. Debt Reduction – Page 2

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Try This $10000 Biweekly 26 Week Money Challenge to Crush Your Debt

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<p>The Biweekly 26 Weeks Money Challenge is the perfect way to start your savings journey and reach your financial goals. Saving money can be overwhelming for some, but with this challenge, you'll be able to save a significant amount without feeling the pinch. If you haven't done so already, click here to check out our article on the ins and outs of the challenge.</p>::Pexels

 

The Biweekly 26 Weeks Money Challenge is the perfect way to start your savings journey and reach your financial goals. Saving money can be overwhelming for some, but with this challenge, you’ll be able to save a significant amount without feeling the pinch. If you haven’t done so already, to check out our Bi-weekly money challenge article for the ins and outs of the challenge.

 

 

How to Save $10000 Using the Biweekly 26 Week Money Challenge

Saving $10000 using the biweekly 26 week money challenge is easier than you think. If you divide $10,000 by a 26, your answer is rounded to 385. So essentially, you’ll need to save $385 every two weeks to end up with $10,000 at the end of the 12-month period.

There are many different ways to approach reaching your goal of $10,000. The key parts of the 26 week savings challenge are your initial investment amount and the increments in which you add to your savings every two weeks. Use this free printable biweekly 26 week money challenge PDF to log your progress. Here are the steps to reach your goal:

Option 1:

Start with savings of $265 for the first period.

You will use increments of $10 every two weeks. So for the next 2-week period, you’ll add $275 ($265 + $10) to your savings.

The next 2-week period you’ll add $285 ($275 + $10) to your savings.

Continue this process for 26 2-week period and you’ll find yourself with $10,140 in a year.

 

Option 2:

Start with savings of $350  for the first period.

You will use increments of $3 every two weeks. So for the next 2-week period, you’ll add $353 ($350 + $3) to your savings.

The next 2-week period you’ll add $356 ($353 + $3) to your savings.

Continue this process for 26 2-week period and you’ll find yourself with $10,075 in a year.

 

How to Save $5000 Using the Biweekly 26 Week Money Challenge 

A goal of 0$10000 may be a bit much for our first time at the challenge If your salary or debt reduction plans only allow for a more conservative challenge, don’t be discouraged. Try this method to make $5000 using biweekly 26 week savings challenge.

Option 1:

Start with savings of $155 for the first period.

You will use increments of $3 every 2 weeks. So for the next 2-week period, you’ll add $158 ($155 + $3) to your savings.

The next 2-week period you’ll add $161 ($158 + $3) to your savings.

Continue this process for 26 2-week period and you’ll find yourself with an extra $5,005 in a year.

 

Option 2:

Start with savings of $93 for the first period.

You will use increments of $8 every two weeks. So for the next 2-week period, you’ll add $101 ($93 + $8) to your savings.

The next 2-week period you’ll add $109 ($101 + $8) to your savings.

Continue this process for 26 2-week period and you’ll find yourself with an extra $5,018 in a year.

 

 

Tracking Your Progress and Staying Motivated

Tracking your progress is essential to staying motivated and accountable during the 26 Week Money Challenge. Here are a few ways to track your savings and stay on top of your progress:

 

  • Savings Tracker Apps: Use a savings tracker app to monitor your savings and track your progress. These apps often have features that allow you to set savings goals, customize your savings plan, and visualize your progress.

 

  • Paper Tracker: If you prefer a more hands-on approach, create a paper tracker. This can be as simple as a calendar where you mark off each week as you save. Seeing your progress on paper can be incredibly motivating. Use our free printable biweekly 26 week money challenge PDF

 

  • Visual Representation: Create a visual representation of your savings goal. For example, if you’re saving for a vacation, create a vision board with pictures of your dream destination. Place it somewhere visible to remind yourself of your goal.

 

Common Mistakes to Avoid During The Biweekly 26 Week Savings Challenge

While the 52 Week Money Challenge is a fantastic savings strategy, there are a few common mistakes that you should be aware of to ensure your success:

  • Carelessly Skipping Weeks or Pay Periods: Avoid skipping weeks or falling behind on your savings. Consistency is key to building momentum and reaching your savings goal.

