Getting out of debt: [9 benefits we found]

so in this video we’re gonna talk about
nine of our favorite benefits from paying off all her debt and so if this
is something you’re thinking about it all about actually paying off your debt
or if you need a little more inspiration these are some of the benefits that we
have found and we’re just going to chat about them for a few minutes alright let’s do it sound good yup alright so number one is just kind of a removal of pressure and so anybody who’s been in a
lot of debt or really even a little bit of debt like just senses that underlying
feeling of pressure and just feels like there’s something there and I’m just
gonna bothers you and for me like that was just amazing when we got rid of that
and when that like we could just kind of remove that thing off of our shoulders
and we could just feel that pressure relief how did it feel for you yeah I
mean I completely agree I think honestly when it was just kind of an underlying
pressure that was when we had things under control when we had things – yeah that’s true – out of control I mean I felt someone was sitting on my chest honestly yeah so this pressure even when we had we yeah
we had it under control and we were doing fine as most people would think – right – but still there was this underlying pressure – we could make our payments yes yeah basically is what I mean by that yes just kind of removing even that brain space of okay I’ve got to pay this on this and you know it’s this money coming in at
the right time and kind of all that simplifies things a little bit for sure
yeah I mean honestly we never even were in the situations where we had you know
debt collectors calling all the time so I mean I can’t even imagine the amount
of pressure that anyone in that situation is feeling and to have that
relieved would be a really really good thing all right number two is that Linda
and I have been fighting about money less since we got out of debt
way to go us and I’m not sure exactly why but I mean I guess just kind of
removing that pressure that we both feel that probably is what leads us into some
money fights you know there’s so many studies that say that money is one of
the top and most common things that people fight about and so it just has to
be stemming from that pressure and so in our case like once we kind of got rid of
that it I just noticed we were fighting less and I like that right for sure yeah can’t beat that number three is that we’ve been able to move towards and reach our financial goals faster and this is just you know basic common sense but if you’re not shelling out hundreds of dollars every month to credit card
payments and you know to all your other debts you don’t have that money that you
can use to kind of move towards your financial goals and so in our case you
know we’ve been able to save a little bit more for retirement or for our kids
college and really anything else that we wanted to save for we were able to do it
a lot faster right I mean even things like buying a new couch or buying a new
headboard for our bedroom where things like that that it’s kind of a bigger
chunk of money once we got rid of our debt it was so much easier to be like
now we can take this money instead of giving it to things we’ve already been
using but having quite paid for yet now you can actually purchase something with
cash and it feels like I think it feels a little bit more okay to spend on those
things now that we’re out of debt whereas when we were paying off our debt
and working turns that goal it felt a little bit like should we really be
buying a new couch right now and we have that you know whereas once we get it
paid off it just feels a little bit more I don’t know I feel okay yeah or we were
like what’s the cheapest couch we can find yeah because we needed a couch but
yeah right yeah agreed all right number four is that the feeling of owning something out right and not having the bank with their paws on it it’s just a
great great feeling right I mean worst case scenario is you get something
repossessed like a car or a house and not having any of that hanging over your
head it’s just kind of freeing yeah yeah I
mean I still remember the first car that we paid off together and really was like
the first big thing that we actually owned without having a you know a loan
of some sort and I remember having that title in my hand in just the thrill of
we were like dang we are awesome just owning this car like it was just a
really really great feeling and I mean so anyway so you know since we’ve been
able to pay off all of our cars and then a house and it’s just really really great
having that feeling all right number five for us that we’ve been able to give more generously and this is something that I
mean from the beginning when we were dating like we’ve just been dreaming
about about being able to give on a higher level and being able to get more
and stretch beyond 10% and just see how far we can go with our giving yeah I
think it was one of our it’s our call but it’s also one of our goals goal it’s
yeah it’s something that it’s just God’s imprinted on us it’s hardwired into who
we are and anyway and so this has been something that’s been really exciting
for us and get to step out into higher levels of that and you know in a lot of
ways it would not have been possible or definitely not on the same scale had we
not paid off her debt so one of the things I always bothered me was knowing
that I was paying hundreds of dollars of interest to different banks and credit
card companies and I that whole time I was just thinking about that like all
that money is going to them I would much rather that go to some organization or
some ministry that I really want to support or even a person like just why is it just all going to credit card interest and car payments so anyway that’s something that
was just a really big one for us that is that has always been a motivation for us
to get out of debt and just has been really fun as we’ve gotten our debt paid
off to be able to move into that area a little bit more for sure yeah and I love
that it seems like we have less and less limits the more debt paid off
the more it’s like okay we really want to do this and we can kind of check
those off of our list of yeah things that we want to get done yeah for sure number six is that by having our debt paid off we have greatly reduced the
possibility of financial disaster in our lives in our pre debt ridden lifestyle
when we were living paycheck to paycheck and where there was just no margin we
were in a situation where any little thing that could come up could
completely derail us financially you know so just like needing new tires or
yeah or water heater breaking or like anything like that we were in a
situation we were so tight that something like that could just
completely derail us and we’d have to put whatever thousands of dollars on a
credit card or in some cases like we couldn’t even pull it off so by not
having that debt looming over our heads we’ve just haven’t been able to
increase that margin a bit and so you know any little setback isn’t something
that’s going to throw us off the rails yeah and I think just kind of having
that security for me it just feels you like that – I like that all right from number seven it was all about changing the momentum for us and so in our case when we’re living paycheck to
paycheck and just riddled in debt like we we’re just kind of on this downward
spiral I’m kind of like what we’re just mentioned in the previous point where
one little thing would happen or we have a late payment and then it would just
kind of add to the debt and it just got worse and worse whereas once we started
paying off our debt we just kind of changed that direction in the momentum
of where we were going so it’s kind of like a snowball and the snowball kind of
rolls down the hill in both directions and so instead of rolling down on this
side we now kind of gotta up over the top and where it’s rolling down this way
so we still have the momentum but it’s going in the opposite direction and
every good decision is kind of building on each other and continuing to build
our net worth and improve that and that’s been really fun to watch yeah okay so for number eight it was at least for me that I was no longer a slave to
my boss which is a really fun feeling it might sound a little bit silly but I
used to feel like my boss owned me I just had no I had no control in my life
because whatever my boss said I had to do I had to do it because I needed that
job and once we get our debt paid off it just loosened the reins a lot and edited
out enough margin and not enough to like pull a Jerry Maguire type thing but it
did provide some more margin to give me a little bit more comfort in that area
it’s but all-in-all just being able to create that margin by not having a debt
like helped me not feel like my boss owned me as much alright number nine is that we were able to set a better example for our kids we now have two
kids and we have a four year old and you know we’re trying to teach them about
money a little bit we got this book where we’re teaching him a little bit
the basics of money and right and he’s really interested yeah and we go to the
store and he’s like can I have this can I have this can I have this you know
just a typical kid it’s really great to be able to set a good example and not
just be building up debt to get this kid whatever he wants but kind of explained
to him how the whole thing works and especially because we’re actually doing
it like we tell our cell No and so for him to hear the word no
it’s the same thing we’d have to tell ourselves sometime yeah I mean and yeah
you know kids learn so much more by what we do than what we say and so it’s
really important that that’s a lifestyle that we live if that’s what we want our
kids to do and be – right all right so those are our nine reasons why we are super excited that we paid off our debt if you’re still in debt why don’t you
leave a comment down below tell me which one is most exciting to you if you’ve
already paid off your debt and you have a another reason go ahead and comment
down below and on this channel like we talked about how to make more money save
more and give generously so if that’s something that interests you you can
just go ahead and hit that subscribe button down below give us a thumbs up if
you enjoyed this any other thoughts we should add about this whole thing
yeah I mean I just kind of want to encourage you that it is actually
possible yeah it is it’s work it takes work and it takes
discipline but honestly if I did it anybody can do it ya know yeah I really
mean that there are so many people who first embrace this idea paying off debt
and they just see it as an impossibility see it as this mountain that it’s just
so big that they will never be able to kind of overcome and don’t buy into that
lie you can and it’s absolutely worth the fight
and we just have found in our lives that as we kind of stepped out in faith and
then prayed and trusted God to help us with this we just saw so much momentum
and unexpected help in this area so I would encourage you to do that as well
absolutely all right that’s all for now take care all right so that is alablabla the silence in between these takes is just so awkward – why because it’s like we’re chatty chatting
and then we’re like – haha

