Home Cashflow Hacking Podcast Finance & Markets Cashflow Hacking Podcast Episode #2 – Greg Whitaker

Finance & Markets Cashflow Hacking Podcast Episode #2 – Greg Whitaker

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Navy Veteran And Founder Of Debt Shepard Greg Whitaker Joins Us On The Podcast

Greg shares his story of how he eliminated tens of thousands of dollars in debt, and now empowers others to do the same. From earning $5.15 an hour working in television operations after leaving the Navy, to becoming a successful mortgage banker, Greg has helped hundreds to take charge of their finances and escape the crushing weight of consumer debt, and now shares his best advice to help you do the same.

For more information on Greg Whitaker and Debt Shepherd, visit his website at:


YouTube Interview with Greg Whitaker from Debt Shepherd

Intro: 00:11

This is the Finance & Markets Cashflow Hacking Podcasts, streaming to you live, exposing the methods behind unlocking colossal wealth, your host Casey Stubbs.

Casey Stubbs: 00:24

Hello. This is Casey Stubbs were getting ready for the Finance and Markets Cashflow Hacking Podcast and I’m here with Greg Whitaker from Debt Shepherd radio where he gives a weekly podcast where you gives financial advice and information on how to destroy debt. All right, Greg, thanks for coming on the show.

Greg Whitaker: 00:47

Good morning, Casey. Thank you for having me. I greatly appreciate it.

Casey Stubbs: 00:50

You’re welcome. So can you tell me a little bit about yourself? A little background?

Greg Whitaker: 00:57

Yeah. Um, I, uh, I was in radio in the late nineties down in the Mississippi Delta and I met my wife on the Internet in a chat room before really before the Internet was popular. And uh, the next biggest market for radio was Nashville. So I moved up here to Tennessee and a maybe a year or two. I worked in TV just in operations, is making about 5:15 hour. Really need to put some bread on the table. So I started to study a buying and selling second, second mortgages, privately held notes that call back in those days and just organically got into the mortgage business, just pull out the yellow pages and started making phone calls and got a job about two miles up the road and been in it ever since. It’s uh, it’s, it’s, uh, I’m not getting rich, but it’s a good one.

Casey Stubbs: 01:38

OK. So that’s, that’s pretty good. So how, how did you actually find out how to get it started in that? Did someone give you some tips or some advice or how did you find, find that path?

Greg Whitaker: 01:51

I really don’t know what it is that drove me to finance. Um, I can remember back in the eighth grade for some strange reason being interested in being a real estate agent. I don’t know why that might’ve had a tiny little piece in there in my brain. But, uh, I, I really didn’t know anything about the business other than what I had read online back in the late nineties. There was a lot of information out there. Google was not yet born. To my knowledge. Youtube was definitely not born a, Facebook was not, or none of the social media that we have today was born, so they were playing out there, but you just had to dig a little bit more. Um, it wasn’t as freely available, free like it is now, but, uh, I just started studying the basics and then I went into the classifieds in the newspaper and I found a guy that was flipping houses and uh, he just needed somebody to run and do things.

Greg Whitaker: 02:37

I called him and thankfully he took me under his wing. He didn’t pay me anything. I just kind of tutored underneath him and I wanted to call people on the phone interview then that are selling their houses for sale by owner. Find out if they had a good enough equity position for us to buy that property while him to a lot of property. He was the investor. And uh, he told me, he said, you need to buy financial calculator. I paid about $35 for it. And that literally changed my life when I won the power of compounding interest. Everything changed for me.

Casey Stubbs: 03:04

OK, well, you know, uh, I like that story because I think a really, for me, a big nugget that I just pulled out of that was that you had someone that you could learn from and I think that, uh, specifically for me, the big story of success is to have mentors and people that have been successful and just spending time with them, working with them, letting them train you and teach you is really huge. Uh, it sounds like you were able to get into that a little bit.

Greg Whitaker: 03:37

Yeah, I got lucky that gentleman, I haven’t talked to him in years and he turned me onto, you know, effects and multiple email accounts and you know, a little bit of the tech. I was heavily into tech in the late nineties and radio. I got lucky in that aspect and uh, it has helped me tremendously in banking because everything is, everything is online, everything is cloud. I still work with people my age. I’m 49 this year in April that don’t know that dictionary.com exists. So it’s, uh, it’s, it’s been an interesting, interesting eight years. My wife is actually a retired banker. She had been retired for about two years, so it’s a kind of in the family a little bit. Her Dad or her grandfather owned a small bank up north back in the old days. Your mom’s a retired banker, so I got lucky and married a woman who’s very fiscally conservative.

