Get Out of Debt Guy Steve Rhode

Steve Rhode and Damon Day discuss the transformative power of side hustles in their podcast, "From Zero to Hero: How This Side Hustle Changed My Life." They emphasize the importance of finding the right side hustle to fit individual needs and schedules. Steve notes that while some side hustles may offer modest earnings, like online surveys, others, like freelancing and gig work, can provide more substantial income. The key is to find a balance that doesn't overwhelm one's time and to explore various options to see what works best. The duo shares survey results highlighting the potential earnings from different side hustles, ranging from $500 to over $10,000 per month, although high earners are exceptions rather than the norm.

Damon shares his personal experiences, explaining how he and Steve launched the "Penny Stupid Project" on YouTube, where they try various side hustles and report their findings. Damon talks about his success with Uber, Lyft, DoorDash, and other gig apps, which allow him to make substantial earnings part-time while still managing his primary responsibilities. He emphasizes the importance of having a proactive attitude and a willingness to adapt and learn, which are crucial traits for succeeding in side hustles. Damon also notes that different side hustles suit different people, and finding the right one involves trial and error.

Steve and Damon discuss the evolving nature of side hustles and the need to stay flexible and informed. They advise listeners to avoid expensive courses promising easy money, advocating for practical, hands-on experience and research. Steve's journey into online sales through Amazon FBA illustrates the potential for significant earnings and the required time and effort. They encourage viewers to utilize side hustles as a means of immediate financial relief and a stepping stone towards larger financial goals, such as starting a business or building an emergency fund. Through their shared experiences and practical advice, they aim to empower others to take control of their financial situations.

Ready to take control of your finances and eliminate debt for good? Dive into the latest episode of "The Get Out of Debt Guy Show" titled "Debt Busters: Proven Strategies to Obliterate Your Debt." Hosted by financial experts Steve Rhode and Damon Day, this episode is packed with actionable advice and real-world strategies to help you conquer your debt.


Expert Insights: Steve and Damon draw on their extensive experience in financial counseling to share tried-and-true methods for debt elimination.
Real-Life Examples: Learn from the success stories of individuals who have effectively used these strategies to achieve financial freedom.
Actionable Tips: The episode is filled with practical tips that you can start implementing immediately to tackle your debt.

🏆 Why This Episode is a Must-Listen

Today Damon Day and Steve Rhode talk about the fincial pressures created by inflation and the consequences to your financial health and future.

It is a surprising subject with a lot of layers.

Damon Day and Steve Rhode explore the myths and misperceptions about the charitable non-profit credit counseling industry.

We are not suggesting you should avoid credit counseling but to better understand how this works to make better decisions about what is right for you or the people you care about.

In this episode, we discussed the importance of credit scores and how individuals often make emotional decisions based on fears surrounding their credit scores. We stressed the need to step back and analyze the practical aspects of credit scores, especially when faced with significant debt. We highlighted the misconception that a good credit score reflects intelligence in managing personal finances, emphasizing that lenders primarily use credit scores for risk assessment.The conversation delved into scenarios where preserving a high credit score may not align with financial priorities, such as paying off high-interest debt. We explored the nuances of different debt management options, such as bankruptcy, debt settlement, and credit counseling, debunking common myths and biases associated with each. The speakers shared anecdotes and experiences to illustrate how individuals can navigate financial challenges effectively without solely focusing on their credit scores.Furthermore, we discussed the importance of evaluating the monetary value of a good credit score in relation to one's financial goals and current circumstances. We encouraged listeners to seek independent financial advice and consider all available options tailored to their unique situations. The speakers emphasized the need to make informed decisions free from preconceived notions and societal pressures surrounding credit scores.Ultimately, the episode served as a reminder to approach financial decisions with logical reasoning, weighing the potential benefits of actions that may affect credit scores against the immediate financial relief they could provide. By looking beyond the emotional attachment to credit scores and considering the broader financial implications, individuals can make sound financial choices that align with their priorities and long-term goals.

In this episode of our show, we delve into the crucial topic of self-care and stress management. We uncover the detrimental effects of stress on our physical and mental well-being and our finances.

Finding effective ways to cope with stress and prioritize self-care is crucial for leading a healthy and balanced life. Our conversation highlights various activities that can help alleviate stress, including exercise, meditation, and spending quality time with loved ones.

Additionally, we underscore the significance of seeking professional help and acknowledge the correlation between self-care and making sound financial decisions.

Ultimately, our discussion culminates with a powerful reminder for listeners to prioritize their overall well-being by actively managing stress.

You can contact Damon at https://damonday.com

Link to CFPB story we talk about: https://getoutofdebt.org/171657/strategic-financial-solutions-and-ryan-sasson-stumble-and-get-pounded#more-171657