Commit. Plan. Take action.
What were we going to do?
It hadn’t even been two months since my last day of work, and we saw that our savings we had built up to prepare for me to stay home was starting to disappear.
I have a very special video to share with you! And I am offering my first giveaway on the blog!
I’ll tell you how to participate in the giveaway in a moment, but first, let me tell you about the video.
I’ll be the first one to admit that when I think about having all of my debt paid off I start to think about the things I’ll be able to do, things I’ll be able to buy, etc. If you’re thinking the same way, stop! You won’t ever be able to stay debt-free if you’re constantly thinking about what you’ll spend your next bit of money on. So, how do you stay debt-free?
As a part of becoming debt free you probably had to create a budget. The best way to create a budget after becoming debt-free is to set a zero-sum budget (where all your income is spent one way or another at the end of the month). The money not being spent will go into savings (or debt payments if you still have them). Once you’ve set a budget, don’t waiver from it. That will only open a window for debt to get in.
Once you’ve created a budget, automate the rest. Set your bills to automatically draft from your account so that you won’t encounter late fees or credit score drops. You can also have your savings withdrawn from your paycheck instantly so that even saving money can be effortless. If you have to think about your finances less you’ll be less likely to create more debt.
This is a huge point on the list of things you need to do to stay debt-free. Most people wrack up debt by living outside their means, buying things they cannot afford. If you continue to do this once you’ve become debt-free you won’t remain without debt for very long.
Holding yourself accountable is another big deal. You may not realize it but if you have a lackadaisical approach to finance your finances may suffer. If you find yourself having trouble holding yourself accountable for financial decisions, chat with a friend you can trust and have them remind you have why you want to stay debt-free.
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Another great way to stay out of debt is to cut out temptation. For example, if you have multiple credit cards consider cutting the ones you don’t need/don’t use. This will prohibit you from being able to use them for an unnecessary purchase.
If you’re searching for more support on your debt-free journey, join a debt-free community. The Saving Advice forums is a great place on the internet where many people collaborate on various personal finance topics, including being debt-free. There are a number of other great debt-free communities on the web as well.
Those trying to stay debt-free have likely already paid off a tremendous amount of debt. Keep a reminder of the absolute agony that was paying off your debt. To do this, some people have framed loan payments, loan amounts, statements, etc. You can also simply keep a reminder somewhere you look often (like a desk drawer).
Lastly, if you’ve paid off a lot of debt and are living a debt-free lifestyle you deserve to celebrate sometimes. To maintain a debt-free lifestyle you need to allow yourself some wiggle room from time to time, so remember to enjoy yourself! A bit of comparison shopping or finding a good deal will also make you feel great and reinforce the savings process.
Are you maintaining a debt-free lifestyle? What’s your secret?
Can you imagine what it would be like to pay off $500,000 of debt?
Well, our guest today did just that!
What would you do if an enormous financial dilemma landed at your feet right now? Would you know what to do? A financial crisis can happen at any time, and you’d better be prepared to cope. In the interest of standing up to money disasters with grace, we are pleased to present a few tricks and tips about how to meet your biggest financial challenges.
Biggest money hurdles families face
A recent Gallup report explains that a lack of money is the biggest challenge most families face. These days, and in these uncertain financial times, many American families live beyond their means and carry the debt load to prove it. Granted, there is no instant-fix solution to money woes, but you have to start somewhere, advise money experts at SheKnows magazine.
Build a budget and do not deviate from it. Simplify your lifestyle and learn to do well with less. Pay down debt as soon as you can, mind your monthly bills, and don’t add to your debt load. If bill collectors are dunning you, visit this page to identify their number.
Your new budget applies, whether you are the ‘spender’ or the saver in the family. Money differences can cause trouble, but they don’t have to if you agree to stick to a budget that is beneficial to the whole family. Meeting in the middle and setting realistic expectations is a good way to avoid arguments that add stress to an already dodgy situation.
Avoid overspending
Overspending is another way financial disaster can wreak havoc on your serenity. In a recessive economy, spending too much is asking for trouble, especially if your income is sketchy. Have a heart-to-heart talk with your partner, if you have one, and identify your monthly must-haves vs. luxuries that can wait. Writing this information on paper may make it easier to maintain your new budget.
Parents, you want your kids to avoid the financial dilemmas that plague you, right? Help them be better money managers when you give them a checking account in high school. Open the account with limited funds, and your child will learn the penalties for making overdrafts. This simple lesson in overspending may spare your kid a lot of financial woes when they are older, advises Bank Rate.
What about grown kids who move back home? Many American families face this financial dilemma today. So-called ‘boomerang’ kids may return to the family nest, but the rules are different now. Adult kids probably shouldn’t expect a free ride, especially if they are able to earn an income and contribute to household expenses. By paying for their own rent, groceries, internet service, car insurance, and other monthly bills, adult kids have a great chance to actually be ‘adult’.
In uncertain financial times, sticking to a budget, living within your means, paying down debt, and supporting adult children can be a challenge. Don’t let money dilemmas daunt you. Face money smartly, and you up your odds of living happily.
When it comes to our debt freedom goals we are pretty far off from where we’d thought we would be a few years ago. Of course, life has thrown some unexpected curve balls our way. We moved to Atlanta for a job that didn’t quite work out and then the COVID-19 pandemic rocked the entire world. Through it all, we have been able to maintain at least the minimum payments on everything and have avoided taking on new debts altogether. So, slow progress is better than no progress, right?
If you read last month’s debt freedom update, not much has changed. We’ve made a payment on each of our accounts to stay current but there are not any huge changes. In June, we will make a little bit more money, but most of that will be stashed away in savings as we prepare for our firstborn child to arrive at the end of the summer. There are only 10 short weeks before she makes her appearance!