Casey Stubbs: 04:26

Well, that’s actually a pretty good, pretty good setup than to have your wife helps you with managing your finances and to really have the vision for being financially sound.

Greg Whitaker: 04:39

Yeah. We, uh, in 2006 we hit it. We hit a roadblock. We were, I think two, two credit cards were paying 2:50 a month. Each 500 a month was going to plastic. We weren’t getting anywhere. We made about 80th 5,000 between the two of us at that time. Gross. We are both bankers and we were not saving any money. We weren’t stupid. Uh, we weren’t disciplined. We just simply didn’t have any kind of a plan. So we said, I said, OK, I need to, I need to find someone to mentor me and teach me. And I found a guy by the name of John Commuter, he’s still is around, he still teaches and he’s mainly a publisher and I paid probably $350 for his package, which I had never done. It took a huge leap of faith at that time and about two hours in there and I found a one worksheet on a prioritize your debt, how to prepare it and how fast you’ll be out. I didn’t need anything else in that box. And I said to my wife, look at the math, check it. She checked it, I checked that she checked it, I checked it. And in a year we paid off $17,000 in plastic and I had the title to my truck.

Casey Stubbs: 05:36

OK. So based off of that sheet, did you know exactly how long it was going to take you to get out of debt at that point?

Greg Whitaker: 05:46

Yeah, it was on average, if you use 10 percent of your net income, this is on average. Now this has changed a bit. You know, credit cards have gotten a little bit nastier for some, a little bit less for others. Five to seven years on average with 10 percent of your net income using that to prepay your debt. A Dave Ramsey describes it beautifully as the snowball and he lives right here in the Nashville area. He’s very well known. It’s very simple. I didn’t invent it. Somebody taught it to me. I thought I was smart. I was a banker in my wife was a banker and A. I think at that time it was about seven and a half at that point. We moved a handful of times to try to downsize. You don’t get the mortgage down and we’re now finally at a point where I can be out of my mortgage note in about four years if I continue to prepay, we’ll about $40,000 house.

Casey Stubbs: 06:32

OK, so the term prepay your debt. What does that actually mean?

Greg Whitaker: 06:40

We’ll just use a simple example. Let’s say you have a credit card. It doesn’t matter what the balance is. Let’s just say it’s $5,000 and the minimum payment is two percent of that. Let’s just say the minimum payments on [inaudible]. I’m just using the number. Doesn’t matter. The math doesn’t matter, and every month I send them the minimum payment. You can literally pay on that credit card for decades if you just make them a payment because of the compounding interest just adds up every single day. It’s actually computing while you sleep and getting bigger. So all you do is add more money to the minimum payment. And in our case, the guy had recommended to me 10 percent and at that time I was getting lots of, over time I was getting occasional bonuses. We sucked every extra penny we had, adding to the minimum monthly payment of, of the largest balanced credit card. We stopped paying 2:50 a piece on two credit cards. We went to making the minimum on one and we focused the minimum plus everything we could hammer onto the other one. And that’s when everything changed.

Casey Stubbs: 07:39

OK. So then the, the 10 percent that was enough to get you out of debt in one year?

 How Greg Escaped debt by using delayed gratification Greg Whitaker: 07:46

Well, we, at that time we had um, a couple of credit cards. My truck only, I only had maybe four or five on that. We did have a mortgage that was basically everything except the mortgage. So in a year plastic was gone. Truck title and hand. It drives better by the way, when you own it, free and clear. We did have a house note obviously. Um, and we, we knew that was temporary. We only lived there for a couple years, but the place that we live before that or mortgage payment was twice what it was in this place. So we were there for a season and then we moved and we moved again since then. And now we’re where we are now. So now I’m finally in that. I’m in that event horizon on worrying houses in the crosshairs, I’d say four years. Um, we put it on a 10-year note. I’ve never refinanced in my life and I’m in the mortgage business, but when I saw three point one, two, five a couple years ago, I put it on a 10 because we had just bought the place. And now we’re prepaying little chunks here. Little chunks in there. I sent an extra hundred and over time it shows the back end of that balance, that principal balance. And before you know it, um, you’re, you’re looking at a, just a handful of years ago in your house.