 

  • Not Adjusting for Budget Changes: Life happens, and your budget may change throughout the year. Do your best to avoid payday loans with extremely high interest rates. Make sure to adjust your allocation if necessary to accommodate any financial changes. Pay off any debt that may be negatively affecting you credit score. Self Inc is a great tool to build your credit while creating a savings next egg.

 

  • Not Playing Catch-up: If you get off track due to budget changes or any unforeseen circumstances, make every effort to catch up with your saving and continue on your journey to $5,000 or $10,000. There are a large number of side hustle opportunities out there if you’re lookin for extra funds to add to your savings. For examples, you can get paid to write articles and blog posts or even testing apps and writing reviews.

 

  • Dipping into the Savings: Resist the temptation to dip into your savings for non-essential purchases. Remember your goals and stay committed to the challenge.

 

  • Not Celebrating Milestones: Celebrate your savings milestones along the way. Recognize and reward yourself for your progress to keep motivation high.

 

Whether you’re saving for a dream vacation, a down payment on a house, or simply want to boost your emergency fund, this challenge is a fantastic way to kickstart your savings journey. Opening a Webull account and using your savings to earn dividends on your favorite stocks is another great way to put it to use. If you need help building credit while building a savings nest egg, check out our Self Lender review.

 

If you’re looking to add even more wealth in the form of interest to your 26 week savings plan, check out Raisin for single sign on access to FDIC insured institutions offering high-yield interest rates above 5%.  I like Raisin.com for its easy to use interface and access to multiple institutions to diversify your funds without creating multiple accounts across different banks. There is also no penalty for removing your funds early. Visit Raisin and enter my referral code earlm014354 to earn up to $125 in bonus cash when you sign up and meet the deposit requirements.

 

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Top Debt Reduction & Financial Management Books

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Top Debt Reduction & Financial Management Books

 

# Cover Book & Details Link
1 The Total Money Makeover cover The Total Money Makeover
Dave Ramsey
Rating: ★★★★★ 4.7 avg
Highlights: Build a $1,000 starter emergency fund, pay off debts with the snowball method, save 3–6 months of expenses, then invest 15% for retirement. Behavior-first, step-by-step plan.		 See on Amazon
2 Your Money or Your Life cover Your Money or Your Life
Vicki Robin & Joe Dominguez
Rating: ★★★★☆ 4.6 avg
Highlights: Track every dollar, calculate your real hourly wage, align spending with values, and use a nine-step framework to widen the gap between income and expenses toward financial independence.		 See on Amazon
3 I Will Teach You to Be Rich cover I Will Teach You to Be Rich
Ramit Sethi
Rating: ★★★★★ 4.7 avg
Highlights: Build an automated money system for bills, saving, and investing. Use a conscious spending plan for guilt‑free purchases and negotiation scripts to cut fees and interest rates.		 See on Amazon
4 The Simple Path to Wealth cover The Simple Path to Wealth
JL Collins
Rating: ★★★★★ 4.8 avg
Highlights: Spend less than you earn, avoid debt, and invest the surplus in broad, low‑cost index funds. Keep costs low, stay the course, and build “F‑You Money” for security and freedom.		 See on Amazon
5 The Psychology of Money cover The Psychology of Money
Morgan Housel
Rating: ★★★★★ 4.8 avg
Highlights: Money success is mostly behavior: humility, patience, and avoiding catastrophic losses. Let compounding work and aim to be reasonable rather than perfectly rational.		 See on Amazon
6 The Automatic Millionaire cover The Automatic Millionaire
David Bach
Rating: ★★★★☆ 4.6 avg
Highlights: Pay yourself first, automatically. Small, steady contributions into retirement and savings accounts compound over time, removing willpower from the process.		 See on Amazon
7 The Bogleheads’ Guide to Investing cover The Bogleheads’ Guide to Investing
Taylor Larimore, Mel Lindauer & Michael LeBoeuf
Rating: ★★★★★ 4.7 avg
Highlights: Diversify with low‑cost index funds, choose an asset allocation you can live with, rebalance occasionally, and avoid market timing and high fees.		 See on Amazon
8 The Millionaire Next Door cover The Millionaire Next Door
Thomas J. Stanley & William D. Danko
Rating: ★★★★☆ 4.6 avg
Highlights: Research shows many millionaires are quiet savers: they live below their means, avoid status spending, and channel income into assets for decades.		 See on Amazon
9 Set for Life cover Set for Life
Scott Trench
Rating: ★★★★☆ 4.6 avg
Highlights: Drive a high savings rate, grow income, and use big‑win tactics—like house hacking and controlled housing costs—to move from stability to security to independence.		 See on Amazon
10 Smart Couples Finish Rich cover Smart Couples Finish Rich
David Bach
Rating: ★★★★☆ 4.6 avg
Highlights: Create a shared money vision, automate saving and investing together, and cover retirement, insurance, and estate planning with clear, repeatable steps.		 See on Amazon

