5 Ways to Save and Get Out of Debt

ways to save money and get out of debt

Debt can make it impossible to live a normal and happy life. When you’re constantly worried about making payments and stressing about how you’re going to get out of debt, it’s hard to stay positive. Sadly, we live in a culture of credit, and most people are way too willing to make purchases that they can’t afford to pay off quickly. This leads to ever-increasing amounts of debt that can quickly become a nightmare situation. So why not think of ways to save and get out of debt?!

5 Ways to Save and Get Out of Debt

By understanding how to start saving money and committing yourself to paying off your debt, you can achieve financially freedom and stability. While it won’t happen overnight, if you stick with the plan, you can see a drastic reduction in your debt.

Here are 5 great ways to save and get out of . . . → Read More: 5 Ways to Save and Get Out of Debt

How to Prosper Financially WITHOUT a Budget

prosper financially without a budget

Budgeting…blagghhh. What a bore. What a hassle. And what a restrictive thing to put on yourself and your family. For some, budgets can actually be freeing – enabling an extreme saver to plan and spend money without feeling guilty. For the rest of us though, budgeting is just a measure of control over a spouse or an annoyance that’s always there to make you feel terrible when you accidentally overspend. Liz and I have decided NOT to meet up each month to talk about the budget. Instead, we’ve actually devised a way to prosper financially WITHOUT a budget.

How to Prosper Financially WITHOUT a Budget

It all started about two years ago. My wife Liz was 7.5 months pregnant with our firstborn, and we decided to go on one last hoorah before becoming shackled down by kids for the next 20+ years of our lives.

Our romantic getaway? Renting a . . . → Read More: How to Prosper Financially WITHOUT a Budget

Is An Emergency Fund or Sinking Funds Better For Your Finances?

emergency fund or sinking funds

Around this time of year, you might start seeing social media posts and articles from your favorite personal finance blogs that scream “Christmas isn’t an emergency, start saving now!”. While Christmas isn’t an emergency, and you should save for it, that begs the question..is it even worth it to have an emergency fund anymore? Or is the new wave of sinking funds a better choice? If you’re trying to choose between an emergency fund or sinking funds, this article is tailor made for you.

Is An Emergency Fund or Sinking Funds Better For Your Finances?

This has been written by our talented staff writer, Kimberly Studdard.

First of all, what’s the difference? And then which one is better for your situation? Let’s dig in!

An Emergency Fund

When choosing between an emergency fund or sinking funds, it’s important to know the differences between them. An emergency fund is just as . . . → Read More: Is An Emergency Fund or Sinking Funds Better For Your Finances?

How to Bounce Back From an Unexpected Emergency

bounce back from an emergency

Life can be rough. Whether we like it or not, bad things will happen. It’s inevitable.

People get sick Our cars break down Our kids get injured

Far too often, people are impacted by an unfortunate event, which drives them into debt. And then they do nothing… They just keep that debt around forever. This is obviously not the best plan. You’ve got to figure out how to bounce back from an unexpected emergency!

How to Bounce Back From an Unexpected Emergency

This post has been written by our talented staff writer, Kimberly Studdard.

So how do you bounce back from an unexpected emergency financially? While it may seem difficult, there are many ways you can do so.

Face The Problem

As much as you may not want to, it’s important to face the crisis you are experiencing. If you hide from it, or try to avoid it . . . → Read More: How to Bounce Back From an Unexpected Emergency

How to Have a Healthy Conversation About Money with Your Spouse

Have a healthy conversation about money

Whether you’re preparing to get married or you’re celebrating your silver wedding anniversary, money will always be a challenge in your relationship. It can be the source of hurt, but it can also be the source of enormous growth. That growth begins with one healthy conversation about money at a time.

Did you know that the number one source of conflict in the first few years of marriage isn’t in-laws, children, or religion? It’s money.

Also, the more debt brought into a marriage, the greater potential for strife. How many young couples do you know who are crazy about each other, but they’re tying the knot with six figures worth of combined student loan, credit card, and/or auto loan debt?