Casey Stubbs: 08:53

what do you, is one of the most important things that a person can do when they’re really getting serious about improving their financial situation?

Greg Whitaker: 09:04

That’s a beautiful question. You have to stop spending the money. It’s a, we’re in a boat. There’s a whole, there’s a hole in the boat, are several holes in the boat. That’s the, that’s the deck coming in. We have to plug the holes. So the simple analogy is if you’re going to get serious about getting out of debt, changing things, and I’m talking about normal working people on that too. It can be anybody really, but I’m talking about just normal people. I’m not talking about you have five corporations and someone does your taxes and your writing off depreciation and all that. Just normal regular people just stop borrowing money and it doesn’t mean you’ll never borrow money again. You’re only stopping for a season so you can get ahold of that credit card that we talked about with the thousand dollar balance, and you can focus as much of your gross or your net income. It doesn’t have to be 10 percent. You might not have that. You may look at your budget and you might not be able to squeak out that 10 percent. You may only be able to do anything. We’ll get this thing started. It’s like a brush fire and once you light it, it just consumes all of the tumbleweeds in your garden and before you know it, you’ve got a clean slate you can work from.

Casey Stubbs: 10:07

So it’s. It’s like the way it’s the exactly the same way that debt gets away from you, but in reverse.

Greg Whitaker: 10:14

exactly all you’re doing is for season. You’re stopping spending. You’re focusing as much extra money on that first. A depth that you picked

Greg Whitaker: 10:24

by the way, doesn’t have to be the largest balanced. Start with the smallest balance. Dave Ramsey will tell you this, and I don’t worship anybody. I’m just using him as an example. You’re going to get the quickest kill. You’re going to get cheated on the Serengeti, you’re going to get that small little gimpy, a little gazelle. It’s going to be a quick email with the least amount of risk of injury. You’re going to have a victory is going to take time, but once you get going, you’re going to start to see, wow, and you can always do the math. OK, we’ll [inaudible] on the credit card. We’re paying $400 a month, delight the payment into the balance, and I would do that every single two or three months because I just could not stand to have this thing hanging around my neck anymore. You’ve got to get really, really, really sick and tired. That’s. That’s really what has to happen other than stopping spending money is you got to get fed up.

Casey Stubbs: 11:08

Now, you probably talked to a lot of different people in different financial circumstances that are of people that have debt. Do you ever talk to people who feel like it’s the problem is that they just don’t have enough money and if they only made more money, that would be the solution to the problem?

Greg Whitaker: 11:26

Yeah, but I mean, that’s really how my wife and I felt as an example. Um, we just didn’t see micro check was big enough and we did not buy jewelry. We didn’t buy fancy cars. We didn’t gamble. We didn’t smoke weed and drink. We didn’t do anything that you could say, man, you’re really blowing your money. It was car repairs. It was the bill. It was things like that. Um, it’s, it’s, it can be very, very frustrating. Um, I just lost my train of thought in my brain, just completely snapped. I’m don’t have a problem admitting that happens. You get tired. You have to really, really get sick and tired, but it can be done. It’s really not that hard. Once you get used to doing it, it becomes a game and he’s just a game that you play every time you get paid. It’s just a game and you just play it and you say, how much more can I add to it? Bonus overtime, Christmas money, birthday money, that type of thing.

Casey Stubbs: 12:19

What is the real benefit for doing that? Because I think a lot of people may say, well, that is great for him, but hey, I can’t do that because I’m missing out on this stuff that I want. is it like if, if you’re missing out on things that you want, is it really worth it to actually try to get out of that?

Greg Whitaker: 12:38

For me it is. And basically you’ve tapped probably the deepest question that anyone can ask Greg, and I’m just going to say the question because it needs to be said and you’ve led me right into it. Great. What is the biggest problem in the United States? I can only speak where I live. Delayed gratification. People in America do not know how to delay gratification. Typically speaking, not everyone falls into this category the most. Do you have to be able to say, OK, for a season I’m going to not buy all the things that I want every single time that I want them. We’re disciplining ourselves and I fall off this wagon so to speak. You know, I may have a little bit, little bit of a balance on a credit card for a couple of months. I prepaid as quickly as I can, so I’m not a saint and I’m not anti-debt, but it’s just for a season you have to look at your situation and say, if I continue to do what I’m doing, I’m going to continue to go where I’m going and get what I’m getting and if you want it bad enough, you can adjust your behavior and you can and you can knock out this debt.

