If you’re in debt, odds are you’ll stay in debt for life—unless you break the cycle. Millions are drowning in late fees, collector calls, and constant money stress…but that doesn’t have to be you. I’ll show you the 8-step system to pay off debt fast—and stay debt-free forever.
???? TOOLS TO PAY OFF DEBT
* Conscious Spending Template: https://iwt.com/csp-youtube
* 1st Chapter of I Will Teach You To Be Rich: https://iwt.com/chapter1-youtube
* Debt Payoff Calculator: https://iwt.com/debtcalculator-yt
* Check Your Credit Report: https://www.annualcreditreport.com
* Money Coaching with Ramit: https://iwt.com/moneycoaching-yt
???? PAY OFF DEBT FASTER BY EARNING MORE
* Get a Raise: https://youtu.be/KOr3sbYPAW4
* Find Your First Profitable Idea: https://iwt.com/findanidea-youtube
* Earn1K | earn $1,000+ on the side: https://iwt.com/earn1k-yt
* Start & grow your business with Earnable: https://iwt.com/earnable-yt
* Find Your Dream Job: https://iwt.com/dreamjob-yt
Ramit Sethi is the host of Netflix’s “How To Get Rich” and New York Times bestselling author of “I Will Teach You To Be Rich” and “Money For Couples”
Find Ramit on Instagram: https://www.instagram.com/ramit/
Subscribe so you don’t miss any of Ramit’s videos: https://youtube.com/user/ramitsethi/featured/
The habits have to change in order to get out of debt and stay out of debt.
Your couple only segment does not make me feel valued as a single person dealing with an elderly parent. I am always hoping for tips on that
Ramit. I am doing a mixture of both. I have this Wells Fargo card that i used to purchase a coach when i moved out my dad house. So to me the interest rate compare to the others seems similar so I decided to start with that one first. There is very little amount left on it and i need a little win soon. After that one is pay off, I will be going by the avalanche method to pay off my remaining debts. It’s around 44,000 including student loans of 19k . I will come back here in a year for updates.
We will be debt ???? free ????
Thank u ??
When you call credit card companies to lower the rate, they typically do it under “hardship” and its temporary- like 6 months. Sometimes what happens is they cut your credit limit down after. Is there a way to avoid that?
Debt sucks. I’m on my 3rd time getting out of it and each time the total has been more than the last. Last damn time man.
This was great, thank you!
This is an excellent video and this advise works. Face your debt, deal with it and learn financial minimalism! Keep it simple!!??
6 months emergency funds is not negotiable. DONT leave it in the bank cuz you will end up investing that money in some dumb crypto or stocks and your situation will get even worse than before. Best solution is to set aside the fund in cash probably in a safe or envelope.
What helps me (stay out of debt) is using a secured credit card (it limits the amount of credit you can put on the card), and using Rocket Money to track all of our spending (my wife and I). We'll have to get student loans soon since she's going to medical school, but this strategy will at least help us not acquire more debt in the future.
The problem on this is that it may sound easy but is really not that easy. When you have a familly there are things that you dont expect to pay and you cant calculate that and it makes throw off your calculations
Hi! I have created the plan and will be paying off 3 cards this month! Which will total $5,500 I am soooo excited to be free of credit card debt. I have also followed your advice on this video and will be cutting my car loan (9k) and student loans completely (7k) off before the year is over! I cannot wait to scream "I AM DEBT FREEEEEE!". I have been in debt all my 20's and struggled with money the whole way. 2/20 I entered my 30's with a financial plan and I thank you for your guidance. God bless you and your family. <3
Thank you ????
Emergency fund is key! And my bakery side hustle has allowed me to contribute an additional 200.00 to 500.00 a month paying off a debt. 🙂
Maybe a silly comment from an adult in this situation, but the graphics and animations you add help solidify these concepts and kinda gives the plan a positive outlook. Great video and I’m absolutely in the hole but will follow this
I was almost out of debt but emergency happened and I’m right back into debt ????only it feels worse now because now I’m paying my mom’s mortgage after her death and always make sure there money for that so now some of my payments get late and I never ever missed a payments it feels like the 2yrs of it has gotten worse and I’m trying the snowball and before she even passed away I even try adding more money every month but the credit card company will change my payments amount which now makes it harder to pay. I need to hit the lottery too pay everything off. I even try selling stuff didn’t make much money out of it it only made money to pay for groceries for the week.
My situation was shitty. I had my cards set up to pay off the total balance at end of month. I went on deployment made sure to not overspend. Was in hawaii, splurged a little but didn't go over what i could afford to pay. For some reason months later my balance jumps from say a few hundred to almost over 7000. I was so confused. I figured i just over spent. No, my balance when in hawaii wasnt updating the amount charged. So all of those charges that i had money for each month came down on me all at once. After that my auto pay settings were still set to pay off full balance and my bank has over draw protection so it simply turned off that auto pay feature and i was clueless as i was in an area after leaving hawaii with no internet access. I tried paying it off but i had to keep using my credit card just to get by. Then many many more things that require money came onto my plate and now its over 22,000. I never wanted a credit card but everyone kept telling me to get one and build my credit. I hate fkn credit cards with a passion.
credit card 101: always pay off your credit card in the next statement. Otherwise don't spend
I don't like auto payments
I used two 0% transfer cards and got out of debt in 9 months ?
The basic daily stuff helped me pay off my credit card….
Bring lunch to work.
The malls are no longer my pastime.
My hobby is now decluttering, deep cleaning, selling stuff in my house and DIY what I can.
Only buy what I NEED and don't buy right away. Leave it in the online basket.
Work overtime and it all went to the cc.
Written budget – I don't use a spreadsheet.
Nickle and dimed the credit card away – even £10 I would drop onto the cc.
In the end I only spend 2/3rds of my wage, the rest to the cc.
After 4.5 months I paid off £4800….and I have a very clean home ????
Are they paying back all the money they’ve stolen . What’s $10-30k debt comparatively. They want good people to struggle. They can eat that debt along with the rest of the money they’ve eaten.
What’s an example of a high yield savings account? Where do I find a good one?
Is snowball better than consolidating credit card debt?
4month plan to payoff 10k by end of april..not usre how..but paying it off and start fresh.
Wrong. I'm on my couch with cheese and onion crumbs ????????
Step 01: Actually have an income.
I don't know why people don't mention this part
My brain went from buffering to lightning speed.
Best solution come up with good idea to make more money.