Disclosure: As an Amazon Associate I earn from qualifying purchases. Prices and ratings change frequently; check Amazon for the latest details.

 

ClickCashGo Review: Should You Avoid At All Costs?

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<p>ClickCashGo Review</p>::Pexels

 

 

Legit or Scam? Examining ClickCashGo’s Credibility

 

Sometimes we get in a tight spot and need money immediately for a one-time emergency or to simply to put food on the table. That has many people looking to bad credit loans and cash advances to help them get by in today’s economy. ClickCashGo is a marketplace to put people in touch with bad-credit loan service providers. Is it a good option for you if you’re in need of cash right now? Here is my honest ClickCashGo review.

What is ClickCashGo?

ClickCashGo.com is a loan marketplace that puts people with bad credit in touch with lenders. Because the site is geared towards people with bad credit, credit checks aren’t always necessary. However, interest rates can be extremely higher on many of these high risk credit loans.

The site is designed to help match people with small personal loans and other types of financing. Purposes for financing can vary widely and can be as little as $500. Here are the requirements for loan consideration:

  • Be at least 18 years old
  • A United States citizen
  • Steady source of income (no exact amount disclosed)
  • Have a bank account with direct deposit
  • Credit rating from good to poor

You also won’t be able to submit information to ClickCashGo if you are located in my state (Georgia) or any of the following states:

  • Arizona
  • Arkansas
  • Massachusetts
  • New York
  • Ohio
  • Pennsylvania
  • West Virginia

My ClickCashGo Review

Personally, ClickCashGo isn’t something I would ever use myself. There is no reason my husband or I would look into a high-interest payday loan or cash advance.  If I was looking for a loan today and my credit worthiness limited my options, would ClickCashGo.com be a good option?

ClickCashGo is a site that puts you in connection with loan service providers. While it is not the provider itself, it collects information and passes it to lenders who may be willing to take on your risk.  For people with bad credit, ClickCashGo, or Click Cash Go as some might prefer to it as, can find loans that can cater to your specific needs (up to $35,000). The unfortunate element here is that ClickCashGo.com does partner with some not-so-great lenders. Interest rates on loans through the marketplace can run from 3.99% up to 35.99%. I wouldn’t hold my breath on anything close to 3.99%.

Thankfully, you are not obligated to pay anything unless you accept the term agreement. If you do not accept, you will not be held responsible for payments. If you’re not clear on the terms, seek legal assistance from someone or an entity that has your best interest at heart.

Click Cash Go Contact Information

As you navigate the webpage, you’ll notice it is missing a “Contact Us” section. For a company that initially requires your SSN to conduct business, it is surprising that there is not a simple means to contact an actual representative to answers questions and address concerns. A contact phone number is asking too much. But there is in fact a way reach the marketing team behind ClickCashGo.com.

If you scroll to the bottom of the FAQ section of the webpage, you’ll find an email address and mailing information which can be used to contact Dynomite Marketing, and yes, that is the correct spelling. For even more contact information, navigate to dynomitymarketing.com and you will find their telephone number (1-888-342-0007) and additional email addresses.

 

A General Note on Transparency

When you look at other ClickCashGo.com reviews posted online, most outlets note transparency being an issue. Some sites have the service as low as three out of 10 stars for transparency. In many cases, this is due to the terms not being very clear. This website itself is extremely basic with not much contact information on the business itself. To make matters worse, the service uses a sneaky tactic to collect your personal information.

Even if you decide to stop here due to cold feet or second thoughts due to privacy concerns, ClickCashGo now has your address, name, email address, and phone number to be used as they please.  ClickCashGo may also give your information out to loan service providers which my lead to predatory practices even if you’re denied a loan. While an questionable business practice, it doesn’t mean that ClickCashGo is a scam.

