10 Tips To Pay Off Debt FAST!
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- čas přidán 27. 08. 2024
- Hi guys! Today I am sharing 10 tips that will help and encourage you to pay down your debt quickly! Please give this video a thumbs up and subscribe before you leave!
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Very unconventional but I moved my furniture into storage and moved into my car for three years. As painful as that was, I paid off my car and all of my credit card debt, plus I saved $50,000 dollars. Discipline and sheer grit got me there. I was willing to make radical changes and sacrifices. Whatever you can do, do it and stick to the plan!
Damn, that’s hard core! Good for you though, I wish I had the courage to do such a thing, congrats!
If i didn't have children, I'd def do this
Congrats
Wow!
Congratulations. To help me pay off debt, I have picked up a massive amount of hours. I work anywhere between 80 and 100 hours a week. Eventually, I will be debt free. Kudos to you 👏
Learn how to tell people NO!! It took me 3 decades to finally start living this and it feels great!
That word is a great word. Once I did no my money grew well beyond. Broke people will keep you broke.
@@twilliams842 💯
Agree! Especially with family! They will suck you dry if you let them...
so true! this is so hard for me because i want to do everything and go everywhere but i can’t, it’s fucking be up bc i can be using that money to pay off debt
I agree with that for sure
My biggest weakness is spending money on family and food. Honestly they're not always necessities but obligations. I've been a hermit for months heck years and have learned the POWER of saying no. I have paid off alot of debt but still have more to go. Encouraged reading these comments from others!!
I’m tired of the cycle of debt, so I sold my Jeep to a dealership on Tuesday. I thought and prayed about it, and it was worth it for me. I currently live with my parents and work from home, so I don’t need a personal vehicle right now. Selling the Jeep allows me to pay off my credit cards by the end of the year while saving to pay cash for a reliable used vehicle. The only debt I’ll have is student loans, and I work to get rid of those asap.
I spent so many years thinking I was too smart to need a budget. But when I wrote out my first budget and looked at all my debt, I was disgusted. I was wasting so much money, and two years later, it's a huge change. I can definitely see the light at the end of the tunnel. And now, I treat Savings and Charity as bills, not afterthoughts.
Sold my vehicle this weekend. My bf and I will be using just one car. 20 year old me would have jumped at the opportunity to get another vehicle.. 26 year old me wants financial freedom. I realized that I have gone into debt to impress people I don't even like, those days are now behind me. The temporary sacrifices I have to make to achieve my financial goals have really excited me and I am more motivated than ever to keep pushing through and reach my goals!
I’m 26 years old and I relate to this! I’m exactly where you’re at right now. Except I just paid off my car and my boyfriend sold his so we’ll just use 1 car and he can save on payments. Since he’ll also be using my car, he’s helping out with half of the insurance which helps me. My car is also pretty good on gas and we try to gas up at Costco for the most part to save on gas. I used to always get my nails and toes done too which would cost be $150-$300/month depending on design, length and if I wanted gel (which of course I did). And my hair used to cost me $150 with tip every month to maintain the blonde. And I always ate out and spent money at the bars alll the time. After cutting back on my nails and only doing them for like my bday, I really have saved a lot. I also haven’t touched my hair in almost a year (so fricken proud of myself, it’s been hard). But since I’ve been cutting back on my nails, hair and my car is finally paid off-it has truly helped me focus on paying down my debt a lot faster so I could become financially free. Once my debt is paid off, I’d focus on investing my money into real estate and into stocks & crypto.
I agree. You will be surprised at how much money you can save just by packing your own lunch. Iam in the process of paying off a lot of major debts. I work eighty hours a week. I pack my own lunch. I do not purchase ANYTHING, unless it is a need. I also watch videos of other people that have paid off massive amounts of debt, which helps to keep me motivated. It can be done.
Budget and stick to it
Decrease expenses
Get a roommate
Eat at home
Increase income
Educate yourself, on financial management, financial freedom, etc.
Debt snowball
Emergency Fund
Thank you
Literally strip down your expenses to the bare bones and dont enjoy life until it’s paid off haha. Maybe little rewards throughout. I’m living with my parents right now to pay things off FAST.
Just started this too.
im getting into investing and doing side hustles to pay off this debt I only have $3000 in total debt but my Husband is um well over 80K with student loans so we have a while to go
update bro
I couldn’t agree more that making the budget is the easy part. Sticking to it is where the blood, sweat, and tears come in lol, at least in the beginning.
