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Throwing an Epic Kids Birthday Bash on a Shoestring Budget? Try These Creative Cost-Saving Tips

March 28, 2024 | Leave a Comment

<p>Your little one's birthday only comes once a year, so you want to make it extra special. But between venue costs, entertainment, food, supplies and more, expenses can quickly spiral out of control. With some creative planning though, you can throw an epic kids' party that feels luxurious without draining your bank account.In this article, we'll explore top tips for celebrating your child's big day in style on a budget. From picking the perfect theme to scoring décor deals, you'll learn how every parent can pull off a pint-sized birthday bash kids will remember forever – without going broke. Let's get this party started!</p>::Pexels

 

 

Planning a Budget Birthday? Check Out These Money-Saving Ideas

 

Your little one’s birthday only comes once a year, so you want to make it extra special. But between venue costs, entertainment, food, supplies and more, expenses can quickly spiral out of control. With some creative planning though, you can throw an epic kids’ party that feels luxurious without draining your bank account.

 

In this article, we’ll explore top tips for celebrating your child’s big day in style on a budget. From picking the perfect theme to scoring décor deals, you’ll learn how every parent can pull off a pint-sized birthday bash kids will remember forever – without going broke. Let’s get this party started!

 

Rockin’ Theme Sets the Stage

A fun theme kicks the party off right while offering direction for decorations and activities. Brainstorm favorites like outer space, under the sea, jungle safari or tie-in children’s movie themes. Visit Pinterest for inspiration on bring any chosen motif to life inexpensively.

 

With basic art supplies, you can craft signs, photo backdrops, confetti cones and garlands to transform any space into a wonderland. Use paint, construction paper, tissue paper and ribbons sourced from the dollar store. That handmade touch makes for an unforgettable party compared to store-bought kits.

 

Cake Hack: Costco to the Rescue

No need to stress perfecting a homemade cake when Costco bakeries make gorgeous, delicious options starting at just $15.99. Their wide selection lets you match any theme from pirates to princesses. A sheet cake easily feeds 30+ guests with money left over versus ordering a specialty cake.

 

Costco’s cakes use quality ingredients for long-lasting freshness, so you can buy up to a week in advance. Let their in-house designers decorate masterpieces that avoid hours of frustrating decorating. Kids only care about devouring sugary goodness anyway!

 

Venue Hunt: Keeping it Local

Finding party space doesn’t have to break the bank either. Start by scouting your own backyard, if weather permits. To add pizzazz, adorn the yard with balloons, streamers and lawn games. For indoor fun, look into nearby community centers or school venues which offer affordably priced party packages.

 

Parks hosting covered picnic areas provide sheltered spots for minimal cost – just review reservation policies. Wherever you celebrate, embracing a venue that simplifies setup makes hosting smoother. Focus time on fun versus logistics!

 

Trim the Guest List

To control headcount and cut overall costs, limit invited guests to your child’s closest friends. For a first birthday, cap the list around 10-15 to keep things manageable yet lively. Get RSVPs early to accurately plan for food, seating and favors. Resist pressure to invite everyone by emphasizing this event is all about celebrating your birthday boy or girl.

 

Dazzle with Budget Décor

Dollar stores are your best friend when it comes to decorations on a dime (Or a dollar). Load up on packs of solid color plastic tablecloths, bundles of balloons, rolls of streamers, and festively patterned plastic plates, cups and utensils. All can be found for just $1-2 per pack.

 

Transform any space through strategic use of these dollar store finds. Mix and match balloons, streamers and plastic banners in the party’s colors. Drape plastic tablecloths over folding tables for instant style. Arrange decorative embellishments like curling ribbon, pom poms, garlands and scene setters.

 

Construct a photo booth backdrop by mounting bold wrapping paper or fabric from the dollar store on cardboard. Craft papier mache shapes of key theme items like rocket ships or flowers using newspaper and flour. Let your creativity shine with budget materials without going broke on store-bought kits.

