What Coaches and Mentors Can Learn from The Total Money Makeover
Assuming that the mathematically optimal advice is automatically the most helpful advice to give a mentee is the specific trap The Total Money Makeover names; a strict order built for motivation and early wins often works better than the "smartest" math, because behavior change is the harder problem.
The whole book, compressed
This edition works through 4 core lessons — take them one at a time, not all at once.
What's different for your conditions
Tap whichever ones sound like you. Nothing here is sent or saved — it's just for your own noticing.
0 of 3 selected
The core lessons, applied to you
Help them build a small starter safety net before anything else
A small amount set aside specifically for emergencies, built before tackling any other financial goal, prevents a minor surprise from turning into a major setback or new debt, and a mentor can help a mentee see why this comes first.
A mentor advises a mentee to attack debt aggressively with every spare dollar, and a single unexpected expense forces new debt because no cushion existed.
Encourage a mentee to set aside a specific, modest amount as a starter emergency fund before directing other spare money toward debt or investing.
Help them pay off debt smallest balance first, prioritizing motivation over math
Paying off the smallest balance first, rather than the highest-interest one, sacrifices a small amount of mathematical efficiency for a much larger gain in visible progress and motivation, and a mentor's encouragement matters most in the early stages.
A mentor advises the mathematically optimal debt order, the mentee sees little visible progress for months, and loses motivation before making real headway.
Help a mentee list their debts smallest to largest by balance, and encourage attacking the smallest first for early, visible wins.
Help them build a full emergency fund, then invest consistently
Once debt is cleared, building a fuller emergency fund and then investing on a consistent, automatic schedule turns short-term relief into long-term security, and a mentor can help a mentee stay disciplined here too.
A mentee becomes debt-free and immediately resumes old spending habits, without redirecting that freed-up money toward savings or investing.
The moment a mentee pays off a debt, encourage them to redirect that same payment amount toward savings or investments rather than absorbing it into spending.
Help them give generously and build lasting wealth
Once debt-free with a solid financial foundation, deliberately building wealth and giving generously become the more meaningful long-term goals worth encouraging.
Addressing today's question and helping a mentee get out of debt aren't opposites — a debt-free mentee usually has more capacity and less stress to bring to everything else you're working on together.
Name one thing, honestly
Is there a mentee whose financial stress you've noticed but never actually addressed with a structured plan?
Good. Now look back at the "Try this" line under whichever lesson feels most connected to what you just wrote, and treat that as this week's actual assignment — not all 4 at once.
The practices from this edition
0 of 3 selected
Run this for seven days
The moment a mentee pays off a debt, encourage them to redirect that same payment amount toward savings or investments rather than absorbing it into spending.