Every January we make a promise to ourselves that this year will be different. Sadly no matter how hard we want it we sometimes fall short.
The key is to make a plan. If we count our steps and calories everyday, why don't we count our dollars?
Start small and simple. You don't need to create a fancy budget, get a financial planner or download some app you will open 3x before finally deleting. Just pull up your credit card statements and circle all the charges that were not "needs". Total them up and then decide on a goal. Sometimes we are too casual with our swiping and don't realize the damage until it's too late.
If there's a bunch of Starbucks charges then maybe commit to having only going there on Mondays #mondaybucks
Be the change this year. Just believe and commit. You will soon get rid of all that #debt and be #financiallyfree#financialadvisor#savethatmoney#debtfree#debtfreecommunity#smartgoals#payoffdebt#budgeting#budgetplanner#budgetingtips#wordtothewise
NEW EPISODE TODAY! 🚨
I’m obsessed with decluttering. It’s amazing how much better I feel when my space is tidy and getting rid of stuff always reminds me of how much I could have saved if I didn’t buy stuff I didn’t need! Our friend Lianne Hofer aka The Clutter Consultant will give us some great tips on how to declutter and stay debt free! Listen in this week's episode or catch the full video episode on my YouTube Channel! Link in bio 👌
Join my campaign to help eliminate $1 MILLION of debt and teach others how to save money, make money and earn your lifestyle! #crushthisdebt#millionairemindset#debtfreecommunity@lianne_hofer
•During the work week I’m rarely in the mood to make supper. I’m also one who dreads grocery shopping. To make it easier, we decided to plan out our weekly meals. •
•This saves us tons of time in the grocery store since we know exactly what we need, and it saves us from buying other things not on the list. •
•I love being organized so I have a list of everything we have in our freezers, pantry etc. This also helps when planning meals so we can plan meals around what we already have and not have to spend as much on groceries if possible. •
• This is what we have found to work best for us. Knowing we have food at home and meals planned out, it keeps us from eating out. We also plan to make enough so we have leftovers to take to lunch the next day. •
This is my first time making banana bread. I had some bananas that were about to go bad so I thought I would give it a try 🤷🏻♀️ Since, I’ve been trying to use up what groceries I already have it worked out AND it’s tasty too! I have never been much of a cooker but since I quit my job in November I have been trying to cook more to save cost. Now, I’m actually starting to enjoy it! So this is a win for me today 🎉🥳 #debtfreejourney#debtfreecommunity#frugal#frugalliving#budget#budgeting
Sometimes we spend our lives chasing after something someone else has, to finally get it and realize it’s not worth all the chase. It’s called “chasing the wind” and it’s foolish.
Stop comparing yourself to others and focus on how far you’ve come!
If the grass looks greener on the other side of the fence, start watering your grass!!! This is couldn’t be truer in the #debtfreecommunity... you will get there, you can do this! You can be #debtfree! You have to believe in you! Small steps make a big impact... keep stepping those #babysteps, and you’ll be #financiallyfree!
I'm truly awful at making posts@but hey January's numbers are in!! Was able to put a nice chunk towards our current snowball which is my student loan- can't wait to be done with it! Hope everyone is having a fantastic first month of the new year!
🎟🤰🏼👶🏽A college-savings program, called a 529 plan after the corresponding section of the tax code, now allows families to use those funds toward elementary and high school costs at private schools including those with religious affiliations. I know this is not in the order of the “baby steps” but I opened one when our daughter was born so family members can continue to contribute while she’s growing up. This is also a great way for birthday and Christmas presents. Think of 529 plans as Roth IRAs for college. They allow you to contribute funds toward your child's education and accumulate tax-free growth on your contributions. As long as you use the funds for qualified educational purposes, the earnings are not taxed upon withdrawal. Deposits are limited to $10,000 per individual per year ($20,000 for couples) to maintain gift tax exclusions. (This varies by state) Savingforcollege.com to see your state.
However, by funneling K-12 tuition costs through a 529 program in ones state, families can claim whatever tax break is available. Parents now have even greater incentive to use 529 programs, and the number of state residents claiming the tax break could expand rapidly without a proportionate benefit to state government .……………….................................................................... ✅ 1. Baby Step: $1,000 emergency fund•
🔘 2. Currently on baby step2️⃣• .………………....................................................................
Our current plan is to eliminate 22k in credit card 💳 debt under 36 months. However, I believe it can be done. 💳🔨 …...........................................................
I forgot how expensive was to move to a new apartment:
1. Application fee
2. Security deposit
4. Rental truck
5. Apartment’s insurance
All in one month!
Glad we can cash flow all this expenses and keep saving, still hurts my wallet though!
Full time job life 🤓
Real talk- I get super jealous when I see people living their “dream” working from home making workout videos on YouTube and being “sponsored”. Or selling “high end” skin care apparently making enough to live and pay off debt. I dunno, maybe they really do!
