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Wednesday, September 26, 2012

Suze Orman's Wants vs Needs

Suze Orman tells us how she really feels about wants vs needs spending!

Monday, September 24, 2012

Debt Challenge #5

Debt Challenge #5
Only buy necessities- This week take a look back at your needs and wants list that you made on Debt Challenge #2. Only buy things that are on your needs list this week. I know it won't be the easiest task, but that's why it's called a challenge. You can do it!! You will find how easily we get distracted with wants in our life. Good luck this week and leave us a comment to tell us how you did at the end of the week.


Friday, September 21, 2012

Friday's Success Story: Adrianne

Today's success story comes from Adrianne.  She tells us how being debt free has given her freedom and protection from unexpected events.  Let her story inspire you to find a way to bring some extra income into your home.  Adrianne also blogs over at The Tutor House.  Thanks Adrianne!

Wednesday, September 19, 2012

Reasons to Give I.T. Up!

What is your I.T. that you had to give up this week?  (I.T. stands for Indulgent Thing) Was it soda or coffee?  After last weeks challenge of giving up one of your wants, we thought it would be good to look at little things that can add up like soda or coffee. 

Here is a break down of how much money I would save if I gave it up for good.

$1.50 per day for a soda.

$1.50 X 7 = $10.50

$10.50 X 52 = $546

Whoa!  That is a huge savings.  I have been wishing for a couple of fun items that seem too steep to justify, but looking at these numbers...I could just cut out the soda and save that money up for my splurges.

We all know soda is harmful and definitely not good for you either.  Tips for giving it up all together?  Take it from the OZ:

Follow Link Here to View the Video

Monday, September 17, 2012

Debt Challenge #4

Debt Challenge #4

NO purchasing soda/coffee- This week may be a challenge for those who love some caffeine to get you through the day. Buying soda and a daily specialty coffee each day adds up. You may be surprised at how much money you can save by just cutting these two things out of your daily diet.

Good luck this week and hopefully this little challenge doesn't put you over the edge! Let us know how you did on Saturday and Sunday.

Wednesday, September 12, 2012

Delaying that instant gratification...

Dave Ramsey Quote

So as we work at our challenge this week and really let go of what we once thought was a NEED and accept it only as a WANT, I wanted to inspire you with a story of someone that recently has gone through the debt free experience.  She is very open with how hard it is and some of her tips about how she got through it.  They paid off $125,000 in 9 months.  Isn't that insane?!

Thrift Decor Chick is such an inspiration to all of us!  Notice how she talks about wanting to get her nails done and hair done...but she does it herself now.  Those types of things really add up!

I have a confession to make.  Every single year around April-ish...I get this sell our house.  I torture myself by looking at houses and day dreaming.  But the honest truth is, I LOVE my house.  When it comes down to finding something that works for us without hurting us financially and keeping within the the rule of "no more than 25% of your take home pay"...I just can't justify it. 

What is one thing that constantly nags at you?  That is really a WANT and not a NEED. 

Monday, September 10, 2012

Debt Challenge #3

Debt Challenge #3-

Live without one of your needs- This week choose one of your needs from the list you made last week and live without it this week. Whether that's eating out, shopping for new designer clothes, or that Starbucks you love; go without it this week. Let's see if you can give up one of your needs this week. Don't forget to tell us how you did on Saturday or Sunday.

Thursday, September 6, 2012

Dave Ramsey's Secret to Saving $

What is the secret to saving?
Saving money is not a matter of math. You will not save money when you get that next raise. You will not save money when that car is paid off. You will not save money when the kids are grown. You will only save money when it becomes an emotional priority.
We all know we need to save, but most people don't save like they know they need to save. Why? Because we have competing goals. The goal to save isn't a high enough priority to delay that purchase of the pizza, the DVD player, the new computer, or the china cabinet. So we purchase, buy, consume all our dollars away or, worse yet, go into debt to buy these things. That debt means monthly payments that control our paychecks and make us say things like, "We just don't make enough to save any money." Wrong, wrong, wrong!!! We DO make enough to save money; we just aren't willing to quit spoiling ourselves with our little projects or pleasures to have enough left to save. I don't care what you make; you can save money. It just has to become a big enough priority to you.
If a doctor told you that your child was dying and could only be saved with a $15,000 operation that your insurance would not cover and could only be performed nine months from today, could you save $15,000? The answer is yes! Of course you could! You would sell things. You would stop any spending that wasn't required to survive. You would become a saving madman (or madwoman). You would give up virtually anything to accomplish that $15,000 goal. SAVING WOULD BECOME A PRIORITY.
The secret to saving? FOCUSED EMOTION. The secret to saving money is to make it a priority, and that is done ONLY when you get some healthy anger or fear and then focus that emotion on your personal decisions. Harnessing that emotion will make you move yourself to the top of your creditor list. Then ask yourself, "Which bill is the most important? After tithing, who should I pay first this month?" The answer is, YOU! Until you pay God first, then yourself, then everyone and everything else, you will never save money.
The advertisers and marketing community are affecting our emotions every day and taking every dollar we have by making us see our WANTS as NEEDS. It is time for this to stop. Emotions make great slaves, but they are lousy masters. No matter how educated or sophisticated we are, if we are not saving all we should be, we are being ruled by emotions, not harnessing them as financial planning slaves.

Tuesday, September 4, 2012

Wants and Needs

Yeah for Debt Challenge #2! This week we are taking a look at our wants and needs. We all know that a want is something that we don't need to survive. Wants are what make life fun and interesting and what we like to spoil each other with. A  need is something we have to have in order to function and survive. Writing a list of both things will help you be more aware of what really is a necessity when it comes to spending money. In case you are having a tough time figuring out what goes in each column, here is a list to help get you rolling.

Fast Food
Cable TV
Data phone plans
High Speed Internet
Designer clothes
Video Games

Healthy Food
A place to live
Safe shoes

You are probably thinking, "these guys are crazy". We are not asking you to get rid of all your wants this week...we'll get to that later! :) Making a list will get you thinking what is really important.

Monday, September 3, 2012

Debt Challenge #2

Debt Challenge #2

List your Wants and your Needs- This week make a list of all your wants and all your needs. I think you can see where this is headed. Make a list with 2 columns, one for your wants and one for your needs. Needs are things you need to survive on like: water, basic foods, toiletries etc. Wants are luxeries we love to have like: ice-cream, soda, chips, new clothes and other fun stuff like that.

Stay tuned  later in the week for tips about your wants and needs. Good luck and report back on Saturday or Sunday and tell us how you did this week.