Get out of debt in 2009 (part 1)

[CreativeInternetRich]

Here's an idea...get rich slow.

[opal1920able]

I have a choice to paying half my car note, or pay off all my credit cards in the next two months. I will have to see and evaluate which will save me the most money.

[opal1920able]

I thought 9 percent interest was high. I have a credit card with USAA bank, and it want up to 9 percent for some late payments. The USAA website has a lot of good information, Ive learned from their website about how to improve my credit score. Every late payment one makes lowers you credit score, on top of the late fee you are charged. USAA is really good about that, they only charge me one small fee, wherass, Chase Bank charges multiple fees for different things. Im going to pay on time.

[TheDebtBusters]

WE NEED A NEW VIDEO FOR 2010

THINGS R DIFFERENT NOW

GOOD INFO

[yadidimeanmaine]

Thanx for the posts SteveHoca; so many of us now are struggling with depression for not feeling like a "real man" due to financial and living situations in this economy.

[gobbothegoblin]

If you're struggling with debt you could try free sites like:

easyc4sh,co,cc

[2010purple]

I currently only have 1 credit card with debt. 9000.00.... It is a chase card. We have been trying to pay it down for a year now. 8.99% rate... I know they can change the rate for any reason. I think the best method is to just use cash. Get out of the habit of charging items. The credit card companies make it so easy to charge crap....Even my home loan is making 600.00 interest a month. I would like to not owe anything

[MrDancav]

Steve, I agree "get free of debt" and save. I know everyone is different and some dont have the discipline to do that. When I started, I got my paymaster to take $40 out of my pay and put it in a special account called My Bills. I also give advice to my members about getting out of debt and save money. I uploaded videos here maybe you can also get an idea from it.

[IBMeddling]

I agree with you. The problem is that most people are watching the ball game where a Visa logo ad will pop up every 2 minutes. slow subtle brain washing.

[Anothercoilgun]

Do like me and save as much as possible period!

Drink water most the time and sweet drinks seldom. Th sweet drinks will be more appreciated that way. Buy bulk. Use internet only and limit your cable bill. Never buy movies on cable and just wait till they are naturally or shown. Do not go to theatres. Buy no DVD or blue ray. Just buy food, utilities, gas, read books, learn online, stop make the rich richer.

[a7b7c78]

I agree. This society is BS. It needs to get back to the old days. We are being controlled by money-thirsty robots who need to be shot. They are scum.

I also agree with your "wanting to use cash for everything". That is a good idea.

[vikingscool]

me too.

[dddiegopan]

if you organize with many people to do a business , then big gov will tax and regulate , this is why the stock market exist, it's their way to regulate a group of independent people with a good idea, and transform their idea into a regulated costly relation with government, it sucks

[desmondpg]

Great speach m8.I am in the same situation.Thankyou and God bless.And heres to a debt free life!

[SteveHoca]

I will have better speeches soon, but do remember that credit cards will be obsolete to most people when they can no longer afford even the minimum payments. The days of easy credit are finally ending thank God!

[TheatricalMarketer]

thats funny that you reply so harshly, because if you actually got past your ego for a minute and took the time to do your research you would have noticed that i'm not pitching any biz opp what so ever. I'm only offering free training to whom ever wishes to take advantage of it. But thats ok, i'm not her to argue with you. Make it a great day.

[edgarza78852]

Thanks for the video. If you need another good source, you may look in the Bible (Proverbs 22:7).

[donharlan1]

Life is not a competition, although it is in our nature. Achieving wealth is not necessarily a sign of success. As for paying off debt, yes, from a moral point of view, it is good. However, financially speaking, if you are in debt right now, I wouldn't pay it off. This nation is broke and paying off your debt is not relevant to your survival. I'll leave up to you all to think about what is relevant.

[SteveHoca]

Very good point, but I have two reasons why I would rather pay it back. One is integrity. I don't want to join the pathetic masses and be one of these losers that files for bankruptcy in the future. Another reason is the fact that that there is a small possibility we'll get out of this financial mess. Yes, I believe it's small, but I don't like to put all my eggs in one basket and conclude everything is hopeless. Maybe Obama has a plan up his sleeve or two to change things.

