Posted in Pursuit of Excellence

September 7, 2016

https://www.quora.com/How-can-people-pull-themselves-out-of-significant-financial-debt

First I would suggest working on a budget. A zero-based budget allows you to clarify your personal financial (and life) priorities to make sure your money is going to the items that are most important to you. I personally recommend even finding a budget format that works for you. The point is to know how much you make and how much money you keep at the end of the month. The author then recommends a “debt snowball” payment method. In this type of payment method, a person pays the minimum payment on all but the smallest debt. When that debt is paid, you take the amount you were paying toward it, and apply it to the next smallest debt. Repeat this process until all debts are paid off. Another method you can use is to align all your debts by highest to lowest interest rates and target the smallest balance with the highest interest rate. Finally, the author recommends making changes to your lifestyle such as downsizing, and decreasing increases. The author also recommends increasing your income through part time jobs or side-gigs like driving for Uber. The process of getting out of debt isn’t easy but it begins one step at time. Focus on creating assets while you get out of debt. If you’d like to learn my techniques, reach me in the contact me section.

http://www.cnbc.com/2016/08/29/the-profit-star-marcus-lemonis-financial-numbers-to-know.html

When it comes to running a business, you have to know your numbers, says Marcus Lemonis, star of CNBC’s “The Profit.” The serial entrepreneur, who puts his own cash into struggling businesses and tries to turn them around, would know. At this point, he’s invested about $35 million in companies featured on the show. There are three numbers that every business owner must know: annual sales revenue, gross profit margins, and expenses as a percentage of your gross profit. Marcus’s point is that you pay your bills with gross profit and not with revenue. Not knowing these numbers is the one big mistake that business owners make. Even in your own life, treat your life like a business. Know your gross income, expenses and net income and be as detailed as possible. Every penny matters. If you want to run a successful business, you have to know your revenue, gross profit and expenses “inside out,” Lemonis said.

If you have a prayer request, or if you’re in need of a financial checkup you can reach me in the contact me section.

For this week, I’ve included a video clip from the Profit called You Have to Take Care of Your People from the CNBC Prime YouTube channel.

“But those who want the best for me, Let them have the last word—a glad shout!— and say, over and over and over, “ GOD is great—everything works together for good for his servant.” I’ll tell the world how great and good you are, I’ll shout Hallelujah all day, every day.”

Psalm 35:27-28 MSG

Posted in Debt Free Me

Month End: July Snapshot

Remain consistent with your steps.

If you want to learn more about my opportunity, or if you want to have someone to discuss your debt reduction strategy with, or if you need a financial check-up, contact me.

The rich ruleth over the poor, and the borrower is servant to the lender.
https://bible.com/1/pro.22.7.kjv

I believe in your journey to….

A Debt Free Me

Posted in Debt Free Me

Month End: June Snapshot


Becoming debt free is a journey, and not just a destination. In my opinion if you’re in the middle class you will constantly battle with debt. Is debt necessary? Not necessarily. Look at the poor and the rich. The poor doesn’t have the means to have debt, and the rich know how to make debt work for them. With this struggle comes an opportunity to trust God more and communicate ever more with your companion. Communication both above and with the one you trust can not only bring comfort, but also growth towards a debt free me. As the wedding date gets closer, I realize that the balance on the Barclay’s card is going to fluctuate up and down. If the balances on all the other debts goes down, then that is still progress. You must find moments of encouragement and understand you are making progress to debt freedom.

I’ve continued to follow my process, and I’d be glad to share my process with you in the contact me section. I believe if you follow the process not only will you have an increase in your savings, and still reduce your debt. The order is very important, and you must follow the process in order. This month I’ve continued to save, but also my fiancé and I have continued to grow our business. We were able to sell one of our products. I encourage you to not just pay down debts, but also acquire assets and increase income. The mistake I made was paying down debt and not increasing income. If not used properly, you lose one of your most valuable assets, which is time.

“Committed and persistent work pays off; get-rich-quick schemes are ripoffs.”

Proverbs 28:20 MSG‬‬‬‬.

My mindset has also found validation through the Slight Edge by Jeff Olson. Below is a YouTube link to an animated book review:

Have someone to discuss your debt reduction strategy with, and if you need a financial check-up contact me.

The rich ruleth over the poor, and the borrower is servant to the lender.
https://bible.com/1/pro.22.7.kjv

I believe in your journey to….

A Debt Free Me

Posted in Debt Free Me

Month End: May Snapshot


At the close of May, I’ve decided to start setting aside more money for the wedding, and my savings account. At the same time, I’m sticking to the Process. It’s four simple steps which I’ll be glad to share when you sign up for a financial check-up. I will continue to make regular payments to reduce each credit card, but there may be months where I reduce my payments to just over the minimum payment requirement to increase retained income. At the same time, I will be looking for opportunities to increase my cash flow. It’s important to cut spending, but at the same time look to increase income.

I’m so thankful for my beautiful bride to be. In this past month, she’s picked up her activity in our spare-time business, and I couldn’t pick a better person to spend my life with. When I’m weak, she’s my strength, and when she’s weak I’m her strength. Even if you aren’t in a committed relationship, I suggest you find someone to do life with. What’s the point of living, if you can’t share it with someone?

If you need a financial check-up contact me. More details about a financial check-up is in the contact me section.

The rich ruleth over the poor, and the borrower is servant to the lender.
https://bible.com/1/pro.22.7.kjv

I believe in your journey to…. A Debt Free Me

Posted in Debt Free Me

Vision 2016: Grow in three areas

For 2016, I’ve discussed with my fiancée to grow in three areas. The last time I got out of debt, I was so focused on debt that I forgot two valuable factors: lost time and missed opportunity. I didn’t save while I was getting out of debt, nor did I look for opportunities to create passive income producing assets.

This time, I trust is going to be different, because of two important people in my life: my God and my future wife. All of this current I owe to Him and her being a part of my life. It’s a truth I’m thankful for more and more every day. I encourage you to save what money you can save and look for income producing assets too. If you don’t build a strong foundation during the storms of life, then you won’t be prepared when the storms do hit. Here’s are three areas we’re focusing on:

  1. Bless others
  2. Invest money into passive income generating assets
  3. Pay down consumer debt

In the next posts, I’ll explain the process I’m using as I’m journeying to a debt free me. If you have any questions, or need a financial check-up, contact me.

Where there is no vision, the people perish:
but he that keepeth the law, happy is he. Proverbs 29:18 Authorized (King James) Version (AKJV)

I believe in your journey to….

A Debt Free Me


Posted in Debt Free Me

Month End: November Snapshot

Below is a progress report of where I am at the end of November:

Talking with my fiancé, we agreed that I could balance transfer over $200.00 to the Capital One debt, which is why the Capital One debt increased. I made a $670.00 payment to the Barclay’s card to pay my debt off before year end. Remember if you’re going through a debt reduction plan to always communicate with your partner, and to keep a laser focus on reducing the debt.  I’m able to pay down my debt at such a fast rate because of two reasons: 1) I know my numbers because I have a budget 2) I’m willing to sacrifice, sell what I don’t need and work for extra cash.

Next year, my focus is going to be paying down one specific debt, because I need to save money for our wedding, but I will keep my heart and mind open to any opportunities that come available.

The rich ruleth over the poor, and the borrower is servant to the lender.

https://bible.com/1/pro.22.7.kjv

I believe in your journey to….

A Debt Free Me