The First Thing To Do To Get Out of Debt

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I just want to announce that I just paid off about $56, 000 in student loans this week. I want to thank you Dave for the inspiration to get that albatross off my back. 🎉. I have no debt other than my mortgage, which is $112, 000 balance now. 😊

tocororo
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As of February 1, 2024, I am debt free! It took me about 3 years over $75, 000 paid off

jdtaylor
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I can’t wait for my paycheck this Thursday and I’ll be debt free! The peace of mind is almost here I can taste it! Free at last, Free at last, oh mighty God I’m free at last!

hasani
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I AM PROUD TO SAY IM FINALLY DEPT FREE!!!!
7 YEARS MAN!!!!
RIGHT BEFORE I TURN 30!!!
THANK THE UNIVERSE FOR THE EXISTENCE OF THIS CHANNEL...now i can be poor

jabbersneeze
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Dave is right. That’s how my husband and I lived for a while after we graduated. Both earned six figures and lived with 36k, just like how we used to receive our stipends (18k per year) when we were graduate students. We kept driving our cars what we drove when we were graduate students. In three years, my husband and I saved up almost 250k. It was such an incredible experience to see how fast we could grow our assets.

sihyunkevinwi
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Do NOT spend the sign-on bonus until the time frame specified has past. If you're let go and didn't work past the date on the contract, you gotta pay that sign-on bonus back!

justinwymore
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I put the odds of them continuing to live like poor college students after he graduates at about 10%. The spend, spend, spend mentality in this country is pervasive.

desimo
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It sounds like she is tired of working and being poor, and is itching to buy a lot of stuff to show off that she won at the choice of mate game. But this is what causes upper middle class to end up paycheck to paycheck.

chrysiarose
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The biggest expense of being in debt? The loss of mental health.

dplj
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The way she said “oh my gosh” then giggled when Dave said “155 in 10 months it’d be 15k a month”….her eyes went🤑

MindsetMastery
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As a student for nurse anesthesia he cannot work at all for the entire program. They’re living off loans. He will have at least 250k in debt after another year.. this is why I don’t go down that route. I can make 250k just doing weekend option and overtime + bonus at my hospital.

VlauableFather
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She wants to buy a house after he graduates while they’re 155k in debt? 😂😂😂😂😂😂😂😂😂

Jdhcjfbdb
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I just met you and I love you! This was so helpful. Lightbulbs I didn’t know I had finally clicked on.

adorimonroe
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Dave almost never factors in taxes, especially FICA and Medicare tax. With a $210k salary, , they're looking at about $13k in FICA/Med tax alone. Granted, that will likely be reduced by pre tax health insurance. Additionally, he's probably looking at $30k-$40k in fed and state withholding taxes on top of that. Throw in health insurance premiums and his $210k gross salary turns into $150k net pretty quickly.

drewo
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My brother has paid off 50k (out of 120k total) of student loan debt in two years working a job that gave him 45k a year. Lived with my parents, old Honda civic, eating out once or twice a month at most

dedgar
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I’m currently in school for nurse anesthesia and this makes me happy to hear.

School is crazy expensive. I will owe $150k by the time I’m done. I have the money cash but right now it’s paying for my living and move for when I start clinical.

Great episode!

amendaalmonte
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He just gave her really great advice. I hope they follow through.

marissachapman
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I'd be reaaallllyyyy wary of spending a sign on bonus like that a year before starting a job. Things can change a lot in a year, that that could get clawed back if life changes or the offer doesn't work out, it just feels like counting 100, 000 chickens before they're expected to hatch a year from now...

tate
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The first step to getting of debt is stop going into debt.

dustincollins
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A hard working CRNA can make $500K in a year, but then they go and buy a million dollar house and a $140K Cadillac Escalade and then they become modern slaves and they are forced to work 75 hours a week to keep up with their life style.

Marcosmercado