5 Things You MUST Do If You Want To Pay Off Debt Quickly

5 Things You MUST Do If You Want To Pay Off Debt Quickly

2020

BUDGET BOSS 

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2020

BUDGET BOSS 

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5 Things You MUST Do If You Want To Pay Off Debt Quickly

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Living with debt is a reality that most people are dealing with.

With high-interest rates and an overwhelming pressure to indulge in the latest trends, paying off debt quickly can seem impossible.

Here’s the good news, though:

These are the five best budgeting methods.  I bet you're ready to afford your dream life. I know I was! That is when I transformed my finances, starting with my budget. These are the 5 best budgeting methods to help you afford your dream life. If you want to stop living paycheck to paycheck, pay down debt, or save more money, one of these budgeting methods will help you. Being responsible with your money means creating a plan. These budgeting methods are the best to do that. Click to discover which budget method works best for you.
Some of the links in this post are “affiliate links.”  This means if you click on the link and purchase the item, WSW will receive an affiliate commission.  Additionally, Who Says What is a member of the Amazon Affiliate Program.  Please review our Privacy Policy for more information.
When you do these five things before paying off your debt, you’ll be able to pay off debt quickly, easily, and affordably.

So, here’s what you need to do before you start your debt repayment journey:

  1. Create A Budget
  2. Decrease Your Expenses
  3. Make More Money
  4. Negotiate Lower APRs
  5. Make A Debt Pay Off Plan

After using these tips, I was able to save $3,000 and pay off my debt in half the amount of time I originally thought it would take!

Let’s do this:

1.  Create A Budget

Before you start paying off debt, you want to create a budget (or evaluate your current one).

This way, you can get a clear picture of how much money you make, spend, and have leftover each month.

To create a strong budget, follow this guide!

Then:

Decide how much money you’re going to put towards paying off debt each month.

2.  Decrease Your Monthly Expenses

To pay off debt quickly, you should be putting as much money as possible towards debt payments each month.

If you’re currently living paycheck to paycheck and can only pay the minimum amount due on your credit cards, student loans, etc., it can feel like it’ll take you years to become debt-free.

And here’s the deal:

It will take you years to pay off your debt if you don’t free up extra money to make aggressive debt payments.

Here’s the good part, though:  Decreasing your monthly expenses is easy.

First, make a list of all your expenses.

Next:

Make a plan to decrease each item on your list (to the best of your ability)!

For example, you should:

1.  Refinance your mortgage for a lower interest rate & start paying biweekly

2.  Sign up for Trim to cut your cable, phone, and WiFi bills in half

3.  Switch to Mint Mobile to save hundreds on your cell phone bill

4.  Refinance your car loan for a lower interest rate

5.  Shop around for lower car insurance

6.  Invest in energy-efficient options to reduce utility costs

7.  Consolidate your credit card debt into a personal loan to decrease your interest costs and create one low monthly payment

8. Refinance your student loans for a lower interest rate

9.  Switch to Chime Bank (it’s SO simple!) to get rid of all banking fees (and get a FREE $50 gift right now)

Then, once you’ve decreased your monthly expenses you can start putting that saved money towards additional debt payments!

You can create and track your savings goals with these printables! (included in our Budget Boss Binder)

SPECIAL OFFER!

SAVE $18 RIGHT NOW

When you act fast, you can download our best-selling Budget Boss Binder for only $9!  But, quick!  This deal ends tonight at midnight!

3.  Make More Money

As I said, paying off debt quickly is a million times easier when you have a lot of extra money to throw towards debt payments.

Easier said than done, though, right?

In our last tip, we encouraged you to decrease your monthly expenses by as much as possible to free up money.

If you weren’t able to decrease your expenses by as much as you thought, don’t worry:

There is always money to be made!

To make more money to put towards paying off your debt, consider:

  1. Asking for a raise
  2. Working overtime
  3. Getting a second job
  4. Freelancing
  5. Starting a blog
  6. Managing a side hustle
  7. Sell your stuff
  8. Take surveys

There are tons of ways to make more money each month and it will make a HUGE difference in how long it will take you to pay off your debt.