 

Is Your Low Credit Score Holding You Back?

High interest rate loans are directly tied to your credit score and payment history. Self Inc offers a Credit Builder Account which allows you to build your savings and credit score at the same time by reporting your monthly deposits to the 3 big credit bureaus; Equifax, Experian, and TransUnion. The average user who make on time payments can expect to see a credit score increase of 49 points. 

 

Conclusion

When it comes down to it, ClickCashGo is legit, but still a payday loan and/or cash advance service. Unless it is absolutely necessary, these types of loans should be avoided at all costs. Not only do they come with a much higher interest rate, but they will keep you in the mindset that living with debt is simply a part of life. If you’ve ran out of options, it’s still ok to shop around and try to find lenders to beat your last offer.

To truly further your own debt freedom goals, make loans like this mentally not an option. This will help keep you from falling victim to predatory lending or picking up unneeded debts along the way. Here are 4 daily habits to keep you motivated and put a dent in your debt.

 

Is There a “Best” Way to Pay Off Debt?

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<p>When it comes to paying off debt there are a lot of people that insist one method is better than another. Some people focus on the debt snowball or avalanche method. Others tend to have more success with consolidating. Is there a “best way to pay off debt?”</p>::Pexels

When it comes to paying off debt there are a lot of people that insist one method is better than another. Some people focus on the debt snowball or avalanche method. Others tend to have more success with consolidating. Is there a “best way to pay off debt?”

Personal Finance is Personal

In short, no. There are methods that many people have found to be successful for them in their own personal debt freedom journies. At the end of the day, personal finance is personal. You have to find what will work for you and improve your financial situation. Not everyone will be motivated by paying things off slowly, so the avalanche method may be best. Others need to lower their immediate monthly payments to improve their quality of life. For them, consolidating may make the most sense.

The key to figuring out the best way to pay off debt for you will be addressing your current needs and identifying a method that will meet those needs. You won’t have success if you simply follow someone else’s plan. There is a need to alter different methods to fit your family’s needs.

What is the Best Way to Pay Off Debt?

As mentioned above, there is no “one size fits all” to paying off debt. However, there are some tried-and-true methods that have seemed to work for a lot of people. Of course, you’ll need to tweak each of them to cater to your specific needs, but here are some of the best debt payoff methods.

  • Consolidation: This involves taking out a larger loan and consolidating all of your debts into fewer payments. For instance, we would take out a $40,000 loan and pay off our car, student loans, and other small debt. Then we would have one monthly payment on the $40K loan. This can free up money month-to-month to make your immediate financial situation a bit easier.
  • Dave Ramsey: Dave Ramsey’s method of paying off debt is fairly rigid but it has worked for a lot of people. You need to be extremely strict and focus all of your finances on paying off debt. Once that is complete, you have more money freed up to do the things you want. For some individuals, this is great, but it is difficult. You have to go without a lot of things to make debt payoff your #1 priority without putting money towards anything else.
  • Debt snowball: The debt snowball is one of the more popular methods. This method focuses on paying off specific debts all at once, usually in numerical order (by the amount owed or interest). When you use the debt snowball method, you’ll pay off your smallest debt first and then climb up to paying your largest debt off, while maintaining minimum payments on your other accounts.
  • Debt avalanche: Similar to the debt snowball, the debt avalanche takes large sums of money you receive and puts it towards paying off your debt. So, if you get a work bonus, it would go towards paying off one of your accounts. Any windfall you get would go towards one of your debts.
  • Settlement: Sometimes, the best way to pay off debt is to go through a settlement company. If your debts are too overwhelming or you simply can make the minimum payment, communicating with the company is your best option. You won’t hurt your credit as much and the account will be taken off your plate.

Before you choose what the best way to pay off debt will be for your family be sure you consider your budget, needs, and savings. Again, personal finance is personal so treat your debt payoff plan that way too!

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The Great Debate: Dip Into the Emergency Fund or Take on New Debt?

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<p>In a “debt freedom” community, it is hard to ever feel good about taking on new debt. I cringe at the idea of adding anything onto our current payments, but an emergency has happened. Now we are finding ourselves wondering, should we bottom out our emergency fund or take on new debt?</p>::Pexels

In a “debt freedom” community, it is hard to ever feel good about taking on new debt. I cringe at the idea of adding anything onto our current payments, but an emergency has happened. Now we are finding ourselves wondering, should we bottom out our emergency fund or take on new debt?

