The first actionable step you need to take in your wealth journey is freeing up some money. You may need to pay down some debt, stop living paycheck to paycheck, or simply increase how much you're investing. Where ever you are in your journey, AJ covers what you need to do to take a big step forward. 1. Stop spending it 1. Increase friction 1. Dave Ramsey talks about spending cash 1. https://www.forbes.com/sites/billhardekopf/2018/07/16/do-people-really-spend-more-with-credit-cards/?sh=1bd965511c19 2. Hide your cards for emergencies only 3. Budget!!! 1. Plan a budget where you can free up 15% 2. Mint.com 4. Write down your expenses 5. Look to find cheaper solutions to reoccurring charges 1. Like insurance 2. Start small 6. Adopt the 30 day rule for large purchases 1. https://www.listenmoneymatters.com/what-is-the-30-day-rule/ 7. Avoid FEES like the plague 1. https://www.cnbc.com/2020/07/14/us-households-spend-an-extra-577-dollars-annually-on-hidden-bill-costs.html 8. Look at the FUTURE cost of the item Check out our COMPOUND INTEREST CALCULATOR as described in the show: https://www.wealthyidiots.com/calculators/compound-interest Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots The Wealthy Idiots Website: https://www.wealthyidiots.com​ {SHOUTOUTS AND RESOURCES}: 1. Dave Ramsey - https://www.youtube.com/user/DaveRamseyShow Join Webull and get 2 FREE STOCKS after you transfer $100 or more: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj ... https://www.youtube.com/watch?v=IqfQM119TAU

Investing during a recession is scary! But the simple trick of dollar cost averaging makes investing REALLY simple and will help you weather this recession. AJ explains how his own dollar cost averaging looks over the last 12 months and it's easier than you think! The Wealthy Idiots Website: https://www.wealthyidiots.com​ Social Media: https://www.facebook.com/wealthyidiots​ https://twitter.com/WealthyIdiots​ https://instagram.com/thewealthyidiots Join Webull and get FREE STOCKS {Details in Link}: https://act.webull.com/promotion/invitation/share.html?inviteCode=YGUxWYdsbWwj 00:00 Introduction 00:53 Way too many people are buying high and selling low 01:39 Hey Dave Ramsey...Should I YOLO everything into Crypto? 02:06 What is Dollar Cost Averaging 02:55 AJ shows his dollar cost averaging on one of his Investments 06:24 What would dollar cost averaging look like over the last decade? 08:42 Conclusion ... https://www.youtube.com/watch?v=BUBngebCrkU