4.  Negotiate Lower APRs

Do you know the hardest part about paying down debt?

Dealing with insanely high-interest rates that make it impossible to make progress on your debt repayment is the number one reason people feel hopeless when it comes to paying off debt.

So, before you start paying off your debt, you should negotiate lower APRs for all of your debt.

When you use Trim, they will negotiate lower interest rates FOR YOU, with just a single click of a button.

And, there’s more good news:

If you can’t negotiate a lower APR for some reason, you can always consolidate your debt into a personal loan or refinance your loan for a lower interest rate.

When you consolidate your debt into a personal loan, you’ll have a lower overall interest rate and will only have to worry about a single payment.

I recently consolidated my credit card debt and saved $3,000 in interest costs!

Lowering your current APR’s, consolidating with a personal loan, or refinancing for a lower interest rate will save you so much friggen money in the long run, so don’t skip this step if you want to pay off debt quickly!

5.  Make A Debt Payoff Plan

The last thing you must do before you start paying off debt is to MAKE A PLAN!

You do not want to go into your debt payoff journey blind, because if you do, you will waste time and money.

To make a debt payoff plan, do these 2 things:

  1. Make a list of all debts
  2. Decide the best plan of action for each debt

I’ll go more into detail, now:

1.  WRITE DOWN YOUR DEBTS

Make a detailed list of all of your debts, including this information for each:

  1. Name of debt 
  2. Total amount owed
  3. Minimum monthly payment
  4. APR

*Leave some room beneath each debt to write down your plan of action.

*Debt Repayment Worksheet included in our Budget Boss Binder

2.  DECIDE YOUR PLAN OF ACTION

Once you’ve listed out all your debts, you can tackle each one individually.

Underneath each debt on your list, write down your action steps for paying it off.

For instance, will you:

  1. Use the debt snowball technique?
  2. Use the debt avalanche technique?
  3. Consolidate with a personal loan?
  4. Use a balance transfer credit card?

Having a clear plan for your debt will help you pay it off quickly, easily, and without stress!

*Bonus!  How To Make sure you stick to your debt payoff plan:

So, it’s all fine and dandy to make a debt payoff plan, but:

How are you going to make sure you stick to your debt payoff plan instead of spending your extra cash on Target runs?

Two ways:

  1. Using a reward system
  2. Tracking your progress

Firstly, promise yourself a reward after each debt is paid off – this will give you motivation and incentive to keep going.

Secondly – and most importantly – you should track your debt repayment progress to make sure you’re sticking to your goals.

When you use our Budget Boss Binder, you can easily create your debt repayment goals and then track them each month with our debt repayment tracker!

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DESTROY YOUR DEBT!
– michelle
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How To Create A Christmas Budget So You Don’t Go Broke This Holiday Season

How To Create A Christmas Budget So You Don’t Go Broke This Holiday Season

2019

CHRISTMAS

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2019

christmas

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How To Create A Christmas Budget So You Don’t Go Broke This Holiday Season

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The holidays are quickly approaching and I know it has you feeling stressed!

Between friends, family, coworkers, and more, the pressure to spend tons of money each holiday season is ever rising.

Here’s the deal, though:

These are the five best budgeting methods.  I bet you're ready to afford your dream life. I know I was! That is when I transformed my finances, starting with my budget. These are the 5 best budgeting methods to help you afford your dream life. If you want to stop living paycheck to paycheck, pay down debt, or save more money, one of these budgeting methods will help you. Being responsible with your money means creating a plan. These budgeting methods are the best to do that. Click to discover which budget method works best for you.

Some of the links in this post are “affiliate links.”  This means if you click on the link and purchase the item, WSW will receive an affiliate commission.  Additionally, Who Says What is a member of the Amazon Affiliate Program.  Please review our Privacy Policy for more information.

You can have an epic, stress-free, and affordable Christmas when you use these 5 tips to prepare your budget for the holidays now!

You’re gonna wanna:

  1. Evaluate your current budget
  2. Create A Savings Plan
  3. Be Frugal
  4. Start Early
  5. Collect Cash Back NOW

Let’s dive in!

