The FASTEST Way To Pay Off DEBT (On A Low Income)

Рет қаралды 182,293

4 жыл бұрын

It’s time to talk about a four-letter word that many people will avoid discussing at all costs: DEBT.
Including home mortgages, Americans owe more than $14 trillion in loans. The average student graduates college with over $30,000 in student loans.
In this video, I will show you two strategies for paying off debt as fast as possible.
The first method is known as the Debt Avalanche strategy.
The second method described in this video is what we call the Debt Snowball strategy.
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Пікірлер: 410

@NateOBrien 4 жыл бұрын

Thanks for supporting the channel! Don't forget to drop a like and subscribe for more videos! Add me on Instagram: @nateobrienn

@formicaria4304 4 жыл бұрын

Or Take A Loan With Less Interest To Pay Of The Interest. Net Net Less Pay :) Then You Crush That Remaining Dept.

@formicaria4304 4 жыл бұрын

Or Save Money :D

@tialopez7306 4 жыл бұрын

you're so hot...are you single? str8?

@KeithJones31 4 жыл бұрын

Smashed the like button for you Nate.

@attaulhaye 4 жыл бұрын

hi nate, why you remove all of your video about droppshipping?

@nomipyar 4 жыл бұрын

I said this on another video, and I stand by it -- I love the fact that you aren't yelling or being overly aggressive in your delivery. I find a lot of financial videos to be too abrasive to watch -- because I feel like I am being belittled due to my lack of knowledge and financial savviness. It's almost like sitting in a financial literacy class. You should consider being a college professor!

@letsparchmentitupyo7566 4 жыл бұрын

well said!!

@Irishjay-gu5pb 4 жыл бұрын

yes!!! agreed!!! He's very calm and collected, which makes it that much easier to actually hear what he's saying and understand it.

@samsmusichub 2 жыл бұрын

And in general everyone on KZfaq or social media talks so loudly just to get your attention. It's kinda weird.

@kroline8 4 жыл бұрын

One thing about debt consolidation: if done through a loan, make sure you won't start using the credit cards again because you end up owing 2/3x as much as before. I think this only works for people with enough self-control

@samanthacollingwood8513 4 жыл бұрын

Learned that the hard way transferred one credit card amount to another with a lower interest rate and then ended up racking up the one that I just move the balance from. When from $3,000 in debt to $20,000 in less then a year with a few bad decisions I made with good intentions.

@kroline8 4 жыл бұрын

@@samanthacollingwood8513 I know that feeling. Sometimes you don't even know how much you have spent until it reflects in the balance

@samanthacollingwood8513 4 жыл бұрын

Khareetoh all the time! Look at the balance and think there’s no way I spent that much. I often add it up myself and see the total grow.

@WingoTribe704 2 жыл бұрын

@@samanthacollingwood8513 how did u tackle it? I’m considering transferring all my credit card debt to my bank and just paying it off in one place. I believe I’m 34k in now! I just paid off 15k in June 2021 😩 I lost my house and my wife. 820 credit score at the time and I just went haywire. Hotels, eating out, gas, some clothes here and there and whenever I would have my kids I would take them places to keep their minds off of what me and their mother was going thru. Along with an alcohol addiction. I cut out the booze! That was the number issue after all because it was a gateway to more bad decisions

@samsmusichub 2 жыл бұрын

True!

@Bigfoot_With_Internet_Access 4 жыл бұрын

What if we just like... Push the debt somewhere else

@NateOBrien 4 жыл бұрын

200 level IQ

@JK-Visions 4 жыл бұрын

We push back eventually:p

@twincherry4958 4 жыл бұрын

I can supply the manpower for that 😁

@fredericksharon6908 3 жыл бұрын

Creed braton doesn't pay his debt, he transfers it to himself 😊

@trappedcat3615 4 жыл бұрын

"I just print more money" -Federal Reserve

@NateOBrien 4 жыл бұрын

pretty much

@Irishjay-gu5pb 4 жыл бұрын

yep, if only we could get ourselves one of those printing presses!! ;)

@startenderspacebar 2 жыл бұрын

@@Irishjay-gu5pb wait that’s illegal

@JohnnyDeppFan1433 4 жыл бұрын

The advice I was given growing up is "Work hard now, play later" and that holds true. Work hard on paying off your debts, it will save you potentially thousands in interest.

