Should I Use My Savings To Get Out Of Debt?

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[geo]

Paid off my house this month, only took seven years on a 30 year mortgage. Best motivation was printing my 30 payment schedule and keeping it on the coffee table. When you see the money wasted on interest you get super motivated to get it done with. No more banks, no more loans.

[deborahg]

I spent 2.5k on a 16 year old car 1.5 year ago and it runs great... I am not going to finance anything. I also live on a bus route so I'm willing to take that if need be. I am paying off my 78k student loan by April 2021. Thank you Dave!

[NotGahruvey]

My dad put me on to Dave Ramsey when I was maybe 13-14 I’m 27 now, this man has blessed me with so much knowledge and helped with my financial life.

[lozza]

Since watching Dave’s shows, I’ve started to notice really deprived areas with small houses have brand new expensive cars sitting outside, and large houses in nice areas have a little old hatchbacks sat outside

[mjbankhead]

Pretty much this guy is going to do what he wants to do. I can tell by Dave's voice that he knew he wasn't going to follow his advice.

[jameswd]

2 Debts Dave hates the most.

1. Credit cards
2. Vehicles

[tjbalistic]

Blue Collar people show their status with their vehicles. They often have a hard time transitioning away from that mindset.

[andrewf]

Love how savage Dave is with that mute button haha

[elianah]

Why do people call Dave, thank him and then try to speak over him? Explain your situation, articulate the question and then let the man speak. He’s the one with the wisdom or you wouldn’t be calling. Sheesh. Thank goodness for the mute button.

[matthewhoover]

I felt a little sorry for him until he said he's putting 40 thousand miles on an expensive truck for a fricking hobby. I assumed he was a contractor and needed a truck.

[chrispeabacon]

When Dave mutes the caller and closes the call is my favorite.

[HereIsWisdom]

I don’t really understand these kinds of ppl. No debt, except for $24, 000 truck, 30 Gs in the bank. Sounds like a no-brainer.

[obits]

Here's another thought. You don't have to pay it off at once. Just drop some cash into it to reduce the interest.

[mikem]

So many people buy trucks that they don’t use but a couple times a year. Save the 600$ a month and rent a truck from enterprise or Hertz when you need it.

[mrpower]

Dave is just showing off how big his work desk is with this video really. that desk is HUGE!

[talawoods]

I love when Dave says "you can do whatever you Somehow that statement is a mental jolt!

[wk]

One caveat: make sure you change the behavior that got you in debt in the first place, otherwise in a few years you'll have debt again without the savings to pay it off.

[fifthdimensionguru]

Caller: I have $300, 000 in Debt...
Dave: What's your household income?
Caller: eghtsawrvvhyopdeweccjkc
Dave: Sell the car.

[eumebpj]

This guy doesn't want to give up anything!

[mrq]

I have not watched the video yet, so I don't know what Dave will recommend, but I had a similar situation occur. In the past. A close friend of mine was paying bills online while the two of us were talking about a few things like debt and bills. My friend allowed me to see his credit card debts at a particular bank. I noticed he also had a savings account at the same bank with a large balance, enough to pay off his credit card debt completely. I told him he was spending money on interest for no reason, that he should pay off his credit card debt and then use his freed up cash flow to save again.