This one goes out to all my overachievers out there. Even if you feel confident with the basics of wealth building, there may be some areas that you're overlooking. So today we're going to unpack some of the common things that people tend to overlook when trying to build wealth. Now make sure to like, subscribe, and share this episode with a friend. All right, let's jump in. We're going to go right to the list, y'all, which I love. Number one, you may be overlooking if you have savings but still carry debt. So this happens a lot. So people call into the Ramsey show and they're like, hey, you know, we have $13,000 of debt and we're going to start working our way out. And I'm like, great, do you have any savings? And like, yeah, we got $6,000 over here. And we're like, oh, good, let's throw $5,000 at the debt and get this started. Because here's the thing, your debt is costing you. And people have this mindset of like, I want to have a ton of money and savings before I start paying off debt because $1,000, which is what we teach, as your starter emergency fund, it's not enough, all of us. And what we find is it takes so long to build up that savings that you never really make traction on the thing that's actually eating away your income, which is your debt. Like you are paying interest on these things when you're paying debt. So it's not only the payment, but it's everything on top of it. And when you can get that done as fast as possible, then you can start building up big savings. So that $1,000 emergency fund, it's there. It can feel very uncomfortable I get for a lot of people. But if something big happens,

pause your debt snowball and everything that you were momentally putting towards your debt,

use that for the emergency that you have, right? If you need more money than $1,000,

you can get to it. And usually for anything that is above $1,000, you'll get a bill,

you'll have probably a month or two to pay for it so you can figure out ways around it to cash flow it. But this idea of like, oh, I just want to keep a bunch of

savings, that is costing you. Number two, your emergency savings is in a regular checking account.

So listen, y'all, move it. Move it. Because when you log into your checking account,

you're going to feel like, oh, my gosh, we have all this money. And if we need to use the little here or there, there's like, it's easy. It's just we're all right there, right? It's the same account that you're emotionally used to spending out of. So what I want you to do is I want you to move it to a high yield savings account. Usually an online bank is great for this. Fair wins is a great credit union

that you can put your money there. But this idea of having your money in a separate account emotionally kind of separates it. So to get to it, I want you to be able to, like I want you to have a card associated with that account because if you've got to use your emergency fund, you want to be able to use it. You don't want it in an investment somewhere that you can't

get to. But also, you want a little bit more friction than just your everyday checking account.

All right, number three, your house payment exceeds 25% of your monthly pay. So owning a home,

it is a big goal. Like, it is a massive accomplishment when you get to do that.

But if you're spending up to 30, 40, 50% of your income just to maintain a mortgage,

you do not have enough money left in your budget, in your income, to do the other things in

life that you need to do.

And so what we find is so often people will

get a house beyond that 25%. And then what's hard is, you know, you think about it, you got to,

you know, invest, you want to give. Like, there's other things you want to be doing with money,

not just paying a massive mortgage payment. So that either means, one, it's going to take you

longer to save up for a house so that your mortgage payment is less that either means, one, it's going to take you longer to save up for a house

so that your mortgage payment is less than if you went in with not a lot of money down. So maybe

it takes a little bit longer to save. Maybe it's your expectation of the actual house or the area

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