A Debt Free Plan- Do You Have One?

Debt can rob us of so much more than money. It can cause problems in our personal relationships and at work. It can affect our health in a negative manner and it can affect our self-esteem. It can also rob us of hope and make us feel totally powerless. 

Being in debt can cause feelings of anger, anxiety, depression and shame to surface. The marital discord it causes can lead to a complete breakdown of a marriage. In some cases it can lead to the loss of a home or the loss of a job. 

It is a life disrupter and a bad character no matter how you look at it. 

If you are one of the many people affected by a mountain of debt then what you need is a plan to get out of it. If you do not have a debt free plan already then you need to create one right away! Every day counts. 

It is important for everyone to become educated about how to become debt free in their lives as financial problems can be extremely stressful on a person and can have a ripple effect in damaging their life as well as the lives of those who matter to them most.

In order to not sabotage your life with debt, make a plan for yourself to become debt free and work towards your goal a little at a time. Inch your way forward. Even if you are only crawling you are still moving forward. 

But how?

Do not allow debt to control how you live or what you do.

How do you accomplish this end? All you need to do is design an effective budget that allows you to live within your financial means. If you are not good at designing a household budget then find someone who can be of help to you in this area. Carefully review all of the options you have when it comes to budgeting and then be strict with yourself. Don’t overdo strict however as you still have a life to live! Figure out what your monthly bills are as well as your monthly expenses and then work from there.

Once you have found ways to cut back in your day-to-day life then find ways to reduce your debts on the road to becoming completely debt free.

Make it a personal goal of yours to not create any new debt for yourself. Save for big purchases instead of charging them on a credit card. In order to guarantee your success of becoming debt free, you must control your finances and not let them control you. You also must lower the number of debts you have. Put effort into staying within your household budget and put money away whenever it is possible to do so.

Learn to live as frugally as possible.    

             

Easier said than done? Perhaps but it is doable. 

Living a frugal life means finding ways to reduce your bills on a monthly basis. It also means discovering tips about how to save money and putting them to use in your household. That is what this site is all about. You came to the right place!  

If you take a serious look at what you do with the money you earn you should easily be able to find ways to cut expenses, save more and minimize your debts. For example, do you really need to eat out at a restaurant every Friday night? Really do you? 

If you enjoy renting movies over the weekend consider renting them from the public library for free instead of the DVD store in order to save yourself some hard earned cash. Take the money you saved and put it into an emergency fund and/or your savings account. 

  

You are on your way! 

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Eliminating Debt That You Do Not Need

Getting into debt is the easy part, it is eliminating debt from your life that is a difficult and often gruelling process. Grrrrrrr.

The number one reason that people fall victim to the devastating effects of debt is?

Unexpected and unfortunate life events. It is mitigating life circumstances that pull us under and threaten to keep us there.

It is a sudden illness or a long-term medical condition that leads to expensive medical bills (which is particularly traumatic for those who do not have medical insurance or do not have adequate insurance coverage). It is also loss of employment and divorce that can cause debt to take hold.

The sad reality of it is that while you may have gotten into debt through no fault of your own, it is your responsibility to climb out of the hole of debt that you have fallen into!

Eliminating debt is not easy and often comes at a price. But so does being in debt.

Hmmm, let us look at another problem that causes debt, especially for young people.

Do you need it or want it? That is the question.

Another issue that leads to debt is not being able to separate wants from needs. You NEED a place to live, food to eat, electricity, clean water and clothes on your back. You DON’T NEED the most expensive house on the block, designer clothing, a new car every couple of years and frequent restaurant meals. You want those things and there is nothing wrong with that but if you cannot afford them then you cannot afford them. Period.  Think about it. Constantly using credit to fund your wants will lead to trouble if your income cannot support the lifestyle you are earnestly pursuing.

Before you pull out your credit card to purchase that new outfit and that new pair of shoes for your date on Saturday night stop and think about what you are doing. High interest rates on credit cards are what cripple many otherwise well-meaning individuals.

If you use your credit card responsibly and pay it off in full every month then you will not incur any interest, however if this is not something you are able to do then think twice about using your credit card for frivolous purchases. If you shop with cash you are less likely to buy items you cannot afford, as the lure of the credit card will not overshadow your shopping trip.

