Debt Confession | 19,457 | Snowball Method | Zero Based Budget

Hello! Welcome!

My name is Claudia, I am an all cash budgeter and would like to welcome you to my very first video. I am a 27 years old full time worker and mom of one. I have many goals to help reduce my debt and also increase my savings. I would love for you to join me on this journey. I am by no mean a financial expert or adviser so please be patient with me as I do what is best for me and my family. Any constructive criticism and advice is welcome!

And please...
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[budgetnplanwithme]

Hi, guys! Sorry my words were all over the place; I was super nervous/anxious to film this. Plus it’s only my second video. Promise I’ll get better!!

[PNAMNFamilyBudgets]

Hello Claudia! It’s alright girl, we’ve all been there. My debt was more or less $30, 000 and it took us 2.5 years to get rid off with a lot of sacrifices (moving in with my in-laws, stopped shopping, no eating out, no gift-giving, etc). All money we received from Income Tax, raises from work and bonuses went to debt. I didn’t start my YouTube journey until I was completely out of debt. Now all the extra money we are receiving goes to savings. Don’t worry….You got this! I’ll be here watching you crush those debt.

[angelmission]

You need to add a bit more to the payment to have a larger snowball to start. ONCE that first one is paid off, roll that snowball payment onto the next and you will see faster progress.

[libbysworld]

I had a very similar debt balance 27 months ago. It's now at $1400. Stay the course! You can do it!

[moneywithjustliving]

Good Morning, great to be here. The intro bloopers are a great touch.

[alexisbudgets]

I love your set up!!! The candle is giving off great videos ❤

[margaretsilva]

To constantly remind you not to charge anymore, you should also calculate how long it will take to pay off each card. Unfortunately, if you go to the first card and only pay $157 a month, the calculator is showing that is not a sufficient minimum payment. If you paid $250 a month toward that card it would take you 57 months to pay it off, which tells you in this case of the credit card company is allowing you to only pay $157 a month for nine months, most of that will go to interest. You MUST find ways to cut your budget to find ways to make more than minimum payments or you will never get out of debt. Harsh reality, but true. Good luck in your journey.

[lstrick]

Thank you for being brave and sharing. #inspiring Good luck on your journey.

[tangoandali]

You are right you are not alone. Last payment on triad leasing. Next paying off credit card debt. Lucky just 1. But medical debt and truck payment debt

[PattieM]

Don’t limit your son from going out just use cash instead. He’s young. Make the change when he’s young and he’ll thank you later when you have that extra $150 a month from paid off things and can breath just a little bit easier. You’ve got this girl! Do a simple no spend month and you’d be surprised on how well you do. He’s not too young to talk to him about this stuff.

[blackjag]

Hello,
I would throw in the car too. Get rid of it all! You can do it! I would also use my refund from my taxes. I used it to pay down my credit cards and fill some sinking funds.

[BudgetStuffSaveRepeat]

Hi Claudia!! New subbie!!! Welcome to the community!!! It’s all good…we all have been there and have been nervous 😬

I started with Dave Ramsey in 2004. It was hard, but I was single and had no kids. I only had $20 spending money for two weeks…it was sooo hard. I wish I would have given myself some additional room. However, getting rid of debt has been soooo rewarding!!

You got this!!!

[amy_budgets]

New subscriber here 💜 You are doing great! I just started sharing my journey too.