Debt Demolition: Strategies to Blast your Balances - RFS'24 W4
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- Опубліковано 14 лип 2024
- Arm yourself with a plan to attack debt and understand the power of compounding. Break free from the spending cycle and shield yourself with an emergency fund. Negotiate your way to lower interest rates and financial freedom.
Pain Point: Burdened by debt? Debt = financial slavery; time to break free. Learn effective strategies to pay off debt faster and regain control of your financial future.
POLL: How would you cope with an unexpected expense of £788?
s.zoom.us/m/bPvves6P3
00:00 The power of compounding
25:02 How we get into debt
1:14:33 The Debt Attack Strategy. How to get out of debt
LINKS MENTIONED
-- Week 3 Money mindset - how to smash the beliefs that are holding you back - ua-cam.com/users/liveDyceZKvrJOI
-- Week 3 Money mindset Q&A - follow along as we smash some of the beliefs Will has that are holding him back ua-cam.com/users/liven9sP0s3r1V4
-- Week 1 Mind the gap - how to increase your gap ua-cam.com/users/livejyZfBwWk3Ak
- Salary trap how to boost your income ua-cam.com/users/liveUnLERnl4iLU
-- Live large on a small budget ua-cam.com/users/live40jn0aAa6B8
-- How do you spot a scam? www.fca.org.uk/investsmart/hy...
-- Should I pay off my mortgage or invest
rebeldonegans.com/finance/inv...
-- My mortgage / student loan is over 5% interest, what should I do?
rebeldonegans.com/finance/inv...
-- Should I pay off my student loans? rebeldonegans.com/finance/tak...
-- Debt attack strategy: rebeldonegans.com/finance/tak...
-- Debt attack calculator: rebeldonegans.com/finance/res...
This UA-cam 🎥 is part of a 10 week course called Rebel Finance School 🏫. For access to the notes 📝, spreadsheets 📊 and more than accompany the course please sign up here: (www.rebelfinanceschool.com) 🌐
If you have questions related to the content please enter them here: forms.gle/Fiom4ziwmAhGeNT8A These questions will form the basis of our live Thursday Q&A sessions as well as the website FAQ doc.
Disclaimer: we are not financial advisers 💼 This is not financial advice 💰. We are not regulated. We are not trained financial advisors 🎓 We are never going to try and sell you anything 🛍️ You make your decisions 💭 Sharing our opinions and ideas 💡 These ideas may not continue to work for us or for you. You are 100% responsible for your financial future 💸 There are no guarantees here. For our full disclaimer please visit: rebeldonegans.com/about-us/di...
#RFS24 #RebelFinanceSchool #PersonalFinance #FinancialLiteracy #FinancialIndependence #TheDonegans
Thankyou for everything you do. This information is changing my life!!!
@@katecarvalho9294 aw it’s our pleasure. Thank you for such a lovely comment. It’s things like that inspire us to do more so thank you for taking the time to tell us ❤️❤️❤️
Bless you donnegans for spending your energy on educating the populas for free. This is HANDS DOWN the best class to exist. Life changing if people heed it.
@@nikiclaypool8800 Niki what a wonderful comment! Thank you so much for commenting. It’s comments like yours and messages like yours that give us energy and keep us going.
Good morning! I love you guys. Thank you for this video.
Blessings always.
@@user-ew7dz4gj3q what a lovely message! Right back at ya! Sending happiness
Just amazing! Thank you Donegans and Rebel Ninjas! LOVE the explanation on compound interest and how it can be your greatest strength or your destruction 👏🤩🫶❤️❤️❤️
Thank you Christina! We really enjoyed working on that new way of explaining it. I love Gappy Gloria! I love any excuse to make a graph 📈 Katie ❤️👍🏼🍍🥰
@@rebeldonegans the graphs r AWESOME 🤩
@@christinab9133 I love Katie’s graphs too!!
Fab session - watching in NZ on catch up! I have had a tremendous week thats to you guys! Widened gap by spending less and got a decent payrise too! I learnt form section one - to set up a direct debit into act. for $200 a month :)
@@cheekiemonkie1969 amazing work!! Wow. Congratulations on the pay rise and your progress. This made us so happy to read this morning as we wake up! 🙌
Insightful on compounding
Thank you Samuel! We worked hard on that part of the course!
Very nice watch me and wife love it 😻 big fan keep it up 👍
@@Norfolkpaul Paul you are wonderful! That was a big session! Thanks for tuning in
I am 35 in the US and just wondering, when you get to the investment bits, about being able to access my accounts before I am of retirement age. I have a 401k but that won’t be able to be liquid for decades, so hoping you will be addressing different types of accounts (I’m clueless haha) where if we invest we are able to access and not have it just sit there for 30 years? Also hoping to learn more about stock apps to invest my gap but being able to access any money I make as well. Ty guys love the course!
@@ericatomat I am afraid we are not the experts on the American tax pieces however I do have two things for you. The first is I have heard of the Roth conversion ladder and I know that the Mad Fientist website covers all of this! His content is fantastic, and I recommend you go and visit Brandon’s website.
Secondly, we have brad from ChooseFI coming on the Rebel Finance School for week eight so I would tune into that one as he will be going through all of the American bits!
Hello I am in the us and know the answer to this question. I also follow Brad at choose fi and there are a few different strategies for getting your money out early. 1) Roth IRA conversion ladder that mad fientist speaks of and this involves having a pot of money to use for 5 years while you were waiting for your conversions. You can also invest in a taxable brokerage account. You can open these at Schwab and m1 finance etc just like you do an IRA for a Roth IRA. The difference is you don't get any tax preference like you do on the retirement accounts and you pay taxes on the money when you withdraw it. Good thing about being in the US though is that you are taxed favorably if you hold the investments for over the year, sometimes 0% at the federal level if you make under a certain amount of money. Another option if you had to, you can always get out your contributions out of the Roth but not the growth at any time. This is the least favorable option because you were taking your soldiers out of the game of compounding but it is possible. I am not a tax professional or a finance professional but I do love finance and have looked into all this myself. There are several episodes on choose fi about this that you can find also. Hope this helps