Our Debt Free Family

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How Safe is your Home? Here’s How to Tell

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<p>Your home is your castle. Which means you want to keep your family as safe as possible when they're inside of it. But how safe is your home, really? There are so many things to consider when it comes to the safety of your home. Everything from potential break-ins to the strength of certain valves in the systems of your home. Air pressure can impact your home's safety, since dispense valves generally require a minimum air pressure of 70 to 80 psi in order to function properly. If you're unsure how to tell how safe your home is, you should do a full inspection. Here are some questions to help you get started.</p>::Pexels

Your home is your castle. Which means you want to keep your family as safe as possible when they’re inside of it. But how safe is your home, really? There are so many things to consider when it comes to the safety of your home. Everything from potential break-ins to the strength of certain valves in the systems of your home. Air pressure can impact your home’s safety, since dispense valves generally require a minimum air pressure of 70 to 80 psi in order to function properly. If you’re unsure how to tell how safe your home is, you should do a full inspection. Here are some questions to help you get started.

 

How Safe Is the Neighborhood?

To determine how safe your home is from outside threats, look at how safe your neighborhood is. Look into the crime rates in your area, especially for things like car theft and robbery. If the rates are high in your neighborhood, it is worth taking extra precautions to keep your home safe. However, it is important that you actually look into the numbers yourself instead of relying on reputation or stereotypes. Otherwise, you might make assumptions about your neighborhood that will either cause you unnecessary stress or make you too lax in your preparations.

 

Do You Have a Security System?

No matter where you live, a security system can add another layer of protection to your home and family. Consider buying a system for your home. There are many types of security, which can be put together to set up a system that works well for your family. Surveillance cameras are a popular option. According to IHS Markit’s latest report, over one billion surveillance cameras will be installed worldwide by the end of the year. Cameras can help deter crime or solve it after it’s been committed. Along with your cameras, you can install alarms and extra locks. You might also consider getting a dog as a threat deterrent as well as a furry member of the family.

 

Is Your Home Well-Maintained?

No matter how safe your home is from exterior threats, you need to make sure you address the interior ones as well. According to the National Floor Safety Institute, slips and falls are the leading reason for worker’s compensation claims. They are also the top cause of occupational injury in people over the age of 55. It is equally important to avoid falls at home, so make sure that your home is well-maintained. The floors should be even and there should be safety rails on all of the stairs. As you maintain your home, look for fall risks, as well as any other potential dangers. This will help you avoid injuries to your family or visitors.

 

Do You Have Supplies?

While you don’t need to set up an underground bunker in order to keep your family safe, you should always have a two-week supply of food, water, and other necessities on hand. This will keep your family safe in any kind of emergency that might require you to stay inside for two weeks. You should also consider how you will keep warm or cool if the power goes out. By considering potential emergencies ahead of time and preparing for them, you’ll be in a better position to keep your family safe during an emergency situation.

The safety of your home and family should be your top priority. This is why it is so important to take extra steps to keep your home safe. Look at all the ways that your home could be in danger, then figure out how to prevent these things from happening. If you apply the questions above, you’ll be off to a good start at figuring out how safe your home is. Then you can take the necessary steps from there.

 

Financial Lessons That I Hope to Teach My Daughter

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<p>This year is my first year celebrating Mother's Day as a mom. My eight-month-old baby girl amazes me every single day. As she gets older, I keep thinking about the things I'd really like to teach her, especially where money is concerned.</p>::Pexels

This year is my first year celebrating Mother’s Day as a mom. My eight-month-old baby girl amazes me every single day. As she gets older, I keep thinking about the things I’d really like to teach her, especially where money is concerned.

Financial Lessons My Mom Taught Me

When I think about the things I’d like to teach my daughter I always think about all the things my mom taught me that I carry through my life. One of the biggest lessons I learned from her regarding finances is that there is always more money to be made. Mom hustled a lot while I was growing up. She’s always worked a full-time job and played in multiple orchestras as a violinist. It meant she was gone a bit from October through May, but she made things happen.

