Creating a budget can lead to a lot of emotions: fear, frustration, anger, guilt, anxiety; but it can also lead to calm and contentment. A written budget tells your money what to do for you. This control over your income and outgo, is the key to achieving financial peace.
Who:
Every adult family member needs to be involved in the budget process, whether they contribute an income or not. It’s important that each person’s voice be heard and their vote count. One person may create...
Personal Finance 101
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Expanded Baby Steps
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- 0 comments
Expanded Baby Steps
While Dave Ramsey’s Seven Baby Steps have formed the map to financial freedom for many, the members of the forums have used their experience to expand the basic steps into ‘turn-by-turn’ directions.
0.1: Commit to never borrowing money ever again, other than possibly a house.
Getting out of debt and remaining debt free is the underpinning of Dave Ramsey’s plan for financial peace. That begins with a commitment to never borrowing money. Dave does make an exception for mortgages... -
Dave Ramsey's Baby Steps to Financial Freedom
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- 0 comments
Dave Ramsey's Baby Steps to Financial Freedom
Dave Ramsey believes that by following his Seven Baby Steps people can achieve Financial Peace. Eliminating debt, saving for the future and paying off your home are all financially important goals, but trying to do them all at once will dilute your efforts. The Baby Steps plan works by focusing all your energy--and income--on one of these goals at a time.
Baby Step 1: $1,000 in an emergency fund
You might be tempted to skip this step and jump to paying off your debt, but... -
Saving is Not One-Size-Fits-All
- 0 comments
Saving is Not One-Size-Fits-All
Saving is a fundamental part of the Baby Steps. That may sound counterintuitive for a program intending to eliminate debt since any money going to savings is money that's not paying off debt. In reality, it's the savings which permit the gazelle-intense, laser-beam focus on paying off debt. It isn't saving done without a purpose, however; how much is saved and why it's saved varies as the different Baby Steps are achieved.
The very first Baby Step of the get-out-of-debt plan isn't even... -
What Steps To Take When A Family Member Dies/Is Dying
1. Try to plan everything in advance if possible. Grief makes dealing with loss hell. When my dad was told that he had 3 months to live, I went to the funeral home and planned everything beforehand.
2. Try to get siblings on the same page. Family fights while planning funerals makes the process worse. The corollary to this is to have open dialogue with the loved one and know what their wishes are. This also ties into #3.
3. Know where any life insurance policies and Social... -
The TRUE COST of buying a new home
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The TRUE COST of buying a new home
You found the home that interests you. You want to see the property and possibly make an offer. Now what?
Do not just pick any realtor. Talk to friends and family who have bought and sold homes. Who do they recommend and why? Remember, realtors, are paid by commission. Does this realtor have your best interests in mind, or does he or she march to the tune of that commission check? Those types of realtors are to be avoided. They will try to make the sale at any and all costs to YOUR...
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Latest Articles
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-
Creating a budget can lead to a lot of emotions: fear, frustration, anger, guilt, anxiety; but it can also lead to calm and contentment. A written budget tells your money what to do for you. This control over your income and outgo, is the key to achieving financial peace.
Who:
Every adult family member needs to be involved in the budget process, whether they contribute an income or not. It’s important that each person’s voice be heard and their vote count. One person may create...-
Channel: Personal Finance 101
01-04-2025, 06:57 AM -
-
While Dave Ramsey’s Seven Baby Steps have formed the map to financial freedom for many, the members of the forums have used their experience to expand the basic steps into ‘turn-by-turn’ directions.
0.1: Commit to never borrowing money ever again, other than possibly a house.
Getting out of debt and remaining debt free is the underpinning of Dave Ramsey’s plan for financial peace. That begins with a commitment to never borrowing money. Dave does make an exception for mortgages...-
Channel: Personal Finance 101
01-04-2025, 06:50 AM -
-
Dave Ramsey believes that by following his Seven Baby Steps people can achieve Financial Peace. Eliminating debt, saving for the future and paying off your home are all financially important goals, but trying to do them all at once will dilute your efforts. The Baby Steps plan works by focusing all your energy--and income--on one of these goals at a time.
Baby Step 1: $1,000 in an emergency fund
You might be tempted to skip this step and jump to paying off your debt, but...-
Channel: Personal Finance 101
01-04-2025, 06:38 AM -
-
Saving is a fundamental part of the Baby Steps. That may sound counterintuitive for a program intending to eliminate debt since any money going to savings is money that's not paying off debt. In reality, it's the savings which permit the gazelle-intense, laser-beam focus on paying off debt. It isn't saving done without a purpose, however; how much is saved and why it's saved varies as the different Baby Steps are achieved.
The very first Baby Step of the get-out-of-debt plan isn't even...-
Channel: Personal Finance 101
01-04-2025, 04:48 AM -
-
1. Try to plan everything in advance if possible. Grief makes dealing with loss hell. When my dad was told that he had 3 months to live, I went to the funeral home and planned everything beforehand.
2. Try to get siblings on the same page. Family fights while planning funerals makes the process worse. The corollary to this is to have open dialogue with the loved one and know what their wishes are. This also ties into #3.
3. Know where any life insurance policies and Social...-
Channel: Personal Finance 101
01-04-2025, 04:28 AM -
-
You found the home that interests you. You want to see the property and possibly make an offer. Now what?
Do not just pick any realtor. Talk to friends and family who have bought and sold homes. Who do they recommend and why? Remember, realtors, are paid by commission. Does this realtor have your best interests in mind, or does he or she march to the tune of that commission check? Those types of realtors are to be avoided. They will try to make the sale at any and all costs to YOUR...-
Channel: Personal Finance 101
01-04-2025, 04:23 AM -