Debt Free Life Hacks: Managing Money Like a Boss

The end of the year is near! It's a great time to make final contributions, finish up challenges, and reflect on your money journey. Did you save as much as you wanted to save? Did you spend more than intended? What challenges did you face? What unexpected expenses threw you off track? Were you able to get back on track? Did you pay off one or more debts? What stands out? As we plan and set goals, we must be reasonable and flexible. Life happens, that's just a fact. Recognizing what went well and what did not allows us to plan for the future. If this year car troubles hit the budget hard, it may be time to budget more for future repairs and maintenance or even create a savings plan for a new car. As mentioned in a previous post, I took part in the 52-Week Money Challenge for the second year in a row. I've made my final payment and have successfully reached this year's goal. It's so rewarding to set a goal, work towards reaching that goal, and finally reach...

Are you doing all that you can do to secure your financial future? It’s all too easy to put off saving as if you’ll get to it another day. What we must realize is that time is not on our side when we wait. The magic of compound interest ( think interest on interest ) happens over time. The longer your investments have to build and grow, the bigger your nest egg will be! So what can you today? Act! Act now! Don’t put off saving any longer. If your company offers a retirement plan, contribute. If your company does not offer a retirement plan, find an investment company to open one with. Research! Do your homework.   If you already contribute to a company sponsored retirement plan, consider opening another individual retirement account (IRA) such as a Roth IRA. As a new employee with my company, I currently am unable to contribute to the retirement and must wait a year. What to do in the meantime? Something I’d put off for some time; I opened a Roth IRA and contributed th...