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femmefatalevibe · 9 months
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Hi Femme!
Hope your day is going well! Just a quick financial question: how can I save up while paying off credit debt (🙃) and paying bills off?
I’m working but I’m only getting paid $15 ! And I’m also planning on saving for moving out. But I feel like it’s impossible. I want to build up a good savings account but I’m new at it as well.
Thank you!
Hi love! This is a vague question as I have no clue as to how much you make per month, what your monthly expenses are, the debt you've accrued, or the interest rate & terms of your credit card debt. Here are my general tips, but please note that I'm in no way a professional. Please contact a CPA for personalized, expert information on how to move forward with your financial life. Some high-level tips are below:
Track your income & expenses. Know exactly how much money is coming in and going out every month, so you know how much of your income is going towards your monthly expenses.
Do an audit of your expenses. See how much of your expenses are essential purchases. Without rent or utilities, I would imagine these are quite low (I don't know if you pay for any food at home, though).
Know exactly how much debt you're in and the interest rate of all of your debts.
Determine how much of your monthly income goes towards these essential expenses. Subtract this number from your post-tax income. Multiply this number by 3 to 6. This is the emergency fund savings you need in case any unforeseen expenses/job loss occurs. Use this information to determine your debt payment and savings timeline. Personally, I believe you should have at least a month of savings available for use before committing to paying off existing debt. This way, you don't accumulate more debt in the process of trying to get out of the debt you've already accrued.
Create a timeline with a self-assigned monthly payment plan to pay down your debts. When it comes to consumer debt, I believe outside of a small 3-month emergency fund, it is best to be as aggressive as possible to pay it down, especially if you're living at home.
For your savings, I HIGHLY recommend putting this money in a high-yield savings account.
Hope this helps. Best of luck xx
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leveluponabuck · 10 months
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She did that
Even though it may be sad, many of us are starting to realize that student loans are not going to be paid off. Before the pandemmy I had over $16,355 in student loans. And like many others I didn’t receive a degree from the loans I took out. After talking with a neighbor and just thinking about my life. I decided to start paying them while they had no interest. I started paying off my debt in March. Keep in mind I am not a high earner (yet) and as of this day 6-15-23 I only have $6,957 left to pay off. I worked so much overtime. I didn’t buy new clothes. I don’t have a sugar daddy. I didn’t side hustle myself to death. I didn’t start a business. I didn’t scam anyone. I JUST WORKED MY 9-5. It was hard, but I will be done paying of my loans before September. I will be writing a post of how and why I decided to take this path. I may even start posting on TikTok. I want to be more open and I stepped away from this platform because I was struggling with some personal issues. Idk if anyone will read this, but if anyone does I want to just say, just start! Whether it’s student loans, taking charge of your health, making meaningful relationships. Just start you’ll mess up and when you do keep going. We’re all human, mess ups happen, and even giving up temporarily by taking breaks. But don’t don’t give up forever you got this! Till next time. Level Up on a Buck, but don’t stay stuck! >>>>> NEXT MANIFESTATION, OR MONEY GRAB?
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Fundraising for some debt relief for my wife and myself !!
TL;DR
We’ve been in debt a long time. We want out. We’re trying to improve our future by working it out now but we could use a little help !!
Looking to shovel ourselves out by the end of the year !! Anything helps including shares !!!
Need: $18,500
https://gofund.me/11c4ba7a
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wandringmind · 1 year
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Hi guys, follow me on my debt free journey?
