALL back and now I am thriving. Fast forward a year and I have no liabilities and all assets and growing! If I can do it, anyone can! Thanks Papa Dave for your much appreciated guidance 🙏

Someone needs to pay for my free credit card travel I guess 😁

now I see why banks execs get yearly bonus

If I can find an ETF with such ROI.

@@howlbeast execs in any industry get bonuses

Not just the banks. I get $900/mo. dividends from MasterCard and Visa in my Roth.

I am moving into my first place in April and I’m definitely screenshotting this so I don’t go crazy. Thanks!

Well done...👏🏿👏🏿

Well said. Forget appearances! Take your time. Also thrifting can get some AMAZING and unique items, its not just a money saver 💜🤗

Also its weird but I'm in CA and the affordable housing market is high but they keep building condos and expensive places. The housing market is very strange.

Love your comment. That's how it's done!

Not with interest. Interest is the root of all evil. It’s why places like Africa are in never ending debt from all the interest. It’s the reason why students can’t pay anything off from all the interest piled up on top of that.

@@ramalam1988 Why should anyone/company let someone borrow money if there is nothing in it for them then? Just do it out of the goodness of their heart?

@@ramalam1988 seems to me africa has bigger issues than borrowing money with interest. just spitballing, but corrupt governments, ethnic wars, islamic terrorists, etc may also be contributing factors.

70k in credit card debt and at 20 % interest that is 14,000 USD in interest every year. (with 15 % it is 10,500). When does the interest charged equal what they lent her ? - It is with factor 70 (or 72). You need to multiply 20 with 3.5 to get 70 so they need aprox. 3.5 years. or close to 5 years with 15 % interest (5 times 15 would be 75). They would never have made those deals with a reasonable person. But they have a good chance to get at least back what they gave her as she continues to pay (a lot of the 70k are likely interest she let pile up). They made money like crazy off her (I guess she did not pile that up in one year - a person that does not have the bad and costly habit can't possibly pull that off, she / he would have a mental breakdown before. You have to see it over her life cycle as CC customer. She has been fleeced by them for years already.

@@God.Almighty borrowing money with interest is what led them to be poor cause of the non ending debt they’ve been crushed with. What are you talking about other problems . That’s the biggest problem they have. It’s what put the economy on its knees. Dave Ramsay preaches the lord in the Bible yet Jesus Christ condemns usury /interest. All past nations in history have.

Inflation. All the things I don't really need now will be much more expensive when I don't need them in a couple years!

She was in the dark spending like the Joaness, now she's coming toward the light.

If I don’t have cash for it, then I don’t need it. Having said that, we do have money set aside for emergencies. Blown tire, repairs to our cars, replace an appliance. Things like that

Life happens

@@704ab so the credit card companies should cover peoples ends meet?

Eventually he'll say: "sell yourself"

@@jojachow well u r the biggest liability so it makes sense

Only if your not doing anything about changing it! She's doing amazing ☺️ Good luck 🤞

indentured service

😂😂😂😂

Agreed. It warms my heart!

YNAB is the nutz

Hated ynab and use mint

YNAB MASTER RACE ༼ つ ◕_◕ ༽つ

I used to use mint, YNAB was too confusing for me, and now use EveryDollar which is truly simple AND aesthetically pleasing. 😊

@brutha kc LOL I know I was so shook when she brought up YNAB hahaha And Dave shut that down so quick (obviously, since it competes against his app/business) I love YNAB though, it has absolutely changed my life

Unfortunately she said it about the wrong thing. You need a budget is the best budgeting app on the market

Ditto 🤣

I can understand forgiving the interest but not paying the principle is stealing

I paid off mine and will never get into credit card debt again

Visa and mastercard are not banks... they get their revenue from the transaction fees

What would kill ME is that 20 % on 70,000 are 14,000 PER YEAR. (if they "only" charge 15 % it is still 10,500). I mean for a biz or a mortgage that amount can be justified (at reasonable interest rates). But annually giving 14k to the vultures ??

Can they touch your homestead????

​@@pearlperlitavenegas2023 You've asked a very complex question. In Texas I have only done wage garnishments, bank levies, and recorded abstracts against property. If you are worried about a possible foreclosure, you should seek a out local attorney. My educated guess though would be yes, they can record an abstract on the property and when you go to sell they will collect then and 10% interest that has accumulated in the mean time. Unless they have a judgment for foreclosure, I do not believe they can foreclose on the property and collect that way. To answer your question of can they "touch" your homestead, my short answer is yes.

