I love this time of year. I love giving gifts, hanging out with family, and enjoying time off from work. What I don’t love about this time of year – and what many families struggle with after this time of year – is credit card debt. So, let’s put together a plan of action, so that when those bills arrive in January, we’re ready to pay off that credit card debt – and be in a position to pay cash for gifts, next year. Make a list of all creditors – with balances and interest rates. Pick a plan of attack – smallest balance first or highest interest rate. There are pluses and minuses for each approach. I prefer to…
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How To Save Money On Groceries
I’ll admit it. I actually enjoy shopping for groceries. I usually shop on Tuesdays and I try to go to the store when there are fewer customers shopping. Over the years, I’ve learned how to save money (and a little time) while shopping for groceries. Here’s what works for me – 1. Use a grocery store price book to track the prices of regularly purchased items. (I’ve created a free printable version of the price book that I use. Feel free to click the link and print out a copy for yourself.) The price book will help you figure out the rock-bottom prices from your favorite store or stores. The price book will help you know when to stock up…
Continue Reading→How To Stay Out Of Debt
1. Live on a budget and plan for future purchases. If you are going to live without borrowing money, you will need to save for future purchases. Saving for automobiles, furniture, and appliances requires a lot of discipline and a lot of planning. The debt free life is awesome, but it does require that you spend some time mapping out your financial future. We use the You Need A Budget software to manage our finances and I’m proud to have them as a long-time sponsor of this site. 2. Maintain adequate cash reserves. Rainy day fund, emergency fund, freedom account – It goes by many names, but no matter what you call it, you’ll be glad you have it when…
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