On the debt free journey, it’s recommended that you abstain from purchasing unnecessary items so that you can put all of your financial power behind paying off debt. Alternatively, if you are going to buy something new, make sure that you have a budget category for it - whether that’s personal money, spending money, shopping money, or a household goods line item. If it’s a pricey product, set up a sinking fund for it. As long as it is accounted for in your budget, you can go to Target and scan ‘til your heart's content. Here are 5 items that I swear by. Their prices range from $20 to $799 and they have helped me live a better life throughout my debt free journey.
There is a growing online community of people who are - or have been - exactly where you are now. And they aren’t afraid to show you how they are climbing out of the same hole you may be finding yourself in now.
We call ourselves and the Debt Free Community, and I am here to share 3 reasons why joining this group of weirdos may be the very best thing for your progress while you embark on this journey.
Having a baby changes everything, especially your finances. If you start planning and thinking about these things before you plan to conceive or as soon as your surprise is discovered, you will put yourself in a much better position before your little miracle arrives. Learn how to prep for your incoming babe in this blog post!
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.
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.
The baby step method of paying off debt was made famous by finance guru, Dave Ramsey. In the debt free community, the baby steps are the preferred and most common method of paying off debt. It’s also how Josh and I paid off $133,000 in less than four years. In this blog post, we define what baby steps are, how to start putting the baby steps into action, and give tips and tricks to the baby steps plan.
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 isNOTan 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!
There is a growing online community of people who are - or have been - exactly where you are now. And they aren’t afraid to show you how they are climbing out of the same hole you may be finding yourself in now.We call ourselves and the Debt Free Community, and I am here to share 3 reasons why joining this group of weirdos may be the very best thing for your progress while you embark on this journey.
Having a baby changes everything, especially your finances. If you start planning and thinking about these things before you plan to conceive or as soon as your surprise is discovered, you will put yourself in a much better position before your little miracle arrives. Learn how to prep for your incoming babe in this blog post!
The baby step method of paying off debt was made famous by finance guru, Dave Ramsey. In the debt free community, the baby steps are the preferred and most common method of paying off debt. It’s also how Josh and I paid off $133,000 in less than four years. In this blog post, we define what baby steps are, how to start putting the baby steps into action, and give tips and tricks to the baby steps plan.
