Inside the Alliance Coaching Program: What Really Happens (and How It Can Help You) | 79

Do you ever wonder what is actually happening inside the Alliance coaching program? So if you've been a part of the show for a little while, you've heard me talk about it. Today we're going to take a little sneak peek behind the scenes and share with you what actually happens inside the Alliance coaching program. And one of our first members of the Alliance asked a question in one of our recent office hours about what to do with some extra income. And she's a new homeowner. And just talking about the reality of day-to-day life and spending our money and trying to make wise decisions for ourselves, for our family and for our finances and our future.

So that's what the Alliance is about. And so I hope that today's behind the scenes look is helpful for you, encouraging for you, and also helps bring some clarity for you and your money.

Welcome to the Debt Ripple podcast where we discuss the insurance and outs of personal finance for families so you can eliminate the burden of debt, create financial margins, and learn a new way to interact with your money. I'm your host, Jules, the Budget Nerd, and I have been in your shoes. My husband and I have paid off over $107,000 in consumer debt until we finally threw in the towel and decided it wasn't for us. Throughout our journey, we learned another way to do life without debt, and that's my hope for you.

You can learn more about our story and see full show notes on my website, julesthebudgetnerd.com. That's JEWLZ, the budget nerd.com. Now let's dive into today's episode. I know for myself when, you know, it talks about like a membership or subscription or something. I'm like, First off, I want to know what am I signing up for and how do I get out of it if I don't like it? Oh, I'm just going to share with you a practical, real world example of what it's like to be a member of the Alliance coaching program and see what kind of support that we get and what kind of moments we have, one to celebrate with each other, the conversations that take place.

And so I'm going to play a short clip from this last month's office hours. And it's just that live Q&A time that we get together once a month. And it is just ask me all of the questions. One question that came up from one of our longtime members and she asked about some additional income that's going to be coming in on a regular basis and what to do with that. And we also talked a little bit about home ownership and just making choices that will continue to align with what matters most to our family, but also providing those things, the roof Riverhead and making home ownership a blessing and an enjoyable experience.

Hopefully it will help you and bring some clarity. OK, so let's go back to the question, because this is the one that you had posted earlier today. I believe it was about that extra, that extra income because you're, you now are going to have additional income on a regular basis. And what do you what do you do with that? So, so Allison, I know you have your $1000 emergency fund already, already taken care of. So if you, if you don't already have that and this is a situation you're in and I would put that extra money towards that $1000 and then get and then that debt snowball.

So the debt snowball, if you're not familiar with it, is smallest as you're going to list your debts out by balance from smallest to largest. And then you're going to pay the minimums on all of them except for that first one. And then you're going to put any extra income. And that's why this budget comes into play because you'll be able to see all of your bills are taken care of. And then at the very end are your debts. And then any extra income that you have is going to go towards that. So I would say the basic answer, Allison, for your question is to put it towards that debt snowball, because once those things are taken care of, you don't have to think about them again, right?

And it's over and done with. And then you get to you get to add that debt free to your name. And you're like, this is such a good feeling. It's a such a huge victory. I would say the only caveat to this would be because one of the things you put on here was a home improvement or a mortgage payment. Now I would say the home improvement part would be something that I would say maybe this is, this is a conversation and something for you and your husband to talk about. And the only reason I would say why you could put it towards the home improvement fund would be if you know, for instance, very soon you're going to need to be replacing something like a roof or you have something that you know is coming to the end of its life in your home, then maybe putting that towards that would be, would be beneficial.

So yeah, it's not like it like everything here is fine, but like my bathroom is very dated. My sinks aren't, they don't, they're not thriving and I have problems with them. So I it's like those things they're cosmetic, but they're also like borderline about to be functional, like not functional. So that's why I'm like, but then am I justifying it? Because if it works, it works. If it don't, it don't. I don't know. And that's where I get kind of wishy washy with myself is I would love to take $400.00 a month in my situation to paint the other rooms, to replace the sinks, to demo that wall in the living room that I hate, you know?