Greg Whitaker: 13:37

It can be done, but most people spend their entire working careers paying interest and that’s why at the end of their working career in the US, statistically about 96, 97 percent of the people in the country, they don’t have anything other than maybe social security. They’re dead broke.

Casey Stubbs: 13:55

Yeah, and that’s pretty scary. I wouldn’t want to rely on social security for my life at any time at all ever. It’s scary. Yeah. What is the biggest benefit for delaying gratification? You know, we live in the microwave generation. You know, Mcdonald’s. If it’s more than one minute at the drive through, I’m going to throw a fit. So what? Based on our culture, why is it important to delay gratification, especially when it seems like we really don’t have to anymore.

Greg Whitaker: 14:29

For me, it’s important to delay in certain areas in my life because if I don’t, I’m going to get to the end of my working life. There is only so much

Greg Whitaker: 14:39

juice in your battery. You know you can’t work. You couldn’t work until you die. Some people actually have to do that in other countries, but there comes a time when you’re not going to be able to physically get up and pour concrete and lay brick and go into the office and do what you need to do because your body and your mind just eventually gets to the point where it can’t do those things and you don’t want to get to that point in your life and how a mortgage payment. I’ve seen people in their seventies refinancing their house off 30-year mortgage just to get the payment down. You can say, well, I need the cash out that that’s possible, but it breaks my heart to see someone in their seventies refinancing a note on a 30 year mortgage because they know they’re not going to live to pay off, but they need the relief for that monthly payment or they need the cash for something very, very important. That’s not where we want to be. My stepmother has no mortgage. My stepdad has no mortgage. Both parents are gone now and I have a cousin who doesn’t have a mortgage. I’m close to not having one. It can be done and I’m not even 50 years. It can be done even if you’re 70, you can still do it five to seven years on average with the money that you’re currently making. Most people couldn’t get out of debt.

Casey Stubbs: 15:48

I think that you’re right, and that thinking of the future is the biggest motivator to delay gratification because if you’re only thinking of the moment now, there’s not going to be any real motivation to delay the spending, but if you’re thinking of the future and not just maybe your future, but what you can do to impact the lives of others, your family, your friends, your community, even your own time. You know, if you’re responsible with your finances now, the impact that you can have in the future can be impact. It can be greatly amplified.

Greg Whitaker: 16:33

Yeah. The, uh, the last podcast episode that I did was WWGD upon on the old, what would jake, what would Jesus do? My Christian, but what would your grandparents do? That’s what WWGD stands for. What would your grandparents do? And the main point of that podcast that I just uploaded about a week ago is you can leave a legacy and it doesn’t have to be an inheritance. Most people don’t have money to give to their children when they die or land or a home. That’s OK. You can leave them your influence, what it is that you do, how you do it, what you speak into them. I don’t have any kids by choice. I’ve never ever will have them. I’m physically able to have them, but I choose not to have them. And my wife, when I met her in the late nineties, was unable to have them. So that worked out. But in the end, you’ve got to look at what it is that you’re doing. Who’s watching your children and what impact are you having on them. I hear so many people say, well, that person was born with a silver spoon in their mouth. Rich people teach their children how to be rich. Whether they give him the money or not when they die is irrelevant. You don’t just wake up and have the capacity to handle that much money. That’s why people who win the lottery are dead broke in about three years. Others,

Casey Stubbs: 17:45

right? Because there’s no container, there’s no nothing to manage it. It’s, it’s just, it’s a really silly thing. I actually went ahead and listened to your episode and I thought it was really good. And the thing that I can take away from that is I have a really good example from my grandparents. Um, they’re still living both of them today. They’re 80 seven and uh, they’ve lived in the exact same house since 1950. They bought the house, I think it was like a 25 or 30-year loan and it’s been paid off for, for like 40 years. It’s incredible. But the thing that’s really interesting is they grew up in the depression, so they were very frugal and I didn’t talk about money, but you just see it as an example. Like I was around them a lot, so I saw how they always paid for things and they never spent more than they can afford, but now they’ve, they’re like just doing extremely well. And the other thing to take away from that is my grandfather worked, it was not a an extreme job. He was just an average guy, right? I mean he worked in a machine shop and she stayed at home and took care of the kids and they’re by any standard right now they’re actually be considered wealthy because of their money management.

