Start from the beginning of our debt payoff series, how to make those goals real and a motivating force to help pay off your debt ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-szYkbEEiL08.html
I like watching you instead of Dave Ramsey. Thank you for putting this together. I am paying off my truck but I still invest. My ROI is higher than my truck interest rate so I am happy for now. Lmao RAVE Damsey!!
I'm tough on Dave sometime but he does have some good points. He's helped millions so I can't fault him on that. Been following your RobinHood portfolio updates, great videos!
Let's Talk Money! with Joseph Hogue, CFA I am always excited to see you on my channel. Thanks for supporting me in my journey. :) I still love Dave but he is very aggressive haha
*BAD DEBT. I love how you specified it as not all debt is bad. A lot of good investors (probably the most) use debt to leverage their potential profits (even if they have a lot of money).* *Remember what Donald Trump said: "Without that small lone of a million dollars,....*
I went totally independent in 2013. I still freelance equity analysis for a couple of clients but mostly just run my own online assets (4 blogs, 10 self-published books, and this channel). Loving the internet entrepreneur lifestyle!
I very much like what you're doing! So, instead of doing a blog stuffed with all kind of content where people get lost, you chose to go with niche content. This is really inspiring for me.
I use Rave Damsey as a motivational tool. His rants are just legendary. I just have my mortgage as a debt. Nothing else and we can make monthly payments without any trouble. I have a month of expenses in my checking, and working of 5 to 6 months in savings. I started investing as we don't get much interestrates on savings (almost 0%, think 0.01, thanks Draghi). The most we invest in are dividendpayers and REIT's. Also fixed income is something we are looking into, and own a bit of. I've seen my parents get into debt, and probably never get out of it. Decided that's not my life and will do what it takes to build in safeties and expand my family's wealth. That's the idea, and it's hard work for sure.
I've got a couple of interviews coming from Dave Ramsey people (Chris Hogan and Rachel Cruze). I generally like his stuff though I disagree on some of his investing advice. Love the dividend stocks and REITs, hard to go wrong with the cash flow.
@@josephhogue That's the fun part of investing as well. More roads lead to Rome. I don't know what they are to Dave Ramsey, I know their names but that's it. I've never seen a Dave Ramsey show as a total. Only bits and pieces of it. Would be interesting to see what they have to say. Keep these debt questions in here from time to time. Even if you have no debt, they are still a reminder to keeping an eye on you finance.
If I am debt-free, my credit score is going to be much lower than 720 because I have no different types of loans, no mortgage, no revolving debt, no installment loans. I've already noticed a big drop when my mortgage was paid off. Does that mean I'm always going to have a low score and if I wanted to get another loan, will I be stuck with a high rate?
Eventually when you have no loans and no credit history for a year or so, your credit score will just disappear. They call these 'unscoreable' because there isn't enough info and it makes it really difficult to get a loan. Best is to use some kind of credit and pay it off every month so you pay no interest but keep your credit history.
Do you mean revert to strictly revolving credit? That's what I have now. Lost 150 points in my credit score after the mortgage was cleared. We will see what happens when the revolving debt is cleared.
I use velocity banking. It’s changed my life. My wife and I decided to join finances a few months ago before we married. We did velocity banking and paid off the whole wedding in six months. Over 10k. Her student loans are next!
Get a line of credit of 5k at 9.99% and make a chunk payment on your debts. When you get your paycheck or any deposits put them right into the line of credit. When my bills come up or anything for cash I take it right out of the line or transfer to my checking account and use my bank card.
