Paid Off $61k In Debt In 2.5 Years Making $41k

in the lobby of Ramsey solution Elizabeth is with us hi Elizabeth how are you doing great Dave how are you better than I deserve where are you from Indianapolis Indiana very cool and you're here to do your debt free finally a little of it that's okay we never lost a patient I know I know I'll guide you through it I'll help you maybe today that you live now you're you're gonna make it I'm gonna make sure okay how much have you paid off sixty one thousand six hundred and twenty seven dollars and about 13 cents very good how long did that take 32 months Wow and your range of income during that time am i starting with one job was forty one thousand six hundred and with three jobs it was 66 thousand two hundred and forty-eight Wow yes what kind of debt was the sixty-two thousand um fifty-two thousand of it was dead and then I cash flowed at nine thousand um about thirty one thousand was student loans I owed my horseback riding instructor some money I owed eight thousand five hundred on a car which was the dumbest purchase ever and I had a medical debt and just a couple little ones and twosies so you paid every bit of this you didn't sell anything I did not sell anything well you have lived on beans and rice kiddo I mean this is a tight budget my goal was to I hear you say you killed it no you haven't said that in a while but well you you have killed it you hit your goal because this is amazing I mean you have worked like a maniac but you've also just lived nothing you have done anything for two-and-a-half you no no no no I I spent a little more on fabric and then maybe I should have not much you have much in this room I mean you're doing like fifteen hundred bucks a month every month making fellate one to sixty six that's pretty stinkin incredible the last year when I started taxing pizzas around um I was putting 67 percent of my income board's debt path and it was about it was about twenty four thousand or twenty four hundred dollars I was thinking yeah what the numbers look like yeah pretty impressive how old are you I'm 29 okay what do you do for a living I'm a engineering draftsmen and a pizza delivery driver formerly well I'm going to keep going for a few more months to get a down payment oh good for you yeah okay well how much money of you been making delivering pizza an average month what are you an average I make about a hundred five ten dollars an hour in tips so I was working twenty three hours a week so it's probably about thirty thousand a year you're making you're making a couple grand a month minimum yeah yeah okay yeah it was but you're working like every night I worked seven days a week sometimes twice a day and you're making anywhere from 2,000 2,500 a month doing that yeah extra income Wow very impressive thank you very impressive so uh what started you on this journey and you are one fired up individual or that I am got you so living like a salah' man you are you are rocking it six years ago my parents were having some trouble paying my college and so being a dumb kid at the time I didn't know any better I took out student loans and that next year they filed bankruptcy yeah and I saw what a strain it was on their marriage and I knew I never wanted that to be me so that following credit at Christmas my cousin Chris gave me a the CDs the I think it's the 14 week CDs and I was like oh thanks Chris you know right gift yeah yeah sarcastic thumbs up yeah I go to and then I put it on myself for about a year and then I started having some of the same issues that might cut my parents were having and so I frantically I was looking for a solution and I found your CDs and I popped them in and the rest is history here we go yeah yeah we'll see these are dangerous they are after you into the vortex yeah I made the your name a bad word for my parents ah a couple of times my brother hates it Lois purchase partial well I like being a bad word for people that are missed by very cool good for you very well done what's your advice to a young single lady who looks up and feels overwhelmed with $62,000 and death how do you get out of that what's the key the key for me is the sinking fund coupled with the envelope system so I get paid weekly and so you say not to make your budgets all the same for the month well I said okay I'm not going to do that but I'm going to make my weekly budgets all the claims so I divided all my expenses into four and each month or each week I would take a force of that payment and put it into an envelope and so I sunk fund everything my rent and my car payment and my $20 bag of dog food is sunk funded and my aunt thinks that's a little crazy but it works you don't have to think about it and month to month is different but week to week is the same your aunt hadn't paid off 62 thousand dollars worth of debt in 32 now he has not been over there with an opinion yeah no she's great but and she was she was just a dog food really you couldn't just put that in one week yeah no we needed to we needed to not think that's good yeah I like it and that way it just knows the grindstone right then you know I bust it and everything else goes towards the debt yes yeah good for you so you got a detailed plan yes I would say that would be one item that you did to get out of that the other item as you worked like a maniac yes and you and you really you really fried your lifestyle down to nothing I mean you were scorched earth working your craziest lifestyle thing you gave up or did did okay see you just officially weird you know those air mattresses that are sold on TV yeah I have my parents 15 year old hand-me-down their record air mattress yeah and for the last two years it has had a week and a bad leak not just a flow week now every day you wake up in the morning on the floor yes every day I pump it up when I go to bed and every night and every morning I'm waking up in a crater you are too awesome I did not want to sacrifice that weeks worth of student loan payments to buy a mattress and now you can I can that well I have to get my you know yeah well create problems but now you can probably get your own mattress now and you're doing good I do it good thank you so where'd it go thank you you are special you killed it you really did thank you Sara you're a hero I'm very very proud of you and I imagine that folks some of them that were doubters are now looking over their shoulder and are proud of you too then maybe they haven't had the ability to drop their nose down far enough to do it but they're proud of you too thank you so Chris Hogan's book is on its way to your hands in a few minutes it's signed by him that's the next chapter in your story I want to talk to you again when your millionaire Iowa and a millionaire theme our because you're on your way and be outrageously generous as you go along of course all right I'm actually hosting the legacy journey for you mom yes in February 26 at 5:00 at Life Church Indy so if you want to learn the next step with me then come out and join my class turn into an ad for your legacy journal I love it and if you guys didn't get that all down you can find that classes listed among our class listings at our website I'm sure so very well done Elizabeth well thank you so much I'm very proud of you all right it's Elizabeth from Indianapolis $62,000 paid off in 32 months making 41 oh no making 66 probably even more than that count it down let's there a debt-free scream 3 [Applause] oh man the harder you fight the more it means to you that's what it comes down to so many people that wander it's kind of limp along out of debt it's not as exciting but when you've done what she's done you're sleeping on a mattress everyone you wake up on the floor because they're air runs out of it that then you're ready to do it that free scream it's a different level I'll just tell you that's very real stuff great job it was a great job hey she can do it shut up I don't want her your whining any meaning a call of wambulance don't tell me what you deserve shut up you can do this stuff this is the Dave Ramsey Shack hey guys thanks for watching if you enjoyed this video click the subscribe button to get the latest content and check out these other great clips from the show [Music] Oh

Channel: The Dave Ramsey Show

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Id: H-aNhxZqYgs

Length: 9min 26sec (566 seconds)

Published: Tue Jan 31 2017