Greg Whitaker: 19:06

It’s amazing because everything you just said we could talk about literally for hours on end on this has to do with money and I’m not trying to be political. The family unit is being torn apart for various specific reasons why certain people in power. And that’s not a conspiracy, it’s a fact. It’s for what you just said. You saw what they did by example and the people that bought their home back in the, let’s just say the fifties and the sixties, they pay 25, $30,000 for a 1500 square foot brick ranch. That was brand new at the time. Why is that? House now costs five times that much. It’s because of a thing called inflation, which means the Federal Reserve just prints money endlessly and it makes us have to pay more in the future for everything. Right to your kids by example, teach your grandkids by example with that awesome story you shared with us.

Greg Whitaker: 19:57

It’s much more important than you think because we live in a microwave generation, like you said earlier, and the Internet is causing people to get more and more addicted to instant gratification because of the messaging and the Chinese and we have to step back. Me being us individually. I used to be mad at the government. I used to be mad at Congress. All those days were gone. It’s about self-empowerment. It’s about looking at what I’m doing, cleaning my own house, and then if someone comes along and says, great, will you teach me how to sweep the porch and clean my house? I do that, but I don’t chase people down on the streets and try to teach me because there’s an old saying, don’t cast your pearls to swine. Don’t waste your time on people who don’t want to be helped and I firmly believe in that and it definitely plastic finance.

Casey Stubbs: 20:41

I think that I’m going to talk about your show now, your, your radio show. I think that your message is probably going to be in great demand here in the future because of all of these things that you said just because of the instant gratification, the Internet, the lack of training, the lack of the family unit. We’re going to end up the financial situation of most people’s lives is not very good right now as it is, but I think it’s going to get even worse, but at some point people are going to wake up and they’re gonna be like, I need help. And then that’s when they come to a show like yours.

Greg Whitaker: 21:16

Yeah. It’s, um, I have a student that came to me three years ago. She found me on blog talk radio, being interviewed by someone else or I was interviewing them a great show. By the way, Robert Wesley branch top-notch. Um, she’s sticking to her plan. She had that little worksheet that I gave her that I told you about staffing your desk, pay a premium, and right now she’s three months away from having just one debt left, which is for student debt. I think it’s 10,000, 20,000. She does rent because she lives in New York. Things are a little different there. It’s super expensive to buy a house and she took on a part-time job at a deli and she sliced lunch meat on the weekends and she’s been doing it consistently for three years and she stays in touch with me and she calls me occasionally and we do a little time on online or on texting and we talked back and forth and she’s gone through.

Greg Whitaker: 22:05

I’m so tired of this job, I can’t stand that. I’m about to scream. I said, you have to focus and know that this is only temporary and she’s been on. I will tell you only about one out of 10 people that come to me actually stick to their plan to stay in touch with me where I can hear really what happened at the end, but it can be done. And you’re right, the A. I look at Congress, you know, it’s really easy to blame the president, whoever that happens to be. Well, we just spent one point $3,000,000,000,000. Yes we did. And let me explain what that means. Congress borrowed that money from a bank. The Federal Reserve Bank is not part of the government. It’s just like a bank of America. It’s just like any other bank. And when they borrowed that money, because they lack the discipline to spend within their means, they being Congress.

Greg Whitaker: 22:52

What is their means? It used to be tax revenue that is out the door. They have an unlimited credit card and all they do every year to spend more money. So if I’m not cleaning up my own finances, I definitely cannot complain about Congress or the President or anybody else passing a spending bill. So once I got my house in order on my wife and I do, things shifted and then it gets away from blame and it gets to teaching and sharing and you can do this and you can pass it on to people and it’s, it’s Kinda like I don’t have kids, I’ve never wanted them, but when I teach someone I sort of walk up and taking them under my wing for a little while and kind of helping them. That’s kind of like having kids.

Casey Stubbs: 23:34

Well, it actually, when you’re teaching people and when you’re sharing what you know, that’s leaving a legacy because it impacts other people and I think that’s one of the most important things that we can do.

