For those of you in debt and with no savings, I want you to know that there is so much help, support, and hope out there. The biggest thing I want to impart is that it doesn’t have to be lonely, scary, or even painful. You can make it fun and get through it quickly. On this fabulous Saturday morning, I’m about to fill you up on some great inspiration and motivation right here. Grab your coffee and read on!
First of all, I’m going to suggest looking up Dave Ramsey. He is a financial adviser and Christian for those of you out there that are also Christian (FYI, you don’t have to be one to read him). You can get some of his books at the library for FREE and start learning how to get out of debt fast. He gives great advice and inspiration.
One of his tips is called the Debt Snowball Plan. He suggests lining up all your debts and start paying off the smallest first while making minimum payments on the other cards, of course. Once that small card is paid off you take that extra payment and add it to the next card. With the paying off of each card, you then take those payments and add them to the next and the next until every card is paid off. I suppose you could then take that huge payment and start working on the car payment next and then the house.
I refer to his book, The Total Money Makeover, in my book Queen of Penny Pinching. He also has a website: daveramsey.com.
Now, as you are tackling the debt you must, absolutely MUST tackle the spending. There is a lot of cutting out of things that needs to happen and when you want to get out of debt bad enough, you will be willing to do what ever it takes. You don’t have to suffer, fear not.
I was reading Ruth Soukup’s website: livingwellspendingless.com and she had this fun idea. It was a way to jumpstart your savings and debt tackling. She has a 31 day zero spending challenge. Fun times! I love games! Her site is loaded with fun ideas for saving, budgeting, homemaking, family, it goes on. Check her out.
She also had a fun idea for cutting grocery cost. I had this one too, but she made it more interesting. It’s when you only buy sale items, but really extreme sale items at the store. Not just any crap because it’s on sale, food that your family will actually eat, but when it’s marked down big time and to really stock up when it’s marked down. She also suggested getting a stock pile going so you can just work from your pantry in creating weekly meal plans. More fun and games!
Now it seems there is another Queen in America, what the heck? Queenoffree.net is a great site by Cherie Lowe. She is the author of Slaying the Debt Dragon. I can’t wait to read her book (yes I just ordered it. I will start my zero spending challenge tomorrow). Her family paid off over $127, 000 in 4 years! If that doesn’t inspire you! We are no longer in debt, but I love these kinds of stories, they are like mystery thrillers for the frugal nerd. I’m thinking she has some tricks I could use.
Those are my three favorite people right now. In the olden days, I loved my big, fat book The Complete Tightwad Gazette, by Amy Dacyczyn. This book is LOADED with advice and tips on being frugal and raising a family on a teensy budget. She has all her advice and all the advice other women sent into her paper when she was writing a frugal, money saving advice column. It was my bible when our income was cut in half and we had a baby on the way, a second baby that is.
Of course, there is our good old web and Youtube where you can find all kinds of advice. Some of it is a bit long winded and boring…I mean, get to the point, I’m on a time budget too lady! But these people I referred you to are fun and smart. My books are fun and smart, but I know they may not speak to everyone and I could never compete with the likes of Dave Ramsey or even Ruth…or that other Queen.
So, let’s do Ruth’s challenge! I have no idea when she actually did this or if it’s still going on. However, I think I will take some of this advice and see what financial magic I can whip up.
Won’t you join me!