Reduce Debt Increase Wealth

Reduce Debt Increase Wealth

Debt reduction to achieve financial freedom takes commitment, confidence, determination.

Episodes

December 4, 2022 33 min

How to create a budget using a spreadsheet made simple. This is the easiest way to create a budget using a spreadsheet, going to explain how this is done, giving easy to follow instructions. Will include setting up subtotals within each category and the reasons to do so. 

 Article Link:

https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/creating-a-budget

Contact: ReduceDebtIncreaseWealth@Gmail.com
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At some point everyone should start tracking expenses and income then finally create and maintain a budget. Why is this important to complete goals, have money for the troubled times, just to have piece of mind overall in life.

Article Link:
https://www.nerdwallet.com/article/finance/expense-tracker-apps By Hal M Bundrick, CFP

Contact: ReduceDebtIncreaseWealth@Gmail.com
Wanting Budget Spreadsheet Place Spreadsheet as Subject
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November 20, 2022 27 min

Those that are having problems with debt and need to quit using credit this will help in getting that problem solved. A debt reduction plan should be quit using credit, but this may be a problem for most people. 

 Article Links

https://www.citizensbank.com/learning/when-to-use-cash-credit-debit.aspx 

https://www.realsimple.com/work-life/money/debit-vs-credit-card
 By Hiranmayi Srinivasan

Contact: ReduceDebtIncreaseWealth@Gmail.com
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November 13, 2022 28 min

How much of net income should be use by each category monthly. Knowing these percentages will help in getting debt reduced and savings increased. 

Article Links:

https://www.gobankingrates.com/saving-money/budgeting/recommended-budget-percentages/ By Kathy Evans

https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/how-to-determine-budget-percentages-to-meet-your-money-goals By Geoff Williams

https://nomoredebts...

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November 6, 2022 32 min

Why is setting goals important when trying to reduce debt. Once realized that debt has become a problem setting goals to reduce debt is key to staying on track. Goals that related to reducing debt is covered in this episode. 
Article Links:

https://www.lucidchart.com/blog/the-ultimate-goal-setting-process-in-7-steps


Contact: ReduceDebtIncreaseWealth@Gmail.com
Wanting Budget Spreadsheet Place Spreadsheet as Subject
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October 30, 2022 26 min

Debt can be overwhelmingly difficult to reduce. What is the first steps in getting debt under control. First to identify what cause this problem then to try to eliminate the problem. 

 Article Links:

https://www.consumerfinance.gov/about-us/blog/how-reduce-your-debt/ By Courtney-Rose Dantus

https://www.mymoneycoach.ca/blog/how-to-pay-off-get-out-of-debt-with-small-steps.html By Julie Jaggernath

 https://www.mymoneycoach.ca/budgeting/lo...

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October 23, 2022 22 min

There is more to personal finance than reducing debt. While reducing debt is the biggest problem it not the only item that is needed in life. The second item is savings the third is protecting the assets that is owned. 

 Article Links:

https://pricelawfirm.com/the-8-ways-to-protect-your-assets-from-a-lawsuit-you-should-know-about/ Edited By Sam Price

 Comments, Questions, Requests, contact by email below
Reducedebtincreasewealth    at ...

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October 16, 2022 25 min

What to do when have little or no retirement savings. First this must be identified early so that changes can be made. More than half of Americans have less than $ !0,000 saved for retirement. 

 Article Links:

https://findcontinuingcare.com/blog/how-to-retire-with-no-money

https://machenwealth.com/blog/real-life-examples-of-what-happens-when-you-fail-to-save-enough-for-retirement

 https://www.thebalance.com/retiring-without-savings-at...

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October 9, 2022 27 min

Debt management is a must for everyone, to keep credit cards under control. Debt reduction is a must in this time of inflation to stay on track with goals. Before getting started on debt going to talk more about control center and how to use with debt management.

 Article Links

https://www.incharge.org/debt-relief/debt-management/debt-management-program-template-debt-relief/ By Tom Jackson

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October 2, 2022 25 min

Budget is the control center of personal finances. Without a budget it is impossible to determine the success of goals or determine how and when the goals will be achieved. 