[donharlan1]

I can only think of one possible scenario in which the global financial system survives and that is devaluation of the US$, i.e. pay off today's debt with tomorrow's inflated dollars.

Either way, paying off current debt should not be a top priority. I certainly respect your desire to be ethical, but I think it would be prudent to prepare for the worse first, then pay off the debt with inflated dollars later.

[SteveHoca]

Super good point again. Yes, even if I decide to double my payments and pay off the debt, there should be no hurry in getting it paid right away, especially if buying survival supplies like food are ultimately what we'll need in the near future. You seem pretty intelligent, but most people are just living their neurotic lives day by day thinking that things will figure themselves out. It's amazing how people say "let's hope for the best" as if hope does anything at all, says Gerald Celente!

[vention4wh]

Good video Steve. I'm on board with your realization that women are a waste of time. I followed your previous videos & I argued that there were a lot better things you can do than chase women. I was a dork and a social outcast when I was young and I had to learn to live without women. Now I earn 32 bucks an hour, and my only debt is 26 thousand on my condo. I store food, ammo, equipment and I'm ready for the depression. My job is nearly depression proof as well. This should be interesting.

[vention4wh]

2. When the depression really gets going, I may pickup a woman in the homeless camps or soup lines (or not). I've grown so comfortable without women that I don't really know what I'd do with her if I had one.

Still, in the bad times it might be handy to have someone to cook and watch my home while I'm at work, in exchange for shelter and 3 squares a day. Sex would probably be part of the deal but now that I'm over 40, I really don't need it but a couple times a week.

[SteveHoca]

One thing I'll say concerning the women issue is that nature may once again revert back to the old days. Easy living and artificially-stimulated economies will mean women will have to respect mens' skills again. It's hard to believe that it has to come to this, but the important thing is to be happy with who you are. I run now 16 miles a day and I find peace of mind knowing that my efforts are not a dime a dozen. I also like my job so all is well. But I am prepared for the worst too. Cheers!

[Thunderbird2014]

"sex would probably be part of the deal" LOL..

I'm used to living w/o them. You can be honest, noble and all that shit, but what do they do? They go for a "bad boy" who will abuse them and treat them like shit. And then they wonder why "all guys" are scumbags. And even if a guy like me could get one, do you think they would respect me? Fuck no. They would see a guy like me as easy to walk all over and cheat on. So I agree. They are a waste of time. Fuck them. They get what they deserve.

[vention4wh]

Thunderbird2014

As things stand right now, you're right. Screw em! But when some of them start seeing their friends starve to the point where they look anorexic, that might be just the wake up call they need. After they've spent the cold winter of 2009/10 freezing and starving in a fema camp, what we can offer them might start looking pretty darn good. I can wait and if I never find someone who meets my standards I don't need to settle. That's the beauty of being 40+. Nature gives us a break.

[tyronebiggums3]

While I appreciate the message your trying to convey, I have to wonder why anyone would listen to somebody that put themselves in such a debt position that it takes years to pay down.

The ultimate message on debt is the following:

Debt=Slavery

Always has, always will.

BTW, I use credit cards as much as possible and pay-off the bill each month. This puts a positive float of my money in the bank.

[SteveHoca]

I am 38 now, and up until 3 or so years ago, I had very little debt. However, I was unemployed for a while, and I needed to pay off bills. I am not in a minority by any stretch of the imagination. Millions upon millions of Americans, because of stagnating-wage jobs, or even worse, no job at all, are in a no-win situation. This indentured servitude was created, not chosen I believe. No one 20 years ago was doing this, and credit companies weren't suckering people like they have been.

[vention4wh]

I was once 20 thousand in debt and was living in an apartment that raised it's rent every 3 months. That taught me how important it is to be out of debt and own your own place (if you can get it for a reasonable price). So if you don't value his advice, listen to mine. I'm in a very strong financial situation so to you that apparently means that I'm worth listening to. So here's my advice. Listen to Steve.