Cons of Dipping Into the EF

We recently moved to Atlanta from Charlotte, which costed a bit more than we anticipated. Because we are far from our family and friends, our main goal was to pad our emergency fund and leave it there. If anything happens, we can no longer call someone to come help. We have to rely on ourselves 100 percent.

That being said, after a visit with the dentist, I need all four of my wisdom teeth out. The bottom two are threatening my ability to breathe and the top two are causing my sinuses to swell (it is becoming an emergency). I got antibiotics, which helped the swelling but I need to have oral surgery.

We don’t have health insurance yet from my husband’s new job, and we don’t know if purchasing it will be worth the money honestly. So, for this, I have to pay out of pocket. After doing some research, I realized this will likely cost between $800 and $1,000 (our entire emergency fund).

While I don’t really want to take on new debt, dipping into our emergency fund would make us both pretty uneasy. We’d have nothing to fall back on.

To Take on New Debt or Not…

After chatting with the oral surgeon, I inquired about a possible payment plan. They don’t do anything in-house but I could apply for a Care Credit Card. The words “credit card” send chills up my spine, but if it made it possible for us to have peace of mind, I think it would be worth it.

Now, I have to be approved for the credit (which is up in the air), but if it is paid in full within six months, I’ll pay zero interest. Paying $800-$1,000 in six months will be no issue for us, but adding another thing to pay each month is causing some anxiety.

When it comes down to it, if I’m approved, we will go the payment route, even though it means taking on new debt. Sometimes peace of mind and your health come before your financial goals. We’ll come to terms with that.

Have you had to take on new debt for an emergency? 

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Financial Infidelity Is Real! Make Sure You’re Not Doing It

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Financial Infidelity Pinterest image - Our Debt Free Family

I came across a post recently that talked about committing financial infidelity. The blog post mainly focused on one person’s story, but I got to thinking about my past relationships, my current marriage, and what kind of infidelity of experienced – and committed – financially. It was a toe-stepper.

What Is Financial Infidelity?

According to Investopedia, the official definition for financial infidelity is this: it occurs when couples with combined finances lie to each other about money. Simple enough! This could mean anything from using joint funds to physically cheat, hiding money in a separate account, covering up debt, or spending crazy amounts of money on personal items.

Marketwatch Discusses How To Mend Wrongdoings

Many of my recent posts have been reflective (it’s just that time of year for me). However, after reading the post on Marketwatch about this person’s admitted financial infidelity. Here is a clip from the post:

I have committed financial infidelity. This is a second marriage, and one of my sons is unstable and a substance user. He has stolen from us in the past, and two of his children are now living with him.

He doesn’t work, is on public assistance, and demands money from me. He gets very abusive when I don’t give it to him. This is the second time I have gone into debt behind my husband’s back.

They go on to share that, in order to help their child, they have racked up $50,000 in credit card debt that their spouse doesn’t know about. While I haven’t had anything exactly like that happen to me, I have experienced financial infidelity in my life.

My Experiences With Financial Infidelity

On my end, I have committed this plenty before getting together with my husband. I did not communicate about financial transactions, hid money away for a get away, and spent $400 on a painting because I felt entitled to the money in the joint account. All of this without permission, without consent.

Prior to meeting my husband, I was living with a long-time boyfriend. We had combined a lot of our finances, but we were never married (something I’ve learned from). Throughout our relationship, he hid money and spent money on various inappropriate things while I struggled to pay our rent while waiting tables, working a catering job, and going to school full-time. Many times, he lied to me about having money and I would have to ask friends or family, only to find out he had money all along.

He also had me co-sign on a car loan for him and when he failed to make the payments, he allowed them to repossess the car and drove mine into the ground. It is crazy how different my financial relationship with my husband is. We’ve never committed financial infidelity, and there are things you can do to avoid it.

How To Avoid Doing ‘It’

The biggest thing we do in our marriage to ensure these things don’t happen is we communicate about everything, especially when it is money related. Now, it is a little less strict than it used to be because we have more cashflow in our home. So, smaller purchases didn’t need to be talked about. However, when we first got together, there were times we had to discuss a $10 purchase.

