Zero Debt Living: Perks of a Debt Free Life


The following takes place between 10:00 a.m.
and 11:00 a.m. on the day that this channel blew up. Events occur in real time. Just kidding, ain’t nobody got time for
that. Ahh, it’s a beautiful day for YouTube, isn’t
it? Let’s check out some of my favorite YouTubers. Wendy Valencia:
If you don’t know Dollar Dude, you have got to get over to his channel – Aww, Wendy shouted me out! That’s awesome, that’s so nice of her
I wanted to respond to a tag by two YouTubers that I love and I’m subscribed to, Dollar
Dude and Kristen Marie – Hey, Kim’s doing the Tag, that’s awesome! Two mentions in the same day, that’s – Budget Girl:
One of my favorite channels out there right now is Dollar Dude – Oh…wow…and I’m…wow…I mean…Budget
Girl too.


What’s…what’s going on? This is crazy. Okay, no more YouTube. Let me see what’s going on on Instagram
– Lydia Senn:
I wanted to tell you. I just discovered Dollar Dude! AHHHHHHHHHHHHHHHHH What is up, my fellow Money Minions! My name is Troy, also known as – the Dollar
Dude. Welcome to another video, and as all the money
minions out there know, we talk personal finance and building a life full of financial freedom
here and we keep it as simple as and real-world as possible. If you’re down with that and you’re not
yet a minion, hit that subscribe button and that little bell icon next to it so you don’t
miss any more of my irrational freakouts. Before I even start this collab (and it’s
a big one), I gotta take a moment to thank Wendy Valencia, Kim at Free to Frugal, Budget
Girl, and Lydia Senn for all the love that you all have shown me in recent videos.


And it was all within like a 24 hour period,
pretty much. Hence the 24 reference, love that show, please
please come back. And all that love made my channel pretty much
explode this last month, so thank you to all the Lydia Senn and Budget Girl fans, and all
the Wendy Valencia and Free to Frugal fans who stopped by these past few weeks and decided
to stay a while. Allow me to welcome you all to the money minions
and you guys are awesome. So, the original plan was to get this video
up on Friday, you know, when everyone else in the collab had their video up. But just as I was finishing up editing the
intro, all of a sudden my upper lip started swelling up like a punching bag. At first I was just gonna YOLO and continue
shooting like that and make some dumb joke about it, but then my brain took over and
was like…nah, you, uh… you probably should go to the emergency room. Turns out I had a really bad reaction to some
medication I was taking. So, live from from the ER gurney, I achieved
social media nirvana and on Instagram posted the sickest duck face selfie ever.


Oh my god, #lipgoals! So that sucked. But after a few days of recovery, not to fret
ladies, I’m all pretty again, and ready to go. Anyway! This collab is nuts. If you’re new here, you may not know this
about me, but I’M DEBT FREEEEEEEEEEEEEE …and it’s pretty cool. The legendary Budget Girl got a bunch of other
debt-free finance YouTubers together to talk about how awesome the debt free life is and
why you should work towards that goal too. In addition to Budget Girl and myself, we’ve
also got Angela from Our Life… On A Budget, Lydia Senn, Kelly from Freedom
in a Budget and Jessica Ashley. Best collab ever? I think it might just be. So this collab is called Zero Debt Living:
Perks of a Debt Free Life. I even helped out with crafting the title,
during which I discovered one thing. I’ll take “Facts that Most People Will
Never Need To Know for $200, Alex.” How hard it is to rank in search for the phrase
“Debt Free”. It took me like, hours, it shouldn’t be
that hard.


Anyway, I don’t know where you’re at in
your debt freedom. You may be once of those people who feels
like they’ll never get out of debt, that they’ll always have a car payment. That they’ll always have those student loans. I thought the same thing. But you don’t have to. To me, being out of debt grants you two key
things. Power and options. For me the main perk for having no debt is
a simple one. I get to keep my money. Power. I get to increase my investing, increase my
blow money, it’s sweet. In my budget, the amount I’m allocating
just to investing is nuts.


If you had told me that I’d be able to invest
this much money every month back when I was in debt and hopeless, I would have told you
you were crazy. And then you’d probably get all offended
that I called you crazy and I’d lose a friend. And then I’d be all sad and depressed and
full of regret. So it’s a good thing that didn’t happen,
cause I like you. You’re good people. Before that money would go to loans, or to
pay the bare minimums on credit cards. Being debt free allowed me to save up an emergency
fund super fast. And having that emergency money in place is
piece of mind like you wouldn’t believe. Like let’s just say for the sake of argument
your lip blows up like a balloon while you’re editing a YouTube video and you need to go
to the ER unexpectedly. Like that would ever happen. I can sleep at night, knowing that if the company I work for closed its doors tomorrow, all my bills are still going to be paid.



A roof is still going to be over my head. Gas is still going to find its way
into my car. The only thing that would change, is that
I’d need to go on a few job interviews now and then. No rush, because everything is taken care
of at the moment. I can take my time and look for the best fit. If someone offers me a bad position, with bad pay, I can just say no and walk away. No bank is beating down my door demanding
its share of my non-existent paycheck. No repo man is slow rolling around the neighborhood
looking for my ride.


You drive a 2002 Buick. Nobody is looking for your ride. Ha ha ha. Shut up. That’s the power that being debt free affords
you. That’s the power of an emergency fund. That’s the power of taking control of your
finances. Saving, investing and giving are all some
of the most fun you will ever have with money. And those are all three things that broke
people don’t get do a whole lot of. So I’m debt free, right? So I can spend whatever I want? No, of course not. I still plan out my budget every month like
everyone else who’s realize the power of budgeting. That’s how I got debt free. But without loans to pay, I get to decide
how much I want to spend on whatever, without stuff I owe looming over my head. Options. I can contribute more to my sinking funds
for the stuff I want to do, like a vacation fund, or upgrading my computer fund or even
upgrading my car. About time. What did I just say? Being debt free gives you options. I can contribute more to one sinking fund
or contribute less.


If something comes up last minute that I want
to do, like some last minute travel with friends, I can allocate money already saved, to that,
no problem, because no one is waiting on that money. No collection agency is going to call me up
because I decided I wanted to go to Hawaii instead of the Bahamas like I originally planned. I’m not obligated to spend it on anything
I don’t want to. Power and options, my money minions. Power and options. Add those up and what do you get? Peace of mind. That’s why I’m debt free, and that’s
why you should be too.


Let me know down in the comments what you’re
planning to do with your newfound power and options when you experience zero debt living? And if you’re already there, what are YOUR
perks of a debt free life? If you haven’t already done so, head down
to the description right now yes, right now – and you check out every single one of the
other videos in this collab. This is one of the best collabs ever, no doubt,
and thanks to Budget Girl for getting us debt free YouTubers all together! As for me, this one is done, guys – hit the
like button if you liked it, or if you’re not yet a Minion, subscribe to the channel
if you feel so inclined, we’d love to have you.


So until next time, my fellow Money Minions,
my name is Troy, I AM the Dollar Dude, and I will see you guys….next Dollar!.

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