How to Make Progress on Your Money Goals in a Down Market

The Rachel Cruze Show

Ramsey Network

Self-improvement, Education, Investing, Business

4.8 • 3.6K Ratings

🗓️ 26 September 2022

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is all about being as smart as possible with your hard-earned income! We’ll talk about what to do when the market’s down (hint: don’t panic) and how to pay off your debt in less than two years so you can start building wealth for the future. Then, we’ll wrap up with a conversation on buyer’s remorse and how to avoid it at all costs. In this episode: · 8 Best Financial Practices to Have in a Down Market · How to Pay Off $23,000 of Debt in Less Than 2 Years · 6 Ways I Avoid Buyer’s Remorse Helpful Resources: Christian Healthcare Ministries Financial Peace University EveryDollar Sponsors pay the producer of this show, The Lampo Group, LLC, advertising fees for mentioning their services or products during programming. Advertising fees are not based upon or otherwise tied to any product sale or business transacted between any consumer or sponsor. The following sponsors have paid for the programming you are viewing: Christian Healthcare Ministries. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	In order to make progress with your money, if you're not happy with the current situation
0:09.6	you're in or you're feeling the pinch of inflation, there may be things that you have to do
0:14.3	in this short term to really get that long term piece.
0:17.7	So it is worth it.
0:18.7	I'm telling you, it's not going to be forever.
0:20.7	Hey guys, welcome to this episode of the Rachel Crucio podcast.
0:26.1	I'm so glad that you're here.
0:28.3	So in this episode, we're going to talk about how to make progress on your money goals
0:32.3	even in the midst of a down market.
0:34.5	I'll go over my checklist to help you avoid buyers remorse because we've all been there,
0:40.9	but we don't have to make it a habit.
0:42.3	Then I'm going to go over how to pay off $23,325 in debt in less than two years.
0:50.5	But first, let's talk about eight of the best financial practices to have in a down market.
0:55.8	Take a listen.
0:56.8	So the Consumer Price Index, which is a key measurement of inflation rose, 9.1% in June
1:05.5	of this year according to the U.S. Department of Labor.
1:08.7	So this is the fastest pace of inflation since December of 1981.
1:14.0	And we keep here an inflation, inflation, inflation.
1:16.9	Why is it important to know is because it does directly affect us, the consumer, which
1:21.0	I know you feel day in and day out and it comes to your money.
1:24.5	But here's what's fascinating, according to researchers at the Heritage Foundation,
1:29.0	it amounts to $3400 yearly of an income decrease for the average worker.
	...

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