I completely agree! For more it got easier once I got in a routine.
Oh hey Diana, fancy seeing you here! lol/ edit for spelling
If it were just about money- it would be easy.
It’s the bad habits and mind set that needs to change. That’s the difficult part… I’m working on it. 😎
I am 25 k in debt because I was a victim of online scammers now I am on my way of paying off this debt. Thank you for your information
One of the biggest areas I found in saving money that now goes towards paying off my student loans was my phone bill. By myself with AT&T, I was paying $72 monthly and that’s WITH a military discount. With the cost of everything rising, I had a long talk with my family and surprisingly they were on the same page with cutting costs too. One day I randomly came across a T-mobile ad for their military magenta plan. I went from paying $72 for one line to pay $100 for four lines (each family member is responsible for paying me their $25) with WAY more perks than what AT&T was offering. Also, if you/your child is a college student, their student email address can be used to receive student discounts for streaming services (for example, i pay $1.99 for Hulu and 6 months free Amazon prime)
By cooking at home I’ve saved soooo much money
Tip #7 is soo important.. budgeting your spending money and save for fun soo you’re not dipping into your emergency fund
Expanding on budgeting and having spending money ..
create seperate savings accounts for each bill/things you want
Rent, Phone Bill, Car Insurance, Vacation, ETC..
each paycheck allocate an x amount to each I had an old co worker who taught me this . He did it for everything , even Christmas presents. He would put in like 10$ a paycheck and at the end of the year he would have like 1000$ for Christmas presents so he wouldn’t stress around the holidays ..
I personally didn’t have anything till two months ago, i had to find my own way and now i can say I am proud of myself , got my credt fixed and everything planned out
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ALWAYS _DEEPDARKWEBCRACKER411@GMAILCOM_ This right here is the only possible way I know to get your credt fixd in 20 days
I adopted pay yourself first lately. 10% of every paycheck goes into savings. With a 1300 house payment and 6000 in savings I have a long way to go with an emergency fund.
Thanks Leah, I really needed this. $24k in student debt and am paying for my wedding this July, but this journey begins today!
Congratulations! I hope all is well and that all is going as planned. If not, thats also part of the johrney. I'm curious, how much have you have paid off since you wrote this comment. Much love
@@misterjuro none. They have debt and decided it was a good idea to get married😂
@@TrackStar42 yikes
@@misterjuro tell me ab it
First of all, that shiny wash and go is🔥. Great financial tips.
thank you!!
Have a budget, know how much I owe. Paid off 2 credit cards, working on the last. School loan 100 a month until Feb when the real payments start. Owe 2 grand on bedroom set and 183000 on house. 30000 on school loan. Pay an extra 75 a month on the house and try to remember to pay extra on the credit card. Stick with it.
This is so true. It took me a while to truly understand there is no way around not managing money. Luckily I’m not deep in a hole but heck yeah it hurt seeing those numbers. Pray for me and my budget. I felt this entire video. I’m changing to picking up groceries to stop me from splurging in store
I have 2k debt in total for 6 month i use that money for pay my study and now i don't have enough money to pay my debt, i'm very scared with debt collector but i always think that, they are also human and if i still have plan to pay it no need to be scared. What will i got if i didn't pay my debt is the money authority will blacklist my name, so i have to pay everything in cash! Well that's good i'll saving my money than borrow again
We found what worked best for us is starting with the oldest debt to ensure it didn’t go to collections and end up on our credit report.
I use to follow you on instagram I’m no longer on it, you popped up out of nowhere! Wow what a sign, I paid off my debt during pandemic so don’t know why this came up but I’m glad to see you again it’s been 5 years Just subscribed
Gods Word is right, the borrower is a slave to the lender. These tips are right on target!
Sis, this was sooo good and unbelievably timely. God bless, dear
aww yay!! I'm glad you enjoyed it
I currently have $37,000 in debt. My goal is within a year to pay all of it off especially my biggest debt which is my car. These are great tips that ive started using.
Sell the car and pay cash for one you can afford. You'll be much happier and much better off.
@@paultipleaNot if you don't know how to work on them.
