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Bankrupt: Not Always! June 26, 2009

Posted by 2bdebtfree in Financial Debt Budget.
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If you feel that you are bankrupt, you are not alone. Many families give up the fight before they even try to get out of debt. Bankruptcy should not be your only answer. It can haunt you for 7 years on your credit. It can effect you getting a loan, getting a job and your marriage. It’s tough for families that go through something like this. Look at our 9 steps to getting out of debt and see if they can help lead you down a different path. If you need help, contact us.

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Brown Bag It: This Summer for Lunch. June 24, 2009

Posted by 2bdebtfree in Quick Tips.
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You can sometimes find Banquet meals for less than $1.

You can sometimes find Banquet meals for less than $1.

A quick tip to save money is to not go out for lunch. Many execs and middle managers get comfortable going out with clients for lunch because they don’t have to pick up the check, but this can become a bad habit and even when they don’t have meetings they will still go out. It’s not that you have to bring your lunch all the time to work but it will save you money. Get organized and you can buy a frozen dinner for $1 – $3.50 or even bring leftovers for next to nothing. Most of the time you will spend anywhere from $5 – $12 for lunch. That’s 3 times as much! If you bring your lunch and just save that $4 each day, you will save an extra $1,000 each year for your budget. Just imagine, if you were someone that spends $12 on lunch every day, you could save up to $2,750 each year. You could use that money to pay down debt, use it for your next goal or spend that money on an all-inclusive vacation. This is a great way to save money and get out of debt. Watch the newspaper grocery ads for hot buys on frozen meals. Especially, at the first of the year, you can get some really great deals on healthy meals.

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.

Why being organized is important! April 19, 2009

Posted by 2bdebtfree in Financial Debt Budget.
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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.