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The $200 Grocery Challenge! August 11, 2009

Posted by 2bdebtfree in Financial Debt Budget.
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It’s amazing how much we spend on our food budget alone in just one month. We spend an average of $73 on going to the grocery store each week, but we also spend money on going out to eat.That adds up quick in the budget.

This month my wife has sent out a challenge for us. We are going to eat for less than $200 this month. When you break that down, that is only $2.15 a meal for 3 people. Luckily, our son goes to daycare and his lunch will not be included in our equation and we don’t always eat breakfast. Even with that, it still doesn’t leave much room. We are getting organized and planning our meals out ahead of time and sticking with basic meals rather than making something fancy. It may also not be the healthiest foods. We found many of the foods that are less expensive are also less healthy. Our goal is to take the extra money we save and put it on debt. The sooner we are out of debt the better.

To eat cheap try some of these meals.

Look for items you can put together for less than $3 a meal.

• Fish Sticks and Mac & Cheese $1.75 – $2.50

• Spaghetti Sauce and Pasta (No Meat) $1.50 – $2

• Baked Chicken & Frozen Vegetables $2.50 – $3

• Hot Dogs & Tatertots $1.75 – $2.50

• Salad and chopped ham $1.50 – $2

• Chicken & rice $2 – $3

• Even Cheap Frozen Pizza $2.50 – $3

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.

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.

Summer Vacation June 18, 2009

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BlogCatalog April 15, 2009

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Personal Blogs - BlogCatalog Blog Directory

Join Today! Debt Freedom Class Social Network April 8, 2009

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Today we launched the Debt Freedom Class Social Network. Join today at http://debtfreedomclass.ning.com/

Work together to learn to organize your bills, cut spending and eliminate your debt. Tell your friends and family now is the time to become debt free.

How much debt can you pay off in 3 months? April 6, 2009

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I hope everyone is keeping track of how much debt they have paid off so far this year. This is the best way to motivate a family to keep up the hard work and get your debt paid off as fast as you can. Drum roll please….From Jan. 1st, 2009 – March 31st 2009 we have paid off $4,650.84 of debt. That is an average of $51.67/a day that we have paid off. Now, that is not typical in any way. We have a had some really good things happen to us and we follow our plan to pay off debt. If you have a plan it can make a huge difference. Here are some of the good things that have happened so far this year…

We got a decent Tax refund that went straight to debt.

We received a refund on our escrow account because we changed home insurance.

I have another part-time job for the first 6 months of the year.

We stopped putting money away for retirement until we have paid off everything but the house debt.

If we can do it, so can you. Start paying off your debt now.

Baby Bill Blues…Don’t Cry for Us. April 4, 2009

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In 2008, my wife and I decided that we needed to get on a budget. It wasn’t easy and we worked on it, month after month. At the beginning of the year, I took a second job and worked from home for 6 months to make some extra cash to pay for the baby delivery. We started to make progress in January, but in February everything was put on hold because I fell and broke my hand on some ice. This set us back around $2,500 and we then owed even more than what we did at the beginning of the year. But we worked hard, and paid our debts down and paid $11,700 in really 10 months. Did I forget to mention that we also had a baby in June! By the time the baby came we had already paid down our debt that we didn’t even include our debt from the baby delivery. We had all of our Baby Bills paid within 2 months because we had saved and planned for him to come.

Step 2: Stop Spending! Yes, Now! March 17, 2009

Posted by 2bdebtfree in The Steps to being Debt FREE!.
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If you are finished with step one and have organized your income and bills then, you are now ready for step 2. Stop Spending & Investing. Stop wasting your money on all of the extra junk you buy right now. The sale items, the coffees, the vending machines, the fast food. Now is the time to cut that spending. Plus, I know right now is a great time to buy stock and if you are debt free you can invest as much as you want, but if you are reading this blog, then you need to stop.

This was a really hard step for us. I have been investing in stocks since I was 15. All of last year, we kept investing…and looking back I saw my money going nowhere. We decided that starting in January we were going to stop investing in the market. We took that money and applied it to our next debt that we are  paying off. That put an extra $50 bucks or so…in our pockets to pay on debt. Since then everything as been snowballing and we have been paying off debt faster than ever last year.

If this is too drastic or maybe it’s just crazy and you need that feeling that you are still saving for the future. This is what you can do, invest only what your company will match. So if you company match is up to 4% then save 4%, if they match up to 2% then that’s all you should be investing when you are trying to get out of debt.

Try it for 6 months and see if you can do. If you are not using the money for debts, then you can go back to investing. But if it works then you will be out of debt a whole lot faster.

Now get to it.

Don’t let the Debt Get You Down! March 16, 2009

Posted by 2bdebtfree in Financial Debt Budget.
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Don't Stress about Unhealthy debt. Get Rid of Debt!

Don't Stress about Unhealthy debt. Get Rid of Debt!

Starting out is the hardest part. When you get started and make a budget you might be a little saddened by where your money goes every month. It’s different with everyone. Maybe you spend it eating out, clothes shopping or things. “Things” add up. Make sure you include some “blow” money that you can spend on anything in your budget. Just remember, once the money is gone, it’s gone.

Now that you have figured out that you need some blow money and how much (that is up to you). You are going to need to find out where you can cut some spending. This is a small step in getting out of debt, but it can add up quick if you really tighten up the spending.

Start with the big expenses!

Home Insurance
Car Insurance
Car Payments
Eating Out/Drinking
Clothes
Gifts
Utilities
Daycare
Cell Phone Bill
Home Phone Bill
Cable
YMCA/Country Clubs
Beauty Treatments

This is just a short list of monthly bills to see what you can trim from your budget.