But for me, my goal is to move up in my career in the corporate world. I work in Business Development as a #sdr I actually really enjoy my job. But who wouldn’t want to get paid to make workout videos or talk on a podcast 😜
I currently work full time AND I write blogs for a friend making extra $$ on the side. I also try to workout 4-5 days per week. Talk about busy 🐝. But just gotta keep grinding and paying off this debt! What do you do for work? What’s your goal?
Writing down a budget completely helped shift our #moneymindset ! We created a FREE Monthly Budget template for you to download. What sets this one apart is that you have a budget spread that includes fixed and variable expenses, debt, saving and sinking fund goals ALL one page! There’s also a monthly meal plan and a #shopyourpantry inventory sheets! Tag us and let us know how your #budget is helping you! #debtfreecommunity
Just checked my credit score with finder.
But it’s different to my credit score on Equifax.
Does anyone know why this is?
I’ve put my referral link in the bio if you want to check it out. You’ll get a $5 Wish E Gift Card as well 💖
I think it’s important to constantly set small goals for yourself and achieve them. This keeps you eager and motivated to keep going. What are your money goals this week? See mine below!
1. Restock our Fridge so that we can eat at home the rest of the month.
2. Sell 5 unnecessary items in our home (clothing, decor, junk). 3. Pay extra on a bill.
— before I went all in on #mydebtfreejourney, I casually followed some budgeters instagram accounts. I thought Wow— they have their crap together. They are making sacrifices now to prepare for their futures. I knew we had debt, I never really took a look to see how much. I never planned meals, what I needed from the store, etc. I just went with the flow.
It wasn’t until the end of 2018. It had been 4 months since we completely moved back to Arkansas. Our income was about half of what it was in Texas, our bills were lower (but not 1/2). I knew at that moment if we wanted to be financially secure in our future, we needed to make a change and make it NOW! •
The beginning of 2019, it was time to prepare. I sat down. Wrote down my monthly bills, wrote down my debt, when everything is due, interest rates on debt, what we had in our checking accounts, savings, everything. I wanted to be as aware of all things financial as I could be so I could present this to my husband to get him on board. It didn’t take much convincing😬
We already had #babystep1 and #babystep3 completed. It was now time to decide how to tackle #babystep2. We are doing a mixture of #debtsnowball and #debtavalanche ! We paid off all of our smaller debts right then. We are down to our last 3 credit cards. We will be paying off our lowest one and then our last two are around the same amount so we are doing the highest interest rate first!
My journey so far is likely like so many others. Afraid to really sit down and start because once you sit down and write it all down reality sets in and you’re looking at all these numbers thinking how you got there! We can do it! We will do it! I’m so ready to make the sacrifices so my family is financial secure! I’m so excited for this journey! •
What are some of the ways you prepared for your debt free journey? #dfc#budgeting#debtfreejourney#debtfreecommunity#daveramsey#babysteps#ourdebtfreejourney
Have your ever felt like you no longer recognize your body? That's how I felt a few months ago. I had put on weight after our India trip last May and I didn't care to reduce them or even work out for health reasons. Over time, I realized I'm not happy with my status and wanted to feel fit and healthy again (and wear those clothes I can no longer wear without showing my belly fat)
No matter what our size is, if it bothers us, it's time to make the change. It took me a few more months to make that change. That's why I signed up for @orangetheory and it helped quite a bit to kickstart my workout journey. ⚡
I still have a long way to go in terms of feeling fit and strong. Then again, fitness is a lifelong journey and not just a short term goal. But short goals will help us keep going. ✨
My short term goal is to get rid of belly fat. Do you have any fitness goal?
For about 12 years, starting at age 5, I wanted to be an interior designer. HGTV has been my favorite channel for as long as I can remember. I love looking at homes, I love watching people transform their homes, I love how different spaces can change people. So, naturally, I have always wanted a home to call my own.
I was browsing through homes this evening (a favorite hobby of mine after toddler bedtime), and I couldn’t help but notice some of the homes for sale that had been foreclosed on. It made me stop to think about what it must feel like to be in that situation. All it takes is one job loss, one federal shutdown, one injury that causes you to miss work - and without a significant emergency fund or help from others, a person could quite literally lose the roof over their head. It’s tough to think about how many people are one significant incident away from that, all because they wanted to keep up with Karen from Facebook.
I know this, because if we had not found the debt free community, we probably would have been that couple. My skin used to itch with discontentment whenever I would see people my age purchase their first homes. But ever since starting this debt free journey, it has truly taught me about the importance of self-discipline, contentment, and patience. We have learned to be disciplined with our money now, so that we have money for a home in the future. I have learned to soak up every minute in this little rental that we are so dang lucky to have. I have learned that our patience will pay off. Our first home will be a blessing because we sacrificed and saved for all of the expenses that come with it - whether that’s 3 years from now or 10 years from now. Who knows. Until then, I’ll stick to window shopping 🏡
Nope, this isn’t the #debtfree post quite yet! 🤓
This IS how we announced to many friends/family members that we were engaged just 2 years ago in December (with better quality images...). We had no idea what we were getting into financially. Nearly $40,000 in debt between the two of us? We had NO idea... but we also had no idea how quickly we could dig out of that hole. .
