I'm Afraid To Use My Savings to Pay Off Debt

I'm Afraid To Use My Savings to Pay Off Debt

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• The Ramsey Show (Highlights):

[jennawarnock]

I totally understand being afraid to use savings, it’s such a mental thing 🙈

[Knyght]

Love people that "follow the baby steps" and obviously don't.

[dbpiano]

I still don’t think the guy understood what his monthly expenses were, math still didn’t add up at the end

[karenc]

I never realized before that only 20% of Dave’s answers are the information of the baby steps. He spends 80% of the time connecting with the caller. Every caller wants to believe that they are the exception, and in order for Dave to change their mind, Dave first has to show he understands the caller’s unique situation. Then he presents the next step as just the next logical thing to do, which also happens to be the baby steps.

[MC-vgtl]

The caller is not good with numbers. He can’t even compute 3-6 months expenses 🤣🤣🤣

[BlessedbytheKingofKings]

Happy Sunday everyone. Remember to be kind to everybody everywhere.

[ASLunar]

This still doesn't add up. He makes 70K a year but his expenses are 7K a month.
7K x 12 = 84K...

[j.mney]

Savings is a security blanket so it can be difficult to use it. However, this guy is in great shape. Payoff the debt and still have $21k in savings. Great job man 👍.

[WSrambo]

It sounds like his monthly expenses are under 3k which means he needs about 9k for an emergency fund.. he doesn't need 6-7k a month, that doesn't make sense.

[ndem]

paying that debt will make him feel so much better and beauty about making money, you can always make more.

[MillionaireMindsetClub]

I'm glad the math added up eventually. Ramsey would have lost it by then 😅

[tmusa]

He’s in great shape and once he gets onto Ramsey’s plan, this will go so fast! Good job, sir!!!

[codingispower]

I finally paid off my student loans in FULL just before forbearance ends. I refuse to let the loan company get a penny of interest from me. I'd rather have a temporary reduction in savings and build back up so I don't have to get SQUEEZED by the student loan comapny. Screm em.

[mxerb]

How is this guys monthly expenses 7k a month?? Why don’t they ever address that problem

[JaRaffeBowling]

Im 27 with 8k in the savings, all debt paid off besides mortgage. Bought a condo april of 2020 and the feeling off paying off the condo at a faster rate and able to safe is the best feeling ever.

[phillips]

I don’t know. Something still doesn’t add up. I think someone needs to sit down with this guy and figure out dollar for dollar where all this money is going. His baby steps are out of sync and he doesn’t understand how to answer these questions.

[dsanti]

70k salary . 7k monthly expenses . Not adding up Lol

[nepatriots]

Im just afraid to spend money in general. I've become this cheap person

[tdontv]

What about the fact that he said his expenses are around $7k/month and he makes $70k/year? Even if $70k/year is his net earnings, that’s still $5833/month. I’m guessing he might be referring to an annual salary of $70k/year which is going to be around $4k/month take home. If his numbers are actually accurate, he will continue to need debt to live his life until he decreases his spending or increases his income.

[flisfinance]

I feel like at this point no one is doing the baby steps right