@@sitiwrattz Forclosure?! Yikes! I'm not in any Financial Distress. I was just curious since I live in TX & have heard TX is a debtor friendly state & creditors can't take a debtor's homesteaded property, garnish wages, blah blah blah.

Me too, it’s amazing how she picked her self up and getting out this mess.

You have to wonder what went through this simpleton's head when each month she saw cc statements coming in: $15K, $25K and so on. "Oh I'll just keep goin'! Ah jes bought mah new home!"

No single employee represents an entire company.

Yes do it yourself!

I agree. I feel the same about student loans. You take out hundreds of thousands of dollars and make more money than the GDP of Cambodia, yet you “deserve” to drive a bmw and live in a 5000 square foot house but not pay your loans back. I agree though that there should be upfront counseling and the interest rates are a bit high.

Yup. It’s theft in my opinion. If you borrow money you pay it back. No exceptions.

We can never justify that morally. O I agree that is a mistake to rack up debt to the level where you couldn't even able to make a minimum payment. But the debt collectors have already bought the debt on pennies on dollar. So it would be okay to negotiate and settle (unless you did rack up debt to dodge willingly).BTW credit card is a worst financial instrument.

Agree as well! I'm not hearing a job loss, health issues, medical bills, etc. Probably the house issues were a 40k kitchen and bath remodel lol.

Debatable I suppose. Credit card companies are notoriously predatory. At a 26+% interest rate, I wouldn't feel morally wrong for paying off the debt at cents on the dollar at all.

Almost there!😮

It’s called stupidity

This is really possible depending on your investments curve. Just invest wisely.

plan your investments with good portfolio manager and I can assure you that in few months your account will be more than you dreamt.

This is more than possible with expert professional. Get yourself one!

I made my first million through Maria Leda Goebel . She is accredited and licensed. She lives here in the USA and you can reach her through the web.

I cant believe people do this

She has more debt then i spend money in my life

Would a Pepsi spokesperson endorse Coca-cola? He's well with his right to promote his business especially on his business's broadcast show

@@crooks_da_great7789 he is, and I have no issues with him telling people to use his app when they have no system in place. To tell her that what she's using is wrong doesn't help her, and it's not true, because fundamentally they're the same (zero based budget tracking). The act of tracking your spending is the important part, no matter how you do it. If she felt comfortable with ynab, she should keep using it. She can still follow Dave's advice in other areas and follow his traditional program.

And I’m over here using google sheets for free 😂😂😂

I 100 percent totally agree with this comment very well said

This is common sense!!! When I have signed for anything they alway explain the terms, so I never understand this.

agree! I dont get why people do private sector loans at crazy high rates, maybe its desperation, could be stupidity, or addiction

Spot on

I had a cc debt $27,500. I paid off every penny. It hurt. But it was my fault. No one else’s

Same here!!

Nope

except for a mortgage at 2.875%

@@xxxBradTxxx I got 2.65% lol

Nah. Just settle with the companies

It is one thing to settle, but Dave kind of celebrates it sometimes. She did borrow the money. Not paying it back is theft. We all pay for it.

You don’t know if people actually need money for emergencies. Not everyone makes 200,000k a month. Chill out.

Yeah let’s bring back debtors prison 🙄 get off your high horse

I agree. My mom told me to file a proposal. I refuse. I ran it up, I'll pay it off

How much does that pay? If you don’t mind me asking.

@@jzam3220 not at all I started at 15 I'm at 18.26/hour and opportunity for bonuses a co worker made 26k in bonuses I didn't make that much in bonuses. Look up alliance data services if your interested.

You’re a spammer too aren’t you.

With no endorsement 😂

you can see on his face uncle Dave hated it 😂 😂

ynab is way better than everydollar.

Sounds like she bought it then needed repairs

I think it’s much more expensive though from what I remember

I never trust a budgeting app that wants my bank account information or access to my credit accounts. Gee, what could go wrong there? And my bank’s security dept would never let me be stupid enough to do that.

@@barbararepko4824 you can manually enter transactions. That's what I do. No link to any accounts.

@@barbararepko4824 That is an optional functionality nobody has to ever use. It's there for convenience for some users. Want to go full manual? That's YNAB's original model, and they do advocate for it.

It's about time somebody told him

Some people have 10 jobs to get their hours up per week. I hoping that those in debt are paying for their stupidity by working 70 - 100 hrs a week at least.

"Biblical principles"