Yesterday I wrote about three 30-day challenges that can help you start forming new habits, and I recently learned about one more.
MyMoneyCircles is offering a four-week personal finance boot camp, starting on January 9. The site aims to combine expert money-management advice with social circles to make success quick and easy.
Leading the boot camp is The Money Coach, nationally known personal finance expert and New York Times best-selling author Lynnette Khalfani-Cox, who teaches people nationwide how to achieve their financial dreams.
Is this right for you?
According to the website, the goal is for participants in MyMoneyCircles to kick their financial security up a notch, whether your goal is to save more money, reduce debt, or improve some other specific area of your finances.
The MyMoneyCircles community includes the following:
- Moms and dads striving to save for their kids’ college education
- Couples planning for a wedding or trying to buy a home
- Individuals needing to improve their credit rating
- People who want to have a comfortable retirement
- Employees and entrepreneurs seeking more financial peace of mind
MyMoneyCircles is for “anyone who is serious about making positive financial changes.”
What are the benefits?
The boot camp offers participants the following:
- A proven, step-by-step program
- Tactical advice to help you meet your financial goals
- Practical ideas and community tips that make succeeding easier
- An action-oriented game plan to get fast results
- The ongoing support you need to achieve financial stability
The goal is to give you “more of what you want (more money, greater savings, and increased financial well-being) and less of what you don’t want (less debt, financial stress, anxiety, and worry).”
How does it work?
Each weeklong, online boot camp focuses on a specific financial topic addressing common economic challenges. The first four boot camp guides cover the following topics:
- Saving money
- Managing credit and debt wisely
- Protecting your family and assets
- Planning for the future
In addition, all boot camps involve the following core activities:
- Assess: You’ll start each boot camp by taking a 10-question quiz that will tell you about your personal financial condition in that week’s topic.
- Learn: You’ll learn the nuts and bolts about a topic through daily e-mails, online advice and articles, and Q&A with The Money Coach.
- Act: You’ll be challenged to step up your game: no procrastination, no excuses.
- Share: A key element of MyMoneyCircles is that you can anonymously share your new wisdom and experiences with others — offering as much or as little detail as you’d like. You can even join predefined Circles, such as the “Save more for my kids’ college Circle” or the “Reduce credit card debt Circle” to get to know like-minded people who share your specific goals.
- Advance: This segment of the boot camp provides you with additional knowledge, resources, or advice about a financial topic, allowing you to continue learning at your own pace, whenever it’s convenient for you.
Registration is free, but the boot camp kicks off on January 9, so head over to MyMoneyCircles if you’re looking for a financial challenge!
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great thanks for the info..
i´ll head over there now and see whats this about..
cheers
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Couldn’t you just do this all for free and for much less hassle simply by reading this blog and other PF blogs and then infusing a little discipline into your life?
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Yes, but it is true that some people do better when others walk them through it. Like reading a “how-to” book versus taking a class, it depends on how each person best accepts information.
*retired teacher steps off soapbox and proceeds to do just what My University Money suggests*
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Some people need accountability too — so I think the social aspect combined with the coaching would be a big help. (I remember reading in Willpower that making yourself accountable to someone (friends, family, church, etc) can help boost willpower.)
Unfortunately, I don’t think I could contribute much to the bootcamp as I’m not in the U.S. Some the areas I need to work on (insurance and what to do with retirement savings) are things I need to discuss with someone closer to home.
Good luck to everyone who wants to try it!
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This is sort of off topic, but I really can’t see any reason to save specifically for our children’s college educations. The more we have saved, the worse their financial aid packages will be. Truth be told, there’s very little chance our kids will qualify for financial aid anyway. However, last year and this year we maxed out our Roths figuring it was really earmarked for college tuition. But if our own circumstances significantly change for the worse then we can still use the money for ourselves without signficantly affecting their chances of financial aid.
I’d love to see a post that hashes all of this out.
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Up in Canada we have a really cool program called RESP (Registered Education Savings Plan) that gives some really solid incentives. I’m a huge fan, and it’s something the US might consider.
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