1.  Evaluate Your current budget

When’s the last time you budgeted your money?

Can’t remember?

To prepare your finances for the extra expenses that come around the holidays, get your budget on point NOW.

Download the Budget Boss Binder to quickly organize your finances and create a budget that will help you save money.

When you do this, you’ll be able to easily afford everybody on your Christmas shopping list!

2.  Create a savings plan

Use a savings tracking printable, like the one below, to create a holiday savings plan.

Commit just $25 a week for a few weeks and you’ll have plenty of cash on hand for your holiday shopping.

SPECIAL OFFER!

SAVE $18 RIGHT NOW

When you act fast, you can download our best-selling Budget Boss Binder for only $9!  But, quick!  This deal ends tonight at midnight!

3.  Be Frugal

Living frugally is beneficial all year round, but especially during the holidays.

Check out these 101 Ways to Be Frugal Without Trying.

4.  Start early

When you start preparing for the holidays now, you won’t feel stressed later!

Take the time today to organize your finances  and a savings plan in place so you’re prepared come last-minute holiday shopping.

You can also organize your gift list, to-do list, party ideas, and more with our 2019 Christmas Planner!

5.  start collecting cash back now

Start earning cash back now that you can use for Christmas gifts, later.

These are the best apps for earning cash back without even trying:

  1. Rakuten (Ebates) ($10 Sign-Up Bonus!)
  2. Ibotta ($10 Sign-Up Bonus)
  3. Dosh ($5 Sign-Up Bonus)

With the cash bonuses from these apps, you can cross another person off your shopping list for free!

6.  cut costs & put more money in your pockets

When you decrease your monthly expenses, you’ll end up putting more cash in your pockets each month.

So, take the time now to cut costs so you have more flexibility in spending for the holidays.

These are the best ways to decrease your monthly expenses to:

 

If you do just one thing on this list to prepare your finances for the holidays, let it be to decrease your current monthly expenses.

Not only with this help you tremendously in affording a kickass Christmas, but it will also benefit you all year long.

When you use these six tips to prep your Christmas budget now, you’ll be super prepared come the holiday shopping season!

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’tis the season!

– michelle

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How To Make A Budget Binder DIY Style

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2020 Budget Boss Binder Overview

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12 Ways To Host An Unforgettable Thanksgiving On A Budget

12 Ways To Host An Unforgettable Thanksgiving On A Budget

Thanksgiving

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THANKSGIVING

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12 Ways To Host An Unforgettable Thanksgiving On A Budget

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Feeling stressed out about how much hosting Thanksgving is going to cost you?

I’ll let you in on  little secret:

These are the five best budgeting methods.  I bet you're ready to afford your dream life. I know I was! That is when I transformed my finances, starting with my budget. These are the 5 best budgeting methods to help you afford your dream life. If you want to stop living paycheck to paycheck, pay down debt, or save more money, one of these budgeting methods will help you. Being responsible with your money means creating a plan. These budgeting methods are the best to do that. Click to discover which budget method works best for you.

Some of the links in this post are “affiliate links.”  This means if you click on the link and purchase the item, WSW will receive an affiliate commission.  Additionally, Who Says What is a member of the Amazon Affiliate Program.  Please review our Privacy Policy for more information.

You can host an unforgettable Thanksgiving on a budget (without anybody knowing)!

When you use these 12 tips, you’ll be able to save money while hosting an epic Thanksgiving dinner.

Dive in!

1.  Don’t Buy A Turkey

I know, I know.  I’m starting off with a banger.

But, hear me out:

The turkey is the most expensive part of Thanksgiving dinner. And, while it is the most recognized item on a Thanksgiving menu, it isn’t the healthiest (or the most compassionate).

So, spread compassion and love this Thanksgiving by saying no to turkey.

Besides, the sides are the most delicious part of Thanksgiving dinner, anyways.

2.  Don’t Over Invite

Keep your expenses for Thanksgiving in check by sticking to a small guest list.