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lethalgadgets · 8 months
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Credit Card Consolidation: 4 Top Tips to Manage Your Debt Effectively
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montreyh · 9 months
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yourfinanceacc · 10 months
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Traders reaction on tiktok #shorts
🔔Subscribe to the channel for tips & strategies for managing money & achieving financial independence: https://www.youtube.com/@your_finance_account/ ✅ Stay Connected with Us. 👉Twitter: https://mobile.twitter.com/your_finance_?t=rr4nnhz-e3j1KAtHHwWc-w&s=09 ✅ For Business Inquiries: [email protected] ============================= ✅ Recommended Playlists 👉 Motivational Videos https://www.youtube.com/watch?v=RcFJAHHVBMw&list=PLYxqx3-R5Rlg6uJu6hzoH1RmzhFl1lRJB 👉Videos about finance https://www.youtube.com/watch?v=NfDTd6CpFyk&list=PLYxqx3-R5Rlh2BGPUCJoij3xX1MiSxRNJ ✅ Other Videos You Might Be Interested In Watching: 👉Expert tips for saving a massive down payment and Achieving Your homeownership dreams https://www.youtube.com/watch?v=D_Xjr5q6M_0 👉How to become a Billionaire like Jeff Bezos in 2023 https://www.youtube.com/watch?v=0495kUXBGkE 👉BEST WARREN BUFFET SPEECH THAT WILL CHANGE YOUR FUTURE IN 2023 https://www.youtube.com/watch?v=aSsFFed9tdo 👉Unlock the Secrets to Billionaire Success: 6 Expert Tips to Achieve Billionaire Status! https://www.youtube.com/watch?v=c5iRreERdHE 👉The ultimate top 10 money-earning apps without investment in 2023 https://www.youtube.com/watch?v=mi0qULllG8A ============================= ✅ About Your Finance. Welcome to Your Finance channel, where we empower you to achieve financial freedom. Our mission is to bridge the gap in financial education and equip you with the knowledge and tools needed to take control of your finances. From saving and investing strategies to budgeting and debt management, our team of experts will guide you every step of the way. Join us on this journey to financial stability and independence. Subscribe now and hit the notification bell to stay updated on all things finance. Your financial success starts here! For Collaboration and Business inquiries, please use the contact information below: 📩 Email: [email protected] 🔔 Subscribe to the channel for tips & strategies for managing money & achieving financial independence: https://www.youtube.com/@your_finance_account/ ================================= #budgetingtips #personalfinance #moneymanagement #financialplanning #savingsplan #financialfreedom Disclaimer: We do not accept any liability for any loss or damage incurred from you acting or not acting as a result of watching any of my publications. You acknowledge that you use the information I provide at your own risk. Do your own research. Copyright Notice: This video and my YouTube channel contain dialog, music, and images that are the property of Your Finance. You are authorized to share the video link and channel and embed this video in your website or others as long as a link back to my Youtube Channel is provided. © Your Finance https://ifttt.com/images/no_image_card.png https://www.youtube.com/watch?v=bq0bSBudHn0
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clickslifestyle · 11 months
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How to increase your traffic to your website
#money #wealth #views #sidehustles
Building traffic to your website is an essential aspect of any successful online business. Generating high-quality traffic can increase your brand visibility, enhance your search engine rankings, and ultimately lead to more sales. It requires a strategic approach, 1. Optimize for search engines – use keywords, meta tags, and descriptions to help your website rank higher on search engines. 2.…
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View On WordPress
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the-rushit-mind · 11 months
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How to Get Out of Debt in 5 Simple Steps
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Debt can be a huge burden on your finances, your mental health, and your quality of life. It can feel overwhelming and hopeless to deal with, especially if you have multiple debts with high interest rates and fees. But don't despair, there is a way out of debt if you follow these five simple steps:
Step 1: Assess your current situation
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The first step to getting out of debt is to know exactly how much you owe, to whom, and at what interest rate. You can use a spreadsheet, an app, or a pen and paper to list all your debts, including credit cards, loans, overdrafts, and any other liabilities. Write down the total balance, the minimum payment, the due date, and the annual percentage rate (APR) for each debt. This will help you see the big picture and prioritize your payments.
Step 2: Make a realistic budget
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The next step is to create a budget that reflects your income and expenses. A budget is a plan for how you will spend your money each month. It will help you track your spending habits, identify areas where you can save money, and allocate funds for debt repayment. To make a realistic budget, you need to:
- Record your income: Write down how much money you earn each month from all sources, such as salary, bonuses, tips, etc.
- Record your expenses: Write down how much money you spend each month on all categories, such as rent/mortgage, utilities, food, transportation, entertainment, etc. Be honest and include everything, even the small things like coffee or snacks.
- Subtract your expenses from your income: This will give you your net income or cash flow. This is the amount of money you have left over after paying for your essential needs. Ideally, this should be a positive number that you can use to pay off your debt faster. If it is a negative number, it means you are spending more than you earn and you need to cut back on some expenses or increase your income.
Step 3: Choose a debt repayment strategy
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The third step is to decide how you will pay off your debt. There are two common strategies that you can use:
- The snowball method: This method involves paying off the smallest debt first while making the minimum payments on the rest. Once the smallest debt is paid off, you move on to the next smallest debt and so on until you are debt-free. This method can help you build momentum and motivation as you see your debts disappear one by one.
- The avalanche method: This method involves paying off the debt with the highest interest rate first while making the minimum payments on the rest. Once the highest interest debt is paid off, you move on to the next highest interest debt and so on until you are debt-free. This method can help you save money on interest and pay off your debt faster.
You can choose either method depending on your preference and personality. The most important thing is to stick to your plan and pay more than the minimum whenever possible.
