5 Tips To Stop Your Emotional Spending Habit

How-To-Reduce-Stress-and-Emotional-SpendingPeople take part in emotional spending for many different reasons. You might have had a bad day at work, a fight with your loved one, and so on. You might even be spending because you are so stressed out about the amount of credit card debt you have racked up.

While a certain level of emotional spending may be acceptable in some cases, it can quickly get out of hand and turn into a problem.

The other day I was watching someone on TV who said that they had tens of thousands of dollars worth of credit card debt due to emotional spending.

This spending may have relieved their stress for a few seconds, but then the reality would always quickly set in that money was a big stressor of theirs as well.

I’ve mentioned this statistic before, but it is one that will hopefully open your eyes. According to NerdWallet, the average household in the United States (who has debt) has an average credit card debt of $15,611. That is an increase of 2.26% from the amount of average credit card debt in a household in the same period in 2013.

While some of this credit card debt may be due to someone having higher expenses than the income they are bringing in, I’m sure that some of it is also due to emotional spending.

Below are my tips to finally kick your emotional spending habit. [Read more…]

Personal Capital Review – An Easier Way To Manage Your Finances

Personal Capital Review - Free Personal Finance SoftwareHave you ever heard of Personal Capital? If not, today I am here to talk all about their product that I personally use in this Personal Capital review.

Personal Capital provides FREE personal finance software that is somewhat similar to Mint.com, but better. If you like using Mint, I recommend checking out Personal Capital.

Quick summary of what Personal Capital is – their free personal finance software allows anyone to better manage their finances by allowing users to aggregate their financial accounts. You can connect accounts such as your mortgage, bank, credit cards, investment portfolio, retirement, and more, and it is all FREE. You can track your cash flow, your spending, how much you’re saving, and how your investments are doing. With their free financial software, you can see all of your accounts easily in one place so that you can manage everything easily.

And I’ll say it again. It’s free and there’s no catch!

As you know, I’m all about making your finances as simple as possible so that you can focus on more important areas. Personal Capital allows you to manage all areas of your financial situation all in one place.

You can use Personal Capital via your computer, a tablet, cell phone, and even a smart watch, which makes it great because you can stay up to date on your finances no matter where you are. [Read more…]

Do You Need A Budget?

4 Reasons For Budgeting - Reasons For Preparing A BudgetThere are many reasons for budgeting, yet it seems like the majority of people still do not have one.

In fact, according to a poll by Gallup, two-thirds of households do not have a budget.

I believe budgets are extremely important and that nearly everyone should have one. Rich, poor, middle-class, or whatever you are, a budget can most likely help improve your financial situation.

I’ve been asked several times why I have a budget and that I must have money problems since we track our cash flow and our spending. I’ve even had people offer to lend me money before when I have brought up anything relating to the word “budget.”

For some reason, there is a negative connotation attached to the word “budget.”

There’s a myth out there that only people who are “bad” with money need a budget.

However, this couldn’t be further from the truth. Considering that the average person saves no where near the amount needed to retire, creating a budget should be on more family’s to-do lists. [Read more…]

How To Change Your Life And Live Your Dream Today

How To Change Your Life And Live Your Dream TodayWhether we are talking about changing your financial situation or changing your lifestyle, there are many ways to start making changes in your life so that you can start living the life you want to live.

Learning how to change your life doesn’t have to be hard.

You can start off small and gradually move onto bigger changes. Or you can make one big change and start living your dream life even sooner.

Everyone has some sort of change they want to make in their life.

Maybe you want to travel more, learn another language, start your own business, get out of debt, be in shape, retire, or something else. Whatever the words “dream life” mean to you, there are ways for you to eventually get there.

Below are my tips on how to change your life today. [Read more…]

How Your Credit Score Impacts Your Home Buying Process

How Important Is A Credit Score To Buy A HouseYour credit score is so very important. Like I said in the post How Your Credit Score Affects Your Life + Credit Sesame Review, your credit score has the ability to impact all areas on your life whether you want it to or not.

Some are completely against credit scores and think they can just do without trying to improve their score, but I don’t think that’s the correct way to go.

Your credit score can impact all areas of your life, such as obtaining a job, waving additional deposits when signing up for new bills (such as utilities), renting a home, and probably most important of all – obtaining a mortgage and buying a home.

Even though it can make such a large impact on your life, your credit score can be quite easy to improve for the better, so why not just do it?

So, how important is a credit score to buy a house? 

Answer: It is very important!

The needed credit score to buy a house can vary a little, but the higher your credit score the better. When you are in the 620 to 720 range, you may come across some problems as stated later in this post.

You can check your credit score for free with Credit Sesame. Click here to find out what your credit score is!

Below are different ways your credit score can impact your home buying process. [Read more…]

6 Ways I Saved Money On College Costs

How Much Does College Cost College Costs A College Budget

How much does college cost? This is a question many wonder. There’s rarely a week that goes by where I don’t receive an email from a student or parents of a student who are looking for ways to cut college costs. That’s why today I want to talk about college costs and how you can create a college budget that works.

College is very expensive – there is no doubt about that.

However, I want you to know that it IS possible to get a valuable college degree on a budget!

The average public university is over $20,000 per year and the average private university totals over $45,000 once you account for tuition, room and board, fees, textbooks, living expenses and more.

Even with how expensive college can possibly be, there are many ways to cut college expenses and create a college budget so that you can control rising college costs.

Continue reading below to read about the many different ways I cut college costs. While I was not perfect and still racked up student loan debt, I did earn three college degrees on a reasonable budget.

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