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Gifts for Debt-Free or Money Conscious Couples

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<p>Valentine’s Day is here once again. Many Americans plan to drop some serious money on the holiday. If you and your partner are money conscious or working towards being debt-free like we are, there are some gifts that can show your love and support. Here are five gifts I love for debt-free or money conscious couples.</p>::Pexels

Valentine’s Day is here once again. Many Americans plan to drop some serious money on the holiday. If you and your partner are money conscious or working towards being debt-free like we are, there are some gifts that can show your love and support. Here are five gifts I love for debt-free or money conscious couples.

Give the Gift of a Money Tree

I’m a certified plant lady – I accrued more than 20 while I was pregnant. One of my favorites is the money tree. The money tree represents wealth and is thought to bring you luck in your finances and/or profession. In some cases, it is believed that the money tree brings about a great sense of well-being and even luxury. Ours hangs out in between our desks in the office. It has brought us a fair amount of luck. Plants like the money tree can be a great gift because they will continue to sprout new growth throughout the year. Not to mention, having plants has been proven to benefit people’s moods and increase happiness. So, it makes a great gift.

Pay for Special Budgeting Tools

There are a lot of paid fintech tools on the market. See if the person you are buying for is currently using the free version of any paid app and pay for a few months or even a year. Typically, paid versions of the app unlock new financial tools and additional help. If they use the app on a regular basis, the change can truly make a difference in their finances to have the paid tools available.

Buy a Financial Planner or Journal

If the person you’re shopping for isn’t necessarily tech-savvy or prefers to write things down, a financial planner or journal may be a good gift option. Personally, I write everything from our budget to financial goals down in a planner. So, each year, I spring for a nice one and use it for the next 365 days. Journaling is also something that can help people on a debt-free journey and, honestly, journaling can be therapeutic. Buying a nice planner or journal can be the perfect gift for someone on a journey of their own.

Purchase Dave Ramsey’s Financial Peace University

This one is a little more expensive than the other gifts listed above, but it is a great gift for money conscious couples. You and your partner can go in on the purchase of the online program together and take the courses. Over the span of the Financial Peace University program, you will both learn more about finance and get on the same page about your money. Giving this kind of gift can draw you two closer together and improve parts of your relationship.  It’s another gift that keeps on giving.

Make a Cash Rose

If money is your love language, make your own cash rose. For this, you decide how much you want to spend. Get the cash together (using small bills is a good idea). Then, watch this YouTube video instruction on making your own cash rose. Your honey will surely appreciate the gesture.

Readers, what do you think of these gift ideas? Do you have any to add?

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How We Paid Off $65,000 of Debt In 11 Months on a Single, Middle Class Income

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Part 3 of a 3-Part Series

My husband and I decided to pay off all of our debt, including our mortgage, as quickly as possible.

We understood it was a huge endeavor and estimated that it would take us about eight years to do, but we knew the feelings of freedom and achievement once we met our goal would be well worth the dedication, sacrifice, and hard work in the end.

As the saying goes, “How do you eat an elephant? One bite at a time.”

We still have a long way to go before we are completely debt free, but in this three-part series, I am taking you through exactly what we did to pay off over $65,000 from August 2013 through June 2014.

Click here for Part 1 and Part 2 if you missed them.

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How to Write a Debt Validation Letter

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<p>Hearing a debt collector on the other end of the line when you pick up can be one of the worst things in the world. There is one thing that tops it though and that is when you don’t recognize the debt you’re being called about. Many people think that they may have forgotten to pay something off and panic, however, the debt may not be valid if it isn’t appearing on your credit report. If that is the case you may need to draft and send a debt validation letter to the collection agency.</p>::Pexels
Hearing a debt collector on the other end of the line when you pick up can be one of the worst things in the world. There is one thing that tops it though and that is when you don’t recognize the debt you’re being called about.

Many people think that they may have forgotten to pay something off and panic, however, the debt may not be valid if it isn’t appearing on your credit report. If that is the case you may need to draft and send a debt validation letter to the collection agency.

What is a Debt Validation Letter?

The Fair Debt Collection Practices Act requires debt collectors to provide you validation of debt within five days of contacting you. It is your right to receive this information. If you do not receive it you can send a debt validation letter to the collection agency. You must send a debt validation letter within 30 days of the initial contact with the collectors though so it is a time-sensitive action.

Who Needs a Debt Validation Letter?

If you’re wondering if you need to send a debt validation letter, ask yourself the following:

Is the debt yours? If the debt isn’t yours you may have had your identity stolen or the debt collectors could have incorrect contact information. Debts that aren’t yours should be reported to the credit bureau directly. A debt validation letter won’t be necessary.

