Navigating Financial Challenges in Baby Step 7

This chapter addresses a listener's confusion over managing expenses while in Baby Step 7 of a financial plan, emphasizing the use of sinking funds to avoid debt. The discussion highlights their struggles with a truck payment and credit card debt, exploring income-generating strategies and the need for a reevaluation of budgeting practices.

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George Kamel and Ken Coleman answer your questions and discuss:

"Should we sell or keep a house we regret buying?"
"How do I convince my husband to use our savings to pay off debt?"
"I bought a house with my ex-fiancé and now the house is going into foreclosure."
"How do I plan for future debt?"
"Should I focus on paying off the negative equity on my truck?"
"Do I need to get a credit card to build my credit?"
"My nephew is refusing to take care of his parents and the burden is now falling on us. How do we get him to start contributing?"

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