1378: How to Get One Month Ahead Financially by Robert Farrington of The College Investor

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Self-improvement, Education, Business, Investing

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🗓️ 17 December 2020

⏱️ 10 minutes

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Summary

Robert Farrington of The College Investor talks about how to get one month ahead financially. Episode 1378: How to Get One Month Ahead Financially by Robert Farrington of The College Investor Robert Farrington is a personal finance expert that focuses on helping millennials get out of student loan debt and start investing for their future. He also helps parents make smart choices about college financing options and navigating the complex world of paying for school. He started The College Investor in 2009 as a forum to discuss the myriad of financial issues facing young adults. The original post is located here: https://thecollegeinvestor.com/17046/how-to-get-one-month-ahead-financially/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? Visit https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is optimal finance daily episode 1378.
0:04.4	How to get one month ahead financially
0:07.2	by Robert Farrington of the college investor.com
0:10.8	and I'm your host and personal finance enthusiast, Diana Merriam.
0:15.0	This is the show where I serenage you with the sweet sounds of personal finance knowledge
0:20.0	from some of the best blogs on the planet.
0:23.0	For now, let's get right to today's post and start optimizing your life.
0:28.0	How to Get One month ahead financially by Robert Farrington of the College Investor.com
0:38.4	Does getting one month ahead financially sound like a fantasy?
0:43.5	It doesn't have to be.
0:45.0	A recent study commissioned by Discover Personal Loans
0:48.9	found that many respondents understand the importance of paying off debt and increasing their savings,
0:54.0	but aren't making near the progress on those goals that they'd like to.
0:58.0	This isn't surprising, especially since 60% of the survey respondents reported dipping into savings to pay monthly expenses in the past five years.
1:09.0	Also 38% were trying to save to pay off debt. The thing is, if you're working hard to pay off your debt,
1:15.7	save for retirement and build up your savings, minor unforeseen expenses can completely
1:21.2	throw you off track and restart the paycheck to paycheck cycle.
1:25.0	If you really want to make financial headway, you need to break that cycle.
1:29.0	A good place to start is getting one month ahead of your expenses.
1:34.0	Acknowledge your situation.
1:37.0	Before you can realistically get ahead, you need to acknowledge your situation.
1:41.0	If you pretend you're okay, avoid looking at your bills, and completely dismiss the fact
	...

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