How old is the debt? If the debt is yours, how old is it? It may be past the statue of limitations which will make it no longer appear on your credit report. Collection agencies are also prohibited from asking for payment on any account past its statue of limitations. You will need to write a debt validation letter if that is the case.

A Debt Validation Letter Sample Text

Those who feel they need a debt validation letter will be pleased to know it is a relatively simple task. Every debt validation letter needs to be direct and straight to the point. Below you will find a sample text.

Date



Your Name


Address


City, State Zip



Debt Collector’s Name


Address


City, State Zip


Re: Account Number

To whom it may concern,



I am writing to you in response to (phone call/letter) received by you on (date). Though I am not refusing payment, I am requesting that you provide validation of this debt.



If you do not meet this request, I will file complaint with the Federal Trade Commission and the [your state here] Attorney General’s office and both civil and criminal claims will be pursued.



Sincerely,



Your Name

If you’re interested in paying off debt, check out these great articles: 

How Collectors Should Respond to a Debt Validation Letter

Once you’ve drafted and sent your debt validation letter you’ll wait to hear from the debt collector. All debt collectors must cease attempts to collect debts until your debts have been verified.

Collection agencies are also required to provide specific information to those who ask for validation of their debts. If you are waiting for a response to your debt validation letter, be sure you receive all of the following information:

  • How much you owe
  • The company/name of who you owe
  • A statement giving you 30 days to respond to said debt collection attempt
  • A statement saying that you can dispute the debt for 30 days
  • Information (address, etc) of the original creditor

If you do not receive any more information from the debt collector and continue to receive calls you can pursue criminal and civil claims, as outlined in the sample text. Most of the time if a debt validation letter is sent and there is no response the collector could not verify your debt and dropped the account.

Whatever you do don’t ignore the problem. Ignoring debt collectors and debt in general can hurt your credit score and your overall finances in the long run.

Have you written a debt validation letter? What was the outcome?

Photo: US News

How to Begin Your Binary Options Journey for Those from the UK

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<p>Are you a risk-taker from the United Kingdom? Or do you participate in binary options trading and are interested in trading internationally? There are only a few countries in the world that encourage investing and betting with your finances. Binary options trading is extremely popular in the United Kingdom. This exposure could be associated with the popularity of gaming in the country. Although binary options trading is becoming increasingly popular in the United Kingdom, many traders face the fear of scams.</p>::Pexels

Are you a risk-taker from the United Kingdom? Or do you participate in binary options trading and are interested in trading internationally? There are only a few countries in the world that encourage investing and betting with your finances. Binary options trading is extremely popular in the United Kingdom. This exposure could be associated with the popularity of gaming in the country. Although binary options trading is becoming increasingly popular in the United Kingdom, many traders face the fear of scams.

The key to finding the best platform to begin trading is searching for one with reputable customer service, regulated trading, and a variety of assets. Before trading in the United Kingdom, you can choose to open a trading account. This should be incorporated in the country. Or you can open an account with a broker that is found in Cyprus. It is important to begin your journey with scams, regulations, and methods for depositing on your mind.

Avoiding Fraud

Brokers regulated by the FCA are more closely monitored, so it is recommended to research brokers associated with the FCA to avoid scams. Scams in the UK are reduced because brokerage firms typically have to regularly inform authorities of their activities. This reduces the chances that a scam can occur or that a fraudulent group can become successful.

If you are interested in beginning a journey with binary options trading, then this website is a good place to start.

Regulation

Since gaming is so popular in the United Kingdom, trading is regulated by the gaming commission of the country. Since gaming contracts cannot be enforced in the courts of the United Kingdom, they are monitored by the gaming commission. This commission lacks resources to effectively regulate binary operators. Though there have been movements to change the regulation from being under gaming to being regulated financially instead.

The absence of legal regulations preventing you from working with brokers from other countries allows many UK traders to find success. Firms in Cyprus are regulated, and traders in the UK can work with them because the UK is technically a portion of the European Union. In fact, brokers in Cyprus can use their licenses as a type of passport to serve for traders in the UK. It may be beneficial to begin your binary options trading journey with a broker in Cyprus because you can feel safer with your finances knowing that brokers here are held to higher standards.

Depositing

There are a variety of payment methods that UK residents can use to deposit their trading wins. Credit and debit cards are popular tools to use when depositing money because the funds are deposited right away. Another UK method that is becoming more popular is handling finance funds through eWallets. Because banking in the United Kingdom is reliable and established, traders are also encouraged to handle funds through bank wire transfer. It should be taken into consideration the cost of this though. It is more expensive than using a credit or debit card instead. Depending on your credit rating, your deposit should go through smoothly, but if you do have bad credit, many brokers wont authorize the payment.

