I cannot stress how important it is to get yourself– or your family– on a budget and make a plan. The budget is a very powerful tool and the key to getting you and your family out of debt or avoiding debt all together. Budgeting isn’t easy, but you have to do it if you want to win.
The first step, and the most important factor in debt elimination, is a firm commitment to reject debt… This change in attitude is not subtle or gradual but rather resembles the flip of a switch—it’s a resolute determination to make a clean break from the culturally accepted addiction to debt. –Luke V. Erickson […]
“If there is any one thing that will bring peace and contentment into the human heart, and into the family, it is to live within our means. –Heber J. Grant We’ve all heard the clichéd phrase “money can’t buy happiness.” Though having money does not lead directly to happiness, being in control of our finances […]
What does the Church of Jesus Christ of Latter-Day Saints teach its members about debt? I started my debt-free conversion in January of 2010. I describe this moment as a type of spiritual awakening—an ah-ha moment if you will. I was looking for a solution to my financial incompetence and I found it. It […]
In a recent survey, a simple question was asked, “If you were to face a $2,000 unexpected expense in the next month, how would you get the funds you need?” Alarmingly, of those polled, nearly 50% responded that it would be unlikely that they could secure the funds. This study suggests that half of all […]
The Emergency Fund A major component to winning financially is having an emergency financial reserve available at all times. And NO, a credit card or home equity line of credit or a quick trip to the local pay-day lender is not considered a good plan for a financial reserve. Instead, these things will only perpetuate […]
I’ve mentioned in several of my posts the importance of getting on a budget and making a plan. The budget is a very powerful tool and the KEY to winning financially and getting you and your family out of debt.
Not only should we teach men to get out of debt but we should teach them likewise to stay out of debt. -Harold B. Lee Possibly the most difficult part about becoming debt-free is finding the desire to do it. It is a lifestyle– meaning you’re going to have to make some very difficult […]