As inflation and tariffs continue to dominate economic headlines, Americans are feeling the strain of high prices. But for many households, the financial stress extends beyond market forces.
Regardless, we still have bills to pay and groceries to buy. News On 6’s Dave Davis sat down with personal finance expert and podcast host Jade Warshaw of Ramsey Solutions.
Warshaw, author of Money’s Not a Math Problem, said the key to financial control is focusing on what can be managed, starting with debt.
Step 1: Reclaiming Income by Eliminating Debt
Warshaw emphasized that while Americans can’t change tariffs or inflation, they can reclaim control over their finances by eliminating debt.
“We’re giving our income away month after month to debt and payments,” she said. “But what would it look like to say, ‘OK, for a season, I’m gonna focus on paying off my debt so I can have a lot more income back in my pocket.'”
Step 2: Mastering Meal Planning
Food costs are one of the biggest threats to a household budget. Warshaw said a meal plan works like a financial blueprint for the kitchen.
“A good meal plan does for your food what a budget does for your money,” she said. “It’s taking the control back.”
She encourages families to squeeze every dollar and ingredient for maximum value, especially when grocery prices are high.
Step 3: Stick to the List
Once a meal plan is in place, it’s critical to shop with discipline.
“Having a list going in is so powerful,” Warshaw said. “If we stick to the list, then ultimately we’re going to be sticking to our budget.”
She warns that impulse purchases, whether in-store or online, are one of the biggest ways shoppers lose control of their spending.
Step 4: Create Extra Income
Warshaw and her husband paid off $460,000 in debt through budgeting and finding new income streams — a strategy she now recommends to others.
“Maybe now instead of ordering Uber Eats, you’re driving for Uber Eats,” she said. “Getting creative about how we can bring in more income — whether it’s a side hustle or a long-term job shift — is crucial.”
Step 5: Sell to Gain Momentum
Downsizing and selling unused items can also jump-start debt payoff goals.
“You can make a lot of money if you look around and look at the things you can sell,” Warshaw said. “Now is the time to do those sacrifices so you can win in the long term.”
Step 6: Start a Spending Freeze
Warshaw encourages families to implement a temporary spending freeze, focusing only on essentials — or what she calls the “four walls”: housing, transportation, utilities and food.
“There’s a lot of things on our budget that are not necessities,” she said. “That’s where the spending freeze comes in.”
Mind Over Money
At the core of her book Money’s Not a Math Problem, Warshaw argues that true financial freedom starts with changing the way people think about money.
“A lot of times our biggest barriers are our beliefs and really our emotions around money,” she said. “It’s not just about the dollars and cents, but it’s also about taking control of how we’re factoring it into our emotions and our belief system.”
Warshaw’s podcast and book are available on major streaming platforms and bookstores.