Conclusion

While binary options trading is popular in the United Kingdom and expected to continue to make advancements, hopefully increasing safety, it is important to take into consideration scams, regulations, and depositing methods before getting started. You can research the best brokers or resort to Cyprus brokers if you are worried about trading for the first time.

How Changing Your Diet Can Change Your Life

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<p>If you’re a regular visitor of Our Debt Free Family, you know that I am no stranger to trying new, crazy things to save money and lose weight. What if you could do both at the same time? Like me, millions of Americans spend quite a bit of money each year maintaining their mental health. More specifically, warding off depressive episodes. A recent study found changing your diet could help decrease your risk of depression. That’s right, not only does what you eat have a direct impact on your physical health but it can affect you mentally as well. Researchers found that people adhering to the DASH diet are less likely to develop depression. The DASH diet is heavy in fruit, veggies, and whole grains. Depression is one of the most common mental illnesses in the United States. In fact, the health costs associated with depression cost Americans millions of dollars a year.</p>::Pexels

If you’re a regular visitor of Our Debt Free Family, you know that I am no stranger to trying new, crazy things to save money and lose weight. What if you could do both at the same time?

Like me, millions of Americans spend quite a bit of money each year maintaining their mental health. More specifically, warding off depressive episodes. A recent study found changing your diet could help decrease your risk of depression.

That’s right, not only does what you eat have a direct impact on your physical health but it can affect you mentally as well. Researchers found that people adhering to the DASH diet are less likely to develop depression. The DASH diet is heavy in fruit, veggies, and whole grains.

Depression is one of the most common mental illnesses in the United States. In fact, the health costs associated with depression cost Americans millions of dollars a year.

Save Your Life By Changing Your Diet

For many people, controlling their diet may be the secret to saving their life, especially if they are prone to depression. Depression can oftentimes lead to thoughts of suicide and feelings of complete loneliness. Not to mention, adhering to what would be considered an unhealthy diet can cause a number of other health problems too (including heart disease).

You’ll save yourself a ton of stress by eating healthier, and you’ll feel it in your health and your wallet.

Thing to Eat to Maintain Your Health and Finances

So, what should you be eating to maintain your mental, physical, and financial health? Here are a few of my favorite foods that are DASH Diet friendly and super cheap…

Carrots & Celery 

Carrots and celery are two of my favorite snacks. It may sound crazy but both are great dipped in peanut butter and are super cheap. Usually, you can get a bag of baby carrots for $0.99 and celery for a little over $1. So, for less than $3 I’ll have healthy snacks throughout the week. It will help stabilize my mood as well as keep plaque from building up on my teeth, which helps control my dental costs.

Apples

Everyone knows the saying, “An apple a day will keep the doctor away.” Working fruits into your diet will help elevate your mood. Apples are also fairly inexpensive. The national average price of apples is $1.31 per pound.

Bananas

Another great and inexpensive food to work into your diet for mental, physical, and financial health are bananas. Cost wise, they are great (about $0.44 per bunch). Bananas are also rich in potassium and can help you maintain your health.

Unsweetened Applesauce

Unsweetened applesauce is a staple in my kitchen. It is super cheap, contains only natural sugars, and is delicious! You can get a 48-ounce jar of applesauce for less than $2.

Almonds

Almonds are one of the more expensive items on this list but they won’t break the bank. The Dash Diet-approved food is rich in protein and healthy fats. Compared to other types of nuts, they are also cheaper. The average national price of almonds sits around $3 per pound.

 

Sliced Deli Meat

Sliced deli meat is great for snacking and for meals. Places like Aldi sell pre-packaged deli meat for less than $3. Be sure to buy products lower in sodium and fat for health purposes.

Incorporating these inexpensive foods into your diet can help you in three major ways. The first is eating healthy will help you be healthy. This is a simple fact. It will also help you financially. Many people believe dieting means an expensive grocery bill, but it doesn’t have to! Lastly, altering your diet can save you mental stress and potentially reduce your risk of depression.

So, why not start changing your diet today? Introduce some healthy foods into your diet and let us know how it impacts you!

