Budget, Frugality

Budget Busters: Areas For Improvement

I sat down tonight to review last month’s budget, and I overspent in a few categories. Why? Primarily, I’ve been this month and I never took that time to really look at how much money was “slipping through the cracks” in my system. Here’s my personal list of areas for improvement, and how I plan to avoid busting my budget in the future: Problem: I spend to much for convenience store items: Bottled water, power bars, sodas, and snacks are way more expensive at the gas station than they are in the grocery store. Solution: I need to do two things: One, I need to stop eating junk from the convenience stores and I need to put a couple of…

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Follow My Every Move

Debt Monster recently introduced me to twitter. What is twitter? Good question. It’s this strange site where you blog about what you are doing and posts are just a few sentences long. If you’d like to find out what I’m doing, follow me here: http://www.twitter.com/NCN. If you have a twitter account, add me to your friends list (or contact me and let me know). This week, I participated in the following personal finance carnivals: Low Income Lady (a member of the No Credit Needed Network under the name: Weight Money Life) hosted this week’s Carnival of Debt Reduction. Plonkee (also a member of the No Credit Needed Network) hosted this week’s Carnival of Personal Finance.

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Reader Poll: The Results (Smallest Balance Or Highest Interest Rate)

In a recently poll, I asked readers to vote for the best method for reducing debt. Number of votes: 182 Votes for Method 1 (Pay smallest balance first.): 87 Votes for Method 2 (Pay highest interest rate first.) 95 As you can see, the numbers are very, very close. With just over 52% of the vote, Method 2: Focusing on the account with the highest interest rate first, is winning. Personally, I used Method 1; Focusing on account with smallest balance first, because I enjoyed the psychological boost I received whenever an entire account was eliminated. Several readers left comments, and I’ll be using those comments in future posts. For now, I’m going to leave the poll open, and if…

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