Carl, Iowa, Nashville discussed on Dave Ramsey


How are you better than I deserve? Welcome. Where do you live Sioux City Iowa? Whoa. But of a hall to Nashville a little bit. It would have been a thirteen hour drive, but Iowa and the midwest we decide to fly here. That's a good idea. I think so it welcome. So here to do a debt free scream. I've been looking forward to it. We're glad you're here. How much have you paid off right around one hundred and twenty five thousand dollars very good, and your how long did that take you that took me just over three and a half years? Good good and your range of income during that time. It was pretty steady actually about sixty thousand the whole time. Okay. What do you do? I'm working retail sales and retail management. Good for you. Okay. What kind of debt was one hundred and twenty five thousand dollars I owed about fifteen thousand dollars on some credit cards. I never met a credit card. I didn't like about ten thousand dollars on my Jeep about ten thousand dollars on my camper that rarely got. It used but I had to have it. The rest of it was my house you paid off your did. Wow. He. He. Very cool. What's your house worth right around one twenty five and how old are you? Thirty eight new a paid for house hate for Hal. I'm looking at weird people. I love it. Well done. Well done, sir. Excellent. Very cool menu. You said you said, you're thirty eight thirty eight thirty eight years old that is awesome. Man. Thanks. So tell me what got you started on this three and a half years ago. I wish I would've started this when I was in my twenties. Dave, I can do this anybody can I'm the most stubborn man out there. I'm set in my ways, my whole family and friends will tell you that. So if I can do it anybody can the Carl five years ago would never have seen this happening. There's no way that you could have told me from five years ago that I would be here in Nashville, Tennessee, doing a debt free scream. It actually started back when we were kids. I remember we were sitting around the family table. And our dad was doing his bills like you did every month. And I think my brothers were there. And he said to us kids. He said boys, you're nothing if I don't remember exactly what he said something like, you're nothing. If you don't pay your debts on time, you pay your bills on time something long that regards man of your word type of thing. And as I got older adult heard, I think I heard is I saw the credit card commercials and everything on TV I started worshiping at the altar the FICO score. I did everything I could to pay my bills on time. I pay my debts be a man of my word. There's a happened. My credit score went up up and up and I had at eight twenty credit score before I knew it. And I'm happy to share the fact that in each one credit score. I was getting a new car every two years of it was two years, and I didn't get a new car. Something was wrong. I bragged about my credit score all my friends and family. But what was interesting Dave is I was gonna walk through this every year. I go get my tax refund on and they show me the statement. Here's how much money you made this year. And I'm thinking to myself where did all that money? Go make good money. What happened to it where to go? But I guess you just say I was normal. So a about three and a half from about four years ago a guy from another store transfer in our store. Good friend of mine. He actually stood here. A couple of years before that and we became good friends. He didn't really talk much about financial stuff. But I thought it was weird because he made the same money. I did he drove an older paid for car. He never had any credit cards. He didn't do debt. And I was so on the opposite end of that spectrum. I was thinking he was weird Mike why when he was weird. Why does he have credit cards? Why isn't he wanted? What's wrong with this guy? So I'd come in bragging about look at this new credit card. I have a four thousand dollar limit this as a ten thousand dollar limit this as a twenty thousand dollar limit. Let's go have a party on. And that's what I used to do. And he just wasn't biting on it. So what happened was he finally said to me something on the lines of don't you ever? Get tired of making all this money and have nothing to show for it. Don't you know, where your money's going, and it kind of resonated to what I said with the tax return every year. Going. And I think that's when I had that. I had a moment where is all my money going. I work hard. I don't know where it's going. So he got me in touch with financial peace university. And got me started with that. And I can tell exactly what had happened because I wanted to for the camper that I never used. I had this grand scheme idea. I was going to buy a blow up inflatable hot tub for this thing. Housing us air trinity their water. And of course, I was gonna pay for on a credit card for a camper that I never used. And that was gonna be my thing to buy. But I said, Nope, I'm not going to do it. I don't know the cash for it. I probably would have popped it the first time I used it. But I didn't get that. I got connected with financial peace university. I start work started working the baby steps with FPU and nine months later. I got down with baby step two, which was awesome. So I just started attacking my mortgage last year. I lead my first f class and right now we are in our second class in Sunday. We meet for week three. Wow. Now, you're coordinating coordinator. Very cool. Very cool. Well, congratulations Carl. All right. So after all that what do you tell people? You're the coordinator. What do you tell them the key to getting out of debt? The QC. There's three of them one. You have to be content. If you're not content you want to keep up with the Joneses. And you're always living off everybody's Facebook real. You're never gonna get anywhere. You have to be content. You have to realize you have a good life, and you have to be satisfied with what you have the second is budgeting, and I personally love the envelope system. Do the envelope system to the day. I die. I love it, which is a total of one eighty from the old Carl because I was always here's my credit card. Here's my credit card or my debit card. I never cared calf. Now, I love cash, but the third thing the big secret is you have to make it personal money is personal. So what really got me fired up with the mortgage is I was trying to eat that elephant that took the most of the time was I work in retail. So my checks can somewhat fluctuate from time to time. I thought in my head when the I thought interest was just calculated daily on the mortgage, apparently, it's not. So I thought every time I got a paycheck. I would just send the Bank the extra money and have that goes my extra principle only payment. Now, I found out that the only apply principle famous once a month. The interest is calculated that kind of upset me a little lit a fire in me. And it's probably a good. Thing because I made a personal. So every month on that very same day. I took Benjamin Franklin's down to that Bank. And laid it on the desk and say, here's my extra principle only payment for this month every month. I did this Benjamin Franklin's after Benjamin Franklin's every single month personal I could've mailed it in but the accountability of doing every single month and taking that money in there and throwing it on the desk, and that Bank those girls new Irish for real every time, I did it. And that's what really helped me with that. And you just have to think different think about how wealthy people think the credit card companies aren't spending all this money on credit card adds to benefit you. I used to think they were the HR block stuff the tax refunds and big refunds aren't your benefit. If leasing a car every two years, you're not going to get wealthy that way. So those are the secrets I think very cool. Good for you. Congratulations. Thank you. So who is your biggest cheerleader? Cheerleaders. I had a couple my buddy that got me connected. And this was the big cheerleader guy. That's helping me with financial peace nervous to right now. Him his wife. They're great. My family's been really good. My parents have been very supportive of this and my brothers. They're really good with money. They don't follow your plan verbatim. But they're really good with money. They're big about anti-debt and everything. So they're really proud to see me at this point my life to go Carl. Thank proud of you too. Good job, man. Good job. Alright house and everything is paid off. We've got a copy of Chris Hogan's everyday millionaires book for you. Because that is the next chapter in your story to be an everyday millionaire, and you are on your way a hundred and twenty five thousand dollars paid off house and everything three and a half years making sixty grand Carl from Sioux City, Iowa count it down. Let's hear a debt free scream glory. Be to God. I don't know anybody anything three two one. I'm debt..

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