Category Archives: Budgeting

Why do People Get in Debt? How to Get Out of it

Why do People Get in Debt? How to Get Out of it

Young adults have their entire future ahead of them. Unfortunately, this means that many of them take advantage of the time instead of doing everything they can to get ahead. Many of my friends talk about debt as if it were just another fact of life. I can’t help but wonder if we are desensitizing ourselves to the negative aspects of it. This may seem like an obvious question, but if the answer is so clear, why are so many people still struggling with their finances? Continue Reading

Does the Cash Method Really Work?

Does the Cash Method Really Work?

One of the many ways that people try to curb their spending habits is to go to an all-cash budget. The reason for making the adjustment is that it helps you weigh the actual cost of each expense because it is actual bills leaving your pocket. It’s not a method that my wife and I use, but it has been helpful for some of our closest friends. Find out why it could help you. Continue Reading

We Set Up a Fun Budget

We Set Up a Fun Budget

I have previously talked about our jump in income over the past year. For those who don’t know, I started making a little money on the side from my new hobby and my wife got a promotion. We have been very diligent in saving and putting money towards retirement, but we never really gave in to some of our wants. Earlier we had been frugal by necessity, and now we have been faced with questioning what we want to do with our extra money. Continue Reading

How to Prosper

How to Prosper

Hopefully, you sat down and created your spending plan that I outlined in the spending plan post last week. It doesn’t take a lot of work, but will go a long ways to helping you prosper. Let’s focus on a bigger picture now. Follow these three rules and you will be on your way to financial success. Continue Reading

How to Increase Net Worth

How to Increase Net Worth

As many of you know, several months ago, I challenged myself with several short-term financial goals. One of them, which I haven’t talked about too much is to increase my net worth by 50%. For those who don’t know, net worth is the difference between your assets and liabilities. In other words, take all of your savings, retirement funds, and major assets and subtract your liabilities (loans, debts, etc.). Since my wife and I don’t have any loans or liabilities, this is a simple calculation. Find out why it is important to track your net worth and what we are doing to increase ours. Continue Reading

How to Save Money in Your 20s

How to Save Money in Your 20s

Have you ever felt like it is hard to save money as a young adult? While I have already talked about why it is difficult for young adults to save money, it doesn’t mean it is impossible. If you are in college and wondering how to put money aside, saving money may not even be a question because of the massive amounts of college debt that you are facing. Again though, it doesn’t mean it is impossible. While going into debt may be the popular choice, avoiding debt and saving money now is certainly possible. Here are some practical ways that you can save money even in your youth: Continue Reading

My Financial Goals

My Financial Goals

It was about two years ago that I started “hard-core budgeting”. I customized my own excel spreadsheet and would track expenses to make sure my wife and I weren’t spending too much money. I felt very proud of my new financial commitment. My wife and I are pretty good at controlling our spending, so we… Continue Reading