What is your short-term debt goal? What is that one thing you can do in two months that will help you get debt free?

@gregspradlin290

5 жыл бұрын

I am on a strict budget now with the next two years planned for saving, paying off debt and transitioning to investing. Over the next two months my goals are to pay off my best buy card (only $100 left) and save one months worth of expenses (only $444 left)

@sharkinvestments4892

5 жыл бұрын

Great job @@gregspradlin290 ! Keep up the great work.

@item6931

5 жыл бұрын

Fake my own death lmao

@patrickbass3118

2 жыл бұрын

I owe a lot on my truck still, I want to get it paid off way in advance. I can limit my commuting to less travel time as it is costing me a lot in gas money. Hope I can do it!

I helped my girlfriend get out of debt last year , her biggest problem were her spending habits. She loved to shop. Once you realize what you’re wasting your money on and instead of burning that cash and start using that to pay debts you will be on the right track !

@josephhogue

5 жыл бұрын

Absolutely! Exactly why I love the spending challenges to help see what we really don't miss.

@lilianaarroyo1218

2 жыл бұрын

@Investing Hustler can you help me get out of debt lol 😂😂

I have about 10k dollar debt and I'm here because I really want to change. I want to educate myself to be happy. Thank u for your advices🌷

@dsclassic6568

2 жыл бұрын

Where are you at now?

I have 20k to pay off this year to be debt free. Car, medical debt and student loans. I’m determined to get out of debt before I turn 30 so that I can start saving for retirement and a home.

@WeaponsArePartOfMyReligion

2 жыл бұрын

Same here! I want to be debt free by 30. You got this 🤘🏼🙂

Those steps are great! The lifestyle creep is real and something we don't really think about.

Hey! You are one of the best on KZread and good day to everyone!🔥🔥🔥

Biggest thing I found is lifestyle changes. Thing is.. its the hardest to change.. I understood not to live outside my means but i did it anyways and put me under alot of stress. I learnt about how to improve my credit (and its relatively easy) and keep my focus on my spending. Baby steps.. Make coffee at home, meal prep lunches. Skip breakfast (good for your health) and try your best to be mindful of what is sucking your bank acct every week. Take it a week at a time.

@StephRivera

2 жыл бұрын

Skipping breakfast is not for everyone.

@danielnoonan7357

2 жыл бұрын

Eat oatmeal with frozen blueberries and k cups. Breakfast that is healthy and under a dollar a day. Later a banana and cottage cheese. Don’t skip breakfast. That is incorrect. Skip fast food breakfast and coffee

Thanks for advice

Thank you Joseph..great video

@josephhogue

5 жыл бұрын

Always glad to help. Welcome to the community.

Great video!! Love that you tell people upfront that it takes realistic goals + discipline and consistency to make it happen. I started by renting out my spare bedroom on Airbnb solely for paying off debt in 2017 because I felt that it was going to be easier to dedicate side hustle income rather than tightening my budget. By 2018 my credit score had gone up by 100pts!!

@josephhogue

5 жыл бұрын

Love that you're looking at your budget from the income side! Too many people just keep trying to cut spending and that's a dead-end if you're living paycheck-to-paycheck. Always easier to make a little extra to make those extra debt payments.

@learningwithbraun5223

5 жыл бұрын

@@josephhogue Absolutely! In 2019 I feel like the sharing economy is more powerful than ever so you don't even need to have a highly sought after skill. Got a car? Rent it out on Turo or drive for Uber. Got an extra bedroom? Airbnb. Got a bike? Deliver for postmates. The big thing though is you have to use that new income wisely. I intentionally route my airbnb payouts into a different checking account that doesn't even have a debit card so there's no temptation to spend it. It gets used purely for paying down debts, buying investments, and keeping a cash buffer as an "oh shit!" fund :)

@nathwilfredo30

5 жыл бұрын

I started with PATCHCREDIT last week and they removed 12 negative items on my credit reports they are great and well worth the money!!! Happy customer here. I totally refer their services to any one seeking credit restoration and rebuilding. ( PATCHCREDIT at GMAIL COM )

I'm working the Debt Snowball right now. I've got about $34k debt left of my $100k that I started with a few years ago. Should be done by the end of the year. I decided to make a KZread channel to keep me motivated through this last year!