If you’re worried about offending people, let them know that you’re hosting an intimate Thanksgiving for immediate family.

They’ll understand!

And, if they don’t?  Expand your guest list and ask everybody to bring a dish (tip #8).

3.  Shop Sales

You can totally host an unforgettable Thanksgiving on a budget without having to skimp out.

Simply take the time to research the best sales at your local grocery stores.  Then, make a note on your shopping list of where each item is cheapest!

Don’t forget to check your local bulk food stores.

4.  Use Coupons

Coupon Surfer has TONS of great coupons available to you for FREE!

Sign up now and browse their coupons before your Thanksgiving shopping to easily save money.

5.  Buy What’s in season

Pinterest can make it seem like you have to make 2 main dishes and 30 sides to host an epic Thanksgiving.

Don’t be sucked into the madness!

You can host an unforgettable Thanksgiving on a budget by only buying what’s in season.

And, I’ll tell you what:

Your meal will taste 100x better than most because you’ll be using the freshest ingredients available to you.

(It just so happens that they’ll also be the cheapest!)

6.  Shop Locally

Local farmer’s markets often have cheaper prices than your local grocery store.

If you have one available to you, utilize it to host an epic Thanksgiving on a budget.

7.  Budget For It

Don’t let hosting Thanksgiving leave a hole in your wallet.

Instead, budget for Thanksgiving now, so you don’t feel stressed about it as the date approaches.

Download the Budget Boss Binder to organize your finances and create a budget plan for Thanksgiving!

SPECIAL OFFER!

SAVE $18 RIGHT NOW

When you act fast, you can download our best-selling Budget Boss Binder for only $9!  But, quick!  This deal ends tonight at midnight!

8.  Make A Plan (& Stay organized)

Avoid unexpected and last-minute expenses when you host Thanksgiving by planning ahead and staying organized.

Use our 2019 Thanksgiving Planner to keep track of all the important details, like:

  • whose coming
  • whose bringing what
  • your menu
  • meal plan
  • shopping list
  • to-do list

and more!

Get your Thanksgiving printables here for just $5.

9.  Ask people to bring a dish

It is 100% okay (if not expected) for you to ask your guests to bring a dish.

And, think about it:

If you ask each guest (or group of guests) to bring just one dish, you’ll have most of your Thanksgiving meal complete without leaving anybody broke or tired.

Sharing is caring!  And that’s what Thanksgiving is all about!

10.  Keep it simple (Stupid!)

Simple is elegant.  Simple is cool.  Simple is cost-effective.

Listen:

You don’t need to go broke trying to throw the most elaborate Thanksgiving anybody has ever been to.

The most important part is that you’re with the people you love enjoying each other’s company.

So, keep it simple, stupid, and save yourself time, stress, and money.

11.  Thrift It

You might feel like you need a fancy set of china to host Thanksgiving.

But, you don’t!

Go to your local thrift store and buy a total mishmash of plates, silverware, and cups.

Not only will this save you tons of money, but it will also look sooooo cute.

Vintage is in, so embrace it!

12.  Get Cash back

Download Ibotta so you can get cash back for purchases you’re already making for Thanksgiving.

It’s as simple as installing the app and snapping a pic of your receipt after shopping for Thanksgiving dinner.

You’ll instantly receive cash back on qualifying items!

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stay grateful,

– michelle

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4 Methods To Get Out Of Debt Fast

4 Methods To Get Out Of Debt Fast

2020BUDGET BOSS planner2020BUDGET BOSS plannerGetting out of debt can feel like an impossible task. That is until you use one of the best methods for paying off debt quickly. When I used one of these four methods to pay off my...

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Trim Financial: Save Hundreds Of Dollars In Only 5 Minutes!

Trim Financial: Save Hundreds Of Dollars In Only 5 Minutes!

2020

BUDGET BOSS 

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2020

BUDGET BOSS 

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Trim Financial: Save Hundreds Of Dollars In Only 5 Minutes!

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Bills…

We’ve all got them.

And we all wish we had less of them.