Here are some tips to help you get back on track:

In order to eliminate debt that you do not need, always have awareness of the debts that you have.
  

Leave no stone unturned when it comes to understanding all of the debts that you have. Make sure you are aware of the balances of all of your credit cards and outstanding loans and get educated about interest rates. Find out what whether the interest on your credit cards and/or loans is deductible and also find out when and how these rates are subject to change.

Take stock of your bills and prioritize each one.

The items that are non-deductible include credit cards, personal loans and car loans while deductible items include mortgages and home equity loans. Student loans are deductible sometimes but not others so if you have one find out whether this is the case with yours or not. Take your bills and divide them into different piles and then methodically go through each one and rank it from the highest interest rate to the lowest interest rate.

Pay the debts you have with the highest interest rates first because those ones will cost you the most in the long run.

It is best to begin with the debt with the highest rate and typically a debt that is non-deductible and then go onto the next one, and so on.

If you follow these simple tips then you will be doing the debt free dance before too long! 

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Simple Ways to Save Money on Food

It is appalling and downright depressing to see how food prices keep rising and rising and rising! As I manoeuver my cart around the store I feel my wallet emptying even as I glance around at the selection. We all need to eat so cutting out eating is not an option. What does that leave us with? What can you do to cope with climbing prices at the grocery store? 

Well you can do these things: 

You can write up a budget and promise yourself that you will follow it faithfully. Be strict with yourself and just do it. Period. Don’t be swayed by fancy advertisements or enticing looking products. Adhere to your budget and keep more of your money with you. 

You can buy legumes, nuts and seeds and eat them in place of meat. Eating animal products is more costly than plant proteins and is also less healthy. If you do not want to give up meat all together then start by substituting beans for meat at least once or twice a week. You should notice a reduction in your weekly food bill right away! 

You can stop eating processed and refined foods. Contrary to popular belief, processed foods are not necessarily cheaper than nutritious foods. They are often pricier and will eat up more of your food budget. As well in the long run they will harm your health. Instead look for inexpensive healthy foods, such as legumes, lentils and seeds (listed in the point above). You can’t get much cheaper than beans but oh the protein they provide is tremendous!   

You can join an organization in your area that specializes in coupon swapping. Coupons are all the rage as budget savvy consumers look for more and more ways to save money. Join up and start sharing and swapping coupons for items that you regularly purchase. If there is no such organization or club in your area then take the initiative and start one of your own. Not only is this a smart way to save money but it is a gathering of likeminded people that can help you to widen your social circle and help others in the process. Go make some new friends through your collective interests.  

You can join a wholesale club such as BJ’s, Costco or Sam’s Club. These places often sell food items and household merchandise in bulk and at cheaper prices than you would get at other stores. Before you do this however consider how much membership costs and how far away from your home the store(s) is. If the membership is high and the travel time is considerable than that may outweigh the benefits of saving money for you. However it may be the opposite and it may be a cost savings option for you to explore.  

 Image: Grant Cochrane / FreeDigitalPhotos.net

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Managing Your Money Wisely- You Can Do It!

To be a wise money manager you first need to know how much money you have that needs to be managed. That means knowing exactly how much money you are bringing in and if you have any additional sources of income other than your job then knowing that too!  

In order to learn to be the best money manager you can be, you need to learn the basic rules as they pertain to the important issue of money management. To get on the right path with your money here is what you need to do: 

Set goals for yourself

Financial goals are important and can act as a guide. Set short term goals as well as mid and long term goals.

Plan for your future

It is never too soon to start planning for your future. It is wise to plan all major purchases such as purchasing a car or a large ticket item (such as a piece of furniture or a new appliance) for your home.

Get insured

In the event that the unforeseen or the tragic happens to you, be prepared. Make sure you have enough life insurance, medical insurance and disability insurance. As well make sure you have enough property insurance. Do not burden your family members in ways that they should not be.

Know where your money is going

Do you know what happens to your money once you cash your paycheck? If your money seems to vanish into thin air then you need to start a record of what you spend on a daily basis. This will help you uncover areas of spending that can be reduced.

Design a budget

Create a monthly budget for yourself but make sure it is realistic and not too rigid. If it is too rigid then you will not follow it faithfully. Include in your budget your living expenses, the expenses that arise periodically, as well as how much debt you are paying on. Take the time to evaluate your budget from time to time to make sure that it continues to reflect a realistic financial picture.

