Celebrating a Drop in Credit Score

This holiday season, a client is ???????? ???????????? ?????? ???????? rather than going further into debt.

His struggles with debt, are your struggles with debt, and once-upon-a-time, this writer's struggle with debt. And his is a solid 6 figure income.

It was the perfect trifecta of events for this celebration last week when this message arrived showing a $4500 credit card payment.

We celebrated:

... a ???????? ???? ???????????? ??????????,

... ???? ???????????????? ???? ????????????,

... and most importantly, ?????? ?????????? ???? ?????????? ???? ?????? ????????.

If you have debt, what would you need to change to make a $4500 debt payment?

In 2025, what would have to happen for you to ?????????????? ???????? ???? ???????? ????????????????? Complete. 100%. Epic. Failure.

I follow Rich Litvin and thought this was a great question he posed recently. If you know the answer, then you know the stumbling blocks to avoid, and the action steps to take.

For yourself and your family:

• Have you completed a Will?
• Do you need to face your mortality and get life insurance so your husband/wife/kids aren't financially strapped with your early, unplanned demise?
• Who has authority to make health decisions for you if you end up in a coma?
• What health issue have you been avoiding? Colonoscopy? Mammogram?
• Are you sick and tired of living with debt? What's causing it to happen?
• Do you need help to answer these?
• What are you still tolerating? Why?

For your business:

• Is it time to get serious about your side hustle and put systems in place to set money aside and pay estimated tax payments?
• What succession plan is in place should you become ill?
• What employee do you need to fire or hire?
• How much is in your business savings account?
• What amount of time are you spending ON the business, instead of IN the business?
• If you limited your business expenses to less than 65% of your gross income, what could you do with the other 35%?

And these only begin to scratch the surface. I find most people, business owners or not, already know the answers to at least several of these questions, at least on a gut level. You probably do too.

This holiday season, much like my client, what priorities are you making for yourself and your money? What needs to change, and importantly, why?

If you're in the greater Austin area, create time to work on your business, January 3, 2025, from 1:00-4:00pm at a 3-hour mini business retreat, hosted at Level 3 in Belton, TX. Limited to 10 small business owners.

Is your money a mess? Do you wish you could save more, spend less, or stop living paycheck to paycheck? Does your pay say you should be wealthy, but your bank account reflect a different realty? Do you wish you could create a workable, livable budget? Do you want to get control of your money and feel less stress and more confidence in money making decisions and sleep better at night ? I can help you with that.

I’m a personal finance (formerly in debt!) and small business money coach, author, tax resolution specialist, and radio host. I work with individuals and small business owners that want to solve their money problems and Sleep Better at Night?. I’m genuinely excited about how evolving your perspective on money can change your behavior with money. My clients include professionals, both inside and outside the home, small business start-ups, solopreneurs already down the path a few years, and even the 6-figure+ income earners. They're motivated, committed and ready to change. Find out more here or contact me directly.

I’m the author of an Amazon #1 Hot New Release How to Avoid Trouble With the IRS: 10 Best Tax Tips for the Self-Employed, Gig Worker, and Indie Contractor. The book covers the basics all new business owners need and want to know, and wished they knew! This book is available as hard copy, kindle, and audiobook at all fine book retailers everywhere.