Take Back Control

January 3, 2012 | Author: NCN

Happy New Year!

Here’s how I rid myself of consumer debt – and took back control of my financial future.  (No gimmicks necessary…)

First, I sat down with my wife and had an honest conversation about our finances.  We talked about where we were, where we were headed, and where we wanted to be.  This conversation – and the many similar conversations that followed it – changed our lives.  I will ever be grateful for my awesome, amazing wife.

Second, I created a plan to get out of debt.  My plan was simple, easy-to-execute, and realistic.

Third, I found freedom through structure, by using a zero-based monthly budget.  Every dollar that enters our home is designated to either spending, giving, or saving.  The smartest decision I have ever made – even smarter than the decision to get out of debt – was the decision to live on a budget.  Without a budget, money finds a way of disappearing.

Fourth, I created a system for organizing my financial documents, bills, taxes, online accounts, etc.  The shear volume of information and paperwork associated with personal finance can become overwhelming.  For me, it is imperative that I keep things neat, organized, and (my favorite organizational word) de-cluttered.  Simplicity rocks!

Fifth, I accepted accountability.  For me (and this still feels very strange to think about, even after all these years) my accountability came from this blog.  Literally, I told (and still tell) my story – to the entire world.  (Okay, I will not exaggerate.  The site has yet to reach the entire world – but I still have hope!  Help me out!  Be sure to subscribe to No Credit Needed via free daily email or rss – and don’t forget to follow me – twitter.com/NCN.  Also, use the buttons below to share this article!)  It’s good to share your story (warts and all) with someone.  Trust me, you are not the only one going through what you are going through.

Sixth, I just kept (and keep) going.  It’s one thing to have a good plan, to put it into place, to get started, and to make some progress.  It’s another thing, entirely, to keep going, to keep moving forward, and to keep making progress.  The day after I paid off that final debt, I already knew that my journey – rather than ending – had really just begun.  Surround yourself with like-minded people, positive voices, and folks who will pull for you – but you will still have to be the one to impliment the plan.

No Credit Needed is an independently-operated, single-author, personal finance blog.  Rock on.

Posted in Debt Reduction, Money Management | Leave a Comment

Making Plans For An Awesome 2012

December 29, 2011 | Author: NCN

2011 was an amazing year for me and my family.  I am excited about 2012 – and I thought I would share a few of the plans I have for the coming year.

Writing -

In 2011, time available for writing was extremely limited.  Thankfully, my schedule has settled a bit, and my passion for writing appears to have returned.  I plan to write (a minimum of) two articles per day, one here at No Credit Needed and another over at No Calories Needed.  I also plan to announce the launch of a new site – one focusing on the spiritual aspect of my life.

I hope you will enjoy what I’ll be producing, because my goal will be to create relevant content, from a personal perspective.  I started No Credit Needed because I wanted a place to both share my own story – and encourage others.  The past couple of years, my focus has been – unfocused? – and it’s time to change that.  In 2012, it’s back to the old NCN.  I’ll be writing about several personal finance topics, but, once again, debt reduction will be the primary one.

Connecting -

My twitter handle is @NCN.  You can follow me here – twitter.com/NCN.  How cool is that?  I have a three-letter twitter handle.  Here’s the deal, though.  See, I signed up for twitter a LONG time ago (in Internet years) – just after the site started.  However, I didn’t see how big of a deal twitter would be – and really cost myself an opportunity to gain followers.  I hope to rectify that, in 2012.

(Do you feel a theme?  I’ve been out of the blogging-loop for a while, not because I didn’t want to write, but because, I honestly did not have the time.  Now, I’m going to make the time.  The site is important to me.  Connections are important to me.  So, I’m going to take the time to interact and to write.)

Financial Planning -

This will come as no surprise – but my lack of writing has led to a lack of focus, when it comes to managing my finances.  Making the change from one job to another required a significant commitment, and now it’s time to laser-lock, and put into practice many of the lessons I’ve learned, and written about, over the years.  It’s been stated in a thousand ways – but personal finance is personal – it’s emotional, psychological, spiritual, and intellectual.  I’ve been treading water and now it’s time to get back to work.

Fitness Training -

I made a goal, a couple of years ago, to really focus on my health.  I’ve done a decent job of losing some weight – but not nearly enough.  I’ve continued to run, but I need to run more.  I plan to make 2012 a productive year, a year to make more progress, grow stronger, and be fit.

