Pay off your Debt- Fast! & avoid the #1 Mistake most people make



http://youngmomsclub.com So let me tell you about how my ex-husband completely screwed me over and how I learned the fastest way to pay off debt. When I was 15 I bought my first car (cash). I had worked under the table since I was 14 to save up for it. I was so proud. Fast forward a couple years to when I found myself pregnant at 17. I realized I needed an even better car than I had, one that was safer and would last but I had no savings, so my dad co-signed for me for a $4,000 personal loan. I sold my old car and used that money to buy an older, but reliable, Honda Accord. Around this same time, I took out a $13,000 school loan. Then I had my first pregnancy and baby. There were major complications with her and even though I had great insurance, I was left with $5,000 in medical bills. Right after that, I married my soon-to-be ex-husband. If you've followed my story so far, then you know what a huge douche he turned out to be. He got a credit card and maxed it out for $2,000 from buying all sorts of stupid stuff (video games, movies, who knows what else). My name wasn't on the thing. In one of his attempts to buy back my love after his affairs, he went out and got me a new car, an SUV that I loved. He started driving the Honda, that had my name on it. Months later after trying to work out our marriage and him cheating, yet again, I took off with the kids and the SUV and started our new life. While in the process of divorce, we mutually agreed that he would keep the Honda and we would switch the SUV into my name. While literally waiting at a red light, on the way to the court house, someone crashed into me and totaled the SUV. We had already paid off $5,000 of it and all of that insurance money went to him, because it was still in his name. Of course I didn't see a penny of it. So I had to go out and get a new car. I didn't have any money to put down so I took out a $16,000 car loan. THEN I find out that douchehead had never actually put my old Honda in his name, and that he had crashed it into a palm tree and left the scene. Since my name was still on the registration the cops were looking for me for a hit and run. I immediately went down to the station, explained the situation and cleared my name but the car had been towed and sat in impound for weeks and had occurred almost $4,000 in impound fees. If you haven't kept up so far, I was $44,000 in debt so far at the age of 20. After my divorce finalized, I sought advice from a credit expert and paid off almost all my debt within a couple years. If I had just gone at it blindly, I would've thrown a lot of money away, like most people do. In today's video I'll share with you the super easy way to pay off debt, and how to avoid the 1 mistake a lot of people make, which wastes their precious money in the process.

Comments

  1. This is the snowball method. It works because there is a huge psychological boost to blowing some debts out of existence.
  2. Whoa. Did i just watch a 'how to pay off debt' vid, without hearing the word 'interest rate'? All good.
  3. How can anyone think about paying off anything with that gorgeous face. I mean wow. I'm a fan.
  4. and once you get out of debt, beware of the tremendous urge to get back in it.
  5. I'm going to try this
  6. Are you someone's mom? If not, will you be my mom? If not, will you be the mom of my children? Please?
  7. Wow you are beautiful
  8. Why tackle the smallest debt? Why not the highest interest rate card first and work on next then next?
    Maybe you can help explain with numbers small numbers?
  9. Let me get something off my chest, first off this is not a cat call dating site and if any woman actually likes being treated like this she probably has a few issues and not worth getting involved with, Second off, why are we beating her up over not paying off high interest debt first? the main goal is to pay off debt, If I have $300 left over every month and I have a choice to pay off a credit card or throw it at a high interest loan to try and pay it off sooner, I'm going to pay off that credit card so I don't have to look at it anymore. Who cares how you do it as long as you're doing it.
  10. Great tips! Just simply writing out a list of all your debts could literally help 1,000,000+ in debt today. I know before I put it all down on paper I had no idea how much I owed entirely! As well as how much money was being wasted on interest.
  11. young milf club 👍
  12. What if none of your debts have interest?
  13. What if you can't bring any extra money , due to time or busy with kids , full time job etc..
  14. why haven I heard if any one can help with my medical cost it is 12000 dollars. I have. some but I need stay money to. but not enough to do All of this
  15. why not the highest interest rate instead of the smallest
  16. Thanks for the good advise
  17. They make you look sexier.
  18. Okay.. WOW you are extremely hot...
  19. Hi,
    Do you gave a twin sister?
  20. Not sure that I agree with this. This theory all depends on the amount of each loan and the interest rate of each. If you do the math (especially with student loans), you'll actually end up paying way more by putting money towards the smallest balance loan. Paying off a loan with a small principle first might make you feel like you're making progress, but if you have other large balance and high interest loans that you're not putting those payments into you will lose thousands of dollars over the course of a few years.


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Visibility: 135691

Duration: 4m 3s

Rating: 1878