Why Should I Get Out Of Debt?

[tormozat]

Dave ramsey is a preacher he will never do what he says. he did not attack his smallest debt and instead filed bankruptcy .

[allisonmdavis]

@tormozat I think that was before he knew what the heck to do. He clearly says he was a mess, declared bankruptcy and made huge mistakes. But he has learned from them and now teaches what he has learned.

[swagOnHaterzOut]

your so pretty

[m12ha3l]

Credit cards are the cause of the global economic down-turn ! You know where it is at :)

Oh and I love the iMac video :) getting mine soon ;)

[allisonmdavis]

@m12ha3l Thanks!

[kons0011]

Thanks for doing this video. I totally agree. I was one of those suckers in college that accepted every credit card offer I was given... Still paying stuff off seven years later. Lame!

[allisonmdavis]

@kons0011 Dont feel bad. You are not alone for sure. This country has a disease. We want what we do not have the ability to have. But, thankfully, I see people changing and learning the right way. A few at a time. Our children will be much better people for what we have had to go through. God Bless You.

[justins01]

Thank you :)

[justins01]

I don't think there is anything wrong to have Credit cards or to be in debt.

The problem doesn't come from the "debt". It's how well you can manage your money and financial.

So are you saying that people who have a decent job but doesn't have big saving don't deserve to buy a car or a house?

Do they have to save money for 30 years before they can buy a house?

[allisonmdavis]

Owing money puts a person in bondage. You are committed to the person or institution for much of your life (if you have a 30 year mortgage.) So the freedom to do many things is hampered by this commitment you made because you wanted stuff beyond what you could afford. If a person is smart, they can work hard, save money & buy a small house, then sell & buy a bigger one. You dont deserve to buy a house or car just because you have a decent job. You deserve a house or a car that you can afford.

[allisonmdavis]

Of course if not having that kind of freedom is what you want, then go ahead, it's your choice. But if you are married, this is the #1 reason for divorce and strife. And 2 people generally have different ideas about how to handle money. Im just giving you my experience and many others Ive read about and talked to.

[justins01]

@allisonmdavis

Sorry, English is not my first language. So you might not understand me clearly. But I really wanna discuss this with you because I really don't really agree that using only cash gonna help people have better quailty of living.....

[justins01]

@allisonmdavis

"wanted stuff beyond what you could afford"

that's a key right there. That what I was sayin. If we all know our limit , it doesn't matter if we have 10 credit cards.

I was saying that the problem doesn't come from the credit card company. The problem came from ourself that don't know the limit. And spending too much more that what we can pay off.

[allisonmdavis]

You are absolutely right. The problem is us. I was saying if a person has a "problem" in this area, (and so, so many do) then paying with cash can help. Thanks for the discussion :)

[dexarouskies]

What's a mortgage?

[allisonmdavis]

A death grip :) (If you are serious, it is a home loan.)

[34skyline]

I just got out of debt, it took some time but I don't owe anyone no money and today I'm living debt free

[allisonmdavis]

Absolutely awesome! Its all about freedom to do what you were put on earth to do. Make sure to keep it that way :)

[kaloamani]

thank you for these great teaching God bless you.

[allisonmdavis]

Thank you! And God Bless you too in all your endeavors.

[vinny2525]

My wife and I took the Dave Ramsey course about two years ago and paid off close to 21K. We sold our newer vehicles and paid off the credit card in the span of about 18 months. We were so excited! Now it's on to building up that emergency fund. :-)

[allisonmdavis]

Awesome! Perseverance pays off!

[bryjon4]

so true!