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Money Monday 28: Should I consolidate debt? -$16,511


Money Monday 28: Should I consolidate debt? -$16,511 – Whats The Best?

Should I consolidate debt/ buy a home?
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Things mentioned:
How I price match:

Questions asked:
Frugal Mom 1 day ago
You did such a great job with your meals. Is it just sort of automatic for you now?
Fany M 2 days ago
Hi BG I bought a house with a 80/20 mortgage and I git a modification for the 80% one at 2% interest super happy about that. Then about the other 20% it was transferred to a collection agency acting like a mortgage lender, with monthly statements and charging the same amount of interest at 12% for $40.000. SO MY QUESTION IS? Should I stop paying them and save to offer a settlement once I get a chunk of money? Cuz I refuse to keep paying $400 in interest and $67 to the principal. Is ridiculous.
Judith Janssen 2 days ago
Just curious: what was written on your hand?
mysummertouch 2 days ago
I haven’t seen your cash envelope system so far in any if your videos. have you done a video on it?
Meggadegs 6 days ago
Meant to ask a question because this is where I mess myself up with my budget. How do you deal with any online shopping. Do you take the money out of the relevant cash envelope eg clothing or personal spending and pay it back into your bank account or put it in a cash tin to roll over for the following month (taking it off that balance?)
Madeleine Norman 6 days ago
Love your channel. I got a student debt on 26.268 dollars. Low interest rate but I really want to get rid of it fast so I can spend those money on life instead of debt, atm I pay of 368 every 3rd month and that will keep me in debt until I am 45. Any idea? πŸ™‚
Debt Free Hopeful 6 days ago
Awesome video! Do you ever find your Dave Ramsey “weirdness” spilling into your work? When I picture the Mena newspaper it’s like a giant finance section with Dave Ramsey’s face in it lol
Stephanie Pulliam 6 days ago
How can a single mother of one buy a house one day? I know once I am out of debt it will be easier. It just seems impossible because of how much decent houses are here in Virginia. I make around 32,000. Just looking for some hope!πŸ˜€
Lila2cute 6 days ago
Hi BudgetGirl πŸ™‚ what is your thoughts about consolidating credit card debt? Thank You!!!
only1ladyk4ever 6 days ago
My Walmart will not price match. I have tried 3 times and each time I was told I had to use the Savings Catcher which isn’t catching anything lately. And how do you eat the same thing for a week. I work from home and even with left overs it hard for me to have the same think over and over ….can you help πŸ˜• Love you videos I wait for the new ones.
Amanda Lamb 1 week ago
Hey BG! I absolutely love your videos and have been a quiet watcher for a long time. I have recently paid off a loan (yay!) and am ready to tackle the rest of my credit card debt. However, I am now in a situation where I need to move out of my current living arrangements and am on the hunt for a new home. I live in an area where rent is HIGHLY inflated. It is well known and it is unlikely to change. I can hardly afford the monthly payments for rent to live in some very shady areas of town where I know I won’t feel safe. Oddly enough, I can afford the monthly payments for a mortgage (at a 3.4% interest rate, also including insurances, property taxes, and bills like water and electricity) in a safer area of town. The difference between prices seem illogical and somewhat immoral. I contacted city employees and representatives to see if I’m crazy and it turns out I’m not. The rent prices are legitimately higher than purchase prices. I also do not qualify for any sort of financial assistance for rent because my salary is above their requirements. So, my question is should I take the plunge and purchase a home? I do not plan on moving any time soon, I would still be able to save, eventually pay off my credit card debt, and would have a possible roommate to help with home expenses. But I’m somewhat afraid of taking on mortgage debt relatively unexpectedly. Any advice is absolutely appreciated!
MrsBB2013 1 week ago
Do you coupon?
beyonce paez 1 week ago
Hey BudgetGirl, love your videos I enjoy binge watching them while I do my budget. My question is regarding capital one 360 how long does it take for transactions from your regular bank and capital one account to be successful and does capital one 360 provide a debit card or it strictly online only transition. Thank you and keep knocking out debt.

P.O. Box: Budget Girl P.O. Box 1231 Mena, AR 71953

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  1. Aurorinezori
    July 22, 2021 at 8:29 pm

    Hi BG, thanks for the great advices!

  2. Lila2cute
    July 22, 2021 at 8:29 pm

    Question, would you stay working in an unhealthy work environment?

