Getting Out of Debt: Some Easy Steps

We’ve all been there, and some of us are there right now: debt. Whether it’s paying off some credit card bills, student loans, or even just catching up on last month’s utilities, debt is a factor in many people’s financial lives. Being in debt and having a plan to get out of debt are two very different frames of mind. If you are in debt, here are some easy steps and methods to get started on your road to personal financial glory. Know What You’re Up Against When you’re figuring out how much debt you’re in, take a few minutes to examine the following: -       The amount of debt (looking at these numbers can be hard, but sometimes it makes your actual amount a lot less daunting) -       Monthly interest (are you going to be hammered by interest if you don’t pay it off?) -       Expected length of time to pay it off (timeframes are key here) Get a Plan Decide how aggressively you want to pay things off, or how long you’ve got to make it happen. These decisions are a lot easier to make after looking at the three

So You’re Out of Debt, Now What?

First off, congratulations. Many of us spend a long time working on getting out of debt, and when that day finally comes, are not sure what to do with ourselves and our cash! Sure, it’s a good problem to have, but it’s still worth planning for and thinking about ahead of time. As a debt-survivor, you’re going to look at your bills, accounts and notice a lot of $0 balances. It’s time to celebrate this, but beware of getting back into debt. Don’t celebrate with purchases you can’t afford! Just because you no longer owe money, doesn’t mean you should get back into debt. Debt can be cyclical: some people are constantly back in and out of it… because of poor planning. To get out of debt, you must have been following a lot of our advice, being disciplined and watching your finances closely. Now that the pressure’s off, a lot of your effort can wind down as well – as long as it’s not all of your effort. It’s important to still keep track of your cash and monitor where it’s going. If you’re used to set monthly

$2000 In Cash Prizes & $1 Donated To Food Banks Canada For Each Entry

The Dollars for Debt contest is back and it’s bigger and better than ever! There are $2000 in cash prizes to be won and $1 will be donated to Food Banks Canada for every person that enters and publishes the contest to their Facebook wall. We have a tool that lets you do this in 10 seconds! ENTER NOW to win money towards paying your bills! Contest closes at 12:00pm PST on November 25th, 2010 Free Sweepstakes and Contest

It’s That Time of Year…to Start Your Christmas Savings

I guess we probably should have told you about this earlier, but the December holiday season is right around the corner. If you haven’t started saving for it, now is definitely the time. Any savings you can make ahead of time can really help out with your holiday budgeting. For me, it always seems like the cost of presents, holiday parties, flights and even wrapping paper come out of the blue. We’ve said it before (and I’m sure we’ll say it again) more planning with your money will make things easier later. This doesn’t mean setting up crazy budgets and accounting for every cent of your cash – simply make a few smart decisions now and reap the benefits for important things. Save Slowly, Spent Smartly Do you have an extra $40 each month? If you can save that during the entire year, you will have $480 after 12 months. That seems like a lot of money for December, and not a lot of money each month – that’s a no brainer. With most online bank accounts you can even take the hard work out of it and automate the process. Each month, when you get