What Would Happen If Everyone Was Debt Free???? 

Kimberly Lewis Good job. Feels good don’t it?

Yes it does!!! Thanks!

Whoop! Congratulations, YOU DID IT! Well done, I did this in August 2016 after 12 years of debt

Congratulation!

Conservative Prosecutor Saving up that much is a losing proposition, no one ever got rich putting their money in a bank. If inflation is 3% and you're getting .0003 on your money you are getting poorer every year

That's an accomplishment I've been wanting to see. Little over half your income.

Tips please!!???

Holy smokes, congratulations! Keep it up. In two years, you have FITTY CA$H!

Kris Carman Wow! I love hearing these testimonials!!!

Wow, you're REALLY weird!! Way to go!

TheSimpleBachelor that is why you invest in things that profit from debt. People are going to be dumb, they may as well be of use to smart people

Yikes

You can buy fancy things without debt.

Sam Ovens and Alex Becker sold all their toys and Becker even sold his multi million dollar house to live a minimalist lifestyle while he focuses all his mental energy and time on growing his business by developing teams, the same for Sam Ovens.

@Thomas Borisov Obviously you have NOT listened to his videos. He would agree that those with get rich mindset will never make it as a long term entrepreneur, through good and bad times.

I was the same way. Yeah, I can't get a job right now, but I'm debt free

How much college debt?

@@sisenor4091 I don't have debt. Look up. I drained up family saving though, so now I owe that much money (almost 38k) to my family.

Ujjwal Anand $38 thousand is not too bad. I seen worse. $38 thousand with NO degree is a different story. Good luck young man.

@@sisenor4091 my degree is no better than no degree. Probably less valuable than toilet paper.

Elite Clinical Research I know right. I grew up with my folks buying furniture outright so this concept is so bizarre

Erin Sandwell and it’s not like furniture is a car . It shouldn’t be a big purchase where you need a loan

Elite Clinical Research people want fancy furniture. They are not content with a normal couch, they need (want) leather recliners.

An H or Facebook marketplace u can stuff for a couple hundred bucks. Good quality stuff. Maybe if u can’t afford to furnish the home u can’t afford the home

Yep, like sitting on stupid!

Dave Ramsey is not a Minimalist. He pays cash for his cars, homes and other toys.

@@MsMaxinejoy Dave Ramsey also says "live like no one else; so later you can live and give like no one else".....he has and is still reaching for his goals. It's suffice to say that he can live and give like no one else.

It's funny, but I (and all of my friends who have done this) have found that when we have cash in our pockets we tend to buy LESS! GEE!

That may be true, but many jobs come from markets based on expediency. Soooo many people would lose their jobs if everyone chose not to live in excess. I'm not saying it's bad, I think it would just like being in pre-industrial society. E. Michael Jones has a book called barren metal that's pretty good.

@@bradspitt3896 Interesting point.

Well done 🤘🏻🏡

Ali Evans Thank you!😊

@@Geraldine295 you've done well! I'm a single mum in the UK and am working my way towards finishing my mortgage. Can't wait to be saying what you did ❤ go you x

Ali Evans Well done! 😊 The closer it gets, the better it feels!

@@Geraldine295 good luck in the future... all the best to you 💲💰💵👌🏻👏🏻👏🏻

Your free now! What’s your net worth now?

derek yasmar. Debt = Money. If Everyone Was Debt Free there would be no money (left)....

They wouldn’t have to print more money for the banks to loan

Unfortunately you are still slaves to the government because of taxes!

MrElculver2424 no because everyone has to pays taxes ...

lol

I'm thinking prices would go up due to inflation. Increasing the minimum wage puts more money into the hands of people, which drives up demand and drives up prices. If people were fiscally responsible the same thing would happen.

Krassimir Petrov And it survives on the majority of people being in poverty.

the Rothschilds would start another war to prevent it from happening.

It kind of has been for at least 5500 years.

Isn't that what it is?

Same thing what happen in 2008 house value went down on homes and investors panicked so they raised mortgage rates and people realized they couldent pay those high rates and interest. Same thing with credit cards but there still standing. 🤔🤔🤔🤔

i doubt that

Sure would be less depression. And people would sleep better.

@@McWriskyea but nobody would get what they want for in order to get anything u have to get into debt for it.