Here’s the deal, guys:

Click to learn how to budget for beginners even if you suck with money.  Learning how to budget is essential to your financial wellbeing and will determine if you can afford your lifestyle, get out of debt, and save money.  If you're sick of living paycheck to paycheck or in debt, it is time to learn how to budget.  Use these 5 quick and easy 'how to budget' tips to get started with budgeting in as little as an hour.  These five tips are your first steps towards budgeting better! #budgeting #howtobudget

Some of the links in this post are “affiliate links.”  This means if you click on the link and purchase the item, WSW will receive an affiliate commission.  Additionally, Who Says What is a member of the Amazon Affiliate Program.  Please review our Privacy Policy for more information.

You can decrease your bills and save hundreds of dollars each month in only 5 minutes with Trim Financial.

Things like your cable/WiFi bill, your phone bill, and your credit card APR’s can all be negotiated for a lower cost.

And the best part?

You don’t have to be the one to do it.  Trim Financial will do all the work for you.

All you have to do is sign up, sit back, and save.

Today I’ll fill you in on:

  • what Trim Financial actually is/does
  • how Trim Financial works
  • how to get started with Trim Financial for free

Let’s do this!

>> What is trim financial?

Trim Financial is a money management tool that will help you budget better, save money, and pay off debt.

Once signed up with Trim, you will be asked to connect your checking account.

Then, Trim will analyze your spending and earnings to help you “make the most of your money” by:

  1. Negotiating Your Bills
  2. Finding & Cancelling Your Unused Subscriptions
  3. Automating Your Savings
  4. Assisting With Debt Payoff

I mean, guys, get this:

In the last 30 days, Trim has saved its users over one million dollars!

Epic right?

And, I know you want to cash in on these savings, too.

So, let’s dive into how Trim Financial will save you hundreds of dollars a month!

>> How does Trim Financial work?

As I mentioned, Trim utilizes four areas of expertise to save you money:

  1. Bill Negotiation
  2. Canceling Unused Subscriptions
  3. Automatic Savings Features
  4. Debt Payoff Assistance

Now, let me explain how they’ll save you mad cash.

1. Bill Negotiation:

Trim Financial will negotiate a lower price for some of your bills, including your:

  • Cable bill
  • WiFi bill
  • Cell Phone bill

The process of lowering your bills is super simple; just upload your bills, sit back, and watch the savings roll in.

That’s not even the best part, though:

You don’t have to call up your providers and negotiate yourself!

2. Canceling Your Unused Subscriptions

Once you’ve connected your checking account(s) to Trim Financial, they will automatically find your recurring subscriptions.

Then, simply head over to the “subscriptions” section of your account and review them.

You can easily request to cancel any subscriptions found and they’ll do the work for you!

HINT:

Already in love with Trim Financial? (I knew you would be!)  Get started now for free!

3. Automatic Savings

Trim Financial will help you add more money to your savings account through the use of ‘Simple Savings’.

All you have to do is set a price and forget it!

Then, Trim will use an automated weekly transfer system to add money into a high-yield savings account.

Ca-ching!

And, that’s not all:

Ever wonder how much money you should have saved in case of emergency job loss?

Well, Trim has an Emergency Fund Calculator that will tell you exactly you should have saved.

Simply add your monthly expenses to the calculator and bam: your customized emergency fund number.

4. Debt Payoff Assistance

Using Trim Financial to get rid of your debt is hella smart, simple, and, well, awesome.

Trim will help you with your debt in 3 ways:

  1. Automating Credit Card Payments
  2. Creating A Payoff Plan
  3. Negotiating Lower APRs

Here’s the deets:

1. Automate Credit Card Payments:

Trim will automate your credit card payments so you never miss a due date again!

This way, you’ll avoid late fees, save money, and pay off your debt faster.

2. Create A Debt Payoff Plan:

Trim will create a custom debt payoff plan for you using the debt avalanche method (the fastest way to destroy debt) so you can become debt-free ASAP.

It’s simple:

First, provide Trim with your debt information, such as how much owe and what your interest rates are.

Next, set a target monthly payment and voila – your debt avalanche payoff plan is created!

