9/20/2016

The Half Payment Method

If you have some fixed payment bills a good way to be able to afford them and possibly get ahead on them is the half payment method. 

Lots of people use this for mortgage payments but it can work for other, mostly loan payment. 

Take a bill, divide it in half and pay that half every 2 weeks. (that is if you get paid every two weeks.). I usually also pay a little bit more, even $5.00 extra can cut away on the debt. 

By paying this way you end up paying an extra payment every year. So instead of 12 payments a year I am paying 13 payments a year. I am ahead on paying it back. That is also saving me some interest. 

9/19/2016

Why You Are Overspending, How to NOT Overspend

Too many people over spend and wonder why. They don't keep track of what they spend, where and then are surprised when the money runs out.
One big way people overspend that can be stopped is to STOP overdrawing the bank accounts I don't  know about your bank but mine has overdraft "protections" that charges me $35 each time they use it. That can add up a lot. Some banks will forgive one a year. So if this is a rare on one time thing it can't hurt to ask if they could forgive it. It pays at least help to keep track of you much you have in your accounts.
Don't use credit. It is too easy to say you can pay for it later. then not only do you overspend you get deeper into debt. Not a pleasant feeling.
Only go to the store when you actually need something. Don't go to the store for fun or to occupy time. Evaluate your needs and wants. Needs are good, healthy, filling food, Shelter, Clothing and transportation. You don't need new clothes every week or even every month. People have that in their monthly budget but unless you are, or have a baby, you won't grow out of your clothes and need new ones.
Food is a need but you have to sometimes go for simple, inexpensive, filling foods.