@debtfreeweirdos
I reached out to Chelsa months ago, I wanted HER on this podcast to talk to us about debt! Chelsa is a nurse, wife and a mom of 3 kiddos! Chelsa is so relatable so I knew she was the perfect choice to come on the Nursing School Struggle Podcast.
Chelsa and her husband have paid over $100,000 in debt in only 2 years!! That is so amazing! She follows the Dave Ramsey baby steps. If you don’t know them… here they are. I’ll also put information in the links below.
- Save $1,000 for an emergency fund
- Pay off Debt SMALLEST TO LARGEST. Once you pay off one debt use that monthly payment plus what you had been paying before for the current bill to pay for the next debt, so on and so on. SO each time your payments are getting larger and larger and your paying of debt faster!
- 3-6 months Living Expenses in an Emergency Fund
- 15% of your income into retirement savings
- Save for your Children’s College Fund
- Pay off the House EARLY!
- BUILD WEALTH!!
TAKE A MOMENT AND THINK… What would my monthly income be if I didn’t have a
- Car Payment
- Credit Card Payment
- Student Loan Payment
It would be pretty significant right?! For me and my husband we would be looking at an extra $1,200 A MONTH! ……..SERIOUSLY?! …….That would be $14,400 CASH MONEY in our savings or to put in as investments a year! YOU GUYS, as nurses we have such an amazing opportunity to pick up shifts or even work “princess shifts” work per diem for extra money ect. Say No to the credit card, work hard and pay off those student loans and DONT buy a brand new car!
A few things I did this month to maximize my pay check and to decrease my bills were
- I Lowered my cable ( I wish we didn’t have to have cable, but in order to have internet we had to have basic cable)
- Changed our phone contracts
- I currently stopped putting money into my 401K..at least until my debt is paid off
- Rechecked my tax withholdings
- Picked up an extra shift each week! Some were small shifts like 4-5 hours but its MORE INCOME!
Take a few hours, sit down and write down ALL your debt, smallest to biggest. You can do this.
Follow the links below to get motivated!
YouTube Debt Free Weirdos: https://www.youtube.com/channel/UCziwNNyLNuL8RdEc6kCzQAw
YouTube Dave Ramsey: https://www.youtube.com/user/DaveRamseyShow
Instagram: @debtfreeweirdos
Facebook: https://www.facebook.com/groups/THERamseyBabyStepsCommunity/?fref=nf
Dave Ramsey’s Total Money Makeover Book: https://www.daveramsey.com/store/product/the-total-money-makeover-book-by-dave-ramsey?int_cmpgn=no_campaign&int_dept=store_bu&int_lctn=Homepage-Products-1&int_fmt=text&int_dscpn=HP_Store_4up_TMMO
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