I have been trying to talk my wife into doing this process for like 3 years.This January she finally agreed to buy into it and for the first time in our 13 year marriage we sat down together and did a budget together for the first time. It took us 2 weeks to save up our $1000 emergency fund. Now we’re on to the debt snowball. We are fired up.

I'm on my last debt. Can't wait to get done.

We should be debt free by the end of the year 😍😍😍

I'm British(Welsh), but without fail, I watch Rachel, Dave and Chris Hogan every day. These people have changed my life. Will complete BS2 by July.

I've got $1500 on my students then I'm done. Thank you and Dave for the motivation!

I did the debt avalanche and paid off my student loans with money from my savings and then paid off my credit card with savings again and now i am debt free and working on saving emergency fund and investing and saving towards other goals.Awesome feeling

I graduated debt free! Two months ago! I worked two jobs and I went crazy. I was not going to have student loans. Thanks to Dave!

I've crossed off 3 things on my debt snowball and I just started! I saved $750 for an emergency fund, but I only make $10,000 a year so that's good for me

I paid off (4) student loans yesterday !!! I plan on paying off 5 more this year. Debt free in 3.5 yrs , all student loans 😩 I love these videos and podcast for motivation!!

We just heard baby step 2 tonight at FPU. Guys. My husband said he wants to sell and TRUCK and POOL TABLE!!!!!! 🤯 his 2 “babies”. I can’t believe after years of talking about Dave (4 letter word) and begging him to do fpu with me that he is like 100% on fire with this and we’ve only been to 2 classes. 😭😭😭 I’m so freakin excited.

Just became debt free. On baby step three. Looking forward is awesome! I have 2k and have 13k to go for my emergency fund. Let’s do this!!!!

I just pay off my 2019 vehicle 11 months did it, work 2 jobs to pay off, working on step 3 next, all 17 credit cards pay off

We have paid off $60k in 4 years. We are down to $45k. Cant wait for the DEBT FREE SCREAM!!! Even my 8 year old is observant of the debt because we have a debt coloring page on our fridge for everyone to see. Thank you for your encouragement and enthusiasm for getting free. I took Dave Ramsey's Financial Peace University as a single mom 10 years ago making scraps for wages and was able to pay every debt off. Our plan is to be debt free in 2 years but hopefully sooner. God bless

The thing people don't really tell you is that if you work more to pay off cc debt, what happens is that the minimum monthly payment you were making, now just sits in your account waiting. Then you pay off a second cc and another minimum payment sits there the next month. And if you pay the cards that are on high interest, or are about to become that, you save on interest payments. Then you might close a card and save an annual fee. So if your income stays the same, you're getting this free tailwind from payments you no longer have to make. The point is that the hardest part of the journey to being debt free is the start - as time goes on, there's more available funds than before being applied to a smaller and smaller debt. That's why they call it a snowball because it gathers speed simply from increasing in mass as a function of time.

So happy to say I've made it to baby step 4; I started investing 15% into my Roth & I'm currently throwing chunks of principle payments toward my house since I didn't have the recommended 20% for a down payment... My goal for the year is to maintain that retirement saving & to reach that 20% equity so I can eliminate PMI on my house by the end of the year 🔥 An ambitious goal, but I would rather aim high!

Self Control and Patience are so key. It’s a marathon, not a sprint. I always have to keep reminding myself of this daily. Keep chiseling away at it with focused intensity.

That poor man God bless him and his family.. so happy he didn’t have the stress of money to worry about

I’ll be debt free in 2 months thanks you Rachel can’t wait for baby step 3

I am another viewer from the UK - I really love all your advice. I have always tried to be frugal but as a single mum, I realised after watching Rachel and Dave that I am actually in a rut and living too much paycheck to paycheck, when I need to get started on growing my income and budgeting even better than I am right now. Thanks for your great advice and philosophy - I love it!

I love and so appreciate the real-ness of this couple. We hide the fact that we fight about money with our spouse because oh no we don't look like we love each other- look, you can love each other and be a team AND fight about money because fighting about money- then not talking about money to avoid the fight about money- is a major part of the problem. Keep up the good work guys!

