Thrifty Thur$day

Ah… the beginning of a new month, lots of possibilities and opportunities.  I’m currently training for my financial coaching certification (yes, it has been certification central in my life for awhile now).  One of the hardest muscles to train, as we’ve talked about in previous posts, is that money muscle, aka the “Spend It” thrust, when you give your debit or credit card to your local store owner.  Often overused, instead of giving you a lean and mean budget, this exercise (in futility) often starves your bank account and savings into a wimp with no CENTS!

Shaking your head yes?  Um-hummm… you know the pain and guilt and anxiety of not being where you want to be financially and perhaps being overwhelmed about how to do damage control and get your financial life back on track and healthier than ever.  A big part of our lives deals with money and expenditures, so let’s face it head on and start the clean up process.  It may be a little scary, but it’s better to know that to be a financial “Avoider” personality and just shoving those bills off in the corner, hoping by some miracle tomorrow they will be gone like the wind. 

Let’s begin simply.  Take a deep breath, and let’s gather all your debt information into one place so we can begin a debt elimination plan.  Click HERE for a debt elimination calculator where you can plug in all your creditor information, balances, interest rates, etc.  You will then be able to create a personal plan to pay off your debts.  It may surprise you!

I also highly recommend Dave Ramsey’s “Financial Peace University” workshops, which are a great way to learn a great deal about how to manage your money.  He’s got a very informative website as well – click HERE to surf over and check it out.  He offers tools to help you create a budget, understand debt and begin working towards financial peace.

There is something very freeing about beginning the process.  Once you have created a workable plan for yourself there is a sense of empowerment and hope.  You can do this.  You won’t be in debt forever.  Work those money muscles, wild women – you can do it!!!!!

Blessings,

Linda

Frugal Friday - Cash In Your Plastic and Go Green!

In a article I read recently by Dave Ramsey (creator of Financial Peace University, Total Money Makeover and financial expert), he noted that in a study of credit card ue at McDonald's (yes, McDonald's), people spent 47% more when using credit instead of cash! "Oh yeah, I'll have off the dollar menu... oh wait! I have my credit card -- supersize everything!!!! (including my debt) For further information, please go to his website at www.daveramsey.com.

I'm the first one to admit that it is waaaaaay easier to overspend when I am zipping that budget-bustin' piece of plastic through that little magic machine, whether I'm practicing shoe therapy, clothes therapy, book therapy, any other kind of retail therapy, or just at the grocery store. But put a real-live $20 bill in my hand, with the knowledge that when that's gone, therapy is over, well, then I am the mindful model of frugality.

So what's today's challenge? Take a deep breath, figure out how much spending you'll be doing this weekend, go to the bank and get that amount of cash, and then step awaaaayyyyyy from the debit and credit cards this weekend and GO GREEN! Only use cash! I know, you may have some withdrawl symptoms (hands shaking as you put an item back on the shelf, inability to let go of the money and getting into a tug-of-war with the clerk at the counter, depression and sudden burts of tears when you must walk out of the store empty-handed, just to name a few). It's not pretty nor easy, but it can be done, I promise! Been there, done that, DIDN'T buy the tee-shirt!

So go for it, be radically resourceful, rebel with a dollar left over, and leave those cards at home. Please comment and let me know how it went for you!