Search Results for: blog financial crisis what should you pay first

Taking Debt Too Lightly

Why is it so easy to go into debt and so hard to get out of it? I think for modern generations, there has been a culture of taking debt too lightly. Fortunately, for some of us, that culture is changing toward one of getting rid of debt or not getting into it in the first place. Meanwhile, there is still a more corporate culture that encourages debt, and it is one, as individuals, that we have to fight against in order to be solvent and live a good life. Being offered a loan, whether it is a home mortgage, … Continue reading →

The Best Way to Pay Off Credit Cards

Credit card debt is at an all-time crisis. With compounded interested levels of up to 20 percent, it can quickly spiral out of control. Getting the credit cards paid off should be every family’s number one financial goal. It is the first step in living debt free. The are right ways and wrong ways to pay off your credit cards. Taking out a second mortgage or home equity loan is probably not the best idea, although some others may advise such actions. The same goes for borrowing from your life insurance policy or from friends and family. The key is … Continue reading →

How to Find a Debt Counselor

If you need to dig yourself out of debt or a family budget that is stretched to the breaking point, you may want to consider having a little help to develop a plan and keep you on track. There is nothing embarrassing about using a debt counselor. If you are in debt, you are not alone. According to recent estimates, there are millions of Americans who are deep in debt. The important thing, of course is what they do about it. A debt counsellor will help you by taking a look at the big picture as well as the details. … Continue reading →

How to Have a No-Spend Month

Interested in challenging yourself to go without spending anything for an entire month? Accomplishing such a goal can be something to brag about. If you want to try a no-spend month, you might want to do just a little research and preparation. This way, you’ll be more likely to be successful. Here are my tips for having your own no-spend month. Visit the Library Head over to your local library and take out a bunch of cookbooks. Skip the ones that use a lot of complicated ingredients as well as the ones that you a lot of processed food. Why? … Continue reading →

The Money Saving Mom’s Budget

When it comes to frugal living, fresh inspiration is often hard to find. Oh sure, we do what we can, from attempting a budget to washing out baggies in order to save money. Often, the problem, though, is that we aren’t armed with a solid start to finish plan. Crystal Paine’s book, The Money Saving Mom’s Budget gives you that plan, and explains the importance behind each step. I haven’t seen anything this good since Amy Dacyczyn’s The Tightwad Gazette, a book on frugal living that has now pretty much obtained cult status. Paine’s book, however, is updated with more … Continue reading →

What Do the Postal Service Cuts Mean for Your Household?

It was bound to come to this. The US postal service is an independent bit of the government that while subject to government rules and regulation is not supported by government funds or tax dollars. For years it has been hurting financially, and is now requesting to be allowed to make some changes to help reduce that debt. USPS asked the Postal Regulatory Commission for a number of changes that may affect when and how you get your mail. One of the items for change is the standard delivery service. Currently set at two days, it would be changed to … Continue reading →

How Vulnerable is Your Community?

Did you know that when the United States president declares a disaster, 90 percent of the time it is weather related? Some areas of the country are more prone to certain kinds of weather emergencies than others. But how do you know which ones pertain to you? or example, do you really need to be prepared for hurricanes? If you do, is there a specific time of year when hurricanes should be a concern? What about those other emergencies, both the ones that are weather related and those that might not be, such as floods, tornados, blizzards, earthquakes., etc.? There … Continue reading →

Financial Crisis: What Should You Pay First?

If you find yourself in a situation where you cant pay all of your bills for the month, or several months, it is important that you have a plan. Some bills really are more important than others. Knowing what to pay first and what to pay next can mean the difference between losing your home or car and getting through a difficult time and then back on your feet. There are many options that you can take when you need to settle or discharge debt. Just make sure that you prioritize payments to the bills that can’t wait. Think about … Continue reading →

Creating a Nest Egg

One thing that I’ve always struggled with as a single mom is finances. With a growing child there is always some unexpected expense so usually I was juggling, as my grandmother used to say “Robbing Peter to pay Paul.” The unfortunate part was that I didn’t learn anything from this for a long time. We struggled so much that when I had a little extra money I felt like we deserved a treat. That was all well and good, until the next financial crisis occurred. What I learned over time is that saving money should be the first thing I … Continue reading →