@ZacharyLaid 4 жыл бұрын

You want to be the one that is on the other side of debt, making the interest and getting paid, not the other way around, so the sooner you pay off your own debts the sooner you can focus on investing the extra money to work for you.

@NateOBrien 4 жыл бұрын

Right on!

@samia7756 4 жыл бұрын

Its better not to be on either side of the debt, the entire financial system is corrupt. If you are making interest, that means some one else is falling deeper in debt. Taking loan should not be so easy, I know people are able to take out loan left and right here in Canada, making people work like slave rest of their life to pay it back.

@BackroadMoney 4 жыл бұрын

Great video! You may have said it and I just didn't hear it, when you pay off one debt using either method that monthly payment get rolled over into the next debt. For example if you were paying 500 on your car loan and pay it off, that payment gets added to the next minimum payment so now you are paying 650 to your credit card ot whatever it may be.

@jedistreamz4542 4 жыл бұрын

@@BackroadMoney snowball method

@BrendaTrott 3 жыл бұрын

Dude, I'm watching you thinking the whole time "Is he even old enough to own a credit card?" You present quite well, and I'm one of the lucky ones! I was able to eliminate over $20k in cc and medical debt in only 9 months. It had nothing to do with budgets and everything to do with the hidden agenda in my own subconscious mind.

@eannsingh 4 жыл бұрын

This is why I stay as far as I can possibly from debt at all costs. I’d rather penny pinch than go in debt

@zahrakazemzadeh6103 Жыл бұрын

that was exactly what i needed to hear! thanks a million

@ErickaWilliamsCC 4 жыл бұрын

So many people struggle with debt, thanks for doing this video.

@omertalha7442 Жыл бұрын

Credit scores are just a form of federal control, so if you want to continue living a good life? it’s important to have a high score. My house and vehicles are paid off, I have one Visa card for all purchases, which gives me air miles, and I pay it off monthly, but my score bounces between 800 and 820 without changing any of my patterns, so it’s manipulated for some reason. COGNITIVEHACKS made it stay at that range and getting it up

@dewmasterthailand2869 4 жыл бұрын

I love your perspective especially minimal thing

@wilsonsantiago8122 4 жыл бұрын

I keep watching your videos because I am an older person with lots of debt you explain things so simply which helps me immensely. Thank you Nate.

@LetsTalkFinanceswithTrayTruitt 3 жыл бұрын

Wilson, if I got out of debt, you can def do it as well. Keep at it.

@CandiceMarieinspires 4 жыл бұрын

Great video Nate thanks for the tips! When I was paying off my 47,000 worth of debt it was important for me to find ways to make extra money to pay off my debt faster because paying the minimum balance wasn't going to cut it.

@positive_vibes_2427 4 жыл бұрын

Your tips encouraged me to ask my credit provider questions regarding interest rates on both loans I owe. I have a high credit score and have been paying balances on time, but only covering the minimum payment due. The response I got from them and your tips on paying the loan with highest interest rates were huge. THANK YOU SO MUCH!

@drewesquivias 4 жыл бұрын

I was waiting on this video 💪🏻

@NateOBrien 4 жыл бұрын

It's here!

@MM-jx1ov 4 жыл бұрын

Nate O'Brien 😂👍

@multidimensionalnena8404 4 жыл бұрын

omg i need to pay off my debt; this sounds like me I just lost my job a couple days ago and I have to pay for school which starts next month... I'm waiting for my miracle!!!