While the slow progress can be a bummer at times when we consider where we wanted to be by now, there are times we sit back and think to ourselves, “Wow, look how far we’ve come.” Just a little over four years ago we were living in a motel. We were trying to pay off rental debts to get into an apartment. Things looked pretty bleak and we were taking on new debt just to improve our lives.
Flash forward to now when the only significant debt we hold is our car and my student loans. We’ve paid off accounts in full, moved four times (once four hours away to a different state). Debt or no debt, we love the lives we are beginning to create for ourselves.
Sometimes this slow progress can be discouraging. However, slow progress is better than making no progress at all. Or worse, we could be going backward. Thankfully, we are trucking forward. Here are a few reasons even slow progress is a reason to pat yourself on the back.
Readers, how do you monitor your debt freedom progress? Share your methods in the comments!
Do you have a budget but feel like you’re not making ANY progress toward your financial goals?
Are you trying to pay off debt or save up for a large purchase, but your progress is painfully slow?
Or worse, you feel like you take one step forward and then two steps back?
Illness and injury can happen at any time. Every person gets sick occasionally. There is also a good chance that you will need surgery at some point in your life. If this is the case, it is vitally important that you have a good insurance company that will cover the cost of your surgical procedure, treatment and medication. These things can be very expensive. The cost of medical care could leave you financially drained if you do not have health insurance to help cover most of the cost. You probably see ads for health insurance companies every time you turn on the TV. How do you know which one of these companies is better than the rest? There are some specific things that you can look for. Here are some useful tips that will assist you in selecting a health insurance provider that is right for you.
1. What will the monthly premiums be for the health insurance plan that you are interested in?
The reason that you are getting health insurance is to prevent you from going broke if you get sick or injured. Therefore, it is very important that you choose a provider that will not charge you premiums that you cannot afford. The good news is that there is a ton of competition in the health insurance industry. This is very helpful to all people who are in need of a health insurance provider. These companies will do practically anything to get new customers into the fold. This means that you can have them competing against each other for your business. See if they are willing to negotiate the cost of the insurance plan. Tell the providers what their competition is charging. This might cause the provider to give you a better deal on your coverage than they otherwise would. You should also inquire about any special deals that the provider is offering to attract new customers. Do not simply accept the first price they give you.
2. Consult with some of the people in your life and learn about the companies that provide their health insurance coverage.
You should speak to people you trust before you make any big decisions where your health insurance is concerned. You will certainly know many people who have health insurance. Therefore, you should interview several of these people about their coverage. Find out as much as you can in an effort to determine if any of their providers are right for your particular healthcare needs. You should find out what is included in their plan. How much do they pay each month? How much does the insurance cover for doctor visits, medication and surgical procedures? You can also ask yourself “Is there an Accident attorney near me?”. You can then take everything these people tell you into consideration.
3. Does the health insurance company have many options to choose from?
The best companies in the health insurance field will be able to customize plans to cover the needs of their customers. Health Insurance Innovations is an example of a company that can do this. The customers of Health Insurance Innovations have a wide variety of coverage options that are available to them. This means that it is very easy to find specific types of coverage that can be selected and put into your policy.
When it’s time to buy a diamond for yourself, your significant other, or as a gift for someone you really care about, you obviously want to buy it from one of the most trusted sources you can find. Otherwise you may end up buying a fake diamond and no one obviously wants to do that, right?
James Allen originally started his website in 1998. In fact, you can look at him as one of the original e-commerce pioneers in the diamond space. He’s one of the first to put a website online to begin selling diamonds to the public all across the world. And his reputation in this industry is amazing, so you should feel confident every time you purchase a diamond from the site.
Why Is James Allen.com Better Than Other Diamond Selling Websites?
This website really stands apart from the competition because they’ve gone above and beyond to use video technology to make it easier than ever to buy diamonds online. With high definition video, magnified photographs, and their 3-D engagement ring setting visualizer, it’s absolutely simple to purchase a diamond online and know that you’re getting a high quality, top level diamond that you can afford from a trusted source.
In fact, there are so many amazing features to this website that we’ll have a hard time covering them all. But we’re going to look at the best features in more detail below right now.
Real Photos and Videos of Actual Diamonds in Their Listings
The main reason we like JamesAllen.com is their authenticity and transparency in all that they do. In fact, so many people are enamored by this website because they have a wide range of diamonds and a number of different settings to offer, which would seem to make it difficult to create so many videos and images, yet they share them for each and every one of the diamonds they have for sale.
They do not use stock images. They are known for photographing every single diamond that they have for sale. They are known for also capturing them in high definition video. So you can examine the diamond that you are actually going to purchase online, through high definition video, without fear of eventually getting shipped a different diamond.
This makes the online diamond buying process easy, exciting, and it lets each customer know exactly what they’re getting. You can’t go wrong with a setup like this.
Customizing Jewelry on JamesAllen.com
Many people appreciate the value of customized jewelry, and rightfully so. You’re in luck because the James Allen jewelry customizer on their website is absolutely amazing.
By using this customizer, you can pick the specific details of the jewelry if you do not like the technical recommendations. Instead of choosing a recommendation by the jeweler – which isn’t all that bad – you can customize your piece specifically for you or the person you care about the most. This is an excellent option that most people truly appreciate.
Conclusion
Clearly, JamesAllen.com understands diamonds, understands their customers, and has put together a website completely beneficial to everyone visiting to purchase a diamond or jewelry.
1. The latest contract for a professional athlete
2. Your current credit card balance
3. America’s collective student loan debt
While the first choice sounds strangely plausible, and some days you may feel like the second choice is correct, $1.52 trillion represents America’s total outstanding student loan debt as of March 2018 – according to the new consumer credit report from the New York Federal Reserve.
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