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Make Your Debt Goals Known May 26, 2009

Posted by 2bdebtfree in Financial Debt Budget.
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Our goal is to owe on nothing but our house in 2 years. My wife and I have talked about this and by us talking we both are working toward the same thing. Once we owe on only our house we will feel so much more secure about our future. Even now, just knowing that we have paid off several debts last year and we are working on paying off our car loan this year, make us feel better in uncertain economic times. Our goal is to pay off our car by the end of this year. Now that means we need to make big payments for the next 7 months, but if we will have paid off our car loan almost 2 years early. That also means we will have saved over $1,000 in interest. Talk about your goals…accountability…sometimes comes from knowing that you have doubters and that you want to prove to them, but also yourself that you can do it. Now get out their and get rid of your debt.

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The Ikea showdown…Them vs. the Budget. May 24, 2009

Posted by 2bdebtfree in Financial Debt Budget.
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I know it’s hard to stay on budget, especially in the summer. There is so much to do…and places to go…and things to buy. Last weekend it was a trip to Ikea… now it could have been a disaster…had we not had a plan. My wife worked it out and planned so that she knew how much she was planning to spend and then put a little extra in for those impulse buys. I on the other hand had no plans. I’m a free spirit when it comes to spending and that can be bad. I go to the store for a few things and come back an hour later with a $100 bucks worth of stuff. That does not help with getting out of debt. I have to thank my wife, she’s just wonderful, for all she has to put up with while we get out of debt.

Plan budget for any majorĀ  trips so that you know what it’s going to cost and how much you need to save. We got some great deals and stayed within our budget. If you ever go to Ikea check out their “as is section” before you leave. We got a TV stand already together for half the price. Wow, what a deal!

Ten Tips for a Great Garage Sale May 13, 2009

Posted by 2bdebtfree in Financial Debt Budget.
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Now is the perfect time to start thinking of having a Garage Sale. Going through your stuff and selling everything that you don’t need or use is a great way to get started and make some extra money for you debt reduction plan. A Garage Sale will be like getting a just start in a race.I ‘ve 3 great reasons to have a garage sale.

1. It cleans out your drawers and closets.

2. It costs very little to have a garage sale.

3. You could make a extra $300 – $500 easily to pay down a chunk of debt.

Now is the time with the nice weather to take a weekend and get it done. It helps to get more than one family together and have more stuff for people to stop and look at. If you have very little stuff you won’t have as many visitors. Here are some nice tips to make your garage sale a success .

Top Ten Tips for having a Garage Sale

1. Pick a date. Not a holiday weekend unless your whole town has one on that weekend.

2. Ask others if they want to be in your garage sale with you. The More the merrier.

3. Go through every room including the basement and attic to find everything you are not using and can sell.

4. Organize your stuff according to cattagories. Don’t just put the stuffed bear next to the meat grinder. That just looks bad.

5. Clean it. Yes it’s work, but if you really want to sell it, it will sell faster if you have all the dust off of it. Think about it. Would you buy a dirty George Forman Grill?

6. Price It. If you mark, buyers will feel more comfortable about buying something. Some people wont ask what you would sell an item for and they will just leave. Put Your initials on your stickers if you have a multi-family garage sale. Save all of the stickers off the sold goods. That way you can add up what everyone gets in the end.

7. Advertise. In your local paper, at your church, laundrymat andĀ  with signs from all major roads to your house. If they don’t know your having a sale, they won’t come. Tell everyone.

8. Make sure you have plenty of news paper to wrap glass with, bags to put stuff in for the customer to take and lots of change, $1’s, $5’s and $10’s.

9. If you are selling anything that has a plug in make sure to have an extension cord to show that the stuff works.

10. Have fun selling!

Watch Out for Potholes in your road to Debt Freedom! May 5, 2009

Posted by 2bdebtfree in Financial Debt Budget.
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My wife and I encountered a pothole in our road to being debt free last week. Some how our city did not bill us for our property taxes on our vehicles last year and we obviously didn’t pay it. When we went to obtain new stickers for our license plates we were told that we needed to pay this. This why having an emergency fund is so important!

We paid the taxes and then had our inspection done on our car. The car didn’t pass inspection and we had to pay for 2 new tires. Overall, we paid around $460.00 for something we budgeted around $60.

Make sure you have at least a $500 in your emergency fund and then add $50 a month until you have $1,000 in your emergency fund. By doing this it will get you started on paying off debt faster.