How to Get out of Debt! (How We Got Out of $30,000 in Debt!)

45 comments on “How to Get out of Debt! (How We Got Out of $30,000 in Debt!)”

  1. The Melea Show says:

    For some reason, YouTube is having issues today. So if you want to see the STEP #7 Video, head here: And to watch our BRAND NEW Family Vlog YouTube Channel and the new video I put up yesterday, head here:

  2. Colleen Halliman says:

    Give Credit Where Credit is Due. Dave Ramsey created this Snowball system. You are awesome in and of itself but it would be appropriate to acknowledge Ramsey's method. In other places it would be plagiarism. The other You Tubers that discuss Snowball usually acknowledge the real person behind the technique. I agree with the person below.. Not Cool.

  3. jill ian says:

    So so so glad I found your channel! I'm going into my second year of college now so the family stuff isn't exactly necessary for me but since I just feel like a big kid who just pays for themselves, your tips always help motivate and inspire! Also now I'm ahead of the game for when I do have my own children one day! lol

  4. shaliefdo says:

    Great video!!!

  5. nayeli ramos says:

    great advice

  6. Erin Joiner says:

    I have been watching and researching a lot of different methods for debt payoff and you make it seem so simple I love this. A lot of other things I have read makes it seem very complicated…thank you for this!!

  7. Bookkeeping by Meredith Rines, CFP says:

    Such good advice! My husband and I paid off over $40K in debt in under three years. It was hard work, but SOOO worth it!

  8. Brodi Gill-Dodds says:

    I owe $5K in debt and I have no job or income… I need help what do I do? 😭

  9. Clara Nunez says:

    Please yes credit score video!!!! Thank you !!

  10. The Loan Robot says:

    Congrats and great advice about getting family on board! That's the biggest key.

    And don't forget that you actually saved much more than $30,000 (just the principal) when you realize how much interest you slashed by paying off your debt faster.

  11. Sirius Jones says:

    I got out of 10k by using credit I already had. It does not pile more debt on and doesn't require a new loan. I follow a guy who have tips on how to do it.

  12. Apple's bunches says:

    🙁 I'm doing something wrong if that's the case.. No debt !! I budget to hell.. Own my cars and house no mortage or loan.. I'm still living under the lines!! U make it sound like if ur debt free something magical will happen.. My goal is to be off grid 100% and be self substanceable.. I have my house half solar.. We wood heat.. We have prepaid phones.. I am thrifty as can be.. Can't work anymore then I do now.. Caring for 3 special needs children!! 2 have medical problems that's alot of hands on care!! Yes being debt free is less stressful which in itself is motivation to do so but it don't always come wit a big life style change for every1!!

  13. IrinaLikes says:

    definitely would love to see a video on credit scores

  14. Bobo TheCat says:

    hello, my ex husband refinance the house 3 times, i am a foreigner and at the time i understood absolutely nothing about refinancing. i know now he took money after refinancing on his own account. My question is: I thought my mortgage would be lower each time and it went higher… any idea why?

  15. Belmy 08 says:

    How do you handle accounts in collections ? could you do a video

  16. Belmy 08 says:

    Yes I am interested in raising my credit scores w

  17. Blue BMW says:

    The eye rolling is strong with this one

  18. Maureen Atkinson says:

    She speak so fast I listened 3 times. Why you seems so rush?

  19. Zoia Snegirev says:

    Thank you for this video it’s super helpful. I love how simple this is

  20. Kim Hubbs says:

    Would you recommend refinancing a vehicle? It's our largest bill and we still have a little over 3 years left to pay.

  21. Kay Epperson says:

    Talking so fast. Frequently difficult to understand/follow.

  22. Miss Kim says:

    Good plan, it would go faster if once you had the lowest balance paid off, take that payment and put it towards the PRINCIPAL of the furniture/RC Willey credit card, the one with the highest interest rate. You have to specify the extra $100 or whatever the extra amount is is for principal, not just the total amount, or they’ll put it towards “interest”. This pays down that card faster, the lowest percentage is the least important one to pay off. Even with a mortgage paying half , then be other half two weeks later, paying every 2 weeks instead, reduced the overall compound interest you pay long term (pays off faster). Even any extra. Always specify to add every extra penny to be paid to principal, or they’ll sneak and add it to interest instead, and that’s just money down the drain.

    I ditched TV altogether, it’s mind liberating and I haven’t missed all the drama, I have free time for others. Life is definitely better. Way better. Paying for Hollywodo movies is financing pedophelia, no two ways about it. When they accept and award and say they “counldmt do it without you”…they really mean it. Same for the music industry. They’re fully Satanic, they flaunt it in everyone’s face. So, look into it and everyone ask themselves if they want to pay the, to do what they do.

