How To Start Paying Off Debt?
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- เผยแพร่เมื่อ 19 ส.ค. 2018
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How do you start paying off debt? Do you pay off the one with the most interest? Do you save up your money? It's not a simple answer. Watch this video to discover Dan Lok's way for paying off debt.
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#Debt #HowTo #StartPaying #Debtfree #PoorPeople #RichPeople
This video is about How To Start Paying Off Debt?
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"Focus on increasing your income, not lowering your debt" So true. Thanks Dan
6months
Is it possible to work without debt
I have been debt-free for 5 years! It's still amazing to see how many people are buying "things" that are "costing them money" instead of "paying them money"!
"in life you don't get what you want..you get what you deserve. " This absolutely true. Thanks Dan!
"Paying off that 1st debt that burdens you the most emotionally" Very good Dan.
"Small success lead to bigger success" This one resonates most for me. The department I work for require annual declaration that we are debt-free.
What a good lesson! Thank you Dan Lok for everything. I learn from your lecture that clarity is power, vagueness is weakness.
SIFU, I am blown away at how relevant your teachings are to my life...whew! I feel like I'm tight there and listening to you in person. Only God can do this! You are a blessing.
The minute you said, “you know which debt I am talking about” when covering which debt to pay off first was like an answer to my prayer. I had been asking myself which debt to pay off first.
I’ve been following your channel for motivation and to inspiring me to change my life for the better. I’m 14 and I am learning so much things here that even school doesn’t teach. Now I learned that Debt as Leverage can help you be it good or bad. I need to increase my cash flow and my skill set. In order to help me generate more income.
Thank you Dan for teaching us and bringing value towards your community :3 Looking forward to the next videos you upload x
Wow awesome! I wish I started that young.
Keep up the awesome work and I'm sure you can conquer everything you set your mind to. 👍
This guy is gonna go down as a legend man 💪🏼 keep it up 💯
I was waiting for this kind of video from you, Dan, since I begin to follow you! Tanks a lot Dan!
Thank you Dan Lok! The first time I watched your video was about a month ago and it has changed my life! I been paying off my debt, same time I save $250 every week! The end of next month I will be debt-free! Then change the ratio from $250 to $500 a week! And continuing watching your videos!!
I have so much love and respect for you Dan. So, so grateful I came across your channel out of the blue, I get SO much value out of your videos and knowledge you share. Thank you so much!!! Love and blessings to you xx
Thank you, Suman.
I've absorbed what you have just taught and I'm well ready to implement. Thank you for such powerful knowledge you have share with us.
Hi Dan! I just finish reading your book F.U. MONEY. It’s amazing, it made me realize how much time of my life I wasted. But no more, I will follow your teaching, and focus all my energy to improve my skills to make my F.U. MONEY. Thanks, you really are THE MAN!
Truly the only person i have seen on the internet that seems to care and make sense....Thank you Dan for your hard work so i can learn faster.
I just discovered this channel and it is awesome!
I JUST DISCOVERED YOU DAN AND THANKS FOR ALL THE CONTENT MAN PROBABLY I WOULDN'T HAVE GOT THIS MUCH CONTENT ANYWHERE FOR FREE.THANKS A LOT 🙏🏻
You're in for a treat :)
You okay?
It’s called common sense
this was the MOST liberating video ive ever watched. I feel so empowered and I feel i can do it. Thank you so so much.
Very powerful stuff. I have bad debt and after watching this video, I am motivated more than ever to become debt free. For me it just clicked after I watched this. Thank you sir!
Loving that Katana Dan, and im really grateful to start my morning with your video
Thank uu i sharing y re ideas with everyone specially with young workers :) its working slowly but working guys started saving money
All the best
Dan, I've been following you for a while. I really like how you teach, straight to the point, your articulation is very clear, oh I love it. I wish one day you come to Indonesia and I definitely will be one of those who join first. Thank you Dan for inspiring me. God speed.
I saw your interview and I wanted to know more abt u, and now u became a ideal person to me. Your solutions are phycologically connect to ones emotions which satisfies everyone. "We human beings are not logical but emotional persons" sounds so damn correct . Thanks sir for your motivational videos 😊
Loved it! Makes sense (the emotional one) Thank you!
1:17 I recently was asked in an interview why I quit my job to go to university and when reflecting I think this video pushed me to quit my job to do my accounting degree, it’s a good debt, I didn’t get the job but I immediately applied to another job, I’m on target to getting a first class degree in accounting too, thank you Dan, you’ve changed my life.
Also I work in a bank too, thanks to my studies and Dan!
Always looking at things from a totally different perspective. Excellent advice. Thank you so much SIFU.
the perfect guy to offer advice for this problem! thanks,Dan!
Another great video. I’m glad you have calmed down with the swearing. 10/10
Ive just started watching your videos today, just last night I started budgeting my money with my manager. But I want saved money to grow, and I want to start a business. I'm taking notes on what you on saying from each video so I dont forget
Dan greetings out of Boston MA USA. This was the most effective free 12 minutes talk I've ever watched. Thank you for your motivation.
