Conquer Debt Year Round

[ProfMoneyWise]

Conquer Debt Year Round
Friday March 18

You need a minimum three months of living expenses in an emergency fund. How much more you contribute is a personal decision, but the three-month minimum is required if you want to be financially prepared.

Some call it a "Rainy Day" fund, but no one should be calling it a "Vacation" or "Christmas" or "Clothes" fund. It's not for expenses for which you have planned.

Emergencies are just that, emergencies.

 

[ProfMoneyWise]

Conquer Debt Year Round
Saturday March 19

Did you know that student loans are not wiped away by bankruptcy. And, actually they're not the only items that aren't whisked away by filing bankruptcy.

Do your own research on what is and is not covered before going down this road. Don't rely on companies that profit from your misfortune for this guidance.

Bankruptcy sticks with you forever. It is a very serious matter. Don't take it lightly.

 

[ProfMoneyWise]

Conquer Debt Year Round
Sunday March 20

Figuring out where you are financially is easy, all it takes is a calculator. Income minus outgo equals how much you have to play with.

Many folks are worse off than they think, but some are better off then expected. The secret, though, is in the calculation.

Remember...write down how much you bring home each month. Then write down how much you spend. The result (add drum roll here) is . . . .

 

[ProfMoneyWise]

Conquer Debt Year Round
Monday March 21

Your financial well-being in the future is going to end up exactly where you are planning it to be right now.

If you are in debt and doing nothing about it you will always be in debt. If you are financially out of control and doing nothing about it you will crash and burn.

If you want a say in how you are from this point forward you had better look at where you are right now.

 

[cccfree]

Great information! Keep it coming!!

 

[ProfMoneyWise]

Conquer Debt Year Round
Tuesday March 22

Quit being selfish. Living your life financially out of control may be ok with you, but consider the people who depend on you. They deserve better. Take control of your spending immediately.

Too many people think they are hurting only themselves when they really are hurting those who depend on them financially and emotionally.

It's sad to think these horrible habits are being passed on to the next generation.

 

[ProfMoneyWise]

Conquer Debt Year Round
Wednesday March 23

If you can’t pay for it, don’t buy it. What more do you need to hear?

Don't let these words be drowned out by those trying to convince you that you should go on the cruise or deserve the new car. They have no stake in where you are financially and most definitely will not be there if you end up in a bad situation someday.

Drown them out, do the right thing, don't spend what you don't have.

 

[ProfMoneyWise]

Conquer Debt Year Round
Thursday March 24

The rate of interest assigned to your credit accounts reflects the level of risk a creditor is assigning to you. In short, if all you can get is a credit card with a 20% interest rate, that tells you creditors think you're a slug and not very likely to pay them back.

Why are you letting them do this to you? Get them out of your life!

 

[ProfMoneyWise]

Conquer Debt Year Round
Friday March 25

When it comes to groceries consumers pretty much buy the same thing week after week. So, budgeting for groceries should be easy.

However, budgeting anything can be frustrating and you're not going to get it right the first time in all areas. Food can be one of those areas, but it's also an area you can adjust by what you buy. Budget high for food. If you aim high adjusting downward gains you dollars.

 

[ProfMoneyWise]

Conquer Debt Year Round
Saturday March 26

A car payment is not a fact of life. Utilities, food, gas, clothes, education. Those are facts of life.

Get your priorities straight and put your money where it is supposed to go. Some value the kind of car they drive more than taking care of life's necessities. Worse, they sacrifice their family's comfort to look good driving down the road.

This behavior is inexcusable. Don't be one of these people.

 

[ProfMoneyWise]

Conquer Debt Year Round
Sunday March 27

Write down what you spend. Write down every item, no matter how big or small. Even things as small as a newspaper. Do this for one month.

You soon will find out where your money is going. Then you can begin to tell your money where you really want it to go.

This is an enlightening and liberating experience. Start today. Write it down!

 

[ProfMoneyWise]

Conquer Debt Year Round
Monday March 28

No one makes you borrow money. So, don’t bemoan the fact you now have to pay it back.

No one makes you take possession of things that aren't yours in exchange for spending more than the item is worth each month. No one twists your arm and makes you wear other people's clothes that you pay for with VISA.

In short, if you did it you are to blame. No one else. Now go fix it.

 

[ProfMoneyWise]

Conquer Debt Year Round
Tuesday March 29

You are paying 20% interest to a credit card. You are making an 8% - 12% return on non-retirement investments.

Again, why aren't you cashing out the investment and paying off the 20% card?

 

[ProfMoneyWise]

Conquer Debt Year Round
Wednesday March 30

Name a store where you walk in and beg them to sell their product to you.

Answer: A Bank

Think about it.

 

[ProfMoneyWise]

Conquer Debt Year Round
Thursday March 31

Read the fine print. The smaller the print, the higher the price.

No one reads credit card agreements or loan terms yet everyone goes ballistic when companies enact or enforce what was in those agreements.

Make it easier on yourself. Don't borrow money and then you don't have to read the fine print or play silly games.

 

[ProfMoneyWise]

Conquer Debt Year Round
Friday April 1

Don't be a fool, get out of debt.

Happy April Fool's Day!

 

[ProfMoneyWise]

Conquer Debt Year Round
Saturday April 2

Keep what you make. Get out of debt.

If you have debt you're working for others. Don't be a borrower and slave to the lender.

 

[ProfMoneyWise]

Conquer Debt Year Round
Sunday April 3

The average credit card debt per household is reported to be $9,000 and rising. This is spread over an average of up to nine cards.

For once in your life, be below average.

 

[ProfMoneyWise]

Conquer Debt Year Round
Monday April 4

People in debt cause your investments to suffer.

You don't have to look far to see how the debt debacle in 2008 destroyed the market and the economy.

If you are out of debt but not trying to help others see the error of going into debt you are part of the problem as well.

 

[ProfMoneyWise]

Conquer Debt Year Round
Tuesday April 5

Keep It Simple Stupid (KISS) Tip of the Day:

Yahoo Personal Finance has a financial glossary. I’ve found that if I’ve never heard of it, or don’t understand the explanation, it probably doesn't affect me all that much.

Finance is simple. The more complicated you or others make it, the higher the risk.