Paying Off Debt: Why, Ultimately, It’s All About “Me”

Should I focus on paying off debt by paying extra on my student loan and mortgage debts, or should I just pay the monthly amount due and put extra into my investments? I’ve been asked “Should I be focused on paying off debt or investing?” more times than I can now specifically recall. My old answer was: “Are you nuts?! Pay off the debt as fast as possible!” Where I come from, debt is bad. The entire thought of it gives me the heebie-jeebies. My soul hurts when I remember the days of living under my debtor over-lords. I took a staunch, all-or-nothing, debt-free or bust mentality. The problem with that solution? Everybody’s not me, and for some people “bust” might be a more likely outcome of focusing solely on debt elimination. So what’s my answer now? “It depends.” When faced with paying off debt or not, there are some factors to consider. We’ll get to what it depends on in a minute, but just like everything else – what’s right for someone else may not be right for another. A personalized financial game plan will include a written debt elimination strategy, but that strategy will be largely dictated by where we fall on the Math-Emotion (ME) Spectrum. The Math-Emotion Spectrum I call this the Math-Emotion Spectrum because, well – most people don’t live 100% at either end. Although we may feel like we’re absolutely at one end or the other, some soul-searching would probably result in us finding that we …

Is The Scholarship System Legit?

With the high (and ever-rising) cost of college, many people turn to scholarships to help fund their higher education. Hear how one debt-free graduate did it and turned her knowledge of scholarships into a business. And you’ll finally get the answer to the question – Is The Scholarship System Legit? Student loans are predicted to push past the $3.3T mark by the year 2024 which should have parents, students and Universities quaking in fear. Parents because they’ll be on the hook for a chunk of those loans, students because they’ll be paying off the loans for the next 20+ years, and Universities because at some point society will begin to question whether or not higher education is worth the price of admission. No matter which group you fall into, know this: There are ways to minimize what you have to pay in tuition if you look hard enough. People are figuring out ways to take advantage of you to “help” you navigate this process. Scholarships Are Part Of The Answer While the estimated numbers vary, suffice it to say there are billions of dollars worth of scholarships that go unclaimed every year for a variety of reasons. When I’ve asked high school and college students why they don’t apply for more scholarships they give me answers such as: “I’m too lazy” “Don’t know where/how to look” “My grades aren’t good enough” and “I hate writing essays”. All of which are valid (and very honest) reasons. But none are GOOD reasons. …

4 Reasons To Start A Side Hustle

Wouldn’t it be nice to have multiple streams of income? Even better, wouldn’t it be nice to make money doing something you love? Creating a side hustle not only can stimulate your bank account but can stimulate your mind and soul. There are many reasons to start a side hustle. For me, it was a way to go to school, pursue my dreams, and make extra money. I worked for a cosmetic company for years and loved it. However, the hours were insane and did not allow me to pursue my other passion, finance. I took my network and knowledge of the makeup industry and started my own side hustle. I spent my weekends making brides beautiful. It gave me a creative outlet and a way to make people feel special. By building a side hustle I was able to pursue my dreams and energize my life. Here’s why you need to start your own side hustle TODAY: Side Hustle Reason #1: It will give you an outlet to be creative What could be better than making extra cash and doing something you are excited about. You might love your job but I am sure you also have other hobbies that excite you. Starting a side hustle allows you to develop a creative outlet. When you are creative and use your brain in different ways, it helps inspire you in all aspects of your life. It can also stimulate and expand your mind. You will soon be filled with unlimited …

Want To Get Out Of Debt? — Start Here.

At the age of 23 I was struggling under the pressure of nearly $50,000 in debt between student loans, credit cards, a car loan, and a variety of consumer debts. I remember putting purchases on my already-ballooning credit cards and rationalizing, “if I charge this, then I’ll have cash in my checking account.” My money programming was completely jacked. Looking back, I know exactly why and how it happened. My college career was one long social experiment. My Dad called it my ‘4-year break from reality’. I called it the longest and most expensive party I’ve ever been to. In the first few months of my freshman year, I signed up for a credit card through MBNA in exchange for a 2 pound bag of M&M’s and a seemingly unending source of fun (and ultimately, frustration). Upon graduation, I left my University with a healthy $8,000 in credit card debt at nearly 25% interest. (Almost all of it was spent at a place called Shagnasty’s. *true story*). Within four years I was completely debt free with the exception of a mortgage. For the past decade, my wife and I have lived a life of freedom and flexibility having now amassed a high 6 figure net worth. I want to share with you how to do it yourself… What got you here, won’t get you there. You Can Break Free This post is for anyone that wants (as desperately as I did) to break free from the bonds of debt. It is …