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Budgeting Basics: Debt Snowball vs. Debt Avalanche
If you are looking into paying off debt, you have probably come across the terms “debt snowball” and “debt avalanche”. These are two of the most popular methods to pay off debt. Honestly I don’t even know if there is another official way of paying off debt. If there is one, I haven’t heard of it. The Debt Snowball involves paying off your smallest debts first in order to see quick success and progress with your debt payoff plan. The Debt Avalanche involves paying off the highest interest rate debts first in order to save the most money in the long run. In my opinion, neither one is inherently right…
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How to Pay Off $20k of Credit Card Debt in a Year
If you’re struggling with credit card debt, just know that you are far from alone. I know that when I was in the midst of dealing with all of my maxed out credit cards and personal loans, it felt embarrassing to talk about because it seemed like that I was the only one going through it. People don’t like to talk about money, and they definitely don’t like to talk about debt. But did you know that the average household with credit cards has over $16,000 in credit card debt (according to NerdWallet statistics)? So trust me, you are most definitely not alone. It’s a common occurrence in the United…
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Budgeting Basics: What is the BEST Budgeting Method For You?
If you are new to the world of budgeting, it can be completely overwhelming. There are so many different options to choose from! And who even knows what half of those words mean? How can anyone expect you to start budgeting if you don’t even know where to start? That is where this Budget Basics Course comes in.
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Why You Definitely Shouldn’t Join That MLM
We’ve all been there. You’re just sitting there trying to live your life when the girl who bullied you in high school suddenly messages you on Facebook. “Hey, hun😚! I have this awesome business opportunity 💰 that I think you would be just PERFECT for 😍!” -MLM Girl Boss And no matter what you say, she won’t take no for an answer. She promises that this is LIFE CHANGING and that you don’t want to miss out on making 6 figures by working from home! Other than the annoying nature of these messages, there is a lot to unpack about the companies that these women work for. Arbonne, Monat, ItWorks,…
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Budgeting Basics: Building an Emergency Fund
We’ve all been in that position before where something completely unexpected happens and we are not prepared financially (or mentally) for it. Unfortunately, that is often how life works, and there will always be unexpected expenses. But wouldn’t it be nice to decrease the stress a bit by being financially prepared? That way you can just worry about the task at hand, not how you are going to afford it. That is where an emergency fund comes in, and it is CRUCIAL in your budget. If you are new to budgeting, and wondering what steps you need to take to get out of debt and save money, an emergency fund…
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Amazon Products That Actually Save You Money
I used to always go for the cheapest products, without really thinking about how long they would last, or if they were a good deal for the quality. This year, I made it my goal to start investing in the items that I bought, rather than constantly having to repurchases cheaply made items. This is especially important when it comes to budgeting! It’s not about the cost of the item, but the cost per use. Sure, maybe that $10 H&M shirt will look great once… up until it disintegrates in the washer. But if you were to invest $20-30 into a shirt that you wore 30+ times, then the cost…
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8 Tips to Start Living Below Your Means
Due to everything happening right now, I am in complete savings mode. And it seems like most of the world is right there with me. According to Business Insider, 64% of Americans are changing the way they spend and save their money due to the pandemic. Now more than ever, we want to find ways to spend less, so that we can build up our emergency fund and have less anxiety around money. We’re already all cooped up and stressed out, why not try to eliminate some of the financial stress? Here are ways that you can increase the gap between your income and your expenses and live below your…
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How to Get A Month Ahead in Your Finances
Did you know that 78% of people in the U.S. live paycheck to paycheck according to Forbes? But what does that even mean? Living paycheck to paycheck is when the money you earned from TODAY’S paycheck goes toward the bills that are due before you get paid again. So if something were to happen, and you didn’t get that paycheck, you don’t have a buffer. You are constantly in that cycle of making money then immediately spending it. Guess what?? There’s another way to live…and it’s awesome!
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Why I DON’T Follow Dave Ramsey’s Baby Steps
The one personal finance class offered at my high school centered HEAVILY around Dave Ramsey. To be completely honest, I didn’t click with him at the time, and years later, I still don’t. I completely recognize that thousands (maybe even more than that) have found success using Dave Ramsey’s methods. And if it works for you, that’s great! Keep going. There are just aspects of his plan that don’t work for me and my lifestyle. Below are some of the reasons I don’t follow Dave Ramsey’s Baby Steps.
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Budgeting Basics: What IS Budgeting?
If you are new to the world of personal finance, budgeting, paying off debt, or saving for your future, you probably have TONS of questions. People in this space rave about the importance of budgeting, but what IS budgeting anyway? Why do you need a budget? What is its purpose, and what will it do for you?