These days, we don’t have to talk about every little thing we buy, but we discuss big purchases – even gifts. Sometimes, we still catch each other checking with the other person about a $20 spend even though it isn’t necessary. This is because communication is key to success in your marriage and with your finances.

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5 Side Jobs That Can Help You Get Out of Debt

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American is said to be the land of the free.

It’s also the land of the indebted.

The average consumer debt per capita stacks up to nearly $12,000. Altogether, that same source reveals how consumer debt amounted to a staggering $3.9 trillion by the end of 2018!

Clearly, countless households around the country are held captive by their finances.

Debt is a slippery slope. It’s all too easy to take on more of it to try and dig your way out. A simpler solution may be to get focused and get another job.

But what could you do? Read on to discover 5 side jobs that can help you get out of debt.

1. Virtual Assistant

Got a knack for administrative work?

Then why not take your skills online? Many businesses and individuals are outsourcing their admin to people online. All you need in an internet connection.

As a virtual assistant, you can expect a range of roles. From managing social media accounts to answering emails and doing research, it depends entirely on the needs of the client.

Expect mundane, tedious work, but regular payments! The more clients you get, the more money coming your way.

2. Tutor

Have you thought about teaching your way out of debt?

You don’t necessarily need to be an expert on anything. A bit of passion, a dose of enthusiasm, and a splash of insight, is often more than enough to make you a great tutor.

You could spend your evening tutoring on particular subjects. Paid by the hour, you can even do it online these days. Keep track of your payments with paystubcreator.net.

3. Start a Blog

Blogging is hard work.

But once you’ve learned the ropes and have yours set up, you can earn a steady stream of income from it. Expect it to take a while. But it’s a business model that takes nothing but time (and a bit of cash) to get set up.

From there, with advertising and affiliate marketing, you can say hello to passive cash coming your way.

4. Dog Walker

Dog walking is a popular side job all over the globe.

For one, it’s easy to get into.

You also get to hang out with man’s best friend, get outside and earn decent money in the process. Many people simply don’t have time to give their dogs enough exercise.

Advertise your services, develop a client base, and you can be doing it for them.

5. Hospitality

You may balk at the idea of hospitality.

All those forced smiles and customer-focused approach…It can be tiresome. But they’re also widely available positions that require no qualifications or experience to start with. A friendly demeanor and hard-working approach are all you need.

Apply to bars, cafes, restaurants, and hotels to see what’s going in your neighborhood.

Time to Get Out of Debt

There you have it: 5 side jobs to help you get out of debt without too much trouble.

Millions of Americans across the country are struggling with crippling debt. It’s all too tempting to buckle under the pressure and go into more debt to pay off existing loans. If at all possible, don’t do it!

Getting a second job may be a much better approach. Hopefully, the side jobs we’ve highlighted here have given you some ideas on what you could do.

Like this piece? Need some incentives? Click here to read why being debt free is so awesome.

Do You Need an Online Course to Improve Your Finances?

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<p>If you are someone who is trying to improve their finances, you know there are a plethora of online courses you can take. Each one of them claims to be able to help you fix your money situation overnight or “give you the tools you need to reach financial freedom.” With all of the free information out there today, it is hard to believe they are providing anything that a Google search can’t. So, do you really need an online course to improve your finances?</p>::Pexels

If you are someone who is trying to improve their finances, you know there are a plethora of online courses you can take. Each one of them claims to be able to help you fix your money situation overnight or “give you the tools you need to reach financial freedom.” With all of the free information out there today, it is hard to believe they are providing anything that a Google search can’t. So, do you really need an online course to improve your finances?

Popular Online Finance Courses

We recently talked about Dave Ramsey vs. the rest of the personal finance influencer community. However, despite him not being super popular with a select group of people, his “Financial Peace University” course is one of the best-selling online finance classes out there today. It is also one of the most straight-forward courses available. He provides pretty basic PF advice and then helps you implement those changes in your life.

 

The Perks of Buying an Online Course

One of the biggest perks of purchasing an online personal finance course is that you typically get hands-on help and advice. Usually, these programs provide you with a counselor or mentor to help you with your money habits. Then you are assigned “homework” to look over and take action with your own finances.

Having someone to check-in with who knows what they are doing can be extremely helpful, especially if you struggle with the basics (budgeting, tracking spending, saving money, etc.). At the same time, you will be getting the knowledge and tools you need to be able to manage things on your own.

