FINALLY DEBT FREE!!!!

Summary

Jesse shares the emotional conclusion of her debt-free journey, celebrating after paying off $110,000 of debt, including student loans and credit cards. She reflects on the challenges of managing high monthly payments, the importance of hard work, and how using Dave Ramsey's principles helped her become debt-free a year ahead of schedule. Jesse credits her success to visualization, vision boards, and self-belief, and expresses gratitude for the support she received. She plans to continue documenting her journey toward building an emergency fund and saving for a house.

Takeaways

• 😀 The speaker, Jesse, shares the exciting news of becoming 100% debt-free after paying off their student loans.
• 🎉 Jesse made their final loan payment of $1,800 on November 2nd, marking the end of a long journey with student loan debt.
• 💸 They accumulated around $72,000 in loans after attending LaSalle University, but with interest, it ballooned to $90,000.
• 💼 From 2010 to 2016, Jesse made regular payments of $700 to $900 per month, only to reduce the principal by $4,000 due to interest.
• 📚 After reading Dave Ramsey's *Total Money Makeover* in 2016, Jesse committed to becoming debt-free by November 2019.
• 🚀 Jesse paid off a total of $110,000 in debt, which included student loans, a car loan, and credit card debt through hard work and dedication.
• 💪 They highlight the importance of self-education, hard work, visualization techniques like vision boards, and belief in oneself to achieve financial goals.
• 🏆 The speaker’s journey included ups and downs, but their positive mindset and persistence led to success a year ahead of schedule.
• 👥 Jesse is thankful for the support from friends, family, and their YouTube community during their debt-free journey.
• 🏡 Jesse’s next financial goals include building an emergency fund and saving for a house, while continuing to share advice and experiences on YouTube.

Q & A

What milestone is Jesse celebrating in the video?

Jesse is celebrating being 100% debt-free after paying off her student loans, which was her last remaining debt.

How much was Jesse’s final student loan payment, and when did she make it?

Jesse’s final student loan payment was $1,800, which she made on November 2nd.

What was Jesse’s initial debt after graduating from La Salle University?

Jesse initially borrowed about $72,000 for her education, but due to interest, her debt ballooned to $90,000 by the time she graduated.

What is Jesse’s perspective on student loans and how interest affected her payments?

Jesse explained that despite making regular payments, the interest on her loans caused her debt to grow, and after six years of payments, she had only reduced her principal by $4,000. She feels this system traps young people in overwhelming debt.

What inspired Jesse to start documenting her debt journey on YouTube?

Jesse began sharing her debt journey in 2013 after entering a contest to show what life with student loans is like. Although she didn’t win, her video caught the attention of Consumer Reports, leading her to continue sharing her story.

What role did Dave Ramsey’s ‘Total Money Makeover’ play in Jesse’s debt-free journey?

After reading Dave Ramsey’s book 'The Total Money Makeover' in 2016, Jesse adopted his principles, which helped her create a clear goal to become debt-free. His simple, structured approach resonated with her and guided her on this journey.

What was Jesse’s original timeline for becoming debt-free, and how did her actual timeline compare?

Jesse originally planned to become debt-free by the time she was 32, but she managed to achieve this goal a year earlier at age 31.

How did visualization and vision boards help Jesse on her debt-free journey?

Jesse used vision boards to stay motivated and focused on her goal. In 2014, she included a picture of a zero balance student loan account, and visualizing this future helped her believe she would achieve it faster than expected.

What are Jesse’s future financial goals now that she’s debt-free?

Jesse’s next financial goals are to save up for an emergency fund and eventually buy a house, while continuing to follow the Dave Ramsey plan.

What message does Jesse have for others going through similar financial struggles?

Jesse encourages others to stay committed to their financial goals, keep educating themselves, and believe in their ability to overcome debt. She also emphasizes the importance of learning from mistakes and sharing experiences to help others.