I'm Afraid To Use My Savings To Get Out Of Debt!
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- เผยแพร่เมื่อ 30 ก.ค. 2022
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Dave: "I'm very proud of you"
Everybody Listen: Yeah so are we buddy. GREAT JOB!!
100 percent.
👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽
“You got me excited” put a huge smile on my face! You got this bro!
I'm so happy for him. Congrats on sobriety
Debt grows in interest more than savings.
Sure you can pay off the debt a bit sooner but you also lose out on the future value of that money. Depends what your long term goals are anyway.
@@flch95 what value of money? You lose value of money everyday due to inflation. $1000 a month ago doesnt buy the same things now.
@@ykciR the value of money doesnt fall that quick … what you can buy a month ago for $1000 you can still buy today
@@nyzflyyguy gas, groceries, diners, shipping cost more. I can go on lol
@@ykciR thought I heard in the news that gas went down
🎆Shout out to Chase🎆 kicking the addiction AND getting serious and creative in paying down his debts! 😁
Saving is not so easy especially when you always have needs for money, best to multiply your incomes via investments. I believe the need for creating multiple sources of incomes cannot be overstated
Fact, even if you were so unlucky(and unskilled) to invest at the top of stock cycles, you would still be better off than someone who just held onto savings in the long run….
Hi Wendy. I’m a deadset beginner hoping to invest and believe me when I say I’ve tried time and times but trading stocks is just overwhelming, so what then do you call a working strategy or have you got pointers that could help in profitable investments?
In a rather much complex sector as that of stocks, understanding sooner that absolutely nothing can be compared to experience and expertise the better
I started investing in stocks and ETFs since November for trials before deciding to take it up a notch wasn’t profitable enough. This far I’m now able to 4x my capital in less than 9months, scaling from $150k - $600k+, and I did get a pro advisor for supervision and accountability as recommended by a financial TH-camr
@@wendylistings3234 That’s a reasonable sum you’ve made! I’d also like to get on this, can you by chance name your IA? How do I reach him?
The baby steps to getting to the baby steps was a great approach here. I do think the emotional Triumph of paying off those couple of debts and realizing there was no negative to that will carry him forward.
Lost my little brother to an OD and this call just put a huge smile on my face. Love hearing stories of people overcoming addictions and being open about it. That’s awesome! Doing this debt free journey will only bring even more freedom & peace to your life. Look forward to seeing the debt free scream!
Great job Chase! Really proud of you for taking control of your life again.
I was terrified to use my savings for debt so I didn't. It took me longer but I'm out now and still have my savings.
Congratulations
Good job tonya. Sometimes a piece of mind is better than logic and math
That’s my battle, I’d rather have something more in my savings account than to depend on $1,000.
@@JustINformUdefine better?
@@soonermagic24 meaning you still have cash to feed your kids and keep lights on despite having debt.
So happy for him. Nothing feels better in life than beating a bad addiction.
"I want you to get the high...oh, that's a bad choice of words." 😂 What a wonderful young man. One of my favourite callers. I truly hope he continues to do well.
Congratulations on staying sober. Best wishes to the Chase.
I'm glad u broke the addiction not easy to beat it. I'm glad u change ur life around. I think he dealing with fear rightfully so we all face it rather we admit it or not. I'm glad he called Dave Ramsey show and they help him.
This is only Dave Ramsey Show i've teared up on. So proud of this young man! 🙏
“A bad choice of words” hahaha 🤣
😂😂😂
Love his empathy
I really appreciate the supportive and gentle approach the team took with this one
Good for him! We're all rooting for you!
See, here’s a call with an actually helpful outcome. The two small problems can be made to go away with only a fraction of his cash. The car can be reconfigured due to his circumstances to make things easier overall at a very low cash cost. Now he has good cash savings left and is left with just the student debt, which is a long term issue that deserves a long term plan, not a panic move,
You are so smart. Why aren't you a DR.
@@clarifyingquestions m no v y CEW r use saw wsss e see X gr cg cat guy b h by Dr. t Dr. Tf g h iin
Clearing That Debt Sets You Free!!!