 

Mix and Match Affordable Eats

Satisfy guests with crowd-pleasing snacks and pizza delivery versus a catered spread. Do your own food prep ahead of time to save money. Slice fruit kabobs, assemble veggie platters with ranch dip, make sandwich wraps and chilled pasta salads. Get creative decorating your own homemade cupcakes instead of splurging on a full custom cake. Hit up Costco or Sam’s Club for trays of cookies and other baked treats at bulk rate deals.

 

Provide juice boxes, bottled water and soda as drinks. For easy self-serve, arrange all food in a buffet style. Set up labeled food stations if hosting outdoors. Doing a potluck with parents pitching in on homemade side dishes and desserts also helps cut catering costs considerably. Get their help with setup and cleanup too!

 

Host High-Energy Fun

Involve kids in active games and crafts that bring the party’s theme to life. For an ocean party, play fish bowl fishing for prizes or hold a sandcastle building contest. Hand out foam aquatic animal hats for kids to decorate themselves.

 

Jungle safari parties could feature limbo, bean bag toss, or making animal masks or binoculars. Use brown paper bags as the mask base and attach cutout eyes, ears and snouts. Space themes offer opportunities for an astronaut training obstacle course or decorating galactic space ship hats.

 

No need to spend on expensive entertainment. Provide inexpensive grab bag favors like bubbles, crayons and small toys to take home. By tapping into creative theme-based activities, you’ll keep young guests engaged without breaking the bank. The birthday child will love celebrating their special day through games designed just for them.

 

DIY Favors on the Cheap

Instead of purchasing trinket favors, make your own utilizing supplies on hand. Fill brown bags with candy, stickers and party hats. Or help kids plant their own seed packets as a nature-inspired gift.

 

Printable coloring sheets and bookmarks require just paper and crayons for hours of entertainment. Handing out playdough or sidewalk chalk lets children get creative. Thoughtful party favors made yourself show guests extra appreciation.

 

Final Thoughts

Pulling off the perfect bash on a budget just takes a bit of resourcefulness. Dazzling décor, activities, food and favors can all be done affordably if planned out.

Follow these tips to make your child’s celebration a memorable one without overspending. The real magic comes from celebrating your little one surrounded by family and friends.

 

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    • Why You Need A Personal Mid-Year Budget Review and 5 Things to Do Now
    • 5 Motivational Hacks to Pay Off Debt

Filed Under: Budgeting Tagged With: birthday on a budget, budget birthday, budget party, costco cakes, Holiday Debt, save money

3 Money Horror Stories That Will Keep You Up At Night

March 21, 2024 | Leave a Comment

<p>As you know, we have been on our own debt-free journey for some time now. My husband and I have come a long way, but before we got together (and even for a while afterwards), we’ve made some pretty awful money mistakes. Here are three stories from my past that still keep me up at night.</p>::Pexels

As you know, we have been on our own debt-free journey for some time now. My husband and I have come a long way, but before we got together (and even for a while afterwards), we’ve made some pretty awful money mistakes. Here are three stories from my past that still keep me up at night.

That Time I Cosigned For A Car

Let’s go back nearly a decade to 2013. At the time, I was living with my boyfriend. We’d been together several years and we combined some of our finances to pay the rent as well as other bills. However, we maintained separate bank accounts and still supported ourselves, for the most part.

That was, until his older car broke down and he needed a new one. His car being out of service hindered me quite a bit – I worked full time and commuted to college, so sharing my car was difficult. So, he went to see about buying something new and I went along with him.

Of course, his credit wasn’t approved for the car and he asked if I’d consider cosigning. Without thinking, I did it. Two years later, after he failed to make payments, the car was repossessed and it remained on my credit for several years. It made it hard for me to get a car on my own and even made it difficult to get approved for housing.

Never again! It still haunts me.

Paying For My Books On Credit

Another past financial decision that I’m occasionally reminded of is applying for an Amazon Credit Card in college. It was a horrible idea. I bought all of my school books on credit through Amazon, but not only that. I was buying anything and everything I could with that credit card. I maxed it out and neglected to pay it on time.

Eventually, my mom helped me pay it off, even though the account was closed. I think about how much debt I was happy to rack up at that time and it’s insane.

Ignoring Bills Until They Go To Collections

At one time, I used to ignore bills that I couldn’t afford and just let them go to collections. It got so bad that, at one time, I had more than $5,000 hanging out in collections. Crazy, right?