    As for refinancing a mortgage, just be careful… if you’d predict after having paid a long time, you reset yourself back to paying almost 99% for interest the first years, it takes years to begin to be paying towards the actual true house sales price. The principal. So, if you’ve been paying for years, and most of your payment now goes to the principal, you’d not want to refi and go alllll the way back to the beginning to pay just interest for all those years all over again. It would be a bad idea then. If you’re in the first 5 years of a 30-year, then maybe it’s worth a refi, if you can save 2 ormore points. Those are rough numbers, but it’s the idea. The longer you’ve been paying, often the better it is to stay put. The way to know for sure is to have them do the math if you don’t know how, to add up all you’d pay from today forward for each option, and that will give you your answer. Always get a fixed rate. Don’t do the the ARM (adjustable rate mortgage), when it shoots up in the future, and at some point it will, your payments will, too….

    Overall, the ladder method for building also helps. Once you have some money, put some in savings until you have enough for even a low-interest gaining CD (or a savings bond, or T-bills, etc.): and when they grow, or get you get several, them invest in mutual bonds with an inexpensive broker like Charles Schwab, into a ROTH up to a certain amount ( you pay the tax upfront but you don’t pay it when you take it out in the future, but you can’t take it out early or there will be a penalty, this is a retirement fund).

    Check into the limited amount you can take from it annually in the future, so once you feel that that one has been maximized, then you go onto the different kind of retirement account, usually one that takes the money out of your paycheck before taxes, and you pay the taxes in the future, which can be a lot higher, but that’s the way that works. At least it’s coming out of your check before taxes.

    And put everything you own into a trust, not a will. A will goes through probate, and basically that means everyone can argue about it, and the state can try to take things, and it’s a drawn-out process, but everything that is in a trust just gets transferred right over to the other owner of the trust if something happens to you. If you choose the right trust, there are several types, revocable, irrevocable, Q-TIP, etc. With a trust set up properly, there is no inheritance tax because the beneficiaries were the other owners all along. And if you want to prevent one person from taking over the family funds, a Q-TIP trust is good, such as for a second spouse, to protect the money for the children. Funds can go into individual trusts for the children, but also a Q-TIP basically puts the person (like a new spouse who isn’t the parent of the children, and just may not be as fair with your children after you’re not around as you’d like to believe they’d be) on a stipend, and then it dictates how much they can take out every year, so they can’t just make off with everything and leave everyone else in the lurch.
    This also brings up the extreme importance of life insurance. At least get enough to cover funeral expenses which is around $5,000 to $10,000 depending on where you live and what you do. Buy plots ahead of time if you can, so they’ll be together, they’ll only get more expensive in the future, but if not, let life insurance plan for that. But if you really love your family, do look into getting term life insurance for the longest time period you can possibly afford (whole life isn’t a good investment, other ways are better). Get enough to cover all the debt you already have, and leave them with some kind of windfall so they can not have to work while they are in morning because they are going to miss you and it’s going to mess up their life to not have you around. Then you don’t have to worry about your loved ones losing their home without you. They’ll be able to pay it off, and have recovery time off from work without fear and the added stress of the loss of you plus fending for their own survival. You don’t have to tell them how much they’d get, you can tell them they’d be ok. (In some families, it might not hurt to mention that no one can benefit from causing someone’s death…no assets from any trusts, wills, or life insurance will go to anyone suspected of that…).

    And if you have kids, definitely look into who you want to have custody if something should ever happened to you because you definitely don’t want the state making that decision for you, and they will. People may not think it happens, but it does, some of those child services actually have child traffickers within their agencies, and if they see a kid they think they can traffick, they will make up an excuse to take custody of the child. It’s happening in the US and the UK, children that will insist up and down, even without their parents present, that their home is safe and they just want to go home and be with their mommy and daddy, and the agents just make up some story to keep them. I don’t say this to scare people, I say this to give you the power to pre-empt any remote possibility of that occurring, I’ve known people that work in those organizations, and it makes them sick to see it happen when they’re powerless to put a stop to it. Orders will come from “higher up”, and their hands will be tied. Don’t let that happen. Legally make arrangements for the guardianship of your most priceless treasures of all…your children.

    They should come first before anything else in the whole wide world. Children are defenseless without you. Decide on your intended backup guardianship of them, with Plan A and Plan B, and if necessary, even a Plan C, and make it legal, in writing, and notarized, whatever it takes to make it 100% legal, and then do likewise with life insurance, and a living will or advanced directive. This states whether you want to be on life support if anything should happen to you. You can state how long you would want to be on it as well as whether or not you want to be on it at all in the event of some incident. You can also dictate specific forms of life support. If you write “indefinitely”, the hospital can force your family to keep you alive for as many years as they wish, until the family can no longer pay for it, whereupon they may just decide to pull the plug anyway. So, basically they can force your family into bankruptcy. Of course, it might be worth it if you may come out of it. I know for me, I would rather do everything possible to keep loved ones alive if there’s any chance at all.

