(Rebekah and Dan Allen)
(Rebekah Allen presenting on the 'Rule of 72')
This past Monday, January 29th, we were blessed with the opportunity to host and learn from Dan and Rebekah Allen on the topic of Financial Stewardship. Dan and Rebekah are Eastern University Alumni, who found themselves in quite a predicament after college. They were in huge financial debt with no clue how to approach it. No matter how many extra hours of work they took on they were still living paycheck to paycheck, this is when they decided it was time to seek help from a financial coach. After turning their financial situation around, they themselves decided to become financial coaches as well.
As college students, most of us are accumulating debt in some shape or form and a lot of us have no idea what to do about it. It was relieving to hear hope from former students who were in the same position and to take practical steps to become financially stable. Dan and Rebekah based their discussion on a book called How Money Works. They went further in depth about how to attack financial debt through debt stacking, basic funds applicable to everyone, life insurance policies, how to properly invest your money, and the importance of time. They discussed ways in which we can take action in the present in order to pay off our expenses in the long run, such as creating a budget and paying yourself after every paycheck. They stressed that saving money at an early age is crucial because time equals money and the longer money has to grow with a good rate of return the more money you will have in the future.
We were extremely grateful to have this power couple share their knowledge with us. Rarely, has anyone taken the time to talk to us about what is to come in the near future financially and how to overcome the financial battle.
(Students listening attentively to Dan and Rebekah Allen)