These are my plans for 2012.  I’ll have more to say in the coming days – with specific “financial resolutions”.  Until then, I want to thank you for reading No Credit Needed.  In April, the site will be seven years old.  That’s hard to believe.  If you haven’t done so, please consider subscribing to the site, via free daily email or rss.

No Credit Needed is an independently-operated, single-author, personal finance blog.  Rock on.

Posted in Goals | 4 Comments

Starting Over With Debt Reduction

December 12, 2011 | Author: NCN

As we zoom towards the new year, I thought it might be beneficial to write a few posts about “starting over” – and finding renewed enthusiasm for both debt reduction and saving money.

It’s easy to lose our initial zeal for debt reduction.  Making extra payments, and the more extra payments, and then more extra payments, can become tedious.  Throw in a couple of new charges on the old credit card – or a month or two of wasteful spending – and it can get down right difficult to get back-on-track.

Be honest with yourself and acknowledge that there is nothing that can be done to erase past mistakes and missteps.  Then, acknowledge that there is much that can be done to prepare for future progress and success!

Think back to what motivated you to get out of debt in the first place.  For me, I was motivated by a strong desire to set a good example for my kids and and real belief that my debt was an emotional burden.  I find that a good mixture of anger and optimism really helps keep me motivated.  Remember why getting of of debt was important to you!

Get back to the simple things.  It’s very easy, especially when it comes to money management, to outsmart our own selves.  Be sure you have an emergency fund.  Be sure you are current with all creditors and bills.  Focus on the next payment that is due.  Find the center and aim for it.

Remove the clutter and get organized.  I did this, just tonight.  After a month of simply “putting off” dealing with bills and financial matters, it was time to clear away the junk and start moving forward again.  Go ahead and deal with the stuff that needs to be dealt with.  Procrastination simply leads to future frustration.  Take the time, today, to make things better for your future-self!

If you feel like you are spinning your wheels – reflect on the progress you have already made.  The months, right in the middle of your debt reduction plan, can be the longest and most difficult.  You have already zoomed through the “I’m excited about getting out of debt” stage, but you haven’t quite reached the “my goal is in sight” stage.  Push through!  You will be so glad that you did.

December can be a difficult month to reduce debt – but a great month for planning.  Take some time, right now, to lay a solid foundation for 2012.  I, for one, am super-excited about what the new year holds, and I’m already planning for January 1.  If you have been stuck, now is the time to get unstuck.  Now is the time to focus, re-energize, and move forward.  You rock!

The above was the in-brain conversation I had with myself, today, in an effort to rebuild enthusiasm for the coming months.  It worked for me – I hope it worked for you!  This post was written without much concern for continuity between paragraphs.  Instead, it simply reflects what I was thinking, today.

Posted in Motivation | 2 Comments

Spreadsheet For Children’s Savings – Encourage Kids To Save

November 7, 2011 | Author: NCN

I recently created a spreadsheet to help my son track his savings.  He has moved beyond the simple three-jar setup that we used for his older sister – and I recently helped him open his very own Kids Savings Account from ING DIRECT.

He really digs updating the spreadsheet, which helps him visualize just how much money he has saved.  Kids are visual – and explaining the concept of an online savings account can be rather challenging.  The spreadsheet keeps him informed and motivated.

The spreadsheet – which is free to download below – tracks how much he has in his Totes Digital Football Coin Bank piggy bank, his wallet, and his savings account.  Screen shot -

The spreadsheet is designed to track savings for one 30-day calendar month.  Enter beginning balances at the top of the spreadsheet – and then track any deposits or withdrawals that are made throughout the month.  There’s also a cool chart at the bottom of the page, to show savings progress.  Screen shot -

Click here to download the spreadsheet (available in three formats) -

Kid’s Savings Spreadsheet for Microsoft Excel

Kid’s Savings Spreadsheet for Open Office Calc

Kid’s Savings Spreadsheet for Google Documents (No Chart)

Remember to include any interest earned.  I simply enter it on the last day of the month.  If a particular month has 31 days, simply combine withdrawals or deposits on day 30.  The goal is to keep the spreadsheet as simple-to-use as possible.

Any feedback would be appreciated.  If you think others might benefit from this article, please use the buttons below to share.  Thanks so much – you guys rock!

Posted in Family, Resources | 7 Comments
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