Savings, Tips

The Savings Sweep – Today’s Quick Tip

Today’s Quick Tip – The Savings Sweep At the end of each pay cycle, right before I receive a paycheck, I’ll do a savings sweep.  I take a peak at my monthly budget, notice any categories where I might have “left over” money, and sweep that money from my checking account into my savings account. Benefits of Today’s Tip – Savings account pays higher interest rate than does checking account. Money in savings account is harder to spend than money in checking account. This gives me one more chance to analyze and tweak my budget. I am motivated to live under-budget, so that my sweep amount can be maximized! Bonus Tip – If you are in debt, consider a payment…

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Breaking Bad Financial Habits – It’s Only

It’s only twenty dollars… It’s only three percent… It’s only for six months… It’s only – Is there a more powerful, desire-justifying phrase in the English language?  How many times have I blown my budget, because I fell into the It’s only-trap?  Seriously, even those of us who are trying to follow our budgets tend to spend more, in bits and pieces, when we convince ourselves that twenty bucks, spent here or there, is no big deal.  It’s only twenty bucks, right? Only after we get home, and reconcile our checking accounts or take a look at our wallets, do we recognize the truth – All of those it’s only-purchases have used up our cash, depleted our checking account, and…

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Goals, Motivation

Micro-Goals And Staying Motivated

I’ve been thinking about motivation. Where does it come from?  How can it be maintained? My primary motivation to get out debt was born out of a desire to have more control over my life.  To be frank, I was tired of living with the constant burden of interest payments.  Deciding to do something about my debt, I began to make major changes in my spending and saving habits. I’ve come to the conclusion that there were forces, external and internal, that combined to push me towards my decision to get out of debt.  First, a few months before I began to get out of debt, I began to listen to Dave Ramsey.  Day after day, I would listen to…

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