Our culture today is all about making a large income and buying a bunch of stuff on credit to “enjoy life to the fullest”, but in my experience, this often leads to discontentment, stress, and a constant want for more. One would think that the higher income earners would have a ton of money socked away in the bank, ready to retire at any time, but this isn’t how it typically works is it? If one’s salary is $50,000 a year, they finance a new Chevy Malibu. If their salary bumps up to $100,000 a year, they finance . . . → Read More: How Quickly Could You Retire If You Had No Debt?
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