@josephhogue

5 жыл бұрын

Two-thirds the way done. Great job! Did you do it by cutting spending or making more money?

awesome video man thank you alll the way from egypt

@josephhogue

5 жыл бұрын

Awesome how community can reach around the globe. Glad to have you in the group.

Eating at home will save 140 a week

Once I figured out that you earn about $100 a month for every 20K that you invest in a dividend stock, it makes getting out of debt, saving, investing almost addictive.

@josephhogue

5 жыл бұрын

I know, right? Almost becomes like a game to see how fast you can pay off debt and grow your wealth.

@ginaeguia8453

3 жыл бұрын

I'm also struggling financially , Hope you can guide me how to get out from debt.

It works. I had to charge to help family in crisis so my poor cc were almost maxed out. After the problem over I started to get serious. I paid off 3 and 4 to go. Get that CC bill down by pay minimum plus interest and $15. It works! I can save some too. I have an envelope for cash to use during the week. Due to the virus and can't shop I'm saving so much as I'm not also shopping every week. I'm jazzed now to keep going. I used the stimulus to pay off 2 more cc! Thanks for the super vid!

@jage5256

4 жыл бұрын

Thanks for the 💓 I'll let u know when I'm free!! So exciting. Today I used cash for purchases with the stimulus $ . Still have $400 in savings. You're awesome.

im 2500 in debt in coggle im so used to spending all my money without thinking i wish i was shown how to budget better

Great recommendations. I'm sure anyone that picks up on these will do well. I've helped family members get out of debt with the avalanche method, throwing a snow ball or two as some small debts came within range.

I started off this year doing very well....and now I’m 3 months behind on my car payment. All of my other bills are late. I have money in a savings account, but I refuse to touch it. If I do, I’m going to end up spending it all.

I think I get taken advantage by sales people. I find that stuff online like I need to see what it does. I during covid I was getting addicted to Amazon. I don't have time to look as much working.

Trying to pay off debt only around 3k but I need to work on bad habits

I want to get out of debt without a side job. So I am cutting back as much as possible.

Joe, should you pay charge cards earlier in the month verses waiting until the end of the month?

@brianthompson9936

2 жыл бұрын

Yes I can't remember where I read it but it's stated that you're not paying as much interest

there needs to be a peer to peer loan that won’t reject a person that can pay

Thank you...💳💸🚫...💰👍🏾

@josephhogue

5 жыл бұрын

LOL. Always love a good emoji!

Should I use tax return to pay off one large debt .vs two or more debts . ? What do you do with tax return money?

@josephhogue

4 жыл бұрын

Great question. I think I'd go for paying off the smaller debts. Maybe more motivational there by wiping more debts off your budget and having fewer bills to pay. Can also try paying off the highest rate debts first to save money on interest. My tax refund gets invested back into my business or investments. I only have a student loan to pay off but that's at 3.75% so I'm in no rush to pay it off.

@jage5256

4 жыл бұрын

I would pay off the debt and try to keep $200. Then now those two bills are paid off add what u paid to those credit cards and put it in your savings every month and don't touch for one year. U will be shocked and maybe cry how much u spent on those payments. By acting like u still owe and save it u will be cash happy for emergencies. I've cut up my credit cards. Only one I have is Sam's club I pay that off every month once I get it paid off. With my stimulus check I paid off 2 and will snowball those payments to the last 4 and I'm saving too. With covid around I'm saving as I can't shop so it's been an eye opener. Wish u well and stay healthy 😊

This is the way to go when paying off debt! Love the freezing of the credit card haha

@josephhogue

5 жыл бұрын

Thanks Denis. Loved doing a more inclusive video for debt.

@lynnquintana5348

5 жыл бұрын

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@jage5256

4 жыл бұрын

I've cut mine up. Can't read it for eBay and Amazon so I have to use my debit card as it comes right out of checking account so it's like cash and paid for. I only use one credit card so club and will pay that off and every time I use it from now on. With the covid I can't shop in stores so I'm saving money. Also door dash money pays cc bills too. I'm going to be debt free 12/30/2020. It's my goal. What's yours?😊

Im about to be 40k In debt eith my cars rent student loans and medical bills but im ready

This is my major goal for 2019. Of course I have minors ones as well.

@josephhogue

5 жыл бұрын

Excellent. What are some of your shorter-term, smaller goals?