Leah, you always have great and real advise! I was inspired by your Instagram post and listening to Dave Ramsey's podcast on youtube. My goal is to pay off my debts in 11 months! Thank you for this awesome video so informative. Will read the books you suggested in the info box. Congrats to you on completed your debt free goal!!!!
aww thank you!! Wishing you much success on your journey
LeahsEssence thank you!
Thank you for the encouragement! Facing debt is daunting, but this video inspired me to start and I know my future self will thank me for it.
I love your hair!🤗....thanks for the tips!
I prayed then this video popped up! God is good! #spiritled
My problem is the little things that I spend money on is just the little things I buy and I feel are necessary to buy like buying cleaning supplies, pet food and supplies and just crap that I spend money on going to the grocery store. Before I know it, I'm $500 in the hole every month. I don't get my hair done or my nails done, I quit buying clothes for myself and just using what I already have. I make enough money and it looks great on paper and I never eat at restaurants, but it's the nickle and dime things that are killing my budget.
Buy in bulk ! That helped me save more money long term.
A pet is a luxury when you need to save. Pack a bag of snacks, juice, water, panadol, antacid, tissue, wipes etc and keep it in your car. Only go window shopping when you are broke and carry limited cash when shopping.
I’ve cancelled all subscriptions, reduced my food shopping bill as much as I can, got my regular bills down as much as I can, but I think it’s still gonna take me a while to get stuff paid off.
Thank you for this definitely learned something! I’m praying I’ll be out of debt this year COVID really threw me and my wife off 😭
You can go to a beauty school for certain things for super cheat for things like a trim or manicure its like $10 if its in your budget.
Thanks so much for this I’m so grateful for your content and ready to lace up my boots and get out of debt
Great information. Unfortunately I am 45 in a situation where I have too much debt. Aside from student loans, my almost 8500 in credit card debt (maxed out small cards) are killing me right now. I am paying off the smallest ones first. Knocked one out, onto the next. Debt snowball.
I hope you check ✅ the concept of velocity banking. Christy Vann on her Vanntastic shows the math. The idea is all the rage right now. Other people also explain it on CZcams, but Christy is the only one who shows the numbers. It's fabulous. Love, Peace and Hair grease! 😍--April
My biggest payments are my car loan, student loan and credit card debts. I’m determined to pay off everything by end of this year. I already made $2500 towards my loan this month. I cook at home, do my nails at home, colour my hair at home.
Congratulations on paying your debt off! Also, I would like to add, according to those who specialize in credit, when medical bills go to collections you don’t have to pay them. The reason is, it goes against the HIPPA laws.
But does it stay on your credit?
@@daredirect4034 no. Back in 2012 I was very sick racked up 15k in medical bills. I wrote a letter (hard ship letter to the billing department.) some I hade to pay a small fee the others they just let it go. Never hit my credit report.
Omg I had no idea that if you set up auto debit, it decreases interest by a quarter of a percent. Thank you!!!
FIRST... great subject advise...Thank you Leah!!!
Wow this was a great video, very encouraging, its given me new purpose in my debt free journey.
😍🤩 Very practical and straight to the point. Really like it and believe this was exactly what I needed to hear and to learn!!!
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Just read someone who has multiple cc debt and his plan is pay off small cc first. My tip to him is pay off the biggest first......got this advice from a good book Debt Free. Hope he sees this message.
my student loan debt is high plus I'm in credit card debt. I will be working a part time Job on the weekends. Just so that I can pay off my debt yep. Plus save up a bit more. Because I really want to get into Nursing school yep. I want my own apartment also the way rent is going up and people's income isn't. Yeah I may see if I can relocate where the cost of living is less.
The secret to financial stability is having the right investment suggestions to enable you earn more portfolio in the market.
Wow! That is amazing! Keep it up sis🙌🏾🙌🏾🙌🏾
I am frugal, I dont go out but I have allot of bills that I dont have any spare, budgeting hasn't helped at all only increasing my income
continuously helped me like you have. I thank God for your presence in my life. Thanks a lot!!!
What happens if you don’t have enough money to make a budget?
One thing that I recently started is food shopping three times a month instead of four...every 10 days. Last month I saved $200
Transfer Tuesdays‼️I do Door Dash as a side hustle and transfer that money to another bank account on Tuesday only.
Wow what a lovely video. Especially the ending.
❤this was awesome 💪🏽 thank you!!
I had a bunch of credit cards with small balances. I got a line of credit with a lower interest rate so I put all the card balances on the LOC. And that was my *oh shit* moment when I realized the magnitude of my debt in a lump.
