Surveys have shown that a majority of Americans, 60% to 70% live paycheck to paycheck. There are always going to be hiccups in your personal finances, and those tough times are often multiplied if you do not have a written monthly budget. But, how do you find money to pay your bills in short notice if you are in a pinch? Going to a payday lender should be one of your last resorts because of the enormous amount of interest that you will ultimately pay on such a short-term loan. Payday lenders provide a horrible service that preys on people … [Read more...] about Three Places To Find Money In A Pinch When Times Are Tough
This past week as marked a turning point in the South with temperatures noticeably dropping and long sleeves and pants making their comeback out of the depths of our closets. I routinely see my electric bill almost double during the winter while I switch on my home’s electric heating unit. Electricity costs can eat up a substantial portion of your monthly budget if you are not careful. Households that use heating oil and gas do not fair much better either. In fact the average home using heating oil spends over $320 per month and gas users … [Read more...] about Ten Ways To Save On Your Electric Bill This Winter
With the stock markets currently all over the place lately, there have been plenty of talks about recessions, bear markets, double dips, and tons of other financial vocabulary words that are thrown around. But, what is the definition of a bear market? How do you define a recession? It may not be as easy as you think. You may actually not care either. What Is The Definition Of A Recession? While there are no clear cut definitions of a recession and no governmental agencies that host the one true, undisputedly accepted … [Read more...] about What Is The Actual Definition Of A Recession?
The last week, I wrote an overview of Dave Ramsey’s baby steps system from his book, The Total Money Makeover, and I have been dissecting each of his individual baby steps as well. The Total Money Makeover is a personal finance book that I highly recommend and one of the greatest personal finance books to read. Today, we will look at Baby Step 4 in more detail which is to invest 15% of your income for retirement. There are seven Dave Ramsey baby steps that you should follow in order that will lead you to financial … [Read more...] about Dave Ramsey’s Baby Step Four – Invest 15% Of Your Income For Retirement
The other day I wrote an overview of Dave Ramsey’s baby steps system from his book, The Total Money Makeover. There are seven baby steps that you should follow in order that will lead you to financial peace that he discusses in his book which is one of the Top Ten Personal Finance Books of all time that you should be reading. Today, we're going to focus on baby step 3. Dave Ramsey's baby steps are… Baby Step 1 – $1,000 Emergency Fund Baby Step 2 – Pay Off All Of Your Debt With A Debt Snowball Baby Step 3 – … [Read more...] about Dave Ramsey’s Baby Step Three – Fully Funded Emergency Fund
The second baby step in Dave Ramsey’s The Total Money Makeover is to pay off all of your debts except your mortgage. He recommends doing this by using a debt snowball. When Dave Ramsey talks about paying off all of your debts except your home, he means exactly that, all of your debts. This is where you list all of your debts in order from the smallest balance to the largest balance. You should include all of your credit card debt, student loans, car loans, loans to parents, debt to the IRS, money borrowed from your parents or … [Read more...] about Dave Ramsey’s Baby Step Two – Pay Off Your Debt With A Debt Snowball