>> Julia: EARLIER ON "SUNRISE"
DURING OUR NEW YEAR NEW YOU
SEGMENT, WE SHARED THE FIRST
THREE STEPS TO LEAD TO YOUR
FINANCIAL SUCCESS THIS YEAR.
>> Ben: I DON'T KNOW ABOUT YOU,
BUT IT WAS GAME CHANGING FOR ME,
MY REPORT.
I SAT DOWN WITH BRENT PERRY,
FOUNDER OF FINANCIAL VISORS
FOUNDER OF FINANCIAL VIADRS
FOUNDER OF FINANCIAL VIADVISERS.
>> Julia: ELIMINATE THE CREDIT
CARD DEBT.
OVERSPENT AT CHRISTMAS, NOW
STARING AT MASSIVE CREDIT CARD
DEBT.
OPEN UP THE CARD STATEMENT, AND
DON'T JUST LOOK AT THE INTEREST
RATE YOU'RE PAYING.
LOOK AT THE ACTUAL DOLLAR AMOUNT
YOU'RE PAYING THE CREDIT CARD
COMPANY.
THAT MIGHT BE STAGGERING.
HE SAYS BEFORE YOU PAY ANYTHING,
THOUGH, YOUR FIRST STEP SHOULD
BE A PHONE CALL TO NEGOTIATE
YOUR INTEREST RATE.
>> GOOGLE SCRIPTS FOR
RENEGOTIATING CREDIT CARDS,
THERE ARE SEVERAL FINANCIAL
WEBSITES, PERSONAL FINANCIAL
WEBSITES WRITTEN HOW TO DO IT,
HIGHLY RECOMMEND THAT.
>> Ben: YES, I DID THE DIGGING,
BECAUSE I'M THAT KIND OF
REPORTER, I FOUND SCRIPTS, I'LL
POST THEM ON WTHR.COM, YOU CAN
ACTUALLY USE WHEN YOU CALL YOUR
CREDIT CARD COMPANY, SURE, A
LITTLE CORNY, GO WITH IT, MAKE
IT YOUR OWN.
GOOD TIPS IN THE SCRIPTS.
ONCE YOU'RE DONE DOING THAT IT
IS REALLY DETERMINING WHAT CARD
YOU WANT TO PAY OFF NEXT.
SO PERRY SAYS SOME PEOPLE LIKE
TO PAY OFF CARDS MAYBE WITH THE
HIGHEST INTEREST RATE FIRST,
OKAY, SOUNDS SIMPLE.
OTHERS PAY THE LOWEST FIRST,
LOWEST BALANCE.
NO PERFECT WAY, HE SAYS DO WHAT
WORKS FOUR, WHAT YOU CAN HANDLE.
NEXT TIP, DON'T USE ALL OF YOUR
SAVINGS TO PAY OFF YOUR CREDIT
CARDS.
HE SAYS IT IS TEMPTING TO USE
YOUR BUILT-UP SAVINGS TO WIPE
OUT YOUR CREDIT CARD BILLS.
FIGHT THE USUAL, UNLESS YOU'RE
COMMITTED TO BUILDING YOUR
SAVINGS BACK UP SOON.
IT IS SO TEMPTING TO SAY YOU
KNOW WHAT WE'VE GOT $10,000 IN
SAVINGS, $10,000 IN CREDIT CARD
BILLS, DON'T DO IT, BECAUSE YOU
NEED A SAFETY SAVINGS ACCOUNTS
FOR THE UNEXPECTED EXPENSES.
>> LET ME GET A SMALL CASH
BUFFER SO I CAN HANDLE A SMALL
CAR REPAIR, OR IF I NEED TO
REPLACE A WATER HEATER, A SMALL
MEDICAL BILL, YOU'VE GOT
SOMETHING TO RELY ON.
OTHERWISE, ANY EMERGENCY IS
GOING TO CAUSE YOU TO PUT MORE
MONEY ON THAT CREDIT CARD.
YOU DON'T WANT THAT TO HAPPEN.
>> Ben: NO YOU DON'T.
IF YOU ARE WANT TO BE MORE
RESPONSIBLE.
HERE'S THE THING.
>> Julia: YOU WILL YEAH.
CASH IS KING.
>> USE CASH ENVELOPE METHOD.
AMAZINGLY EFFECTIVE.
CREDIT CARD AND PLASTIC DETACHES
YOU FROM YOUR MONEY.
>> Ben: DO YOU USE CASH.
>> Julia: NOT AS MUCH AS I WOULD
LIKE.
>> Ben: LEARN FROM CHUCK LOFTON,
CASH IS KING.
IF YOU HAVE MULTIPLE CREDIT
CARDS ACCOUNTS, CLOSE THEM OUT.
IF YOU'RE AFRAID OF HURTING YOUR
CREDIT SCORE, LEAVE IT DORMANT.
CUT UP THE CARD IF YOU HAVE TO
TO RELY LESS ON YOUR CREDIT CARD
AND USE MORE CASH.
OKAY?
NOW, HERE'S THE THING WHEN IT
COMES TO FINANCE, CUT, CUT, CUT.
AT SOME POINT YOU CAN'T CUT
CERTAIN THINGS, YOU HAVE TO EAT,
A PLACE TO STAY.
BRING IN MORE MONEY.
MAYBE IT IS TIME TO ASK FOR A
RAISE.
TRICKIEST TIP, BUT WHAT'S THE
BEST WAY TO GO ABOUT THAT?
>> YOU NEED TO MAKE THE CASE.
WHAT HAVE BY
WHAT HAVE I BEEN DOING, WHAT
PROJECTS HAVE I ACHIEVED AND
DELIVERED FOR THE COMPANY OR MY
DEPARTMENT, RIGHT?
YOU'RE MAKING A PRESENTATION.
WHAT IS MY CASE FOR BEING PAID
MORE?
MAYBE YOU CAN LOOK AT OTHER
COMPANIES, WHAT'S THE AVERAGE
SALARY.
AM I BEING PAID FAIR OR READY TO
MOVE UP TO THE NEXT LEVEL IN MY
JOB.
>> Ben: BRENT SAYS THIS IS
TOUGH, BUT MAYBE IT IS TIME TO
TAKE ON A PART-TIME JOB.
LOOK AT COMPANIES LIKE UBER AND
LYFT, FLEXIBLE WHEN IT COMES TO
HOURS, DRIVE WHEN YOU WANT TO,
WORK AT YOUR OWN PACE.
BRING IN EXTRA CASH FOR YOU AND
YOUR HOUSEHOLD.
I MENTIONED THREE OTHER TIPS YOU
CAN USE TO START THE PROCESS
WITH YOURSELF OR FAMILY HERE IN
2019 TO GET FINANCES IN ORDER.