Debt Snowball an Extra Dollar a Day

What would happen if you added an extra dollar per day to your debt snowball? Let’s take a look and find out….. One dollar per day comes out to be $365 per More »

What is a Debt Snowball?

A debt snowball is a method of paying off debt where the debtor lists all of their debts from smallest to largest. The debtor then pays off the smallest debt as quickly More »

Keys to Successful Budgeting

Successful budgeting is essential to paying off debt quickly. You will be surprised to find out how much faster you can pay off your debts just pay having a successful budget. The More »

Tips for frugal living

Guest Post: The awesome twosome – Frugal living and budgeting

Frugality perhaps is one of the best strategies which can help you live a smart life. So, if you want to avoid a debt ridden life, you will not only be required to budget. You would also be required to couple this with frugal living strategies, so that you can go on to save more than before. Frugality helps you learn how to live a smart life, without incurring too much in debt. you can better your chances of improving your savings and finances, by using a personal budgeting software.

Mastering a frugal life

Money saving isn’t actually as tough as it seems to be. You will only be required to lead a disciplined life and pick up the tricks, from everyday ongoings of life. So, some of the money saving tips are:

1- You can save money on water - You can save up money on water. Rather than using your dishwasher, it would be better to wash the dishes of your own. This is going to help you in saving lots of water everyday. While brushing your teeth, it is wise to turn the tap off. This helps in avoiding usage of excess water, or rather wastage of water.

2- You can save money on electricity – If you hand wash the dishes, you can not only save on the water, but also on electricity. In addition, it would be wise of you to install a power saving strip in your home. This is a very powerful tool, which helps in switching off the electrical items when not in use. However, with the installation, you will have to link the items with the power saving strip. Install large windows so that more air and light comes in during the summer season, thereby lowering the usage of the A/C.

3- You can save money on gasoline - Rather than always driving to your destination, if possible, it is better to walk the distance. This is going to help you in saving on the gasoline. This also helps you stay fit and healthy, thereby reducing the medical costs. For example, if you are going to the local market, take the walking route rather than driving to that place.

4- You can save money on entertainment – If you have a subscription with a magazine brand, do away with that. It is better to surf online. In addition, opt to get the services from a single service provider, rather than from different ones. If you opt for a combo pack service, they offer huge discounts.

5- You can save money on food - It is never wise to waste money. So, use the leftovers to cook up some new dish, rather than throwing those off. It also is good to brown bag your lunch, rather than having food from outside.

Penny pinching does not mean that you will have to turn a complete miser. You rather learn to be more responsible than before. It is all about spending less and saving more, so that you can lead a secure life later on. It definitely does not feel good when creditors or collection agencies call you up for money owed. It also does not feel good to borrow money at every instance, or even during the emergencies. If you follow the above frugal tips, you will get to save more everyday and even device newer tips suited to your everyday life.

Author Bio - Allen Rey is a financial writer who has expertise in dealing with financial issues. He loves to contribute financial write ups to websites and blogs so that he can help people who are struggling with financial worries. He is also associated with some financial communities like Debt Consolidation Care.

Things to consider before going into debt

Things to Consider Before Going into Debt

Before going into debt there are a few things that everyone should consider. Taking on debt is a major responsibility that should always be taken seriously. If you are thinking about getting a loan anytime in the future, take a look at these key points that you should consider beforehand.

1- Is the debt necessary? Could you possibly pay for the item with cash? Could you save up enough cash in a reasonable amount of time in order to skip going into debt completely? Maybe you are buying a new car….could you get a cheaper car in order to pay with cash or get less debt? Are you getting student loans? Maybe you could consider getting a job during school so that you could get a smaller amount of loans. I am not saying that all debt is unnecessary. I agree, that in many cases debt might be the only way, but in all cases possible it is best to get only the amount of debt that is necessary.

What is a Debt Snowball?

Check out our new movie that quickly explains what a debt snowball is!!! Let us know what you think!