Living A Debt-Free Life – Getting Out Of Debt


– Almost one and a half
years, that’s 18 months or 547 days and even 13128
hours, yes, I can count. I could’ve had a kid in less
than that amount of time. Sometimes I still can’t believe it. I’m honestly wondering how in the world I used to live with
all of that in my life. In this video, I wanna give
you a quick debt free update since being debt free
for a year and a half. Now, why do I feel compelled
to share these things with you? Not to brag or pretend like I’m better than you because I’m definitely not. Hell, I had $82,000 in debt that I had to pay off to get to where I’m at today. The goal of this video is to give you an idea, and potentially some motivation, for what’s in store
for you if you continue to hammer out paying
off all of your debts. You’re actually way smarter than I am for even seeking out
these kinds of videos. I didn’t do any of that. Nothing like that
throughout the four years of paying off my debt,
so props to you for being way better than I am,
especially in this area. Hey, I’m Jarrad from Debt Free Blueprint where I show beautiful people like you how to get out of debt and create freedom through your finances based
on the debt free blueprint. As you watch this video,
leave a comment down below and let me know what
your most excited to do with your money once your
debts are completely paid off. Okay, let’s get into it right now. I finally have six months’
worth of expenses saved up. Now saving up this amount of money took me a minute just because it was a larger amount of
money, but I completed it in less than the first year. Now, if you talked to me four years ago, I would’ve told you that
that’s nearly impossible because that’s just too much
money and would take forever. I was obviously wrong,
I’m actually to the point where I hate seeing
that cash just sit there earning almost no interest
in a savings account. Because of that, I’m kinda deciding where I want to put that money, or even a portion of that
money, so that it’ll basically gain me a better return or at least, at the very least, beat
the inflation rate. Since I now have this six-month buffer, I’m exploring a whole lot more options and opportunities in
life because that’s what becoming debt free affords
you, always remember that. Now let’s talk about investing and saving. You’re gonna feel this once
your debts are paid off. I knew that once I had my debts paid off, I would have more money than I knew what to do with, but holy smokes. I’m finally to a point in my life where I make a decent amount of
money, and I don’t have a desire to buy many useless things like I probably would’ve six years ago. This is still weird to
me, but I’ve been able to invest and save
roughly 60% of my income. Some months are a little bit more and some are a little bit
less depending on what I’ve got going on in that month. Now, I could probably
slightly increase that, but I really don’t need
to, and I’m enjoying the current lifestyle that
I’m living right now, so I’m just gonna stick with saving and investing 60% of my
money every single month. Now, I mentioned before
how while paying off my debt, I kinda turned paying more money towards my debts as a little game. It was kinda sick and
weird, but I loved it, and yeah, I turned it
into a game, whatever. The higher the better, the more that I could put towards my debts the better, I loved it, but now it’s just like that except with investing and saving. Let me tell you though, it
is way more fun this way because I actually get to keep this money and turn it into way more money
without even having to try. You’re gonna be able to
do this eventually too. It is so much fun. I’m also setting myself
up to take advantage whenever there is a dip
in the stock market. So, when it takes a big dive,
I’ll be able to do a whole lotta buying while everything
is still cheap and on sale. Trust me, I am not one
of those weirdos that is hoping that the whole economy tanks, but I’m basically in
a pretty good position no matter which direction the market goes, whether it dips a little bit or a lot, and that’s the kind of
thing that you are afforded when all of your debts are paid off and you are able to invest
and save a lot more money. It’s actually kinda funny because when I first started,
one of the main reasons that I wanted to pay off all
my debts as soon as possible was to be able to take advantage
of the next market crash. It obviously hasn’t happened yet, but now, I’m financially prepared
to use it to my advantage. Next is probably my favorite
thing to talk about, which a lot of people don’t
like to talk about it, but we’re talking about budgeting. Yes, I still create and stick to a budget every single month. Why in the heck wouldn’t
I if it’s what was the most important part,
one of the most important factors of helping me get out of debt. You know what they say,
you can take the boy outta the farm, but you can’t
take the farm outta the boy. I think that’s how the saying
