The Golden Rules of Financial Freedom: Recent Episodes
Don Golden
Attorney Don Golden is Board Certified in Consumer Bankruptcy by the American Board of Certification. Over the last 24 years he has helped over 4,000 families discharge more than $100,000,000 in debt. However, over the last few years he has sensed that he was being called to do more. He decided that he not only wanted to help consumers discharge their debt, he also wanted to help them rebuild their financial lives after bankruptcy. That's why he decided to launch the Golden Rules of Financial Freedom. Don believes that there are some basic rules of personal finance and if you learn and follow the rules, you can reach financial freedom!
When most people think of a coach they think of the person who taught them to play a sport or who leads their favorite pro or college team. However, coaches aren't just for sports. There are all kinds of coaches in the world. There are life coaches, business coaches, nutrition coaches and yes, even personal finance coaches. In this episode we interview Carrie Williams of Running Valley Financial Associates, LLC and she talks about how she helps people get on track with their finances so they can create and travel down their own path to financial freedom.
https://www.facebook.com/runningvalleyfinancial
https://runningvalleyfinancial.com/
If you start with the letter A then you draw a line to the letter B and A represents where you are right now in your financial journey and B represents where you want to go, otherwise known as your financial goals, which do you think is the most important? Would it surprise you if I told you that knowing where you are right now is not as important as knowing exactly what your financial goals are or where you want to go in the future?
In this episode, America's Chief Results Officer, Blaine Oelkers explains this concept in detail and teaches us other techniques to help us reach our financial goals.
http://blainetedx.com/
https://goldenrulesoffinancialfreedom.com/
The Golden Law Group
There are some very basic rules of personal finance. If you learn and follow those rules, you will are perfectly capable of reaching financial freedom. We like to call these The Golden Rules of Financial Freedom.
In this episode, bankruptcy attorney Don Golden tells us about his clients who usually have nothing saved for retirement. Seeing so many people suffer financially led Don to become passionate about helping people reach their financial goals. He talks about his personal finance story and introduces us to the first Golden Rule of Financial Freedom, you have to set a goal, develop a plan and follow it!
What’s the most important thing when it comes to going from broke and bankrupt to financially free? Learning to manage your money. And the most important part of managing money is knowing how to budget. Figuring out a budget often strikes people as scary or a hassle, but it doesn’t have to be.
On today’s show, we’re joined by Bobbi Olsen. Bobbi is a budget coach and the cohost of a budgeting podcast called Centsable Chat. Listen to the episode to hear what Bobbi has to say about the debt snowball versus the debt avalanche, how to allocate money, and her own journey from struggling with debt to financial freedom.
Topics Discussed in This Episode:
- How Bobbi got interested in personal finance and budgeting
- What resources Bobbi used to educate herself about personal finance
- How long Bobbie was struggling before
- Bobbi’s radio career
- Debt snowball versus debt avalanche
- How Bobbi counsels her clients about the debt snowball versus the debt avalanche
- Whether it’s possible for everyone to get fully out of debt or be able to retire
- The first step for someone to take to get on track
- Bobbi’s podcast, Centsable Chat
- How to think about your budget
- What leveraging is
- Allocating your budget
- What to do about unexpected expenses
- Enjoying the benefits of a worry-free financial life
- The number-one reason for budgeting
- The intent of Centsable Chat
- How Bobbi’s budget-coaching business works
Links and Resources:
Centsable Chat
Playing With fire sounds dangerous, but the FIRE movement is actually not about danger. In a way, it’s more about safety – or at least, having a safety net. Today, it’s not realistic to plan to work for the rest of your life. People are living longer thanks to better health practices and medicine, but that doesn’t necessarily mean that they’re able to work for all of that extra time. So how can you make sure that you have the money you need to live on when you reach a point where working is no longer feasible or desirable? The answer lies in financial independence. Listen to the episode to learn more about the FIRE movement and the journey toward financial independence.
Topics Discussed in This Episode:
- Your position following a bankruptcy filing
- What the fire movement is all about
- How you reach financial independence
- Whether it’s realistic to work for the rest of your life
- The financial independence mindset
- Investing for your future
- Compound interest
- How to start saving
Links and Resources:
Choose FI
Mr. Money Mustache
What can happen when you fall behind on your credit card payments? Most people know that they can expect a hit to their credit score and perhaps phone calls from creditors, but often they believe that since the debt is unsecured, nothing more serious can happen. However, this is not the case. Ignoring your credit card debt can be very dangerous to your financial situation. In this episode, we’ll be talking about what happens when you fail to pay your credit card debt and what you can do when you find yourself falling behind.
