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

Your relationship with money should be one of complete control. If you aren't in control of your money, then that means that the opposite is true: your money is in control of you. The best way to control your money - to tell it what to do, to tell it where to go - is to have a budget in place. Your budget is what helps you to stay in control of your money.   Money is an inanimate object. It is not living or breathing, so it should not be in control of you. You must be the master of your money. You wouldn't get into your vehicle and press the gas pedal but refuse to steer the wheel. The result of this action would likely be a crash. Just as you need to be in control of your vehicle because it's an inanimate object, you also need to be in control of your money. You need to steer both a vehicle and your money in the direction where it needs to go. In the same, you also need to apply the brakes when necessary as well as press the accelerator when the time is appropriate to do so. This is how you will arrive at yo

When we are in the process of getting out of debt, we naturally decide to cut or reduce expenses that we don't need. We also make decisions to not spend money on anything that is not written down or otherwise entered in the budget. These are good things, and we definitely don't want to change these good behaviors.   However, we do tend to develop a mentality where we can't (or won't) spend money due to a lack of resources. We're constantly reminding ourselves that we need to stay within a certain budget in order to have enough resources to use to attack debt. While this is a good way to think while we are in the process of getting out of debt, it's not the way that we'll need to be thinking eventually once we are out of debt and on our way to getting into prosperity. It's actually good for us to visualize that second half of our goal of getting into prosperity every once in a while.   How do we do this? The simplest way to do this is to do a quick exercise that will help you to visualize what your life will b

When you have reached a significant milestone in your journey, it's natural to want to take some time to celebrate. There's nothing wrong with this; as a matter of fact, I think that it's healthy to take some time to celebrate the smaller accomplishments along the way towards achieving a much larger goal. We can't work hard and stay laser-focused in perpetuity. Everyone needs a little downtime from time to time.   The key here is to not get comfortable. If you get comfortable with taking a break for too long, you will lose your momentum. While you may be able to once again regain your momentum, it's better not to get off track in the first place. The best way to do this is to put an end-time on your celebration period before you even begin to celebrate. Realize that you will be celebrating in a reasonable fashion for a fixed amount of time, and once you've finished celebrating, it's time to get back on track and on to the next goal and milestone. You will celebrate again once you've reached the next milestone

There are many reasons why married folks decide to go from a two-income household where both spouses are working to a one-income household where only one spouse works. The usual reason for this is to have one parent at home to raise a child or multiple children. Naturally, the decision to move to this way of doing things can be scary and will almost always cause some level of stress. Fear not, because this can be done!    What you do need to realize is that it's not always an issue of how much income is coming into the household but rather how much is going out. If you can better control and reduce expenses, sometimes that is all it takes to move to a one-income household. You will need to be the one to analyze your particular situation to find out if a one-income scenario is the best move for you and your family.   If you have decided that you and your spouse will change from a two-income to a one-income household, then the next step will be to clearly define roles and expectations before making this change.

Today I will be reviewing the Ibotta app for iOS and Android. I'll also tell you how you can earn $10.00 just for trying out the free app and will go into more detail about how you can save money on purchases that you are already making while earning money with the app at the same time. Simply go to http://followmeoutofdebt.com/ibotta and sign up for an account to try the app. You'll instantly earn $10.00 right off of the bat, whether you use the app or not.   Keep in mind, you won't save hundreds of dollars a month on your grocery bill by using this app, but you will save hundreds of dollars over time. The app is completely free, and you can use this app along with couponing to save even more money.   Again, go to http://followmeoutofdebt.com/ibotta to sign up to try the app and get $10.00 just for signing up. If you don't like it, it doesn't cost you anything, and you get a free $10.00 out of the deal.   To stay up-to-date on show updates and bonus content, follow me on Twitter @fmoodpodcast or on Facebook

It is typically depicted that in most marriages, there is a saver and a spender - the one who handles the budget and the one who spends all of the money. The reality is that it is not usually black and white. There is quite a bit of grey area, especially when two spouses have been working together for a while to improve the overall family finances. Typically what will happen is that one spouse will begin to see and agree with the other, and the two will naturally move closer together as far as their goals are concerned.   When we automatically label our spouses and ourselves, we take away the possibility to come together in order to find common ground and work towards eventually realizing the proper plan for getting out of debt. Chances are, if you have a spouse who is sort-of on board with your plans to get out of debt, they will likely never align perfectly with your plans. It's supposed to be that way, because we all come from different backgrounds. Some of us have been raised in an environment where spend

What makes you truly happy? It's a question that many of us have likely pondered at least several times. It's an important question to ask, though. It's even more important to find the answer to this question, because this particular question will start an inner dialogue that may help us to live a happy and balanced life. This is especially true if we are willing to drill down even further once we start to get an answer to that question.   While it's nearly impossible to experience joy all of the time, it is possible to minimize the negativity in our lives that contribute to sadness and feelings of defeat. If we reflect on what truly brings us joy, we can make those items a priority. Do you enjoy spending more time with your spouse? Do you enjoy spending time with your children? Do you have hobbies that you enjoy that you've been putting off due to lack of time? Do you enjoy time with friends? There are a plethora of circumstances that have the potential to bring more joy in our lives as long as we keep in mi

