Getting out of debt,
being completely debt-free is a lot of people’s dream,
but the exciting thing is, for a lot of people, it’s their reality. So if you’re still in the dreaming phase, here is the fastest way to pay off debt. (upbeat music) Debt is something in our
culture that is just accepted, it’s like yeah, to go to school you gotta get a student loan, gotta have a credit card,
if you want a nice car you have to have a car payment. NO! No, no, no! You guys, you can live
completely debt-free. I’m doing it, thousands,
tens of thousands, I wanna even say hundreds
of thousands of people in America are working
this plan and not only are getting out of debt,
but they are staying out of debt completely. So, here’s the deal with debt: debt steals your income. The one thing that helps
you win with money, your income, is going to be
taken away when you have debt because of your car payments,
your credit card bills, students loan, et cetera et cetera. So, the fastest way to
pay off debt is this: listing out all of your
debts, smallest to largest, regardless of the interest rates. Now this debt is
everything but your house. So payday loans, personal
loans, credit card debt, student loans, all that
is in this plan okay? Not your mortgage, everything else. Again, listing from smallest to largest, and that’s how you’re gonna pay them off. “Well Rachel, shouldn’t you pay off the highest interest rate first? That mathematically would make sense.” Yeah it would make sense mathematically, but we’re not doing math are we? We are doing behavior change, people. We are getting out of debt! And the thing about personal finance is
that it’s 80% behavior. It’s only 20% head knowledge. I was just listening
to a guy this morning, he was talking about you can
know things in your head, but that doesn’t change your life. What changes your life? When it goes down into your heart and into your actions and what you actually do with your life, so you can know how to get out of debt, but that’s not gonna do you any good. You can know well the
highest interest rate should be paid off
first. No, you have to put it into practice. And by
putting it into practice and paying off the smallest debt first, even if it’s a $400 Macy’s card, right? You pay it off, and you’re
like oh, I can do this. This is exciting, I like
this, this is great, and you pay off the next one, and the next one, it’s just like a marathon of paying off debt. For those of you out there, paying off debt is the same way. Get that momentum, get it going because you can do it. So I want you to share your story, so I’ll put a link below for you to sign up for the community, get involved. Hey everyone, thanks so much for watching. I’m excited about you getting debt-free, I hope that video inspired you, gave you a great plan, so if you want more videos like this and some exciting stuff coming up, make sure to subscribe to my channel.