Why Doing Headstands Will Improve My Financial Outlook and More…

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<p>Throughout my entire pregnancy, I practiced yoga. I went to two or three classes every week up until I gave birth and it became something I really enjoyed. I was eager to practice again once my doctor cleared me for physical activity. There were so many awesome poses that I just simply couldn’t do with a nine-month prego belly (and others that just weren’t safe while I was pregnant). So, at the beginning of the year I set up one-on-one yoga sessions with my instructor/friend.</p>::Pexels

Throughout my entire pregnancy, I practiced yoga. I went to two or three classes every week up until I gave birth and it became something I really enjoyed. I was eager to practice again once my doctor cleared me for physical activity. There were so many awesome poses that I just simply couldn’t do with a nine-month prego belly (and others that just weren’t safe while I was pregnant). So, at the beginning of the year I set up one-on-one yoga sessions with my instructor/friend.

My goal for my practice? Headstands. 

Why Headstands?

I’ll preface this by saying I practice with a YogaFaith instructor. My first true goal when I roll out my yoga mat is to get closer to God. I usually bring a Bible verse with me to think about while I hold poses and breathe. This has brought me a lot of peace over the last year or so. My time on my mat is time to spend with Jesus and time to spend with myself.

As I’m sure you know if you have followed the blog for a while, I am a fan of reflecting. Yoga is a chance to do that in a quiet, supportive environment while also working towards a physical goal. For me, my 2022 yoga practice is focused on the idea of grace. One of the verses I’ve been bringing to my practice is this…

Let us then approach God’s throne of grace with confidence, so that we may receive mercy and find grace to help us in our time of need. – Hebrews 4:16

Do I always feel confident or graceful when attempting a pose that demands balance? Absolutely not. There are times I feel like a newborn baby gazelle who can’t use its legs properly. When I lay those insecurities at the feet of Jesus, I can do anything. I am full of His grace.

My First Headstand

I’m about five one-on-one sessions into my practice for the year. I have already made huge strides in what I wanted to do. My balance is improving, the connection between my breath and the way my body moves is there.

What many people don’t realize is that, while yoga does take a certain amount of strength, much of that strength comes from focusing your energy inward. When I put my shoulders into the inverted yoga chair and kicked my legs up for my first assisted headstand, it was amazing! I decided to take that energy and focus and discover other places where it could positively impact my life.

How Headstands Will Help Improve My Finances and Beyond

As I said, doing a headstand takes a lot of focus, but you also have to be extremely self-aware. Your body will always let you know when you should stop when it comes to exercise, stretching, etc. Actually, your body probably let’s you know when to stop other things too, but most of us ignore it. My goal is to listen to that intuition more.

From a financial standpoint, headstands are training me to be more patient, focus on the end goal, and be more aware. Every move I make has an impact on the integrity of my headstand and, potentially, my safety. The same is true of my finances. Every dollar I spend (or don’t save) has an impact on my long-term financial health. The same can be said of my health, relationship, and creative goals.

Take some time to think about what would help you truly focus. Meditation, regular exercise, and even simply journaling can help you make progress. What works for you?

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How to Set a Moving Budget

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Moving Budget
The average American moves about 12 times in their life and, if you’re like me, you hate it! Last year I’ve had to move four (yes, four) times and it has been a trying experience.

From the heavy lifting that is involved in loading up moving trucks to the sheer financial cost of it all, moving can be a real drag. You should be able to take the time and enjoy your new place, right? That got me thinking… What if there was a go-to moving budget to reference before you decided to pack up and leave? You’d have one less thing to worry about during the move and you’ll be able to keep your finances on track.

How to Prepare a Moving Budget

First, you should create a moving budget spreadsheet for yourself.  You’ll want to organize the spreadsheet the way you see fit. I started with labels across the top beginning with bill/item on the far left, estimated cost and maximum cost.

Next you’ll need to break down the bills, moving material and other items you’ll need. Many people don’t think about the little things you’ll need once you move again. Here was my list:

  • Application and administrative fees if you are renting ($50 per application for each person over 18 and up to $200 admin fee at most apartments)
    • If you aren’t renting you will need to plan for down payments, realtor fees, etc.
  • Deposits
    • Apartment deposits can vary based on the development and your credit score. Deposits can range from $0 to first and last month’s rent.
    • You’ll also need to budget for deposits on certain utilities if you do not already have accounts open or that are not included in your monthly payments. (I paid $200 to have electric turned on, $50 for gas and $20 for water.)
    • If you have a pet and plan to move them as well you will also want to plan for a pet deposit and pet fees. Some apartment complexes charge up to $500 deposit as well as a monthly fee and restrict breeds that are permitted on the property.
  • Household Items
    • When you move you’ll want a new shower curtain, which you can get fairly cheap (under $20).
    • You may also want new trash cans. Most people don’t move with their trash or trash cans. Depending on your preferences, this could cost $30+.
    • Toiletries don’t often get moved with their owners. You’ll want to get all new body washes, shampoos, etc. Depending on the size of your family, this could be extremely costly.
    • New food to stock the new fridge. Most people also don’t move any food with them. You’ll want to budget having to buy all those kitchen staples (spices, etc) again. This could double your first week’s grocery budget.
    • Any other supplies that are needed. (I started out completely fresh after my move two weeks ago and will slowly build my apartment one piece at a time.)
  • Moving Truck
    • Get a quote for a moving truck but be sure to have at least twice that much set aside. Most Uhauls and other moving truck services charge a flat fee PLUS mileage. (I ended up paying about $88 for a Uhaul for six hours.)
  • Moving Help
    • You’ll also want to be sure to include moving help in your moving budget. Maybe you have friends that will be willing to help for free (or cheap). That’s usually the best way to go, however, if you’d rather hire a mover you’ll need to make calls, price compare in your area and budget that in as well too.

There’s no doubt that moving can be extremely stressful (for me anyway) but if you are able to plan far enough ahead and write out a solid moving budget you’ll have one less thing to worry about!

When Should You Take On New Debt?

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I bit the bullet and took on some new debt last month. Over a year and a half ago, I sold my 2002 PT Cruiser for $150 in grocery money (seriously). Since then, I’ve been using bike sharing, car sharing, public transportation, and just walking everywhere I’ve needed to go. Last month, I made the decision to buy myself a new car.

I’ve been working on my credit for some time (pulling it up from a 424 to a 650 in one year) and have been contemplating getting a car for myself. My pup has gotten a bit too big for the two-seater Miata my boyfriend and I shared. So, I got a new car in February.

<p>I bit the bullet and took on some new debt last month. Over a year and a half ago, I sold my 2002 PT Cruiser for $150 in grocery money (seriously). Since then, I’ve been using bike sharing, car sharing, public transportation, and just walking everywhere I’ve needed to go. Last month, I made the decision to buy myself a new car. I’ve been working on my credit for some time (pulling it up from a 424 to a 650 in one year) and have been contemplating getting a car for myself. My pup has gotten a bit too big for the two-seater Miata my boyfriend and I shared. So, I got a new car in February. </p>::Pexels

Before doing so, I was overwhelmed with stress and anxiety over pulling out a loan. I worked really hard to pull my credit score up and wouldn’t want a car loan wrecking it.

Questions to Asked Yourself Before Taking on New Debt

This got me thinking. What questions should you ask yourself before taking on new debt? It can be absolutely nerve-wracking. So, here is a list of questions to ask yourself before taking out a new loan or opening a new credit card:

Will taking on the new debt hurt your credit? Don’t take on any new debt that will hurt your current financial situation. Although this seems like a no-brainer, items you want may cloud your judgment. If the new debt will hurt your score, move on.

Can you use cash instead? If you’re able to use cash and avoid taking on new debt although, do so. Sometimes saving for the item, and having delayed gratification, is more rewarding financially.

What are the repayment terms? And are the payments affordable? Identify how much you can afford to pay on your loan or credit card per month. If the new debt is outside what is affordable for you, don’t open the account. You will also want to be sure to read all of the repayment terms and conditions. For instance, make sure you know whether or not there are any fees for paying it off early.

Will the item last beyond the repayment term? This is especially important if you are in the market for a car. Many new cars cost around $20,000. If you pull out a 6-year loan, it isn’t always guaranteed your car will last throughout (or much past) the loan term. Do research about the item you are buying and be sure it is quality. You’ll be paying for it, and using it, for years to come.

Have you compared services offered by other lenders? Is the new debt you are taking on the best interest rate you can get? To make sure, you’ll want to call around and see what types of rates you can receive at other institutions. Be careful though – running your credit too often can hurt you!

When it comes to taking on new debt, nothing should be taken lightly. Be sure you are asking yourself the right questions and answering them honestly. You don’t want to be drowning in debt with no clear way out.

Have you taken on new debt recently? Did you ask yourself these questions?

The Two Things You Must Do Before Getting Started on Your Debt Free Journey

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You’re ready for a change.

You have committed to getting out of debt, but you don’t know where to start, right?

You’re tired of living paycheck to paycheck and seeing your hard-earned money go toward interest to the bank or credit card company.

You bring home a decent income, but before you can actually enjoy what you’ve worked so hard for, you have to pay all of the bills. And what’s left over for you? Not much.

Well, I am here to help!

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