I also learned that managing your finances is difficult. As a kid, I was aware of our money struggles. I watched my mom sell a number of her prized possessions so that we could pay our mortgage. We had cars repossessed (my parents would park it in the road and go get another before it hit their credit). Eventually, we lost our home too. At the end of it all though, we were alright. We made things work, we survived.

In our home now, until recently, we were still living paycheck to paycheck. Still, a very small upheaval could cause a big problem in our lives financially. While my mom taught me that money isn’t the end-all-be-all, I entered adulthood still lacking some basic personal finance skills.

What I’d Like to Teach My Daughter

Similar to how my mom taught me that there’s always more money, I’d like to instill in my daughter that money truly isn’t everything. While it is a necessity in the world, it shouldn’t be what you center your life around. Make money, manage it wisely, and life your live to the fullest.

At the same time, I’d like to teach her some of the things I’d wish I’d known. For example, I would like to help her understand budgeting. I’d also like to help her understand loans, interest rates, education and debt. I took on a lot of debt as a young adult that I would’ve probably avoided if I had some additional guidance. As I’ve mentioned here on the blog before, I’d like to be able to set up a savings account for her education and set her up for success.

That said, my mom did such a good job. I was aware of our finances and knew that money was an aspect of life, something most kids aren’t able to wrap their brains around.

Closing Thoughts

Moms are special people. If you are a mom celebrating Mother’s Day this weekend, remember that you are making a huge impact on the world. Everything you’re doing is making a lasting impact on your kids. Most of all, you’re doing a good job.

Happy Mother’s Day!

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My Favorite Personal Finance TikToks To Follow

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<p>If you're like me, you've been slow to come around to the TikTok craze. Slowly but surely, however, my husband and friends have lured me over to the dark side. Now, every once in a while, I catch myself having spent the last half hour mindlessly scrolling on TikTok. While there are a lot of dance videos and silly content out there, TikTok actually has a few opportunities for people to learn.</p>::Pexels

If you’re like me, you’ve been slow to come around to the TikTok craze. Slowly but surely, however, my husband and friends have lured me over to the dark side. Now, every once in a while, I catch myself having spent the last half hour mindlessly scrolling on TikTok. While there are a lot of dance videos and silly content out there, TikTok actually has a few opportunities for people to learn.

For my husband, those learning opportunities present themselves in the form of conspiracy theorists and the investigative types on the platform. For me, I am amazed at the amount of financial advice and information being shared for free. That said, here are some of my favorite finance TikToks that you should consider following.

No Budget Babe

The most inspiring thing about Nicole Victoria, the No Budget Babe, is that she is around my age. She’s has been prepping for the arrival of her newborn secretly (she actually revealed that she was pregnant to her followers more recently). Nicole’s TikTok page is fairly simple. She hops on and gives you a quick reality check about your money. News flash: you are in complete control of your financial future. Best of all, Nicole is a proven success story. She’s already got a net worth of $1 million and completely paid off all of her debt, totaling around $40K.

 

@nobudgetbabe Reply to @_ro16_ ♬ original sound – Nicole Victoria | Money Coach

SaveLiveThrive

SaveLiveThrive is run by a woman named Charlotte. She is a financial coach. Her main focus is on helping women better understand their finances. In her bio, she states her videos are for education only, not advice. That being said, her story and mission are pretty inspirational. Charlotte got out of a toxic relationship in her early 20s, similar to myself, even though leaving hurt her financially. Her experience prompted her to help educate other women about how they can become financially independent. A lot of her posts are informative, but she also shares relatable content like this.

 

@savelivethrive My mom is actually one of my biggest financial role models, but this is definitely a toxic habit that stuck with me for awhile #moneyhabits #moneyscripts ♬ original sound – Cub

InspiredBudget

Allison Baggerly, known by her handle @inspiredbudget online, is another great person to follow on TikTok and anywhere else you exist on social media. She shares some great tips about getting your budget on track and also shares her own budgeting story. As we all know, creating and sticking to a budget is one of the most difficult parts of managing your finances. Allison makes it easier to understand with her content and doesn’t belittle anyone for not already having their s*** together. Best of all, everything is simple and straightforward. Check her out below!

