Get Out Of Debt Motivation: We Paid Off Our Car


We just paid off our 5th debt just in case you need some “get out of debt motivation” I may actually cry. seriously. okay not
really. okay may. no. seriously the car was actually the thing that put us over
the edge in the beginning of all of this. it was like the proverbial last straw
and now it’s actually gone. Like seriously gone hey guys. its Wendy Valencia. yes we
had a ginormous Christmas this year like double well over double any Christmas
we’ve really had in the history of ever of our entire existence and we are still
managing to make a huge huge huge payment to debt less than like 10 days
after Christmas so today it went into like super casual talk to you about a
few things to include our debt payoff goals for 2020 and the things were trying to make up
for our lackluster 2019 because we kind of sucked in 2019 with our payoff and so
we’re kinda setting the goals high for 2020 and I have some decent news at the
end of the video so stick around for that If you are just here for the get out of debt motivation skip to 7:45 so before we get into it I wanted to
talk to y’all about that a couple of things first and the very first thing I
wanted to talk to you was about the last video I put out and y’all know which one
I’m talking about is this one I really really really appreciate the feedback
you all gave me and you hated them and I listened to you i legit listened to you
and I’m gonna redo them I respect your opinions and I really really really
wanted to do your suggestions I’m not a video editor that is evident I am you
know I’m just like you guys I came into this YouTube game not having a clue
about editing or cameras or anything I have a decent eye for design but I I
don’t know what I’m doing and so I tried to do something that was probably like
way out of my comfort zone I was excited about it because I thought it was super
tech and it was well above my skill level and it didn’t look good and I get
it and I understand and so I’m using it for right now as a placeholder in my
website and it’ll y’all will probably never see it it’s gonna be a placeholder
on my youtube channel until I get a new one I’m going to redo it in February I’m
gonna use my own voice it’s gonna talk I kind of wanted a silent one but
everybody consistently over and over and over said use my voice now understand
this isn’t an intro trailer I have like my intro trailer down you know it’s four
seconds it’ll never be more than four seconds because I click through the ones
that are more than four seconds you know the shorter they are the better they are
so I will never ever ever do one so long this is for people who are new
to me who don’t know anything about me and need to know what I’m about and what
I believe in so you know most of y’all won’t even check it out cuz you already
know who I am and what I’m a believer in so when I put that new one up I would
appreciate it if you would watch it and give me feedback and I’ll do it like a
super casual intro again like I did last time and you know just be kind cuz you
know the meanings out there y’all can just go away no I’m all about the
feedback just be nice I’m actually okay most of I’d say 99.9% of you no matter
how you say it I know you’re coming from a good place it’s that point one person
I’m like dang your mother would not be proud of you second I have set a
personal deadline of Valentine’s Day February 14th to have my website like so
if I disappear from time to time know that I am working my hiney off trust me
I only have a limited number of hours in the day that I can work on this business
and so I try and cram as much as I can so if I don’t put up a video every
single week over the next like six weeks understand that it’s because I’m trying
to get the website finished and you know I again we’re so far out of my comfort
zone with stuff that I am doing in that arena third I have also I think I might
be slightly crazy because I have also undertaken learning Adobe InDesign you
will see coming up that I started designing my own fling
for a whole host of reasons which I’ll go into in a couple of weeks but mostly
because I want to take my printables to like a whole new level and holy crap
y’all there been tears I’m not gonna lie I am NOT good with learning new stuff
especially not technology stuff my mother talked about when I was I was
lamenting about having to learn this my mother was talking to me about when I
was in high school and I would have to learn you know a new skill that it was
always ugly to be around me and I’m pretty sure
Mauricio is thinking about divorce right at the moment I’m not gonna lie there
have been numerous times in the last couple of months why that I have
questioned why I have decided to do this and I have thrown my hands up in the air
and legit said I quit I’m not doing this anymore
this is a waste of my time I am NOT but Mauricio will not let me quit but
seriously I don’t do anything half-assed so that’s just not how I operate and so
I’m sure it’ll all be worth it in the end and then I’ll have new skills yeah I
don’t know why I decided Web Design and InDesign are things that I decided to
learn all at the same time it’s not something I would recommend doing for
anyone so back to the car now I’ll be going over all the numbers next week in
like a lot of detail and unfortunately I’m one week behind because if you
follow me on Instagram you know that while we were in Bristol
at the last week of the year melina got the stomach flu like my own
