Tag: debt
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Dave Ramsey Contradicts Himself (Wealthy Idiot Reacts)
The caller is concerned that he is in the middle of Dave Ramsey’s baby steps and he is losing traction. Dave Ramsey and team can’t wait to ignore the question and contradict one of their most basic messages.
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2 Steps to Financial Peace and The Secret of Wealth
Financial peace is often simplified into 1 step, CUT EXPENSES. However, there are 2 steps to financial peace and both are equally important. We all know that this second step is required, but for some reason, it skips our thought process when considering our financial priorities.
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React: Dave Ramsey Pushes Paying Off Your Home Early
Dave Ramsey, on the Ramsey Show, says it’s a risk to carry debt on your home and you should be paying it off early. Even if the math works to keep the debt, and you can handle the payment, and you have a lot of backup cash, and there is basically no risk at all. AJ breaks down how Dave refuses to answer the question and refuses debt in all cases, even if it makes sense.
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My Offer on a New Vacation Home just got Accepted! (2022)
AJ put just put an offer on a new vacation home and it was accepted! In previous episodes, AJ showed his his process on Real Estate investing from crunching the numbers, getting lending, and finding a property. In this episode, AJ shows the home he his under contract for and will convert into a vacation home (AirBnB)
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Lifestyle Inflation is the Great Wealth Destroyer
Most people’s lifestyle is connected to their income. Lifestyle inflation will slowly creep in on whatever income they have, making it nearly impossible to save and invest. AJ explains that your lifestyle shouldn’t be based on your income at all but something else entirely.
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Dave Ramsey Responds to Leveraging Gone Wrong
Wealthy Idiots Reacts to Dave Ramsey answering the question about when using leveraging has gone horribly wrong. Leveraging debt can be a good tool for building wealth. But what happens when you YOLO credit card debt into the stock market?
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Biden’s Student Loan Forgiveness Blocked (2022)
The courts have blocked President Joe Biden’s Student Loan Forgiveness plan and it just so happens that the 2022 midterm elections are coming up. Student Loan Forgiveness was already a controversial move, but this might end up helping Joe Biden and democrats by unifying voters. Was this the plan all along?