Buying your next car? This is how to save money.

Buying your next car? This is how to save money.

   Looking to buy a new car? First rule of buying a car is anything is negotiable. I sold cars one summer while taking a break from college and I learned a lot. The biggest eye opener was how the dealership tries to keep consumers focused on their car payment and nothing else. Why? There are a ton of variables you can manipulate to change your car payment, other than reducing the price of the car. Use these tips below to purchase your next car. Stay Focused on Price and Trade in value: When buying a car there are only

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How to stay focused on your debt free goal!

Do you want to get out of debt? Have you had trouble in the past when you’ve tried to get out of debt? I did to in the beginning. Once Emily and I decided to commit and focus on achieving are debt free goal we saw results. Here is how we stayed focused during our debt free journey.  Emily and I had been trying to get out of debt since 2009, it felt like a long time, and it’s a long time. We didn’t become fully committed to getting out of debt until May 2015. This commitment stemmed from us

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How to not go crazy following Dave Ramsey’s debt free plan!

Is Dave Ramsey’s plan driving you crazy? If you’re following Dave Ramsey’s plan you may have become frustrated with his show, as well as how long it’s taking you to get out of debt. Especially if you’ve been trying to get out of debt for years. I know I started to go crazy during the last year of paying off my house. That’s why it was time for me to unplug.  I’ve been following Dave Ramsey consistently for about three years now. But I’ve truly been following his plan for approximately the last 19 months as I paid off my

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How I’m going to read more books this year!

New Year’s resolution to read more books! OK, on average I probably read one maybe two books front to back every single year. However, I probably listen to three to five more on audio each year. None the less my big goal this year is to read at least one fictional book and three biographies this year. As well as try to stay focused in my reading selection, the books need to be informative or uplifting, but not too technical. If you’re like me your book stand may look like the above picture. It drives my wife crazy that I

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How long will it take for my money to double? 

The Rule of 72 I remember learning the rule of 72 back in high school and getting obsessed with this little math trick. I pretty much calculated every number under the sun for a solid month…weird kid. This number will prove helpful to you when comparing different interest rates. As well as determining how long it would take to have your money double. I use this trick when I’m calculating what my retirement account would look like in 10, 20, and 30 years with today’s balance. This is assuming I never put another penny into the account. Here is an

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I saved money by canceling my gym membership!

Cutting Expenses is Key to Getting out of Debt: Cancel the gym membership If you are paying for a gym membership I challenge you to save money in 2017 by cancelling the membership. I’ve saved THOUSANDS of dollars over the years by canceling our gym membership. I haven’t had a gym membership in over two years. To put this in perspective: My local YMCA I used to belong to charges $71.00 per month for couples $852 Annually $1,704 for two years! By canceling this membership I had more money in my pocket to do the things I love, like travel or

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How do I find out about student loans I owe?

Do you know where all your student loans are? I didn’t. You’ve graduated! Congratulations if you are like me and 40 Million other Americans you have student loans. My wife and I graduated with a grand total of $57,000 in student loan debt. When I graduated I had no idea who I owed money to. Which I thought was understandable after four years of school and new loans every single year, it’s hard to keep track. Here is how to find them If you are looking to find out who you owe money to a great resource is the National

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Getting out of debt? Start a business to earn extra money!

Starting a side hustle is great for extra income Ok, if you’re looking for a side business to get out of debt I highly recommend choosing a business you can create on your own terms. This is what my wife and I did in order to earn extra income. For the longest time I was searching for part time jobs that I could pick up in order to earn extra cash. But the issue was always time constraints. In addition, I wasn’t interested in earning $10 or less for my part time income. I wanted to earn more money and have flexibility in

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When will my debt be paid off?

How do I know when my debt will be paid in full? There are a number of great websites and apps that allow you to calculate when you’ll be debt free. Using these calculators are great because they can show you the difference between using a debt snowball or paying the highest interest rate first. In addition these calculators will let you know the exact day your debt will be paid off. Knowing the date of freedom provided me with a great focal point to strive for. These calculators helped provide me a light at the end of this debt

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Should I lend money to family?

Should I lend money to family? When asked should I lend money to family my response is always the same, no. My experience loaning money to my parent has proved disastrous for my relationship with them and my wife. Loaning money to family is one of the worst things you can do for a relationship. Unless, you don’t mind being the debt collector when your sister, mom, dad, or cousin don’t pay you back on time. My Story My personal story of loaning family money was three years ago when my parents almost lost their house. They had failed to pay

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Steps to Financial Independence!

Here are the steps to Financial Independence. There are only five steps to get to the summit. If saving money is wrong, I don’t want to be right! -William Shatner Financial Poverty In this category you can not make enough money to sustain yourself or your family. In this case you would need assistance to cover your basic necessities. This assistance could come from other family members or the government. Many people can find themselves in this position and lead normal lives. Nearly 21% of Americans are in this category according to the Census Bureau. Financial Dependence In this category you are living

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Who is the Middle Class in America?

As an American I feel like everyone is middle class I love how everyone describes themselves as middle class and politicians love them. I used to work in a bank branch and I would talk to people all day long about their finances. I would be tickled to death when someone I talked to who was earning $200,000 year called themselves middle class. Because I would deal with people all day long who made $20,000 – $45,000 a year who were also calling them selves middle class. There is a big disconnect in America on who the middle class are. I

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How to save for your next vacation.

Emily and I love going on vacations. It’s our time to get away from the rate race and enjoy some alone time. As well as explore new places. Our favorite vacations always involve islands. Our next big trip is Hawaii! We are super excited. Here’s what we do to plan our budget for big trips: We decide how much we want to spend on a trip. Most people decide where they want to go and then decide how much it’s going to cost. We like to work backwards by first asking how much do we want to spend on our

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What is a debt snowball?

What is a debt snowball? A debt snowball is simply paying off your loan with the smallest outstanding balance first while at the same time making only minimum payments on all other loans. Once the smallest loan is paid off you apply what you were paying to the first loan to the next loan and so on and so forth until all your debt is paid in full. Any extra money you receive will be dedicated to paying off the debt at the top of the list. USE THIS CALCULATOR TO FIGURE OUT YOUR DEBT SNOWBALL Example of how you

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Should I use a debt relief service?

Should I use a debt relief service? I vote no on this one. The issue with debt relief services is they do not fix the root problem that caused you to get into debt. In order to win with money you have to take control over your own finances, by changing your habits. Everyone knows not to get into debt, especially credit card debt. But it happens anyways do to the habits we create. By using a consolidation service you’re fixing the symptoms and not the cause. You plan to use one anyway If you do decide to work with

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