The Truth About Debt and Being Debt-Free | Dr. Grace Stephens | TEDxMint Street

[SilverTimkin]

What I learned from this video is that all you need to get out of debt is to receive a miracle. Thanks for the amazing insight. I'll be sure to pass that along to my financial advisor.

[brianchudzik]

I did bankruptcy law for 10 years. Surprisingly, I went debt free shortly after realizing the pain of others. It is the only way. Takes a bit of sacrifice and forbearance of the finer things. So worth it.

[cwp]

Respectfully, Dr. Stephens, this was NOT what I expected. Given that this was a TEDx talk, my thought was that in addition to your personal victory lap (congratulations on becoming debt free), you would have offered strategies that others might use to become, I don't know, EMPOWERED themselves to also experience being debt free... The value is not just in the destination but also the journey to the destination...

[CanYouHandleLife]

Being debt free is hard work and takes time. Sometimes it hurts to stop throwing money away on things you don't really need but it is the best feeling ever to be debt free.

I hope that everybody who reads this can find the courage to do the work to be debt free, I managed to do it after years in debt and I don't even have a mortgage now. House is paid, car is paid and I don't have a credit card. The bank won't allow me to go below zero and that is the first step: if you don't have the money for it, don't buy it.

[Travelrob]

Being in debt is bad. Being debt free is good. I just saved you 10 minutes.

[RuteCabral-fiuy]

One of the main causes of debt is spending beyond one's means.

[austengal]

Very inspiring! A reminder that we don't have to live this way and that debt doesn't have to be normal!

[nextworld]

Excellent presentation. Dr Stephens had to work long and hard to develop this.

[quietearthMT]

I'm glad she mentioned people using their student loan "refund" checks to pay for things.. This is one of the major, hidden issues with why student loan debt is such a big issue in America. This is probably responsible for more high student loan balances than the actual cost of the classes.

[tracywalker]

Thanks for the heads up. Removed from my watch list.

[hdarcydfleshy]

Debt is a financial tool that can be used to achieve financial goals, but it can also be a burden. There are different types of debt, each with its own advantages and disadvantages. It is important to understand the terms and conditions of the loan before taking it.

[LiamMitchell-js]

This really changed how I think about debt and financial freedom.

[FiveMusic]

I’m just relieved the message “debt is life cancer” is alive in some small sector of our society. The reasoning behind it is nearly secondary to the message… until Americans learn that debt is dangerous they’ll live like addicts, abusing something that has a level of power they don’t understand. It’s the new morphine… a potential benefit used correctly and in very small doses, but disastrous when used wrongly, too much too quickly, or too often.

[DanielFoster-cm]

Eye-opening talk with some practical advice—Dr. Stephens knows her stuff!

[PeteRainhard]

Dont think about money is everything. If you win you win, if you lose you lose. It is just money. Means nothing.

[BennyLevin-niif]

Good debt can include loans for education or purchasing assets with long-term value, while bad debt is often unnecessary consumer debt.

[punkpclfarejtv]

It is necessary to distinguish between good debt and bad debt: Good debt is debt that helps you increase assets or income in the future. Bad debt is debt that only brings costs and financial burdens to you.

[lindadorman]

I think this would have been more helpful if she explained specific steps she took to become debt-free. What behaviors did she change? How did this affect her daily life? What tools helped her accomplish this goal? How does her experience translate to someone who lacks the education and opportunities she had/has? Personal experience is interesting but it only has meaning if it can be scaled to others.

[anthonyyeh]

Consume less, living below your means and cut the credit to tackle down all the debts one by one until you can announce yourself debt free 🎉

[omjrstqsienna]

Debt can have a negative impact on your life: Debt can cause stress, anxiety, and depression. It can also make it harder for you to achieve your financial goals.