We're Getting Out of Debt! Week 1

Monday night's #MoneyChat convo was awesome. What is #MoneyChat? Click here ---> http://bit.ly/iewZBx (An online Twitter conversation about all things money and business. Every Monday, 8:00 - 9:00p.m. est.)

We had a lot of fun and below is recap of key points: ( full transcript here--> #MoneyChat )

@rj1975  - Told us that paying his debts off smallest to largest helped him a great deal. He's already a financial genius because that is EXACTLY what I want you to do to dump your debt. Smallest to largest because it gives you a sense of accomplishment and builds your momentum.

We talked about unemployment and side gigs as well, with so many people we know out of a job, how can you not?  

@learntech and @SourceBlogger gave us great tips on making money while sleeping by selling online and blogging. If you have writing skills, set up a blog around a spec topic  and  sell products on the sidebar. The money you earn can be used to pay off debt or get out of the red.

Other side gigs: Tutoring, cooking, babysitting cleaning, handyman, minor auto repairs, driving... whatever it takes to have income (ahem.. legally.. got it? Ok)

Homework:

1. List 5 ways to bring in extra money (if you need to) - implement 2 of them this week!
2. Write down a Debt Free Goal: I will pay off $____ in 2011
3. Read 2 Personal or Biz articles about finances and share link w/group next Monday

Just in your free time....

Chew on one book per month - more if you are ambitious - here's 3 to get you started:

Ryan Mack - Build Your Financial Future http://amzn.to/hOyoJ

Lynette Khalfani - Zero Debt http://amzn.to/geOFXi 

Thomas J. Stanley - Stop Acting Rich... http://amzn.to/f4gwJB 

Next week 1/10/11 - we're checking the homework (tee hee) and talking about getting rid of business debt!

Upcoming Financial Events in Metro Detroit: 

Jan. 22: Young Money for Youth & Young Adults: www.youngmoney.eventbrite.com

Feb. 5th: Mastering Your Money in 2011!! (Adults): info@connercoaching.com

Can You Decipher This? Yep, prize involved! 

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Your Financial Coach, 

@dorethiaconner

Dorethia Conner, MBA: Personal Finance and Business Coach

www.connercoaching.com | dorethia@connercoaching | 800.962.2491 | 248.325.8016