5 Things That Happen When You Spend Only Cash

In Friday’s roundup post, I mentioned that my wife and I were restarting our methodology of spending cash only for our day to day expenditures.   Here’s a brief look at how it works: Monthly bills are paid online out of our checking account Each Friday, cash for our personal spending is withdrawn from the ATM. Personal spending includes gas, groceries, allowance for the kids, and entertainment funds With this system we had been extremely successful managing our finances and staying within our budget.  As happens in life, we got lazy and began to let our structure slide in favor of […] Read more »

Don’t Be Fooled By The End Result

I’ve been called crazy, nuts, stupid, inspirational, amazing and countless other terms. I’m a long distance runner. I’ve run 5 marathons, several 10 mile races, a handful of 10Ks and even a few 5Ks. This weekend I’ll be running my second half marathon. Many people cannot comprehend how I can run such long distances. The trap these observers have fallen into is they only see the end result. I don’t just wake up and decide to run 26.2 miles. What isn’t seen is my alarm clock going off at 4:15am to go for my training runs 5 days a week. […] Read more »

Nobody Likes Being Reminded Of Their Mistakes

A high school science teacher from Iowa ate nothing but McDonald’s for six months. Maybe you’ve heard this story before, or maybe you’re thinking this was another one of those attempts to show the public the evils of fast food. If you fall into the later category, you might be surprised to learn that the man lost about 60 pounds, lost 21 inches off his chest, waist, and hips, and significantly lowered his cholesterol. The caveat here is that while he did eat fast food for every meal for 6 months, he also stuck to a 2000 calories a day […] Read more »

The Dangers Of Swiping A Card

If you’re a regular reader here on Enemy Of Debt, you know that I’m a firm believer that cash is king. I’d much rather throw down some greenbacks than swipe a card. Every reason that I love paying for things with cash was reinforced by a situation with my daughter that occurred over the weekend. As I waded through my email, I noticed three email receipts from Apple for purchases made through iTunes. I hadn’t made any purchases during the week, so I was interested to see what had been bought, and by who. The agreement with my kids is […] Read more »

It Feels Good To Be In Control

At the beginning of June, I recognized that we had let all the habits that helped us successfully manage our finances fall by the wayside. My wife and I had a long financial discussion and vowed to get back on track. We even reviewed the actions we needed to put in motion. Then along game a series of life events: Grandma’s Marathon Weekend Wedding Anniversary 4th Of July Vonnie’s Birthday Family Vacation to Wisconsin Dells It would have been fantastic to get our processes rolling in the right direction again before these events since they all required spending a significant […] Read more »

This Is Why You Pay Yourself First

I’ve been generally keeping an eye on what my son spends his money on, as I can see his account details when I log into my bank’s online portal. The agreement was that he could spend his first two paychecks as he wished. After that, he must transfer $150 of each paycheck into his savings account. Transferring the funds to his savings account on payday is a great way to teach the concept of pay yourself first. We haven’t made it to the bank yet to open his savings account. But, I’ve been keeping track of how much of his […] Read more »

Small Victories- Getting Out of Debt One Small Step At a Time

small victories get out of debt one step at a time

Getting out of debt can seem like a daunting task.  When you finally decide to take the step of getting yourself out of debt, it’s easy to be intimidated by the huge goal you’ve presented for yourself. And when you realize what you’re up against, you’re ready to give up on getting out of debt before you even get started. So how do you overcome that overwhelming feeling when you want to achieve your goal, but you’re so intimidated by all the work you know it will take to get it done? You have to chill out, take a step […] Read more »

Bad Debt Collectors and What You Can Do About Them

bad debt collectors collections

Dealing with bad debt is no fun. Dealing with a bad debt collector can be downright terrifying. When you have a bad debt that has gone to a collection agency it can be very easy to want to avoid the pain of the situation or even totally ignore it when you know you can’t possibly pay it.  That’s why some collectors of overdue debt will do everything they can to get your attention, even if it’s illegal. Most debt collection agencies are legit and strictly follow the rules set forth by the FTC  (Federal Trade Commission). However, there are plenty […] Read more »

Instant Gratification Here, There, and Everywhere

I felt myself becoming more agitated as I sat at the stoplight waiting for the light to turn green. I was on my way to the gym, and was anxious to get started. The light was seemingly taking forever, so I decided to figure out how long the light was red.  I was sure it would be a ridiculous amount of time. I remember that I had started a new track as I pulled up to the intersection so I would easily be able to calculate how long I was sitting there. After what seemed like an excruciating eternity the […] Read more »

7 Ways You Can Stay Motivated to Get Out of Debt

7 ways to stay motivated to get out of debt resources

Over the years I’ve seen plenty of people get motivated to get out of debt, but they never end up following through with the process.  They are usually pretty fired up about getting out of debt and start out very motivated.  But not long after they start the process, their energy flags and it’s not long before they lose their motivation. I’ve seen a lot of other people make decent progress in paying down debt, but for whatever reason, they end up losing their focus and go back to their old habits, never finishing the get out of debt process.   How to […] Read more »

How to Get Ahead if You’re Living Paycheck to Paycheck

get ahead living paycheck to paycheck

Some recent studies showed that more than two thirds of people are living paycheck to paycheck at least some of the time. That’s pretty incredible! It seems to be getting harder and harder to keep your head above water financially, and there is no lack of reasons why that’s happening. Some of it is because our attitudes about money have changed over the years.  Some of it is also because of the changing economy, and some of it is probably due to the fact that the world is rapidly changing, and some are getting left behind because they refuse to […] Read more »

Credit Cards Are Officially NOT For Me

Some use credit cards for as many of their day to day expenses as possible in order to rack up reward program points. Some even go through a process called credit card churning to earn points for signing up for a new accounts in exchange for cash, airline miles, or travel accommodations.  I know people that have taken their entire family on a free, or nearly free, trip by using such methods. Good for them, as long as they’re using their cards responsibly. But this kind of “beat the system” mentality is not for everyone. Not everyone has the internal […] Read more »

How to Talk Yourself Out of Debt By Creating a New Script

How to Talk Yourself Out of Debt By Creating a New Script

Could it really be possible to talk yourself out of debt?  Can getting out of debt really be that easy? Actually, no, I don’t believe it is. Getting out of debt is not as easy as talking to yourself using the right words.  You have to take action as well. Even the bible says “In all toil there is profit, but mere talk tends only to poverty”- Proverbs 14:23   The Right Self Talk Helps But using the right kind of self talk can get you into the right mindset to change habits and get out of debt for good. […] Read more »

5 Simple Steps to Start Getting Out of Debt Right Now

get out of debt steps how to

Have you ever tried to get out of debt but just didn’t know where to start?  I think most anybody who’s attempted to get out of debt has experienced that feeling at some point. You have decided you’re no longer comfortable with your debt load, and now it’s time to do something about it, but you’re just not sure what to do. So how do you get started? You can start by taking some small, easy steps to set yourself up for success.  In this post I’ll show you the best small steps you can take right now to get […] Read more »