With debt piling up, savings gone, and your credit cards maxed out, how do you pull yourself out of the hole and get on the right financial path? The first step, of course, is to stop digging, which is what one Reddit user did after racking up over $16,000 in credit card debt. They also posted a list of things they did to make their debt go bye-bye and their Benjamins start to pile up. While it may not be quick or easy to get yourself back to being debt-free, there are definite steps you can take to get yourself into the world of financial freedom – and we’ll walk through one piece which reported on the Reddit forum, adding in experts and other information. How much of it is helpful and what isn’t? Depends on what section of the piece we’re talking about. Today, helping us dig in today is a crack team of internet stars. First, making her return trip to the basement is Chelsea Brennan (Smart Money Mamas), second, we’ll welcome Len Penzo (LenPenzo.com), and then we’ll say hello to the guy from our own podcast, OG.
How would you like to earn stock rewards from companies where you already shop? While you shouldn’t shop more to get rich (that won’t end pretty), it would be nice to get some extra stock just for buying pillowcases, right? We thought so too, and that’s why halfway through the show we’ll take a little break from our discussion while Joe rings up and chats with founder David Nelsen from Bumped.
Plus, after we subject entertain our roundtable with a round of Doug’s trivia we’ll break out the Magnifying Glass and answer a listener voicemail from Tyson. His 401k plan is expensive. How does he control his costs of investing for retirement?
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Show Notes:
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<7:18> Headlines
Our Contributers
Chelsea Brennan
You can find more from Chelsea at her site: Smart Money Mamas
Drop a line to Chelsea on Twitter: @SmartMoneyMamas
Paula Pant
Check Out Paula’s site and amazing podcast: AffordAnything.com
Follow Paula on Twitter: @AffordAnything
OG
For more on OG and his firm’s page, click here.
<34:15> Bumped
A big thanks to David Nelsen for talking to us about Bumped!
Want to learn more about the company? You can check out their site and join the waitlist at: Bumped.com
<46:27> Doug’s Trivia
- How much revenue did New York City receive from parking tickets in 2015?
<58:32> Magnify Money Question
- Tyson’s 401k plan is expensive. How does he control his costs of investing for retirement?
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