@chicnoir29 4 жыл бұрын

Sorry you lost your job. ❤️

@multidimensionalnena8404 4 жыл бұрын

@@chicnoir29 thanks I understand that's life; in the meantime ill be looking and working towards making videos :D

@chicnoir29 4 жыл бұрын

Well I’m going to subscribe to your channel and watch videos to help out.

@anosjc 4 жыл бұрын

Me too girl. I was laid off in November and I have to pay my home loan...

@july713x3 3 жыл бұрын

Sorry.

@maryromeroleal2921 4 жыл бұрын

excelente, gracias desde Bogota.

@stepheniemattews1818 2 жыл бұрын

Good jobs pay your bills 🌐 businesses make you rich 🏧 But it's your investments that make you wealthy✈️

@bobbyjames5414 2 жыл бұрын

People are ignorant of profitability in bitcoin investment and that has been their major issue limiting their investment

@stevekings9460 2 жыл бұрын

@@bobbyjames5414 If you can make one dollar, You can make a million more. Grow your wealth by investing in bitcoin today.

@lifelanytv7906 4 жыл бұрын

Thank you so much your videos, 👍🏻 end of this month is my final payment for student loans 😌

@elementnature3966 3 жыл бұрын

Thank you very much for sharing ! I feel myself better after watching this video because I have just some thousands that I want to give back to a family member who helped me when I was in need, but don't have % on it or even deadline to give back what is much better than the situation you are describing in your exemples. I guess the best solution is really to increase my income and to keep my costs on the same level as I have now.

@ryleemadison912 4 жыл бұрын

That opening statement about the economy definitely came true..

@WillReil 4 жыл бұрын

Debt on assets that don't make you money is bad debt. Pay off the high-interest debt and you will save yourself a fortune!

@NateOBrien 4 жыл бұрын

Consumer debts kill!

@Jill.McGlothlin42 4 жыл бұрын

I am 39 and I went to college mainly for personal reasons. The reason was deep and it was to prove something to myself. And now that I’m $64 thousand in debit I regret my decision. 😞 I can’t begin how much I love your videos. Thank you so much please don’t stop. I don’t have credit card thank God, but I do have a car loan and student loan. I just need to get better at my budget.

@melvinfrancisco1586 4 жыл бұрын

I follow u from Domican Republic and i like your videos

@darcyhuff9461 Жыл бұрын

It's insane watching this now at the 2:00 mark where Nate discusses how quickly the economy can change. It was only a month later that the first Covid case was found in the US.

@MouridEnglish Жыл бұрын

Thank you so much. Really interesting. Blessings.

@gavinsandlin27 2 жыл бұрын

Man! Your delivery is amazing. You are telling and not yelling. I have some debt but I don't feel more stressed after watching your videos. Some of these financial advisors make me feel worse after watching. Good job my friend thank you

@RealLifeMoney 4 жыл бұрын

Great explanation Nate. I’m a believer in the debt snowball honestly. As human beings we are very emotionally and behavioral. With that being true that usually throws any logic out the window. To start small and grow while watching it work is probably more motivating in my eyes 😁👍

@darkstar9844 4 жыл бұрын

One method that's interesting is sort of an in between, you start on the lowest payment so you can see your number of payments drop and feel the momentum, and once the first one's paid off and you see a light at the end of the tunnel you switch over to avalanche. I've heard it called blizzard but it might be a better approach for the more emotional crowd.

@Anangelfromabove 2 жыл бұрын

Debt Snowball

@qmakesithappen 4 жыл бұрын

Such a relevant video, I hope everyone who finds this information utilizes it and share the knowledge to someone else. Financial literacy is sooo important!

@LeahElizabeth 4 жыл бұрын

This video was timed perfectly after Black Friday 😂

@NateOBrien 4 жыл бұрын

Black friday makes me sad.. so many people spending thousands on items that they don't need

@LeahElizabeth 4 жыл бұрын

Nate O'Brien they need to learn MINIMALISM 🤓

@admiralmurat2777 4 жыл бұрын

Minimalism for my family. 21 about to buy a nice brink ranch. Will own 100% in two years

@thatwhiteguy5541 4 жыл бұрын

@@LeahElizabeth I'm down with ramen noodles too. We should get married!