Greg Whitaker: 23:48

So tell me a little bit more about your show. What’s it about? How do I get involved in it? How do I listen to it all, all of the details of that are simply, I call it the podcast, page depth shepherd [inaudible], d e, b as in boy, t as in Tom, Sheppard, s, h e, p as in Paul, h e r n d dot Com. You’d be surprised how many people can’t spell the word or the word shepherd. That’s OK. A couple of d is silent. You just go to that webpage and all it really is the podcast. There’s no blinking ads. There’s really nothing fancy going on over there. You just see the latest podcast episode there, and you can scroll down and see five or six. It’s real simple. Um, and then you could type a word of the archive or whatever. So you get over there, you can listen there.

Greg Whitaker: 24:31

Of course, iTunes, you’ll find me there. That’s really the biggest directory. There’s a few others. I don’t really track my analytics. I don’t really do that anymore. I did in the beginning because podcasting is fascinating to me. I love it. But if you get over there and check out that webpage, that podcast page, you can listen to a few episodes. And then at the top you’ve got your standard contact buttons. You Click on contact, you’ll see my email, you can call me. Uh, there’s a little voicemail listener feedback line there. And the whole goal of the podcast is to simply try to get people excited or interested about getting out of debt, cleaning up something in their life as far as their finances go. And it could just be a credit card, a debt, a mortgage. It doesn’t have to be everything. Some people don’t want to go a full Monte.

Greg Whitaker: 25:12

Some people just want, you know, the side salad, they don’t want the full meal. It’s OK. Um, and I just meet people where they’re at. And that’s really what it is in a nutshell. The bottom line, the whole reason that shepherd exists is because debt is slavery. Um, it took me a lot of years to come into that knowledge in my gut, in my heart, in my soul, to really know that that is a truth. It’s not a, it’s not an opinion, it is a truth. And it’s designed that way unfortunately. So once you see what the problem is, is that you realize that you can get out of it, you can radically change your life because we’re talking about not having a car payment on having plastic debt payments, not having any payments at all as you choose. Then you can take that money and you can save it, you can invest it, you can give it to your kids, you can give it to charity, you can help friends, family, you can do whatever it is that you want with it.

Greg Whitaker: 26:06

But in the meantime, the bank and the credit card company, they are not evil people. They’re people just like Casey and I, they have families to feed. They love their children, they love their pets. They’re going to do everything they can to get a little bit of your paycheck every month. And I called her business partner. So just fire everybody. Fire Your Business partners and just so are there any resources on your site, like you were talking about the sheet. That sheet sounds pretty interesting. I might actually try to find one of those. Do you have those available on your site? I’ve actually got some resources up there. I don’t know if the, excuse me at that rapid dental elimination worksheet is actually on there. Um, but you can hit me up if you want to try to sell you anything. Just send me an email with my contact information is there and if you’re interested in that I can send that to you.

Greg Whitaker: 26:54

Obviously you asked me for it. Then it’s just an email. It’s not a big deal. And you just prioritize them and they call it the snowball a, if you like Dave Ramsey, I’ll give him a plug type in his name. Dave Ramsey debt snowball where you can find it or just typing in a debt elimination worksheet is really easy to find, but if it just hit me up. Yeah, it’s really simple. And when you see it and you plug it in, you’re like, what does credit card had been paying on this thing since my kids were in diapers and now I’m 50 and you’re telling me I can make this thing go away in two and a half, two years? Yes you can.

Casey Stubbs: 27:25

A lot of people might be in trouble, they might be listening to your show and they still might need a little more help. You had mentioned earlier that you working with some people, so if I’m listening and I feel like, wow, I’m really stuck, I need some more help. Is there another level that I could go with you to get additional help to help me really get out of this hole?

Greg Whitaker: 27:47

Basically that’s what we call the coaching process. You get in touch with me, um, and we just have a little email exchange back and forth or a text exchange, just kind of feel each other out. You can sort of get to know me, you can call me if you want to, but the basic process is you get in touch with me. Um, we spent 30 minutes on the telephone or Skype for no cost to you at all. Um, and we sort of feel each other out. I find out what’s going on with you. I’m like a doctor. I need to know where does it hurt. We talk about these things. And the beginning is the work. There’s a worksheet that I send to you where you just list all your debts, all your money that you make all your bills, everything so I can see the full picture and I just do an analysis on that before we have our first session and if you do decide to do the coaching, it’s based on your income, so if you make $10,000 a year, the fee that you pay me, this very small.

