Basics, Debt Reduction

Getting Out Of Debt

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…

Continue Reading
Basics, Saving Money

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
Basics, Debt Free

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…

Continue Reading