What a fantastic story, Chase! I am proud of you overcoming that addiction and now you called in to change your financial freedom!!
Breaking one of the hardest addictions and working one of the toughest jobs, props to this guy!
Congratulations chase. In getting clean you did something significantly more difficult than becoming debt free. Awesome story.
We are all rooting for Chase. Very likeable and he’s done something amazing already.
Good for you, Chase!! 😊 🙏 🤗
Great advice, Dave!
We are living in unusual times. What happens if his rent goes up a lot? Mine went up $300 a month. His income is not regular. This is not a steady income. He is afraid because he knows this. Dave did not take into account that this is not a salary income. Dave doesn’t feel it in his gut anymore. I’m self employed, and I would worry about this guy if he follows Dave’s advice. Emergency funds are very important now. Inflation is not going away soon.
I think even if the income isn't regular... having no debt is still an even better position if that income lowers later? Just my thoughts
Wow - what a great guy. Would love to hear a follow up with him in a year - or for him to give advice to others.
He's never this nice to people from California, he must be in a good mood
Don't go less than 5-10k in your savings. Not during these times. Special needs families and anyone during recessions needs more than 1k.
I completely agree! We're keeping $5000 in our emergency fund at all times while we pay off our last debt which is 80k student loan. It's our only debt. We're going hard at it but keeping 5k in savings to be safe
Best call ever! I hope we do hear his debt free scream and later his story of becoming a millionaire.
Congratulations on doing so well, it takes huge amounts of strength to do what he has done and is doing now. This guy is going to be a success story and will be able to help others in the future! He has kicked a habit that sadly not many people do. His fear and doubts will disappear when he pays off that first debt and will turn into determination and self empowerment and he will never look back! God bless this guy!
Pappa Dave, I love you, THANK YOU for your experience, integrity, and kindness‼🙌💜
“You got me excited!” Love it❤️ what a feeling to have
Not true. Even if you are in $84k in debt, there is security in carrying $15k to keep the wolf at the door away. It helps immediate while the rest of the debt is on hold.
I agree. When I was getting out of debt, if I had spent all my savings down to $1000 to pay off debt I would have been unable to fix my car when a repair came up. Having only $1000 requires you to be very lucky for a long time. And he came up with that $1000 baby step about 30 years ago, refusing to adjust it for inflation.
@@megalodon1726 Yes, with current inflation rates, assuming he came up with it when he started FPU; it would be around $2500 now.
Honestly, if having a larger cushion makes him feel safe, it’s not a bad use of savings. Same reason I have like a year’s supply of rice in my kitchen and garage and basement.
The safety is an illusion though when he got debts with interest on them. It's purely based on feelings. The extra rice you have is not an illusion. It's real safety.
I would bet if you were losing at least 10% of that rice into thin air every year you would be thinking differently about that rice.
@@michaelb.8953 say hello to the lettuce I never eat but always buy. Lol.
Seriously though, the psychology there beats fiscal reality. A feeling of security is worth 10% a year to some.
@@Luffa187 human beings are complicated. It is what it is.
Agreed.
Chase, we too are struggling with the "terror of being broke". Although our tribulations are very different, you spoke for hubby and I with this call. WE DON'T WANT TO GO BACK TO BEING BROKE. Thank you so much for this call, and Bless you.
this is the best one i have ever heard so far , the power of man being a man , and the smartest advice
Way to go Chase! You've done so amazing already, keep going!
Aw I love it when he said you got me excited. This man is changing his life!
Amazing advice, Dave.
Proud of the caller! 👍
Praying for you Chase🙏🏾You got this💪🏾
Excellent!!! So proud of him. God bless him.
Proud of you BUDDY! NEVER LOOK BACK!
Brother, you are Great, keep this up, don't go back. Blessings for kicking the habit !!!
good luck Chase!! you got this. Can't wait to see your debt scream!! What a story you will tell
God bless you Chase. I pray you stay on this path brother!
Good advise and encouragement, nice thing to do.
I have a financial famine mindset too. No vices though. I grew up poor and I'm never going back.
