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Afraid To Use Savings To Pay Debt!

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Comment from : @TheRamseyShow

"by paying down the debt; you've just admitted how broke you were" -- ooof the truth been here
Comment from : @futureforward3153

This the 1st episode I can mainly relate to brI feel like if I use all my savings in debt I don't have backup money for spontaneous situations
Comment from : @indiawashington-charles9739

I just found ramsey and have been binging his newest stuff, from this year Im surprised to find this oldie and hear him not be angry, rude and scolding the caller
Comment from : @noname-ea

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800 Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer
Comment from : @LilyClark-g3q

How can I safeguard my investment portfolio of around $2M in stocks amidst the economic firestorm? What's the most effective strategy to reallocate funds in my portfolio to hedge against downturns?
Comment from : @AnnieHolsen

Good old days when everything was cheap and you could pay your debts down every month
Comment from : @Lkjnn2287

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @RitaOwens94456

How can she say she is a saver and has over 40k in debt she is deluded
Comment from : @ruthirwin8222

64, retired… make 400 a month donating plasma… great gig…
Comment from : @jillharling

I want to hear all the testimonies of these people after the decisions they’ve made
Comment from : @StrongBodymindandspirit

Pay the car off, take the car payment and apply it to the student loan and add it to your usual payment on the student loan
Comment from : @laserwizard2

i will use my savings to pay off my debt, thank you for this!
Comment from : @oeddin3928

I’m going to take the plunge and pay off my car today
Comment from : @yvonnegibson5445

I just wonderDoes anybody pay rent anymore dental Life Insurance Health Insurance? Because all I hear Ramsey talk about is the gross
Comment from : @hopeful876

I’m the same way as her I think it’s fear from growing up with lack scares me to take all my raining day money to a car debt Dave made good sense of saying how you really broke
Comment from : @1111_Millionaire

What if you have a spouse who you feel will just keep up the same level of spending on the credit card after you've used the savings to pay off the debt?
Comment from : @factitiously

70,000 a year in California is not a good living at all
Comment from : @dcfl2147

I recently did something similar by throwing about 25K of savings at the principle of my mortgage I still have a few months of expenses saved, but I can tell you I do NOT regret it one bit I was worried losing that sense of security, but it actually feels SO much better seeing my mortgage that much smaller and knowing that much less of every payment I make on on it is going toward interest
Comment from : @GrapplingIgnorance

You also save on interest charges
Comment from : @juliet2756

If you have debt, you don’t have savings
Comment from : @teambenjamin1

Only keeping $1,000 is terrible advice 🥴
Comment from : @crazycatlady312

Not to mention all the interest you are paying every month with those payments
Comment from : @xendarcodm

I thought he might say; sell the car
Comment from : @kellyinfanger9192

Just did this!! Had 11,200 left on my car loan 9K in savings and 3600 in some stocks Decided to cash out the stocks, pull just 6500 (2500 min for money market account) from my savings and pay the loan 10,500 in total Going to pay it off completely after I get my paychecks this month It’s scary seeing that money go but ready to knock this car out! Worst comes to shove I can always sell my car if there’s a real emergency
Comment from : @daniellujan9129

Thanks Dave Full bonus to debt!
Comment from : @jaygiant10

Your probably going to need another car at some point Unless your using public transport the rest of your life
Comment from : @stevenmorris2293

Clever Dave,stupid cow
Comment from : @matyasfegyver2898

Pay off the car loan for sure, but the student loan, I would look at payment plans or forgiveness options, many counselor services qualify
Comment from : @MaJieMao

I have this exact person's problem, im terrified to deplete my savings
Comment from : @MarkSmithhhh

as much as it sucks to use your savings to pay off debt, you tend to build it so much more fast and larger when you have no debt : )
Comment from : @davidbarroso57

He's got some good advice but I would consider the steps I would take before falling through with them to make sure that it fits your lifestyle
Comment from : @1072LTasshole

Just paid off my car after watching several of your videos all day! I was so nervous to move that money out of savings but now I'm so relieved to not be in debt for a car!! Thanks, Dave! 😁
Comment from : @summersea78

Lol…this woman realizes she has limited time with Dave She is trying to cram everything in…
Comment from : @KeebasLife

I have a buddy that is in the exact same boat 🛥!
Comment from : @ThatGuy-fx8yc

Brillaint answers Mr Ramsey Geeeze I wish you were my cousin
Comment from : @thefpvlife7785

I feel you Monique 100
Comment from : @lmoore58579

Appreciate the knowledge Dave, I swear you make a lot of sense
Comment from : @devellwilson7099

I watch for the captions lol
Comment from : @barbieblue3336

So you don't have 26k savings
Comment from : @AG-so4gl

Do black women even consider marriage? Good lord
Comment from : @aceguy5847

Is this call sped up? If not she needs to lay off the crank!!
Comment from : @dudleybrown7030

Stop telling people there not going on vacation or going out to eat it’s ok to treat urself !!
Comment from : @stevebohlinger3829

I hate it when those who know nothing about poverty, try to say they understand poverty!!brLook it up Dave
Comment from : @pennykilby6370

