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Financial Q&A | Dumping Debt Fridays | Are BALANCE TRANSFERS Wise? Budgeting After Being DEBT FREE

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Please leave your questions and financial wins below for a future Dumping Debt Friday Q&A!

Questions asked:
Anna:
Hey Kelly!
I am a relatively new subscriber and love your videos and the insight you provide! I have recently setup my zero-based budget in Excel and tracking/categorizing my purchases. It has definitely helped me stay on track with my budget so much better to give a name and purpose to my money.
Some dumb decisions in the past and need to pay certain bills has caused me to rack up a large credit card balance (under $10k). Right now, I'm only able to pay the minimum payment or a little more, but the interest is eating me up.
What is your view on balance transfers?
I have actually created a running budget out until 2019 to see when I would be able to pay it off. I made a realistic expectation that I could pay it off by mid-2019 because I'll be able to make more hefty payments in 2018. Based on the little research and number crunching, I believe I could pay it off a lot sooner with a balance transfer to another card.
What is your perspective on the pros and cons of balance transfers?
https://www.daveramsey.com/askdave/debt/balance-transfers-dont-do-anything
Sarah Joy:
I know you don't have credit cards now but I was just wondering have you ever had credit cards have you ever had problems with credit cards just curious
Leanne Heath
Love having money left over. Became debt free this month and wondering if you have any tips on budgeting after debt freedom?
Sharon C
Is Jamie contributing or saving for anything? I'm just curious since all of the money for apartment and wedding is coming from your budget.

Links and Videos mentioned:
Dave Ramsey on balance transfers: https://www.daveramsey.com/askdave/debt/balance-transfers-dont-do-anything
10/10 Money Tag | 10 Things I Wish I Knew About Money 10 Years Ago: https://www.youtube.com/watch?v=sgQA-MIybrg

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Kelly - Freedom In A Budget
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Thank you for watching!

Freedom In A Budget

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