 

@inspiredbudget Just try one! #budgeting #budgetlife #budgetlifehack #budgetingtips #debtfreejourney #debtfreecommunity #budgetbinder #budgettok #personalfinance ♬ original sound – Allison Baggerly

Who are your favorite TikTokers in the finance world? Link them below!

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HOW TRADING BITCOIN GOT ME OUT OF DEBT

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Bitcoin or say, any other cryptocurrency is just a way to store money and utilize it later on when its worth increases. Though this is a risky step to take, but many have been benefitted a lot through it rather than going into loss. And you know what? Many have even traded the bitcoin to get themselves out of severe debt cases. Though that’s all a matter of luck and also the economic situation of a state but currently bitcoin has been a source of real term profits.

Bitcoin in an interesting way of making loads of savings, cause it’s not the mainstream bank account money saving routine but in fact is thrilling and more engaging. Suppose if I purchase $100 of bitcoin, and after a year the worth raises even by 0.2% (thinking from the least) I would definitely get some amount for the investment I made earlier. This is how this profit cycle works. However, in different countries the case is different. Some people even go in debts after making huge investments in cryptocurrencies and that’s not what you should be doing AT ALL! There’s another surprising IT invention supporting the cryptocurrency; a software and that too, automated that claims to automatically trade, buy and sell bitcoin. It gives you a proper ratio of the market rate and hence makes sure that the currency you investing in is going to give you a decent profit.

This Bitcoin Trader review by Inside Bitcoins has eliminated the worries of the manual process, where you weren’t even sure the currency you are investing in is going to get you off debts or not. This software has also been endorsed upon the renowned programs such as the, ‘Shark Tank’ and the ‘ Dragons Den’. Trades are done within minutes and with amazing accuracy that you would be shocked upon. Additionally, here are some general tips I should drop in, so that trading bitcoin can quickly get you out of debt.

  1. This software can give you a return of almost 88%
  2. The app is highly functional, however you might have to handle some risks in auto-trading.
  3. For a beginner, I would suggest not to invest more than 250 euros. Once you get used to the software automation system and its functionality you can invest as much as you like, but for a start; keep it minimum.
  4. Your part is pretty much done, once you create an account and deposit the currency. Now you no longer have to contribute anything. Everything would be done by a Robot with 100% automation.
  5. Your account inside the software application is going to act as an app and get you the profits relative to your money.

This was all about how trading bitcoin can get you out of debt. Make sure to take the safety precautions before you jump into something you literally have no idea about! Good luck.

When Can You Be Taken To Court Over Debt?

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Taken to court over debt

Repaying your debt is stressful enough without having to deal with debt collectors and, even worse, lawyers. You may have heard horror stories of people being taken to court over debt. If you’re like me, you probably push those to the back of your mind. In some cases, those stories don’t even seem real. However, you can be taken to court over debt and millions of people have been.

Are You in Danger of Being Taken to Court Over Debt?

You can be taken to court over a number of different kinds of debt, including medical debt, auto loans, business debt, and even credit cards. The only debt you’re not likely to be taken to court for is a foreclosure. In most cases, the mortgage company is able to resell the property and you won’t be taken to court for that.

One of the best ways to stay on top of whether you are in danger of being taken to court or not is to open your mail. Believe it or not, many people just throw away mail that comes in. Sometimes people throw away important notices regarding debt. If you do that, you could land yourself in court to settle those debts.

What To Do

Finding out that you are in danger of being taken to court over debt is enough to send your anxiety through the roof. The first thing you should do after you find this information out is to contact some kind of legal aid. Some lawyers will offer you a discount or even a free consultation for your problem. In some cases, lawyers will provide their services for cases like these pro bono.

Next, be sure you do research on what the statute of limitations is on the debt you owe is. For different debts, the amount of time changes. It also varies from state to state. Additionally, your “time” can restart in some cases. You’ll want to be sure you’ve educated yourself about these limitations before getting too upset. It may turn out that you are no longer responsible for the debt (though you should never have that mindset).

Once you’ve done those two things, decide on how you wish to move forward. If you cannot pay the debt, you may be able to work out a settlement or payment arrangement within the court. Take a step back and assess what the best plan of action will be for you.