You’ll be told exactly how much to pay on each debt, each month, and exactly how long it will take you to become debt-free.

#awesomesauce

3. Negotiate Lower APRs:

Ok.  So this is definitely one of the coolest benefits of signing up with Trim.

You know this:

Having high-interest rates makes paying off your debt so. much. harder. 

So, to make your debt payoff go smoother, Trim will negotiate lower APRs FOR YOU.

Simply give Trim your credit card information (the non-confidential stuff, of course), and they’ll do whatever they can to score you a lower APR!

Freaking amazing.

Click to learn how to budget for beginners even if you suck with money.  Learning how to budget is essential to your financial wellbeing and will determine if you can afford your lifestyle, get out of debt, and save money.  If you're sick of living paycheck to paycheck or in debt, it is time to learn how to budget.  Use these 5 quick and easy 'how to budget' tips to get started with budgeting in as little as an hour.  These five tips are your first steps towards budgeting better! #budgeting #howtobudget

>> How to get started with Trim Financial (for free!)

I know you want to get started with Trim ASAP and reap it’s many saving benefits!

So, here’s the super simple way you can get started for free:

  1. Visit asktrim.com
  2. Click to signup with Facebook or via Email
  3. Create an account (for free) with your name and email address
  4. Connect your bank account(s)
  5. Start saving!

Trim has an easy-to-use dashboard and makes saving money so damn simple, so don’t wait to sign up!

Read Next…

Who knew saving tons of money could be so simple?

Furthermore, who knew you were missing tons of opportunities to save money while buying the things you already do?

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Happy budgeting,

– michelle

P.S.  Was this post helpful?  Consider buying us a coffee to show your love <3

Buy Us A Coffee!Buy Us A Coffee!

MORE GOOD READS…

4 Methods To Get Out Of Debt Fast

4 Methods To Get Out Of Debt Fast

2020BUDGET BOSS planner2020BUDGET BOSS plannerGetting out of debt can feel like an impossible task. That is until you use one of the best methods for paying off debt quickly. When I used one of these four methods to pay off my...

read more

Free Resource Library!

Sign up for our weekly newsletter to gain instant access to our library filled with printables, courses, and more.

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7 Reasons To Say ‘No’ to Credit Cards

7 Reasons To Say ‘No’ to Credit Cards

2020

BUDGET BOSS 

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2020

BUDGET BOSS 

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7 Reasons To Say ‘No’ to Credit Cards

Out of cash? Use a credit card.

Stuck in an emergency? Use a credit card.

Credit cards are perhaps the most eligible competitors for the position of ‘man’s best friends’ after dogs!

Seriously, a credit card is known to be a tool that helps one sail through hardships and emergencies smoothly.

But, what is yet to be pondered upon is whether this reason is enough for us to adopt and use a credit card extensively?

I know there are numerous other benefits of credit cards as well.

For instance:

Credit cards come up with offers and lucrative deals on hotel and flight bookings, provide incentives such as significant cashback and also provide you with credit interest-free for a fixed period of time without any collateral.

Wonderful, I must say!

Also, credit cards lend you the ability to build your credit score.

But have you, at any point in time, considered that if a single credit card has the ability to build your credit score, it also has the ability to destroy it forever?

Apart from this, do you know crores of people around the globe succumb to debt traps because of credit cards every year?

Don’t believe me? Read about an incident that happened in Delhi, India a week ago: Unable To Pay Credit Card Bills, Man Jumps To His Death.

Why?

Because credit cards follow a basic principle: Spend now and pay later.

This policy of credit cards makes people spend more than what they can really afford. But why would people do that?

To maintain their ‘social status’ in society.

Now, another thing most people wonder is that what is the problem in spending now and paying later?

Well, there is nothing really ‘wrong’ in it, well not until you make it a habit.

People usually tend to get stuck in this debt trap when they start spending more than what they can possibly pay later. It takes years and years, even decades, to repay credit card dues.

People often tend to pay the minimum required amount and then take on more and more debt.

I hope I have convinced you enough to not use credit cards!

