Search Results for: blog five ways to stay motivated to get out of debt

Five Steps that Will Help You Go on A Spending Break

If you have an unexpected bill, want to take care of a new purchase with cash, build up an emergency fund or just get closer to paying off your overall debt, you might want to consider going on a spending break. How much extra money you accumulate will depend on what you normally spend in any given time period plus how long you decide to stay on your spending break. Saving $500 this month is not unthinkable for most families. Before you get started with a spending break, you’ll need to have a plan to ensure the best success and … Continue reading →

Protecting Yourself from a Debt Relief Company

If you are seriously in debt, you may need the help of a debt relief company. These companies promise to get the creditors off of your back, negotiate for you, act as a shield of protection, and guide you to the right way to pay off that debt. Unfortunately, for a majority of these companies, the real goal is to scam you out of any remaining assets that you might have. Here is what you need to know and need to look for in a debt relief company, in order to protect yourself. First of all, why would these companies … Continue reading →

Dump the Storage Unit and Get Out of Debt

According to the New York Times, the number of self-storage units in the United States is on the rise. Unfortunately, most people really don’t need self-storage units. They are usually a waste of money and can contribute to debt. Dumping the storage unit can offer you instant savings. There are very few smart reasons to have a storage unit, and the majority of these require only temporary storage. For example, if a family is moving to a new home and is temporarily renting a furnished apartment while they wait to close on the new house. Renting a self-storage unit year … Continue reading →

Do You Live in an Economically Depressed Area?

It can be difficult to live in an economically depressed area for many reasons. If you own your home, it can also be difficult to leave the area. It is difficult to watch the place you live struggle. The situation only becomes worse as people move away. Here are five financial tips if you live in an economically depressed area. 1) It is important to broaden your job skills if you live in an economically depressed area. This can help you look for a better job if you need to. It may also make you more valuable to the company … Continue reading →

Financial Preparedness Advice from Money Bloggers

One important part of preparing for the future is having your finances in order. The money blog here at families.com is a great resource for learning to budget your money, save, invest, and get out of debt. Here are some great articles to read that will help you be financially prepared for whatever life has to offer: Preparing for death: Writing Down Your Wishes Everyone should have a will, especially those with children or those married with children from a previous relationship. The Basics of Estate Planning For more information on starting a will or trust, read this article. Getting … Continue reading →

Small or Big, where do I watch my pennies?

Should you sweat the big stuff or the small stuff when starting out? What a great question I received from a friend, and I’ll try to answer simply. Both of course. Watch both the pennies and the dollars Ok, but that may be easier said than done – after all, your starting out and want to pull your finances in line, but everything seems so, well, daunting! I’ve written about baby steps to take when you are starting to plan a budget, but what if you have to start even smaller than that to get yourself motivated? Here’s what Hubby … Continue reading →

Tips for Using a Money Mentor

Have you ever considered using a mentor to help yourself improve your money situation? This can be an effective way to help you to change the way that you manage money. It gives you someone else that you are accountable to, and whom you can bounce your ideas off of. A good mentor will provide your encouragement, and sound advice. When you are considering looking for someone to mentor you in your money management skills you need to make sure that their philosophy mirrors the one that you want to embrace. It does not make sense to choose a risk … Continue reading →

Are Your Budgeting Changes Worth the Sacrifice?

As you begin to make the changes you need to in your budget and spending habits, it is important to not become discouraged. It can be difficult to make the changes that are necessary to help you bring your finances under control. For some people it may take quite a few years to get themselves out of the hole that they have created. For others it may not take as long. It is important to realize that the no matter how long it takes, you are making changes for the better. If you are using the debt snowball, it begins … Continue reading →

Are You Considering Moving in with Your Parents to Save Money?

There are various financial reasons that you may consider moving in with your parents for a short period of time. Usually it involves saving for a house or paying for college. It may be so that you can get out of debt more quickly. It can be very difficult to move into someone else’s household. It can also cause strain on an otherwise good relationship. If this is a choice that you feel you need to make here are five tips to help make the process more positive. 1) You need to sit down and set up boundaries. This includes … Continue reading →

Can You Change Your Money Habits?

If you find yourself in a difficult financial situation, wondering how you will ever be able to pay off the bills, or put food on the table you may be asking yourself if you can change your spending habits. The answer is a simple yes you can. The key is that you want to change badly enough that you are willing to take a look at the spending habits that got you there in the first place. Many people do not want to take that long hard look at themselves, and decide that they need to change. These people are … Continue reading →