Young, Wise & Wealthy: Handle Money Wisely in Your 20s: Recent Episodes
Jacob Prater
Facing over $30,000 of debt after college graduation, Jacob Prater feared for his financial future. Certain that his current habits wouldn't lead to financial freedom, he decided to make a change and begin learning how to handle money wisely. In just fifteen months, he was able to pay off all of his debt and replace his fears with freedom, confidence, and peace. Now Jacob is committed to helping you do the same! Join him as he shares the proven principles, habits, and processes that lead to true financial freedom and handling money wisely in your 20s. You'll learn how to put together a bulletproof plan to spend, save, give, and invest wisely to build lasting wealth, give generously, and live freely.
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It's a New Year! Which means people all over the world will be setting goals for the upcoming year. The problem is, most people don't stick to their goals! When it comes to our money goals this year, how do we actually stick to our goals, make progress, and achieve the goals we set in the New Year? I'm glad you asked! In this episode, I'll give you 4 steps to follow to crush your money goals this year!
Want some extra help? Book a free goal setting session and get on a plan to hit them!
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Sacrifice– it isn't necessarily our favorite word. Especially when it comes to our finances. However, the reality is, you are going to make sacrifices. The only question is if you will choose the right sacrifices now, or be forced to make sacrifices later.
In this episode, Jacob talks about the value of making purposeful sacrifices now, so you can build a solid, secure foundation, to start building true wealth and living life of financial freedom.
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Your most powerful wealth building tool is your income. When your income goes out the door to debt payments, you no longer have it and can't use it to enjoy your life and build wealth. The wisest financial move you can make in your 20s is to get out of debt!
When you are ready to get out of debt, you need a solid system to do so. In this episode, you'll learn why the debt snowball is a better approach to paying off debt that the debt avalanche, and how to do it!
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Book a free call with Jacob and start your own journey to financial freedom!
Building wealth is a lot of fun, but it is even more fun when you build it quickly and can give some away! In this episode, Jacob talks about the final Baby Step, Baby Step 7. By following the Baby Steps up to this point, you are debt free, have a fully funded emergency fund, have started building wealth by investing 15% of your income into retirement, are saving for your kids' education, and have paid off your house. The only things left to do now? Build wealth and be outragously generous.
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With rising housing costs all over the country, the thought of owning a home may seem nearly impossible. Can young folks afford to own a home anymore?
In this episode, you'll learn that not only is it possible, but you can even pay your home off early!
Imagine what you could do without a house payment!
You can get there if you follow these parameters:
- Save a 10-20% down payment on a 15-year, fixed rate mortgage, where the payment is no more than 25% of your take home pay.
Then, once you prioritize investing for your future and saving for your kids' education, if you have them, then you can throw any extra money you come across to pay off your home early!
Book a free call to start your journey to financial freedom!
What if you could set up your kids (or future kids) to complete their education totally debt free? Whether they choose college, trade school, certifications, or other educational routes, you can save them from thousands of dollars of student loan debt.
In this episode, you'll learn about the two accounts that can make this happen: the 529, and Educational Savings Account (ESA).
These tax advantaged accounts will give you the chance to invest your money toward your kids' future education, and ensure they earn the knowledge and skills they need completely debt free!
You'll learn how each one works and how to decide which is best for you.
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You won't be able to take advantage of these options if YOU don't have your finances in order. Book a free call with Jacob to get on a plan and start winning today!
What if I told you, not only is it possible to become a millionaire, but that you don't have to have a large income to do it? What if I told you that you SHOULD become a millionaire?
If you follow the advice in this episode, you will! It's not clickbait, it's not get-rich-quick. It's just math.
Jacob breaks down Baby Step 4: Invest 15% of your income into retirement.
You'll learn the difference between Roth and Traditional retirement accounts, the order you should invest in these accounts, and what types of funds to invest into.
CHEAT SHEET:
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Match beats Roth beats Traditional
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Invest 15% of your gross income into growth stock mutual funds with long, proven track records
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Diversify evenly across 4 types of mutual funds: growth, growth and income, agressive growth, and international
Ready to start investing? Find a SmartVestor Pro!
Ready to get on a personalized plan with your money? Book a free discovery call with Jacob and take the first step!
You've always heard you should save money, but how much money should you save?
While there are many things you CAN save for, there is one thing you certainly NEED to save for: emergencies.
Emergency expenses are anything that is urgent, unexpected, and necessary. How do you pay for these things when they come up? Your fully funded emergency fund!
In this episode, Jacob unpacks Baby Step 3: Saving 3-6 months of expenses for a fully funded emergency fund, and how to decide how much is enough for you.
Once you've figured out what your target number is, book a free call with Jacob to get the help you need to get there!
Feel overwhelmed by your debt? Feel like you aren't making progress toward paying it off? You're not alone, but it doesn't have to be that way. You are made to be free.
Paying off your debt frees up your most powerful wealth building tool, your income, it eliminates risk, and it brings you real peace and freedom.
