Debt-Free Living

Money Is Emotional

Personal finance isn’t just about numbers and math. It’s about your behavior and emotions too! When you don’t owe anybody anything, your entire perspective can change.

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  • Brandy Williams

    This is 100% true! I follow the debt snowball, the envelope system, and the $0.00 based budget and it makes me feel so good to tell my money what to do! I am in control of my finances and it feels amazing!

    • Faircloth2010


  • Faircloth2010

    Just this morning I sat down & paid off $7,021.14 in debt – one of our vehicles, and 4 credit cards!!! We started FPU with a small group at a local church back at the end of August, and it has been PHENOMENAL! The emotional aspect of paying off that debt this morning was unbelievable, and I cannot wait to tackle what we have remaining!!! Thanks to you and your Dad for all of the encouragement, motivation, teaching, and ministering you both do!!! It is changing our lives! Will & Mary Beth Faircloth – Dunn, NC

  • Rachel Partridge

    This is so true. There is so much joy in paying off that first debt in the debt snowball. I recently wrote about my personal debt story, maybe it can be a motivator for those of you that feel like you are drowning in debt.

  • William Cosentino

    When all you owe is a mortgage that is manageable and almost paid for, it’s a freakin great feeling! Even better when you can do the things you want and pay in Cash. Everytime I get offered a credit card from stores OR home equity line at the bank, I almost want to puke. I kindly tell them that I don’t subscribe to the “american way” of plastic money. nMoney is very emotional but it’s also a vibration. The more people talk negatively about it or resent people that do have money, the less of it they will have. Change your mindset about how it works and watch what happens. nThanks for what you and your dad do for the world!

  • Holly

    I barely have enough money to pay all of my bills each month so I don’t even know how to get started with Baby Step #1. Putting money away for that would mean I couldn’t pay some bills. Suggestions?

    • Teresa

      Is it possible to work a part-time job temporarily (during Christmas?) until you can save $1000? Do you have anything to sell?

    • JC

      Could you sacrifice anything that isn’t a nessecity? Or sell some things to build up your emergency fund? We had a similar situation when we first started and had to really look at EVERYTHING from a money saving perspective. It isn’t easy, but neither is being in a bind when something comes up. Good luck!

    • Stephanie

      Holly; I looked closely at my grocery bill! We had lots of food going bad, and it’s a huge hole for money. 🙂

  • Julie

    So my husband and I have been working on paying off our debt. It took us 1.5 years to pay off our first debt (this year), but once that first one got taken off “the board.” We payed off 2 others this year as well. We still have more to go, but it is definitely freeing to see that we can do it, and it does take persistence!

  • Jennifer Van Matre

    The only debt I have is to my parents (who are divorced) I owe each of them a chunk for paying off my student loan about 5 years ago-ugh! Neither bugs me for repayment. I am really bad about not paying anything to them, and thinking I’ll just do that after Christmas, or with gargle sale $, etc. I need advice on how to treat the debt more seriously.

    • Jennifer Van Matre

      garage sale $, 🙂

    • Stephanie

      Jennifer; this is coming from someone who has loaned money to family, and sold things to family (that doesn’t pay for it)… they don’t want to have to ask. That’s so painful, and uncomfortable to them. I would say put yourself in their shoes, and pay as you’d want to be paid. 😉 Your relationship is worth getting ‘Gazelle Intense’ about your loan from them.

  • Krista W.

    Before FPU, I was absolutely devastated with my finances (and I hadn’t even graduated from college yet!!) I had taken out about $25,000 in loans JUST for my freshman year, and it quickly grew to about $33,000 while I was in school and couldn’t afford to pay the interest (hooray, Sallie Mae…) Anyway, I went through most of the rest of college feeling like I had already ruined my life, and I didn’t deserve to be in college as a music major because I thought to myself, HOW WAS I EVER GOING TO PAY OFF THIS DEBT after graduation?! How could I have been so stupid?! It took a year to pay off just the interest, but I am happy to say that now my monthly payments are going to the principal (and keeping the interest paid!!) and the number is shrinking every month… YAY. Workin’ that snowball! nnFollowing the FPU principals has given me hope and empowerment. Thank you!!!

  • Heather Pechin Myers

    My little family, my husband and I, are down to a car, student loans, and one BIG government debt. We’ve gotten to the point where we are trying to save the 10% to buy a house because our apartment expenses are getting out of hand. I know this is “out of order” from the FPU plan, but the apartment is starting to drag us down! Has anyone else felt this way? nA reasonable house payment is a third or more less than what we are paying for our apartment right now for more space! nWe are paying down our debt at the same time.

  • Tiffany Bisson

    I have had the joy of paying off all our debt (except our home) and it was wonderful and a down-right emotionally intense experience! We promptly fell off the wagon and are right back where we were. Nothing hurts like having been there…made it to the light at the end of the tunnel…and then being insanely stupid and going right back to square one. Working the steps again & this time it WILL stick!

  • Guest

    You crack me up!

  • Karen

    I’ve paid off two credit cards this year and cancelled them. I am working on the last two but seems like I’m taking 1 step forward and 3 backwards on them. Suggestions!! I would love to be able to give to others when the need or opportunity arises but right now it’s just bondage to these two debts.