Readers, have you ever been taken to court over debt? How did you handle it?

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Planning for Unexpected Expenses

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planning for unexpected expenses

There is no doubt we’ve made strides in the right direction as far as our finances are concerned. However, there is still one area in which we are failing: planning for unexpected expenses.

This week I got the bridesmaid dress for an upcoming wedding in the mail (two weeks out from the wedding) and my worst nightmare occurred. It didn’t fit! It was far too late to return it for the correct size, so I decided to take it to a local alterations place. The total for the changes needed came out to $250.

The price definitely threw me for a loop and, because we aren’t using credit cards, it came directly out of savings. I was frustrated with myself for not planning ahead for alterations costs.

Why is Planning for Unexpected Expenses Important?

Planning for unexpected expenses is key to becoming debt-free. If we weren’t so devoted to not swiping our credit cards, I could have easily racked up another $250 in debt without batting an eye. The same is true for other expenses that may come your way out of the blue.

Failing to prepare for this is can lead to you hindering your debt progress. Not to mention, it can have an impact on your emergency savings and take away from paying off your debts. It can also put a dent in your emergency savings. Then you have to readjust your finances to refocus on padding your savings accounts once again instead of using the money for my debts.

How to Plan for Unexpected Expenses

Thankfully, there are things you can do to plan for the unexpected things in life. Here are a few tips to help you avoid the mistake I’ve made.

First, identify your unexpected expenses. Of course, we can’t always see into the future, but if there’s something that comes up with some regularity, you can try to plan ahead for it. For instance, property taxes, medical expenses, birthdays and holidays, and car repairs can all be planned for.

To identify other unexpected expenses, you can take a look at the past year’s bank and credit card statements. Note any irregular purchases and try to budget for that. You can add up the total of all the expenses and then divide it by 52 weeks. Set aside that amount every week moving forward. This can help you have the money set aside when something unexpected comes up.

Doing this will help you plan ahead and (unlike me) have the cash set aside when something may pop up. Do you have any additional tips you’d add? Leave them in the comments below!

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What is the Best Debt Advice?

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debt advice

People are pretty much always willing to offer up advice, even when you haven’t asked for it. Throughout my debt freedom journey, I’ve received advice from a number of individuals, but how do you decipher what advice is good and what you should let go “in one ear and out the other?” Here’s how to determine if the debt advice you’re receiving is something to consider or not.

What is the Best Debt Advice?

So, there’s no best advice when it comes to paying off debt. Everyone’s finances are different, therefore, their approach will need to be different. However, there are certain pieces of debt advice that have consistently helped people.

  1. Make a budget and stick to it. Believe it or not, budgeting for repaying your debt makes it easier to stay on track. Not to mention, having a solid budget will keep you from overspending, which is what causes most people to go into debt in the first place.
  2. Avoid taking on any new/additional debt. If you have become accustomed to swiping your credit card for things, this can be difficult. Consider hiding it or even cutting it up. Additionally, you shouldn’t take out any loans to consolidate your debt. It will almost always prevent you from making significant progress towards your goal.
  3. Set realistic goals for yourself. Many people fail at making realistic goals when it comes to their finances. If you stretch yourself too thin, you’ll cave under stress. Be sure to budget money for fun things and set realistic time frames for debt and savings goals based on that.
  4. Contact your lenders if you’re having trouble paying. We’ve all had issues making payments at some point. The best thing you can do if you’re struggling to repay a lender is to give them a call. Most will work with you on repayment and some will even give you a break on late fees, etc.
  5. If you can’t pay cash, you can’t afford it. Cash is king. If you don’t have the money in the bank, or you haven’t budgeted for the purchase, you can’t afford it. It’s that simple.

While these five pieces of debt advice are solid, not everything everyone tells you is going to help you pay off your debt. Here are a few things to consider.

How to Determine What Advice is Good

Be wary of anyone telling you there’s a “cure-all” to your debt problem. No single approach is good for everyone. You’ll need to cater your debt freedom journey to your personal needs. It may be worth looking into certain approaches if what you are doing isn’t working, but what works for someone else won’t always necessarily work for you.