Excellent video Dan - much appreciated. Also well done on your now 600,000 SUBSCRIBERS!!! 🎉🎊💯💯💯💯💯💯
Omg 10 months later he has a million more
Thanks for the tips Sifu Dan, i never want to be in debt in life. When I was caught in this debt situation. I never new the way how to get out of it. Until i come to learn the tips you spoke just now. Tips #3 caught my attention how the psychological debt could torment a person emotion and surrounding, the more I ignore the signal, the less i get to achieve to payoff the debts i have. Even though I was working on getting more income.
Thank you for the eyes opening video. Watching from Zimbabwe
EXACTLY what we're already doing right now... Thanks for the confirmation, Dan!
Hi Danlok, thank you for sharing your knowledge that helps people around the globe to get out of debt. Thank you Mr Dan!
when you said I don't want to think of how much my debt is, that is so me.
Im a simple person.. I see a dan lok video.. I watch and hit like :)
Wow!!! This is the first time having debt (parents) and watching your video makes me know how to start paying it off. Thank you for this video and I will try my best to improve 😊👍
I was already doing the first two before I saw this video, but Dan gave me the final piece of the puzzle with step three, and it all makes sense now! Thanks Dan!
Wow and I was mentioning someone about this yesterday ! Thanks Dan
A++ on all 3. You make a lot of sense.
Thank you from southern California.
California is a debt state... Unless you're making 6 figures... Why I moved out of California. 😂😂😂
I started educating my close relatives on debt in the last few months. We were so afraid of it that we couldn't level our income up for so long. Debt is not just a problem, it is also a solution. I'm benefiting so much from it. Damn, how come this is not common knowledge already. Took me 31 years.
I appreciate you making this video and will be sharing it with my fellow entrepreneurs that just don't seem to get it and can't hear it from me. They think all debt is bad and that's a dangerous thought to have as a business person.
I know exactly what you mean! spread the word.
Much Love From Turkey Dan!!
Süleyman Bölek selam kral
I owe a couple of thousands this video made me feel a bit more relaxed.
Did you paid your debts?
@@Ambrodilplus yes I was physically attacked for driving while black by white supremacist so got a large payout and paid off all my debts 😊👊🏾 without payout I was planing to pay off by 2021 but ending up paying off my original 5000 debt in 2020 which was great! Thanks to the white suprematist prejudice it actually helped me out in this case even though was stressful at the time it all worked out thanks.
Pay off the debt that has the biggest psychological effect on you. I get this! Thanks
Appreciate all the Nuggets , helping me transform my way of thinking to handle things differently and be more succsessful
Love the Katana Dan. A real warrior weapon. Nice video.
step 3 blew my mind. it was a good one
When paid off smallest to larges debt it's called snowballs effect that Dave Ramsey is famous for. When paying highest interest to lowest it's called avalanche.
Omg !!! 600 K Subs.. Congratz DAn.... Waiting for 1 Million Subs !!!
Finally a guy that makes sense!!! Good advice!! Thank you.
Had my attention the moment he pulled out that sword!
Swords tell stories. This guy is good.
Started watching your stuff a while ago, maybe two months.
I was fired two years ago from my first and last job and never looked back.
Listened to your audiobook not two weeks ago and gotta tell you, never had a fire like that under my ass.
My entire train of thought has changed. I have the feeling of being chased to just fucking do something to try to be better financially and do that shit NOW.
Found a piece of real estate I might invest in soon.
The real estate I have now is going quite well, just the one client who is demanding and is starting to cost me more than he is giving me.
I really like the idea of paying off the highest emotional debt first. Totally agree that paying the people who nag off first is definitely in my best interest long term.
Thank you dan!
Thanks for the insight Dan I officially changed my focus on lowering my debt to increasing my income.
Can't believe I found this channel just a few days ago! Thank you for sharing your wisdom and great sense of logic! Will binge watch! 😊
WIRELESSHACKER on instagram he's my life saver and i can't imagine my life without him God will keep on bless you 🙏..
Those Crazy Rich Asians got nothing to do with Dan "The Real Crazy Rich Asian" Lok.
Thanks sir for this free education...
Thanks, Dan, right now I have no debt so what is important for me is to increase my skills and experience.
Man o man...thanks Dan...most power ful..
This is real inside scope...from experience thanks Dan.
That's so true. I need to invest in myself! Thank you!
fantastic analogy Sifu
Sifu, I'm astounded by the lesson of this video. Its more than light bulb going on inside my head, It's a blinding flash of lightning jolting me awake. Thank you.
That little psychological trick is so true and applies to a lot of things like work ethic. Love your videos, Dan!
1 Month in June 2019 I must pay off all my debts
you got 12 days left! Send us an update!
Dan lok the lead dog, straight leverage king!!!
Appreciate your advice through this vid Dan! Thank you so much!!! You’re a star !
wow, i am so glad that i stumbled on your channel from no where, subscribed quickly so that i can learn business skills from you. Your content is very unique and valuable. thanks
"small success leads to bigger success"
Great!