I'm so excited for this new debt free life! I took FPU 3 months ago and so far paid off 24,500 in debt including paying off my student loans and second mortgage. It feels so great knowing there is light at the end of the tunnel!! 35,700 more to go and then gonna knock out the mortgage! I'll be completely debt free in the next 5 years!! I'm so excited!💜

My wife and I are working this program. We are very focused and working our butts off. These kind of videos keep me going. I'm very overwhelmed but she is a rock. Thank you for what you do. Moving forward 👍

I paid my car off early last year, 2 years early on the loan. This year I'm building my bank account back up to 6 months of expenses. My plan next year is to double up my house payments and get that paid off by the end of 2021 and I'll be done with debt.

Two generations ago the costs of studying were a quarter of what they are now (adjusted dolllars), and companies didn’t insist on having a piece of paper the way they do today.

As a member of AA, this “stay in the middle of the herd” mentality is now really relatable to my student debt. But you helped remind me my Higher Power has kept me sober one day at a time, and can carry me out of this debt. Wow, this episode was incredible!

My husband and I are just starting the baby steps, literally, this month is our first month sitting down and having a budget committee meeting. Most of our debt is medical debt, but I’m hopeful that after the next few years, we will be able to have a life with no debt, and be on our way to financial freedom by saving what we should have been saving before❤️

Totally just crossing off things one by one! Paid off: credit cards, new sofas, our Odyssey early, the student loans, the car, braces and child support. Paid cash for all bedroom sets, a truck, a fridge, washer, dryer. This year paying off: mortgage, a new car early, paying for a new roof cash. It feels great to show and include our children in our financial goals along the way. I always show our kids tips and strategies.

Soooo awesome!! Congratulations!! I am almost debt free as well

Dave always has the best analogies!

He said - part of that peace is having structure. I believe that.

14:04 i keep replaying this point because the music is so beautiful.

What a blessed couple. They're going to be very successful!

I enjoy your dad show each week on the radio. I work overnight, but your dad show come on the early morning time at 12am on Monday’s and 1am on tuesdays. Been listen to it since the end 2017. As of today I come join your channel.

Can’t wait to finish baby step 2 at the end of this year. Thank you

Rachel, thank you! This video was the last motivation I needed to get back on track👍🏽🙏🏽. I’ve no money to pay you but THANK YOU!!!

On baby steps two. These stories keep me motivated.

I'm so happy to see u both. Recho and Dave Ramsay. I'm lesson you every single day

This family is definitely a blessing. This is really helping me in getting out of debts.

I love your dad he is one qho got me started on thinking differently about my future and how I live financially

Wife and I finally had enough of having debt and never feeling like we can do what we want with our lives, we decided to try the debt snowball method and we’ll be done with everything by the end of the year. Maybe sooner. The point is, right now is a bit of a sacrifice for things we love doing at home and now we just put all our money into our debt and pretty soon as long as we stay disciplined we will never have debt again.

We will have baby step done today and we are starting the debt snowball like a gazelle!

Thos channel should be more recognized! It's amazing what you are doing here. Congratulations

You both are so great! Thank you for all your tips!

Dave Ransey should be given a Nobel prize for his contribution to debt eradication and financial wisdom I know his reward is in heaven but I pray he also reaps it on earth over and over again.

We have debt we need to pay off. We almost left today and bought lunch and went to an arcade (probably on a credit card) instead I’m sitting here with a pb&j and that 1 decision made me feel so much better. Thanks for the all the help and advice, we have to change the way we think about spending/saving. It’s tough but there will be much to gain after we buckle down ❤️

Thank you! Your approach makes a lot of sense and is very empathic. Much appreciate your kind delivery.

What a beautiful couple, like the way they are able to articulate the steps they took is amazing

You and your dad are so awesome.

My wife and I will be coordinating Financial Peace University here soon! We are 3 weeks out from being debt free! We want to never borrow again, even on a house! We will be buying our first house cash!

FROM INSTANT PROFIT ITS NEVER TOO LATE TO START PREPARING YOURSELF FOR A BETTER AND MORE FINNCIALLY SAFE FUTURE , THE TIME TO BEGIN IS NOW , START SOMEWHERE START ANYWHERE

Onto our second and last debt!! Finished paying off my husband's student loans (pretty quickly). We are really serious now with this process! Budget looks great and we increased the payments on my car. We plan to be debt free - except for the mortgage - in 11 months. SO EXCITING! Making life good for our soon to be 1-year-old son :)

sooo good.. thanks Rachel and Dave!