goes, probably not though. Budgeting and learning
how to manage my money has had such a positive impact in my life. Not just from the standpoint of helping me pay off my debt, but even more so, since paying off my
debt to the point where everything I’m updating
you on in this video literally could not have
been done if I didn’t learn how to properly
manage my money and budget. It’s the cornerstone to all
of my financial success. It’s like that fourth leg on a table that’s holding the whole thing up. It’s the reason I’m able to
live off of 40% of my income every single month and enjoy
life more than ever before. Because I know how impactful
it’s been to my whole life, I’m actually creating a
budgeting slash money management course to show you exactly how to implement my framework into your life. I’ll put a link in the
description for you to get on the waiting list for the
class if you are interested. I hate playing favorites,
but this might be one of my favorite ones,
to be honest with you. I finally have enough cash
on hand to buy my next car. I’m telling you, I never, ever, ever thought that this would be possible. This was always one of
those things that seemed like it could not be done
kinda like going to Mars. Then someone like Elon Musk comes along, and he shows us that there is hope. Not like Star Wars hope, Elon Musk hope. No, I am not saying that
I am your Elon Musk. Well, I guess you could say that I’m kinda your poor man’s Elon Musk. I’ll at least take that. While I was paying off my debts, I actually even thought
hey, you’re always gonna have a car payment, so
just get used to it, dude. I’m so excited about this that I may even go fill up a wheelbarrow
with a bunch of those Sacagawea dollar coins to
pay for the whole darn thing. We’ll see. Even though I have the money to pay cash for my next car, my goal is to actually spend a little bit less than I have saved. That way, I can use the left over money as seed money to start
saying for the next car I’ll eventually have to buy
after this next one that I buy. I’m gonna be playing around with investing that future, future car money
into index funds since I most likely won’t need it
for another five to 10 years. I personally invest for the long term, but we can talk about that another time. I explore a lot of future options. I like to call myself
an explorer nowadays, kinda like Magellan, Lewis and Clark, Christopher Columbus, minus
all of the controversies surrounding all of them cause
they were kinda bad people, but they were still
kinda explorers, right? As I’ve mentioned so many times before, paying off debt gives you
options, like a lot of options. While I was in the process
of paying off my debt, I knew that it would,
but I didn’t even realize how many until I actually
got them paid off. What I’ve come to find out
is that doing anything fun and exciting responsibly in the future is predicated on not having any debt. Wanna work towards early retirement? You’ve gotta have your
bad debts paid off first. Wanna quit your job to
taka miniretirement? Can’t do that with a mounds of debt you allow to hang around. Do you wanna quit your job and move to another state to pursue a career? Well, you’ve gotta get your
bad debts paid off first, so you can sustain a dip in your income while you get settled into a new state. I’ve been exploring all
kinds of new concepts and ideas of how I wanna
shape my future based on things that sound
interesting and exciting to me. I can’t share too much
on that end right now. Don’t worry, you know I’m gonna be sharing a lot more of my finding with you, so that you can get a head
start on exploring these types of things as well while
you’re paying off your debts. Just a heads up, the point of those videos will be to get you in a position to know what direction you wanna take your life in once your bad debts
are completely paid off because you will get there, I promise. I like to compare paying off debt to working out really, really hard for a certain amount of time so that you can let loose and eat a whole bunch of donuts and not feel
too guilty about it. So, I guess you could say that I was pretty much dieting
throughout those four years while I was paying off my $82,000 in debt, so that I could eat all
of my favorite things: donuts, Oreos with the least
amount of cream please, and also that chewy, sour candy, love that stuff, without getting fat. Yes, in case you were wondering,
I am a fat kid at heart, and yes, those are all my
favorite kinds of junk food. Don’t forget to leave
a comment down below, and let me know what
you’re most excited to do with your money once your
debts are completely paid off. Smash that Thumbs up button and pick up your free copy of the
Debt Free Prep Workbook. I’d love to have you as
a subscriber as well, so we can start getting you to the point where you are financially free. I’ll smile ya later, alligators, adios.

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