Got Discipline? A Key Ingredient in Dumping Debt
- Created on 17 September 2015
Dumping debt themes appear in messages from a number of sources. I heard a great sermon from Charles Stanley of Intouch Ministries about developing discipline.
In a minute I’ll try to highlight a few of his points as they relate to finances. First, can we all agree that discipline is a good thing, something we can all use more of. But what is it?
My Webster’s II New Riverside Dictionary defines discipline as training intended to elicit a specific pattern of behavior or character.
That’s right … training!
If we are going to whip our lives into great financial shape we need training. Just like those who run marathons or loose large quantities of weight, to develop sound fiscal muscles we need a training program.
Managing Your Budget Busting Triggers
- Created on 15 September 2015
Budget busting triggers are people, places, things or events (nouns or verbs) that make it challenging to stick with a budget in a particular area. To best understand your budget busting triggers, it helps to make completing a budget a regular part of your routine.
Please start here: Running a Fabulous Finance Committee Meeting.
Dealing with these triggers can be challenging. Challenging does not mean impossible.
You can create a budget, and you can navigate around the triggers that have caused problems in the past. It can be done. Let's look at a few common triggers and how to work over, around, and through them.
A Million Reasons to Love Million in 10
- Created on 11 September 2015
I haven't done a straight on book review in a while. I miss these...I should plan to do more.
Thomas J. Stanley, author of The Millionaire Next Door, reminds us that the average millionaire reads 1 nonfiction book a month. With this latest read, Million in 10 by Maarten van Lier, I feel like I'm hitting two birds with one stone (although hitting birds goes against most of what I stand for).
Maarten van Lier could be a profile taken straight from the pages of Stanley's book. Maybe I'll send Stanley my review...hmmm.
Maarten is a first generation millionaire. He doesn't believe in carrying credit card debt month to month. He doesn't live a flashy, over-indulgent lifestyle. Yet, he's a millionaire through and through who just might happen to live next door to you.
Overcome Debt Free Obstacles: Spending and Income Problems
- Created on 07 September 2015
Achieving a debt free lifestyle is a noble goal. I talk with plenty of people who desire debt freedom, but turning a dream into reality takes work. Now this work is not impossible. Quite frankly it’s very doable. You just have to work it.
The first step in any personal finance course of action will be to know your status. Knowing how much you have coming in vs what you have going out. That’s called a budget.
A budget can be as simple as you’re A,B,C’s:
- Account for all income sources
- Be specific about your expenses
- Commit to create a budget on a regular basis (How to Run a Fabulous Finance Committee Meeting)
You don't need fancy software or sophisticated spreadsheets to create an effective budget. Get the basics down (income minus expenses) in written form. That's a great start.
Tame Your Grocery Bill with Simple Ways to Save
- Created on 03 September 2015
I’ve added a new item to my bucket list. Get invited to a home cooked meal at Steve and Annette Economidies. She had me at lamb chops...
Steve and Annette have been married for the better part of 3 decades. This frugal family didn’t start out as money masters, but over the years they’ve learned how to do more with the money they had. Annette shares that finding ways to accomplish their goals without debt became a game.
Sunshine Blogger Award
- Created on 01 September 2015
I've been recognized - by my peer - for spreading sunshine.
Recognition of your efforts is always a nice thing. So I appreciate Maarten Van Lier of Million in 10 for spreading a little sunshine my way.
If you haven't yet heard Maarten's fabulous story about his goal of reaching the millionaire status in ten years, please do listen to this episode (How to Create a $300,000 in the Bank Attitude) of the Midday Money Show.
Find $200/month in your Budget Challenge
- Created on 27 August 2015
I've been engaged in a most interesting experiment. I've been helping people find $200/month on paper in their budget. So far (as of the published date for this post), 100% of those I've talked with have found at least $200 - if not more - that can be redirected toward dumping debt faster in their monthly budget.
Yes, that's $200 on paper, but it's a great start.
Here are the major culprits to investigate when looking for areas to streamline.