@LeahElizabeth 4 жыл бұрын

That white Guy haha lets go 😂😊👌🏻

@samsmusichub 2 жыл бұрын

Great vid, I always got those 2 payoff strategies confused but now I've got them!

@EnlightenedDrummer 2 жыл бұрын

Thanks for this video

@scottglasgowmusic 4 жыл бұрын

No shortcuts. Just discipline with money.

@MagneticUnicornVlogs 2 жыл бұрын

Thank you for these tips!!

@walkerblizzard 4 жыл бұрын

For those affected by COVID19 and any of you who has lost employment, I hope you all bounce back when it is all over. I find myself thinking of my bad habits before the pandemic and watching videos like this are helping me create a plan for the future. Great video and everyone stay well!

@rugpull500 2 жыл бұрын

Thanks brother my journey starts now !

@amill1563 4 жыл бұрын

Thanks for the free content! I think I prefer the snowball and considering adding another job.

@NateOBrien 4 жыл бұрын

Snowball can be very effective!

@venkatachengalvala4289 2 жыл бұрын

I like your honesty.

@simoneharris6470 4 жыл бұрын

Always good content. :)

@musikhamster01 4 жыл бұрын

I'm really happy that up until today, I don't have any student loans and might never get some! Really good video with good strategies on how to actually pay back!

@ladymallowyt 2 жыл бұрын

Nate: the economy is doing well Me watching this in 2021: oh no

@randomdude6503 Жыл бұрын

I think you literally just saved my life Leo, I’ve been struggling to find a way out. I’m currently an N.A waiting to get certified because of covid and stuff but I support myself and my grandma. I don’t have anyone to turn to for help, I’ve been trying to save but I can’t because of bills and renting my apartment and everything. But this, literally helped me look to a brighter future. My grandma is crippled so she cannot do work or anything. Most people have parents to turn to but I don’t talk to my mom or dad. This literally helped me so much because since i met COGNITIVEHACKS the real issue i have about debt was solve in some weeks am sure before Feb of my birthday i will be home owner.

@Irishjay-gu5pb 4 жыл бұрын

Someone else commented on this and I believe it's worth repeating, THANK YOU for not yelling and being aggressive as you explain this!! It's so much easier to hear your information and remember it when you're calm and confident while speaking.

@TheRoppstarReport 3 жыл бұрын

Great video very helpful

@kankerdoodleb9149 4 жыл бұрын

don't forget to create an emergency fund so you don't end up acquiring more debt in the future...

@BackroadMoney 4 жыл бұрын

100% agree! Even if is small at first, usually it isn't large purchases that kill us. Death by a 1000 cuts! Then we feel defeated because we used our credit card, it's a vicious cycle similar to dieting. When you eat something then feel like you already screwed up, so then there goes the whole day.

@reecehopkins9788 2 жыл бұрын

What a nice video Nate, many are going through emotional stress due to calls from there creditors, I'm going to share how I got off college debt and paid off the morgage on my grandma house 🏠 where I currently live with my wife and kids

@FinancialShinanigan 4 жыл бұрын

Credit is just too easy to get. Couple that with lack of impulse control, here we are.

@justdreaming3869 4 жыл бұрын

Watching this video now during this Corona Virus mess sure hits different!! 😣

@Masrex 4 жыл бұрын

I’ve found the avalanche method way more effective but snowball the first few months def helped me get in the groove of things

@NateOBrien 4 жыл бұрын

I agree but both methods work

@CandiceMarieinspires 4 жыл бұрын

Yes getting a groove that works for you is important. The avalanche method deff saves you more in the long run, but I personally used the debt snowball to create those small wins to keep me going.

@eymenkayra9843 Жыл бұрын

continuously helped me like you have. I thank God for your presence in my life. Thanks a lot!!!

