Simple Steps to Financial Freedom

Ken McElroy Show

Ken McElroy

Business, Investing, Education, Business News, News

4.8 • 692 Ratings

🗓️ 27 April 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join Danille as she walks through the 4 things that you can do to reduce your debt and move towards financial freedom.Want to ask Ken a question or have him look over a deal? Sign up for a Premium Membership: https://kensinnercircle.comJoin Ken at his live in-person event in June: https://limitlessexpo.com/• • •Visit Ken's Bookstore: https://kenmcelroy.com/books/•ABOUT KEN:Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.Ken's company: https://mccompanies.com/• DISCLAIMERS: Any information or advice available on this channel is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this channel. Consult a financial advisor or other wealth management professional before you make investments of any kind. Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this channel are accurate and up-to-date, all information contained on it is provided ‘as is.’Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this channel. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites.All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate. Comments which are off-topic, offensive or promotional will not be posted. The comments/posts are from members of the public and do not necessarily reflect the views of Ken McElroy and his affiliates. 2021 KenMcElroy.com, LLC. All Rights Reserved.#kenmcelroy #LiveStream #realestateinvesting

Transcript

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0:00.0	Welcome to the Real Estate Strategies Podcast, where we host in-depth conversations on everything
0:07.8	real estate with the industry's biggest movers and shakers. I'm your host, Ken McElroy, joined by my
0:14.0	co-host, DeNeal. Let's get right into this episode. Welcome to the Ken Macquarie podcast. I'm your
0:19.8	host, DeNeil, here hosting for Ken
0:22.6	because he is out traveling. So I wanted to put together a good podcast for everyone that I feel
0:27.8	like could be beneficial. And one thing I think a lot of you are struggling with is having debt
0:32.8	and working on paying off debt. So something that I did in my 20s is I wasn't a lot of debt. I had a car payment,
0:39.6	credit card bills, an additional loan payment, and I felt like just, you know, unattainable that I
0:45.5	would ever pay that off. And I was going in more and more debt every single month. So what I was
0:49.8	able to do is I was able to move home because I was like 24 25 years old and work two jobs and get that all paid off.
0:57.0	But I know a lot of you, you know, you can't just move back home because maybe you're older, maybe you have a family,
1:02.0	maybe your parents don't live in the same area that you do.
1:05.0	So I put together ways that you can pay off debt quickly and I used a lot of these ways when I was working on paying off
1:12.1	my debt. The first thing you need to do, and you have to do this, is use a spreadsheet. Because if you're
1:17.5	not physically tracking it, there's no way you're going to be able to pay attention to it. When I hear
1:23.5	people say, oh, I'm going to cut back on my expenses, oh, I'm going to really monitor my money.
1:28.7	If you're not tracking every single thing, there's no way you're going to be successful in doing this.
1:35.0	And for those of you that have tried to do it without tracking your money, you know what I mean.
1:39.6	You have to know where every dollar's coming from and where every dollar is going.
1:44.1	So the way I do
1:45.0	it is super basic. I just use my notepad app on my iPhone and I just write down every single
1:51.0	expense I have rounded to the highest dollar. So if it's 2650, I round it to 27. I have a food
	...

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