E123: How Young Adults Can Thrive In Today's Economy with Rachel Cruze
Jul 2, 2024
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Financial expert Rachel Cruze shares tips on thriving in today's economy, from buying a house to saving for retirement. Topics include navigating housing market challenges for young adults, financial priorities, debt repayment strategies, college education value, and making wise financial decisions for a secure future.
Prioritize buying a house, managing debt, and preparing for retirement to thrive financially.
Understand challenges in affording a house due to shortages, rising prices, and importance of financial planning.
Use debt snowball method for debt payoff, aim for financial freedom, and prioritize emotional benefits of financial management.
Deep dives
Making Financial Decisions as a Young Adult
Prioritizing decisions like buying a house, going to college, and managing debt while discussing the importance of preparing for retirement and potential economic changes over the next 12-18 months.
Navigating the Housing Market as a Young Adult
Exploring challenges faced by young Americans trying to afford a house, emphasizing the impact of housing shortages, rising prices, and the need for careful financial planning.
Debt-Free Financial Planning
Highlighting the debt snowball method for paying off debts in 18-24 months, stressing the financial freedom and peace achieved by being debt-free, and discussing the emotional and relational benefits of managing finances.
Balancing Expenses and Income for Financial Stability
Offering advice on budgeting, reducing expenses, increasing income through side hustles, and finding a balance between saving for retirement, making major purchases, and managing debt.
Strategies for Increasing Income and Living Frugally
Encouraging budgeting, reviewing expenses, exploring side hustle opportunities, and emphasizing the importance of balancing financial decisions to achieve long-term financial stability.
Will I ever be able to afford a house? Is college worth going into debt? How should I save for retirement? Is financial freedom possible for me and my family? These questions are now more common than ever in the average American household. Today I sit down with Rachel Cruze, financial expert, to discuss how to thrive in this economy. We discuss how your average person should go from renting a home to buying a property, strategy for getting out of debt, how to make more money, a plan for saving for retirement and much more.
Check out Rachel's work here: rachelcruze.com Join our Locals community: https://lilarose.locals.com/
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