There are three top methods for paying off debt: snowball, avalanche, and emotional baggage. When you hear how each one works, you might immediately know which is going to work best for you or you might want to try some of the different methods to see what works best for you. Each of the top methods for paying off debt is going to require you to take a look at all the debt you currently have except the mortgage on your house (if you have a mortgage). Mortgage debt can be treated a little differently than other debt like credit card debt, student loans, car loans, and medical debt.
Budgeting
Budgeting for back to school
‘Tis the season for back to school. Whether or not you have kids, you might feel the pressure of back to school, but it can also be a huge opportunity for you to have a mid-year fresh start. Have you achieved your financial goals for the year? If not, why not use the back to school season as an opportunity to kickstart your plan again. When budgeting for back to school, there are some items you should budget for this time of the year and some ways to use this fresh start to your advantage.
Paid vacation
Every now and then you just need a vacation. It becomes time to get away from your daily life and mix things up. Whether you go on a far away trip or just explore the city you’re in, a vacation can be just the thing you need. Have you ever wanted to get away, but know that the credit card bills when you get back are miserable and will undo all of the de-stressing from your trip? The trick to an amazing trip is to have a fully paid vacation. This requires a little bit of advance planning to save up so you can pay cash for the trip. These three tips will allow you to have a fully paid vacation.
The best way to get your partner on board with a budget
Have you ever noticed that you really want to make progress with your money, but it seems like your partner just doesn’t care as much? In most relationships there is one partner who manages the money and another who is more along for the ride. It can be extremely frustrating and stressful for the partner trying to make the changes because suddenly your partnership feels like you’re on an iceberg trying to wrangle your money and likely getting more and more frustrated with your partner. So what can you do to get on the same page, tackle your financial goals as a team, and get your partner on board with a budget?
Read moreThe best way to get your partner on board with a budget
What is a Financial Coach?
A financial coach works with individuals and couples to help them gain control of their finances and guide them towards their financial goals. While you can take control of your finances on your own, many people find it less stressful and more direct to work with a financial coach. It’s like getting in shape and working with a personal trainer or going for a hike with a trail guide. While you could go it alone, it’s really nice to have an expert walk along with you and share the experiences of what has worked well for others and share encouragement when you get frustrated.
Why Financial Coaching?
Do you know your financial situation isn’t what you want, but you’re not sure where to start to get on track? Do you have financial stress that keeps you up at night? Do you feel like your money is out of control and wish there was something you could do, but you feel so overwhelmed? Do you hear yourself having the same fights over and over again with your partner about money? Do you feel like something has to change and you could really use some guidance, but you aren’t sure where to turn? Do you find yourself overspending without thinking about it and then not having money to spend on things that truly matter to you? Do you ever get paid and just wonder what exactly happens to your money since no matter how much you make, you never seem to have enough? Do you wonder why financial coaching could help you?
Financial coaching is the perfect solution for anyone who wants help creating a budget, making a plan to get out of debt, creating financial goals, and saving more money. Jacki takes a complicated topic and breaks it down in easy to understand steps so you leave with a clear action plan on what to do next to get one step closer to the financial life of your dreams. As someone who at one time had more student loan debt than was on her mortgage, Jacki fully understands the stress of debt and how much it can impact every area of your life. She also knows that by making very strategic budgeting choices, you can more quickly get out of debt and change your financial situation. There is no situation too dire and no one too far gone to help as long as you are willing to make the effort to change and create a better life for yourself with non-judgmental help and encouragement from your financial coach.
Jacki is a college graduate who has been budgeting for over 10 years. She tutored high school math for several years and had success greatly improving grades for students who believed they were not good at math. In 2018 alone, she and her husband stuck to a strict budget and were able to pay off over $50,000 of student loan debt. She believes the topic of money should not be off limits or taboo. She thinks that anyone who is willing to work for their long term, big picture budget goals can achieve them, especially when given the right resources and support.
Think of how much better your life could be if you didn’t have debt payments eating into your income. Think of how much you’d be able to save and how free you’d feel without the burden of debt. Imagine what you could do with your life when you don’t have that stress weighing on you. Learn how to take control of your money and take back control of your life. When you have a clear plan, money is a lot less stressful and that’s just one reason why financial coaching is an important investment in yourself.
When you book your Spark session you’ll get:
- Free, no obligation 15 minute call with Jacki to discuss your personal situation, see if you’re a good coaching match, and determine if you’re ready for the Financial Makeover session.
- If you move forward to the Spark virtual coaching session, you’ll get clear direction on how to gather some initial information before the meeting so you can get right down to business and you can get the most for your money during the coaching session time.
- The Spark virtual coaching session is a 2 hour session. You’ll leave with a clear understanding of your budget, a debt freedom plan, and the confidence that you can manage your money- and do it well!
- This offer includes 3 free bonus printables:
- Budget Template
- Debt Tracker Template
- Bill Payment Tracking Template
The importance of a newlywed budget
Maybe you’re planning a wedding or maybe you and your partner are still in the newlywed stage. In addition to combining your lives, you have the fun task of combining your finances and get to create a newlywed budget. How can you discuss money before marriage to make for an easy financial transition? What do you do when one of you is entering the marriage with debt? What do you do if neither of you knows how to manage money?
Financial Literacy Month
April is Financial Literacy Month in the United States. The month initially started with a focus towards financial education for children and has now shifted to provide resources for people regardless of age. Let’s learn more about financial literacy, why it’s celebrated, and how to get your children involved.
Do I need a budget?
Have you ever gotten paid and wondered where your money went? Do you keep thinking that next time you get a raise you’ll have enough money to live and then somehow when the raise comes you’re still broke? Maybe it’s because you need a budget. Now hold on, don’t tune me out because you’re afraid of the B word. Let’s talk about a budget and how it can really be a game changer for your money and your life.
Emergency fund importance
Does an emergency fund seem like just one more thing you need in your budget? Is it actually important enough that I need to have one? Absolutely. Think about a time when you had an expense that you weren’t planning on. Has the cat needed a trip to the vet? Have you blown a tire on your car and suddenly needed to buy a new one? Have you discovered that your sink is leaking because suddenly your water bill is twice what it usually costs? Bankrate’s 2018 survey on Financial Security found that only 39% of Americans had enough in savings for a $1,000 emergency. With a little focus and budgeting, you can make sure that you are prepared and able to cover an emergency.