Paying off that used car loan sooner can save you even more money because you won't have to carry comprehensive insurance on it--just liability. Reduce your coverage when it makes sense to do so, however. If your annual premium is more than 10% of the car's replacement cost is a good rule of thumb. Put the savings towards a new car fund.

@josephhogue

5 жыл бұрын

Great point Chris. So many little expenses from owning a car add up so fast.

I stop buying clothes from stitch fix. I stop going to planet fitness. I been making my own food, using what I have in my place. I decided this year not to buy anything I don't need to purchase. I try to go to free events, like I plan to go to ice sculpting events.

The thing about buying used cars doesn't apply anymore..Try finding an used car that works now for under $10K...

How can u budget when there's none to budget?

@jobpromoter4999

2 жыл бұрын

gary randall tradíng

What if you make 18k a year?

What about if all your debt is bills? I had to file chapter 13 to be able to keep my car and that’s 325.50 a month, my gas now is almost 60 a week and that’s if I just go to work and stay home on My off days. I make under 1500 a month

@tenacious1

Жыл бұрын

Maybe looks for ways to increase your income.

@gatoborracho4572

Жыл бұрын

You'll be broke the rest of your life

2020 my goal is to get out debt period....

@jage5256

4 жыл бұрын

Use your stimulus check to pay off the smaller credit card balance and put $300+ in your savings. Don't touch your savings for a year. The payment u made to that credit card use have in your savings and the rest add to your next credit card u owe.

Mr. Hogue are you a big fan of p2p lending or in your opinion is a scam?????

@josephhogue

5 жыл бұрын

Actually, I have about 7% of my wealth in p2p loans on Lending Club. Love the higher returns compared to bonds and the diversification from a stock portfolio. There are a couple of videos on the channel where I share my experience and the loan filter I use.

if you can just pay them in full all at once is this just the best route to take?

@josephhogue

4 жыл бұрын

Might be the best option, especially if the rate on your balance is high. Better to pay them off and save the 20% annual interest than waiting trying to get a discount.

Get to the 👉 point

Pete Eckhart does not deserve this slander

@josephhogue

2 жыл бұрын

Who is Pete Eckhart?

In my opinion, the debt snowball effect is the best way to pay off debts. That is what I have been using for 8 months, and I have eliminated a ton of debt! I still have $3,000 to go, but I'm almost there. If you would have learned this at a younger age, how different do you think your life would be?

when i saw a bowtie with a head on it i knew it was bad. but after he just kept of yaping without saying anything. and most likely just wants you to buy his “book”.

thumb down unsubscribe. Made it to point 4 and realized. He isnt telling you how to pay off debt he is telling you how to not increase the debt you have. No information needed now back to Dave Ramsey.

Total bullshit! Only way to get out of debt is to not use your credit cards, be on a budget, make more money. Lot easier said than done!

@josephhogue

5 жыл бұрын

Not using credit cards, staying on a budget and making more money isn't "easier said than done"...it's impossible for some people. That's why I take a practical approach instead of telling people to do something I know isn't going to happen.

@emjay2045

3 жыл бұрын

@@josephhogue ☝🏽🎅🏼

Joseph, in the first part of your video. You say something like “whether you are $15,000 or $50,000 in debt I can help you” Umm, who is your intended audience? 20-24 year olds? What world do you live in where a mortgage, car note, maybe student loans, maybe credit card balances add up to 50k. Please tell me so I can move there

@josephhogue

2 жыл бұрын

I think you're focusing on the wrong thing. It doesn't matter how much debt you have but how you tackle it. Pay more attention to the actual steps. - You don't think someone could have $50K in debt from car, credit cards and student loans?

@dsclassic6568

2 жыл бұрын

How much debt do you have?

@gatoborracho4572

Жыл бұрын

Just follow the advice...and stop spending like if you were in congress

how can a dude be able to talk about money and how to deal with it. but had 15k credit card dept

@EnlightenedDrummer

2 жыл бұрын

Because people make mistakes . It’s not about just the mistakes but how you overcome and fix them . It’s like asking how is a guy who was poor who is now rich going to tell me how to make money or how is someone who was an alcoholic but now sober going to tell me how to quit drinking etc

Great recommendations. I'm sure anyone that picks up on these will do well. I've helped family members get out of debt with the avalanche method, throwing a snow ball or two as some small debts came within range.

@josephhogue

5 жыл бұрын

Thanks. Yeah, I love combining the two methods to get that motivation and save money.