Figuring The Figures

In this episode of "Figuring the Figures," your host ZtikMan, a dedicated financial coach, shares the importance of budgeting and its role in achieving financial goals. He discusses his personal journey into the world of personal finance and offers insights into his approach to financial coaching, emphasizing education, empowerment, and accountability. Discover the free budgeting tools and resources available to help you take control of your finances and start building the life you desire. Don't miss this valuable episode on mastering your finances and reaching financial freedom!
Get coaching at ZtikMan.com/Coaching
Time stamps:

Intro - 2:37

Entrepreneur at heart - 3:14

The overall plan - 4:37

My personal story - 5:51

The importance of education- 6:56

Accountability - 8:00

What I offer - 8:38

If you want to be a guest - 10:18

Free tools & resources - 11:11
Get Free Budget tools at ZtikMan.com/Budget

Introducing ZtikMan.com on YouTube - 11:37

Figuring the Figures Recap - 12:22

What the following episodes consist of - 12:58

The 7 baby steps - 13:41

Closing statements - 19:34

#6 Baby Step 5: Save for your children’s college fund.

Figuring The Figures

06/01/24 • 23 min

College Savings Calculator

Introduction:

Welcome to "Figuring the Figures," the podcast where we break down personal finance concepts and make them easier to understand.
Today's episode is all about Dave Ramsey's Baby Step 5, one of the most important steps in his financial plan.
We'll be discussing what Baby Step 5 is, why it's important, and how to achieve it. So, let's get started.

Segment 1: What is Baby Step 5?

Baby Step 5 is all about saving for your children's college education.
Dave Ramsey recommends that parents start saving for their children's college education after they have completed the first four baby steps.
The goal of Baby Step 5 is to ensure that your children don't start their adult lives burdened with student loan debt.

Segment 2: Why is Baby Step 5 important?

The cost of college education has been rising steadily over the years, and it can be a significant financial burden for parents and students.
By saving for your children's college education, you can give them a head start in their adult lives and help them avoid the stress of student loan debt.
Baby Step 5 also helps parents to plan for the future and ensure that they have enough money to cover the cost of their children's education.

Segment 3: How can you achieve Baby Step 5?

Achieving Baby Step 5 requires careful planning and dedication to saving for your children's education. Here are some steps you can take to achieve this goal:

Estimate the cost of your child's education: Before you start saving, it's essential to have an idea of how much money you'll need to cover the cost of your child's education. You can use online calculators or consult with a financial planner to estimate this amount.
Set a savings goal: Based on the estimated cost of your child's education, you can set a savings goal. Dave Ramsey recommends saving for college using a 529 college savings plan or a Coverdell Education Savings Account (ESA).
Start saving early: The earlier you start saving, the more time your money has to grow. Dave Ramsey recommends starting to save for college as soon as your child is born.
Prioritize Baby Step 5: Saving for your child's education should be a priority after you have completed the first four baby steps. Make sure to allocate a portion of your budget towards this goal each month.
Consider other sources of funding: While saving for your child's education is crucial, it's also essential to consider other sources of funding, such as scholarships, grants, and work-study programs.

Conclusion:

Achieving Baby Step 5 can be a significant financial milestone for parents and their children. By saving for your child's education, you can help them avoid the stress of student loan debt and give them a head start in their adult lives. Remember to plan carefully, start early, and prioritize this goal after completing the first four baby steps. Thanks for tuning in to "Figuring the Figures," and we'll see you next time.
🔗 Don't forget to SUBSCRIBE and visit ZtikMan.com for more financial insights and resources!

#2 Baby Step 1: Save $1,000 for your starter emergency fund.

Figuring The Figures

02/01/24 • 24 min

In today's episode, we're diving into Dave Ramsey's first baby step: saving $1,000 of emergency funds. Dave Ramsey, a renowned financial expert and author of "The Total Money Makeover," lays the foundation for financial stability with this critical step. Let's explore why it's so essential and how to go about it.

Introduction:

Welcome to Figuring The Figures, your source for financial wisdom.
Today, we're discussing Dave Ramsey's first baby step: saving $1,000 of emergency funds.
Dave Ramsey is a financial guru and author of "The Total Money Makeover."
This first step is the cornerstone of financial stability, and we'll explain why in this episode.

Section 1: Why you need an emergency fund:

Delve into the importance of having an emergency fund for unexpected expenses like car repairs or medical bills.
Highlight how an emergency fund prevents you from going into debt or relying on credit cards in emergencies.
Share real-life stories demonstrating the value of an emergency fund.

