Successful debt management starts with healthy money-saving habits. Whether you’re struggling with debt or you want to create a budget to start building your savings, debt management money saving experts are available to help. You don’t have to spend an arm and a leg for advice from a financial expert. Many debt management money saving experts share their tips, resources, and best practices through published books, social media, or online workshops. Here are four debt management money saving experts to follow to help you get your finances in order.
1. Robert Kiyosaki
An American businessman and the author of “Rich Dad, Poor Dad,” Robert Kiyosaki is a globally known debt management money saving expert and the founder of Rich Global LLC and the Rich Dad Company, a private financial education company that provides personal finance education on investing, real estate, cash flow, and business building through books and videos. In his book, he talks about building wealth not by being an employee, but by being an entrepreneur and owning assets that bring in passive income.
He also touches on debt, making a distinction between good debt and bad debt. Liabilities such as taking out a loan for a car are considered bad debt because it’s paying for something for which you don’t have the money. On the other hand, good debt is used as leverage to grow wealth through investments. He advocates making your money work for you, not the other way around.
2. Barbara Corcoran
Barbara Corcoran is a debt management money saving expert and businesswoman, author, television personality, investor, speaker, consultant, and syndicated columnist. She is the founder of The Corcoran Group, a real estate brokerage in NYC. She has received numerous awards and been recognized as one of the top debt management money saving experts.
She has spoken about her financial troubles throughout her 20s from bouncing checks to using credit cards to make purchases with money she didn’t have. The advice she wished she had given herself was to spend at least one week where you only use cash instead of a credit card. When you only use cash, you have a limited amount, and it forces you to be more conscious of your budget. Studies have found that people tend to spend more when making purchases with credit rather than cash. She shares advice that she wishes she received early on in life: spend only what you can pay off at the end of every month.
3. Suze Orman
Susan “Suze” Orman is a financial advisor, author, and podcast host. She founded the Suze Orman Financial Group and hosted The Suze Orman Show on CNBC. She helps people with money management and points out areas that need work. Suze advises becoming familiar with your finances by opening every bank statement and looking at every account so that you can have all of the information in front of you to set priorities on what to do next. To start managing debt, she suggests you tackle credit card debt first and try harder to save money by evaluating spending habits.
4. David Bach
David Bach is an author well known for “The Automatic Millionaire” and “Finish Rich.” He’s also a motivational speaker, television personality, and entrepreneur. David has been teaching people how to be smarter with their finances since 1994.
David’s number one financial advice is to pay yourself first and put that money toward retirement. He proposes that after paying fixed necessities such as mortgage/rent and other bills that you use what money is left to live off for the month.
Follow These Debt Management Money Saving Experts
Handling financial hardship on your own can be overwhelming and stressful. If debt and money management are concerns, be aware that these debt management money saving experts share advice and tips on their websites or social media accounts. Find a money management plan or method that works for you and start saving to achieve your financial goals.