Do You Need One?

Anyone considering a paid course should take a few things into consideration before moving forward.

  1. Can you truly afford the class? Putting yourself in a bad spot financially to purchase an online class isn’t the best idea.
  2. Is the person selling the course reputable? You don’t want to give someone money for an online course when they don’t have any credentials to back up the information they are providing. Look for testimonials and read about the course’s history.
  3. Have you tried looking for free information? Search for the info you are looking for online before spending money on a course.

Lastly, remember that your financial journey may not look like someone else’s. There is no “one size fits all” financial plan. Any course selling that should be avoided.

Readers, have you taken any financial courses that you have benefited from? I’d love to hear about them in the comments!

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’13 Reasons Why’ Being Debt Free is Awesome (and I Can’t Wait for It)

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Being debt free is awesome

Debt freedom. Those two words literally make me grin ear-to-ear, and who wouldn’t? Can you imagine what your life will be like once you’re no longer being crushed under credit card bills and car notes? Here are 13 reasons why being debt free is awesome (and I can’t wait to get there).

13 Reasons Why Being Debt Free is Awesome

Although I haven’t gotten there (yet), I’ve heard plenty of people talk about how great it feels to have the heavy burden of debt lifted off your shoulders. Here are a few reasons why it feels so awesome…

1. You are free to truly live.

When you aren’t bogged down with your finances you are free to enjoy other things in life. Maybe the stress of your debt made it impossible to go on vacation or practice good self-care. Without debt, you’ll have the ability to do what you want to do when you want to do it.

2. You feel accomplished.

Most people who have accomplished the feat of debt freedom say there’s nothing else like it in the world. Once you’ve paid off your last account, the sense of accomplishment is astounding. It is enough to boost your self-esteem and help you gain confidence where your money is concerned.

3. Being debt free strengthens your marriage and relationships.

This is especially true if you worked on being debt free with someone. For instance, my husband and I are working together on our debt-free goal. At the end of this journey, we will come out stronger (and avoid debt like the plague).

4. You’ll have more money.

When you’re not paying on your credit cards or other debts every month you’ll have more cash flow. At first, it is important to take this extra cash and fully fund your emergency savings (3-6 months of expenses). After that, you can spend freely, invest, and build wealth.

5. Debt free folks have more fun.

It is true! You’ll be able to take that vacation you’ve been postponing without worrying about being able to pay the bills. Not to mention, you won’t have to check your bank account before you go out with friends. You can have peace of mind where your finances are concerned.

6. The feeling of financial security increases.

Being debt free is awesome because it makes you feel more secure in almost every aspect of your life. Financial security increases, security within relationships, and feelings about yourself all become more positive.

7. You can make changes you’ve been wanting.

Many people who become debt free find themselves changing jobs or moving once they’ve reached their financial goal. If you’ve been putting off going after your dream job or moving to the beach, becoming debt free can help you make those changes.

8. Now you have the opportunity to build wealth.

Now that your debt isn’t weighing you down you have the opportunity to begin saving, investing, and building wealth.

9. Maybe you can retire early!

While you’re building wealth, you’ll also be building your retirement fund. Most people who become debt free early on find they are able to retire early.

10. There are fewer risks and more peace of mind.

When you’re holding on to a lot of debt there is always something worrying you. With less liability hanging over your head you’ll have peace of mind.

11. Your stress levels will drop significantly.

Because of the peace of mind you’ll receive from being debt free, your stress levels will drop. You won’t be biting your nails over the next credit card bill or whether or not your car is going to be repossessed.

12. Being debt free is awesome for your mental health.

All of this has a profound impact on your overall mental health as well. Many people find they are no longer depressed, have more energy, and feel happier. (Remember, debt is not a death sentence.)

13. You’ll be able to live your best life being debt free.

When all is said and done, paying off your debt will free you up to live the best life you possibly can. You will have the freedom to do whatever it is you want to do (within reason, obviously). Take the trip you’ve always wanted, send your kids to college, retire early, and live the way you want to.

For those that are already debt free, what is your favorite part about it? 

