Farren’s Success Story….

I received an email from a reader named Farren. Farren was in the middle of taking my FinishRich Coaching Program, and he was writing to let me know that even though he hadn’t yet finished the course, his entire life had already completely changed. In less than eight months, he had gone from being stressed out over his finances to being out of credit card debt and on his way to a dream trip—seven weeks in Australia with his wife and two young sons.

As I read his email, it really hit me—it’s all about mindset and action. Farren’s mindset had changed, and as a result so had his actions.

Here’s the original email Farren sent me. I want you to read it because there’s so much in it to learn from. The fact is, you too can enjoy this type of success.

David, I just wanted to send a quick email to thank you once again for providing a great product/service and resource. I have listened to the CDs, watched the DVDs, read your book “Start Over, Finish Rich,” implemented the strategies, and changed my mindset! My wife, Amelia, implemented our latte factor and started looking at our overall expenses or consumables.  Things we could really get out of our life and stop spending money on right away and then… how can we also look at our different bills and cut them out.  The TV, the direct TV.  Things that are small, but as you add them up with the whole, it’s really a lot of money.

In less than a year, we’ve paid off $12,000 in American Express credit card debt, drastically reduced our monthly expenses, created a financial future with less stress, and – drum roll, please – the most exciting thing is that we are taking 7 weeks off for a family trip to Australia! (And I was able to pay cash for the $6k airfare!)  My wife and two boys age 5 and 8 years old are so excited.

 I took a picture of our little home savings jar that we used as a visual reminder for our kids and ourselves to see what we were saving for and how much we were saving. My kids are now excited to save. When they find a nickel or a penny – even change in my car – they run to the kitchen to put money into our “Australia Fund.”

Really life-changing stuff… so thanks to you and your team for their financial wisdom. These are troubled times for some, but with a plan and a coach, there’s nothing stopping you from the greatest life change you can do … understanding how to be financially free!

Cheers to you guys and “hi 5”! Thanks again!
Live your dream,
Farren W.

I wrote back to Farren immediately, telling him how amazing I thought his email was. “I love how you changed your mindset, took action and involved your family!” I wrote him. “You are an amazing example of how quickly you can get out of debt and start LIVING YOUR DREAMS. Nearly two months in Australia—sounds incredible!”

Farren’s response was as inspiring as his first note

We have just barely implemented your systems and still have made significant changes and progress. But it’s really like you said—it’s all about mindset and action. If you are married, you really have to have a “come to Jesus” meeting with your significant other. Look at ways you are both wasting money, create a goal, and go after it. A visual reminder like the jar in our kitchen also really helps. And if you can get the kids involved and excited, that can make all of the difference.

Farren’s story touches me for many reasons—and maybe it touches you, too.

Even though Farren was in debt, he was still willing to invest in himself to learn more about handling money and building wealth. With the benefit of what he learned, he changed his mindset and he took action. He’d didn’t over-think it—he just got going. He also involved his whole family in his dream of being debt free. He sat down with his wife and had the hard talk about looking for ways to cut back on spending. Then they created a visual aid (the money jar) to help them save money—and they got their kids to participate. As a result of all this, in just eight months, Farren was able to pay off a $12,000 credit card debt—and on top of that save enough to be able to pay cash for $6,000 in plane tickets and take his family on a two-month dream trip to Australia.

I mean, really—it’s a story that can make you jealous. Here’s a couple in debt, struggling to keep their heads above water, and in less than a year their whole life is turned around—simply as a result of changing their mindset and taking action (plus a little bit of coaching and education).


If this story inspired you like it did me- please leave a comment below and share it with your family and friends.

Live Rich!
David Bach – How to Build Credit When You’re In Debt

Visit for breaking news, world news, and news about the economy

Do you want to know how to build your credit score when you’re in debt? Well, this week that’s exactly what I discussed on, so watch the segment above to find out what you can do!

Email Question From Mary:

I went on a Debt Management Plan about 2 and a half years ago. I want to start rebuilding my credit. I’ve looked at pre-paid credit cards, but I am not sure this is the best way to go. Do you have any suggestions on how to start rebuilding my credit now? Or do I have to wait until the Debt Management Plan is complete?

My advice:

-          Go apply for a credit card, NOT a debit card.

-          Go to and look for a credit cards that right for you.

-          Only get one that has a small limit on it, $1,000 – $3,000.

-          Use the card WISELY, and pay it off every month!

Live Rich,

David Bach – Pay For Your Kid’s College Without Being Taxed

This week on our question comes from Robert: My Daughter is graduating medical school with over $200,000 in school loans, both private and federal. My wife and I have a substantial nest egg, where we could pay off at least half of her outstanding loans. What would the tax implications if we do this?