Don’t go credit crazy!

Always use credit responsibly (always!). If you charge something on your credit card make sure that you pay it off at the end of the month. Do not pay only the minimum on your credit cards. Remember that interest is building all of the time! Did you know that your credit payments should never go beyond 20 percent of the income you are bringing in? Don’t let it happen to you! 

Pay your bills promptly

In order to have the best credit rating possible, be responsible when it comes to paying your bills. This includes everything from your mortgage or rent payments to your credit cards and your utility bills. Always pay your bills on time. If you find yourself in a financial bind then call up the creditor in question and ask if a suitable payment arrangement can be made.

Save for a rainy day (among other things)

Keep your future in your sights when you get paid. It is advisable to save roughly 10 percent of your gross income. If you want to do something big such as take a trip or make renovations to your home then save your money to make these things happen. Create an emergency fund for yourself that is equal to at least two to six month’s worth of income in the event that you lose your job. Preparation is half the battle!   

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Saving Money on Makeup- The Wonders of Petroleum Jelly

One way to save money on makeup is to put petroleum jelly to good use in your beauty routine. This inexpensive beauty item has so many beneficial uses. For instance instead of spending your hard earned money on makeup remover use petroleum jelly in its place. A little goes a long way! Just make sure that you don’t get any in your eyes when you are wiping off your eye makeup and be careful not to tug at the delicate skin in your eye area. 

Petroleum jelly really is a beauty essential that no lady who cares about her looks should be without. Whether you buy the Vaseline brand (it’s my favorite) or a generic brand use petroleum jelly as a moisturizer for your hands when you are out of hand cream.   

Smooth it into your cuticles to give them a conditioning treatment anytime that they could use it. One suggestion is to remove your old nail polish and then use petroleum jelly on your cuticles. Wait a day or so before you have another manicure and your cuticles will thank you for the royal treatment! 

If you are going out for a night on the town and want your lips to look as luscious and as sexy as possible then try this trick- smooth on a creamy lipstick and then dab a tiny speck of petroleum jelly in the middle of your bottom lip. You can either leave it “as is” and it will look like a shiny gloss and will draw attention to your lips, or you can blend it into your lips to give them an allover glossy sheer finish. 

How else can petroleum jelly save you money on your makeup dollars? 

If you like the look of mascara on your lashes but want to go for a lighter effect then apply petroleum jelly to your lashes gently and then use an eyelash comb to separate them. Just use a little bit. Make sure you wipe up any residual jelly that falls under your eyes.  

On days when your eyebrows will not behave smooth a little bit of petroleum jelly over your brows to tame them so they do not appear unruly. This will make them look straight, smooth and very stylish! 

Before you color your hair or get a perm apply petroleum jelly near your hairline. This will help to prevent stains from developing on your forehead. If you are very sensitive to chemicals you might also want to place cotton balls over the top of the jelly to protect your skin even further. 

Image: Stuart Miles / FreeDigitalPhotos.net

How to Get the Cheapest Pet Insurance

One of the ways you can help to preserve your pet’s health is by purchasing the best pet insurance you can afford. It is understandable that you want the cheapest pet insurance but you also need to be smart about other things such as doing an insurance comparison.

Shopping for Pet Insurance

Taking your cat or dog to the veterinary can be very expensive which is why having vet insurance is smart for every pet owner. When it comes to looking for the best insurance rate you need to know that shopping for animal insurance is not that different from shopping for insurance for yourself. The costs vary from one insurance provider to another and the coverage offered by insurance policies is not the same. If you are looking for a pet insurance plan for your beloved pooch or your feline friend or even if it is the rabbit or horse you adore then you need to compare pet insurance quotes and you need to thorough.

When it comes to the best dog insurance that is affordable it is the breed of dog that is connected with the price you will pay for vet pet insurance. Some insurance companies consider the age of an animal in determining the cost of UK pet insurance. The health and medical history of your dog would need to be checked out and reviewed before you would be given the green light for insurance coverage. The insurance provider would also need to know the likelihood that your pet will develop any diseases in the future. For instance some diseases are more common in some species of dogs.