But for a more detailed approach, let’s explore 7 reasons to say no to credit cards in detail:

1.  Credit Card Interest Rates Are Surprisingly High

Credit cards usually have surprisingly high-interest rates which start to accrue after a certain grace period.

Most people are not aware of these interest rates and hence continue borrowing without a pay-back plan.

In fact, interest rates also grow with time and can rise to such a high level that your interest becomes higher than your initial loan amount.

The best way to avoid this kind of situation is to avoid buying exorbitant things which you can’t otherwise afford with cash.

2. Credit Cards Lead To Overspending

Credit cards have been designed very smartly.

Their concept is designed in a way that makes people overspend than their budgets.

This will lead to people paying interest rates and ultimately the credit card companies’ profits!

But why do people overspend?

Well, purchasing an item simply doesn’t appear as huge a deal if you simply need to swipe a plastic card and don’t have to worry about its payment for a month at least.

However, if you pay with actual money, you can physically feel the paper money leaving your hand.

This makes you more mindful of your expenses.

3. You May Get Stuck In A Debt-Trap

If you go on a spending spree with your credit card without a proper pay-back plan in place, you may be digging your own grave.

Debt trap is the worst thing that can happen to anyone financially. It eats you away physically, mentally and financially.

I know what you must be thinking: “this won’t happen to me!”

Well, you are wrong my dear friend.

Anyone, I repeat, anyone can get into a debt trap if he/she is an avid user of credit cards.

4. Concealed Terms & Conditions

Have you ever considered reading the terms and conditions when signing up for a credit card?

No?

I must tell you that you should.

I know the terms and conditions are written in a very small type but trust me, they are worth reading.

When you will actually read these terms and conditions, you will literally be shocked by the number of things that were being kept in the dark from you by the company.

This little fine print will uncover some unknown facts and policies related to your dear credit card.

5. Credit Cards Can Ruin Your Credit Score

If you fail to repay your credit card dues continuously, your credit score will start to diminish.

And, as I am sure you would know, having a good credit score is extremely important.

If your credit score goes down, you’ll notice your insurance premium will go up.

This is because some insurance companies check credit scores while calculating each individual’s premium, and when they’ll see that you have failed to pay the dues of your credit card, they’ll charge higher from you since you’re an irresponsible person in their eyes.

Also, that’s not it.

A poor credit score is like a seed for a tree of financial problems.

Some companies check the credit scores of applicants before hiring them for a job. If and when you apply for a home loan, there are chances that you are required to pay high interest, or worse, you’ll be denied the loan citing your low credit score.

6. Risk Of Ruining Relationships

Using a credit card can really ruin relationships!

Couples tend to fight over many topics, but the money topic tops that list.

What if your partner is a spendthrift and therefore often ends up overspending, whereas you are a saver?

To avoid silly fights (that can soon turn into serious arguments), it is better to set up a budget and spending plan and avoid disturbances like a credit card.

7. Credit Cards Rob You Of Mental Peace

Answer me honestly: are you at peace when you know that you owe your friend money for that movie night?

No, right?

Well, think of the mental peace which comes when you don’t have to worry about any interest rates, penalties, dues, credit card bills etc.

One word: Priceless!

Trust me; this mental peace will give you much greater satisfaction than whatever product you purchase through borrowing money.

Therefore, instead of borrowing through a credit card and losing sleep over it, make a wish list of your favorite items and buy them when you can really afford them.

It will be worth the wait!

In Conclusion…

In conclusion, while credit cards may prove to be your best friends in times of an emergency, they can very similarly turn into your worst enemies if used recklessly.

Therefore, you must say no to credit and use a card only when it is absolutely necessary.

Start saving each month and you’ll soon discover that you have enough funds for buying that ‘wish list item’ of yours!

Also, this way you won’t have to worry about debt when you retire.

The comfort and advantages offered by credit cards make them seem amazing but think about their downside as well before using.

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CIAO!

– DISHIKA <3

Dishika is a personal finance blogger at Bachat. With her articles, she breaks down complex financial concepts into bite-sized articles that are fun to read and easy to understand. Bachat is a one-of-its-kind mobile app that helps you save money on autopilot.

