Personal Finance Blog
So how exactly does one go about eliminating debt? it can be a daunting task. Especially if you’re in a situation like I was– looking up at over $50,000 of debt. But it is possible. You can do it.
Here are seven things you can do that will help you dump your debt.
I wanted to share some common mistakes people make with their personal finances. I am not picking on anyone, believe me, I have made most of these mistakes myself. And if you find yourself in a situation where you are being affected by these money mistakes, I’m hopeful you can look to my experiences for a little inspiration and hope. I’ve been there myself– I am a recovering money mistake-maker.
First of all, if you haven’t done your taxes yet, this is a good reminder to get on it. You still have time. Not filing your taxes is not something you want to mess around with.
So you’ve filed your taxes and you’re getting a refund– What are you going to do with it? What should you do with it?
I cannot emphasize enough the importance of planning out your monthly finances before the month begins. You have to have a plan. You have to know how much money is coming in, how much is going out, and where where it is going– this is the purpose of the monthly family budget meeting.
Yesterday was the biggest day on my blog in the history of my blog. Thanks to my friend who threw a link to one of my old posts up on a few Facebook pages.
The link was to a video I posted a couple years back of a SNL skit called, “Don’t Buy Stuff You Cannot Afford,” with Steve Martin and Amy Poehler. It got nearly 1,400 hits in less than a day– which in my little blog world is pretty viral.
You can check out the video here.
Getting on a budget and sticking to it is not easy. In most cases it takes several months and lots of trial and error in order to make it work. But getting it to work is key to your personal financial success. I cannot emphasize the budget enough.
Deciding to get serious about budgeting is one thing, getting the budget to work is another– it can be a real challenge. One way to make the budget work is to use an envelope system.
Do you ever feel like you just don’t want to look at your bank account because you don’t want to know how much is actually there? Ever dread getting a paycheck, because you know every dollar of it will be spent the same day paying bills?
I found an article that has been floating around the twittersphere today which says that 1 in 5 young adults between the ages of 18-34 receives some kind of a regular allowance from their parents or family members.¹ This is an important topic to discuss, because if you are included in this group—either the recipient or the giver—your financial future will be impacted and your goal of financial independence will be difficult to achieve.
As a kid, did you ever use a magnifying glass to fry a grasshopper on the sidewalk during a hot, sunny day? Well, that is the power of focus. Over a broad area, the sun provides light and warmth. But when harnessed through a small lens, it can fry a bug.
If you are going to get out of debt and stay out of debt, then you better become really good at budgeting. Budgeting is essential to winning financially and the key component to an efficient personal financial plan. An effective way to help you and your household stay within the budget is utilizing the envelope […]