I'm very proud of you for beating the odds Chase!! May God bless you always with strength, courage, even more resilience and a healthier, happier life and inner peace because YOU are WORTHY of this life!!🥰🙏🏼🙏🏼
This is a great call!
So proud of Chase changing the man in the mirror
I am thankful for him. But also congratulations on everyone who has never been addicted to anything and making good decisions on a daily basis
Making 90k yearly it should be easy puzzle to pay off his debt. His biggest enemy is the drugs and hopefully he stay clean and never look back.
I’d be more afraid of living in LA. He’s probably paying like $2k a month in rent.
I used a settlement I received to pay off debts that I had. Best decision I ever made!
Congrats Chase, you have no idea how many people you have inspired!
Yes it’s scary to use the savings to pay our debts but it’s because we are so use to having debts that now it’s our norm but that doesn’t have to be our forever reality. Las week I paid half of all my debts and my heart was happy and it felt free… following a budget and changing my mindset towards money and what’s really important has really change my mind! And of course listening to the show every morning 🙏🏽 don’t give up
Bien por tí… felicitaciones. Keep up the gpod work.
Congratulations! What a great feeling!!
Very encouraging call
GOOD FOR YOU CHASE! You got this!
Congrats bro 🎈🍾🎊
I love the short term plan, you guys rock. thank you.
Another likable caller. Good luck to that man.
So proud! You got this 🙌🏽🙌🏽🙌🏽🙌🏽
I like how Dave stuck with what his plan is, but also recognized this man’s real fears.
And this guy’s gonna make it. He’s got the plan, he’s doing well! I hope he’s living debt free now.
Anyone who doubts Dave's character should just listen to clips like this.
So happy for him for kicking his addiction...
Wow that was an awesome call
This is why i love Dave!!! Bet of luck mate
I love Dave’s modified advice.
Great Job!
Way to go!!
“I want you to get the ‘high’…” *inserts foot in mouth* 🥴😅
I feel like having an emergency savings as a single mother is important. I also have that fear to use that to pay debt.
This is such great advice! Dave Ramsey's philosophy is so inspirational and so true (because it has its basis in the Bible!!) I exactly feel so empowered by doing the baby steps!! 🎉🎉😊
Hey Chase, I hope you are wekk on the way to being debt free. Best wishes from a rather grey, cold and mizogs England. Oh, ps, I'm looking forward to some bright AZ weather soon.....cannot wait to get back to beautiful America.
Genuinely happy for this guy
This guy is fierce !! 🎉 good for him
God Bless that man way to go !
Your sobriety is the most freedom you will ever experience. It is also the most difficult problem life will throw at you. If you can conquer your addictions and fight them off every day, getting out of debt will be a drop in the bucket. Take a deep breath, realize that God didn’t bring you through the brink of death in your addiction…. Just to lose you to debt. You got this!
This guy is AWESOME! Go Chase!!
Inspirational
So proud of this guy 😎
Great call 📞
I’m part of the fire movement I don’t fallow the Dave Ramsey plan . Having said that Dave gives excellent advice… keep giving great advice … thanks
What a great phone call
Go Chase go!! Proud of you!!
This guy has got this!
Wow!! What a comeback!
So proud of him
It puts more in my pocket to keep my student loan and put more money toward investments due to this interest freeze, the small size of the loan, my monthly budget, and the possibility of it being cancelled.
I can spare 20% in interest before paying it off it in full so that just makes sense to me🤷♂️ most ppl would’ve recommended that I wait until after college to invest as well but that was one of the most beneficial decisions that I’ve made.
Man I'm wishing chase success.
Get Chase back on the home when he’s out of debt. What an inspiration!!!! ❤
Chase you're a champ!
I love you Chase, you are an inspiration; I will pray that you stay righteous! 👍
Fooking legend 👑
Chase loves that Heisenberg
The irony in Dave using the word high 😅😂
Wow chase! Very impressive!
every time I want to make a stupid financial decision I just listen to Dave a little bit and realize I'm broke and should rather wait
Loving Chase, right now!
Ramsey channeling his inner Deloney