Today I discovered a new tactic that some companies are now using in order to trap us into debt. Personally, I've never seen this tactic used before, so it was brand-new to me. It came in the form of a check. I simply needed to endorse the back of the check, deposit it into my bank account, and the loan was effectively switched on.   I was amazed when I saw this. It's a whole new level of attempting to trap us into debt. What's more, the letter of congratulations that comes with the check spells out just how easy it is to take advantage of the offer. I can only imagine the temptation if someone is truly desperate for funds to grab the check, run to the bank to deposit it, and find themselves in a horrible debt trap. It's horrible because the back of the letter spells out the fine print to the tune of an APR of almost 30% interest. Yikes.   Don't fall for this trap. Warn your friends and family about this new tactic as soon as you can. Make sure to have your shredder nearby just in case you also get one of the

When we are involved in a huge undertaking like getting out of debt, we may feel discouraged at times. This is especially true if we have been sacrificing the things that we truly enjoy in the name of paying off our debt faster. We may be tempted to give up and go back to our old ways in order to avoid the pain of sacrifice.   Keep in mind that these sacrifices aren't always a lifetime change; typically, we're only making short-term sacrifices for long-term gains towards accomplishing our bigger goals that we've set for ourselves. We can be more inventive with how we spend our time so that we're not spending as much money. We can also plan a small break from our sacrifices at certain milestones throughout our journey. These are ways that will help us to better tolerate our sacrifices while we are in the process of keeping our focus on long-term goals, such as paying off our debt entirely.   To stay up-to-date on show updates and bonus content, follow me on Twitter @fmoodpodcast or on Facebook at http://facebo

Are you currently experiencing a true financial hardship yet have a significant amount of medical debt? You may be able to pick up the phone and pay a percentage of the debt and have it considered as paid in full. Please be advised that this is not a foolproof method; some medical providers simply won't participate. However, there are a large number of medical providers who will accept a percentage of the debt as payment in full when someone is experiencing financial hardship.   Before you make the call, you'll want to make sure to have your ducks in a row first. Know the percentage that you can afford to pay in full when you make the call, and be prepared for the medical provider to negotiate a higher percentage if your offer is too low. Also, you'll want to get the agreement in writing. This can be in the form of an e-mail along with an e-mail receipt if the debt is settled immediately, or it can be mailed out to you if the debt settlement is scheduled for a later date.   I will say this once again: this pr

How much are you spending every month on daycare? Are you continuing to work and only seeing a few hundred dollars a month because the rest of your hard-earned money is going to a daycare facility? There's no shortage of daycare facilities, and there's no shortage of parents who need these services.   Be advised that there are alternatives to daycare. I realize that it's not always possible, especially in a situation where a single parent is the sole breadwinner. However, it is best to at least consider some alternatives before you make your final decision on whether or not to send your child to a daycare facility.   As an example, nowadays, the technology exists for many folks who work in an office to work remotely from home from their home computer. You would have to speak with your supervisor about this option. If your current place of employment does not have this in place, you may want to do a little research beforehand to present the option to your boss for consideration. Chances are, there are others w

Find out how you can complete some inexpensive home upgrades that won't break the bank. When we're in the process of getting out of debt, or working on any other personal financial goal for that matter, we can easily get bored of our surroundings. We put a cap on spending, and this limitation prevents us from doing any kind of upgrades in our home. Most of the time, this is because we consider upgrades to our home to equate to spending thousands of dollars.    Well, this simply doesn't have to be the case. You can easily plan some upgrades that should easily fit into your budget, even if you are currently laser-focused on getting out of debt. Most of the projects won't take longer than a weekend to complete, and they will give your surroundings a new look that will keep your spirits up as you continue on your journey to work towards your current financial goals.   To stay up-to-date on show updates and bonus content, follow me on Twitter @fmoodpodcast or on Facebook at http://facebook.com/followmeoutofdebt. T

It's time to celebrate! We have officially saved up our initial $1,000.00 for our starter emergency fund. Needless to say, I'm excited. We started this journey on December 18, 2016, so it has taken us a little over two months to save up our first $1,000.00. We had some setbacks along the way, including a huge setback that happened right before we started this journey to the tune of a $1,200.00 unexpected expense in November. Even with this setback as well as a couple of others, we have overcome them and are ready to begin tackling the debt!   I truly believe that the difficulties that we had experienced were supposed to happen that way. The entire process gave us a thicker skin when it comes to unexpected expenses. It gave us an opportunity to distinguish between what defines an emergency and what doesn't. We now begin the next phase of this journey to get started on the path towards getting out of debt, and I am stoked to finally get the ball rolling.   We have decided to pay off the credit card with the hig

We've all heard the saying that actions speak louder than words. The reason that you've heard the saying before is because it holds true throughout the ages. Gaining knowledge and planning are both important steps when we set out to accomplish a goal, but the result of whether or not our goals are achieved are based completely on the actions that we take.   When we're in the process of getting out of debt, we may be excited about our plans and will talk about them to close friends and family members. You may or may not inspire them to do the same by simply talking about it, however, once people start to see the results of your actions, that is when they are truly inspired. We will also gain much more confidence in ourselves when we take actions to achieve our goals and complete them accordingly.   For updates and more, follow me on Twitter @fmoodpodcast or on Facebook at http://facebook.com/followmeoutofdebt.

