Debt Free Life Hacks: Managing Money Like a Boss

When you know better you do better! First, I would like to commend you for visiting this blog and reading this post. Why? It says a lot about who you are and your interest in your finances. A big part of " Managing your Money Like a Boss " and being debt-free is knowledge. If you're reading this, that means you're actively learning and growing or reinforcing the knowledge you may already have. Have you ever heard the phrase "Knowlege is power"? It's true. Now, knowledge without action/activity is somewhat useless, but acquired knowledge gives you the power to make informed decisions.  When it comes to managing your money, you want to be knowledgable and in power. The best way to do this is to learn as much as you can about finances, budgeting, money management, debt management, investing, etc. No one expects you to be an expert in all topics, but knowing a little something can take you far.  Here are some ways to increase your financial know...

Do you live to work or are you working to LIVE ? Are you living or just existing?  I work to live. I enjoy work and my contribution to society and the world, but work is not all there is to life. Life is for living and it is important to live life to the fullest.  Few of us are fortunate enough to have the option of not working. Work is just a part of life, but I argue that work should not be life. While a job pays the bills, there truly must be a balance.  If the budget is tight or money management is not great, one can get into the "I need my job " mindset.  This is a dangerous mindset because everything you do becomes about the job and survival. Individuals begin to put work first at the detriment of themselves, their health, their families, their relationships and more. While I am grateful for every job I've held and while the income earned allows me to provide for myself, not once have I ever felt tied down by any job.  The point I'm making is that ...

Traveling shouldn’t break the bank... While recently watching a movie, a husband and wife were taking a trip to Europe. The wife asked her husband if they could afford the trip and the husband responded that they could, reminding her that he would be getting raise later that year. 😮 That’s not the ideal approach to travel. Have you ever heard the saying, “don’t count your chickens before they hatch”? That’s a prime example of spending money before you have it. In the past, I’ve been promised a nice sum of money for services rendered and never received it (ouch...still hurts😐); had I already spent this money, I would have been in quite some trouble. Traveling should be fun and exciting, and it doesn’t have to break the bank.  Ideally, prior to traveling you would have had an opportunity to save and budget for your trip, but even so,  that doesn’t mean you should be reckless with your hard-earned dough $$. Coming home with some extra cash is NEVER a bad thin...

I'm sure we've touched on this in other posts, but this week I want to talk about the importance of having an emergency fund. Trying to save money when you're drowning in debt is unlikely, but once you can start putting money away, you want to make that a priority. Show me what you're working with. Are you living within your means?  First review your expenses. Do you know what your total expenses are each month?  Next, calculate your net income. How much are you bringing home?  Now, do the math. Subtract your expenses from your income. Do you have a positive or negative balance?  If you have a negative balance, it's important to carefully examine your expenses.  If you have a positive balance, that's great. There still may be room for improvement, but you're definitely on the right track.  Track your spending for a few months. This will help you get a clear picture of what's going out to what is coming in. Create a budget - Once you ...