@@brandonortiz4224 huh?

Except for the banks lol

But...that means you would have to work. WHen you're entitled...its not gonna happen and thats what the govt wants.

It has no meaning today! Never even seen mine. Never had a credit card, I don't owe anybody anything. I did marry some substantial student loans, but the woman's a good one, I think I'll keep her lol

Ya if you don’t have debt a credit score don’t matter

Don't be deceived nor afraid of this virus. A virus of bizzare and unknown origins with symptoms no different than the flu.

I’ve seen real bad. Know someone who cashed out their 401k but before the money cleared in account they overdrafted to pay for a tattoo 🤦🏼‍♀️

Yep that's comfortable! Stay in your " comfort zone".eh

Jesus is Lord!

Let the TraP say AmeN

I used to didn’t believe in God but if someone made you then someone must have made what humans can’t make such as the sun, the rain, the seasons, outer space, galaxies, other planets, this planet. You didn’t get here by yourself. You know? NOW the government rewrites Gods story to control us!! Which is why we have to find the right truth

Addison Tharpe so true

@@tharpeaddy But who made God..... There's no real answer

House is 70k?

Did you?

I refinanced my house to have money on the side to buy another house i work for a credit union so i also get a one percent discount so im just waiting for market to crash to buy another house my current payment is 300now with the refi hahaha

@@davidrabbit8868 no i had got it for 240k in 2015

josemel33 fantastic! How did you do it?

How did you do it?

Also I've been doing this for 6 year and I've saved 115k. All invested! 33 year old construction worker.

@heynowhey Fully funded Roth IRA, 70k went to paying off my house. And 30k went to remodeling it. Seeing as you can only invest 500 per month into the Roth I downloaded robinhood and made a watchlist of index funds. These funds are low risk and pay dividends. Since I'm topped out in my career I will now be focusing on increasing my income through dividend investing.

Dave are wrong..debt drive economy faster..

Amen 🙌🏼

Go back to using money to buy things.

@@charliekiger What is money then? Gold? If not, it's just someone's debt to you.

@@ThePeterDislikeShow These people don't understand that all of our current money is actually debt that someone else took out. They think that we could live in a world where everyone has a ton of money and is debt free. Even though that is mathematically impossible since all money that is created comes with interest payment which means there is more debt than money.

Sketching Hands Avoiding investing sure isn't a safe idea.

weareanonmyous wecannotbestopped I think the appropriate thing to ask is what investments are you looking at? I'm making 8-9% a year

I would not avoid investing at all, my friend. Dave doesn't say that, he recommends slow growth mutual funds all the time for people of average income to accumulate wealth. Absolutely agree with you on debt, credit cards are the plague lol!

@@zachsimpson2008 Depends on what or whom you are investing in. Money buys time and ability to meet new people to learn from them as in a give and take mentoring. Just a sliver of an example.

He never said don't invest

if you think this works then socialism should work too since noone will be spending enough money.

Did someone say Bitcoin?

I just believe in spending money that actually exists.

Jose Garcia So you only make transactions with bullion?

Income inequality is somewhat of a red herring. What matters is upward mobility

Blackjack Assassin it is absolutely possible for people to stop borrowing money and pay their debts

2inchfromtheground Has absolutely nothing to do with what I wrote. Not sure who you meant to reply to.

Blackjack Assassin I replied to who I intended. Maybe you don't understand my reply, but it is in relation to what you said

2inchfromtheground You thought I meant personal debt. I meant the national debt in general. I agree anyone can pay off personal debt. I have no debt myself. Sorry for the confusion.

Blame Alexander Hamilton for founding a privatized national bank. He intended on keeping the government in perpetual debt as to have reason to continue tax on the populous.

@Red Man - GOOD FOR YOU!

tomlxyz You would still be able to go to a restaurant because of a controlled budget, without the need of credit card use.

Probably not much, people in poverty are there for a reason and participation would probably be low by the end. People need to be ready for and seek change for this to work, use their own goals.

Throwing money at a problem? Dave says "that's what money is for." Also, almost any program that remotely teaches a growth mindset gets an A+ in my book. I don't care if they have to take FPU 12 times or read 1000 nonfiction books. There is still hope. The trick to winning is not giving up.

