Follow Me Out Of Debt | Get Out Of Debt And Get Into Prosperity!

What do you do when times are plentiful versus when times are more lean? Many folks have to ask this question several times a year, especially those who have inconsistent income throughout any given year. Perhaps your situation is similar to mine where one spouse doesn't work the entire twelve months of the year, so there is a time when things are a bit tight for a while.   Regardless of the situation, your attitude and preparedness makes all of the difference. If you're willing to set money aside during times that are more plentiful, you'll have what you need to get by when times are more lean. It's similar to certain animals that pack away food for the winter months; they know when times are going to be more lean and prepare accordingly in order to survive. Obviously, we're smarter than those animals in many ways, so we should be doing what we need to do in order to survive as well.   If you know someone who may benefit from this show, please feel free to share it by sending them to http://followmeoutofdebt

Whether it's shaving in the shower or getting our clothes ready the evening before for the following day, we're always looking for ways to shave some time in our already busy lives. There are plenty of ways to save time, and sometimes it's a matter of simply being more organized. These time-saving methods will allow us to be mindful of saving time and also be mindful of not wasting time.   To-do lists are a personal favorite of mine. This, along with other methods mentioned in this episode, help me to stay on track with what I need to do any given day so that I'm using my time wisely. Many times, I'll take some time on my lunch hour to be more productive and keep up on things. Other times, I'll take the entire lunch hour for myself. This is yet another way that we can squeeze a few more minutes out of each day, and surprisingly, this alone helps us to keep the mindset of being a time saver.   If you know someone who may benefit from this show, please feel free to share it by sending them to http://followmeout

What are your ten things to aspire towards? This list can be quite significant and can serve as a useful blueprint to living out the life that you want to live. This isn't just about money; there's much more to life than that. Instead, this list of ten things to aspire towards is similar to the question that you may have been asked as a child. You know the question that I'm referring to. What do you want to be when you grow up? Yes, that's the question.   There are going to be several ideas that come to mind, especially if you haven't given a lot of thought to these types of scenarios. Making a list of things that you want to aspire towards can touch the physical, mental, spiritual, and financial aspects of your life. Once you have your list of aspirations, then you can align your goals and the tasks associated with those goals so that everything is properly in its place. You'll find that your chances of meeting or exceeding these aspirations someday will have increased tremendously simply by completing this

How many multiple streams of income do you have coming in? There are ways to change your thinking so that you're on the lookout for opportunities rather than just letting your life go by. These opportunities can turn into resources of income, and no matter how small the stream seems to be, multiple streams of smaller amounts can eventually add up to quite a bit. Plus, you'll get better at doing this in general over time.   The obvious source of additional income for most folks would be a part-time job. This is a great way to earn some additional income and does count as a separate stream of income, but you may find that some of your likes and hobbies can also be turned into sources of income. It takes a bit of self-reflection, but you may find that you've let a lot of time pass you by without capitalizing on something that you are naturally good at and interested in doing. The only way to take advantage of this is to identify what you want to do, and get started today!   If you know someone who may benefit fr

It's the new eBay (or Craigslist). It's the Facebook Marketplace. If you haven't checked it out yet, I definitely suggest doing so. I have sold on this platform, and what's great is that I usually talk to and sell to people I already know. That's a nice bonus when you have folks coming to your home to already know the individuals.   It's a surprisingly easy way to sell the stuff that you don't need. The time that it takes to sell items is usually pretty quick, assuming that your item is priced right. It's a way to earn a little on the side from the stuff sitting around your house that may not be of any use to you but possibly could be for someone else. The best part? It's completely free.   If you haven't had a chance to try this out yet, and you already have a Facebook account, I suggest searching for the buying and selling groups near you. I advise joining several of these groups so that you can cross-post your items for greater exposure. You may also find some great discounts on items that you need that yo

It's important to not only complete a monthly budget, but it's also important to maintain that budget on a weekly basis. Revisiting the budget weekly allows us the opportunity to make sure that everything is in line and where it's supposed to be, especially making sure that we're not forgetting any budget line items in a given month. This is something that can take us by surprise, but if we're setting aside one day a week to ask ourselves if we may have missed any expenses that are coming up, it helps us to stay on track.   It also allows us to be more flexible with deviations that almost all of us will experience at one time or another. Don't get me wrong; it's good to learn how to budget and stick with a budget, but it's also easier on us to be able to roll with the punches when the time comes. Weekly maintenance of the budget allows us to be more fluid as well as understanding what we tend to forget from time to time.   If you know someone who may benefit from this show, please feel free to share it by sen