    ***Stephanie, look into Habitat For Humanity you can buy a brand new home at zero percent interest… Seriously!!!!

  3. Dominica L
    July 22, 2021 at 8:29 pm

    You are so funny! My pride isn't worth that much either, hahaha πŸ™‚ Love the content and your new (?) hair color πŸ™‚

  4. Rachel M
    July 22, 2021 at 8:29 pm

    for the person who was asking about buying a house why not see if they can find somebody to take an extra rent a room from

  5. Amber Jones
    July 22, 2021 at 8:29 pm

    Second time watching this vid…it occurred to me that you SHOULD start a "Ask Sarah" Financial column! If not in Mena, then at whatever newspaper you end up at next. You have so much great advice to give, Sarah, and the bonus is that you've been through it. People, including me, relate to you. Just a thought. πŸ™‚

  6. Marilyn Ortega-barba
    July 22, 2021 at 8:29 pm

    youtube is not saving my thumbsup for some reason if i go back to a previous video it says i Havent thumbs up it

  7. Roxanne L
    July 22, 2021 at 8:29 pm

    I messaged you not that long ago saying that we were finally debt free! However just a few months later we now have debt again! How do we stop the cycle? It's not much just over Β£300 so we can pay it next month and become debt free again but I don't want this to happen again! How do you stop relying on credit? Love your videos and very proud of how far you have come!! Xx

  8. Adriana Fuentes
    July 22, 2021 at 8:29 pm

    Hi Budgetgirl, we recently got dental insurance through my husband's job. The insurance pays a good portion, but the estimate for our family of 4 is about 12,000 for dental procedures. How would you approach the estimate/bill? Should I save some of the money to pay cash which I know would take a looong time considering I have two car payments or should I pay the dental bill as I go taking advantage of their no interest? HELP, please! Thank you!

  9. Sandy Lila
    July 22, 2021 at 8:29 pm

    Oh I always use my calculator on my phone while grocery shopping. With 2 kids trying to put stuff in the cart it is a wonder How I ever stay under budget! That is why I grocery shop during my date night! No kids. (I'm single so no "date" and the agency I foster kids through puts on a date night where they watch all our kids for a couple hours and gives us a gift card)

  10. Living Weird Esther C
    July 22, 2021 at 8:29 pm

    Great job BG

  11. Ann marie White
    July 22, 2021 at 8:29 pm

    what would you say was the best deal you got on any item since you started your budget journey something that really stood out to you?

  12. Suyapa Opina
    July 22, 2021 at 8:29 pm

    Thank for the advices. 😊😊😊

  13. Finding Tina
    July 22, 2021 at 8:29 pm

    Great video. Very informative. I just finished my masters in forensic accounting as of yesterday. Yay me but now I have to start paying down the outrageous debt that got me there. I was going to consolidate but I see that's not suggested. So what do you suggest. I have 6 months before having to pay but I want it gone now! Lol. Any suggestions are greatly appreciated!

  14. Megan D
    July 22, 2021 at 8:29 pm

    commenting on the consolidating debt question. what BG said about it is so true. i feel so much better knocking them out one at a time, ive been doing this for a few months and knocked out 5 debts so far. it feels great, o agree with her 100%!

  15. Happy Budgeter
    July 22, 2021 at 8:29 pm

    Great advice! I love these videos!

  16. Adulting
    July 22, 2021 at 8:29 pm

    Hey BG! πŸ™‚ Once you reach your goal and are debt free, will you still continue to vlog just as much? Do you imagine that your content will then change? And if so, how?

  17. Mary
    July 22, 2021 at 8:29 pm

    Looking thinner Sara! Or is it Sarah? Good job on keeping strong on your low carb plan.

  18. Madeleine Norman
    July 22, 2021 at 8:29 pm

    Thanks for replying. I shall save to an emergency fund and then pay off my loan monthly. I could manage 385 per month πŸ™‚

  19. C_Cam
    July 22, 2021 at 8:29 pm

    Just wanted to say thank you for being such an inspiration! My debt journey is very similar to yours: a single lady working hard to pay off debt. I've been following you to stay inspired and because watching your numbers shrink keeps me motivated because they're so close to mine. I'm currently at $16,462 right now and I feel like we're debt twinsies! πŸ‘― We've got this!!

  20. Mary R
    July 22, 2021 at 8:29 pm

    The answer to your viewer's question about the 20% second mortgage is that the payment is AMORTIZED. The loan payment pays off the interest portion of the mortgage in the early years of the loan and after that amount goes down, then your subsequent (future payments) go to paying off the principal. This is always true for mortgage repayment. Your advice to keep paying is spot on.

