7 Dreams That Can Come True When You’re Debt Free

For the young couples and parents that are reading this, I think it’s safe to say that a whole bunch of you are looking for a little more freedom and fun in your lives. And I truly believe that when you become debt free, you will experience that freedom. You’ll also experience a reduction of stress like you never have before.

I know that me just spouting off words and phrases like “debt freedom” or “stress reduction” may not motivate you to jump out of you seat and start crushing debt. But perhaps if we get a little more specific together, it may just do the trick.

Here are 7 dreams that can come true when you’re debt free:

Continue reading “7 Dreams That Can Come True When You’re Debt Free”

How “No Spend Challenges” Helped One Woman Eliminate $78,000 of Debt – with Jen Smith

With nearly 80% of Americans living paycheck to paycheck, most of us could use some help with saving a bit more.

Our guest today, Jen Smith, is going to show us how. Jen and her husband paid off $78,000 of debt in just under two years. A huge factor in their success was taking advantage of “No Spend Challenges”.

These challenges encourage you to halt all “personal spending” for a set period of time. This cold turkey approach could be an excellent solution for a large population of our country right now.

Continue reading “How “No Spend Challenges” Helped One Woman Eliminate $78,000 of Debt – with Jen Smith”

How Refinancing and Loan Forgiveness Can Help Your Big Student Debt Problem – with Travis Hornsby

With our country currently drowning in $1.5 Trillion of student debt, it’s fair to say we have a big problem on our hands. This problem is hitting home as well. Couples are delaying marriage, delaying having a baby and even strategically getting divorced to lessen the burden of their student loans.

If you’re listening to this, you may just be one of the many Americans that’s feeling like they are completely under water with these loans.

Well today, I have a very special guest who’s going to talk with us about our options for getting rid of these loans the right way. Travis Hornsby from Student Loan Planner shares how refinancing and student loan forgiveness may be our tickets to student debt freedom.

Continue reading “How Refinancing and Loan Forgiveness Can Help Your Big Student Debt Problem – with Travis Hornsby”

Sinking Funds: The Secret to a Successful Budget

Hello all! Andy Hill here …  We have a new guest post from personal finance writer Amy Beardsley from Early Morning Money. Amy is a self-described money geek that is obsessed with simplifying money and breaking free from the burden of debt. Her article below shares why we all need sinking funds in our budgets to help us create that freedom we desire. Enjoy!

When it comes to your family’s finances, you already know you need an emergency fund to protect you from a job layoff or major medical illness. But what about all of those little expenses that come up year after year, like car insurance, Christmas, or your annual family vacation?

That’s what sinking funds are for, and they’re the secret to a successful budget.

When money is tight, or you’re working on a big debt-payoff goal, covering all of your expenses is key to making it work. With sinking funds, you can easily stick to your budget even when faced with costs that don’t come up that often. Here’s how to get started.

Continue reading “Sinking Funds: The Secret to a Successful Budget”

Over $100,000 of Debt Destroyed on a Teacher’s Salary – with Allison Baggerly

For some people, their pile of debt can feel so huge that paying it off just feels like fiction. It feels impossible. It feels overwhelming.

Well today, I’ve invited someone on the show who felt the same exact way, but then she took action and won the battle against her debt.

Allison Baggerly and her husband partnered together to pay off $111,000 of debt in 4 ½ years. They completed this difficult feat on two teacher’s salaries with two little kids at home. In our interview, she’s going to share with us how she did it.

Continue reading “Over $100,000 of Debt Destroyed on a Teacher’s Salary – with Allison Baggerly”

How to Increase Your Net Worth by $800,000 in 8 Years

One fall night in 2010, my wife Nicole and I were watching the Suze Orman Show. (Yes, I used to DVR it). There was this fun segment where someone would call in and Suze would analyze that person’s financial health and give them a grade. It was called How Am I Doing?

One term that we kept seeing over and over again on this segment was “Net Worth”. Since we were personal finance newbies, we had no idea what this meant. Nicole and I were making a combined six-figure income together so we figured our net worth must be HUGE.

After the show was over, we decided to see how rich we really were. There was no doubt in our mind that we’d be better off than most of the jokers that call in to the show and get an “F” grade from Suze!

via GIPHY

We walked upstairs and started to write down all of our numbers on a big white board. By separating our “assets” (what we owned) and our liabilities (what we owed) into two big columns, we started to discover that we weren’t rich.

We were kinda broke.

Continue reading “How to Increase Your Net Worth by $800,000 in 8 Years”

5 Quick Ways to Improve Your Finances Before the New Year

It’s almost the New Year!

It is time to take some massive action to improve our financial situations before the year is up. That way we’ll kick things off in January with confidence and more money in our pockets.

If you made a list of goals or new years resolutions earlier this year, now is the time to look at that list and assess how you’re doing. Think about what action you can take to accomplish those big goals you set for yourself earlier this year.

Now if you didn’t make any goals or can’t find that list, that’s okay! I have 5 goals for you to consider to help you improve your financial situation before the new year.

Continue reading “5 Quick Ways to Improve Your Finances Before the New Year”

With no mortgage, what do you do with the extra money?

Our first question of the month comes in from Nick from Tampa who responded to a blog post I wrote about paying off our mortgage (here’s the article):

Andy,

I love this blog post. As a former Dave Ramsey groupie myself, I’m really excited for y’all!

Would love to hear about your perspective one year later. I’m curious where you’re at with this? Have you followed through on your plans to allocate your savings like you say at the end of the post?

Have you invested in other opportunities?

How have the vacations gone?

Do you regret paying the mortgage off or do you still feel it was a smart decision?

From, Nick from Teach My Kids Money

Continue reading “With no mortgage, what do you do with the extra money?”

I owe $200,000 in student loans. Where do I start?

Our question of the month comes from Joe from South Dakota:

Hey Andy,

Like you, I have a young family (wife + 2 young kids), a house, and a blessed life. However, I do have a mountain of student debt (~200,000) that I have accumulated through a doctorate in Chiropractic that creates considerable stress in our little world.

Continue reading “I owe $200,000 in student loans. Where do I start?”

How to Make $10,000 Per Month Working From Home as a Writer – with Eric Rosenberg

Wouldn’t it be incredible to have a business you can call your own?

A business that allows you to pursue your passions, utilize your creative talents and work wherever you want.

A lot of people crave this location independent lifestyle, but few know how to achieve it while still making an income to support their family. Especially in a high cost of living city …

Well, I found someone who’s doing it all and he’s going to inspire us today.

Eric Rosenberg joins on the show today. Eric is a father of two, entrepreneur and full-time writer.  His business has done so well this year that he’s consistently exceeded $10,000 in income each month.

Continue reading “How to Make $10,000 Per Month Working From Home as a Writer – with Eric Rosenberg”