Section 2: How to save $1,000:

Discuss various strategies to save $1,000, including cutting expenses and boosting income.
Stress the significance of creating a budget and tracking expenses to identify areas for savings.
Offer tips for earning extra income, such as selling items or taking on a side hustle.
Emphasize consistency and discipline in reaching the $1,000 goal.

Section 3: What to do with the emergency fund:

Explain how to set up an emergency fund, such as opening a dedicated savings account.
Emphasize keeping the emergency fund easily accessible but separate from your regular accounts.
Define the types of expenses that should be covered by the emergency fund.
Provide examples of what not to use the emergency fund for.

Time Stamps:

The first baby step - 2:20
Budget template - 6:15
Free budget tool - 12:56
Making Projections - 13:35
Understanding numbers in business - 14:18
Planning after budgeting - 15:28
How to be effective in saving - 16:53
What are real emergencies - 18:39
The first step is the biggest step - 19:51
Building a foundation - 22:04

🔗 Don't forget to SUBSCRIBE and visit ZtikMan.com for more financial insights and resources!

Thanks for tuning in, and remember that taking this first baby step can set you on the path to financial security. Join us next time for more financial insights!

#3 Baby Step 2: Pay off all debt (except the house) using the debt snowball.

Figuring The Figures

03/02/24 • 29 min

Welcome to Episode 3 of Figuring The Figures, where we embark on a transformative journey through Dave Ramsey's Baby Step 2: Getting Out of Debt. Join us as we unravel the secrets to financial liberation and debt-free living.

Time Stamps:

Trailer/Intro - 0:00
Baby Step 2 - 2:36
Explaining the budget template - 3:45
Paying off 7 credit cards - 8:18
Debt free - 23:06
Getting rid of a car loan - 23:49
Turning a 20K loan into 5K - 24:50
How to pay off 5K - 25:25
Back at zero - 27:12
Closing statements - 29:22

Key Highlights:

Baby Step 2:
- Dive into the heart of Baby Step 2 and its pivotal role in your financial journey.
Explaining the Budget Template:
- Gain clarity on utilizing a budget template as a cornerstone for financial planning and debt management.
Paying Off 7 Credit Cards:
- Witness firsthand the triumphs and challenges of paying off multiple credit cards.
Achieving Debt Freedom:
- Celebrate the ultimate victory of becoming debt-free and reclaiming financial autonomy.
Eliminating a Car Loan:
- Uncover strategies for tackling substantial debts like car loans and reclaiming ownership of your financial future.
Transforming a 20K Loan:
- Learn the art of debt reduction as we share strategies to minimize a hefty loan to a manageable fraction.
Mastering Debt Repayment:
- Discover actionable tips and techniques to efficiently pay off significant amounts of debt.
Starting Anew:
- Explore the liberating feeling of reaching ground zero and commencing a fresh chapter in your financial story.

Conclusion:

As we draw the curtains on this insightful journey, remember that financial freedom is not merely a destination but a lifelong pursuit. Each step taken towards debt liberation is a testament to your resilience and determination. Keep striving, keep believing, and keep moving forward. Thank you for joining us today, and may your path to financial success be filled with prosperity and fulfillment.

Subscribe to Figuring The Figures for more invaluable insights and expert guidance on mastering your finances.

#BabyStep2 #DebtFreeJourney #FinancialFreedom #BudgetingTips #PersonalFinance #FiguringTheFigures #ZtikManPodcast
🔗 Don't forget to SUBSCRIBE and visit ZtikMan.com for more financial insights and resources!

#4 Baby Step 3: Save 3–6 months of expenses in a fully funded emergency fund.

Figuring The Figures

04/01/24 • 15 min

Welcome to Episode 4 of "Figuring The Figures" by ZtikMan! In this episode, we dive into Dave Ramsey's Baby Step 3, focusing on the crucial task of building your emergency fund. Join us as we discuss the importance of having a financial safety net and practical strategies for saving three to six months of expenses. Learn why an emergency fund is essential, where to keep it, and how to start building it today. Whether you're just starting your financial journey or looking to enhance your money management skills, this episode is packed with valuable insights to help you achieve financial security. Tune in now and take control of your financial future!
🔗 Don't forget to SUBSCRIBE and visit ZtikMan.com for more financial insights and resources!

#7 Baby Step 6: Pay off your home early.

Figuring The Figures

07/01/24 • 20 min

Figuring the Figures: Understanding Dave Ramsey's Baby Step 6

Host: ZtikMan

Introduction:

Welcome to "Figuring the Figures," the podcast where we break down personal finance concepts and make them easier to understand. In today's episode, we'll be discussing Dave Ramsey's Baby Step 6, which is all about paying off your home mortgage. We'll cover what Baby Step 6 is, why it's important, and how to achieve it. So, let's dive in.