Join Jacob as he unpacks Baby Step 2: Paying off your debt using the debt snowball. You'll learn how to pay your debt off FAST with the intensity you need.
Start making progress now! Book a free discovery call and get on the path to financial freedom today.
What would you do if you had an unexpected emergency expense? Would be able to pay for it without going into debt? This is exactly why you need to save $1,000 FAST for a starter emergency fund before you pay off your debt.
Jacob covers Baby Step 1: Saving $1,000 for a starter emergency fund, why this is the first step toward financial freedom, and how to tackle it fast.
Book a free discovery call with Jacob and start your financial freedom journey!
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Don't you wish there was a simple plan you could follow for your money that worked every time? The good news is you are in the right place.
In this episode, Jacob unpacks the 7 Baby Steps–the proven plan that has helped millions of people get out of debt, save for emergencies, master budgeting, and build wealth.
For further reading on the Baby Steps, check out these books!
The Total Money Makeover
Baby Steps Millionaires
Ready to take action with your money? Today can be the day you take the first step toward financial freedom. If you are ready to make a change, visit jacobprater.com/discovery to book a free discovery call.
What is your why? In this episode, Jacob breaks down why that question is so essential and helps you find your answer.
Don't miss out on this special offer! The first five people to book a discovery call at jacobprater.com/discovery will receive 50% OFF of one-on-one coaching. Go now before the spots are filled!
In this episode, Jacob breaks down your most powerful wealth building tool–your income. Research proves it, and so does common sense.
Make sure you visit jacobprater.com/discovery for 50% off of one-on-one coaching for a limited time. This offer is only for the first 5 people to book a call, so don't wait!
Join Jacob Prater as he dives into the single most important investment you will ever make. This is one of the few investments that will give you a guaranteed return and take your financial future to the next level.
Don't miss the special offer given in this episode! Visit jacobprater.com/discovery to be one of the five people who secure 50% off of one-on-one coaching with Jacob!
In this episode, Jacob walks through exactly how to do a zero-based, every dollar budget from start to finish. Give this a listen, and then apply it to your own budget and watch it take off!
Recommended Budget Percentages
Start budgeting with EveryDollar!
Want to be great at money, but not sure where to start? I'd love to chat with you! Visit jacobprater.com/discovery to book a free discovery call to see if coaching is right for you!
There are a ton of different approaches and philosophies to budgeting. How do you know which method is the best? In this episode, Jacob unpacks some of the most popular budgeting methods, and which is going to be most effective for your financial success.
Want to be great at money, but not sure where to start? I'd love to chat with you! Visit jacobprater.com/discovery to book a free discovery call to see if coaching is right for you!
Join Jacob Prater as he unpacks 3 essential elements you need to make your budget successful!
Your budget needs to be:
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Written
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Detailed
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Before the month begins
Check out ramseysolutions.com/everydollar to get started on your EveryDollar budget!
Want to be great at money, but not sure where to start? I'd love to chat with you! Visit jacobprater.com/discovery to book a free discovery call to see if coaching is right for you!
The final episode of a five part series about characteristics of people who win with money! This trait truly sums up the purpose of all the rest, and why winning with money is something to strive for.
Want to be great at money, but not sure where to start? I'd love to chat with you! Visit jacobprater.com/discovery to book a free discovery call and see if coaching is right for you!
Part 4 of a five part series on characteristics of people who win with money. None of these are the silver bullet, but put them all together and you've got a recipe for success!
Want to be great at money, but not sure where to start? I'd love to chat with you! Visit jacobprater.com/discovery to book a free discovery call to see if coaching is right for you!
Jacob continues a five part series on characteristics of people who win with money. None of these are the silver bullet, but put all of them together and you've got a recipe for success!
Want to be great at money, but not sure where to start? Visit jacobprater.com/discovery to book a free discovery call and see if coaching is right for you!
Part 2 of a five part series unpacking characteristics of people who win with money. None of these are the silver bullet, but put them all together and you've got a recipe for success!
Want to be great with money, but not sure where to start? I'd love to chat with you! Visit jacobprater.com/discovery and book a free discovery call to see if coaching is right for you!
Jacob kicks off a five part series, unpacking characteristics of people who win with money. None of these are the silver bullet, but put all of them together and you have a recipe for success.
Want to be great at money, but not sure where to start? I'd love to chat with you! Visit jacobprater.com/discovery to book a free discovery call and see if coaching is right for you!
Jacob talks about the key thing you need to do to win with money. People who win typically do this, and people who are broke typically don't. You'd be surprised at how simple it is.
Want to be great at money, but not sure where to start? I'd love to chat with you! Visit jacobprater.com/discovery to book a free discovery call and see if coaching is right for you!
Welcome to the Young, Wise & Wealthy Podcast! In this episode, Jacob introduces why he started the podcast, what you can expect, and why you should check it out!
Want to be great at money, but not sure where to start? I'd love to chat with you! Visit jacobprater.com/discovery to book a free discovery call and see if coaching is right for you!