Jimmy Financial Coaching

05/10/2022

Things move smoother when you've got an emergency fund to fall back on.
You can make wise, confident financial decisions knowing that you're not spending your last $100 on the electric bill. There's more in case something urgent and unexpected happens.
If you're just getting started on the 7 Baby Steps, Step 1 is to save $1,000 for a starter emergency fund before you begin paying off debt. Yes, it can be tough to save up that first $1,000 if you've never saved that amount of money before. BUT, once you've got it, the peace of mind it gives you is priceless.

05/02/2022

It takes a few months to get the hang of budgeting. At first, you might see that you overspend in ways you never realized before. You also might realize you spend a lot less than you expected to in some categories. Those first months are when you get your bearings.
By about month 3, you'll start to get the hang of things. Once you hit that point, you'll begin to feel a sense of control you never had before. You'll have the power to tell your money where to go and what to do for you. THAT is when the budget becomes a POWERFUL tool to help you reach your money goals.
Here's how to make one:
1: List your income.
2: List your expenses. (this includes saving, spending, extra debt payments, etc.)
3: Subtract your expenses from your income. (this should equal zero, because you've given EVERY dollar in your budget a job 💪)
4: Track your transactions. (aka - stick to the budget and write down how much you actually end up spending in each category throughout the month)
5. Do some planning and make a new budget before each month begins! (Ramsey Solutions)

04/30/2022

The American Dream is going to cost you more than ever before. Dave Ramsey has some great advice on what you can do.

04/30/2022

Getting term life insurance is not one of the 7 Baby Steps. If someone depends on you or your income, you need to get term life insurance in place as soon as possible.
I only recommend TERM life insurance.
Why?
You get the same amount of coverage for a fraction of the price of a whole life policy.
A term policy lasts for a set number of years (usually 20) and you pay a low rate each month for the coverage you need. At the end of that term, yes, that policy has ended, but what the critics fail to remember is that you've had 20 years of affordable coverage. In that time, you can use the money you’re saving to pay off debt, save for emergencies, and invest the difference you would have thrown away on a more expensive whole life policy.
If you're working to get out of debt and following the 7 Baby Steps, you'll be covered with your investments after 20 years, and you won't need life insurance anymore.
Don't throw your money away. Think for yourself and get the coverage you need, not the policy that someone making a commission wants to sell you on.
I recommend you get 10 to 12 times your annual income worth of term coverage.
For stay-at-home parents, I recommend a term policy valued between $250,000 - $400,000. (Ramsey Solutions).

Give me a call @ 910-650-7145 for a free consultation and to define what value of life insurance you need to protect your family.

07/21/2021

A young, hardworking, single father with two kids signed up with me for Financial Coaching about 6 weeks ago.

When we met, he was about $870 over budget every month, using credit cards to get by and have 11 outstanding debts, totaling $35,944.

I am excited to share that today he has about $300 extra to carry over into his August budget, paid off $2,137 of his debts and knocked off 7 small debts using the debt snowball method.

It was not easy, but he is willing and committed to change his financial future and to leave a legacy for his kids.

He had to make some tough decisions on his spending behavior. He started a side job and picked up overtime at work.

This young, single father has a lot of work to do but he is heading in the right direction.

Sometimes all you need is someone to; Be in your corner, Be your supporter, Be your cheerleader, Hold you accountable, Motivate you to achieve your financial goals.

For those of you who know me, I enjoy helping people and am passionate about it. I would love to help more friends with their financial freedom journey. So, feel free to share this story.

My Cell # 910-650-7145
Email: [email protected]

07/18/2021

It is never too early for your teens to learn how to handle money the right way. To learn the truth about debt, budgeting, saving, and investing.
Featuring: Kevin Rudredat. Kevin opened his savings account when he was just 1 year old. He just turned 13 years old and was super excited to open his first checking account so he can have control and manage his finances for his mini online business. Kevin is currenting investing in a NC/UTMA account and a Custodial ROTH IRA.
Kevin also recently completed Ramsey Foundations in Personal Finance: Middle School Edition. Feel free to share my post with your friends and family, to schedule a complimentary session with me to help kickstart their teens financial future.

07/02/2021

The 7 baby steps created by Dave Ramsey, helping millions of people with their financial goals.
I have been working with a young Marine for several months on his financial freedom plan. Using the 7 baby steps, he is currently on baby step 2 and in line to be debt free by the end of July. I can’t wait to share his success story!

06/29/2021

“If you’re married, agree on the budget with your spouse. This one sentence requires a stand-alone book to describe how, but the bottom line is this: if you aren’t working together, it is almost impossible to win. Once the budget is agreed on and is in writing, pinky-swear and spit-shake that you will never do anything with money that is not on that paper. The paper is the boss of the money, and you are the boss of what goes on the paper, but you have to stick to the budget, or it’s just an elaborate theory.” — Dave Ramsey

06/22/2021

Thank you for joining my page. I have been a personal financial coach for about five years. Over the past three years, I have been coaching the Dave Ramsey principles, which is a proven method that is helping millions of people with their personal finances. I have been trained directly by the Ramsey Solutions group (Financial Coach Master Training). I have lots of experiences and exposures through my own financial dealings and that of my clients. Personally, I am on baby step #6 and on pace to pay-off my home early.
I would love to help you, your friends or family members on the path to financial freedom, .

Financial Coaching, Getting out of debt, Debt free, Financial Freedom