Today we’d like to introduce you to Joey Ruffalo.
Hi Joey, thanks for sharing your story with us. To start, maybe you can tell our readers some of your backstories.
The financial landscape of 2007-09 hit us hard in our previous business. We accumulated a lot of debt trying to maintain a lifestyle and income level. We ended up over $370,000 in debt. Going through the process of figuring out a plan of attack as well as how to survive mentally, emotionally, spiritually, and physically was a daunting one as we went through it alone. It strained relationships and caused a lot of health issues. I was scared. I couldn’t sleep.
Every noise at night woke me up. Every sound of every truck driving by sent me into a panic that my truck was being repossessed. I flipped through the radio one day and heard Dave Ramsey speaking about how to handle creditors. I knew there was hope. We started following the Baby Steps and we paid off all $370,000 in about 2 and half years. When we were done, I said to my wife that I never want anyone to feel alone in this process again. I want to be there for anyone who feels that way and to walk beside them, I got serious and learned all I could about financial coaching and financial planning.
I knew from research that the CFP® (Certified Financial Planner) seemed the most well-rounded and educated. This is what I wanted. One of the requirements was to have finished your Bachelor’s degree (in any subject). When I left school in 2003 to start our previous business, I was 2 classes shy of completion. This new direction for me gave me the opportunity to finish almost 12 years later. The second part of earning the CFP® is education in the various financial planning subject areas. I was able to complete this along with a lifelong dream of attending UCLA and earning my Certificate in Personal Financial Planning.
I was next able to use some of these completed courses for my MBA in Financial Planning which I completed in 2018 from California Lutheran University. During this time, I started J.R. Financial Coaching to gain some experience helping others. I completed Dave Ramsey’s Financial Coach Master Series and became a Ramsey Preferred Coach in the process.
I love learning and in turn, guiding my clients on a path to financial independence I am continuing my education and I am currently enrolled in Liberty University’s DBA (Doctorate Business Administration)- Finance program as well as a few certification programs. I currently offer financial, business, and life coaching for my clients.
I’m sure you wouldn’t say it’s been obstacle free, but so far would you say the journey has been a fairly smooth road?
The initial struggle is the struggle I believe all businesses face when starting out, standing out, and connecting. You have a product or service that you know is valuable to the population as a whole or even just a small percentage or niche. The struggle is getting your product or service in front of them and then for them to see the value in your product or service.
You also want to have a clear and defined advertising budget that gets the most for your money. For example, are you running an online ad that covers the entire country or one that targets your hometown and surrounding areas.? Are you running an ad for the general population or one that targets your primary audience? Once you overcome your fear of niching you can get out of your own way.
Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
I am a sole proprietorship single coach set up. I specialize in debt elimination, budget building, goal planning, financial wellness, and a positive money mindset. I specialize in turning your side hustle into a full-time career. I work closely with the reselling community, those that sell on sites like eBay and Poshmark. I have an upcoming book, An eBay Seller’s Guide to Financial Planning where I discuss the basic steps you need to take your side hustle to a full-on business covering topics such as retirement, taxes, investing, cash flow, debt, and estate planning.
What sets me apart is the fact that I have lived it. I have walked through a mess and survived. I know what you are going through. I have been $370,000 in debt and feel hopeless. I have sold on eBay and driven Uber, and delivered groceries with Instacart and Shipt. I have delivered your dinner orders with Doordash and Uber Eats. I have done it and I can show you how to do it. How to maximize your time for the most effective return on your time. I am not going to suggest something to my clients that I have not already done myself or I am not willing to do myself. This is important. What I am is a guide in my client’s story. They are the hero of the journey. I am here to help them and walk beside them. I can show them what to do but ultimately, they need to do the work to be successful. They must be willing to hear some tough truths but realize those truths are not a dead end, but a roadblock. We can go around roadblocks and find a new path. This is where the mindset change occurs.
What I am most proud of is the success my clients have had. They have paid off over $1 million dollars in debt and have increased their savings amount by over $300,000. I am also proud to be recognized as the 2020 Bay Area Parent Best of the East Bay Financial Service. This award was voted on by the community and I beat out some pretty big well established full service financial firms. I am also proud to be named to the Marquis 2021-2022 Who’s Who in America, a Marquis Top 100 Professional as well as a 2021 Marquis Top Business.
Is there a quality that you most attribute to your success?
Number 1 is listening skills. You need to be a good listener to hear all that is being said. Remember it’s the client’s story, you need to understand it in order to provide guidance.
Number 2 is compassion and empathy. Understanding the why behind their situation will help you and they carve out a new path towards financial freedom.
Number 3 is a heart of a teacher. Being able to explain what you talking about in a way that the client can comprehend and implement is vital.
Contact Info:
- Website: www.jrfinancialcoaching.com
- Instagram: http://instagam.com/jrfinancialcoach
- Facebook: https://www.facebook.com/jrfinancialcoaching
- Twitter: https://twitter.com/jrfincoach
- Youtube: https://www.youtube.com/channel/UCJtCyoEvLKWXVrouw9E1_yQ
- Other: http://jrfinancialcoach.ctcin.bio/
