FinancialElite.com is a personal finance blog helping consumers get of debt, create wealth and live the lifestyle they dream of. I will tell you upfront there is "no gain without pain" and there is no "quick" in getting rich.
Who are you?
Financial Elite went through a complete financial meltdown. In February of the following year I went through a divorce and was left with a $100,000 in debt. Like they say, "Love is grand," but in my case divorce was a hundred grand. Right after my divorce I jumped in head first to pay off my debt and live a life of financial freedom. Using my then 10 years of banking and finance experience, my finance degree, and following the lessons in every financial book I could get my hands on to get there. After five years, I was debt free, a homeowner once again, and had amassed over six figures in net worth. Life was good.
In 2006, as the economy began to falter, I began to take on debt again. Through a chain reaction of events and by believing the U.S. government and the Federal Reserve would never let the economy get as bad as it has, I was once again became six figures in debt. I established this blog to share with others who are struggling with debt, what I am doing to get out of debt and help them do the same.
What are you doing to get out of debt?
I still review the techniques I used the first go around, but I am now giving Dave Ramsey's 7 "Baby Steps" a try. The Seven Baby Steps are as follows:
- $1,000 to start an emergency fund.
- Pay off all debt using the debt snowball.
- 3 to 6 months of expenses in savings.
- Invest 15% of household income into Roth IRAs and pre-tax retirement.
- College funding for children.
- Pay off home early.
- Build wealth and give.
The last time I was in debt I made it up to Baby Step 4 even though I wasn't following Dave's plan the first time I knew enough of what needed to be done. Currently, I am only on Baby Step 2, but I have done all this before and I will do it again.
Join me on my journey to pay off six figures of debt again.
"The wicked borrows and does not pay back, but the righteous is gracious and gives." (Psalm 37:21)
What makes you think you're so smart?
I am not a certified financial planner, but I do have a degree in finance and have worked in the banking industry for twenty years. My advice is based on my opinion and what I have learned from financial experts like Jesus Christ, David Ramsey and Suze Orman. I also share my experiences of how I paid off six figures of debt more than once and what has worked for me. I also love to talk about finances with anyone who has interest in the subject.
How Do I Contact You?
You can email me at thefinacialelite@gmail.com
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