Now, I’ve changed a lot of my own personal finance habits to make sure none of these things happen ever again, but…

They still do keep me up at night sometimes.

What are some of your financial horror stories? Share them in the comments below!

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Filed Under: Budgeting

What Happens to My Credit Score When I Pay Off All My Debt?

March 21, 2024 | Leave a Comment

<p>What happens to my credit score when I pay off all my debt?
This question came up in the Our Debt Freedom Family Facebook group recently, and I know a lot of people have the same question when getting out of debt.
So in this article we’re going to be answering the following question:</p>::Pexels
What happens to my credit score when I pay off all my debt?

This question came up in the Our Debt Freedom Family Facebook group recently, and I know a lot of people have the same question when getting out of debt.

So in this article we’re going to be answering the following question:

“How does being debt free affect your credit? We’ll be paying off our debt soon. When we do, we’ll keep our credit cards open, but what will my credit score look like when all the other loans are closed?”

A similar question was asked last year about how your score is affected when you close out one of your old credit cards. I wrote an article in response, and in that article, I went into great detail about how your credit score is calculated and how closing out the card affects your score.

To summarize, the most commonly used credit score is calculated using software created by the Fair Isaac Corporation, also known as FICO. Your FICO® score is determined and weighted by the following five factors:

  • Payment history — approximately 35%
  • Amounts owed — approximately 30%
  • Length of credit history — approximately 15%
  • New credit — approximately 10%
  • Types of credit in use — approximately 10%

If you close out all of your cards, pay off all of your loans, and never use credit again, eventually, the reporting agencies won’t be able to provide a score for you.

However, if you leave your cards open and use them once in awhile and keep them paid off, your credit score is likely to be very high.

In fact, I recently interviewed Christine Odle who paid off $500,000 worth of debt (house and everything) since 2009. She said that she has one credit card that she pays off several times each month, and her score is over 800.

My husband and I also have one credit card that we use and pay off each month (in addition to our mortgage) and our credit scores are over 800, as well. We’ve definitely seen our credit scores increase as our debt total has decreased over the past few years.

My question to anyone else concerned about their credit score is this —

Once you’ve paid everything off, do you plan to use credit again in the future? If not, then it probably won’t have much affect on your life. But if you do, it might be worth using a credit card and paying it off every month to keep that good payment history on your record.

Don’t Pay To Check Your Credit!!!

You used to need to pay to check your credit score.  Don’t do that!!  Instead, get your credit score for free.  Here are four completely free ways to check your credit score.

Annual Credit Report. Federal law says the three credit reporting bureaus must provide customers with a free credit report once per year. Just go to www.annualcreditreport.com and sign up.

Chase’s Credit Journey. Chase will not only provide you access to your credit score, but also gives you a set of great tools to improve your credit score.  It is 100% free to sign up.

Lexis Nexis. Another way to get a free credit report is to get your Lexis Nexis file. The report will have personal information gathered from public records and third party sources. You can get a copy of what information about you they have on file by sending in an application with your ID.

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Keep moving forward toward your goals. You really can live the life you dream about!

Filed Under: Budgeting

How a Side Hustle Helped Melanie Lockert Break Up With Debt

March 21, 2024 | Leave a Comment

Have you considered adding a side hustle to help you break up with debt?

Well, in today’s video, we’ll learn how Melanie Lockert used a side hustle to break up with debt.

If you don’t know Melanie, she’s the personality behind the award-winning blog, DearDebt.com, where she chronicled her journey out of $81,000 in student loan debt. Through her blog, she inspires readers to break up with debt by writing their very own breakup letter to debt.

In 2015, Melanie (and her journey out of debt) was named one of the top five most inspiring personal finance stories of the year by Yahoo! Finance. She currently works as a freelance writer and event planner. Melanie and her work have appeared in Business Insider, The Huffington Post, Yahoo! Finance, INC, and more.

After graduating from college with $23,000 in student loans, Melanie had the opportunity to attend her dream school, NYU, to earn her master’s degree. There, she incurred $58,000 more in student loans for a total of $81,000.

