Debt Free Life Hacks: Managing Money Like a Boss

In times of uncertainty, we can sometimes become anxious and begin to panic. This is one of those times where a lot of things are happening all at once. Businesses are temporarily shutting down, schools closing, some are facing layoffs, the stock market has hit record lows. There are a lot of moving pieces, but we must remain calm, work together and get through this.

Budgeting and saving can be challenging at times, but here are some tips to get you started! Create a budget - you telling your money what to do.  Stick to the budget - really use it to limit extraneous spending. Watch out for wasteful spending . Do you need that? Put it back! Try to go a week without making extra purchases - During a typical week, I'm back and forth to work. I rarely spend any money during the week.  Bring your lunch and snacks to work -  limit going out to eat and trips to the vending machine.  Buy Groceries - While you may be spending money on groceries, grocery shopping can amount to big savings. This typically means that you're cooking and eating at home which usually is less than money you would spend in restaurants.  Stay home some weekends -  If you're anything like me, a day out usually means spending money. Picking up items here and there, going out to eat, throw in a movie and drinks and there goes your money! Find fre...

Do you Remember Layaway?  As a child, I remember the ability to put things on layaway. It was a way to make larger purchases and pay a little at a time. That can be helpful to a lot of people when it comes to spending and budgeting. Lower-income families sometimes use it for big purchases like holidays and other special occasions. You could take a little from your check and pay down your debt. I know my mom may have used it at some point, but I don't have all the details.  Was there a fee? Did she pay interest? I don't know! Convenience Comes at a Cost With layaway, you didn't get the item until it was paid off. These days, many services allow you to take the item home and pay on it later. This comes at a price. A Word of Caution While it is maybe helpful to break a big purchase into smaller payments, do so with caution. Often, there are some heavy penalties for not making payments on time.  Be sure to read the fine print.  I was recently online doing a ...