Budget, Debt Reduction

Hit The Brakes – Get Real About Your Debt

This article is step 2 of the Hit The Brakes – Get Real series.  I encourage you to read step 1 – Get Real About Your Expenses. In this series, we’ll examine ways to stop adding to current debt balances, create a basic budget, and begin the process of moving forward with a solid debt reduction plan. Now that you have a list of next month’s expenses – it’s time to get real about your debt. You’ll need access to your latest account balances.  You may need to log in to your online accounts and / or gather up recent statements.  I use Mint to track my various accounts and to manage our household budget.  It’s a cool tool –…

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Hit The Brakes – Get Real About Your Expenses

Being in debt stinks.  For real. I know.  For years I lived with credit card and automobile debt, worried and frustrated.  So, one day, I decided to do something about my debt. I hit the brakes. I stopped – took a look at where I was – and decided to go in a whole new direction. No Credit Needed was born and my life changed – forever. I think it’s time for a new series here – one I’m calling Hit the Brakes – Get Real.  In it, I’ll explore the steps necessary for analyzing one’s current financial situation and then go over some ways to move forward.  I’ll follow this series with another series – Hit the Gas –…

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Debt Reduction, Mortgage

Mortgage Payoff Progress for October 2012 with Chart

It has been quite some time since I last updated you guys on our mortgage reduction progress.  First, a couple of reminders: My wife and I have a conventional 15-year mortgage and we recently reduced our interest rate.  Our September payment was the first payment to made at our new interest rate. My wife and I purchased our first home back in February of 2010. Since then, we have been working hard to reduce our mortgage.  I changed jobs in August of 2011 – and we spent a few months adjusting to my new salary and our new financial situation.  Even with the change, we have managed to reduce our principal. Our goal is to pay it off our mortgage…

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