You know, I got a quote from a friend that said that he would do my whole kitchen remodel for 10 grand because he's just starting out. And I was like, I don't want to lose that deal. Yeah, right. Those are some things that I think about that I'm like you know $400.00 a month saving for my remodel. I may or do I make it a line item and just say we have this discretionary income, I can create that and hold on to it. I don't necessarily have to get rid of that. And you could do, you know, I mean, it's 400, so you could do a little bit towards that home improvement fund and then put the rest towards your debt.

And that's what you, that's what you could do. It really, I would say when it comes to like the cosmetic stuff, like you dealt with it this long, I totally get it though, because I'm like, Oh my gosh, I just cannot stand looking at something for so long. But then like, OK, but if you're so close to that, that debt free, that debt free date and having that car just that and having your car paid off, then maybe you can look at it for a couple more months. Do you know what I mean? Yeah. And I have to ask myself, would I rather have my car paid off or would I rather spend a couple $100 in paint?

That's the work that I have to do. And I think my answer would probably be I'd rather be debt free. I'd rather have my car paid off. Because that's. $380.00 a month that I could easily use the next month that that it's paid off to buy the paint that I need for the. House and then you'd have both accomplished they're just waiting just one month right. The other thing I would say is if like, you know, for instance, like the faucets like you're talking about, like, OK, maybe they're kind of like they're going to be at the end of their life soon, but you don't necessarily know when.

So for example, worst case scenario here, you put that for $100 towards your debt and didn't put it towards the home improvement stuff. That would be something that if it started leaking, if the faucet started leaking and you need to replace it, then that would be something to dip into that $1000 emergency fund for and then just replace that. That's so funny, after I saved that $1000, it is like pulling teeth for me to even think to spend it. And I think Adam said that. Was it Adam or you on one of your earlier podcasts, you had said that you or somebody else that you were talking about, it was also hard for them.

They would find ways not to spend it. Like I'm over here like I'm going to sell my riding lawn mower because I don't need it. I will. I will put in the effort to make money, marketplace, sell things, OfferUp services that I have like my camera, take photos, senior photos, whatever. I will do that before I touch my emergency fund. Yeah, good for you. And you know what, there's a lot less emergencies happen when you have that because that is your, that's your quote UN quote credit card where you normally in the past would have gone for that.

And just I want to give a huge kudos to Allison for knowing that this additional income is going to be coming, but creating a plan for it before it comes. That's a huge win for her and her family. But it's the kind of support to that we provide every single month inside the Alliance coaching program is stuff comes up. We don't know what kind of questions we're going to have about our money at any at any moment. And so that's why having access to myself and our community to learn and grow together and kind of have that, that feedback loop, because sometimes we can be in our own vacuum when it comes to like, I think this is the right choice.

But you can get some feedback from from other people that have been there, like myself, and be able to walk into your decision making for decision making process with confidence and know that the decision that you make for your family and for your finances is one that is the right choice for you. And so that's the kind of support that we have every single month. But I hope that this episode was helpful for you today and an encouragement and a reminder to when you're starting out your debt free journey is start with that $1000 emergency fund.

That's a do not pass go, do not collect $200 unless it's going into that emergency fund. You are going to start out with that $1000 and making sure that that's set up because that is your new credit card. The Alliance coaching program is way more than just content, even though all of the classes that I teach are archived in there so that you can go back and watch them over and over again if you want. There's challenges, there's accountability, and there's also community of other families that are doing this journey alongside you.

And of course, our live coaching opportunities that will help you create the kind of life that you want for you and your family. Create a plan that you'll actually stick with. So if you're tired of just trying to power through it all on your own, we're here for you and we're we're ready to help you make some progress and eliminate the money stress the guesswork. So come join us inside the Alliance coaching program and you'll get access to monthly office hours just like you heard a little bit ago.

And also our budget Co working sessions, workshops and a community of other families on the same journey. Thank you so much for listening and we'll see you inside the Alliance coaching program. Thank you for listening to the Debt Rebel podcast. Now, if you want to take your next step, check out my website, julesthebudgetnerd.com. That's JEWLZ, the budget nerd.com. I've created a bunch of resources just for you. So hop on over, check it out, and we can connect more there. If you love today's episode, I would be honored if you would hit that subscribe button and leave me a review.

And remember, every step towards financial independence is a rebellion against debt. So stay strong, keep pushing forward and fight the good fight until next time. Debt rebels stay resilient. Yeah.

Game plan