Focus: One Step at a Time
Right now you may be feeling quite overwhelmed with the mountain you are attempting to climb. You have set some goals and been dreaming about the future and what it could hold. You might be tempted to try to do everything at once (build a savings, pay down debt, save for retirement and kid's college). The key to accomplishing your goals (especially if they include paying down debt) is to have focused intensity over the long haul. Trying to do it all at once will dilute your efforts. You won't see progress and you'll quit because you are discouraged. Dave Ramsey's method, that I teach, uses the power of focus to get out of debt and build wealth. This is NOT a microwave get rich quick approach. It's a slow cooker, change your life in the process, one 'baby step' at a time approach.
Instead of homework, I want to introduce you to Dave's 7 Baby Steps. I will go into much more depth in the future about why each step works in this order.
1. Save $1000 baby emergency fund as a cushion between you and life.
2. The debt snowball- pay off all debt (except for the house).
3. Save a full emergency fund of 3-6 months of expenses.
4. Start (or resume) saving 15% for retirement.
5. Save for kids college.
6. Pay off house early.
7. Build wealth and give like no one else."Goals provide the energy source that powers our lives. One of the best ways we can get the most from the energy we have is to focus it. That is what goals can do for us; concentrate our energy." Denis Waitley
"One reason so few of us achieve what we truly want is that we never direct our focus; we never concentrate our power. Most people dabble their way through life, never deciding to master anything in particular." Tony Robbins
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