personal hell and I was not able to film on the schedule that I normally film on
so I did like get all off schedule and off-kilter and we’re all about this
schedule in the Valencia household so next week you’ll see our exact numbers
that we had planned to put to debt this month but the car payoff for January was
five thousand four hundred ninety-eight dollars and sixty six cents whoa plus we did put more money to a totally
different debt this month as well so we did put quite a bit of money to debt in
January just you know less than ten days after Christmas which is pretty bang
impressive in my book and that brings our total debt payoff – hold on to your
horses two hundred and twenty five thousand seven hundred and forty nine
dollars and fifty nine cents what yep so now you have seen me on
insta talking about just under two hundred and fifty thousand dollars and
if you know me at all if I don’t know the exact number I have a tendency to
round and I didn’t know the exact number when I was creating those Instagram
posts so you know sometimes I do round but that is the exact number I actually
keep a whole spreadsheet because again if you know me I’ve spreadsheets
I’m spreadsheets for my spreadsheets so that is our exact debt payoff number and
that means that we have paid off a total of five debts so far and we have five
more to go but we are not doing the traditional debt snowball so we have
actually paid off our largest debt already so what are our plans for 2020
and December we actually moved our USAA loan over a to Navy federal and the
reason is it’s multi reasons but mostly because I hate
hate hate USA’s payment system I mean with a passion there’s there’s really
their whole banking system really makes me crazy
not nearly as crazy as their insurance payment system their life insurance
payment system drives me actually insane I mean like truly insane but their their
banking system their loan payment system it it’s just not intuitive and so I get
frustrated with it and so given the choice I will it’s the first loan I’ve
ever taken out with USAA I think yeah and I will never well I’m never I’ll
take out a bank loan again if I can avoid it but I will never take out a
loan with USAA again I I just don’t like their system so I was getting frustrated
with it and you know our primary bank is a navy federal and so I said you know
what let’s just go ahead and move it over and we’ll just kick it out in six
months it’ll be easy I’ll just transfer the payments from our checking right
there and so it just makes my life easier and the balance on that loan is
thirty three thousand one hundred eighty five dollars and five cents and we plan
to pay that off this summer and our goal is to hit about five thousand a month to
that debt so mathematically it would take us just slightly over six months to
pay that off and then we’re gonna tackle tio and Tia’s Sallie Mae loans and there
are four of them totaling just over forty two thousand dollars to are about
five thousand dollars each averaging one’s more like four thousand the other
one six thousand and two are 16 inch ones fourteen and ones once more
both of all four of those are actually in deferment because Sally Mae
he doesn’t have them set to kick in into like 2022 our plan is gonna pay off the
two small ones and then move them over to the two large ones to me be federal I
think or we might move all four to Navy federal we actually had originally tried
to move them over to to Navy Federal when we moved the USA a loan over but
they actually would not let us do it because get this the Sallie Mae loans
are student loans and you can’t consolidate student loans except with
student loan consolidation however I can’t consolidate them at all
because I’m the cosigner on those loans and I kept trying to explain to them
listen the primary loan signer isn’t paying on
these loans I am and I need these loans and mining and they wouldn’t they
wouldn’t remove them and they won’t transfer them because in the mind of
Navy federal student loans are at a lower rate however because tio and Tia
were international students these are actually very high interest rate loans
so they are actually much higher interest rate than a standard personal
consolidation loan which was like eight point one nine percent and some of these
are over ten percent but they wouldn’t consolidate I actually spoke with a
manager at the bank I was like listen I explained everything they would do
nothing to help us so basically what we’re doing is we’re doing it in phases
and I’m just gonna take out a small personal loan you know cuz I’m the
cosigner on the loons and and I’m gonna take a little small personal loan and
pay each one off I can take out a personal loan with no collateral and not
explain them to them what I need it for up to fifty thousand dollars so that I
should be able to do and then we’ll pay off the two small ones ahead of time and
then it’ll be super easy to pay that off in like a two month period and that’ll
give us a buff or from when we pay off the loan we have
like navy federal right now two months of a buffer to clear that loan and get
all the paperwork cleared and then we’ll take out another loan to pay off the
next one so for the big news at the which isn’t that big but you know gotta
have some big news at the end of this month on January 27th I am going to do a
whole video for the first time ever I’m gonna give you our anticipated debt free
date yep I’m gonna tell you when we actually think we’re gonna be debt-free
and I’m a little bit nervous about saying it out loud so I’ll see you in
the next one