This Friday we will get the checks that will allow us to schedule our final debt payment: my last student loan. 🎉
Today our final payment to Billy’s school collections posted. I wrote a statement approving the payment and they should mail us back a their own statement acknowledging a complete repayment of debt by tomorrow. .
Knowing it’s all so close is crazy. Honestly, I have no idea *when* we’re allowed to celebrate...!?!? I’m assuming when we get this collections statement and then see myfedloan.com hit “0”. My biggest fear is that we will schedule the payment and then like $1.75 (or whatever) of interest will be added in the day it takes to clear and then we won’t be really debt free, we’ll only be like 99.99999% debt free. 😂😂😂 #debtfreefears
When making our budget, we have one section titled ‘Housing.’ Under this section we have 7 line items:
The reason we have these under housing is because they are consistent payments that are always the same. But honestly, the only true four wall items are our mortgage, utilities, daycare and security.
I won’t say that we NEED each of these, because phone, tv, internet and amazon prime are luxuries that we have chosen to keep. But honestly if you are in the hole with your budget then these things need to be cut.
I will say though, that often times people forget that your phone plans (like the Next program with AT&T) are considered DEBT. Both of our phones are old and paid off. Trust me, I need a new phone, but I am making my current phone last hopefully until we are debt free. Then I can pay cash for a new phone. We are also on the lowest package for DirectTV and have a special deal for $50 a month. I worked my BUTT off to get that deal. Otherwise it would be cancelled.
You have to be aware of the things that you NEED vs. WANT. I am well aware that we have chosen to keep some luxuries, but our budget works well for us and we have been very successful so I don’t feel ‘too’ guilty. I’m proud of us!
Do any of you keep some luxuries on your budget but have still had successful debt payoff?
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$144 remaining in our grocery budget for January, and I am putting it out there now that I will only spend $20 more of it, MAX! Can't wait to roll the rest of it directly into the snowball! 😎
Then you know I'll definitely be reducing our grocery budget for next month- we are still sorting out the kinks as we are new to every dollar budgeting.
Talk about a #tiponatuesday! *
Family, Friends that became family! Let's get it!! *
I love her passion!!! #repost@keziamw (@get_repost)
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Green chili chicken packets and mushy peas! This meal was so cheap as a lot of it came from my mom. The most “expensive” thing was the two cans of crescent rolls but I used two 50 cent cans of sweet Hawaiian crescent rolls I got at Grocery Outlet so even that was pretty cheap. #cheapeats#whatsfordinner#debtfreecommunity#thriftymom
Ahhhh! Today we paid off the rest of my hospital bill from my delivery and post delivery stay from the birth of our son! I am now medically debt free!
We paid off $904 in one big lump sum. We had to do this because this bill went to collections because apparently we only had 1 year to pay off a $4,000+ bill. We didn’t know about the time limit and were just making our monthly payments. Then several months ago my credit tanked and I started getting calls from collection agencies. We were told if we could pay it off by the 20th of this month then we would be good to go.
In addition to this giant lump sum payment to medical debt, earlier this month we paid about $16,000 to my husbands student loans. We had to pay that debt off in order to get approved for our new home loan.
On one hand paying these two huge debts off is so great because we don’t have these monthly payments anymore and we are a big step closer to being debt free! And on the other hand pretty much all of our savings are gone. Looking on the bright side though, onwards and upwards! 🐝
Guess who stopped their nail biting habit. Crazy how all my nervous ticks went away once I started taking control of my financial life. Today we hit a MILESTONE people - I added another $2,000 to my @commonbond_co loan and now I’m under $100,000! That’s right, I only have $99,975.80 left to go on my student loan! That is definitely still a lot of money but for someone who was planning to ignore her $200,000 of debt for the rest of her life - this is a huge accomplishment. I can finally see the finish line and it’s only been 13 months since I started my #debtfree journey! The ending is (kinda) near 🎉 and I’m already planning my journey to Tennessee to do my #debtfreescream with @daveramsey . Can’t wait for my next budget video update, lots to share! #debtfreecommunity
I don’t know if it’s because I’m new to this whole budgeting thing or what but I can’t wait until January is over so I can close out my budget! It’s not like I’ve even been doing super well. I think I’m actually going to be over budget a good bit this month because of our new health insurance plan and contributions made to my husband’s 401k. As much as it sucks to be “over budget” (for whatever reason), I’m looking forward to seeing what areas we did well in, the areas we need to improve on, and make proper adjustments so we can actually start putting money towards our savings goals. Here’s to doing even better in February!
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Anyone else excited to close out your budgets? For the more seasoned budgeter, does the anticipation/excitement of closing out your budgets ever go away?
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