I swear there is a something in your DNA that determines whether you’re frugal or spendy. I definitely have the spendy gene. That doesn’t have to be a bad thing though. As they say, the first step is acceptance. Understanding yourself as a spender will let you build up an arsenal of tools to counteract that. And budgeting is a big part of that.
If you’re ruling your own kingdom and try to apply another king’s methods to your kingdom, it’s not going to work because your kingdom is different. Your kingdom is your finances.
The first thing we had to do, once I added up all the debt, once I had my UGH-Sick-and-Tired Moment, we had to get real with our spending. So, I needed to see where exactly all this money had gone. We don’t live in the lap of luxury. Yeah, we have a flat screen television. The couch behind me? Bought that secondhand. Fancy car in the driveway? Nah, at the time we were driving an ’07 Honda Odyssey minivan. We really didn’t have anything to show for the almost-$60,000 in debt that we in fact had.
For many people, the end of the year is a time to reflect back on the last twelve months and make resolutions for the …
We didn’t see the signs of the coming crisis. No one did. We were just a young family, busy living our lives.
Those were the kind of decisions that I then started to make as I realized that this debt is gonna be gone: what now, where do I go with my life after debt, what does that look like for me? And for me, it was really figuring out what success looks like for me, what things that I value, and why am I doing all of this? Now that the debt is paid off, what now?
A lay off, contract gap or sabbatical all have you paying expenses with no income coming in. I’ve been faced with all of these situations and the main difference, assuming you have emergency funds set aside, is more psychological and what you do next.
Urban Ministries of Durham serves over 6,000 people every year. But you’d never need help, right? Prove it.
Having cash helps us sleep at night. It allowed us to survive my husband’s job loss, sick pets, and car troubles. Saving money doesn’t come naturally to us, but memories of having $100 dollars in the bank with a mountain of debt kept us motivated.
I don’t feel good unless I’m growing and being challenged and learning new things.
I was set on learning everything so I could beat these banks at their own game.
I’m building a habit and I recognize that I will have to work on mindset every single day.
Money is easy to spend and hard to save. But there are a few things you could do to make it a little bit easier to save money.
We are here to help you continue your debt journey… because it can be a long one!
About 78% of full-time workers are living paycheck to paycheck, according to a recent poll, even while earning a decent salary. However, since they do not know what exactly they are spending on, most people end up throwing away money that could have been saved.