Perhaps that describes you? Now, you may be wondering how you’re supposed to tackle such a mountain, let alone develop healthy communication skills about finances. Here are seven nuggets of . . . → Read More: How to Have a Healthy Conversation About Money with Your Spouse

How to Set Your Kids Up for Financial Success

 

“If you give a hungry man a fish, you feed him for a day, but if you teach him how to fish, you feed him for a lifetime.“ – Lao Tzu

When I think about what is required for financial success and how I can teach that to my kids, my head starts swimming. There really isn’t very much in my control when they leave home; however, I can do a few things early that will ensure my children have the right foundation.

Why?

Because three-fourths of Americans are living paycheck to paycheck. Student loan debt is at crisis levels. Credit card debt is a staple in nearly every home.

Advertisers are going to invest as much time and resources as possible to convince my kids that they need to buy their stuff. I need to spend as much time and resources as possible to ensure they know how . . . → Read More: How to Set Your Kids Up for Financial Success

8 Steps to a Cash Christmas

Recent studies have shown that the average American will add $986 of debt to their household because of the holidays. While that may seem like a manageable amount for some, this debt is completely unnecessary. Having a cash Christmas can help keep your finances in order, keep your stress levels down, and also keep you from overspending.

This is a guest post from our regular, talented writer, Kim Studdard.

8 Steps to a Cash Christmas

These 8 steps will help you buckle down and keep you on track to have a Christmas with no debt.

Set Your Budget

If you plan on having a cash Christmas, the first thing you need to do is set a limit that you don’t want to go over. It can be $200, $500, or even $2,000. The important thing is knowing how much money you need to save, and how much money you . . . → Read More: 8 Steps to a Cash Christmas

8 Habits That Make or Break a Debt Free Journey

Moment of honesty: I created this list of habits that make or break a debt free journey pretty easily. Can you guess why?

Because it’s MY list. I’ve messed up on each one of these items at least once. ::cough:: Definitely more than once.

Over the last several years, I’ve developed some stronger habits, which ultimately led to my husband and I getting out of debt when I was 25. However, living a life of debt freedom doesn’t end with a paid off credit card. It’s a lifestyle.

In order for my husband and I to stay strong on our debt free journey (since we’re back in debt with our first mortgage), there are some habits we’ll need to keep practicing. If you’ve been down this road, then you know what I’m talking about.

This post has been written by Laura Harris, our fantastic staff writer.

8 Habits That Make . . . → Read More: 8 Habits That Make or Break a Debt Free Journey

14 Retro Date Night Ideas That Will Save You Money

I’m a huge proponent of dating your spouse long after the march down the aisle. This is especially relevant when it comes to finances due to the volatile money problems that arise between couples. If you’ve used a lack of resources as an excuse for not going on dates, I’m here to share some retro date night ideas that are designed to get you back out there and save you money.

“Retro” as defined by Merriam-Webster dictionary is: “Relating to, reviving and being the styles and especially the fashions of the past.”

So, what is a retro date night? Imagine you’re 16 again and you’re heading out for a date. What kind of budget did you have? Did your dad hand you a $20 before you left? Perhaps you saved up from your minimum wage job of flipping burgers, earning $6.25 per hour (or less – that was minimum wage . . . → Read More: 14 Retro Date Night Ideas That Will Save You Money

How to Save Money on Quality Gifts This Year

save money on quality gifts

Whether you’re preparing for Christmas, a wedding, a baby shower or your spouse’s next birthday, gift-giving happens all year long. I believe the three most practical ways to live a frugal, yet generous life are to budget, save up, and find discounts. We’ve discussed the power of budgeting before. Now let’s talk about real ways to save money on quality gifts.

7 Ways to Save Money on Quality Gifts This Year

At the time of this writing, the pumpkins are on the scene. The air is turning cool. And the infinity scarves have yet to don each and every millennial’s neck. But, if you’re like me, you have that person in your life who always makes sure you’re aware that Christmas is, in fact, still coming. He or she posts memes that say things like “100 Days Til Christmas” or “12 Sundays Left.”

I consider this passive aggressive torture. And . . . → Read More: How to Save Money on Quality Gifts This Year