Episode 65: (Live Show) Four Simple Steps to Living Without Credit Cards & When you Should Become a Financial Coach, June 21, 2011.
Our lead financial coach Kevin Suddick filled in for Janelle again today as we finished his story about how and why he became a financial coach. We then brought on financial coach Steve Stewart with Money Plan SOS to discuss how to wean yourself off of using credit cards slowly. Oh, and thanks to everyone in the live chat during the show. You made it a lot of fun!
Living In Financial Excellence airs LIVE every Tuesday at 10 a.m. CST. You can watch live and join the chat at financialexcellence.net/live-show
- Kevin didn’t become a financial coach to make money and pay off debt. he became a coach because he was debt free except his house, and he wanted others to feel that sense of success.
- Kevin trained with Dave Ramsey’s staff in Brentwood, TN. That’s the same training I went through in 2007. It’s important to me that our team members give consistent advice to our clients.
- I like to quit credit cards cold turkey and cut them up, but my friend Steve Stewart has a different approach. His approach is four simple steps, and it’s a more gradual approach to living with out the credit cards. It’s a great approach for you if you’re reluctant to take the plunge and cut up the cards.
- Here’s what Steve recommends. You’ll have to listen in to see how and why these steps are so effective for living debt free.
- Step 1: Remove the cards from your wallet or purse.
- Step 2: Delete your credit card numbers from online accounts.
- Step 3: Call the credit card companies and close the accounts.
- Step 4: Cut up the credit cards.
- This process takes several weeks or months to complete and there are things you need to substitute for your credit cards for every step. Listen in to learn how to complete this process with confidence.
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