Topics Discussed in This Episode:
- What it means when a credit card company charges off your debt
- What happens when a credit card company sells your debt
- What to do if you’re receiving phone calls from a company that has purchased your debt
- How you can be taken to court for your credit card debt
- What happens when you ignore a lawsuit filed by a creditor
- What your options are when you’re having financial difficulties
- What to do if you’ve been sued
- When to consider bankruptcy as an option
Links and Resources:
Free Bankruptcy Book
The intention for the Fresh Start for Life podcast is to release a new episode every two weeks, but unfortunately, sometimes things get in the way of keeping up with that goal. In this episode, you’ll hear an apology for falling behind as well as some announcements that will interest listeners of Fresh Start for Life.
Topics Discussed in This Episode:
- Apology for falling behind
- Announcement about new book
- Announcement about becoming the consumer bankruptcy expert for Channel 8 WFLA
Resources and Links
Free Bankruptcy Book
What kinds of expenses does your teenager have? Which ones are your responsibility, and which ones should be their responsibility? What’s the best way to teach a teenager to make a budget? Today’s episode will address these questions and more.
Today’s episode is the second in a short series on teaching kids about money, using the book Smart Money, Smart Kids written by Dave Ramsey and Rachel Cruze. In this installment, the focus is on giving, saving, spending, and budgeting. Listen in to hear more about showing your children how to be good givers, why a teen needs an emergency fund, and what kinds of expenses teenagers have to think about, as well as some updates from the previous episode about work.
Topics Discussed in This Episode:
- Talking to kids and teens about working for their money
- Using a modified envelope system
- The three main things you can do with money
- Showing children how to be good givers
- Showing teens how to plan their spending
- How a teenager could use an emergency fund
- How to do a budget with a teenager
- The kinds of expenses teenagers have
Links and Resources:
Smart Money Smart Kids
How are your children learning about money? As a society, we may not be doing everything we should be doing to teach children about how money works – where it comes from, how to get it, and what to do with it when you have it. These lessons aren’t taught in school, and parents often don’t know where to start.
Today’s podcast is the first of a short series on teaching kids about money, with lessons coming from the book Smart Money, Smart Kids written by Dave Ramsey and Rachel Cruze. Listen in to hear about why kids need to earn money of their own, the difference between an allowance and a commission, and how teens can benefit from learning to manage a checking account.
Topics Discussed in This Episode:
- How the need for spending money increases for kids as they grow up
- Making kids earn money of their own
- The difference between an allowance and a commission
- When to start children doing chores around the house for commission
- What types of chores children can do for a commission at different ages and stages
- Encouraging teens to earn money through sources other than their parents
- What types of jobs teens should look for and what they can learn from working
- Teaching teens to manage a checking account
Links and Resources:
Smart Money Smart Kids
Bankruptcy can be a way out for people struggling with debt. However, many people in that position fear the possibility of losing their vehicle or being unable to finance a vehicle after they file for bankruptcy. Since people depend on their vehicles for so many things, from getting to work to taking care of their kids, this fear can prevent people from filing for bankruptcy even when it might benefit them to do so.
In today’s episode, you’ll hear an interview with David Roberts. David is the president of Automotive Fresh Start Center, a business dedicated to helping its customers finance vehicles post-bankruptcy. During the interview, David talks about extended warranties, zero money down deals, and “buy here, pay here” dealerships. Listen in to find how David’s business is different and how it helps buyers who are in bankruptcy or struggling with debt.
Topics Discussed in This Episode:
- David’s history in the car business
- Why David hates the car business
- Why you should research online
- How dealerships make money from extended warranties
- When extended warranties are good
- What kind of credit score someone needs for a car loan
- Why auto financing sometimes doesn’t go through even after the buyer has been told they have a loan approved
- How quickly new cars depreciate in value
- What Automotive Fresh Start Center is and what they do
- The difference between a Chapter 7 and a Chapter 13 bankruptcy when it comes to financing a vehicle
- Whether down payments are required for Automotive Fresh Start customers
- How Automotive Fresh Start is able to offer the deals they do to buyers in bankruptcy
- What kinds of interest rates Automotive Fresh Start customers can get
- How “buy here, pay here” dealerships operate
- What types of cars Automotive Fresh Start Center sells
- Which areas David’s clients come from
- What kind of documentation David’s clients need
- Other ways David’s business helps customers recover from bankruptcy
- How people can learn more about David’s business
Links and Resources:
David Roberts
Automotive Fresh Start Center
Automotive Fresh Start Center on Facebook
Call Automotive Fresh Start Center at: 1-800-848-5830
It’s becoming more and more common for senior citizens to struggle with debt, even when they’re at or near retirement age. Why is this happening? What can seniors do to get out of debt without decimating their retirement funds? How can younger people avoid ending up in debt as senior citizens?
