Joey Coleman paid off $70,000 to $80,000 in credit card debt using the week-by-week system from I Will Teach You To Be Rich. He's now automating his finances with an ING account and splitting income between spending and savings.
Joey Coleman.
Approximately $70,000–$80,000.
An ING account.
Hi, what's your name?
My name is Joey Coleman.
All right. And what's your name?
Barrett Oskie.
All right, welcome. And you were just saying something about the book.
I think one of the best things about the book is that it takes what a lot of people view as a very complicated subject. What do I do? Where do I start? And breaks it down into a week by week step. So week one, do this, week two, do this. Instead of having it be this daunting. Oh, I know I should be investing, I know I should be saving. I know I should have different bank accounts. You know, I know my existing banks. All those things by actually just going through step by step has made it real easy to feel like you're making progress and actually accomplishing something as you go.
Did you find that before the book you had barriers when it came to money?
I think I did in the sense that I had recognized that I needed to make some changes. So similar right before the book came out, I had gotten out of debt. I mean, I had 70, $80,000 in credit card.
Congratulations.
Thanks. And you know, burned through. And it was all from starting my own business. And so getting that paid off was great. But now it's like, alright, things are up and moving and chugging along. Now what do you do?
How do you get ahead? Alright, so when it comes to the weekly stuff, is there one or two changes that you've already made as a result of reading the book?
I'd say the automating definitely is that the ING account is in the process of being set up, so that's about ready to go through. And then it's just that idea of attaching to money that you might not otherwise be planning for. I think as an entrepreneur, it's a little difficult because I fall into the category you're talking about like the a freelancer.
It doesn't necessarily mean irregular income.
Irregular, but just siphoning things off at the beginning when that income comes in and saying, okay, this is the conscious spending, this is the conscious saving and building it out that way. It's worked.
Awesome. I'm thrilled to hear it. Thank you, thank you.
