Have you ever heard of the term, “delayed gratification“? The term may sound a bit intimidating at first, but it is truly not a difficult phrase to understand. Simply put, it basically means that you avoid splurging today so that you can reap an even larger reward in the future.
The Marshmallow Test
Back in the late 1950′s, children (ages 4 to 6) were tested to see which of them could delay their gratification. Here is how the test went:
One child entered a closed room with a table and no other distractions. The adult that . . . → Read More: What is Delayed Gratification and How Important Is It?
Do you carry a credit card balance?
I know, I know — if you’ve been reading financial blogs for a while, it might be tough to admit that you carry a balance on your MasterCard. But if you’re in that situation, it’s important to face the cold, hard truth.
(And check out the success stories that come from people who have paid off their balances. They’re incredibly inspiring.)
So — for the benefit and inspiration of anyone who might be carrying credit card debt — I’ve compiled a list of eight things that you can look forward to . . . → Read More: 8 Things You Can Do Once Your Credit Cards Are Paid Off
Colleges are ripping us all off. Tuition prices keep going up and our society keeps pushing kids into colleges around the world, because it is suddenly necessary for everyone to have a college degree. Personally, I think this is crap, especially since many of the jobs out there don’t really need someone that has been college educated. I know one young lady that wants to be a secretary. Instead of some quick on-the-job training, she is being pushed into a degree program that is going to cost her $50,000! Paying $50k for a $30,000/year job doesn’t make a . . . → Read More: 4 Huge Benefits of Graduating From College With No Debt
Are you seriously thinking about getting out of debt? Have you ever wondered if selling your car is a good idea to accelerate your debt payoff? This is a question that I have received a lot lately, so let’s dive in!
Two Reasons for Selling the Car
When you break it down, there are really two scenarios when you consider selling your car. For some of you, your car is a pretty good chunk of your debt, and if you were able to sell it, then your large debt amount would be reduced considerably. For the rest of . . . → Read More: Should You Sell Your Car to Get Out of Debt?
Being in debt … well, it kinda stinks. Actually, it really stinks. Big-time. I’m not talking about a reasonable mortgage debt, or a $200 monthly car payment. I’m talking about high-interest, huge-balance, keeps-you-awake-at-night levels of debt. The scary kind of debt. The kind you should get rid of as quickly as possible.
We often hear tips, tactics or other pieces of advice about how to climb out of debt. But let’s take a step back, for a moment, to discuss why you should want to get rid of your debt in the first place. Here are 10 reasons why being in debt . . . → Read More: 10 Reasons Why Being in Debt Stinks
Most of the time I’m writing on this blog to help people get out of debt and to save and invest money for their future. But, for those that stumble onto my site from another random site, perhaps they don’t even care that they have debt. After all, it’s incredibly normal to have debt today. In fact, I have realized over the years that I am the weird one that is actively trying to get rid of all my debt, including my house mortgage (by next year). So yeah, I guess I’m a little crazy, but why do . . . → Read More: Why Should You Care About Getting Out of Debt?
I originally bought this truck to turn around and sell it to make a profit (in an effort to pay my home mortgage down to $40k by the end of this year). I have already had my ups and downs in fixing it up, but selling it hasn’t been the smoothest process so far either. After about a month of fixing up various things, my total dollar amount invested in this truck (including the initial purchase) was $5,300. I felt pretty good about that since the typical truck that’s in this condition costs about $7,000. Even if I only . . . → Read More: My Truck Sale Has Been Interesting to Say the Least
I was in your shoes. I was in debt to a tune of $20,000, twice, and both times I have gotten out of it and I am now in a position to make money with my money, just like the rich do. I desperately want you to do the same.
The Seven Steps to Becoming Wealthy
When I was 24 years old, I had $20,000 in student loans to pay off. Cash flow was tight and it didn’t seem like I had much hope of paying it off quickly, and then I received Dave Ramsey’s DVD series. To . . . → Read More: How to Get Out of Debt and Grow Rich