Thank you for this help! I so love your realness. Dam'n are you the only person that has common sense?? LOL
I 100% agree with you!!
Great to listen to you. 3 years ago I paid off the smallest debt. Now I am paying off the biggest whatever I earn I invest into myself. To feel better and to aquire additional skills I rest a lot and relax. Only inner peace lromots me.
Thank you dan lok and I am forever grateful to hear your messages when you post.
Good idea
"You don't have an expenses problem, you have an income problem."
So true!!!
Money is debt. You can have good debt - income or bad debt - expenses. Ex: You can buy a house to rent it - income or you buy it to live in it - expense. The problem with money is debt is inflation, governments print to loan, and every time that happened resulted in war ... history is the best teacher to bad we don't learn from it...
I love this mentality approach. Lot of diferent than Ramsey.
I learning a lot from you . Ihad a business before and failed. I want to do a business again but carefil this time...i had a lot of debt.
Good one amd helpful. Do you really tead all these comments or not?
Hi Dan, Hats off to you Sir. Thank you for taking time to share your knowledge. You are a great Mentor to me.
Very nice video, much appreciated. I've heard the concepts many times before, but it was very clear and the reasoning was sound.
Mr Dan had no other choice then Success
It's not a money problem it's a skill problem. I love this
Video hasn't even loaded yet and I already know it's gonna be a kickass video
Thats what I'm doing right now ! Payoff the smallest card and then shred it not to get tempted again ! It feels so good ! I think I learn it from you!
Student Loan debt for a Bachelor's of Arts degree is BAD DEBT. Trust me on this. Don't go into student loan debt unless you pick computer science or engineering.
Android_Z what was ur degreew
Android_Z agreed worst debt in my life 40k in debt for school feels bad man that a lot of money :(
Android_Z Umm, Law...
Android_Z It’s situational. If you want to be a psychologist or a psychiatrist going for a BA in psych makes sense. Just because you fucked yourself doesn’t mean you shouldn’t go in debt for a BA degree.
Did a BENG,, Trust me when I say even that is fucking useless...
So basically good debt is when you take loan to buy assets(like house). And bad debt is when you borrow money to buy liability ( like car).
Yes but it depends on your overall situation, stable income etc. Sometimes it is better to take a 100k car in leasing and pay it off monthly because when you get bored you can quickly swap it or sell it and you do not spend 100k for a car.
Akshay Joshi A House isn’t an asset unless you’re renting it out to others. Also a car can be an asset if it helps you get to places that generate revenue for you.
A house is not an assets bc it does not put money back in your pocket
house only become an asset when you rent it and it generates cashflow more than your mortgage.
@@ryantyler44 good point, I was hoping he'd mention it. Plus overpaying or bad credit increasing the percentage you pay equals bad debt!
First time watching.
Invest in your self and your skill set.
Know exactly how much debt you have.
Good advice.
You always make watching your channel interesting. I’m your fan and learning so much from you as a new TH-camr
My debt at the moment is $7,300 but I’m working to pay this off, and never get in debt again . Although I have 2 jobs I work for a company and the other is my business, it makes me dlr but not enough to pay it off. Like you said , I’m learning a new skill..
Man I wish I had 7k in debt... mine is student loans and it's at 188k lol I'm on my way to pay it off in 3 years :(
Wow that is nice bro
Who else is tired of hearing broke people giving financial advice??? THANK YOU DAN LOK
Listen to broke people. Their advice could save you alot of pain and loss
This is actually my first time leaving comments on youtube. I just saw your clip and was very encouraged to learn more about your logic on paying off loans or debt. Having said that, here's a little bit about myself. I have relatively big amout of student loan for my schools from undergraduate to dental school. Being honestly, it has been too overwhelming to dare to think about the exact number of it. However, as I finished watching your clip, I have actually wanted to hear more of your advice on paying off this loan and on investing in myself.
Sifu! For me it's one of your best videos ever!! So powerful! Thank you for always making meaningful videos. 😁
You really have destroyed the saying "Save every penny". What a dumb idea when you think about it now. Very awesome lesson on how and when to wield debt! They don't teach these lessons in High schools
That's a nice ass sword.
Another great and informative posting Dan. I have 'Good Debt' and now clarity to work to pay it off.
Focus on increasing income rather than on the debt. What you focus on is what you get. Very profound. Thank you for posting this amazing video.
+1 for sign a class
I have no Good debts yet. 🤔🤓😇
"Clarity is power, vagueness is weakness". Powerful!
Try *spenzer111* on Instagram he’s 💯 legit
You are one of a kind Dan.. your Videos helps me alot to change my outlook in business and in life , continue to feed us with your greatness in business...Thank you
For me, the one with the highest interest rate has the biggest emotional power because of the interest rate hahahah
I definitely need to work on getting experience and skills to improve my income. 😭😭
Good luck to you, you can do it!
Dan, Thx for sharing i used the same method to pay $31264 for my debt (C.Cs N' CAR L) in less than a year. No teaching. It was just my instinc how to deal with my debt. Glad to know now!