Repeat watching of the videos helps keep up the motivation. Enjoy the inspiration too.

Thank you so much for this video, Instant profit truly helps creators and anyone looking to get paid in this economy. Transparency = education 👏🏻

Getting out of Debt and taking responsibility is really a great point to freedom. Knowing the person looking in the mirror is totally responsible for decision debt. We have been debt free for 25 years. Got married with $65 but no mortgage, no consumer or college debt. We lived like rats for 2 years before getting married, it was awful. After we built the small house -by hand. I told him I wouldn't get married unless we took the mortgage payment and invested. With 2 simple construction degrees, he will retire early to live off 2.68% interest at 49-50. (We did this on one income, I stayed home with our 2 kids.) Rachel, Thank you for your dedication toward a debt free channel.

Loved hearing this story!

I've been carrying credit card debt for 12 years.🤨 I finally got fed up and tired of it! Transferd all my debt to 0% cards and made a commitment to be debt free by 6/2021. I'm making double payments on one card while paying the minimum +10 extra on the other. It truly is liberating to see my debt going down!👌😊 PS just discovered your channel. Couldn't sleep so I thought I'd watch some KZfaq and came across your channel. I watch your dad's channel.😊

Working on it!

Proud “avalanche” here. Although I get your point that most need a bit of snowball to get going, no need to put down us math smart to make your point. :) thanks

Wow ill be honest. I followed u and dave for years but never saw how much u guys look like each other haha! Love this segment

I will be debt free this year. Thank you helping me how to get out of it.

The Debt Snowball really works!!!! It worked for me!!!

😂 lol "good for me for thinking about going on a diet" so true!

Hi Rachel, I love your channel, I am just getting started and I hope I do well. I am really nervous that I will fail at this and never get out of debt.

I will never understand the American love for credit cards. Where I live - Belgium - debit cards are the norm and accepted everywhere. Credit cards are not accepted as much, and the norm is that the balance is paid in full beginning of the next month. I have credit cards myself and have never gotten in trouble. I also had to specifically make a request for them at my banks. Never ever did I get an offer for a card. The kind of credit people get in trouble with are car loans, mortgages and store credits.

1st time hearing about the snow ball strategy of paying off debt. The best strategy ever. I am putting it into practice rite now. Thank you Rachel !!!

Car paid off last year, mint condition, 59,900 miles, 2011 kia....Just paid off walmart card 1 week ago, cut up gone.....1small card, cut up/closed.will be .paid in july.......1 last card paid, closed, cut up in December.....then 0.00 debt..while .building emergency fund...retirement......Results...great sleep, peace, calm, being prepared!

I paid already thousands of $$ in debt. Now I'm 17 k left. Gonna pay that in 1.5 years or less

The Dave Ramsey show is my like minded group. I listen to him everyday and just started watching your videos. I'd love to take FPU class but am on BS 2 and don't have room for it in my budget. Is it ok to wait till you're out of debt to take the class? I started in July 2018 and January 2019 had to have a pacemaker, so now on top of my credit cards I have a huge medical bill. I'm 72 years old and only on social security and small pension.

Rachel and Dave, push the budget more in your videos. They had no personal finance training in school at any education level when I went through the system. I understand they do teach personal finance classes in the high schools today. I created a budget and found out how much extra I can apply to my debt. As I shared knowledge of your plan with coworkers and friends, I found they hit me with these two statements: 1. "I can't make all the payment amounts due now. I do not have money to pay extra." and 2. "I do not have any extra money left at the end of the month to make extra payments. My budget is worked out to the penny." To the first statement, I say to them to make a budget, pay attention to all the extra side spending like tobacco products, coffees and eating out. Cut out enough to get to a zero balance budget. Once at a zero balance budget, make your minimum payments on all debts but as soon as one credit card payment drops even $1.00, start with that money on your debt snowball. As each card drops in payment amount, transfer that drop amount to the smallest balance payment but keep the smallest card payment at the original payment amount you started at - do not move that payment drop money away. Within a year you most likely will have an extra $5 to $10 in extra payments to the smallest balance. To statement 2, I say the same thing about moving the money from a payment drop to the lowest balance card. That takes away their excuse while teaching them how to manipulate their budget to achieve their goal when it seems there is nothing to work with.

