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You Can't Build Wealth While Buried In PaymentsYouTube
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THE RAMSEY SHOW · EXTRACTED

You Can't Build Wealth While Buried In Payments

8 tactics for digging out when the payments own you.

▶156K views on YouTubePreview, 1 of 8 tactics free

With The Ramsey Show

"You can never make enough to beat that." — Dave Ramsey
The Ramsey Show, on the episode

A run of callers are pinned, by car notes, cosigned loans, hidden balances, and a mortgage that eats the paycheck. None of them can build anything until the payments are gone, and a bigger income will not save them.

Tactic 01

The Ramsey Show, The Ramsey Show

You Can't Out-Earn Overspending

The play

Cut up your credit cards and close the accounts once paid off.

The Ramsey Show says

Chop every single one of them up and then close every one of the accounts when you pay them off. You have to build processes and systems into your life that causes both of you to be accountable, and that starts with a basic budget. Make it a year goal and live on, god forbid, 200,000, you know what I mean.

Try this

Cut up your credit cards today and close the accounts once each balance is paid off.

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Tactic 02

Never Raid Retirement For A House

The Ramsey Show says

That would be stupid, we're not doing that. It's going to be like borrowing money at 35% interest. She could…

Episode quotes and Try this

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Tactic 03

Settle Bad Debt, Don't Run

Tactic 04

Use Cash To Kill Debt First

Tactic 05

A House Should Bless, Not Burden

Tactic 06

Charge Rent, Even To Friends

Tactic 07

If You Can't Pay, You Can't Go

Tactic 08

Don't Hand A Child A Car They Can't Afford

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