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. […]
Consumer debt is a killer when it comes to savings goals and overall financial well being! Whether we’re saving for emergency funds or investing funds or whatever fund we’re trying to set goals for, consumer debt will hold us down and must be greatly reduced if not completely eliminated in order to achieve financial freedom. […]
Your emergency fund is an important part of your savings. There are different ways to go about deciding how much to contribute to your emergency fund depending on what works for you. For example, you could start off with a set amount of at least $10 to $20 a month and make a point to […]
If you’ve ever heard the term pay yourself first, your emergency fund is where you should start. Emergency funds should be readily accessible, but not so readily accessible that you will be tempted to make withdrawals for every day spending. Online banks could be a good place to stash away that money for those rainy […]
Too many people today don’t have an emergency fund or a savings account. Your emergency fund is the safety net in the event you get sick, loose your job, have unexpected car repairs, medical expense, etc. General guidelines you’ll hear from financial planners as to how much you should sock away into your emergency funds […]
There are a couple of ways to go about paying yourself first depending on your situation and personality. If you have the discipline of being able to manage your money without being tempted to spend before you save or spend what you save, then a more manual approach to paying yourself first can work. It’s […]