Strategic Financial Management for Challenging Times

This chapter covers effective financial management techniques, emphasizing the need for separate accounts for emergency funds and the use of sinking funds for budgeting. It also includes a personal story of overcoming financial challenges and advice for a caller on investing profits from a vehicle sale during a health crisis.

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📈⁠⁠⁠⁠ ⁠Are you on track with the Baby Steps? Get a Free Personalized Plan⁠⁠⁠⁠⁠

Dave Ramsey and Jade Warshaw answer your questions and discuss:

"How do I navigate $1.8M in debt with no income?"
"My employment is directly tied to my FICO score. How can I pay off debt and keep a good score?"
"I'm 51 with no retirement savings and I am currently carrying my daughter's student loans I cosigned on..."
"Is it too late for a 47-year-old man to find financial peace?"
"My husband's gambling has us late on our bills. Do I have to go back to work, or can I still be a stay-at-home mom?"
"Our advisor is telling us to take out a HELOC on our vacation home to invest and supplement our income"
"How can I convince my wife that we don't need to invest while paying off debt?"
"How do we navigate family dynamics without seeming like the cheap family?"
"How do we wisely manage a $100K gift from my parents?"
"I was recently diagnosed with a rare cancer, how do I get my finances in order?"
"I'm $400,000 in debt, at what point should I declare bankruptcy?"
"We're debt-free, can we afford to buy a business?"
"What's the best way to invest our 15 year old son's earnings?"