Planning on paying off the student loans before the interests kick in but I’m afraid of the same thing
Comment from : @hugomendez5625

If its difficult to pay it off all at once, why not pay off half of it so you have some savings still but get rid of a large chuck plus its interest Its a halfway mark if you dont feel confident paying all those savings for debt in one go
Comment from : @chrismccaffrey8256

Lol 71 grand Not relatable
Comment from : @tylerfaulkner3567

Thanks for the awesome videos
Comment from : @uriel-heavensguardian8949

I think paying down a car first vs paying down a student loan is something I wouldn't do because the car could be in an accident and listed as totaled You lose money
Comment from : @cparker8439

I’d keep a big chunk of cash in the bank and pay off the rest over time
Comment from : @marcopervo

I’d like to suggest a new way of thinking of this issue You owe 24k on your car with a $500 payment per month You have $25k in savings making $0 per month by paying off the car you’re creating a $500 per month income and moving your savings from your savings account to your car equity You’re not losing your savings you’re just moving it Think about that for a minute
Comment from : @ep1cgam1ng31

I like Dave’s older videos more 😭
Comment from : @THABOMB98126

Such a saver but has 48000 in debt This smells
Comment from : @666dynomax

Glad I came across this video I'm about to pay off my student loans now along with this medical bill
Comment from : @WavyMaxy313

Ur right Dave if you owe the money it’s basically not even yours
Comment from : @kevintalley1158

Saving money in case anything happens Hello, something has happened You're in debt
Comment from : @jimhandler1129

I relate so much!
Comment from : @kimberlyjimenezc3713

Wowyou brokesobering advice
Comment from : @normbograham3

Paying your loans off asap It will save you having to pay interest on the loans
Comment from : @danielmcclorey6606

It’s not you’re savings if you own them it’s there’s lol
Comment from : @20smogul

This man is incredibly motivating It was clever how he used her own professional training as a counselor to inspire herbrbrDave 2024!
Comment from : @stevedrake380

This call made me put my savings toward my CC especially since I just calculated my interest for the year and it made me furious
Comment from : @stephaniedingle9061

Pay off the car!!!!
Comment from : @willsims2009

Great advice Dave!
Comment from : @scitch34

That’s what I exactly did I paid off my 26k car loan with all my savings and I have 3k left after all THANK you Dave!!! You changed my life💪👍
Comment from : @eso1666

I have $21k in savings and $20k in student loans I bring home (straight to the bank after taxes , deductions, etc) $60k- $62 /year Should I pay off and restart my savings? I’m so scared/ nervous to 😱 restart my savings!
Comment from : @Norcal_raiderfan2

If you're in debt how do you have savings? Lol
Comment from : @leeroyjenkins5208

I watch videos like this whenever i am afraid to touch my savings! NO DEBT IS THE GOAL
Comment from : @hw534

The goal isn't to "retire with dignity" The goal is to life each day by the lifestyle you most desire If you aim too far into the future, you're missing out on today When I'm 65, I want to be broke, not rich
Comment from : @swavekbu4959

Lol this is totally me 😅😫🤷🏽‍♂️👌
Comment from : @likitysplitlickitydickity4496

When you buy the car what did you thaught?You didn’t have to pay?
Comment from : @sokolculi2727

“If you have a negative net worth, YOU’RE BROKE”brbrYikes!
Comment from : @chassiddywilliams3309

This is my favorite call! I am in a similar situation
Comment from : @DThaker

She lives in LA 71k is no money I was making over 90k starting as a correctional officer there and that was good but not that good
Comment from : @414mac

Debt is the devil 👿
Comment from : @droolalot5795

Having a savings with debt is backwards
Comment from : @fabianavalos1386

This lady sounds like someone I want to be You can tell that she is highly intelligent and sophisticated She's successful but she also has her struggles
Comment from : @pangkue3276

Not smart Liquidity is vital The need to be able to sustain in case of a loss of income is more important than paying off debt If she does what he wants her to do and pays all that $26K towards the car and the student loans she will have nothing if, within weeks or months of doing so there is a loss of income brI speak from experience The single worst financial mistake of my lifetime, and I am now 50 years old, besides getting into debt in the first place was being too eager to pay it off I paid $14K of debt off with savings when I got into the myopic get out of debt mindset That was in 2008 brDo I need to tell anyone what happened next? I was forced into bankruptcy because I had no liquidity to survive what worked out to be a very short-term blip in income brBy the time my bankruptcy was discharged in 2011, I was earning well over $100K a year again Looking back, I needed the cash on hand more than I needed zero debt
Comment from : @pstevenstrauss2547

Pay off a car and have zero savings? Sell the car Buy a cheapo and keep a safety net Overpay the other debts monthly and quickly but the idea of using all savings to clear debt and carry huge risk as you’re broke seems like bad advice
Comment from : @0-60sportscarclub3

You find a job
Comment from : @angelabakloyvovtchaikovsky1609

You can build more savings without debt
Comment from : @mitchellm3536

There are good reason(s) to hold on to savings without paying off your debt Only one good reason If you are making more profit off of your Investments than you are paying in interest, it is a good idea to stay that way Otherwise you are making a bad financial decision
Comment from : @enlightenedidiot9552