6 Steps to Becoming a Better Money Manager
- Created on 27 May 2015
In September of 2014, I started tracking my discretionary income and doing my monthly zero based budget. Prior to that, whatever was left over after I paid my bills and debt, it just disappeared. I'd been attacking my debt since around 2006, but it just wasn't systematic.
After I did my monthly zero based budget, I applied it and stuck with it. Using the envelope system and shopping with cash for various expenses (groceries, gas, dining out, entertainment, miscellaneous, etc.) helped me to stay on track.
Before I became debt free on March 13, 2015 after repaying $180,000 in debt, there were some things I had to overcome in order to have financial peace and get through my financial struggles.
$20 Date Night Challenge - Nailed It!
- Created on 25 May 2015
I first heard the idea during her Money Smart Week presentation (available in the Master Your Money Recap) as she laid out practical tips for couples working to fix their finances and build wealth.
Often, the belt tightening associated with redirecting excess funds toward debt repayment or savings can put a crimp in socializing. It doesn't have to.
This challenge encourages us to use a little planning and a smidgen of creativity to come up with budget-friendly ways to rock an outing.
Debt Free in 24 Hours
- Created on 23 May 2015
Aja McClanahan has been a guest on the Midday Money Show sharing her family's unique approach to achieving 100% debt freedom (including a paid for home). She shared how living in the 'hood saved their finances.
Well she was back to discuss her new book, Debt Free in 24 Hours.
24 hours? I know you're wondering if this is a gimmick. What quirky program is she hawking?
Actually it's none of the above. Aja is a rather insightful debt free advocate who shares what she knows...because she's been there. Her commitment to debt freedom is real, unapologetic, and inspiring.
An Inheritance for my Children's Children
- Created on 20 May 2015
That's actually the first part of a Proverb I can remember most vividly.
"A good man leaves an inheritance for his children's children..." Proverbs 13:22
Your children's children. Have you considered the impact of developing that type of lasting inheritance?
I've spent a fair amount of time wondering what exactly is meant by "inheritance" in this context. We inherit plenty of non-financial things from our parents: a good work ethic, freckles, a slow metabolism. Some items are more interesting than others.
I'm fairly convinced that in this context - the bible is primarily referring to money. Mostly because the second part of that statement talks about a sinner's wealth being laid up for the righteous.
Be Whole: Emotionally, Spiritually, and Financially
- Created on 18 May 2015
I spent an amazing day - that I didn't even know I needed - learning to Be Made Whole. That was the title of the Women's Conference hosted by Living Streams Worship Center this weekend.
I was invited to speak and had every intention of delivering an information packed presentation on why we should pursue debt freedom. That's not a stretch - as you can imagine. I love talking about it. Love interacting with people who know they can do better. Love encouraging others to figure out how to accomplish their debt free dreams.
But...I was in for a treat.
Why Are We OK With Debt?
- Created on 14 May 2015
This was a simple question posed in a podcast episode that aired with a fascinating person, Tim Otis, who'd just paid off $103,000 in student loan debt. I came across him after watching a fabulous happy dance on YouTube.
Sometimes you just have to express yourself.
However, during our conversation and Tim posed this simple question.
"Why are we okay with debt?"
I have a few thoughts on the matter.
Why Your Budget Doesn't Work
- Created on 12 May 2015
A side benefit of being immersed in a world of personal finance bloggers is I see A LOT of good tips on everything.
7 ways to rock an all-star budget. Budget your way to success is 3 easy steps. 101 reasons you should start budgeting now.
Okay, that last one might be a slight exaggeration. You get my drift.
We're awash in a sea of excellent tips. However, Americans are still living paycheck-to-paycheck to the tune of 76%. That's a huge chunk who will have difficulty pursuing debt free living. Either these tips are falling on deaf...eyes...or something else is amiss.