The Big Wins You Should Go After

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The following is a guest post from Martin of Studenomics, where he’s totally focused on creating financial freedom by 30! I’ve been writing about personal finance for five years now. I’ve explored every topic from big wins to frugality to real estate. There are times where I discuss more advanced topics. Then sometimes I run into a friend and they want to hear about getting started. I know that most of you are past the stage of getting started so we won’t discuss the basics. Instead we will refresh on the big wins. The one thing that we’re all delusional […] Read more »

It Takes Money To Save Money

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It takes money to make money. It’s a common phrase you may have heard before. My interpretation of the phrase boils down to investing, whether it be in stocks or a business. If you have money, it gives you more options to be able to generate more money.   Over the weekend I found a similar but less known assertion to be true. It takes money to save money. One of the things that I had let go of while we were paying off our debt was our lawn care. I love having a lush green lawn, but achieving the look […] Read more »

Review and Give Away: How Much Money Do I Need To Retire?

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The book had been sitting on my desk in my home office for months, staring at me in plain sight as a reminder that I needed to read it. Someday. I had received How Much Money Do I Need To Retire from the author, Todd Tresidder, at the Financial Blogger Conference back in October, but I just couldn’t seem to find the time or the motivation to read it. Looking back, my mind just wasn’t in the right place. At the time, getting back on track with our retirement planning was just a twinkle in my eye. We only had […] Read more »

Debt Relief Firms: Why Use One and How to Pick a Good One

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If you’re currently in debt and are considering working with a debt relief firm, you’re in good company. Many people just like you are turning to debt relief firms to help them create and follow a plan for freeing themselves from debt. But why would you opt to work with a debt relief firm versus trying to attack your debt on your own? And if you choose to work with a debt relief firm, how can you find one that will do a good job? Let’s take a moment to answer these questions and more. A Guide for Your Journey […] Read more »

Build Your Budget Foundation

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The foundation of a couple being successful with their finances requires a clearly defined method of budgeting, and frequent, open, and honest communication between the two people involved. Do you have this foundation? Vonnie and I didn’t for the first thirteen years of our marriage. Our budget, and I use that term extremely loosely, consisted of a piece of paper that listed about half of our monthly bills that I folded up and stored in the back of my checkbook folder. Our communication about our finances was non-existent, so it was no wonder that our finances failed miserably. Building a […] Read more »

3 Ways to Get the Most From Your Income Tax Refund

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Over 100 million Americans received refunds in 2013. Undoubtedly, the effects of such windfalls wore off long ago. Were these bonuses used wisely? Here are three ways you can get the most from your income tax refund: 1. Prepare for an Unexpected Event This sounds like an oxymoron, being prepared for something unexpected, but this could be the smartest move for anyone – even someone in debt. Nothing could be smarter than to cash the check and put it into a savings account for emergencies. Let’s face it – something bad is going to happen someday and those things usually cost […] Read more »

First Budget Post Debt Management Plan: How Did Our Spending Change?

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My wife and I sat down last Friday to go over our budget and spending plan for the weekend, just like we always do.  Except this time the numbers looked very different. March is the first month in over four and a half years that we don’t have to make a payment to our debt management program.  More accurately, this is the first time in seventeen years of marriage that a significant percentage of our monthly income isn’t going towards credit card payments. That feels freakishly awesome. I made my usual income and bill statement for the month and looked […] Read more »

Lies We Tell Ourselves So We Can Keep Our Credit Cards

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People love their credit cards. Why? They aren’t valuable, can’t be traded or sold, and cost people money and often their freedom. I’ve been separated from my credit cards for over seven years and can tell you that I don’t miss them a bit. Now that I’m coaching people through their debt problems I get to hear all the same lies I used to say that justified my reason for keeping the plastic crutches. Do you feel a shiver in your spine when you hear these lies people say so they can keep their credit cards? “I only use my […] Read more »

It’s Over. We’re Free!

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This morning I made a quick phone call, and just like that it was over. With our 55th payment, plus a partial payment scheduled to be automatically withdrawn on Tuesday, the last of the $109,000 of credit card debt that we had enrolled in our debt management plan is gone. We’re free!!! Free from the shackles of debt that have have held us down for our entire seventeen year marriage. Free to finally have the decision of what to do with our money fully within our own control instead of having to hand it over to credit card companies.  No […] Read more »

I Don’t Want To Pay Off My Debt Anymore!

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Today’s post is courtesy of John Schmoll, who is the founder of Frugal Rules, a blog created to help people experience financial freedom through frugality. John is passionate about budgeting, saving and investing and enjoys sharing his knowledge and experience with others so they can avoid making some of the mistakes that he made. A veteran of the financial services industry, John has an MBA in Finance and experience as a licensed stockbroker. Now that I’ve got your attention, let me tell you that I’m not thinking of giving up on paying off my debt. 🙂 Instead, I’m expressing the […] Read more »

How to pay $2,048 in debt before Thanksgiving by doubling-down

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Would you be interested in knowing how to pay off $2,048 in debt? We all know having a budget is important, but budgeting doesn’t work unless you do. That is why motivation, encouragement, and a vision to succeed is required when putting on the uniform as an Enemy Of Debt. Follow these three ideas to pay $2,048 in debt before carving your next Thanksgiving turkey.   The power of a post-it note Write your most urgent goal on a post-it note and stick it to your bathroom mirror. It doesn’t have to be prolific and it doesn’t have to be […] Read more »

My New Decade Resolution: Paying Off My Mortgage Early

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As another year comes to a close, people will reflect upon their successes and failures of the past year. They will also look forward to 2014 and set goals for what they hope to accomplish in the new year. Having turned 40 over the weekend, I’m taking a bigger picture approach. I started reflecting on my life in terms of decades. I spent my entire twenties and half of my thirties being financially irresponsible racking up $109,000 of credit card debt. The second half of my thirties was spent recovering, paying off that debt through the help of a debt […] Read more »

Debt Free For the Holidays

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Today’s post is a guest post from Jefferson, who writes for the family finance site, See Debt Run. The site began as a place to chronicle a family’s journey out of debt, but has evolved into a place to discuss a whole spectrum of topics around family finance. They discuss everything from saving money on groceries, to how to teach your kids about money, to even how to find out if your co-workers are making more money than you. Last year at this time, my wife and I didn’t get each other anything for Christmas. We didn’t have to. We were […] Read more »

Are You Perfect?

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Like most stereotypical males, I enjoy movies with lots of action and explosions. But I also really enjoy movies that inspire, and cause me to reflect upon the things going on within my own life. I got pulled into just such a movie one night last weekend. It’s one of my all time favorites, and I stayed up way too late to watch the ending. The movie is Friday Night Lights. Note: Before you non-football fans roll your eyes and click away, be patient for just a moment, this post has only a passing reference to football. My favorite part, […] Read more »