Yeah. After cutting debt then you can live because you don’t have to pay debts. But you just got to keep your expenses low and income high. Too easy to think that getting that 500k house is an investment but it is only leaving you $500 a month. Not a lot to save a month
Wow. So true. So helpful. My daughter and son really need to see your video......I'm a true believer of a budget. Cc debt is so foolish. But it has become an addiction. Common sense is a bit lacking these days. All you have said should be taught in schools before kids get trapped by cc companies. Unfortunately, there are no Govn regulations or rules so now we have banks, not asking people to join them and save, but trap them in debt as it's profitable for them. If you hold just ONE cc, the principle is if you spend 50 dollars, as payday comes, you return 60 back to cc. In other words, work the cc system that they don't make any money from you.
AMAZING tips Leah! Thank you so much for all your tips.
Man where I live food is so expensive at least $400 monthly for a family. We reduced from $900. I work full time and a part time. My husband works full time
I’m 22 about to be 23, lucky for me I got a great job young as a wildland firefighter, made lots of money and was able to buy myself and my mom a car but then I hurt my shoulder no longer able to do the fire job for a while, I went to school got my emt and became a emt and started getting cash flowing again. I re injured my shoulder and I’m like 33k in debt and trying to pay it off and I really need to figure out how. Got my first kid on the way and I need to feel financially secure to feel mentally secure….
I'm at 12 k now, with 10k just about in the bank, I was gonna keep paying 3 k till it's paid off by April and save for a down payment on a house or condo for August but I was tempted to just save 3 k more and then just pay it all off by February and then save till August for the house/condo what do you think ? And congrats I hope life is still treating you well !
All very helpful and practical tips. Thank you 🙏
Thank you for sharing!! Very valuable tips!!
Thank you for changing my life
I can't wait to be out I neverrrr wanna get in to debt again
Great tips Leah! Dave Ramsey is tough but if you follow his steps, the plan will work. I also like to listen to Clark Howard he is a more gentle version. lol I am working on ideas for that second stream of income. Congrats on making strides to becoming debt free which is my goal as well.
I agree his podcast is rough so I don't listen to it often, the book was a better fit for me! Keep pushing girlie and you will reach it! xoxo
Living with family don't work.
Get your own place,or live in a selter,if you don't have children.
Very helpful tips.. thanks for sharing this video😃
Yes Leah...i love this series. Thank you for your insight and wisdom. God bless u
I am glad you are enjoying it- thank you for the support!
I have to pay off my Discover credit card debt $1,700
Great tips! Thank you for this video.
Very powerful!
God bless.
Greg from the UK
Great video, very informative thank you.
Thank you for encouraging me. really helpful ❤ advices
The Message!!! All of this!!
Good going girl !!!!!
This was so great . 👌🏾💜🙏🏾
Congratulations! Discipline. Keep pushing 💪🙏
Great Video! In my opinion any debt is bad debt that will not end up begging an asset in the long term!
Great tips!
Hi Leah what is the process to get sponsorships? I have a large amount of student loan debt that I’m ready to get rid of! thanks so much for this video!
10/10 content ✔️
Excellent video, thank you!
Great tips! Thank you
Take a pack lunch to work. Sell stuff you go not need. Review all Bill's and subscriptions. Always pay yourself first, so 'pay day' becomes 'saving day'. Never buy a New Car, get a well maintained second hand one, if looked after it will last years. This is what I do and it works. G ( England ).
I owe 10,000 😲 omg I didn't know I do need help so I'm watching it now I hope this helps me! 🤔
Loved it, thank you
I am struggling with debt, I owe 50k in debt. Its really hard and I need guidance. I need help and anything will help right now.
A full three minutes of chit chat😜
Cutting out the nails for debt 😅😮 omg I don’t think I can do that lol
I’m working on paying off my social security
This video was very informative.
Loved this video & you 😍😍
Most of these things I already do.
Very awesome video. Very well said
Congratulations Queen 👑
Im on a paying off debt mission!!
thank you!!!! so excited to pay off my debt xD :'''D
Greetings from Croatia! Does anyone have idea how to get out of 40 k $ debt, with average sallary of 800 $. The price of 1kg bread is arround 2 dollars. 1 litar of diesel petrol is 2 $.....and on, and on...... :-( TY and Regards!