    It’s also a good idea to find out the policies of your hospitals, because some will not honor them anyway, even though they are supposed to have to. And it wouldn’t hurt to just do a routine checkup every few years to make sure they still have the same policy thought they had. Then, if something does happen to you you could let the family know, to make sure you end up at the right hospital. Once you’re there, if their policy does not align with what your wishes are, they can try to refuse to release you to be at the hospital that will honor it.

    There are many men made holidays that everyone honors every month of the year, except August and that’s back to school there are many man-made holidays that everyone honors every month of the year, except August and that’s back to school month. It’s a wise family tradition to have one day a year even if you have to turn it into a nice dinner and a celebration, where everyone sits down and gets very real and very honest about their wishes. Even how you would want to have your own funeral might change over the years, I know mine has. It may seem unpleasant, but being honest and knowing how each other feels is really important. And then you’re not questioning if you did the right thing when decisions are forced upon you. For years, I had a musical playlist all set to go, that has changed. People think it’s morbid, but it’s actually not such a big deal, and doing it when it’s lighthearted and no one is under the stress of an actual loss is the time for it to be done.

    These things may even be more important than paying off the bills first. Otherwise, the day never comes to sit down and handle it. Life insurance would cover all your debt, but otherwise…it could go badly for the family.

  23. Calisa Hardy says:

    Huuummmm …. 🤔Numbering your debts by how many payments are left. That's a new twist! 😊 Thanks-great video

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  25. Renee Gonzales says:

    Do you suggest removing ACH for the credit card bills for the minimum balance due? So that if I have extra money pay towards it ? Or leave ACH in case I forget and just make extra payments when you have extra money?

  26. Ryan says:

    It's like she is trying to spew all this info without taking a breath..

  27. Josie Sweetme says:

    Thanks to hilaryhk422 @gmail com with their credit card hack I was able to pay my bills and my daughters college fees.Whtsap+1 three two three, three six four, Tripled seven, zero.. Praises hilaryhk422.

  28. Josie Sweetme says:

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  29. Lorraine Joseph says:

    we had dept from a company that helped my husband with his family. And he set the other bills aside. So we said okay. We buy less clothes even for my daughter. I get clothes for my daughter from my family. My father bought her clothes my aunt bought her clothes. I bought a lot of second clothes. I also bought a gucci shirt i found on a second hand site. It was new. I save my money that i have left from food shopping at the end of the week. SO that helped. The supermarket has free flowers. So i get them every week when they give them for free. Even my family enjoys them. So the money that they save will be used for my daughter. That save me money at least 50 to 100 dollars a month. And We dont eat out each month.

  30. gemini2633 says:

    I'm getting out of $30,000 debt in only 4 months. Hard work and sacrificing. By myself.

  31. Alitta Cadmus says:

    Watching this lets me know im not crazy.

  32. Mild Sriracha says:

    I personally prefer the debt avalanche method over snowball

  33. Holy Bagel says:

    Whats your husband contribution in all this cause most the time the husband is paying for everything while the wife gloats?

  34. mina malcom says:

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  35. Danalee Henry says:

    I would like to know how to raise my credit score

  36. Kaelyn Zielinski says:

    Yes please on the credit score video!!!!

  37. MarkGoudy says:

    What makes your plan different? This sounds exactly like Dave Ramsey.

  38. Judy Rose says:

    +1 (917)-791-6453 Kevin made me debt free thanks Kevin

  39. Alyssa Curry says:

    +1 (917)-791-6453 Kevin is legit and real

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  41. April Higgins says:

    Dave Ramsey.

  42. chambers mike says:

    𝐈 𝐠𝐨𝐭 𝐦𝐲 𝐝𝐞𝐛𝐭𝐬 𝐜𝐥𝐞𝐚𝐫𝐞𝐝 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 @𝐣𝐨𝐧𝐚𝐭𝐡𝐚𝐧𝐣𝐚𝐦𝐞𝐬𝟐𝟒𝟕 𝐨𝐧 𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦. 𝐇𝐞’𝐬 𝐥𝐞𝐠𝐢𝐭 ✅✅⬆️⬆️

  43. Ivie Iwuoha says:

    Hi Melea. I've seen alot of videos where cutting off cable was a tip for cutting expenses. Do u have any recommendations for internet service? The cable company has a higher rate for internet only ☹

  44. Andrei Felecan says:

    Refinancing is the dumbest thing to do.

  45. Jj Jj says:

    Do you own research about refinancing!!! Not alway the best…It is a product that is sold….

  46. Jackie C says:

    Easily take on a second job earning 2k/month for 18 months..just be cautious with tax liability

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