Doug Stephens, MBA

Dave Ramsey Counselor Doug Stephens, MBA, in Dallas, Texas finds that many clients share a common fear. He asks, “Why does that “B” word frighten everyone?”

The word that we are are talking about, of course, is budget. The word budget evokes in most individuals the feelings of fear and dread.  In general, many people feel that preparing and living by a budget may be a painful process. They feel that it will be tedious and interfere with their lifestyle. Some even fear that  it will be used by a spouse to control them or monitor their activities.

A budget used in conjunction with Dave Ramsey’s 7 Baby Steps can be a powerful tool. For new clients, the budget helps them understand where their money is going today. The vast majority of people that I meet do not know how much money they spend each month or exactly what they spend it on. The first budget for most people is a real eye opener.  Just the process of preparing a first budget can be extremely helpful for two income families. Many times it is the first time that both spouses have talked about everything that they earn and spend.

A better way to view a budget might be as a spending plan.  Using a budget helps ensure that you spend your money on the things that are important to you. You set the goals. You set the priorities. In contrast, many people just bump along financially. They work, get paid, pay the bills and so on and so on. Without the ability to monitor and direct their spending, these people will probably never achieve their financial dreams. This cycle is a prime reason why many people earn fine incomes for an entire career and still retire broke.

Typically, people discover that there are a number of other benefits that come from using a budget. Remember that the budget is a spending plan.  If the money is in the budget you do not have to worry about each little expenditure. When you are at the grocery you don’t have to wonder, “am I spending the money I am going to need to pay the electric bill?” Using a budget just helps simplify your life. Instead of saying no every time your kids ask for something, you may say,” yes,” or “we will have the money for it on a given date.” Many find that the peace of mind that comes with having a budget is well worth the effort.

Some people fear budgets because they fear the truth. They know that they are living beyond their means and are afraid to confront it. I try to encourage people like this to go through the budgeting process and take a look at the total financial picture. It may not be as bad as they think. In any event, understanding the problems is a good first step in solving them.

A budget is a tool and nothing more. Using a budget will help you spend your hard earned dollars on the things that matter to you. Managing a budget becomes almost second nature with a little practice. It will simplify your life and start you down that road to Financial Peace.

Dave Ramsey Counselor Doug Stephens, MBA, in Dallas, Texas is a Dave Ramsey Certified Counselor. He has over 30 years of experience in personal finance, investments, and small business finance. He specializes in developing practical, real world solutions for his clients. Doug is a successful real estate investor and frequently advises clients on home or investment property buy/sell decisions.

Doug Stephens, Dave Ramsey Counselor in Dallas, Texas answers the most commonly asked question. That is, Can a Dave Ramsey Financial Counselor help me?

The simple answer is that a Dave Ramsey financial counselor can help anyone. Dave’s 7 Baby Steps make it simple to prioritize your goals and take action…NOW.  Following the 7 Baby Steps to financial peace is straight forward and chock full of good old common sense. No crazy formulas or complicated strategies here.

People often ask me if they need to attend Financial Peace University or read Dave’s books to participate in financial coaching. Absolutely not !  The job of a Dave Ramsey counselor is to help you get started on the road to Financial Peace immediately. The key is to coach you and start with the basics right away. In my Dallas practice, I help clients develop a budget and begin working on a Debt Snowball. We discuss techniques for handling money and avoiding credit card debt. We also spend time working on a plan to build wealth.

You do not need to be in financial distress to benefit from financial counseling. Maybe you are just wondering how to pay for college or save for retirement. Perhaps you are unsure about where you should invest your money.  You may ask,” should I put it in a 401K Plan or a Roth IRA?” Counselors use Dave Ramsey principles to answer just such questions We also lay out an  investment strategy  that will answer all  these questions in the future. A Dave Ramsey counselor can help identify and avoid common investing pitfalls that affect everyone.

Successful financial counseling is based upon finding realistic ways to improve your finances. Counselors review your financial situation in detail and recommend actions. The emphasis is on improving your future. Past mistakes and assigning blame have no place in this process. The counselor’s focus is on where the client stands today. The task, then, is to help clients achieve their personal financial goals. A plan is tailored to individual needs using the 7 Baby Steps.

Financial coaching can be particularly useful for couples. What better way to develop common goals and a plan for achieving them? In most couples one spouse manages the money and the other spouse is sometimes clueless. When couples attend financial counseling together it helps both of them understand their total financial picture. They can then understand their individual roles in making the family’s financial dreams come true.

Working with a counselor can simplify your life, improve your finances and relieve tons of stress. As a Dave Ramsey Certified Counselor my goal is to help you manage your finances as simply as possible. With the 7 Baby Steps we can clean up any problems and point you down that road to Financial Peace.

 Dallas Financial Coach Doug Stephens, MBA,  is a Dave Ramsey Certified Counselor serving Dallas, Texas and the DFW metroplex. He specializes in financial coaching with individuals and small businesses. He has 30 years of hands on experience with investments and personal financial management.  His specialty is providing real world advice tailored to the unique needs of individual clients.