Watch above to find out how you can help pay off your child’s college loans without having to pay taxes. 

Live Rich,

David Bach


How To Use Your Credit Cards Without Accumulating Debt

In the upcoming weeks, I will be answering viewer’s questions on, so make sure to watch out for my videos to see if I answer YOUR money question.

This week, I answered an email question from Danika. She wanted to know about the best way to use reward credit cards without getting into debt. Check out my tips for her and hopefully they will help you too!  

Question from Danika: I’m 31 years old and self-employed. Credit cards and debt scare me. I have the philosophy, if I don’t have the money I can’t do it. I would like to start using a credit card for my businesses to try and take advantage of rewards. Can you give me some advice on how to start using them without going into debt?

My advice to make sure she doesnt get into debt:
- Pay off credit card in full ever single month.
- Think about all your monthly purchases in advance.
- Give yourself a spending limit.

My Advice to find a GREAT rewards card:
- Shop around for the best rewards at
- Get 50,000 points automatically.
- Look for cards based on the rewards you want.

Hope this helps you!

Live Rich,

David Bach


NBC’s Today Show – Money 911 – February 15, 2012

In case you missed me this morning on NBC’s Today Show – Money 911 – make sure to check it out now! We answered questions about getting your name off of a co-signed loan, tax deductions if you work at home, and what to do if you remarry someone that has debt when you have savings.

Let me know if this segment helped you by commenting below!

Live Rich,
David Bach

TODAYLogo – Should I Go Back to School for a New Career?

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I already have $30,000 worth of loans from my first degree. Should I keep working minimum wage dead end jobs to pay off this debt or work on getting into a field that will provide financial stability?

My advice:
- Continue working your current job and look for a new opportunity.
- Save money for the next 6 months to a year.
- Go back to school to launch a new career.

Live Rich,

David Bach


My Exclusive Interview With John Assaraf

Check out the thought-provoking interview I did with my good friend and New York Times bestselling Author of The Answer and Having It All – John Assaraf.

In this interview you will learn:

  • Critical rules of investing
  • My perfect pie investment approach to help secure your financial future
  • The #1 investment habit you must adopt before it’s too late
  • The best method to reduce your interest rates and pay off your debts—fast!
  • The single most important decision you can make right now to get out of debt
  • A mortgage oversight that banks sometimes never tell you about
  • Pitfalls to avoid when refinancing your mortgages
  • And much, much more!

Enjoy and let me know what you think by commenting below!

Live Rich,
David Bach

P.S. Make sure to vote for me in on 12 Days of Finance: Who Is the Most Popular Expert of 2011?

My 5 Quick Tips to Get Financially Fit in 2012

Heading into the New Year everyone wants to know, what they can do to get financially fit–fast! Well, here are my five pieces of financial advice for 2012 …drum roll!

1) PAY YOURSELF FIRST. That means the moment you earn a dollar, you direct at least the first hour of income in the day to a retirement account (like a 401k plan, IRA, Roth IRA or SEP IRA).

2) SAVE MONEY AUTOMATICALLY. That means that everything you save for yourself, make the money move automatically. You have your earnings deposited automatically for you, and it’s moved automatically at your bank into the various savings accounts you set up for retirement, emergency, college savings, home etc.

3) PAY DOWN YOUR DEBT. If you have credit card debt, rather than worry about investing right now focusing on paying the credit card debt down. Go to and download my tool to help you pay down your debt or go to Debt Wise which is a site I promote with Equifax that helps you pay down your debt -automatically, saving you time and money (in interest) in the process! Debt reduction is the key to financial security and freedom…so get serious about paying it down in 2012.

4) REFINANCE YOUR MORTGAGE FROM 30 YEAR TO 15 YEAR. If you can afford to make extra payments on your mortgage – do it! If you are really ready to get serious about being debt free, refinance from a 30 year to a 15 year mortgage. The rates on mortgages are the lowest that we have practically ever seen, and now is a great time to do this.

5) GET SMART FINANCIALLY. To me the best investment you can make financially in 2012 will be in your own financial education. Learn more, read books, take classes,  and make sure to tune in to NBC’s TODAY show – Money 911 each week, visit the section of … make learning about money a priority,  learning everything you can about YOUR MONEY, what you own and what you can to invest. Financial education is a MUST in 2012!

Live Rich!

David Bach


hat new years

Should You Consolidate Your Debt?

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Hi all,

Each week, for the next 8 weeks, I will be answering questions from viewers of NBC’s TODAY Show on Check out my first Q&A on the topic of debt consolidation. Get my advice on consolidating debt from multiple credit cards and then learn the mistakes many people make when doing it.

Live Rich,

David Bach