Improve


7 Steps to Financial Health


Posted By on Apr 2, 2017

I’m going to be blunt. Not because I particularly like sharing every detail of my life (despite the evidence of this blog suggesting otherwise), but because I hope the steps I took to gain financial health may help others who are struggling. It’s not easy to admit that I didn’t always have my shit together and that I’ve made some mistakes. I wasn’t one of those people who was born knowing about amortized assets. And don’t be fooled...

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In previous posts we talked about budgeting and how we can save, pay down debt, and contribute money into a retirement account all at the same time. To recap: pay yourself first (i.e. automatic deductions into retirement at least up to company match), then take care of high interest debt first and as quickly as you can while saving a little something. Re-calibrate these percentages as you pay off debt and have more to put into...

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In the last post I talked about setting up your budget so that you can save for retirement, build an emergency savings plan, and pay off debt all at the same time. What I didn’t mention is that when I have a plan I am a very impatient person. And even with my budget designed to do all three magical things at once I wasn’t paying off my debt as quickly as I would like, which led me to…getting a second job. The real...

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Financial Health: Pay Off Debt

Financial Health: Pay Off Debt


Posted By on Mar 20, 2017

One thing I struggled with when I set up my budget is deciding how much money I put towards debt and how much I put towards emergency savings and retirement. As I said before, I automatically set up my retirement deductions based off my company match. That money leaves my paycheck before I see it, so it’s easy to make a budget without it. The next thing I did was start a savings account. Knowing I had more debt to pay off I started...

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This one is short and sweet, because I covered a bit of it before. Today we’re going to talk about savings and budgeting. Step 4: Your First $500, $1,000, 3-Month Fund When you’re making your budget and building in a savings plan it can be daunting to think about starting small and getting to a 3- or 6-month emergency fund. Take comfort in knowing you’re not alone. Studies show that only 28% of Americans have saved a 6-month...

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I was always taught that money doesn’t grow on trees, and while that’s mostly true it’s also a fact that technology and online shopping can be your best friend in getting you some free money for doing the things you already do. The apps and sites I mention below are ones I currently use and recommend. There are others (e.g. Wikibuy) that I haven’t used extensively and so I’m not going to give you a full...

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I don’t know about you, but a lot of my money management issues stem from trusting myself a little too much (haha). If I see the funds in my bank account I think that’s actually how much money I have, yet tend to forget about which bills are coming due and when before the next payday. And forget about saving. If it doesn’t happen automatically I take no joy in shifting leftover funds into a savings account. So my solution is to get...

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This month I’m focusing the majority of posts on my improvement plan from Year 2 in DC: Financial Health. Each post I’ll outline one step I took to make my life a little easier when it comes to money management. I haven’t always made good choices in the past and I’m not 100% fixed yet, but these steps have helped me get better and improve my credit score by 176 points in less than 2 years.   Step 1: Get a...

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