Wise (and rich) folks will tell you that everything is negotiable. Whether you are a buyer or a seller, you'll want to brush up on your negotiation skills. Knowledge is power when it comes to negotiating, so make sure that you do your homework before you start your negotiation process. You'll want to have as much organized information as possible before you come to the table, so it is important to plan ahead before you begin any type of negotiation. A general rule of thumb to follow is the larger the purchase, the longer it should take for you to properly plan beforehand.   Negotiations aren't meant to cheat the other party. On the contrary, the point of negotiating is to come to reasonable terms on both sides of the equation. This is true whether you are purchasing a vehicle, buying a home, or even talking to a potential employer about how much your salary will be. The more that you learn to find opportunities to negotiate, the more income you will earn, the less you will spend on purchases, and the more you

Nobody cares more about your money than you do. You are the only one to experience the pain of a poor financial decision or an unexpected expense. On the other end of the spectrum, you are the only one who will experience the excitement when you pay off that first debt (or all of your debt).   Personal finance is personal. It's as simple as that. It applies directly to you, and it affects you positively or negatively, depending on your particular situation. At the end of the day, you need to decide on how you should apply the advice and knowledge that you've gained from various resources. There is no cookie-cutter approach to personal finance. Your situation is unique, and you need to actively apply solutions to your problems in order to follow the correct strategies where it fits in and do what's best for you.   Let's clarify this a little bit. It's not that your friends and family don't care; I do realize that they do. I care about your personal financial situation because you are one of my valued listeners

Is the roof over your head causing you a lot of stress? Is it preventing you from reaching your financial goals? If so, it may be time to consider whether or not you may have purchased too much house.   Generally speaking, you should have a house payment of no more than 25% of your take-home income. If it's in the 30% to 35% range, you're still okay (although this is not ideal). However, if you are in the 40% range and above, you are in the danger zone as far as house payments go, and it's likely that your house is too much of an expense to keep around.   Tune in to listen to some of your options and what you may want to consider depending on where you fall on the spectrum as far as what percentage of your income is going towards your home. Don't forget that aside from refinancing (if it financially makes sense to do so), you can consider becoming a renter. Even if it's only temporary until you get your financial house in order and save up for a huge down payment on a home purchase, it's generally a better so

Many of us have been there, but I will admit that this is the first experience that I've had with this. We recently found damage to our vehicle while it was sitting in a parking lot. The individual who damaged the vehicle didn't leave a note. When I contacted my insurance company, I was a bit surprised to find out that this is the norm. As a matter of fact, I was told that it is very rare for someone to leave a note if they do damage to another vehicle, especially when they don't see any witnesses around.   I'm sorry, but I don't see how this is an appropriate response when we wrong someone else. I feel that we should all own up to anything that we may do to one another that causes harm, whether or not it's intentional or unintentional. I do understand that none of us are perfect, but we should be striving for wanting to do the right thing in any given situation.   I forgive the individual who damaged our vehicle and cost us $500.00 in the process. I understand that perhaps they may have reacted out of fear o

Don't waste time. Three little words that mean so much, but for whatever reason, it's easy to forget sometimes. We have jobs, relationships, etc. that tend to make it challenging to be mindful of how we're spending our time. We get tired. We want to crawl up on the sofa and sit in front of the television and binge-watch Netflix the moment we have a little free time.   When we do this, we're cheating ourselves. We're cheating those close to us. If we're in the process of getting out of debt or any other major goal that we're working on, we should be spending our time on moving forward with our goals. We have to eliminate the time-wasters. Eliminate television. Eliminate social media. Eliminate browsing on the Internet. At least schedule these mindless time-wasters accordingly and after your more important work is finished.   Make the best use of your time. When the day is finished and you get under the blankets to drift off to sleep, you'll know if your time was spent well for the day if you can relax knowing

On today's episode, I'll be talking about budget-friendly vacation tips. We all need a break sometimes. We all need to spend some quality time with our families. We need to relax for a bit and pause our laser-focused intensity of getting out of debt to have a little fun for a while.   I'll talk about how you can accomplish this through hotel savings and discounts, car rental discounts, and how you can save a ton of money on food while you're on vacation (and use it towards other fun things). This is all coming right from the source; this is what we do when we take vacations that allow us to stay within budget and still create great memories, and hopefully this helps you to do the same.   If you liked this show so far, please take a minute to subscribe to the show, rate it, and leave a review. Your positive and kind words are always appreciated.   Visit the http://followmeoutofdebt.com website to read my blog and get my latest status updates on my personal journey out of debt and into prosperity!