Name Every Dollar

More Money Will Not Help You

Name every dollar and you won’t go broke. You get a raise every year and you are still broke and deep in debt. Your tax refund came in and for some reason two weeks later you are broke again and piled up more debt. You are one paycheck away from a financial disaster. What are your options? What can you do?

You can get a second and third job. Chances are you will spend that money, too. Go ahead and start a business. Do you have the time and patience to learn a business and make it successful? What business will you start? Will it be offline or online? Will your spouse or partner agree? Do you have the money to really invest or will you listen to some expert and go into more debt with a venture you don’t understand? Oh yeah, you are still broke.

More money will not solve your problems. Most people get raises and windfalls and still live from paycheck to paycheck. Athletes and entertainers make a boatload of money and end up broke. More income is not a problem solver. Naming every dollar is.

Beating Personal Debt

I beat debt by naming every dollar and coming up with a monthly budget. Also, owing the IRS, the state franchise board, student loans, personal loans, business loans, and credit cards. Furthermore, when I decided that I was going to become debt-free, and even put #DebtFree2014 on my Instagram photos. I picked up the book The Total Money Makeover, by Dave Ramsey. I read it 5 times within 7 days and implemented…