Upon struggling to find a stable, decent-paying job after graduating from NYU, Melanie made some extreme changes in her life to pay off her student loans. In December 2015, Melanie made her last payment and became 100% debt-free.

She is also the author of a brand-new book, “Dear Debt:  A Story About Breaking Up with Debt” which shares her journey and her advice for those in the process of breaking up with debt.

In the interview with Melanie, she shares:

  • What drove her to rid herself of her student loans
  • How she cut her expenses and started side hustling to bring in extra income
  • How her side hustling has led to an unexpected career path
  • Her best advice for how to find a side hustle that’s right for you, and
  • What to do if you want to get out of debt but feel overwhelmed and don’t know where to start

Melanie has an inspiring story that I think anyone struggling with debt needs to hear, and she shares it all in this interview. So here is my interview with Melanie Lockert from deardebt.com. Enjoy!

Thanks again to Melanie for sharing the good, the bad, and the ugly about getting out of debt with us!

[bctt tweet=”How a side hustle helped Melanie Lockert (@DearDebtBlog) break up with debt” username=”MonicaRLouie”]

I hope you pick up her book, “Dear Debt:  A Story About Breaking Up with Debt.” I know it will help you break up with debt once and for all.

I encourage you to check out Melanie’s blog at DearDebt.com and consider writing your own Dear Debt letter to break up with debt.

For others that have got out of debt check out these articles.

How Alice and Scott Paid Off $200,000 of Student Loans in Less Than 7 Years
From Credit Card Debt to Loving Her Money with Sarah Li Cain
How Lauren Greutman, The Recovering Spender, Paid Off $40,000 of Debt

Now I’d love to hear about you!

What did you learn from Melanie’s story? Have you started a side hustle yet so you can break up with debt? Please share in the comments below.

Have you joined our free community yet?

Join me in our private Facebook group called Your Debt Freedom Family, where we’ve got an awesome community of people who are breaking up with debt so they can break free and live life on their terms.

Click here to join the fun!

I’d love to see you there!

Keep moving forward toward your goals. You really can live the life you dream about!

Filed Under: Budgeting

October Update: Searching For Relief

March 21, 2024 | Leave a Comment

<p>If you’ve been keeping up with us recently, you know we’ve had some unexpected expenses, including my being in an upcoming wedding this weekend. We haven’t made any huge progress where our debt freedom is concerned, but we are looking into things that may help us in the near future.</p>::Pexels

If you’ve been keeping up with us recently, you know we’ve had some unexpected expenses, including my being in an upcoming wedding this weekend. We haven’t made any huge progress where our debt freedom is concerned, but we are looking into things that may help us in the near future.

Our Update For October

The last detailed update we provided on the blog was in August and we were completely stalled. We have made some progress since then, but not a ton. In August, the numbers were as follows…

  • My Car Amount Owed: $21,333
  • Drew’s Car Amount Owed: $0
  • Credit Card Total For Both: $483
  • Student Loans (Mine): $24,002
  • Matco/Snap-On: $7,543
  • Amount in Collections: $679

About two months later, we haven’t seen a whole lot of progress. Here are the updated numbers…

  • My Car Amount Owed: $21,302
  • Credit Card Total For Both: $502 (interest is a KILLER, folks)
  • Student Loans: $24,184 (I had this pushed off until the beginning of the year because my husband has been out of work)
  • Matco/Snap-On: $7,449
  • Amount in Collections: $679

If you do the math, you’ll see our overall debt has actually increased to $54,116 from $54,040. Unfortunately, this is due to interest rates and, where my student loan payments are concerned, deferring payments.

Despite us still being stalled in many ways, we’ve both been looking for ways to increase our earnings. As you know, my husband was out of work for a bit. He has gotten more steady work and is beginning to get paid regularly again. I was also lucky enough to score an Instagram influencer gig that will bring in an extra $1,200 later this month. That will all go towards paying off some kind of debt.

IRS Tax Debt

One of the biggest things weighing us down currently is my payment arrangement with the IRS. Because I largely freelance for work, no taxes are withheld and I fell behind . Additionally, I filed for an extension, which is due later this month. This will only add to my IRS bill.