@paulinehillson9059 4 жыл бұрын

I on the process of paying of debt using the snowball effect. Also it should go without saying that you shouldn’t be using your credit cards at all if your paying off debt. Great video!!!

@LetsTalkFinanceswithTrayTruitt 3 жыл бұрын

I could not agree with you more. The debt snowball is a great method to payoff debt. I utilized it myself.

@coreyward6937 4 жыл бұрын

You said it and then boom he coronavirus happens I love your videos man they have been helping me a lot your awesome bro

@Quest4PureLogic Жыл бұрын

"Snowball" method plus discipline of pumping back payment amount(s) made to last debt(s) paid. i.e payment amounts for debt A, B, C are 100 (minimum), 200 (minimum), 300 (Minimum+extra), respectively and C debt had the smallest balance which you just paid off. You would now apply the 300 to next smallest balance debt. Let's say B was next, then B would receive 200+300 as its payment until B is paid off. For A, you would pay 100+200+300. As you can see how each debt progressively gets paid down but require discipline.

@santiagotoro3388 4 жыл бұрын

Great video! I prefer to pay the small debts first, sometimes you take to long paying the big debt and that causing pretty bad feelings, like if you don't advance :(

@verac6731 Жыл бұрын

A great video.

@M_Ehlers 4 жыл бұрын

Great video. But, an explanation on fixed interest rates vs simple interest. That mortgage at 4% is not 4%. Simple interest aka credit cards you actually pay a lot less interest because it’s a daily balance and not fix over a year. Most people look at 4% mortgage rates and think it’s low yet over the term of the low you pay close to amount you borrowed in interest. Good thing about mortgage debt is you can move out and rent it out. Credit card debt no so much. Keep it coming!

@eachoneteachone8947 4 жыл бұрын

Dope man. Yeah I’m showing everyone it’s possible to pay off massive student loan debt in a year or less using IM

@wtfbbqpwnin Жыл бұрын

This video aged like fine wine, well done lad.

@GenExDividendInvestor 4 жыл бұрын

Spend less. Invest more. Anything that sounds too good to be true, is.

@IncomeBoost42 4 жыл бұрын

As they say, Debt is a double edged sword. It can be a powerful when used smartly or very destructive when not managed properly. Those who achieved financial success often managed to leverage debt in their favour.

@NateOBrien 4 жыл бұрын

Very true

@muratcelik7730 Жыл бұрын

At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month,It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Graham, fyi my emergency fund is also a done deal! by COGNITIVEHACKS lol, i didn't made it myself

@marthacarter3179 4 жыл бұрын

Nate can you make a video about paying your home early

@TigerViolin Жыл бұрын

Hey Nate, i know this video is over 3 years old, but I’ve got a question. Regarding the table at timestamp 6:24, i know that this is supposed to be a sample scenario but wouldn’t the presented scenario be better handled with the snowball method initially? My understanding of APR is that the APR of the account is divided into twelve (for monthly apr) and that quotient is multiplied by the balance at the end of the month for the charged interest. With these example numbers, wouldn’t it save more money to pay off the mortgage as soon as possible? Since 4% of mortgage would be over twice as much as 23% of the credit card?

@nicholasdean3467 4 жыл бұрын

Now will there be a video on how to pay off debt 2020?

@nmrincon14 4 жыл бұрын

Get covid and push debt on someone else

@livingunashamed4869 4 жыл бұрын

Good video yeah I'm kinda using both approaches the issue is it'll take me like 7-8 yrs to get out of student loan debt. Making more income would so sweet but if it was easy we would all be making more.

@shguderjan7181 3 жыл бұрын

Brilliant! I have some car debt and a small amount saved up (plus a job) so I will focus on cutting out the financial clutter and use ALL the income I will get to pay the debt off. I consider that MY Christmas gift to myself!