Step 4: Negotiate with your creditors
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The fourth step is to try to negotiate with your creditors for better terms. You may be able to lower your interest rate, waive some fees, extend your repayment period, or settle for a lower amount. This can help you reduce your debt burden and pay it off sooner. To negotiate with your creditors, you need to:
- Contact them: Call or write to them and explain your situation and why you are struggling to pay off your debt. Be polite and respectful and ask for their help.
- Make an offer: Propose a solution that works for both of you. For example, you can ask for a lower interest rate in exchange for making larger payments or a lump sum payment in exchange for forgiving some of the balance.
- Get it in writing: If they agree to your offer, make sure you get it in writing and keep a copy for your records. This will prevent any misunderstandings or disputes later on.
Step 5: Stay focused and motivated
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The final step is to stay focused and motivated until you are debt-free. Getting out of debt can take time and effort, but it is worth it in the long run. You will feel more confident, happier, and financially secure once you are free from debt. To stay focused and motivated, you can:
- Set small goals and celebrate your achievements: Break down your debt into manageable chunks and reward yourself when you reach a milestone. For example, you can treat yourself to a movie night or a dinner out when you pay off 10% of
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sakshamjain3256 · 11 months
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The Truth About Money: How Rich Dad's Teachings Can Help You Avoid the Rat Race - Day 3 Reflection
📚🌟 Can reading really change your life? 🌟📚 According to research, reading books can reduce stress, improve comprehension and imagination, alleviate depression, and even help prevent Alzheimer's! 🧠💭 Day 3 of Bookish Buzz's test features "Rich Dad Poor Dad," which shares valuable lessons on financial literacy. 🤑 Why not pick up a book today and start changing your life for the better? #ReadMore #ChangeYourLife #RichDadPoorDad
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My learning- Rich Dad's teachings focus on changing one's perspective on money and wealth to become successful. The lesson he teaches is that the poor and middle class work for money, while the rich have money work for them. Instead of operating out of fear, people should learn how money works and have it work for them. Learning to work smarter, not harder, and using their minds to create wealth is the key to success. While it may be tempting to focus on immediate rewards, it is important to look at the bigger picture and avoid the trap of the rat race. The first step to finding another way is to tell the truth. By implementing Rich Dad's teachings, one can change their perspective on wealth and success, and ultimately become successful in life.
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creditklick · 1 year
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femmefatalevibe · 9 months
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for the other anon: bitchesgetriches is an excellent blog with a lot of great personal finance advice and guides to things like paying off credit card debt on a low budget 💜
Thank you, love! Posting for visibility xx
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taxhvn · 1 year
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We have scoured the market, compiled and reviewed a list of the 50 best financial books of 2023. These books cover a wide range of topics, from investing, personal finance, to self-development and money management.
If you were looking to choose a bestselling finance book for this winter, your ideal choice is most probably in this list. Happy reading ! 📖
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"Money is like a sixth sense - and you can't make use of the other five without it." - William Somerset Maugham
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sabine5 · 1 year
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Not spending money
is really really hard. Which is why I am in such a crazy amount of debt. I spent money I do not have and rationalized that that one purchase is going to make me happy. That I need that thing. Once I have that thing I'll finally be complete. But it's not true. Once I have the thing I take it for granted and I start fixating on the next thing I need.
Case in point: last month I bought an Apple watch. And now I have another charging cable. So I started looking into wireless charging stations to clean up the tangle of wires. But then I'll look at it and decide that it would look better with a prettier bedside table. Which would need a matching bookcase. And don't I need even more books? But the book is only $12 and I want to get free shipping, so I should buy two more to save the $5. And on and on and on, pick a starting line and go from there.
I keep a wishlist on google keep. So when I really want something, instead of hitting purchase on the website, I add it to the list. And then if something has been on the list for a while and I still want it, I get it.
That's how it was with the Apple watch. I probably still should not have bought it. But I rationalized that it would help me with my fitness journey. And I do actually love the watch. But my point is, sometimes I look around at my possessions and try to pinpoint the date each came into my life. The other day I realized that everything i was wearing was less than six months old. That even in this crushing debt I have still been purchasing new things like crazy. My shopping budget is blown nearly every month.
My new plan is not to eliminate shopping entirely, I don't think I could do that. But I am going to set the limit each month at $100. If I want something that is more expensive I will have to wait until I have saved enough over several months to afford it. More of a built-in buffer for impulse spending. No more walking around stores (or online stores) just to see what is there. No more thinking "it would be so nice to have a fish tank" and then researching how much they cost online. I can just think about the fish tank without purchasing one. I want to simplify my life, not add more to it. At least not in the sense of owning more items.
I want to be free. Free from debt and free from all these pointless items that I have stacked up all around me.
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mivida7 · 1 year
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