Why Are We in Debt
- Created on 03 March 2014
The MISSION POSSIBLE challenge will hold the first Team Debrief. This is a time for participants to connect, reflect and recharge. We’re moving through The Total Money Makeover by Dave Ramsey. The initial chapters have us doing some introspection and evaluating long held attitudes toward debt. As Uncle Dave says, we’ll be dealing with “the person in the mirror”.
Feel free to join us on this FREE webinar. Register for either session and get ready to dump debt!
See you online!
Excuse Me, I’m In Debt
- Created on 28 February 2014
Have you ever considered the excuses used to justify racking up the huge debt levels? “I deserve it”. “I’m treating myself”. “You only live once”. “I needed it”. Lately, I’ve been inundated with excuses. Excuses why it was done. Excuses for doing it moving forward. I get it. Everyone arrives at the debt free depot on their own steam and in their own way. Until then, own it. No excuses. Excuses connote a certain level of discomfort with a decision. If your current financial lifestyle floats your boat, there’s no need to convince yourself…or those around you. Just own it. If not, then excuse me, ix-nay the xcuses-eay…lease-pay! If not, read on.
We have excused ourselves into a tenuous situation.
A Short Sale Short Story
- Created on 25 February 2014
Our short sale saga is winding down. Now that I can relax, relate and release; it’s time to pen the pros and cons of this experience. In an earlier post on the Point of Points, I explain exactly why the short sale option was considered. Now, let’s talk how.
There is one glaring lesson from this experience. BE PATIENT! Who knows why approvals, correspondence, and information took soooooooooo much time. Deadlines continually passed and required renewal. If time is of the essence, a short sale may not be your friend. We submitted an offer in September and plan to close toward the end of February. Compared to traditional home purchases or even auction deals, the short sale process lasted a great deal longer.
No Buy Month 2014
- Created on 21 February 2014
Hey Team Debt Free. Let’s try another round of No Buy Month. What is a financial fast? It’s a great opportunity to dial back your spending, focus on managing your resources, and purchase only the essentials. You will learn a lot about what you think you can’t do without. The rules of the challenge are posted below. We found this on a great site, Savvy Brown, and think the No Buy Month will go great with our MISSION POSSIBLE project.
- Created on 21 February 2014
Debt Free Diva, Tyrease Dixon, is starting the Kingdom Financial Fundamentals book club. This online book club will review a new financial literacy selection every other month. Daily discussions will take place on our Facebook page. Beginning March 1, we’ll tackle Making Your Money Count: Why We Have It, How To Manage It by Kenneth C. Ulmer. The beauty of an online book club is that you can participate at your leisure. There are no specific times that you must post or join the chat. Simply read one chapter a day. Post your thoughts on each chapter the very next day. This book club helps us continue to talk about all things that relate to your money, because that's what we love to do!
Celebrating While Dumping Debt
- Created on 18 February 2014
Let’s be clear. This post is for those who are serious about dumping debt. How do you celebrate and honor special occasions while digging out of a mountain of debt? YOU DON’T! You’re in debt. You want to get out. Aside from a long, lost wealthy relative making your day or winning the lottery – at which I openly scoff (and I don’t often scoff openly); you have to pay the price. Getting out of debt will cost you some discomfort, some sacrifice, and some missed celebratory opportunities.
Now for a little clarification. You don’t spend money to celebrate and honor special occasions. Justifications to spend money that should be used to dump debt are a dime a half-dozen. Those justifications are likely why you have debt problems now. Yes, the goal is to eliminate debt. However, you also want to modify those behaviors that led to debt or the problem isn’t gone, it’s just on vacation.
- Created on 03 February 2014
In 2014, the Debt Free Divas are ready to take our directive to the next level. It’s time to energize your stand against debt. MISSION POSSIBLE will challenge you to prioritize your personal finances, encourage you to accomplish goals, and motivate you with our supportive community spirit. This mission is for those who seek financial improvement; regardless of your starting point. This week, we’re building the team designed to change lives. Get in on the ground floor by registering in the form below. Let’s make 2014 the year we make tangible progress TOGETHER!
Rent vs Buy
- Created on 29 January 2014
Whether to rent vs buy depends entirely on individual circumstances. Understanding that I’m squarely on the fence, let me share how we recently approached that age-old question.
Rental property is a “side hustle” that I’ve been developing for a few years. Our initial condo was purchased with this intention in mind. After the birth of our daughter and condo rules restricting the number of occupants over 2 years old, relocating became a necessity. Scouring the rental market reinforced a key theme, renting in Chicago can be quite pricey. We need to move. Should we rent or should we buy?
The Point of Points
- Created on 25 January 2014
I have been waiting to exhale this story for many months. We f…i…n…a…l…y have approval to close on a new place; one to more comfortably house this growing family. While I do believe close quarters can produce a tight knit unit, four people in a 700 square foot condo is a bit much – even for me. We’ve opted for closeness with a separate room for munchkins.
The short sale process is complete. A story worthy of a post entirely all its own. I’ll tackle that one later. Today, let's talk points. I’ve always had a working head knowledge of points, but never seen them in action. Our loan offer included an acceptable interest rate of say, 4.6% with 1.25% in points.