This will tick off a lot of Dave Ramsey fans, especially coming from a Ramsey Preferred Coach.
You don’t have to go “scorched earth”, all-or-nothing where your lifestyle is down to NOTHING in order to get out of debt and save your emergency fund.
It puts you in an “either, or” mentality, which isn’t sustainable for most people long term and you burn out.
So, you fall off the wagon because you feel your choice is your money goal OR other important priorities.
BOTH can be done!
This is what happened with my graduated client “K,” who previously worked with a financial coach on budgeting, but money still felt anxious and stressful.
We took a different approach that WORKED.
She said during our consultation: “Tracy, I want to eat healthy and lose weight, but I also want to pay off this dang debt. I feel like I can’t do both. Healthy food is SO expensive, but I’m also SICK of these student loans!”
Have you ever thought that to pay off debt or grow your bank account, you need to sacrifice until the sun don’t shine until you reach your goal?
I’ve found that while intense focus IS needed for progress in your money goals, what’s more important is changing your relationship with money to make your progress permanent.
“K” already knew how to budget.
When she did NOTHING ELSE but pay off debt, she fell off the wagon.
Friends, that balance of intensity and enjoyment with your money is key to stay ON the wagon for the long term.
We touched her budget ONE time during our 6 months together.
Instead, we focused on her money beliefs, how they held her back, and developed new mindsets around her “either, or” mentality.
She had salon days and a therapist because self-care is important to her.
And, while we worked together life threw punches.
From car accidents, HOA drama and fear of losing her job, she had A LOT of unexpected expenses.
It would have been easy for her to slip back into “scorched earth mode,”
but we worked through her head trash that these expenses were extending her debt free timeline.
We did a check in 6 months after she graduated.
“Life is SO different! Money feels relaxed. I learned the balance between self care, budget and intensity. I used to have a ‘one or the other’ mentality, but I learned that for habits to REALLY stick, I need to focus more on my mindset around money than just trying to reach a goal.
I’ve also paid off $20,000 of my student loans since we last met!
And, my faith has grown deeper as you showed me what the Bible REALLY says about money, and pointed me to trust Jesus as my provider.”
I know you’re ready to stop the “either, or” mentality with paying off debt, growing your bank account, and having confidence with your money.
Book a call with me to set up a Money Strategy Session!
We will see if my Steward and Grow Method is a good fit to guide you from where you are to where you want to be with your finances and relationship with money!
You CAN be intentional with your money without having to go scorched earth!