Greg Whitaker: 28:35

If you make $200,000 a year, it’s a little bit bigger so it’s on a sliding scale so I can meet people where they are if they’re in a really bad spot or if they’re doing well, but they just want to polish things up a little bit, but that’s basically how that works in. In a nutshell. It’s really simple. We do 30 minutes for no cost to you. You decided to do coaching and we move forward there. It’s a one-time flat fee and you get me for. We do like a full 30 days. We get you going with your rapid dental elimination. Thirty days later we check up with you to see where you’re at. We fine tune and then you’ve got access to me for six months, not a penny more out of your pocket. You can call me, skype me, just give me a couple of days notice and that’s what people typically do is they get going and then they just touch base with me over time and then they hit a milestone and then they call me. What do I do? They start asking questions about buying a new car versus a used car. So I’m always available and even if after the six months, um, that ends, you’ve always got access to me. I talk to people that I dealt with three years ago.

Casey Stubbs: 29:36

I think it’s really important to have someone that you can talk to through some of these decisions. A lot of people don’t want to reach out for help, maybe because they’re embarrassed or for whatever reason they think that they know everything or someone can’t help them. But sometimes when you’re doing looking at your finances, you’re going to have to make some tough decisions. You look at your sheet and there’s just not enough money and there’s too many bills, too many debts, and you really look at it and there’s like, I don’t know how to get out of this hole, and it seems like talking to someone can be like, OK, you’re gonna have to cut this. You’re going to have to cut that. Even though it’s a painful discussion, sometimes you have to cut away and do some painful things to make forward progress.

Greg Whitaker: 30:20

It’s awesome. You brought that up. The. There’s the worksheet that I send out where you list all your debts, all your income and all your bills. I’ve had people telling me through the years, that’s the most powerful thing you asked me to do, Greg, and that’s before we even get started and before you even pay me for my time to help you get where you need to go. That worksheet. It changed my life and it changes other people’s last if they want it to because all they did was look at the mess and face it and go, wow, this is worse than I thought it was, or it’s not as bad as I thought it was right there laughing. Sometimes they cry and that’s OK. I’m not a counselor. You’re going to go through certain emotions and thinking and things like that and if you have a partner, if you’re married, we’re on that call. All three of us, we don’t do heavy first and then why for boyfriend every call, everybody’s in on that call, so we’re all on the same page and we just started rocking and you just. It’s so empowering. It’s almost like I want to wear the vandalize people to get out of debt. I don’t preach against it. I did in the beginning. Then I had to throw it down and realize not everybody’s going to want to completely get out of debt.

Casey Stubbs: 31:22

Yeah, yeah. That. That is true. I’m in your camp. I think it’s gives freedom because of the slavery aspect, you know, the borrower is the slave to the lender and I want to be free, but not everybody wants to be free and that’s OK. Yeah. Yeah, exactly. You can’t force your values on somebody else took all over the map. Right. That’s a good lesson. Well, Greg, I really appreciate you for coming on the show. It’s been a great talk. Lot of good nuggets of financial wisdom that you shared with us, so thank you.

Greg Whitaker: 32:01

Absolutely. I appreciate it. To there. There’s a lot of people out there hurting and they really don’t think that they can fix the problem. I have yet to meet someone who I would recommend bankruptcy to, which I would never do. I would refer them to someone that I know that’s far more involved in that, but I haven’t had to do that yet. Most people, there is enough room in there, meaning extra money. You have to shift what you’re spending it on to get the process started. It might not take you five to seven, it might take you 10, but that’s for is beach 30. If you’re on a 30-year note, it really does.

Casey Stubbs: 32:36

So if you’re listening to this and you think there’s no hope, Greg is telling you, give him a call. There could be hope. There’s probably hope. Absolutely. All of the information, uh, for Greg is going to be posted below this, uh, this video or if you’re listening to it on audio, it’s going to be linked in the blog post, a debtshepherd.com. Uh, thank you again, Greg, It’s been a pleasure.

Greg Whitaker: 32:36

Thank you Casey.

Outro: 33:09

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