Today’s podcast will address some of these questions. We’ll look at some of the main reasons that seniors wind up in debt, and examine a case study that shows an example of what the financial position of a senior in debt looks like. Even people who aren’t yet senior citizens can benefit from this discussion as we look at some ways younger people can avoid becoming seniors who are in debt.
Topics Discussed in This Episode:
- Some of the major reasons why more and more seniors are finding themselves in debt
- A case study of senior debt
- Options for seniors dealing with debt
- When bankruptcy is an option
- Protecting a retirement fund
- Importance of talking to elderly family members about debt
- How you can avoid debt as a senior citizen
Links and Resources:
Free Bankruptcy Book
Today’s show is a departure from the normal format. Rather than an interview, this is a solo show designed to help you learn more about Fresh Start for Life, this podcast, and of course, your host Don Golden. Listen in to hear more about Don’s background, why he started Fresh Start for Life, and what to expect going forward.
Topics Discussed in This Episode:
- How Don ended up in Florida
- Don’s area of expertise in law
- Don’s law firm
- Don’s work as a statistician
- Why Don started Fresh Start for Life
- How Don plans to use the Fresh Start for Life Podcast to help his clients
- What to expect out of the Fresh Start for Life Podcast
Links and Resources:
Don Golden
The Golden Law Group
Fresh Start for Life
Paying off student loan debt can take years or even decades. That debt can act as an anchor that weighs you down financially. And if you’re struggling with student loan debt, you’re not the only one – there are some alarming statistics that reveal the extent of the student loan debt problem in this country. Currently, 45 million Americans owe student loan debt, and collectively, they owe 1.56 trillion dollars. What’s more, 11.5% of student loans are 90 or more days delinquent or in default. For those people, achieving the financial life of their dreams will be difficult until they get the debt under control.
Today’s guest, Christie Arkovich, is a student loan debt attorney in Tampa Bay. She specializes in representing borrowers who are struggling with student loans. Listen in to hear what she has to say about federal and private loans, options for people who are delinquent or in default on their loan, and how a student loan lawyer may be able to help borrowers who are struggling.
Topics Discussed in This Episode:
- The impact student loan debt has on the economy
- The types of student loans available to borrowers
- When private loans are necessary
- What makes someone ineligible for federal loans
- Differences between federal and private loans
- Borrower’s options when they’re delinquent or in default
- Options that can help borrowers avoid default
- Christie’s lawsuit against Navient
- What student loan servicers do
- How the student loan debt crisis compares to the housing crisis
Links and Resources:
Christie Arkovich
The Student Loan Lawyer
Quotes by Christie:
“There’s a lot of different federal programs designed to either sometimes partially eliminate or discharge the debt or allow for more reasonable payments, and ultimately forgiveness.”
“One of the bad things is that most people don’t have one student loan. They might have four to fifteen or so.”
“What I have found is that one out of three families usually have student loans.”
Can you really change your life just by changing the way that you think? That’s what today’s guest is here to discuss. Blaine Oelkers is an entrepreneur who’s run a variety of profitable businesses over the past 25 years, including a consulting firm, a pizza franchise, four health and wellness business, and a personal development company. He’s also begun to social enterprises that use a business model rather than a charity model in order to help end malnutrition.
Blaine has a passion for helping people find their hidden abilities that will allow them to lead the life that they desire, design, and deserve. He’s committed to getting results and has trademarked the title, Chief Results Officer. Listen to the episode to hear what Blain has to say about social enterprises, how to study the book Think and Grow Rich, and how to achieve the $10,000 hour.
Topics Discussed in This Episode:
- How Blaine’s two social enterprises got started
- How social enterprise works
- How a passion for a project helps drive results
- The first step toward getting the financial life that you want
- The lost pages of the original Think and Grow Rich
- A technique to help people discover their true desires
- How to get past the day-to-day struggle and think bigger
- What WYTAYBA means
- How to dilute head trash
- The $10,000 hour
- Where listeners can learn more about Blaine Oelkers
Links and Resources:
Blaine Oelkers
My 10k Hour
Forced Clarity
Quotes by Blaine:
“If you’re listening to this and you own a business, there’s probably a way for you to incorporate some type of social giving or social give-back to the community.”
“Your thoughts actually create your life, and your consistent thoughts, right, what you tell yourself, that’s what really makes all the difference.”
“When you start to work on yourself, all the stuff gets better.”