KPLC 7 News, Lake Charles, LouisianaDebt. free living pt. 1

Debt. free living pt. 1

By Kristen Miranda

CHARLOTTE, NC (WBTV) - Dave Ramsey hosts his own nationally syndicated radio show - he appears on cable news networks - and he advises millions of people through his books.

Consumer Reporter Kristen Miranda visited Ramsey in Nashville.  She wanted to know why his debt elimination plan works.

She learned it starts with the right mindset - his "Gazelle Intensity."

Dave Ramsey went from broke to multi-millionaire - he knows the struggle.

Ramsey: "Too many things coming at you at one time - it will steal your hope."

The only way to break free, he says, is to slap on some blinders and start your journey.

Ramsey: "You gotta focus. Take six jobs - sell stuff - that's gizelle intensity. I'm running for my life."

Every moment  of every day is dedicated to dumping debt.

Ramsey: "You can wander into debt but you can't wander out. The orbital gravitational pull is so strong it takes extra energy to break out of it."

Paige and Micah Tyson wandered in like so many of us do.

Paige Tyson: "Car, a truck, credit cards, home equity line, slowly, just emergencies here and there."

Before they knew it, they were nearly $55,000 in the hole, with a dark cloud over their heads.

Tyson: "It is hard. We had moments where I cried, we argued."

But like Ramsey they put those blinders on.

Tyson: "We did sacrifice."

And in 22 months, yes 22 months, all $55,000 in debt - gone.

Tyson: "You have a sense of pride, dignity, empowerment, a sense of accomplishment when you're done."

Not only that Tyson says, "it has revolutionized our relationship - we are so much closer now....it forces better communication whether you want to or not."

The process the Tyson's used to pay off all that debt is called the debt snowball. Kristen shows us how to use it in "Debt Free Living Pt. 2".