Should you keep a credit card for travel purposes? Some folks believe so, and I do agree with some of the valid points offered with doing so. First of all, the fraud protection and ease of disputing a charge is quite easy with a credit card. This is a big deal to me.   If you travel often for work and are reimbursed for expenses, using a credit card is an easy way to keep your expenses for work and for your home budget completely separated. Once you have been reimbursed for expenses, you can immediately pay the balance on the card. It will save you from having to enter a lot of otherwise unnecessary line items and details into your monthly budget for work-related expenses, and to me, that makes sense to keep the two completely separated.   Many hotels also require a credit card on file, even if you are paying with cash. From their perspective, they don't know who you are or if you are going to trash the room. They want to have recourse to recover charges or other damages, and they likely won't accept checks o

Should you get a pet while you're in the process of getting out of debt? Some folks who are currently in the middle of working through their get-out-of-debt plan realize at some point that they long for companionship in the form of a pet. They may feel guilty about purchasing a pet because they know that the pet will be an ongoing expense that may go in the opposite direction of the goals that are currently being worked on.   In my personal opinion, I think that you can get a pet while you're getting out of debt. At the same time, I also believe that it's not necessary to purchase your pet from the overpriced pet store in the mall. There are likely several pet adoption entities in your area, and while you may not be able to get a baby animal such as a puppy, kitten, etc., you can still find companionship in a pet that needs a good, loving home.   The bottom line is this. Make your decision based on your personal considerations that you need to make. Look into all of your options first, and if you find the pet

Just a quick personal update on me, the show, and more.   Do you have a question that you would like to have answered on the show or via e-mail? Go to http://followmeoutofdebt.com/contact to send your question today.   For faster response, feel free to message me directly on Facebook at: http://facebook.com/followmeoutofdebt    If you know someone who may benefit from this show, please feel free to share it by sending them to http://followmeoutofdebt.com. If you're on Twitter, follow me at @fmoodpodcast for all of the latest tips, updates, and strategies to get out of debt and get into prosperity.

Do you remember that infomercial from back in the day where the lady yelled out tell everyone to stop the insanity? It was an infomercial on diet and exercise, but that's not the topic of this episode. Rather, I am talking about how we need to stop the insanity when it comes to all of the ideas and concepts floating around in the world of personal financial advice. It can get to be pretty overwhelming if you let it, and sometimes you need to step back and take a look at how the advice aligns with your particular situation.   I believe that it is truly best to pick and choose which concepts work best for yourself. You may need to do a little trial and error in order to find out what's best for you and your situation, but the reality here is that there is no cookie-cutter approach for everyone. It simply doesn't work that way. There is a right answer for you, and sometimes it's worth it to dig deeper and look for that correct answer a little more than what you find on the surface.   Just as the answers are diff

Is it really necessary to eat rice and beans when getting out of debt? Absolutely not. Several gurus out there use the phrase of rice and beans when referring to grocery shopping, but this is to illustrate the point that you are no longer to be eating steak, lobster, and other expensive foods while you're getting out of debt. You aren't to be eating out at restaurants, either. The meaning behind the phrase is simply to spend less on groceries in order to get out of debt faster, and I completely agree with this.   What I don't agree with are the folks who are taking the phrase a little too literally. They are either purchasing rice and beans to extend the grocery budget, or they are buying low-quality, cheaper foods in order to fill their bellies without considering nutrition. This is where I have to draw the line.   There are other means to pay more on your credit cards or loans. Take on a part-time job. Shop at a different store if the one you normally shop at for groceries is costing too much money. The mai

You ask the questions on social media about personal finance, and I answer them right here on the show.   Ashley and her husband are having issues in their marriage. They have tried paying off debt for the last four years but have little to show for it. Her husband is never home, and it's affecting their marriage. She wants him home more often so that he has more time with the kids. They are stressed and feel like they are truly at the end of their rope. They are considering debt consolidation, debt management programs, and even bankruptcy.   Kristin needs some help with how to handle her medical bills. She's got about $3,300.00 in medical debt, and several bills have already gone to collections or are at the final notice point. I'll share with her what the best strategy is to take care of this problem and pay off those bills once and for all and prevent them from going into further collection efforts.   If you know someone who may benefit from this show, please feel free to share it by sending them to http:/

A friend in need is a friend, and you want them to stay that way. Letting them borrow money from you is a good way to almost guarantee that won't happen if your friend doesn't pay you back. Granted, if your friend borrows a smaller amount, you could just call it a gift and that's that. However, if your friend (or family member) borrows a substantial amount of money from you, what recourse do you have if they refuse to pay you back? Do you take them to court? That's just ugly, and nobody wants to go through that.   It's always best to simply say no. How you do this is as important as doing it. First, you need to schedule this conversation for a later date. The reason for this is to diffuse the situation naturally. You won't say no right away, but you will have a postponed and planned conversation later in order to get your ducks in a row.   Let your friend or family member know that you are concerned about their situation, and they may not like what you have to say. Let them know that you value their friendshi

