So, you’ve probably heard a lot of talk about ways to get out of debt and even various debt help regimes. But, if you’ve never really thought about it, you may not actually know or understand what’s wrong with it. I mean, almost everyone has at least some level of debt, right? And, it often seems like without debt you have a much harder time making large purchases like a new vehicle or your first home…While that is all true, in reality debt is a negative thing in most respects, and here are a few reasons why.
When it comes to the holidays, there is a pretty obvious elephant in the room…Spending. We all know that our focus should be on giving rather than receiving, but it’s difficult to wrap our minds around this concept as it relates to money, especially when money is tight.
For that very reason, many of us turn to credit as a way to source giving gifts to those we love, thinking we’ll be able to “catch up” once the holidays are over. While credit can be an effective way to build your financial report card when used responsibly, debt is a whole other story. My best suggestion? Stay out of debt this holiday season with these simple tips. Continue reading
If you’ve been hanging out with us this week, you know we’ve been talking debt, or more specifically strategies for paying off debt and knocking it out faster than you thought possible. The last couple of posts got me thinking back to our beginning budgeting days, and I remembered the one thing that seemed most difficult for
us me to wrap my brain around was which debt to pay off first.
So, I decided that might be an issue some of you might be having. You’ll get different suggestions from different people, but if you are following the “snowballing” approach that we talked about here, you can easily figure out which debt to throw your extra funds at first with these steps. Continue reading
If I’ve said it once, I’ll say it again. Paying off debt isn’t necessarily complicated, it just takes time. Whether you have credit card debt, student loans, or other debtor obligations, you can make strides to pay off debt and do it faster than you thought possible. However, you will have to work at it.When we began our journey toward financial freedom, it seemed like there was no way we’d get anywhere fast paying down our combined debt. After applying these methods consistently, though, we’ve been able to pay off a good portion of our debt and are well on our way to financial freedom. I’d like to share a few of our best tips for paying off debt fast(er).