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Summer Vacation June 18, 2009

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Don’t Waste your Money! June 16, 2009

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Here are 6 ways to prevent yourself from wasting money!

#1 Transfer credit card balances.

If you can, transfer to a 0% interest card.

#2 Pay on time!

Late fees are just wasted money.

#3 Pay your bills online.

Save on stamps  and you get to keep your money longer in your bank account.

#4 Prioritize your bills.

Make sure you pay the bills so that keep your house and car.

#5 Ask your lender for lower interest rates.

If you can’t transfer, ask for  a lower rate. Ask nice and if you pay your bills on time they may just lower your rate.

#6 Pay your smallest bills first strategy.

Get rid of as many bills as you can as fast as you can.This is called the snowball effect. Once you have cleared out all of the little bills you will feel some relief and you will be more confident about tackling the bigger bills.

Getting the New iPhone 3Gs vs. Getting Out of Debt June 12, 2009

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Sometimes we have to make hard choices when trying to get out of debt. I don’t just want an iPhone. I really, really want it. Unfortunately, it costs an extra $30 bucks a month for 2 years. Now, they have lowered the price of the old 3G iPhone to just $99, but when you add on the data plan that iphone now costs $819 over 2 years plus your regular cell plan. Which means it will run us $3,460 for us to have a cell phone plan for 2 years. versus $2,640 without the iPhone. Look for ways to substitute down. They now have tons of touchscreen and smartphones that don’t require a data plan. If you work on a computer at the office and have a computer at home, do you really need another way to connect to the internet?

If you really have to have the iPhone make sure to add the data charge to your budget. If possible, take a couple of months and save up for the phone so that you don’t go over your budget for the month.

Good Luck and Get Out of Debt.

Make Your Debt Goals Known May 26, 2009

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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.

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

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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 major  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

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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 and  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

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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.

For some Really Great information on how to live cheap April 22, 2009

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You should visit www.ClarkHoward.com

He has great advice on ways to save money and not get ripped off.

He also offers a podcast that you can listen to for free. This is great to listen to for inspiration and motivation to become debt-free.

Get Organized. Cut Spending and Eliminated Debt!

If you are nearing retirement…Here is a great blog to visit. April 20, 2009

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Retiring and staying out of debt.

Why being organized is important! April 19, 2009

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Tonight, I was updating my totals after paying bills and my spreadsheet showed that we have now paid off $5,000 in debt so far this year and we know owe less $100,000 in debt. What a really exciting time for us. I hope you are doing as well. Keep going that is all I can say. Each bill paid off and each milestone reached is so much more exciting. You too can be on your way to being debt-free.