 Article Links:

https://www.rockethq.com/learn/credit/personal-budget-what-is-it-and-why-do-i-need-one By Molly Grace

https://www.thebalance.com/reasons-to-budget-money-2385699 By Miriam Caldwell

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September 25, 2022 23 min

Tracking personal finances needs done on a weekly basis. Many do not keep track of anything and get behind on paying bills and do not knowing how much money in checking account. This is important for everyone to do and to stay ahead of bills coming due. 

 Article Links: 

https://www.wikihow.com/Keep-Track-of-Your-Personal-Finances By Michael R Lewis

 https://www.thebalance.com/is-it-important-to-track-my-expenses-2385679 By Miriam Cal...

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September 18, 2022 23 min

Starting a business to build wealth sometimes works but has risk and many fail. The best way to get started in a business is to have a plan and be debt free in personal life. These are the things that need to be complete before starting a business.  Income is the only way to build wealth so having a losing business will not build wealth.

 Article Link:

https://www.businessnewsdaily.com/4686-how-to-start-a-business.html By Joshua Stow...

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September 11, 2022 29 min

Found a payoff calculator that can be used to estimate the time needed to pay off debt using my plan. Remember the one-time payment being made and the month made is an estimate so may not be exact in estimating the total months need to be debt free. 

Article Link: 

https://www.calculator.net/debt-payoff-calculator.html

 

Comments, Questions, Requests,         contact by email below

Reducedebtincreasewealth    at    gmail   .    com 

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September 4, 2022 25 min

With inflation on the rise with no end in sight now the time to start reducing debt, and spending. It sounds easy to do but many struggle to grow savings and reduce debt. Here are some ideas to do to make sure the needs taken care of, and savings can increase in a time of inflation. 

 Article Link:

https://www.sounddollar.com/7-steps-to-inflation-proof-your-budget By Elaine King

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August 28, 2022 20 min

Increasing the savings account or emergency fund is important in debt reduction. How do you know when and how much to transfer into savings so that money can stay there. 

 Article Link:

https://www.nerdwallet.com/article/banking/savings/emergency-fund-why-it-matters By Margarette Burnette

 Comments, Questions, Requests,         contact by email below

Reducedebtincreasewealth    at    gmail   .    com 

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August 21, 2022 26 min

Debt reduction can be a daunting task, overwhelmed and not sure how to start. Get paper and pen out, get ready to list the steps needed to reduce debt. First a list in the order to proceed towards debt reduction then will explain that list. 

 Article Link:

https://www.nerdwallet.com/article/finance/find-debt-relief By Bev O’Shea

https://www.investopedia.com/terms/d/debt-relief.asp#:~:text=Debt%20relief%20refers%20to%20measures,a%2...

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August 14, 2022 27 min

Having to work past retirement because cannot pay the everyday needs is not an option. Taking care of needs is necessary so saving for retirement at a youthful age is necessary. There are more bills to pay as we age for example medical. So, what are the benefits of retirement savings.

 Article Links:

How Much Will Healthcare Cost in Retirement? Prepare to Be Shocked | The Motley Fool

This is how much — or little — is in the 'avera...

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August 7, 2022 26 min

What to do when getting debt reduced, many may not know what to do with the money. Do not do wasteful spending but instead set up for success. The things everyone should consider having to make sure finance is never a problem. 

Article Links:

 https://www.clevergirlfinance.com/blog/important-reminders/ By Bola Sokunbi

 Comments, Questions, Requests, contact by email below

Reducedebtincreasewealth    at    gmail   .    com 

 

Contact: Red...

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July 31, 2022 28 min

 Overwhelmed with debt can cause problems, many problems. Taking control of money and getting the debt under control will help everything in life. Making it easier for daily living and long-term goals. Take control of your money, do not let it control you. 

Article Links:

https://consumer.westchestergov.com/financial-education/credit-and-debt-management/tips-to-reduce-your-debt

https://www.wellsfargo.com/goals-credit/smarter-credit/ma...

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July 24, 2022 32 min

In a perfect world these would be determined before buying or renting a place to live. This is not possible in most cases what should be the percentages of income in each category and why this is important in keeping a personal budget. What categories that need to be in a budget and how to group. 

Article Links: 

 https://www.budgetsmadeeasy.com/household-budget-percentages/ By Ashley Patrick

 https://moneyfit.org/how-to-budget?gclid&...

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