I Thought Being Debt-Free Would Feel Better Than This!
I Thought Being Debt-Free Would Feel Better Than This!
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I felt the same way
The caller needs to push his savings rate to 50% of his after tax income. The remaining 50% is having guilt free fun time all paid for in cash (we all know that I just had to say it!)!
Here is my take on the savings program: Whenever possible automate his deposits!
3 months in checking
3 months in HYSA
6 months in Vanguard’s Short Term Bond Fund (Tax free fund due to his tax bracket)
Extra dollars in Vanguard’s Tax Managed Balance Fund (50% Tax free bonds – 50% growth stocks).
Vanguard’s Roth IRA Wellesley Income Fund (35% big dividend paying stocks – 65% bonds of all maturity levels).
Employee 401k start at match increasing 1% saving every year invest in a conservative balance fund.
My wife and I are debt free. It’s just not as exiting putting money in our savings account as it was paying off our debt. The peace of mind it brings is priceless though.
Why do people like this call in. Why are these calls even accepted?
He’s has anxiety of living the way he’s been for too long.
It’s a lifestyle change, it’s a culture shock. His immune system is under fire.
LOL I’ve been there, since my husband passed several years ago. I’m so much better now, since the years and many other experiences have happened. It’s not easy to settle down from so much. And, life still will throw things at us, which is what I am going through now. I tell people to just hold on, save, save, save, spend responsibly, invest, and take care of business.
Yeah, money anxiety never wants to go away. It’s just something you’ve got to keep working on. We’ve been debt free for over a decade and every time I see the checking account balance drop a bit I feel like we’re spending our last dime.
As of Feb 2, 2025, I understand his stress. He said he is/was a Federal Contractor. Trust your instinct.
They should also be telling him to go to therapy. There’s a lot of to unwrap here for him.
Last two years were so crazy for me – I went trought divorce, moved to a new place, reconstructed 50y old house there for me and my kids. I payed all the loans for all this month ago and now, this month is the first one "quiet". No loans, no mortage, no debts after months and months with living paycheck to paycheck. It was hard but also I learned how to save more than a half of my paycheck and now I plan to work on security fund and also save some money for retirement. My stress level is still over the roof, but I hope for better times 🙂
I love how you recommend giving ❤
“Office Space moment” lol that’s great
Dont give money to single moms.
Wouldnt it have made more sense for him to invest the 250k and turn it into 500k over 5 years? Then he would have 250k in cash and a paid off house.
one of the best dave ramsey videos
I have the opposite problem. I avoid stress at all costs. Every action I take must in some way be making my life easier.
Incredible this guy to paid back his debts😂😮 now its time to feel happy an help other People to live with God
wow wow wow. this conversation is great bc it goes deeper than $… your mental state & self worth/beliefs are verrry important in how your life is shaped & maintaining your blessings.
Imagine someone would $50000 in their bank account.Having anxiety over money.There’s people who won’t see anything like that for at least forty five years
I wonder if this is the same anxiety WINNING THE LOTTERY!!!!
I love all of the comments about "single moms? why help them?" I wonder how many of those commenters are so-called Christians who celebrated when Roe v Wade was struck down. Gee, that means more children being born who will need our financial help. Why is the child’s welfare more important before birth than it is after? Children are expensive. It takes money to raise the children that women are being made to have. 😒😒
Guy is concerned with 50k in the bank?? I’m feeling pretty good if I have 2k in the bank! 😆
I paid off my home in 2022 ( total time taken : 6 years, 2.625% , $460K purchase price , now appraised at $775K).
I also have a rental property ($550K appraisal value and $287K left on mortgage)
Net worth $2.2 million , 45 yo
Thank you Dave ❤
Life is good
Ecclesiastes 5:10 which states, "Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless.".
Why do we need to help single moms?
I’m dept free in a beautiful Eastern Europe country. Came from not a rich family and worked for being in good place. Own few properties. Almost free health insurance. Life if good here
Looking to learn more? Check out these related articles from Ramsey:
How to Win With Money in 7 Baby Steps – https://bit.ly/RamseyWinWithBabySteps1
0 Ways to Reward Yourself That Won’t Bust Your Budget – https://bit.ly/RamseyRewardYourself
The Importance of Giving Back – https://bit.ly/RamseyGiveBack
Pretty common. You’ve fought debt for years! Now that fight is won, you need to shift your focus. Hard to do. Find your fire in your future together. My wife and I continued maked payments to "debtors" called bank acounts/investments.
I would love to know where I can learn more about homeostasis and how it affects our emotions and thought life.
being debt free doesn’t really mean anything 😄 It’s patting yourself on the back for never being in jail
Ahhh the cooldown period. Just keep sailing, watch the numbers go up, and be ready for incoming storms, they will happen.
i. feel like he should have been advised to take a vacation
This happened to me. It took me a little bit of time to be okay with peace.
This guy just called to brag
Everything Dr John just described is the same as when you first come out of a abusive relationship.
You are still in survival mode.. your on alert and anxious. It will take a while to adapt to the changes.
You guys are the coolest
Let’s start calling that period of time exactly what it was and continues to be: SCAMDEMIC!
COVID SCAM! An illness that DOES NOT EXIST! Worldwide taxpayer were shaken down to around 5 trillion dollar with the U.S. picking up around 2 trillion. Big Pharma is ORGANIZED CRIME.
Feels good to me.
My anxiety comes from falling back into the debt trap. I don’t want to buy anything now days, even when spending money will make things easier. I’m overly cautious because I realize how easy it would be to get caught up again.
I thought so too yet, it is like doing almost 100 mph then going down to 55. I personally understood that analogy.
Just got debt free yesterday. $155,000 in 20 months with three kiddos.
Now it’s weird.
You’re debt free. Enjoy your life with your wife. The Bible says, “Godliness with Contentment is a Great Gain” (1 Timothy 6: 6).
Even when you pay off your mortgage, you still don’t own it. If you don’t pay your property taxes, you will lose it all.
habits build who you are
And That call ain’t coming “ 🤣🤣🤣🔥
Why is Dave dressed like Run DMC
I’ve heard the same after losing the target weight. People who did it thought once they lost the targeted weight they would have no problems. But they just solved the weight problem. The others, sadly, are still remaining.
Paying off your mortgage is great.
Weight off your shoulders.
Congratulations.
Wow! Can’t believe this video came up in my feed today. Just realized I crossed the EDM threshold last week. I don’t feel any different. Still anxious. Just so thankful to God for his blessings he has given me.