Segment 1: What is Baby Step 6?

Baby Step 6 is the step where you focus on paying off your home mortgage early. After completing the first five baby steps, you should have no debt other than your mortgage. The goal of Baby Step 6 is to become debt-free, including your mortgage.

Segment 2: Why is Baby Step 6 important?

Paying off your mortgage early has several benefits. First, it frees up a significant portion of your monthly budget, which can be used towards saving for other financial goals, such as retirement or your children's education. Second, it reduces the amount of interest you pay over the life of your loan, saving you thousands of dollars in the long run. Finally, being debt-free, including your mortgage, can provide peace of mind and financial security.

Segment 3: How can you achieve Baby Step 6?

Achieving Baby Step 6 requires discipline and commitment to paying off your mortgage early. Here are some steps you can take to achieve this goal:

Set a goal: Determine how much you need to pay off your mortgage early and set a goal to achieve it. This can be a dollar amount or a specific time frame.
Review your budget: Review your monthly budget and identify areas where you can cut back to free up extra cash to put towards your mortgage.
Consider refinancing: Refinancing your mortgage can help lower your interest rate and reduce your monthly payments, making it easier to pay off your mortgage early.
Make extra payments: Make extra payments towards your principal whenever possible. This can be a lump sum payment or an additional payment each month.
Consider bi-weekly payments: Switching to bi-weekly payments can help you pay off your mortgage faster by making an extra payment each year.

Conclusion:

Achieving Baby Step 6 can be a significant financial milestone and provide peace of mind and financial security. Paying off your mortgage early frees up a significant portion of your monthly budget, reduces the amount of interest you pay over the life of your loan, and provides a sense of accomplishment. Remember to set a goal, review your budget, consider refinancing, make extra payments, and consider bi-weekly payments to achieve Baby Step 6. Thanks for tuning in to "Figuring the Figures," and we'll see you next time.

#5 Baby Step 4: Invest 15% of your household income in retirement/business.

Figuring The Figures

05/01/24 • 23 min

Choosing Between Entrepreneurship and Retirement Investing: Which Path Would You Pursue?
Welcome back to "Figuring the Figures" by ZtikMan! In this insightful episode, we delve into Dave Ramsey's Baby Step 4, where we explore the critical decision between entrepreneurship and retirement investing.
🔍 Episode Highlights:
1. Understanding Baby Step 4: Discover the essence of Baby Step 4 in Dave Ramsey's seven-step financial plan.
2. Importance of Investing for Retirement: Unveil the significance of investing in your retirement and securing your financial future.
3. Starting Your Retirement Investment Journey: Learn practical tips on initiating your retirement investment journey and choosing the right retirement account.
4. Staying on Track with Retirement Goals: Gain insights into maintaining momentum towards your retirement goals and maximizing your contributions.
5. Overcoming Challenges in Retirement Savings: Explore strategies for catching up on retirement savings if you're behind and overcoming common hurdles.
Join us as we navigate through the complexities of retirement investing and entrepreneurship, empowering you to make informed financial decisions and secure a prosperous future!
🚀 Timestamps:
- Trailer: 1:21
- Intro: 2:20
- What is Baby Step #4?: 3:04
- Why should you save before investing?: 3:27
- Why is investing into retirement important?: 4:12
- Unlock Compound Interest with Early Investing: 4:24
- What are some benefits of investing into retirement?: 5:04
- Prioritize Emergency Savings Before Investing!: 5:34
- How do you start investing into retirement?: 5:52
- Things to consider before investing.: 6:33
- Using the Ramsey Retirement Calculator: 7:06
- How do I create a budget for investing?: 7:54
- What is a reasonable expectation for annual returns on investments?: 8:59
- What does 28 years of investing look like?: 9:31
- How much can 5 years of investing can change your life.: 10:33
- You can do it too!: 10:55
- How does compound interest work?: 11:35
- Choosing Between Entrepreneurship and Retirement Investing.: 12:17
- If you believe in yourself, do this instead of waiting for retirement.: 13:07
- If your 9-5 is your passion, you're living the dream.: 14:37
- Invest a house into the stock market and make millions: 15:10
- Download this free budget template at ZtikMan.com/BUDGET: 15:38
- Staying on track with your retirement goals.: 16:51
- Maxamize your yearly contributions.: 19:39
- Do you feel it's too late to invest?: 20:50
- You might consider investing more when you get older.: 21:47
- I'm on a million dollar mission.: 22:24
- Find the financial guide you need today!: 22:43
🔗 Don't forget to SUBSCRIBE and visit ZtikMan.com for more financial insights and resources!
#FinancialFreedom #RetirementInvesting #Entrepreneurship #InvestmentTips #FinancialPlanning #FinancialEducation #DaveRamsey #BabySteps #FinancialSuccess #PersonalFinance #MoneyManagement #FinancialWellness #WealthBuilding #CompoundInterest #RetirementGoals #FinancialEmpowerment #BudgetingTips #MoneyMatters #FinancialIndependence #MoneyMindset #InvestingStrategies #DebtFreeJourney #SmartInvesting #FinancialGoals #SecureYourFuture #BuildWealth #RetirementSavings #InvestmentEducation #FinancialLiteracy #MoneyTips

