Show 050: Tips for Becoming Financially Free With Steve Stewart (@MoneyPlanSOS)

steve-stewartSteve Stewart is my guest this week. Steve is a Personal Finance Coach, Speaker, and Podcast Host. As a Personal Finance Coach he helps everyday Americans pay attention, not interest, by walking them through the Absolute Simplest Budget That Works and developing a debt elimination strategy in order to get back their life. His blog at was featured on the Dave Ramsey show and his weekly podcast has been downloaded more than 100,000 times on iTunes. Steve has a passion for teaching you how to build wealth, not credit, how to live on less than you make, and avoid the manipulative messages from those trying to get to your money. You can connect with him on TwitterFaceBook, and LinkedIn, Tune in to his podcast too on iTunes

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I was honored to have Steve Stewart join the show, especially as we celebrated our 50th episode. Steve is passionate about helping people become financially free. Here are a few of the show highlights:

  • We don’t have to love doing finances to become great at them.
  • The definition of debt can be narrowed down to any money that is owed to someone else. Examples include student loans, credit cards, line of credit, car loans, etc.
  • Debt is instant gratification for things we want now.

How do we get out of debt?

  • Every single loan has a actual pay off debt, although most of us have a hard time seeing it. The only thing to do is to stop borrowing more money to make this come to fruition. By default, we all have a debt free date, however it takes us to say “today is the day I stop borrowing money.” and then stop borrowing money.
  • Seeing past tomorrow is the hardest part, especially when we are talking about 5, 10, or 30 year loans. As humans, we love instant gratification. When we concentrate on our goals and keep going is when we will find success.

What is the biggest change in folks throughout their finance journeys?

  • The first change in most people is having hope. Having folks pay off their first debt, it is empowering. The key is to keep going as it will cause them to win.

What are the first steps in paying off debt?

1. The first and easiest step is to make the choice to stop borrowing money.

2. Create a spending plan, stick to it.

3. Set aside a $1,000 emergency fund.

4. Use every extra dollar to chip off your debt or cash flow any emergencies.

There are so many emotions tied in with personal finances that we don’t realize it. Having the hope to know that it is possible to get our finances in order is so important as finances can seem hopeless to many. The key again relates to making that decision to start, then to start doing it, and then not giving up.

Steve’s new finance video series is coming out in January 2014.

Contact info:


Twitter: @MoneyPlanSOS

I want to thank you for taking time out to listen or read this week. I hope that if you know of someone who is struggling with finances that you let them know there is HOPE for everyone.

Thank you for joining in this week. I appreciate you taking the time to join us each week and would love if you could share our blog and shows with others. Catch our show (The Iron Jen Show) on iTunes and Stitcher.


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