Being in debt is scary. And, not having the cash you need to pay your bills can seriously suck. That’s why we go into debt, isn’t it? That’s why we spend money that we don’t have. And, it’s ultimately the reason why people do drastic things like selling plasma and taking out payday loans. Big mistake. [Read more...]
Nobody likes to take out a loan. OK…let me rephrase that. Some people like to take out loans. Nobody likes to repay them. We here at Club Thrifty certainly don’t. However, the fact is that sometimes taking out a loan is pretty much your only option. Of course, we don’t encourage people to take out loans all the time. Still, if you need to take out a loan, it is in your best interest to at least know what the bank is talking about. So, to help all of our Club Thrifty enthusiasts who may be new to the loan game, we’ve created this beginners’ guide to help define what some of the different types of loans are. Enjoy! [Read more...]
Good morning, Thriftaholics! Welcome to the first installment of our monthly budget breakdown. I’ve never shared our monthly budget details before but was inspired to do so after sharing my monthly income for the first time in June. In case you missed that post, you can read it here:
From now on, I’ll be sharing a monthly cash money income update as well as my monthly budget details for all of the world to see. Isn’t that exciting? Of course it is! [Read more...]
After my vacation to Mexico last week and my complete budget breakdown, I’ve realized that it’s time to get serious again. It’s time to start watching pennies and nickels and sticking to my budget come hell or high water. Why? Because sticking to a budget is one of the best things we have ever learned to do. When we started budgeting a few years ago, we made huge financial progress. Here is what we have accomplished in the last 30 months:
- We’ve paid off almost over 120K in debt (includes car loans, student loans, personal loans, credit card debt, and part of our mortgage)
- We’ve worked our way to a savings rate of over 50 percent
- We started building college funds for our kids
- We have a year’s worth of living expenses in cash savings [Read more...]
Whether you like it or not, it’s difficult to avoid getting yourself into at least one form of debt at some point in your life. For instance, if you ever want to own a home you probably need a mortgage. Regardless of your intentions, a lot of debt is taken on due to poor money management and bad planning. Fortunately, there are several strategies for avoiding debt altogether. [Read more...]
College is hard work. But between studying and attending classes, you probably find time for fun and friends. This is the time for self-discovery, and if your parents offer financial support, college might be your four-year vacation before adulthood.
But like most good things in life, the party eventually ends. And while you may look forward to walking across that stage and grabbing your diploma, you might question whether you’re ready for the real world.
Managing your personal finances while in school can prepare you for life outside college. Sadly, some college students rely entirely on their parents for financial support. And after graduation, they don’t know the first thing about credit or managing money. [Read more...]