Budgeting Is Dead

If you’ve heard it once, you’ve heard it at least twelve hundred times: In order to master your finances you must have a budget.

What is a budget, anyway? In the traditional sense, it is an amount you set as a limit for a certain category of spending. In the practical sense it is a way to set a theoretical amount of money you will spend on certain things.

In an even more practical sense, it is a way for you to make yourself feel like a loser every month.

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How To Save Money

Here are three widespread savings myths that are derailing your goals and how to stop them.

Saving money is already hard enough. The threat of misinformation just makes it harder. I want to reveal three surprisingly popular myths that keep you from reaching your savings potential, and then provide you with a few ideas about how to really ramp up your savings game.

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5 Ways to Beat Financial Stress

Do you want to get more done at work or at home? Want to get ahead and make more money? Find ways to get rid of financial stress! Read more to find out how!

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How to Be Wealthy

What is wealth, anyway, and how do we get it? When is someone actually considered wealthy? The word “wealth” often conjures images of celebrities, CEOs, nice cars, and luxury items (caviar!). The common conception is that once you have a certain amount of money, or start living a certain lifestyle you’ve become wealthy, but that isn’t always the case. Read on to find out more.

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Live Large, Save Big – Sushi at Home

Sushi.
Just saying it feels expensive.
A night out at the local sushi joint with the pals can easily rack you up a $60+ bill. Ouch.
Can a similar meal be had for less? Absolutely! Read on to find out how!

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Dealing With Detractors

There are plenty of people who will try to dissuade you from seeking financial security through debt freedom.

These people might say things like:

  • Debt is just a way of life
  • Debt is a tool that will let you get what you want
  • All the successful people use debt to get ahead
  • The only way to get an education is to use a student loan
  • Everyone pays on their student loans for twenty years, it’s just the way it’s done
  • If you don’t have debt (credit cards and student loans), you’ll never be able to buy a… (house, car, business, etc.)

Unfortunately these people have bought into the big lie that you need to be a slave to be successful. I’ll let you in on a secret: the only way to be successful is to be free. Take a look at the lives of the most successful people, they are masters of their finances, and don’t rely on debt to buy things they want and need. Instead, they rely on work (or their money working for them in the form of assets). Many people who are “living rich” through their possessions and their stuff are not rich on paper, but they encourage others to leverage themselves to the hilt, borrowing money to live like they do using excuses like the ones above. This is not wise.

Don’t listen to people who are “stuff rich” but cash poor. Instead, listen to your heart and good sense. If you feel like you have to borrow to get something, take a minute to think about if that thing is worth having and how it will be beneficial to you over the long term. New car on credit? Probably not, when you can get a good used car for 75% less and pay cash. The latest fashion on a store card? Probably not either, when styles change, but your monthly payments remain. You can get classic, timelessly stylish clothes at a discount somewhere else.

When you destroy your debt, your money is yours again. You get to decide where it goes and how it works for your life. You want a new (fill in the blank), and you have the money? Think about it, then get it if it is a good thing to do. Take the high road to success and know that you have put in the work to earn those nice things. Borrowed wealth doesn’t last, but real wealth can last for generations.

When people confront you along your journey to financial freedom with negativity, take it with a grain of salt (they may not know any better). Remain firm in your conviction to freedom, and stay the course. You’ll thank yourself later.

Until next time,
Do Brave Deeds and Endure!
– Ben at Debt Freeks

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Pay Off Student Loans 3x Faster With One Simple Trick

Are you a student in Oregon with student loans and a part-time job? You could pay off your loans three times faster than your peers by doing just one thing. Let me fill you in on this little secret.

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Know Your Student Loan Options – Don’t Pay For Free Information

Debt Freeks is excited to share this important information: the US Department of education declared January 5th a day of action for people to learn about their student loan options.

Unfortunately, there is a lot of misinformation floating around about how to get help paying off your student loans. There are also many companies that offer you assistance with setting up a payment plan with your lender. The problem is, they will charge you to do this when you could do it by yourself, for free, and in less time. Irritatingly, disreputable companies are happy to take your hard-earned money to give you information that is freely and readily available. Take my advice, and just go right to the source.

Check out StudentAid.gov/repay to learn about the different payment plans available, get tools and tips, and find out if you qualify for loan forgiveness and relief programs. Share this information with other people who are paying off student loans too, so they don’t get ripped off.

Remember that Debt Freeks will never charge you to access free information. Debt Freeks’ personalized financial coaching service is about empowering people through the process of achieving debt-freedom. Finding new ways to look at old problems is what we do, and we have your best interest in mind each step of the way. We can show you how you can give yourself a raise by re-working your budget and exceeding the bounds of payment plans that you already have.

Until next time,
Do Brave Deeds and Endure!
– Ben at Debt Freeks

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7 Ways to Stick to a New-Year’s Resolution

Do you have a resolution you want to stick to this year? Maybe you have a fitness goal, a relationship goal, or some professional progress you want to make. Perhaps you want to finally get rid of those stubborn student loan payments. Make 2017 the year you achieve your goals and get started living the life you want.

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How To Win As A Student

You may have heard that student loan debt has surpassed credit card debt in the United States and totals over one trillion dollars nation wide. That’s a big number. Read on to find out how you can avoid becoming a student loan statistic.

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