GET MOTIVATED BY SUCCESS!

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 FARREN CAN DO IT, WHY CAN’T YOU?

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

 

Go Green, Live Rich (From oprah.com)

Jean Chatzky

Do you want to save money and become more environmentally conscious at the same time? I talked to Jean about my book Go Green, Live Rich: 50 Simple Ways to Save the Earth and Get Rich Trying and about how my family is saving money and living better through a green lifestyle. Plus, Jean talks with journalist Bill Kurtis about his goal to raise beef that is better for the environment through his large-scale, grass-fed cattle business, Tallgrass Beef.

Click HERE to listen to the interview on oprah.com!

6 Ways a Nonprofit Counselor Can Help You (From oprah.com)

Nonprofit credit counseling

Four years ago one, of my closest friends, Bill, came to me to share he was more than $100,000 in credit card debt. Bill needed more then a Debt Diet—he needed professional nonprofit consumer counseling. Fortunately, that’s exactly what he got, and last month Bill became officially debt-free! Bill’s not alone. Each year, millions of Americans turn to nonprofit credit counseling to help them get out of credit card debt. When people turn to these organizations, they have, on average, more than $20,000 in credit card debt. With that said, you don’t need to be this far in debt to get professional help. I’m an advocate of getting nonprofit credit card counseling if you feel you can’t get out of debt yourself. If you’re having trouble paying your bills on time, are only making minimum payments or have skyrocketed interest rates on your cards and can’t make a dent in the debt, it may be time to get some professional help. The key, however, is to get “trustworthy, honest help” from a reputable nonprofit credit counselor. Let’s take a look at what these organizations can do for you.

To read rest of the article on oprah.com, click HERE!

Deal with Your Credit Card Debt (From oprah.com)

Credit card debt

If You Can’t Afford to Make the Minimum Payments, Here’s What You Should Do

First, take advantage of Help With My Credit, a resource for struggling consumers created by a group of major card issuers, including Bank of America, Capital One, Citi, and Discover Card, plus the MasterCard and Visa networks. The service—which is available through both a toll-free number, (866) 941-1030, and a website—offers tips on managing your credit cards, communicating with the card companies, and finding an accredited credit counselor.

To read rest of my article on dealing with your credit card debt on oprah.com, click HERE!

The 10-Step Plan to Improve Your Credit Score (From oprah.com)

Credit score

So let’s get started. The simple truth is that raising your score isn’t that hard if you know what to do. It just takes time. As I noted above, it’s mainly a matter of understanding the factors that FICO weighs and then figuring out which of them you can change for the better. Over the years, I’ve coached literally thousands of people on fixing their credit scores, and based on that experience I’ve developed a 10-step action plan to get your score up quickly and keep it there. I promise you—regardless of where you are starting from, if you follow this plan, in six months your score will be higher than you thought possible.

Click HERE to read rest of my article on oprah.com!

Which Records Should You Keep and Which Can You Ditch? (From oprah.com)

Financial records you don't need
The reason I made the FinishRich File Folder System so specific is that many of us keep too much information for way too long. (I’m guilty of this myself.) The fact is, except in cases involving fraud, the statute of limitations on income-tax returns is only three years, so the Internal Revenue Service does not expect you to hang on to tax records and receipts for any longer than that. The main exceptions to this are if you’ve underreported your income (in which case you should keep your records for six years) or have claimed a loss from worthless securities (seven years).

Click HERE to read rest of my article on oprah.com!

David Bach’s File Folder System (From oprah.com)

Organize your files.

Let’s face it—organizing your finances can be a real chore. Every month, you get sent dozens of statements, bills, and other financial documents in the mail and online. It can be overwhelming. The good news is that there’s a way to get organized that’s amazingly easy and relatively painless—a system that allows you to find your bills and important documents quickly and without worry.

Click HERE to read rest of my article on oprah.com.