Not only are there small, unsuspecting ways we get ourselves into trouble with debt that slowly and incrementally build up until we eventually find ourselves in over our head. But then we have the big dollar purchases that we have to become aware of also. Such as, that brand new motorcycle, snowmobile, boat or jet-ski […]
If our bills are greater than our income, it’s safe to say…we’re in trouble! It’s when we find ourselves in situations like this, that we’ll only keep adding to our debt whenever we spend more money than we make. The first thing we need to do is we need to get our spending under control. […]
Increasing our income doesn’t have to be a significant increase. We don’t need to get too caught up in how much we’re able to increase our income at this point, but more about using that extra income toward paying off debt or putting it toward savings or investing goals. There are so many different ways […]
The level of debt that nearly most of us have is in direct proportion to our earnings and this is precisely where our comfort levels lie – not so much debt to keep us awake every night, but enough to appreciate life and our hobbies to our maximum level of income. That’s where the majority […]
For most of us, caring for our finances is not an easy task! Easy availability of credit, high interest rates and a lack of understanding basic financial principals causing us to fall into bad money habits, which end up leaving the majority of us living deep in debt and way beyond our means. To better […]
If we stay focused on the health of our financial future by being disciplined with taking care of what we need (which includes paying off debt and not accumulating more) and being patient with our wants in the here and now, once we reach our goal of financial independence we will have the financial means […]
Let’s face it! Every time we get some extra money in our paycheck, we get the urge to spend that extra money. We get a pay raise…let’s finance a new car! We get a bonus…let’s go on vacation! If we get an extra $5 in our pockets…we find something we “want” to spend it on! […]
Living below our means is the basis of financial freedom. Once we learn to live below our means, we can stop getting into debt, begin paying off any debt we currently have and start putting money aside for saving and investing. If we’re living above our means it is going to mean more stress, more […]
Reducing and eliminating debt is no easy task, but it’s essential to your financial and even emotional and physical and health. There is nothing better than seeing debt get removed from your balance sheet. No more worrying about that debt, no more bills or calls from lenders and creditors…it’ll just be gone! Just remember, once […]
A very common and effective strategy to pay off debt is the known as the debt snowball. Picture a snowball that starts off little as it rolls down a hill, but gets bigger as it continues rolling and turns into to a snow boulder as it builds momentum! That’s how the debt snowball method works. […]