On episode 159, I introduced the work from home opportunity known as Rev.com. The primary benefits of this program are paid training, consistent pay when you work, and a truly flexible schedule. If you have great grammar and typing skills, Rev.com may be a great fit for you.   The first segment of the Rev.com opportunity is transcription, but they also offer captioning as a second segment. I applied and tested for the captioning opportunity and had to wait a few weeks before I was approved. I found out upon approval that they only accept 10% of applicants. It's not easy to get accepted, but if you do, it's great to have the ability to literally determine exactly when you will work (as long as opportunities are available for you).   Personally, I enjoy the captioning program more than the transcription program. Neither program is a huge money-maker, but the benefits still make this an attractive work from home opportunity for the self-starter who's highly motivated. If you haven't done so already, I definitely

Yes, you can actually choose to be happy. While we are affected by external influences, we do have a choice as to how we respond to those influences. If you're having a bad day, you have the choice of whether or not you should take out your feelings about your day when you get home on your spouse and children. If you let it get the best of you, you may be short with family members, when at most times, it's not the appropriate response that you should have to a bad day.   Perhaps you are having difficulties with your spouse. While you could respond in anger, you have the choice to change your response to one of kindness and understanding. Perhaps you can learn to listen to your spouse better. Perhaps you can make a grand gesture that will help the two of you to reconcile and get on the same page.   Negative emotions do not need to be acted upon. It takes an enormous amount of self-control to choose happiness, but in the end, you'll be happier, healthier and less stressed. It's worth the commitment.   If you kn

Silly adult, gifts are for kids. Well, not all of the time, but in most cases.   Picture the holiday shopping season. How many times have you found yourself actually dreading that time of the year because you are anticipating the cost, stress, and gift returns? I don't get why people do this to themselves. The easy answer is to stop trading gifts with other adults in the family. Make the holidays and birthdays about the kids in the family and your spouse, and leave it at that.   It may be a tough sell, especially if there are blended family traditions that you are suggesting to break. However, once you discuss with your family and extended family the benefits of this plan and how it will directly affect them financially and emotionally, they may actually give your proposal some consideration. It may not happen right away, so you should expect a reasonable amount of resistance, at least at first. Many times, people will be more receptive if the subject matter at hand is about them directly. When they hear how

Have you ever had a temporary defeat? This is actually a good thing. Our temporary defeats and setbacks don't define whether we are winning or losing. Instead, these setbacks are helping to teach us a lesson, as long as we are willing to learn from the experience.   The next time you come across a roadblock or other temporary defeat, you should write down what went wrong, reflect on that, and figure out how you can ensure that the same problem will not happen again the future. It's also good when setting goals to give yourself a little more time to accomplish the goal in order to take into account any unforeseen circumstances. This will help you to plan well and naturally accept that we're all human and make mistakes, and that is completely okay.   If you know someone who may benefit from this show, please feel free to share it by sending them to http://followmeoutofdebt.com. If you're on Twitter, follow me at @fmoodpodcast for all of the latest tips, updates, and strategies to get out of debt and get into pr

Before you buy a beater vehicle to get out of your car payment, you may want to consider all of the possibilities. It's exciting to imagine getting out of car payments by driving a beater vehicle that was paid for with cash. However, how much will maintenance and repairs cost for said vehicle? What is the true cost of driving around in a beater vehicle?   Especially in situations where you have a longer commute, your chances of a break-down increase as the vehicle ages and the mileage on the vehicle rises. You'll want to plan well for failure in this situation and not assume that your beater vehicle will always be dependable. Sometimes you get lucky, and the vehicle lasts for longer than expected. Unfortunately, in many situations, the vehicle may end up costing you more in repairs than it's worth.   If you are considering a beater vehicle, I highly recommend finding a good mechanic first, if you don't have one already. Make sure your mechanic goes over the vehicle with a fine-tooth comb before you purchase i

Credit scores are still important. Many folks associate a credit score as a means to be able to get credit, but a credit score is used for much more than just approval of a credit line or loan. Certain employers may use your credit score as a determining factor of your employment. You'll need a healthy score for favorable interest rates on loans, including mortgages. Renting will be much easier and likely with a smaller deposit with a high credit score.   I have been doing a lot of research on the topic of credit scores, mostly because I've heard the repeated guidance from some sources to not be concerned about a credit score. After looking at things on my own, I am having a difficult time with the logic of purposely trashing your credit score. In this society, a credit score is important, and I think it's best to maintain or focus on raising your credit score, even if you aren't concerned about borrowing money.   If you know someone who may benefit from this show, please feel free to share it by sending them

This is a follow-up to the Pomodoro Technique introduced on episode 176. You may want to listen to that episode first if you haven't already.   Find out how the Pomodoro Technique has been working for me.   If you know someone who may benefit from this show, please feel free to share it by sending them to http://followmeoutofdebt.com. If you're on Twitter, follow me at @fmoodpodcast for all of the latest tips, updates, and strategies to get out of debt and get into prosperity.