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Debt-Free and Bored: How to Manage Life After Debt Freedom

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debt-free and bored

You are probably still daydreaming about what it might be like to be debt-free. Surprisingly, many of the people I chat with once they reach financial freedom, find it a bit boring. That is usually the case with reaching a goal. What does the villain do once he or she finally conquers or destroy the planet? Here are a few things to consider if you’re debt-free and bored already.

What it Means to be Debt-Free and Bored

You may be thinking, “how can you be bored with being debt-free,” but it is possible! The road to debt freedom is anything but boring, it may even be exciting once you get the flow going. So, once you pay everything off, some individuals find themselves wondering, what next? You dedicated your time, energy, and made sacrifices to one day not have the heavy burden of debt over your head. But now you suffer from boredom or feeling empty because in your unconscious mind, you naturally miss the challenge and constraints because it became part of your life.

Many people actually slip back into debt at this point (almost as if they are looking for another financial challenge). They’ll begin doing things they never would have done before paying things off. So, why now? We could get into neuroscience, dopamine, biochemicals, and how the brain respond to sudden changes that reduces stimulation, but to keep this on the surface, you’re simply bored and looking for another rush.

Financial freedom is a great feeling but it also removes structure from the financial management aspect of your life if you’re not naturally good with money. When doubling down and budgeting to pay off debt, you knew where where funds were being allocated and typically have a few problems to solve. But, once you’re debt-free, things can get a little boring after a while. You may now start wondering if you could now finally afford that new vehicle or vacation. There is nothing fun on your credit report to look at, and you start to get an itch. What you’re doing here is looking for activities fill the void left after destroying your debt.

How to Remain Debt-Free and Feel Excited

If you want to stay debt-free without the urge to accumulate unnecessary and uncontrollable debt, it can be difficult.  Here are a few things you can do if you find yourself debt-free and bored…

  1. Plan something you have to save for. Whether it is a vacation or a new car, you can always find something exciting to save up for. If not having a new financial issue to solve is the problem, finding a reason to save can help with your boredom and return to a more frugal mindset.
  2. Try your hand at real estate. If you don’t know where to start, check out currently discount courses from renowned author and real estate investor Robert Kiyosaki.
  3. Become an even smarter shopper. There are tons of freebies and great deals to take advantage of in the credit card points and airline mileage space. The Chase Freedom Unlimited is my favorite no annual free credit card. You can earn a $200 bonus after you spend $500 on purchases in the first 3 months. Simply use the card to cover your everyday purchases and you’re well on your way to pocketing $200. Click here to view all the benefits and sign up today.
  4. Take on DIY projects. Homeowners can take advantage of the freed-up cash they have from paying off their debts to make some improvements around their home. Maybe not that dream bathtub you’ve always wanted or  a full kitchen rehab, but small beautification projects and updates within budget can bring on a renewed feeling of accomplishment.
  5. Invest. Generally, once you’ve paid off your debt, you can start looking at different ways to invest and to accumulate wealth. The stock market can be an exciting rollercoaster ride if you’re feeling bored and need a new challenge.
  6. Bet on yourself. Maybe you’ve always wanted to quit your job and travel or start your own business. Without any debt attached to your name, you can bet on yourself. Take some of that extra cash and put it towards your next adventure, whatever it may be. Start a website or a blog.
  7. Donate. Now that you can, responsibly donate some of your money to good causes. Take time out of your day to volunteer your time assisting the needy. Help a loved on or even strangers struggling with their debt. Tell your story to others and provide inspiration.
  8. Find new challenges in life. You aren’t bored because you’re debt free, you’re bored because your brain crave a new focus. You placed all your eggs in the debt reduction basket and now have no use for it as you’ve reached your goal. Try a 26-week savings challenge that could make you $10,000 richer in 26 or 52 weeks depending on your allocation.
  9. Cash Free Debt Free. As the term suggests, one of the best ways to prevent a debt relapse is to remain cash-free. Not cash-free as in the lack of income, but cash-free as in keeping your money occupied and out of mind. If the stock market isn’t your cup of tea, try high-yield savings accounts and CDs. Raisin.com provides exposure to FDIC insured institutions offering high-yield interest rates above 5%. I like Raisin.com for its easy to use interface and access to multiple institutions to diversify your funds without creating multiple accounts across different banks. Click here and enter my referral code earlm014354 to earn up to $125 in bonus cash when you sign up and meet the deposit requirements.