@meimou1697 4 жыл бұрын

My geo teacher needs this

@carlatoppins8567 4 жыл бұрын

Good Stuff, I not only snowballed my debt down but Frosty the Snowmanned it once it got good to me. It is psychological and for me, I only wanted to flow with that momentum.

@christianaegracejaromay4293 Жыл бұрын

VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but COGNITIVEHACKS info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well

@SilverSoulxd 4 жыл бұрын

Hello Mr O'Brien,can you tell me what kind of watch do you have? I think that bracelet is pretty cool. I'm into watches.

@NicoMoreno 4 жыл бұрын

Thanks so much for the awesome video Nate 🔥 This will definitely help me grow my business and improve my mindset & finances!! Keep it up! 💯💯🙌

@HustleWilliams 4 жыл бұрын

This is pure fire man thank you so much for all this crucial information! Keep it up with the amazing content!

@NateOBrien 4 жыл бұрын

Hey thanks!

@MM-jx1ov 4 жыл бұрын

I just landed in Philly and you post a new video! 😃👍

@NateOBrien 4 жыл бұрын

Welcome to the cold weather. Genos and Pat's are overrated.. Go to Jim's on south street for the best cheesesteaks :)

@dynestis2875 4 жыл бұрын

Glad you had a safe trip! :)

@MM-jx1ov 4 жыл бұрын

I’m enroute to MA so no cheese steaks on this trip! But this CA girl is loving the wintery weather and will def be back! ⛄️ Thanks for being such a financial inspiration, Nate. My grandma and aunt (who raised me) taught me the invaluable lesson of saving from a young age which allows me one of my favorite passions-travel! ✈️❤️

@MM-jx1ov 4 жыл бұрын

Dynestis Aww thank you so much! 😊

@fefe1920 4 жыл бұрын

Awww you need a cheesesteak!!! Welcome to philly though😁👍🏽

@RafReyes1993 14 күн бұрын

📺 Love the video about pregnancy is too long.

@RafReyes1993 14 күн бұрын

You're not planning on having more than 5 kids right? This is not just about giving birth. Kids, humans have a lot of needs physical,mental emotional even spiritual and we have to cater to all those needs.

@xChrXisx777 2 жыл бұрын

Here I am watching this after the 2020 pandemic

@efroggys 3 жыл бұрын

I consolidated my debt into a personal loan and swore I wouldn’t use credit cards again. Sure enough, here I am with credit card debt and a personal loan. It gives you a false sense of security.

@Auw__7 2 жыл бұрын

How you said that the economy could go bad and people be laid off and here we are after the pandemic and so much has changed. We really have to look ahead.

@kiterafrey 4 жыл бұрын

Where do you find a 10% interest student loan? Even FAFSA loans are 20+ % on average 😱 I need the 10% one.

@tonycyber 4 жыл бұрын

I will start my own Paper Company to payoff my debt. I already have a beets farm.

@NateOBrien 4 жыл бұрын

Did I stutter? - Stanley

@tonycyber 4 жыл бұрын

@@NateOBrien Stanley reminds me of Eeyore from Winne the Pooh

@neilschipper3741 4 жыл бұрын

If you separate your needs from your wants and save up for what you need there should be no need for a charge card. Always every month after the bills have been paid try to take 10% of what you made and save up for a nest egg in case something comes up that way you won't be charging to pay for things. Try to start saving from day one anything Nickel Dime quarter dollar anyting

@linda3977 4 жыл бұрын

I think Snowball works best for most people. Feels good to get a debt completely paid off. Make sure you take the amount you were paying on the debt you just paid off and apply it to the next highest debt. That’s why they call it Snowball. If you have 5 different types of debt by the time you get to #3 or #4 you are really knocking it out quickly.

@Michael25250404 2 жыл бұрын

its hard doing any of these when your bills are the exact same or more than your income....