That is SUPER stressful. Right now, I am paying about $129 per month to the IRS. It will increase slightly once I file. I’ve been looking into tax forgiveness programs that may be able to assist us, especially since my husband has been out of work so much within the past couple of years.

Total tax debt forgiveness is a myth, but there are a few options you may want to consider if you’re in a similar situation.

  1. Innocent Spouse – This can give you the ability to claim deniability if your spouse owes a lot of money. It will get you off the hook for the tax bill, but your spouse will still need to pay. This program isn’t for forgiveness but helps ensure the person responsible is the one being billed.
  2. Offer in Compromise (OIC) – An OIC agreement with the IRS can help you decrease the amount you owe significantly. However, not many people qualify for this type of program. Less than 25 percent of those who apply for OIC each year are approved. You also have to provide very detailed information about your finances, which can backfire on you with the IRS.
  3. Currently Not Collectible (CNC) – If you really can’t pay anything back at the moment, you can try to request a CNC. To qualify for this program, you will need to be in a situation that would put you in financial hardship if you made the payments. The IRS will revisit your status after some time though, so you may end up having to pay down the road if you become able. Your tax debt “lives” for 10 years.

I’m not moving forward with any of these options yet. I will be consulting a tax professional, however. My husband and I are hopeful we will be able to get some help from a client of his for next to nothing. He has experience getting people off the hook for their tax bills (or finding more write-offs to make the amount owed much less).

For now, we will continue to have our sites focused on becoming debt-free, including this looming tax debt. Readers, where are you in your debt-free journey? I’d love to hear from you in the comments!

Read More

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Filed Under: Budgeting

Find Out How Texas Was Able To Generate More Electricity Through Windmills This Year

March 21, 2024 | Leave a Comment

<p>A windmill is a structure that converts the energy of wind into rotational energy by means of vanes called sails or blades. Centuries ago, windmills usually were used to mill grain (gristmills), pump water (windpumps), or both, according to an online dictionary. Yes, windmills are a great source of renewable energy. Windmill electricity production does not contribute to air or water pollution so it helps save the environment due to the effects of global warming. Therefore, windmill energy may be the solution to the increasing price of petroleum and gas.</p>::Pexels

A windmill is a structure that converts the energy of wind into rotational energy by means of vanes called sails or blades. Centuries ago, windmills usually were used to mill grain (gristmills), pump water (windpumps), or both, according to an online dictionary. Yes, windmills are a great source of renewable energy. Windmill electricity production does not contribute to air or water pollution so it helps save the environment due to the effects of global warming. Therefore, windmill energy may be the solution to the increasing price of petroleum and gas.

[Read more…]

Filed Under: Budgeting

Affordable Ways to Give Back This Holiday Season

March 21, 2024 | Leave a Comment

Affordable Ways to Give Back This Holiday Season

 

<p>Since the holiday season is in full swing, this is the perfect time to consider giving back to others. Depending on where you are in your journey of becoming debt free this can be really tough. It’s hard to scrap up enough money to put toward your debt let alone donating money to others. Since my kids are getting a little older I want to show them that giving back to the community not only helps them, but it makes us better as well. Helpguide.org states that “Children watch everything you do. By giving back to the community, you show them firsthand how volunteering makes a difference and how good it feels to help other people and animals and enact change.” This is especially true during the holiday season. To show our children that Thanksgiving is more than eating until your pants are about to pop or about what you get from Santa. Sometimes giving your time and talents to others has a larger effect on your financial journey than one would realize.</p>::Pexels
Since the holiday season is in full swing, this is the perfect time to consider giving back to others. Depending on where you are in your journey of becoming debt free this can be really tough. It’s hard to scrap up enough money to put toward your debt let alone donating money to others.

Since my kids are getting a little older I want to show them that giving back to the community not only helps them, but it makes us better as well. Helpguide.org states [Read more…]

Filed Under: Budgeting

Need Cash Now? Why Not Opt For A Cash Advance!

March 21, 2024 | Leave a Comment

Are you in need of quick cash?

Are you worried because you need to pay for your business needs right away?

Well, don’t worry – a cash advance can help you in this situation.

