Tag Archives: getting out of debt

Our MultiFamily Yard Sale

Yesterday, we had a big multi-family blow out yard sale. Six different families gathered on one lawn to display our wares. It was unlike any other yard sale that I have ever done, and I learned a few things along the way. Coordinating a Multi Family Sale There are special considerations to deal with when you are trying to coordinate multiple families into your yard sale. There are a lot of positive benefits to having a multi family sale, especially if you live in a semi-rural area, such as we do. Larger sales will bring out the shoppers, and I … Continue reading →

Getting Out of Debt: Paying Off the Car

I really can’t believe that we are going to do this. Several weeks ago, we just assumed that we had to have a car payment. When our youngest child was born, a larger car was a practical necessity because three car seats wouldn’t fit across the back of our old car. So we made a purchase and wound up with car payments. We do love this car. It has given us minimal trouble and maximum flexibility for our family. We don’t love having the car payment or paying the almost $50 a month in interest on the loan. But as … Continue reading →

Getting Out of Debt: How Did We Do?

Our goal in 2011 is to get out of debt and start building wealth. We have been taking Dave Ramsey’s Financial Freedom course and have been really motivated to be more purposeful with our money. If you have been following our adventure so far, you know about the ups and downs that we have been facing, from unexpected expenses to accounting groceries down to the penny. march was our first full month working with a zero-based budget, and I am happy to say that not only did we get through it but we actually spent less in some areas than … Continue reading →

Getting Out of Debt: The Zero Based Budget and the CSA

Follow us as we get out of debt and be more purposeful with our money! This week, we are struggling with nailing down the zero-based budget and running into a couple of unexpected snags. Dave Ramsey recommends keeping track of your money with a zero based monthly budget. This means that you track every bit of income and expenses for the month, down to the penny so that there is nothing left over. This doesn’t mean that you spend everything, just that all of your money has a home, whether it is to pay off the electric bill or to … Continue reading →

Getting Out of Debt: It Begins

My husband and I are furiously trying to get out of debt. We just started Dave Ramsey’s Financial Freedom course and have learned a lot about doing just this. Follow us on our journey as we try to follow the plan and meet our goals. If you are thinking of taking the course, I highly recommend it. Even though my husband and I are pretty well practiced at saving money, we have already learned so much more than we thought we knew. While some weeks speak to us more than others, each weekly lesson has something that we take from … Continue reading →

Are Your Frugal Efforts Going Down the Drain?

If you have been practicing frugal living but you still haven’t seen a difference in your savings or aren’t getting ahead, it could be that some of these efforts are being offset by other expenses that are either a direct or indirect result of your frugal living efforts. Have you ever heard the expression, “Robbing Peter to pay Paul?” This is an expression I have heard many times growing up. Basically it means that you are taking money (or efforts) from one place and applying them to another, without ever really getting on top of things. The expression can apply … Continue reading →

RS/EQ: Provident Living – Applying Principles of Self-Reliance and Preparedness

Lesson #11 in our Spencer W. Kimball manual this year was entitled, “Provident Living – Applying Principles of Self-Reliance and Preparedness.” President Kimball had the opportunity to work both at a bank and a store before his call to the apostleship, and he was awestruck at the amount of things people bought on credit. (In this lesson, he uses the phrase “on time,” meaning that the payments would be made over time, but I prefer to say “on credit,” so as to be perfectly clear.) He said it amazed him to see people walk down the street wearing clothes and … Continue reading →

Are You Considering Moving in with Your Parents to Save Money?

There are various financial reasons that you may consider moving in with your parents for a short period of time. Usually it involves saving for a house or paying for college. It may be so that you can get out of debt more quickly. It can be very difficult to move into someone else’s household. It can also cause strain on an otherwise good relationship. If this is a choice that you feel you need to make here are five tips to help make the process more positive. 1) You need to sit down and set up boundaries. This includes … Continue reading →

Thermometer Debt Reduction

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Need a way to get control of your spending and reduce debt? Read on to see what our family has done to turn getting out of debt into a sort of game. You may be curious what it has to do with a thermometer, but you’ll have to start at the beginning. Here are the steps that you need to eliminate debt with the thermometer method: 1. Total your debt. The first step to getting rid of debt is totaling the amount of debt that you actually have. You should decide which debt you are concerned about eliminating at the … Continue reading →

The Debt Diet Families

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Last Friday, Oprah aired a new show about her efforts to help American families who are living in a debt crisis. Unfortunately, that includes too many of us. If you are living with debt, whether it is a manageable or insurmountable amount, the stories of the families on Oprah’s show can be inspiring. The show that aired Friday is the fourth in a series following families who are struggling with an overwhelming amount of debt. The surprise might be that on the outside, these families seem to be living very comfortably. They drive fancy cars, live in big houses, and … Continue reading →