Consider All Factors

When it comes to pet care pet insurance comparing quotes makes a difference as it can help you to zero in on the rate that is most accommodating to your budget. Searching for the cheapest pet insurance around involves considering many factors about your pet. If your pet has a preexisting condition then you need to think about that as well. Some companies will not want to insure a pet who has a chronic health problem while others may be okay with that but may charge you a higher rate. Cheap pet life insurance may not be available if your pet has an inherited health condition and/or if the condition is unstable and requires regular medication or medical attention. 

Research your options before you buy pet insurance. Once you know what is out there you will be able to make an educated and informed decision. While cost is a factor in buying pet insurance, it should not be the only factor.  

Image: Ian Kahn / FreeDigitalPhotos.net

 

Enter a New Uncharted World- Read a Book and Save Money in the Process!

Looking for a way to save some money on entertainment? I have often told people that opening up a book is like starting a new adventure or entering a world that comes alive as you turn each page. Rediscover your love of reading and save some money in the process!

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“Good friends, good books and a sleepy conscience: this is the ideal life” were words spoken by Mark Twain. So maybe you have good friends and your conscience is as it should be but when was the last time you read a really good book?

If books are not a part of your everyday life because you are caught up in the online world and you think books are a thing of the past then you do not know what you are missing out on. Books open you up to a whole new world and beckon you to enter in. Books educate, they entertain, they make you laugh and they make you cry. Books tap into a part of your psyche that you may not access on a regular basis. Books are an instant friend on a day when friends are few. Books guide and books lead you down a new path. Jessamyn West said that “Fiction reveals truths that reality obscures.” 

If you are ready for some new truths then you are ready to meander down the path of the classics. 

What is a Classic?

Classic books are those that stand the test of time and still come out on top of the rest! They are books that achieve critical and popular success that can endure over a span of many years. They are the books that are unforgettable and leave their mark in your mind and in your soul. For example, when published in 1960, To Kill a Mockingbird did not meet with the approval of many of its critics, yet readers flocked to libraries and bookstores to read it. In fact it sold 2.5 million copies in its very first year. As of the latter half of 2008, the book has sold 28 million copies and has been declared the “Best Novel of the Century” by Library Journal. 

Some of the classic books of all times include (in no special order) - Les Miserables by Victor Hugo, Pride and Prejudice by Jane Austen, Catch-22 by Joseph Heller, Ulysses by James Joyce, Moby Dick by Herman Melville, Lady Chatterley’s Lover by D.H. Lawrence, A Tale of Two Cities by Charles Dickens, The Bell Jar by Sylvia Plath, War and Peace by Leo Tolstoy and Wuthering Heights by Emily Bronte. 

Stop here and ask yourself- how many of the classics have you read? There have been many lists of classic books written over the years and some of the books that end up on the list might surprise you. Others might delight you and still others might have you shaking your head in disbelief (or utter disdain). 

For instance, have you seen the movie The Lovely Bones? If you have then you owe it to yourself to read the book because it is so much better. It is a very moving story by Alice Sebold. Here is a brief summary of the book, published by Little, Brown and Company in 2002:

What would life be like in the hereafter for a 14 year old girl whose life was senselessly cut short? Welcome to the world of Susie Salmon. 

At the opening of Alice Sebold’s stunning debut novel, Susie Salmon tells us that she is dead. Her life was ended on December 6, 1973 by a perverted neighbor. The book takes its readers back and forth between Susie’s narrative, her need to make sense of her new world, Heaven, and  her musings as she observes her family and friends bravely attempting to cope with her violent and untimely death, and the events that are actually unfolding back on Earth in the lives of the people she loves.

This book deals with one of life’s harshest tragedies- losing a loved one to a violent crime- but it also carries with it a message of love, joy, and the courage it takes to allow healing to begin. The Lovely Bones will draw you in from the beginning and hold you until the very end. The author’s ideas regarding her version of Heaven are very enticing and her prose is eloquent. This book will remain with you long after you close the back cover.  

Regardless of whether you choose to read the classics or not, just read. It matters not whether you read fiction or non-fiction. What matters is that you absorb yourself fully and find reading material that engages you and gives free rein to your imagination. Visiting your local library will open your eyes to the myriad of choices of authors and titles. 

Now tell me- when was the last time you read a really good book? How soon will it be before you read another one? 

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