Tag: life goals

budgeting, financial freedom, lifestyle, money, UncategorizedLeave a comment

How to Settle Bad Debt

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Bad debt is something that has gone to collections. Debt often gets sold off to debt collection agencies when you don’t pay on it enough to satisfy the creditor. Sometimes they will sue you in order to get their money. It’s never good to let any accounts get to this state, however, you can use it to your advantage. At this point the collectors or creditors should accept a settlement. Settling an account means you can negotiate a lump sum payment to “payoff” the account. You cannot settle debt with the IRS or government student loans. You must be careful … Continue reading How to Settle Bad Debt

budgeting, Entrepreneurs, financial freedom, lifestyle, money, UncategorizedLeave a comment

What it means to live Frugally

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fru·gal adjective sparing or economical with regard to money or food. simple and plain and costing little.   We have lived a frugal lifestyle for quite a while. We have done it in the past out of necessity, now we do it so we can achieve our goals. We can go weeks without spending money on anything other than bills and groceries. We cook almost all of our own food, we don’t go out to eat very often, pizza is our weakness though. We plan our dinners weekly and we have a short list of snack items that we regularly … Continue reading What it means to live Frugally

budgeting, Entrepreneurs, financial freedom, lifestyle, money, UncategorizedLeave a comment

What is the Cash Envelope System?

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You’re trying to learn to budget, or you already know how to budget, but it’s difficult to stick to your actual numbers. Some bills are hard to budget for like gas, water and electric since they are based off of usage. Other places that may be hard to stick to a budget is groceries, gas, miscellaneous or fun money. Studies have shown that your brain processes using cash different and more painful that just swiping a card. Swiping a card is easy, whereas handing over physical cash makes you double think your purchases. Using that information, if you stick cash … Continue reading What is the Cash Envelope System?

budgeting, Entrepreneurs, financial freedom, lifestyle, money, UncategorizedLeave a comment

Where to start your Debt Free Journey

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You’ve had it! You’re tired of being stressed out about money. You’re tired of wondering what bill you’re only going to partially pay this month because you can’t afford groceries and bills. Maybe you’re like me and your vehicle is on the repo list and you have to short your rent check to get it off the list. I’ve been there, in that exact place. I thought that since I listed out my bills each month and when they were due that I was living on a budget. I thought that since I didn’t overdraw my account and that I … Continue reading Where to start your Debt Free Journey

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Why you need Insurance

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You might not think that insurance has much to do with finances, but it most certainly does. There’s many kinds of insurance: health, car, renter, homeowner, life and more. I personally have all the above. My life insurance policy was gifted to me by my grandmother. My family is safe from any financial burdens that my death may bring. I haven’t dealt directly with the policy, but it brings me a sense of relief knowing that during their time of grieving, they won’t have to worry about how to pay for funeral costs or bills or anything like that. I … Continue reading Why you need Insurance

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What are Sinking Funds?

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When I started this, I kept seeing “sinking funds” everywhere. Y’all, I was so confused! I had no idea what they were or why they were so important. So I did some research. Sinking funds are specific items you know come up within the year, but aren’t a monthly payment. For example, Christmas, birthdays, car registration, etc. These are things you still have to pay for, just not monthly. I thought about what things were important and that I knew I needed to pay for within the next year. I came up with Christmas (next year), truck registration, birthdays and … Continue reading What are Sinking Funds?

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How to boost your Income

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One of the biggest factors in how fast you can pay off debt, is your income. If you have $30,000 in debt, $5,000 extra dollars can shave off a couple months off your debt snowball. If you’re really serious about getting out of debt fast, your best bet is to get a side hustle or two! My husband works retail, so right now with the holidays, he’s getting extra hours. I work from home as a remote assistant, it’s contract based, so I choose when and how much I work. I have a couple other things I do to bring … Continue reading How to boost your Income

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What is Normal?

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These days it’s normal to have debt. Everyone has a car payment. Everyone has a credit card. A mortgage payment, if it’s not yours, it’s your landlords. There’s a pandemic of student loans. Why is it normal to have debt, but weird to pay for things in cash? Why do we worship the almighty credit score? Because that’s what we were taught. It’s the only thing we’ve ever known as millennials. Most of us remember what is known as the Great Recession of 2008-2009. I know I do. At the time I was in high school. My parents, who were … Continue reading What is Normal?

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Why financing Cars is a bad idea

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I got my first car when I was 18. I searched far and wide to find something different, something just for me. I ended up finding a purple 1998 Dodge Dakota. It had 190,000 miles on it and it wasn’t perfect, but it was perfect for me! I loved it! He was lovingly named Barney for his color. I was lucky enough that my grandpa bought it for me and I didn’t have any payments. In the next 3 years I moved from California to Kansas to Colorado. Barney served me well. Going to college, getting married and then making … Continue reading Why financing Cars is a bad idea