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How To Make A Budget Binder DIY Style

How To Make A Budget Binder DIY Style

2020

BUDGET BOSS 

planner

2020

BUDGET BOSS 

planner

How To Make A Budget Binder DIY Style

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I’ve been using a DIY budget binder for almost 7 years now.

And, here’s the deal:

Once I learned how to make a budget binder, my finances improved almost immediately (and are still kicking ass today).

It gets better:

Click to learn how to make a budget binder! Here's how to make a budget binder the simple and affordable way. If you want to stop stressing about money, you need to learn how to make a budget binder. This budget binder tutorial will help you make a budget binder so you can master your money and stop living paycheck to paycheck. Don't miss this overview of how to make a budget binder. #budgetbinder #howtomakeabudgetbinder #budgetbinderprintables #budgetbinderdiy

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To make a budget binder DIY style is hella simple and equally affordable!

Today, I’ll walk you through:

  • what you’ll need
  • how to set it up
  • a basic overview of how to use it

Alrighty!  Let’s get into it.

What You’ll Need To Make A Budget Binder

Making a budget binder DIY style is super simple.

Better yet?

They’re also SUPER affordable!

Here’s what you’ll need to make your budget binder:

 

Once you have all your stuff (I love using Amazon Prime!) you can get started on creating your DIY budget binder.

How To Make A Budget Binder DIY Style

To quickly and easily set up you DIY budget binder, follow these steps:

1. Print your budget binder printables (get every budget printable needed here)

2.  3-hole punch your printables

3.  Place your yearly budgeting printables at the beginning of your binder (before the first divider)

4.  Insert your monthly budgeting printables, separated by 12 dividers; one for each month

It’s that simple!

How To Use A Budget Binder For Financial Success

Setting up your budget binder is simple.

The hard part?

Actually using your budget binder for financial success.

Here’s a quick overview of how to use a budget binder so you can finally stop stressing about money.

Income + Expenses

Use an income and expense organizing printable to write down your monthly income and expenses.  Then, evaluate if you’re living within or above your means by doing some simple math (total expenses – total income).  This information is critical to setting up a successful budget.

Create A Budget

Use the Create-A-Budget template to outline your budget for the year.  Decide how much money you can afford to put towards bills, miscellaneous spending, debt repayment, savings, and more.  Use a weekly or bi-weekly budget tracker to make sure you stick to your budget.

Financial, Debt Repayment, & Savings Goals

Use a financial goal planning printables to create long-term financial goals and plan out your action steps for success.  Do the same thing for your debt repayment and savings goals.  Then each month, track your progress with guided printables.

Bill Pay Calendar/Checklist

Use a bill pay calendar and/or checklist to list your monthly bills and check them off once they’re paid.

Account Ledger

Track your bill-pay account by monitoring how much money is coming in and going out.  Your ledger will help you stay on top of your account balance so you don’t spend money that you do not have.  Also great for noticing funky account activity and/or planning for unexpected expenses.

Daily Expense Tracker

Track your daily spending on miscellaneous items so you can recognize poor spending habits and stop them.

Take Action:

If you want to stop stressing about money, you gotta set up your DIY Budget Binder!

As you can see, it’s super simple and hella affordable.

So, don’t wait!

Click here to get your printables and never stress about money again.

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Happy budgeting,

– michelle

P.S.  Was this post helpful?  Consider buying us a coffee to show your love <3

Buy Us A Coffee!Buy Us A Coffee!

MORE GOOD READS…

4 Methods To Get Out Of Debt Fast

4 Methods To Get Out Of Debt Fast

2020BUDGET BOSS planner2020BUDGET BOSS plannerGetting out of debt can feel like an impossible task. That is until you use one of the best methods for paying off debt quickly. When I used one of these four methods to pay off my...

read more

Free Resource Library!

Sign up for our weekly newsletter to gain instant access to our library filled with printables, courses, and more.

Copyright © 2016-2020 WHO SAYS WHAT • THEME BY DIVI • POWERED BY TMDHOSTING