Personal Finance Coaching Advice From a Dave Ramsey Financial Coach

Author: Total Fit Boss Chick
Published: Thu 07 Apr 2022
Episode Link: https://total-fit-boss-chick-podcast.simplecast.com/episodes/personal-finance-coaching-advice-from-a-dave-ramsey-financial-coach-rQuJjIEM

Topics Discussed With a Dave Ramsey Financial Coach

Get Out of Debt

Set Up a Monthly Budget

Prepare for Retirement

Personal Finance Coaching Topic

As Leah highlights, make something visual; make yourself a vision board if you're visual. And the other thing is to give yourself like victory prices. When you figure out what 100% of your debt is, and then when you get to 25% of that is paid off. Take a hundred bucks away from your dog, that snowball, and go do something fun.

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Key points in Reaching your Financial Goals:

Plan for the future: start saving but do your budget. Don't start saving until the debt collectors. Pay off debt collectors, then start saving for college and paying off your house in your retirement. If you look at Dave Ramsey, he's got the steps in order to do it that way. It's convenient because it's 1, 2, 3, 4, 5, 6, 7, and you're done. So do it in the order.
What would be the fastest, most efficient way to get debt taken care of?

There are lots of options. But it's most common to start with baby steps. There's the debt avalanche, the debt snowball. There's like a pay by the monthly premium payment plan. Whichever one keeps you motivated, that's the one that's going to be fastest because if you don't stay motivated, you're going to stop halfway through.