    • Michael Henke

      Money is fluid so are the Dave Ramsey steps. Sometimes you might have to drop down one or two if life happens. Just do them in the proper order and you’ll be fine. nnnI had to drop from step 6 down to 3 recently but am wrapping up 3 soon so I’ll be moving up again.

  • Bonita12

    You crack me up! Love your vlogs!

  • Kayla Thomas

    Being debt free (except for the house) has allowed me to be home with our daughter and follow my dream of becoming a novelist. So much freedom! Actually experiencing this has led me to leading FPU at our church. I want others to achieve their freedom and dreams too.

  • Laura

    I just started doing the budget method Rachael teaches, I made a very bad investment decision and I have a big walk ahead, before being debph free, but just making the monthly budget and starting on baby step # 1 is already giving me peace, and hope and helping me know that with my behaviour and perseverance I will make it. Thank you David and Rachel. Sorry for my spelling Im from Colombia (latina) 🙂 God bless you you gave me peace

  • Lisa P

    As a single mom with two children (one special needs) I did not think I would ever get out of debt! But I did a budget and started paying off some small medical bills (with zero interest it sounded stupid to pay it off instead of paying on my car). Your right the emotions are huge both positive and negative! I have my baby emergency fund and all I owe now is my car and 2 hospital bills. I should be debt free except the house before the end of next year!! Yay me! That you for your support and being my accountablility partner with your vlogs and your dad’s show!!

  • Alicia

    I’m going to have no credit card debt; as well as a paid off vehicle title! The only debt I’ll have is student debt, but after 10 years of on time payments (low income-based payments), the rest will be forgiven through the Public Service Forgiveness Option (I’m a teacher). So thankful for how it feels and am looking for ways to increase my monthly paycheck too!

  • Jennifer C.

    We are still struggling after my husband had a job loss last October…..(on top of being medically unable to get another job with his medical limitations) so we are stuck in the waiting trap of worker’s comp, settlement, and possible disability afterwards. I have a at-home job (work on commission) that has been paying the main bills, but I know summer is my slow season. We have already borrowed from our savings to pay what I could not cover…and his 401K is paying the house payment. We only have credit card debt and utilities/insurance to worry about, car is paid and we have dropped every luxury possible (no cable/cellphone/paper) and have a blown up vehicle in our driveway we have to keep because otherwise out insurance will go up (what’s up with that!) I am out of stuff to sell except for a small yard sale we will do in the next few weeks.nSo far nothing has been unpaid or late, but there’s almost nothing left to consider back up. We are not sure how long it will be till things are resolved with worker’s comp/etc. But I am going to assume at least 6 more months.nI could try to advance what I do, but it will cost extra in the beginning…should I take the plunge so to speak and go for it with hopes of adding income or wait till things settle down and get more stable?

  • Bonnie Arlene Hayes

    I have finished paying off my credit cards. Now I’m working on the higher debts of loans. I felt that I made a great mile marker, but then when I added up how much is left in loans, it’s not even half way done. Lol. Oh well, I’ll keep plugging away. And today, I received my official offer for a promotion at work!! Insert “bigger shovel” into the equation. 🙂

  • LadyMcKermit

    I totally agree! Sometimes the only thing that keeps us going is knowing one of those “milestone moments” (we celebrate when we pay off $2,000.00) we are steadily working to the next milestone. I think its very easy to just talk numbers but the emotion part “I work hard, I deserve this” is what got us into the mess. It is the intentional act of not spending money that is hard and I don’t always “feel” like it but as your dad says, “Children do what feels good, Adults make a plan and follow it”– I am an adult and will act like it! Thank you for your vlog! They are very inspirational!

  • Stephanie L

    Wow, this is so true! I feel like every month is an emotional roller coaster in regards to my finances. I have been on my journey to debt freedom since January and just this weekend I paid off my 2nd (of 4) credit cards. While I am SO proud of what I have done so far, it is taxing on the emotions – anger at myself for allowing things to get so bad, sadness that I’m not able to do the fun things all of my friends are doing, excitement when I see those balances drop lower-and-lower and when I see a big fat $0, and anger again when I see big chunks go from my bank account towards credit (feels like I’m not getting anything from it, when in fact I already have)… But, it’s SO worth it and I’m so loving how empowered I have felt and become during this process! I can’t wait until this time next year when I will be completely DEBT FREE!!

  • Money is definitely emotional. I just went on a salary roller coaster that only went downhill. Just came back from a 3 day vacation, was brought into the Exec VP office and was told I can quit or take a 35% ($27k) pay cut. I of course took the paycut, it was better than having 100% pay cut. nnnnAm I pissed? Sure I am. But being debt free helps me get through this because I’m not freaking out about not being able to pay my bills and being in debt.

  • Kelly Mason

    I’m currently paying off my debt, and have 2 more credit cards left, a personal loan and my car. I’ve been working the baby step #2 for 1 year now. I can’t wait to get all the cards out of the way, so I can focus on my car!

  • Lindsey

    Even though we are debt free, I struggle with this daily! So important to keep into focus that the value of financial peace is far greater than the value of an item!