Additionally, don’t listen to anyone telling you that taking out more debt to consolidate or further your progress is a good idea. You will only be hindering your ultimate goal of being debt-free. Instead, consider ways you can cut spending or earn more to help pay off your debts.

The Best Piece of Advice I’ve Ever Received

Since starting my own debt-free journey, I’ve received all kinds of advice from several different people. Some individuals have suggested consolidation loans, others have said to use all of my savings to pay off my debt, and one person even told me that I didn’t have to pay certain debts off (seriously).

The best piece of debt advice I’ve ever received, however, was this: be patient with yourself. There is no roadmap to debt freedom. The journey looks different for everyone and we all have to feel our way through things. For us, we’ve had to learn to live on one income, hide the credit cards, and focus on living a cash-only lifestyle. That may not work for everyone, especially for families with children.

It is easy to get frustrated when you aren’t seeing progress and it is even easier to simply give up. Finding patience for your journey and yourself is key to becoming debt-free.

Readers, what is the best piece of debt advice you’ve ever received? 

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How Much Does It Really Cost to Be in a Wedding?

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Cost to be in a wedding

I was recently asked to be a bridesmaid in a friend’s wedding. I’ve never been asked before, so I was thrilled. She and I have become extremely close and I was honored. However, I didn’t realize how much it may cost to be in a wedding.

Debt-Free Living and Big Events

Sometimes I’ve found that our goal of being debt-free keeps us from doing things. Many of our friends and family don’t hesitate to swipe a credit card or take out a small loan for just about anything. (Seriously, one friend has $20,000 in credit card debt because traveling is more expensive than financial health).

Oftentimes, this means we turn down invites to go to larger events that may cost more money. We’ve turned down group trips and music festivals, which can run in the hundreds of dollars for a single ticket.

When my friend asked for me to be in her wedding though, I had months to get things ready and didn’t have to worry about swiping a credit card (because we aren’t doing that anymore).

How Much Does It Cost to be in a Wedding?

So far, the wedding will be costing me about $512. That isn’t including any additional money I’ll need during the bachelorette weekend for food, bar entry, etc. It also doesn’t include the wedding gift. When all is said and done, it will probably wind up costing me close to $800 to be a bridesmaid.

After doing some searching, that’s about the average cost for anyone to be a bridesmaid these days (seriously). Of course, I said yes before we had a TON of financial changes in our lives and pulling everything off has not been easy. If you’re thinking about being in a wedding and want to remain debt-free, consider these tips to keep cost low.

  • Be honest about your financial situation. If something is too expensive, speak up about it, but don’t be negative. Come forward with more affordable solutions.
  • Suggest the bridesmaids get different dresses in the same color. This can help you shave down the cost of your personal dress while still having uniformity.
  • Consider skipping out on the spa day and doing some of the beauty items DIY. Do your own hair and makeup. Skip the nail appointment and do them yourself. While it is fun, it isn’t necessary.
  • Stay in an Airbnb. If you’re traveling for the wedding or bachelorette party, stay in an Airbnb. You may even want to consider getting a group together to do so.

Lastly, don’t be afraid to say no. While the bride may be disappointed, if you can’t afford the cost of being a bridesmaid, it isn’t worth the stress you’ll put yourself (and the bride) through.

Readers, have you been part of the wedding party? How much did it cost you? How did you plan for it?

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10 Best States to Live in with a Bad Credit Score

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Where You Can Make the Best of a Bad Credit Situation

10 Best States To Live In With A Bad Credit Score

It’s no fun having a bad credit score. You pay higher interest rates for your credit – if you can get credit at all. You have little room for financial error. A small, unexpected bill can cause big problems.

At least your hardships may not be as bad if you live in certain states.

RewardExpert, a site that helps users optimize credit and debit card reward programs, examined factors that affect residents with poor credit – such as typical expenses, usury laws to limit predatory lending, and the status of debt collectors – and how those factors vary in each state.

Where is bad credit more tolerable? Consumers with bad credit should avoid the coasts and stick to the Midwest – not surprising, given the typically high costs of living in coastal areas.
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