@aliyukamarilwanu4245 Жыл бұрын

Nice

@jefe3047 4 жыл бұрын

@Nate O’Brein is that a septa key card in the thumbnail 😂😂

@NateOBrien 4 жыл бұрын

Shush

@ryanroberts5104 4 жыл бұрын

I have placed myself in a good career field...so if another recession strikes like in 2008 I wont get laid off..and even if I did..I could easily find more work no matter where I live. But on the main subject I am using the debt snowball..I could be doing better, but when you are married and have children paying debt is a little more tough because you still have to provide for the little ones..there are some adjustments i could make to get the ball rolling faster..but somehow gotta get the spouse on board with me

@zolozek3327 4 жыл бұрын

Do it now it would only get More expensive as the little ones grow so are their needs 🤔 good luck.

@annmannings1840 2 жыл бұрын

Thank you😊 for this video, do you offer account management or have any recommendations?

@craigbrown7886 2 жыл бұрын

Victoria Q. Wilson

@craigbrown7886 2 жыл бұрын

Face_book☝️☝️☝️☝️

@craigbrown7886 2 жыл бұрын

F a c e b 00 k ☝️☝️☝️

@thesyainbrother3028 4 жыл бұрын

I kinda wanna stay a kid for forever now. ._.

@MrDaltonhudson 4 жыл бұрын

me too brother

@thesyainbrother3028 4 жыл бұрын

MrDaltonhudson But at the same time I hate being in my parents house with all the problems ._.

@MrDaltonhudson 4 жыл бұрын

The syain brother oh no! Things will work out, I promise

@thesyainbrother3028 4 жыл бұрын

MrDaltonhudson Bruh.. My sister got home late her curfew was 11pm it was 11:05 pm she rang the doorbell and there’s a whole argument going on... I’m so over this life and like. My parents.. like I love them and will always love them but they do to fucking much period. I can’t stand them

@dieyoung8259 2 жыл бұрын

I figured out what my weekly budget was, at the end of the week I would take what I saved by cutting back and pay off debts. It's easies that taking a chunk of money and paying debt once a month. Now I pay credit cards off soon as I use them. Having a balance just pisses me off. lol.

@MichaelJGrady-lz4in 4 жыл бұрын

This is great, but you should define more what "focusing" means. I assume you mean that you pay the highest amount unto that loan and then when it is paid off, throw that amount on top of the next loan and so on and so on. You are so knowledgeable and speak about the subject with authority. You just need to break it down a little more, without assuming knowledge on the part of your audience.

@JeromeDimairho 4 жыл бұрын

Nate, you don't seem to mention the differences between credit card debt compared to a mortgage... whilst a mortgage has a much lower interest rate you pay much more on interest since the interest is compounded/amortized... on the other hand, credit card debt is calculated using simple interest... It's not about the amount of interest that you pay, it's really about how the interest is calculated. This should help you to determine your strategy for paying off debt.

@michael43567 4 жыл бұрын

IMO Avalanche effect is better long term cause high interest rates chip away at you. Snowball effect is good if you want to get debts out the way quickly

@darron7714 2 жыл бұрын

I use the snowball method by Dave Ramsey, payoff the smallest and work my way up to the largest

@MKS73636 4 жыл бұрын

13k in debt left. It will be paid off by early 2021.

@DW... 4 жыл бұрын

Thanks Nate😘 #greatinformation

@saiyamkesar5740 4 жыл бұрын

Are brand names worth it

@skyhi9h Жыл бұрын

Yes Dave is a good advisor but if you have low income you cant afford anything more than rent and food and clothes. But getting in credit card loan will still not allow you to get a car or a home. It will stimulate you to work more but will you be able to afford anything? So what to do? Seek for a more paying job or just stop wanting things?

@ahmetturan8865 Жыл бұрын

Great video! I have a question, I have two fraud inquiries on my reports that I would like to get removed. I've seen your video regarding this, but Im still a bit confused. So I know my first step would be making a call with the credit bureau (Experian) but should I also make call what time? And would I be never stop sending a good compny COGNITIVEHACKS to my friends and people I know regarding any credit situations