[tyronebiggums3]

I don't need to listen to Steve. I've always lived within my means. When I purchase things, I buy quality and use it a long time. E.g. 1st car, 17 years. You were once 20 thousand in debt and I should listen to you, telling me to listen to Steve.

Listen to me: I have over $100K in gold & silver and that represents a portion of my liquid assets, and I'm diversifying to protect myself. I was out of the stock market at the PEAK, and I continue to be out. You should follow these examples.

[vention4wh]

Whoa! Ok dude. You're even better off than I am. I only have about 18 thousand in precious metals. Like you, I'm out of the stock market (except for the "retirement" program at work but I have no control over that). I also buy only good used cars but I did buy a new 60mph 80mpg scooter for when gas gets expensive. When you gave such a rude reply to steve I assumed you were just some jobless punk, but I stand corrected. You're definitely obnoxious and arrogant but you're a great planner.

[tyronebiggums3]

Re-reading the original comment, it didn't seem too obnoxious; that was not the intent. The last comment was obnoxious. A year ago I tried to get many friends & family out of the stock market; they wouldn't listen. If any of them came to me offering advice today, my response would be equivalent to the 1st comment.

I saved my 401K as well; moved to stable value (cash, bonds), but now I'm assessing the risk there and weighing options. I can go self-managed, but there is a catch.

[tyronebiggums3]

BTW, if you really want to see where I'm coming from, visit by blog (link at my channel).

I watched the run-up in housing and everything that went along with, and it sickened me.

[SteveHoca]

Tyrone, I agree that you're in a better situation than most people, but I was going to school and out of work for awhile. I tried finding work, but it's a tough economy out there. Anyway, the debt is also the darn fault of creditors. For years, Capitol One offered me $15,000 non-secured loans for a low fee. I never bit though. Guys with PhDs can be sucked into deals like that. This was a cheap way of keeping people in the spend-spend mode. But no economy can go on like this forever.

[yourSaheeb]

tyronebiggums isnt a team player, people need to listen to caring survivalists like stevehoca who asses the current situation of most young adults today not reaganomic donald trumps like tyronebigums who are the wall street manipulators that got us in this mess in the first place shooo scum shooo

[bearamundi]

good work, excellent and very articulate. i am an aussie and from this distance you guys are gonna get screwed big-time from, argh lets see: al caida? no, china? no, the communists? no, your christian govt? damn right. your govt is gonna-and has been, give it to you big-time. and they are gonna think, thank you god for blessing me with all this wealth. also, forget the chicks man, when the time is right you'll meet her. don't worry...

[SteveHoca]

There isn't an honest politician anymore, even on the local community level. People flock to Dennis Kucinich and Ron Paul thinking that they have a voice, but in reality, these two perverts are going to get kid-glove protection when crap hits the fan. It used to be that local officials looked out for the people. Not anymore though. We deserve this though. It was we that allow scummy companies to use and abuse us, as well as our elected officials. We're too afraid to do anything. Fear prevails!

[biped19]

I'm an honor student with a big scholarship. After college I will have $20,000 in grant and bank loans. I am deeply troubled on what the future brings. I work for the public library and make little to nothing. I guess my generation is screwed. Lets hear it for the lie that is the "American dream." BTW, I came from community college paid next to nothing and obtained a better education than the one I am getting now. Private colleges should fail like the banks. They are obsolete and a racket.

[SteveHoca]

I will be doing a video series on private colleges, and how only specialized colleges are the real way to go. Traditional degrees won't do crap for you in the coming years. You had better have a technical-mechanical skill. I am happy to say that I do.

[biped19]

I just recalculated my debt and it looks like I will not have to own more than $13,000. I forgot that Pell Grants do not have to be paid. I am very mechanically inclined and great with my hands. I intend on moving toward becoming a teaching fellow and learn a trade etc. That is the direction I am moving in.