Is Investing Really Harder Than Brain Surgery?
NOTE: Make sure to get the free downloadable tool beneath the video!
While listening to a podcast recently, the person being interviewed (who had gone from negative net worth to independently wealthy in less than 15 years) made a comment about investing being harder than brain surgery.
This is awful – it tells the general public like you and me that we can’t hope to figure it out, so why even try.
Investing takes some training, I sincerely believe everyone can do it, but that’s not the main point. The single biggest deciding factor whether someone has money when they retire is not if they understand what a mutual fund is, what an index fund is, what bonds are, what an ETF is, or what a hedge fund is.
It’s how much money they actually put away every single month.
COVID-19 Cut Their Income In Half: A May 2020 Budget Workshop Video for the Richards Family
Louis and Angelina (not their real names), reached out to me in April as Louis had suddenly lost his job due to COVID-19, and was now on CERB. As he was the lone income earner, this was a HUGE deal for them. Angelina is a stay at home mom with two small kids, and the $2k from CERB is less than half of their usual takehome pay. In this video, I go through their financial situation and give them some real actionable steps they could use to move forward in this storm, and where they can move in the future as Louis heads back to work.
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What do you do when you’ve got an overage (or underage) in your Zero-Based budget?
You made a plan at the beginning of the month, and now a $200 bill came in at $192. What do you do?
Update it.
Reality has changed. If you update it while keeping a zero-based budget, this will force you to be intentional with ALL your money, including the money that randomly shows up.
Plus, there’s a major (maybe surprising) psychological benefit too!
Reimbursable Expenses and EveryDollar
Have you ever tried using the Dave Ramsey app EveryDollar (www.everydollar.com) and been frustrated due to having reimbursable expenses? In this video, I go over the two main ways to deal with reimbursable expenses successfully while using the EveryDollar app. Once you get this set up well, it works and works WELL.
New Budget Workshop: Kristina Gets A Plan To Be Debt Free With A Fully Funded Emergency Fund In 20 Months!
Kristina (not her real name) is a single (divorced) woman who lives and works in rural Alberta. She makes about $1400 biweekly but hasn’t been living in control of her money. Over the past few years, she has built up over $16,000 in consumer debt. Today I run through creating her June 2020 budget and show how, even without a huge income, she can be debt-free with a fully-funded emergency fund all in less than 2 years!
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New Budget Workshop: Alex and Kristy Have A Big Influx Of Money!
Alex and Kristy are a married couple living in two different provinces – Kristy moved recently to a small town in Alberta working for her town, and Alex is an artist living in Ontario. They have no children, but have a massive windfall of a commuted pension coming this month, and want to get control of their money and be wise about what they do with it! Today we’re putting together their June 2020 budget!
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New Budget Workshop: Nick and Christine Go On CERB.
Nick and Christine Mitchell (not their real names) are a normal couple: they have two kids (ages 11 and 9), and were making reasonable money, but in May 2020, Christine lost her job due to COVID-19. Now she is on CERB, and she always made more than her husband. It’s a bit of a wake up call, because, as you’ll see, Nick and Christine are normal – in some major debt – and not making much progress. Today we go through a budget to deal with this laid-off reality and try to figure out where to go next.
Want a video like this made with your real numbers so you can move forward powerfully with a working budget? Members get this done for free! Check out details of the membership by visiting www.wepayoffdebt.ca/membership
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Membership Relaunch And The Budget Workshops!
Look Below For The First Budget Workshop Video!
Did you see that the membership has relaunched? Be sure to check out the info about that here.
Making a budget isn’t rocket science, but it does take some intentionality, as well as some clarity on a financial plan that meets all your needs and allows you to move toward succeeding.
Last month I came up with this idea of a budget workshop, where I take someone’s real numbers and put together a realistic budget they can start moving forward with that will move them towards financial freedom in a short time (0-24 months). I anonymize it and release it as a YouTube video for the community to benefit from.
(it’s so much easier to slash a budget that is not your own, can you imagine? 😁)
I’ll be releasing these publicly in the weeks to come – the first one is released now! You’ll find it below ⬇⬇⬇
Like it? Hate it? Leave a comment here and let me know what you think of it! I’d love to hear some feedback!
But, THIS is one of the main new benefits of joining my membership! Everyone who joins will get access to a budget workshop video like this for their situation, going over all the details to help them immediately jump into a productive budget to start with. PLUS I’ve got some great instructions prepared on how to actually STICK to it, and making tracking it a BREEZE. Click below for more info on the membership and getting your own budget workshop!
The First Budget Workshop Video
Joseph and Maxine are a newly married couple. Maxine is self-employed and so we spend a good chunk of the video talking about how to separate business income/expenses from household income/expenses, and then get them a budget that puts them in an AMAZING place for the coming month!
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Do You Need Some HOPE Today?
When you’re in the middle of a mess, it can feel like it’s just impossible to get out. Here are 60 seconds that will bring some HOPE to you and your family – YOU CAN get out of debt. YOU CAN get control of your money. YOU CAN change your family tree and leave a legacy for your kids. YOU CAN DO THIS. YOU GOT THIS! GO WIN! Email me rob@wepayoffdebt.ca if I can help!