Thank you for the video, im on baby step 2. got one debt to pay off and in months im done.... but its been hard, had to go back to baby step 1, three times....

I keep hearing Dave say "your either doing this our your not"

Great insights 🔥

What if all my debt except for car payment and student loans is in collections or charged off? Do I focus on car payment and student loans first and attack the other debt after?

Bring the couple back for an update!

I am a true believer in the Debt Snowball method it really works

1st time ever actually seeing him. Looks completely different from what I imagined with his voice.

Anyone else think of Ross from Friends when Micah started talking?

I paid of credit cards and now using money to fix up rental house. Baby steps been being used for decades minimally since 1992 without the title.

I have a bunch of stuff in collections that has been in default for years. How do I go about paying these off? Do I add them into my debt snowball (where I'm currently paying minimums and actively paying every month) or do I attack these after current debts are paid off?

Rachel...Where did you purchase that chair you are sitting on, I will really like to purchase one.?

This was an excellent show and the information is very insightful. I made one of my biggest financial mistakes twenty years ago when I decided to transfer to an out-of-state university at the beginning of my sophomore year. I signed up for student loans and had virtually no concept of the terms I was committing to (I have no one to blame but myself). After I graduated, I went through multiple forbearance periods and even ignored my minimum payment out of frustration. My current 'income-based' plan doesn't even address the interest rate that is accruing on the overall balance. DO THE MATH FOLKS and don't get suckered into terms you don't understand. Please pray and intercede that the Lord will help me overcome this mountain in my life in Jesus name!

Amen, I believe in this I am doing this now, but I hate paying banks so I do no interest credit cards and then I am throwing everything at it.

My son found it unbelievable that grocery stores take checks.... He is 25! Crazy.

Lets face, there is an unspoken baby step 0: Get a second job. Job 1 covers your everyday costs, and minimum payments. Job 2 covers savings goals aka, getting out of debt. The more you earn, and the less you spend, the faster you get out of debt.

So if the only date I have is sitting in collections then I take the smallest debt, pay it off and then move onto the next smallest debt? Because I don’t have payments that I can pay off then roll it into other debts?

Do you have a video that talks about someone that didn’t have a lot of debt and doesn’t really have a lot of problems with knowing where the money is going or sending on frivolous things. Mostly didn’t know how to make money and lives in a high cost of living area? I would love to hear a story like this.

You forgot to mention the hardest step in baby step 2; STOP using your credit cards. It is kind of a prerequisite. It is why you take pre-algebra before moving on to real algebra. When people see their CC balances going down they think their buying power is going up. Saving 1000$ is great buy I always think it should be higher, at least 2500 in baby step 1. This is because Murphy usually charges more than 1000$ most of the time when he comes around.

I'm on baby step 2 and my life is being changed!!

What is a the difference between whole life and term insurance?

When will the everydollar app be available in Europe

I want a Rachel Cruz coffee mug!

Can you do this plan if you have some judgments against you

Would the debt avalanche be o.k. If we don’t have an issue with being motivated to pay off debt?

It’s so hard to snowball, when you live paycheck to paycheck

Looks just like dad! Side by side.

You look adorable Rachel! With your bun in the oven!!❤️❤️💕❤️

One more month and we’re debt free! Love sharing your videos with everyone I know 😁 btw you look so beautiful pregnant! 🥰

We don’t owe a home and I have insurance through my job. Do you still recommend term life for non-homeowners?

Bought a used van and car cash in last 6 months! Paid off 30k plus saved $10k towards debt elimination and my neice has over $1000 in savings account we started for her! We took credit card ofc Amazon and really reduced our monthly balance! Trying reduce eating out to save more eliminate more debt plus got complaints with loan servicer. We paid off our house in cash a few years ago when we got taxes! Once we get this return we’ll pay off more debt. Snowball builds confidence! We paid cash for our wedding and honeymoon 6 years ago! Only 53000 tip debt free it’s all student loans.