It’s that time of year again - kids are heading back to school. According to the National Retail Federation, families will spend around $696.70 on back to school items K-12, and $976.78 on back to college expenses. As a parent of two, I can relate to how hard-hitting this time of year is to the wallet. 

So how can you cut some of these costs? I have a few, easy-to-follow tips for you!

Paying off debt can be a grueling process. It's often the same thing, different day. You are waiting around for payday, crunching numbers so that you can pay off the most debt, being über careful with how you spend your money and working more than you're used to working. Sometimes this can wear down a person, and it certainly affects a couples' spark. 

Paying off debt is NOT an excuse to let your relationship dull. It's this time in your life where a significant others support can make or break your journey. Building a better life for both of you is an essential part of this process, but it doesn't work if you're both miserable. 

Making more money will never solve anything for you if you continue to overspend and live above your means. Just like exercising more didn't do anything for me. If you want to take control of your finances and make serious progress towards your goals, you can't just do one thing. You need to implement all the behaviors that will drive that success. 

Cash envelopes are a tool to help curb your spending. Instead of using your debit/credit card for all purchases, use cash for the areas you tend to overspend in. With cash, you feel your purchases more. It hurts to hand over the money. With cards, you blindly spend and fail to pay attention to how much you’re spending. 

It’s not a secret. I love dogs. Actually - I am obsessed with them. And I’m (obviously) not the only one around who feels this way. Millennials are taking pet ownership to a new level. With the rising cost of living, the student debt crisis, and the cost it takes to raise a child both economically and environmentally… people in their 20’s to mid 30’s are opting out of having children and opting in to raising their furry friends as family. This increase of pet-centric homes has created a booming market for pet services such as Rover.com. 

Sinking funds, according to Merriam-Webster, is defined as ‘a fund set up and accumulated by usually regular deposits for paying off the principal of a debt when it falls due.’

Let’s take Christmas as an example. 

Christmas is NOT an emergency. December 25th is the same date every year. It shouldn’t surprise you. Yet according to Market Watch, most consumers racked up over $1,000 in credit card debt over the holiday. A shocking 5% of consumers went into debt over $5,000!