25 thoughts on “Get Out Of Debt Motivation: We Paid Off Our Car

  1. Yippy Skippy! Congrats! Bravo! We have been saving and we were able to buy a new truck with cash for Christmas!! Our old car was 16 yrs old.

  2. Wendy if you need help putting your site together I'll help! I do it for a living (21 years!) so I can help with some of the minutia. I need help with budgeting so maybe we can work things out! 😀 (And InDesign :D)

  3. I’m curious to know if people who are saying they will pay cash for a car or truck are talking about a used car or a brand new 2020 vehicle?????

  4. Whoop whoop. Cant wait to hear what your pay off date will be. I'm so excited for you guys. I have been following you for a few years and love hearing how much you are paying off and what you are achieving. What happened about your house deposit savings? Are you still buying your folks house? Did I miss something somewhere?

  5. Hey there, happy new year 🙂 glad you are making good headway with the debt its such a good feeling. Im finally debt free and now trying to figure out how to save and invest and all the scary grown up things!

  6. Wow, this is very exciting. Good for you. Looking forward to watching this final developments. Ps. I am the same with new technology 😀

  7. OH WOW!!! You paid the car. It makes NO SENSE about the student loans. Wow. It’s crazy. I can’t wait to hear about your debt free date. Exciting!

  8. You are still making tremendous headway and not falling off the plan, no matter how rocky or botched it has become at times. 🙂
    We got a $10,000 Discover student loan (at a whopping 9.49%) for our son a couple years ago when I was whacked out on chemotherapy and just DAYS before I found Dave Ramsey. Several months later we paid it off with a 'no-interest for 21 months' zero-balance credit card we had not yet closed. For that, we paid a $400 transfer fee, which is WAY less than the loan interest was racking up to be, and we have been making $200 payments on it every month. It's now $6600 and we have 11 months to go before the offer expires. In April it will go to $400/month because of paying off a couple other debts between now and then and our Christmas bonuses will eradicate it.
    Honestly, if a person is gazelle-intense about debt payoff once they are following the steps, seeing the path to wealth laid out in front of them, and watching debt shrink by leaps and bounds, I do believe taking advantage of no-interest offers on cards still available to you is the way to go. We did it on a couple other debts as well. We have saved between $2500-3000 over the last 16 months of following Dave by doing this. And I have nice round numbers because of it, lol. We have a mortgage, and vehicle payment, and four other debts left but the only thing we are paying interest on is the house. I HATE INTEREST. I truly do not feel that a debt problem a behavior issue (like he says) for everyone. For many of us math nerds it's just a matter of not even realizing that there IS a method to getting out of the hole, that debt does not have to be a way of life like it was for my parents. I have been focused on not much else lately, and I just have to tune Dave and his condescending cronies out when they start screaming about it not being a math problem. UGH! Makes me so angry. Okay… sorry… Oh, man… Maybe I've said all this before..? LOL.
    Good to see you on the Tube again…xo

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