This Couple Has $84k in Debt So I OVERHAULED Their Budget | Budget Reno E1

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Disclaimer: I am not a financial advisor. This advice is VERY specific to Adam and Destinee. Do your own research before making serious financial decisions!

Adam and Destinee's financial journey started off on the wrong foot, with credit card sign-up bonuses leading to a mountain of debt and a lack of budgeting. Living paycheck to paycheck, they felt trapped. Join us as we dive deep into their finances and embark on a Budget Reno mission to transform their financial future. From dissecting their spending habits to crafting a practical plan, you'll learn valuable lessons to apply to your own finances. Plus, find out how Adam and Destinee can break free from debt and achieve financial freedom.

In this video, I go through Adam and Destinee’s whole budget. I critique their spending habits, help them cut expenses, then help them find ways they can be more intensional with the money they have. This means cutting up their credit cards and focusing all their attention on paying off their $84k in debt as quickly as they can.

I also walk them through the Ramsey baby steps to help them in their financial journey. This means saving an initial starter emergency fund before paying off all their debt with gazelle intensity. Then saving enough for a 3-6 month emergency, saving 15% of their income towards retirement, saving for kid’s college, and paying off their home early. I made a lot of tough suggestions. But I know they can accomplish this feet!

Timestamps:
0:00 - Intro
0:49 - Adam and Destinee’s Spending Problem
2:08 - Full Breakdown of Debts
4:14 - The Total Monthly Expenses and Income
5:44 - Their Initial Debt Payoff Timeline
7:00 - The MASSIVE Credit Card Problem
11:00 - Stop the Investing
13:00 - EXACTLY Which Expenses to Cut
17:41 - Going Through the Baby Steps
19:33 - How to Increase Income and What Items to Sell
23:36 - Sell the House??
26:07 - The Remaining Baby Steps
26:31 - They HAVE to Get on The SAME Page
28:06 - Adam’s Reaction to My Budget Renovation
29:24 - Sign Up for a Budget Reno!

#budgetrenovation #calebbale #debtpayoff

📒 Notes and Resources 📒

⚡️MY FAVORITE DEBIT CARDS⚡️
🎬Discover Cashback Debit Card Review: https://youtu.be/4hSAiFkXXp8

⚡️BEST FINTECH REVIEWS⚡️
🎬Best Budget Apps! https://youtu.be/i8rxcO0TC5w
🎬Best Cashback Debit Cards! https://youtu.be/ACSQ8Zzdss4
🎬Best Bank Accounts to Fight Inflation: https://youtu.be/k9YI3WKvk5E

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⚡️DISCLAIMER⚡️
Do your own research. My content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional financial advisor when considering your retirement options. Though I teach financial principals, I am not an investment advisor and none of my advice constitutes legal, tax, or investment as a professional. Everything I share is based on my own research and is intended for your benefit. Any financial technology reviews are intended for your benefit. Research each product yourself to determine if they are right for you.

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