Case Study: Saving $30,486/Year Of Interest In 8 Hours

One of my clients, George, went through our Design Mastermind and had some exceptional results.

He saved $30,486 A YEAR in interest payments!

But here's the craziest part...

Including the 4 hours he spent in the Mastermind, he accomplished this in a total of EIGHT HOURS.

That's the same as making $3,800/hr. Not a lot of jobs pay that well...

Let's go through this adventure we went on together that had a crater-sized impact on their life by simply moving a few bucks around and making some phone calls.

1. Intro

George and his wife have dual-citizenship and a full time job.

He has a side hustle working in the National Guard. 

They both work and have high incomes but were choked by high amounts of high interest debt.

They have children and a mother and sister who recently moved in with them but cannot work.

2. Background

George came to me through a referral on LinkedIN. His drive to seek out help was primarily rooted in a loss of 3 types of wealth: time, health and financial. 

• He was waking up every night and checking his bank accounts daily
• His anxiety and averaging less than 5 hours of sleep a night were impacting his health
• There was constant anxiety about missing payments and protecting their good credit score (700+)
• His wife supported him in the fact that they needed help
• They weren't living particularly extravagantly but were barely in the red regarding cash flow every month.

3. Goals

These were his stated goals that we discussed when he got started.

• Want to have SOMETHING in savings (emergency fund)
• Have a financial system and routine
• I want to sleep (light sleep, doesn’t fall asleep easily, goes to bed at midnight, brain starts waking him up at 5am most days)

4. Challenges

There were a few things challenging their family.

• 18-month old baby
• Monthly personal loan and credit payments of $6,459 ($2,033 was 10% or more)
• Mom and sister who recently moved in but couldn't work (additional costs for them)
• Monthly cash flow had zero wiggle room ($15,630 income vs $15,230 expenses)

5. Coaching Focus

We started with an in-depth assessment to identify their core motivations and WHY Statement.

Following the money, it became clear that there wasn't a strategy in place with how it was spent.

They were doing a lot of little good things that were being overwhelmed by the bad stuff.

We focused on making a big "money pile" by

1. trimming some investments that weren't outperforming debt
2. negotiating bills down
3. consolidating debt for better interest and payment terms

By simply moving money around with a specific goal to reduce the highest interest debt, we made significant progress quickly.

They had one big advantage we were able to utilize which was significant equity in their home. They had owned it a few years and had significant value there.

Between negotiating credit card interest, negotiating payment amounts on other debt, and then utilizing a HELOC to knock out high balance/high interest debt...

We were able to save them $30,486 in interest annually.

6. Breakthrough Moment

We started with the low hanging fruit and got some small wins fast.

By the end of our first call, we had found a simple way to redirect some significant cash flow towards high interest debt.

When they realized how significant the reduction of paying off high interest/low amount loans were, they understood that there was hope and that they could get big results fast.

A new vigor and motivation was immediately visible in their body language and smiles.

7. Return on Investment

George still has 9 months on his membership for accountability and help with new situations along their journey.

You can't put a price on sleeping better and improving your health (actually, you kind of can since it will show up in future doctor bills and lost productivity).

Including gains in other investments so far along with the reduction of debt, the ROI of their investment into the program SO FAR is 1128%. 

8. Testimonial

"After years of financial anxiety, I was referred to Stephen by a trusted financial advisor.

From our very first session, I knew I was in great hands.

Stephen's expertise and personalized approach completely transformed my financial situation.

In just four hours, he helped me save $17,000 and pay off $67,000 of my debt.

His strategies for budgeting and managing my finances effectively have given me the freedom to pursue my dreams and live a more fulfilling life.

Not only is Stephen incredibly knowledgeable, but he's also an excellent listener.

He took the time to understand my unique financial situation and used visuals to illustrate the changes we were making from day one.

This made the process much easier to understand and follow. It's like a weight has been lifted off my shoulders.

Thanks to Stephen's guidance, I'm now sleeping peacefully at night, free from financial worries.

If you're struggling with financial stress, I urge you to reach out to Stephen. He's a game-changer."