You can give someone a gift, but you can't make them choose to receive it. They need to have the motivation to actually go through Dave's course in order to be changed.

@Skweepa - I LOVE this idea! The only thing I would do differently is to require people to commit to doing it, like Dave Ramsey does when he gives the course away to callers.

@@randomvideosn0where And this would give them the opportunity. You cannot know for certain what anyone would do if given the opportunity. I personally would like to give someone a chance to try than the decide for them that they can't do something.

More like explanation(s).

👍🏿

@Mary Fields - LOVE IT!

they do pay $41 an hour now just saying

@Matt McLoughlin - That's tragic!

canned goods only keep for a year or so. I found canned "stuff" in my grandmother's attic from the early 80s when we cleaned out her house a couple years ago. we had canned green beans in our basement from the same time period. people didn't can because it was cheaper than buying from the store, they did it because their mother did it. she did it because her mother did it. her mother did it because her mother did it. and her mother did it because back then, they could only get fruits/vegetables when they were in season. they couldn't go to the store and get something canned or frozen.

😂

Probably because they were misled and not properly advised. You are told to go to college and university. But it is not even necessary. A lot of the jobs anyone can apply for, require no more than a high school diploma or level of education. And with regular work or employment, you would get or receive job training and would be making money which you can then use for your own satisfaction, without paying anything back. And the way I perceive university. It is a hidden pyramid scheme. So someone with a degree is more valuable than someone with years of experience ?

Unfortunately, most people are unable to calculate interest rate to see that product is much more expensive, than buying later with saving. One answer could be instant gratification for interest rate blindness.

Sophia: Mostly inflation is caused by government mismanagement of collected taxes, and interfere in private sector. Increasing taxes, or introducing new regulations and new taxes. Good example: because of vast regulations in CA, the properties are skyrocket expensive. And who suffer the most: well everyone, even the wealth.

Sophia: One more thing, thanks to "Keynesian" economy, our life become every year more and more expensive. The famous con-economist John Maynard Keynes caused many states for have massive debt. You can't use the government and debt to stimulate private sectors. It just creates bubble when the debt reached the roof, and then explode, and then again.The businesses which are not sustainable, should be not subsidies, it just delays it the failure. The state universities worship this man. This is what happen in 2008, when many peoples in USA lost their homes, but nobody talks that Clinton administration forced banks to gives cheap loans for riskier groups, and the government guaranteed about that. The rest is history. He introduced GDP, and that is useful only for politicians. When someone tells me GDP is growing, I ask: "really, then why the debt grows much faster than GDP". Dave Ramsey confirms what great minds spoke: the government is bad manager of economy. Please make some research.

The irony is one of the reason for inflation is massive use of debt :)

Sophia: I disagree with you. First, no one deserve anything, everyone should earn their own success. Second, I don't focus on any party as this is worldwide phenomenon. Third, today's situation is result of human desire of instant gratification and greed - end result a lot of people in debt and "Keynesian" economy. Since "Keynes", America became hostage from huge military machine and became country with double standards. Our economy slowly going from capitalistic to socialistic, which scares me. People became lazy and entitled, and they think they deserve to receive help from the government without earning any cent for that I am against big governments, and interfering the government in private sector (local economy). My paid taxes should be used only for maintaining infrastructures and keeping justice, peace and order. We both should agree institutions like army, police...must be paid. Anything above that, like welfare programs, or military actions burst hard working person. The history shown many cases where people grown in misery, became successfully, by creating businesses from own garages. Many of rich people are first generation who served to the world with their products/services. There are more millionaires now, than ever. The living standard in China, and other countries increased much faster, while Western societies, fall with socialistic Utopia. So your thesis that our economy is built to concentrate to a few is wrong, like I said, it slowly turns to socialism. Here in Europe is even worse than USA with those so called grants and funds, and social policies. Over 60000 businesses leaved from EU last 10 years, thanks to those smart guys from Brussels. And every year there are less startups. That is not because of cheap labour, but because of too heavy taxes and heavy regulations. I have a few friends with small businesses, most of them are forced to move.

I understand rental property POV but not stockmarket margining.

LOL good movie..

Enough I get the point. :)

this along with mandatory civics and un varnished gory history.