Conquer Debt Year Round

[ProfMoneyWise]

Conquer Debt Year Round
Saturday June 4

Don’t touch it, it’s hot. Trust me on this one.

Kids just have to touch the stove to see if it's hot. You are a grownup so you don't have to. Debt burns your dreams to the ground, kills them. Stay away from it.

Having money problems is the number one cause of divorce. Debt also causes depression, poverty, anger, and frustration.

Others have learned this lesson for you. Take heed.

 

[ProfMoneyWise]

Conquer Debt Year Round
Sunday June 5

Once out of debt you can really build wealth. The more you have the more you want and that's not wrong. Nobody said you can’t give it to charity.

I think the mega-rich start charitable foundations because they have more than enough money to live and want the rest doing some good. They also value money and don't just throw it at problems. They want to see their money work.

I bet they couldn't care less about tax deductions.

 

[ProfMoneyWise]

Conquer Debt Year Round
Monday June 6

Being debt-free won’t rid you of all life’s problems. But, it eliminates a big chunk of them.

Money, kids, in-laws, and religion are the main problems in relationships. Handle your money wisely and you've taken care of number one.

You or your family may need medical care. Cars and homes require upkeep. Kids need to be fed.

Again, money doesn't solve all problems, but it does remove a lot of worry.

 

[ProfMoneyWise]

Conquer Debt Year Round
Tuesday June 7

I’m open-minded. Tell me again the good things debt does.

Really ask yourself if debt has any good and long-lasting effects. Paying forever on a seven-day cruise doesn't make sense. Paying for years on depreciating assets like cars doesn't make sense. Agreeing to overpay for credit card purchases doesn't make sense.

C'mon now, you are smarter than that.

 

[ProfMoneyWise]

Conquer Debt Year Round
Wednesday June 8

Be prepared to seem very strange to friends and family when you make your decision to get out of debt.

Yes, you may even be shunned by them. Why? Most likely they don't want to confront their own financial problems.

There are fewer people out of debt than there are people in over their heads. Be prepared to be in the minority.

 

[ProfMoneyWise]

Conquer Debt Year Round
Thursday June 9

Only drive "PF" model cars. PF stands for "Paid For."

Refuse to have a car payment. It can be done.

It makes no sense to pay money on something that decreases in value. Whatever you are driving now pay for it in full. Then put that monthly payment into a separate account. This money can be used to maintain your current car and be the cash to pay for your next car...in full.

PF model cars are in your future.

 

[ProfMoneyWise]

Conquer Debt Year Round
Friday June 10

Buy a cross-cut shredder. Shred everything someone could use to steal your identity.

This includes bank statements, credit card offers, utility bills, anything with name, address and account numbers.

Identity thieves are out there waiting for you to slip up.

 

[ProfMoneyWise]

Conquer Debt Year Round
Saturday June 11

Beware of what the federal government calls a credit.

A credit is just that, a credit. If you have to pay the credit back it's called a loan.

The government doesn't think you'll catch on to things like this. Prove them wrong.

 

[ProfMoneyWise]

Conquer Debt Year Round
Sunday June 12

A minimum of 1% - 3% of your home’s value should be saved for home maintenance in a separate account. No one said you need to use it all every month.

If you have a $100,000 house you need $1,000 - $3,000 set aside at all times for home maintenance. It costs to live there, and if you stay on top of things as they need attention you are keeping up your home's value. Plus you have a nice place to live.

 

[ProfMoneyWise]

Conquer Debt Year Round
Monday June 13

Do we really need a bunch of people in Congress who spend money they don't have to write legislation to protect us from those mean old credit card companies?

How long are we going to rely on someone else to fix our problem? Putting a few restrictions on a credit card company doesn't fix the problem. Being stupid is the problem and they can't write laws against being stupid.

 

[ProfMoneyWise]

Conquer Debt Year Round
Tuesday June 14

We all got a lot smarter the day the internet was invented.

There is no reason any of us should be clueless going into financial or business dealings, or get taken advantage of with the knowledge available to us with the click of a mouse. If you don't have access, you know someone who does.

Be your own safeguard. Use information as your shield.

 

[ProfMoneyWise]

Conquer Debt Year Round
Wednesday June 15

Every con requires the mark to be greedy or desperate. Don't fall for get rich quick schemes.

Many con artists are never prosecuted since not all victims come forward out of shame of being so stupid. And, it's not always illegal to separate fools from their money. Some schemes are so blatant that in retrospect the victim's greed or desperation makes them blind to the fact they willingly are giving away their money.

 

[ProfMoneyWise]

Conquer Debt Year Round
Thursday June 16

Spend less than you make. You should always be saving something. What part of this “no-brainer” needs repeating?

This formula for wealth, financial preparedness, and peace never goes out of style.

 

[ProfMoneyWise]

Conquer Debt Year Round
Friday June 17

I don’t view utilities as bills, I view them as choices. I choose to purchase water that runs and electricity that reliably turns on lights and appliances. These are choices, not bills I “have” to pay.

Bills are car, credit card, home equity loan, or student loan payments.

Now that we're on the same page I have to agree with you, I hate bills too. I hated them so much I got rid of mine. How about you?

 

[ProfMoneyWise]

Conquer Debt Year Round
Saturday June 18

Life happens, plan for it with an Emergency Fund.

It can't be stressed enough. Things will occur that will cost you money so plan for them. If you don't plan, these things cost you money you may not have readily available. You may mess up and use a credit card. Now you have more debt.

If you have money at the ready you solve whatever problem comes along without taking on more debt.

Be prepared!

 

[Wenchy]

Conquer Debt Year Round
Saturday June 18
You may mess up and use a credit card. Now you have more debt.

I use my credit card for all purchases. USAA actually gives me money back for everything I charge at the end of the year. No annual fee and I pay off the balance monthly, so no interest. No cash, so I don't worry about being mugged and having something that can't be replaced gone for good.

I agree with almost everything else you have to say.

No debt feels amazing.

 

[ProfMoneyWise]

Conquer Debt Year Round
Sunday June 19

Happy Fathers Day.

Why pay for years on a cruise (or any vacation) that lasts seven days? Don’t go until you can pay in full.

If you put a vacation on a credit card and make minimum payments month after month that vacation will take years to pay off and cost more than it was worth.

Don't sacrifice your future for short-lived gratification. Long after the memories fade, the debt remains. And that ruins the memories.

 

[Wenchy]

Conquer Debt Year Round
Sunday June 19

Happy Fathers Day.

Why pay for years on a cruise (or any vacation) that lasts seven days? Don’t go until you can pay in full.

If you put a vacation on a credit card and make minimum payments month after month that vacation will take years to pay off and cost more than it was worth.

Don't sacrifice your future for short-lived gratification. Long after the memories fade, the debt remains. And that ruins the memories.

Are you a frigging robot?

If I want to take a cruise I will use my credit card, get cash back and pay the balance off in full.

People can make money using credit cards.

I'm offended that you did not reply to me.

Go on with your bad self.

 

[Bann]

Are you a frigging robot?

If I want to take a cruise I will use my credit card, get cash back and pay the balance off in full.

People can make money using credit cards.

I'm offended that you did not reply to me.

Go on with your bad self.

 

[ProfMoneyWise]

Conquer Debt Year Round
Monday June 20

Money issues are the number one cause of relationship problems. Why do that to each other?

Studies have already proven it, don't think you have to validate the studies.

If before the marriage you aren't comfortable discussing money then you aren't ready to be married. Life is hard enough, don't let money make it harder.