  21. Our Family Home Life (Meals, Hauls, DIY)
    July 22, 2021 at 8:29 pm

    I love listening to your Q&A videos, thanks for doing them, great advice!

  22. nestfullofbirds
    July 22, 2021 at 8:29 pm

    The mortgage question: make an extra payment each month, specifying its just for principal. Doesn't have to be full payment.

  23. paula lucas
    July 22, 2021 at 8:29 pm

    As for eating the same thing, asked by someone, it has been said that most people eat about 14 different meals in a month, which means you will eat the same thing at least 2 times a month. Also look for ways to turn leftovers into a new dish. There are many sites showing how to turn leftovers into something new. As always an excellent video.

  24. MsK_in_CA
    July 22, 2021 at 8:29 pm

    I feel for those in area where rent is inflated. Rentals are vary scarce in my area. For every rental that comes on the market, there is 25-30 applicants within 24 hours. It's a nightmare. Maybe the question asker can look into renting a room for a time being. I did that for about 3 years, it was one of my best decisions.

  25. Sophie's Mom
    July 22, 2021 at 8:29 pm

    I lost my job today. I've been trying to cut my expenses in between applying for positions. Any suggestions on ways to cut costs?

  26. Mz.J Brown
    July 22, 2021 at 8:29 pm

    Inspirational Post: I teach 6th graders, so they are 11yrs old. The other day I was talking to one of my students about his college plan and he was talking about going to college locally, not taking student loans, and working to cash flow it…it all sounded very familiar to me…before I could even ask him he blurts out "I am a huge fan of Dave Ramsay and listen to his podcast every night, I know it's weird bc I'm a kid…" I screamed with joy and gave him a huge hug… HECK YES! Dave is even reaching the young ones! It made me so happy to be able to have a sophisticated financial conversation with a young man! He will have a bright future!!!

  27. Kelly Anne Smith
    July 22, 2021 at 8:29 pm

    Yessss, the best part of my Monday!! Another great Money Monday, BG!!

  28. Amber Jones
    July 22, 2021 at 8:29 pm

    Always look forward to your videos, BG! Loved seeing Rory. You mentioned you also have a cat, Oliver, right? We never see him…guess he's camera-shy. πŸ˜‰

  29. Cdogvlog 55
    July 22, 2021 at 8:29 pm

    Hi Budget Girl. I'm terrible at meal planning. I got too ambitious and tried to meal plan a month ahead and the meal plan was too stringent.. sort of not flexible enough. So anyway this Wednesday when I get paid I'm taking 60 dollars grocery money and am meal planning with that. I used to have a system where I put 40 dollars a month into a sinking fund for an end of month shop for the following month, but no did not work. I'm working with what I've got and will be doing some things in bulk like herb and cheese muffins for the freezer etc etc. Will see how it goes. I'm hoping I can just make a list of what I've got before I go to the store and then sort of plan around what I've got and what's cheap.

  30. Lila2cute
    July 22, 2021 at 8:29 pm

    Lol, what **are** your thoughts about πŸ€—πŸ˜πŸ˜…

  31. Ktbb
    July 22, 2021 at 8:29 pm

    on that question about the leftovers I maybe try to make meals that you can make into something different like tacos use leftovers make taco pizza or leftover hamburgers into tattor tot Cass or hamburger pizza

  32. Nic4280
    July 22, 2021 at 8:29 pm

    As for the same meal every day problem: If leftovers aren't the problem, just the frequency of the meals, you could start changing up your grocery budget to a monthly one where you make one big trip to the store in the beginning and cook a lot of normal sized meals in the first week just to freeze most of it in portion sizes – granted you need enough room in a freezer for this method. That way you can choose when you feel like a certain meal. And over time you can certainly build up a nice variety to choose from. But this method is only useful if you can keep track of your meals and don't let them go to waste.

  33. Debt Over It
    July 22, 2021 at 8:29 pm

    I keep a rolling total now when I go grocery shopping! I write down things on my clipboard as I put it in my cart. I'm sure the other shoppers think either 1) I'm really poor, or 2) I'm crazy. I just figure LLNOE so I can later LLNOE πŸ™‚ Thank you for another wonderful Money Monday! <3

  34. Ally
    July 22, 2021 at 8:29 pm

    Yay!! love money mondays!! πŸ™‚