Yes, you can also apply for a loan, but for that, you need to first qualify for the loan and sometimes it can take days and weeks to get it approved. So here’s an easy way out for you, go for a cash advance for your urgent monetary needs.

This easy option for when you need cashnow is being largely used by modern businessmen.

Why, you ask?

Well, let us find out some major benefits of a cash advance that can help you tackle any sort of emergency financial crisis without much problem.

  • Quickly available cash – You get a huge amount of cash that too pretty fast- within a week or so and as stated earlier you do not have to worry about the strict steps before the loan gets approved. For any flourishing company, understanding the value of time is super important and if you have a swift inflow of cash nothing like it…. Your business will surely become pretty successful. In business, the need for cash can arise at any moment and you must be prepared to tackle those situations and cash advance can be very beneficial in this regard.
  • Easy application – You don’t have to run from bank to bank to get quick credit. For the record, applying for a cash advance is super easy and all the steps can be completed online… pretty hassle-free right? Your convenience is important and that’s why the cash advance system was introduced in the first place so that you can enjoy the comfort of your home and manage your business needs by sitting at home. The only thing that you have to ensure is that your business is making a certain amount as far as the ‘future credit card sales’ is considered. This is important because the cash advance provider will be sure that you can pay off the amount or the advance that you have taken. The more your business makes the better for you as you can choose this option for when you need cash easily.
  • Worried about your credit score? Well, don’t be, because you can apply for a cash advance even if your credit score isn’t that lovely. In case of a cash advance, you aren’t actually opting for a loan; instead, your future business credit card sales are being sold in exchange for the capital required immediately for the business which is why no tension of monthly payments for you. In this case, many sellers aren’t actually worried about the credit score that you have so before applying for a cash advance you need not work on your credit score and this is a huge plus point for business owners who are in need for cash immediately. In fact, you will be amazed to know that cash advance can provide a boost to your credit if you are using a cash advance to pay for a debt.
  • Use it for any need – The flexibility that cash advance provides is really beneficial because there are no strict rules on how you must use the money. You can use the money however you want, for any business need that has to be handled, etc. If you compare cash advance with any other loan you’ll easily understand that loans aren’t this flexible plus there are restrictions on how to spend the money and if you agree to the terms and conditions only then you are allowed to apply for the loan.
  • No collateral – You don’t need to worry about risking your assets if you opt for a cash advance, unlike other loans. In case of a cash advance, you are selling a part of your business’s future revenue to the cash advance provider. The matter is quite simple and you don’t have to show your balance sheets or payslips or keep in line any property because there is no scope for your property getting seized.

There are many benefits of cash advance but check all the aspects carefully before opting for this convenient way of getting funds.

Filed Under: Budgeting

Credit Card Options for People With Credit Card Debt

March 21, 2024 | Leave a Comment

<p>Credit card debt can lay a heavy burden on one’s monthly costs and income. Thankfully, there are different solutions that can help you save money. With these solutions, you can consolidate your debt. Consolidation of credit debt involves combining different credit card balances into a single monthly payment with a lower interest rate. </p>::Pexels

Source: Pexels.Com

The Burden of Credit Card Debt 

Credit card debt can lay a heavy burden on one’s monthly costs and income. Thankfully, there are different solutions that can help you save money. With these solutions, you can consolidate your debt. Consolidation of credit debt involves combining different credit card balances into a single monthly payment with a lower interest rate. 

[Read more…]

Filed Under: Budgeting

How to Save Money Buying Real Estate

March 21, 2024 | Leave a Comment

Buying property is never a small investment unless you happen to be a billionaire, but there are many ways to save money in the process. According to Money Under 30, homebuyers should always aim to purchase less home that they can afford to ensure that payments are made regularly and on time.  [Read more…]

Filed Under: Budgeting

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Five Steps To Debt Freedom

Here are five simple guidlines that will help you pay off debt.  

1) Get an emergency fund so you don’t take on debt when something comes up.

2) List your debts. This way you know where you stand.

3) Use the debt snowball. Pay your debts from smallest to largest, or most expensive to least expensive.

4) Avoid new debt. No new credit cards or loans. Period.

5) Go all cash. After everything is paid off, switch to all cash.

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