Episode Summary
Being able to pay off debt is amazing, but what about being able to save money for those unexpected circumstances that arise?
Having a savings account can not only help you have money for things that come up, but it can also help keep you out of debt.
In this episode of the Debt-Free CEO Podcast, I share tips and strategies on how to save money, and emphasize the similarities between paying off debt and building a savings. I want to encourage you to learn from my experiences and implement better money management techniques into your own lives.
It is important to have an emergency fund and a budget to spend less than what is earned to ensure financial stability and the ability to allocate funds toward specific goals.
In this episode I share:
- Building a savings account that will help you out in financial emergencies
- How everything comes back to your budget
- You have to be making more than you are spending
- Tips to building a savings while you are still going debt-free
Resources:
- Ditch the 9-5 and Go Debt-Free
- Finances as a Freelancer: How to pay yourself monthly
- Free Budget Template
- Free Training: How to Start Your Freelancing Business to go Debt-Free
- Passion to Profit and On to Debt-Free Workbook
Don’t Miss Last Week’s Post:
Connect with Megan:
- Follow on Instagram @meganmendez__
- Website – meganmendez.com
- Join The Debt-Free CEO FB Community – The Debt-Free CEO Community
- Email – info@meganmendez.com
More About The Debt-Free CEO Podcast
Are you tired of getting yourself further into debt month after month? Does your mindset around money play a factor in your family’s spending? Do you struggle with knowing which debt to pay off first and how to keep yourself from going further into debt? Maybe you’re a freelancer who struggles with how much to pay yourself each month making it difficult to create a working budget.
In this podcast, you will learn ways to manage your finances to set you on the path to debt-free and on to financial freedom.
I’m Megan Mendez, and I was a tired teacher needing to get out of debt to leave the classroom for good. In 2021, paid off $53,000 worth of debt in 12 months and started my freelancing business shortly after. I’ve been able to successfully pay myself as a business owner and continue on the path to financial freedom and now I want to help YOU do the same!
My hope is that this podcast gives you tactical tips to help you improve your finances and set you and your family’s future up for success. I hope you’ll join me as we journey to financial freedom together.
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