19 thoughts on “Getting out of debt: [9 benefits we found]

  1. Re: the pressure. I think that, for me (probably for many), it was like that dull-pain of a subtle headache that sneaks up on you. Sometime in the afternoon you realize – I've had this stupid headache all day! And it's not until it's gone that you realize how much it was affecting you.
    To some extent we have accepted the lies of our culture that debt is normal and it's more important to have nice things than to worry about money. It's not until we unplug from those lies and remove the chains of debt that we realize how much it was holding us back.

  2. I long for the day when we are debt-free because that has always been my prayer is to give beyond my 10% and to be a blessing to others, it is difficult especially when both parties are not on board, however through prayer and remaining consistent, one day we will be debt-free so We can be a blessing to the kingdom of God.
    Thanks for sharing, I am being blessed by your videos. Keep doing what God has purposed in your hearts to do.

  3. This is a great speech. I love it.
    You both have a huge confident and knowledge Bob and Linda lotich…..

  4. I feel like you guys are in my head and send me motivation at the exact time I need it! It's great to have some of the benefits laid out in front of you – I feel like I've known these things in the background but having them verbalised makes them even more real 🙂

  5. Getting it out of debit is my main goal, I will be out by this Aug 2018, I found that your info is very inspiriting. I would love the pay more in my tithing once my debits are paid off.

  6. Thank you, Bob and Linda, for sharing together! I'm thankful that my husband and I share the same goals and have similar views, but we wish that ANYONE had talked to us about finances and debt before we were married . . . and before 20 years passed. However, it's not too late for our four kids and we've been training them through God's word, fellow Christian financial advisors, and our own mistakes and successes. God is so much bigger than debt.

  7. This is how I believe cash only. But the problem my husband and I have run into would be car rental and And establishing credit. What do you do in thoses cases, when u don’t have the money to be held by rental in your account. (For example a debit card )hold

  8. Ok…So we have no credit card debt right now. Would you say only get one credit card, are what would you recommend , So that you’re not on a cash only plan? I’m sorry I misunderstood the video….

  9. Sorry but don't understand a word you talking about… How do I do all this … I know what needs to be done but how I'm so glad you doing well yezz

  10. My husband and I paid the last house payment on our home last month. What an amazing relief that has been for us. Now we will move on to other debt. We see light at the end of a dark debt tunnel now! So so thankful!!!

  11. I had a 8,000 Debt The past few years. As of Wed I am now 100% debt free. No payments all the money i make i can now save. I cant even describe the pressure lifted off my shoulder. I now see a huge light at the end of the tunnel. I had collectors calling Legal Garnishment Notices. Now I can save Live go out and do things i never have been able to do in years. I sacrificed alot. So it can be done.:) Any my Credit report is Going up. Some people now ask me how to help them. YUP. My car is paid off I just feel FREE.

  12. I love giving to my church as well, just curious if you dont mind me asking… how far past paying the tithe do you give? 20% or more?

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