“As immediately, you get the KGB out of your life… you have about $10,000 IRS debt… pay that off this month”
DR
Dave Ramsey
The Ramsey Show ·
“Take all of your debts, list them smallest to largest… increase your income and decrease your outgo to at least $2,000 a month… 2,000 divided into 27 is 14 months you’re done.”
The Ramsey Show · Financial Freedom Is Worth Fighting For
Play from 1:10:48
1:10:48
Audio streams from the publisher’s own feed. Verbatim does not host or copy it.
What was described
List all debts from smallest to largest, increase net cash flow by $2,000 per month, and pay off the smallest debt first, then roll that payment into the next smallest debt until all are paid
$2,000 extra per month; $27,000 total debt; 14 months payoff estimate
Said nearby on the same subject
“Debt recycling… $500,000 non-deductible mortgage, got 50K in savings… split it… now $450,000 and $50,000 and then go invest the 50K into shares… now you have $450,000 non-deductible debt and 50,000 tax deductible debt”
PN
Pat Noll
Equity Mates Investing Podcast ·
“Number two would be paying principal and interest repayments on your tax-deductible debt when you also have owner-occupied debt… preserve that, don’t pay it off”
PN
Pat Noll
Equity Mates Investing Podcast ·
“It's a simple formula. And what it is, is it calculates a ratio, a number that takes your net operating income divided by your total annual debt service, your debt payments, and it gives you a number that can be used to compare.”
HL
Henry Lopez
The How of Business - How to start, run, grow and exit a small business. ·
Moments like this, every Monday
The strongest new moments on your topics, in the speakers' own words. Free for three topics.
No card. No password. One-click unsubscribe.
Track a competitor?
Pro watches up to 25 names or phrases and emails you the morning after they are said.
See Pro, $29 a monthVerbatim quotes a short extract and links to the episode; the episode belongs to its publisher. Remove a show.