Ramsey Solutions’ Post

My family and I are DEBT FREE! It’s a wonderful feeling and place to be … ❤️💰🎉🎊😎😎😎

My uncle bought his first house at 18 for 17k. Lived in that house his entire life and never had to worry about what job he had since he paid off his house within a year of buying it. I think this should be what kids do. Buy first house and pay off as quickly as possible so you are never homeless unless you can't pay the taxes. You can go without electricity and water but it's harder to find a job when you live in a car. They need to bring the house prices back down to what's affordable again. I regret selling my first and second homes. I bought my first house for 55k and my second house was gifted to me. The one thing I've learned is jobs come and go but if you have a paid off house you can afford a lot more stuff if you have to take that 10 or 15 dollar an hour job to get on your feet again especially if you're not trying to pay that home loan.

Debt is leverage. Use it wisely and it makes you money. You have to use debt to buy income producing assets. The richest people in the world do not follow this man’s advice. Why not?

Working on it. Planing on being Free by the end of the year ! 2024 is your year people… never forget it !

The first comment here is an example of drinking the credit cool aid. How few people ever use credit as leverage compared to the masses of people who never get out of debt and pay more to credit card companies for their entire life.

Always funny to see coping in the comments when Dave says what is plainly obvious out loud. Someone who isn't in debt doesn't have to worry about missing a deadline or paying more (money and otherwise) for the same things a person who makes the decision to take on debt does. So many people who make an absurdly good income in a traditionally prestigious position (doctor, lawyer, etc.) and have ZERO business being in debt trouble end up on Dave's show and learn this lesson the hard way later. Without the conscious decision to eliminate it, you can't simply outearn it. Debt is slavery, period. There is no way around it.

So thankful I found Ramsey Solutions after only getting into a small amount of debt. Chose to sell my car, pay off the debt and never look back! Now I'll be graduating university with no debt and an amazing full time job lined up, already well on my way to accomplishing my financial goals!

Thank you for all the work you guys do. I very specifically remember a clip of Dave talking about how being debt free and having money makes you your own master. I graduated debt free by working throughout college (up to 47 hours a week) to avoid debt. It was tough but worth it in the end. You do not realize how much freedom there is in being debt free until you actually have that degree and no student loans. Being debt free truly does make you your own master.

I’m glad you say this but here’s what I don’t understand: If you rent an asset (hotel room, apartment, storefront for a business, a lift in construction, etc) aren’t you borrowing it?. Isn’t the payment made interest? Why’s it okay to borrow one type of asset but not another?