Chat GPT - Part 2 (BONUS)

Figuring The Figures

09/01/24 • 18 min

In part 2 of our 3-part bonus series on Chat GPT, we take a deeper dive into crafting the perfect prompts that yield precise and valuable results. This episode is all about refining your approach to using Chat GPT by focusing on goal-setting, role assignment, and customizing responses to fit your needs.
LINKS
Chat GPT: https://chatgpt.com
Role Examples PDF

Timestamps:

0:00 - Introduction: A quick recap of part 1 and an overview of what to expect in this episode.
1:16 - Chat GPT Prompt Formula - Goal: Learn how to set clear goals for your prompts to guide Chat GPT in delivering more focused and relevant responses.
2:30 - Chat GPT Role: Discover the power of assigning roles to Chat GPT, transforming it into a specialized assistant tailored to your tasks.
3:11 - Chat GPT [Practice] - Assigning a Role: Get hands-on practice with assigning roles to Chat GPT, making your interactions more dynamic and effective.
4:45 - Chat GPT Context List: Understand how providing context enhances the quality of Chat GPT's outputs by making its responses more informed and accurate.
7:15 - Chat GPT Define Target: Learn to define your target audience or outcome, ensuring that Chat GPT’s responses align perfectly with your objectives.
8:18 - Chat GPT TSL (Tone, Style, Length): Fine-tune the tone, style, and length of Chat GPT’s responses to match your specific needs, whether you're crafting a formal document or a casual conversation.
11:43 - Outro: Wrapping up with a look ahead to the final part of this series, where we’ll put everything together for ultimate Chat GPT mastery.

Tune in to elevate your prompt-crafting skills and make Chat GPT an even more powerful tool in your arsenal!

Chat GPT - Part 3 (BONUS)

Figuring The Figures

09/01/24 • 18 min

In the final part of our 3-part bonus series on Chat GPT, we bring everything together with advanced techniques that will elevate your interactions to the next level. This episode focuses on structuring prompts for clarity, using output templates, and optimizing your workflow with Chat GPT’s powerful features.
LINKS
Chat GPT: https://chatgpt.com

Timestamps:

0:00 - Introduction: A brief intro to wrap up our series, highlighting the advanced techniques we’ll cover in this episode.
1:16 - Chat GPT Format: Learn how to format your prompts for maximum clarity and effectiveness, ensuring precise responses from Chat GPT.
1:43 - Chat GPT Examples: Explore real-world examples of how to apply these formats, making it easier to replicate and adapt to your needs.
4:51 - Chat GPT Output Template: Discover how to create and use output templates that streamline your results and save time.
6:45 - Chat GPT Task Split: Master the technique of task splitting to break down complex queries into manageable parts for more accurate responses.
9:38 - Chat GPT ABA (Ask Before Answering): Implement the ABA approach to have Chat GPT confirm details before providing a final answer, reducing errors and improving output quality.
14:50 - Outro: A final wrap-up of the series, with a recap of key takeaways and a look at how to continue applying these strategies.

Finish strong with this advanced session and fully integrate Chat GPT into your workflow, optimizing every interaction for success!

#8 Baby Step 7: Build wealth and give

Figuring The Figures

07/19/24 • 23 min

In Episode 8 of "Figuring The Figures," we dive deep into Dave Ramsey's Baby Step #7, focusing on building wealth and giving generously. This crucial step is not just about accumulating wealth but also about creating a lasting legacy and achieving true financial freedom. Join us as we explore practical strategies for wealth-building, understand the profound significance of generosity, and hear inspiring success stories from those who have transformed their lives through these principles.

We'll discuss:

The importance of Baby Step #7 in your financial journey
Practical strategies for investing in retirement accounts and real estate
How to diversify your investments to maximize growth and minimize risks
Cultivating a generous spirit and understanding the long-term benefits of giving
Overcoming common obstacles to wealth-building and generosity
Real-life success stories that illustrate the transformative power of financial freedom and generosity

Whether you're just starting your financial journey or looking to take your wealth-building to the next level, this episode is packed with valuable insights and actionable steps. Tune in and get inspired to secure your financial future while making a positive impact on the world.