Reduce Debt Increase Wealth

Send us Fan Mail How much of net income should be use by each category monthly. Knowing these percentages will help in getting debt reduced and savings increased.  Article Links: https://www.gobankingrates.com/saving-money/budgeting/recommended-budget-percentages/ By Kathy Evans https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/how-to-determine-budget-percentages-to-mee...

Send us Fan Mail Why is setting goals important when trying to reduce debt. Once realized that debt has become a problem setting goals to reduce debt is key to staying on track. Goals that related to reducing debt is covered in this episode.  Article Links: https://www.lucidchart.com/blog/the-ultimate-goal-setting-process-in-7-steps Support the show Please support the show by subscribing, can canc...

Send us Fan Mail Debt can be overwhelmingly difficult to reduce. What is the first steps in getting debt under control. First to identify what cause this problem then to try to eliminate the problem.   Article Links: https://www.consumerfinance.gov/about-us/blog/how-reduce-your-debt/ By Courtney-Rose Dantus https://www.mymoneycoach.ca/blog/how-to-pay-off-get-out-of-debt-with-small-steps.html By Ju...

Send us Fan Mail There is more to personal finance than reducing debt. While reducing debt is the biggest problem it not the only item that is needed in life. The second item is savings the third is protecting the assets that is owned.   Article Links: https://pricelawfirm.com/the-8-ways-to-protect-your-assets-from-a-lawsuit-you-should-know-about/ Edited By Sam Price  Comments, Questions, Requests...

Send us Fan Mail What to do when have little or no retirement savings. First this must be identified early so that changes can be made. More than half of Americans have less than $ !0,000 saved for retirement.   Article Links: https://findcontinuingcare.com/blog/how-to-retire-with-no-mone y https://machenwealth.com/blog/real-life-examples-of-what-happens-when-you-fail-to-save-enough-for-retirement...

Send us Fan Mail Debt management is a must for everyone, to keep credit cards under control. Debt reduction is a must in this time of inflation to stay on track with goals. Before getting started on debt going to talk more about control center and how to use with debt management.  Article Links https://www.incharge.org/debt-relief/debt-management/debt-management-program-template-debt-relief/ By To...

Send us Fan Mail Budget is the control center of personal finances. Without a budget it is impossible to determine the success of goals or determine how and when the goals will be achieved.   Article Links: https://www.rockethq.com/learn/credit/personal-budget-what-is-it-and-why-do-i-need-one By Molly Grace https://www.thebalance.com/reasons-to-budget-money-2385699 By Miriam Caldwell Comments, Que...

Send us Fan Mail Tracking personal finances needs done on a weekly basis. Many do not keep track of anything and get behind on paying bills and do not knowing how much money in checking account. This is important for everyone to do and to stay ahead of bills coming due.   Article Links:  https://www.wikihow.com/Keep-Track-of-Your-Personal-Finances By Michael R Lewis   https://www.thebalance.com/is...

Send us Fan Mail Starting a business to build wealth sometimes works but has risk and many fail. The best way to get started in a business is to have a plan and be debt free in personal life. These are the things that need to be complete before starting a business.  Income is the only way to build wealth so having a losing business will not build wealth.  Article Link: https://www.businessnewsdail...

Send us Fan Mail Found a payoff calculator that can be used to estimate the time needed to pay off debt using my plan. Remember the one-time payment being made and the month made is an estimate so may not be exact in estimating the total months need to be debt free.  Article Link:  https://www.calculator.net/debt-payoff-calculator.html   Comments, Questions, Requests,         contact by email belo...

Send us Fan Mail With inflation on the rise with no end in sight now the time to start reducing debt, and spending. It sounds easy to do but many struggle to grow savings and reduce debt. Here are some ideas to do to make sure the needs taken care of, and savings can increase in a time of inflation.   Article Link: https://www.sounddollar.com/7-steps-to-inflation-proof-your-budget By Elaine King  ...

Send us Fan Mail Increasing the savings account or emergency fund is important in debt reduction. How do you know when and how much to transfer into savings so that money can stay there.   Article Link: https://www.nerdwallet.com/article/banking/savings/emergency-fund-why-it-matters By Margarette Burnette  Comments, Questions, Requests,         contact by email below Reducedebtincreasewealth    at...

Send us Fan Mail Debt reduction can be a daunting task, overwhelmed and not sure how to start. Get paper and pen out, get ready to list the steps needed to reduce debt. First a list in the order to proceed towards debt reduction then will explain that list.   Article Link: https://www.nerdwallet.com/article/finance/find-debt-relief By Bev O’Shea https://www.investopedia.com/terms/d/debt-relief.asp...

Send us Fan Mail Having to work past retirement because cannot pay the everyday needs is not an option. Taking care of needs is necessary so saving for retirement at a youthful age is necessary. There are more bills to pay as we age for example medical. So, what are the benefits of retirement savings.  Article Links: How Much Will Healthcare Cost in Retirement? Prepare to Be Shocked | The Motley F...

Send us Fan Mail What to do when getting debt reduced, many may not know what to do with the money. Do not do wasteful spending but instead set up for success. The things everyone should consider having to make sure finance is never a problem.  Article Links:   https://www.clevergirlfinance.com/blog/important-reminders/ By Bola Sokunbi  Comments, Questions, Requests, contact by email below Reduced...

Send us Fan Mail  Overwhelmed with debt can cause problems, many problems. Taking control of money and getting the debt under control will help everything in life. Making it easier for daily living and long-term goals. Take control of your money, do not let it control you.  Article Links: https://consumer.westchestergov.com/financial-education/credit-and-debt-management/tips-to-reduce-your-debt ht...

Send us Fan Mail In a perfect world these would be determined before buying or renting a place to live. This is not possible in most cases what should be the percentages of income in each category and why this is important in keeping a personal budget. What categories that need to be in a budget and how to group.  Article Links:    https://www.budgetsmadeeasy.com/household-budget-percentages/ By A...

Send us Fan Mail What is tracking expenses and how will this help in getting a budget under control. This is the easiest way to setup a budget and to maintain a budget without using a lot of your time.   Article Links:  https://www.kindafrugal.com/benefits-of-tracking-your-expenses/ By Jerry Graham https://richardkleincpa.com/importance-of-keeping-track-of-your-expenses/     Comments, Questions, R...

Send us Fan Mail People do not like thinking about making and maintaining a budget. The B word is almost like a bad word to most, but the benefits out weight the time and effort to get a budget set up. Maintaining a budget will prevent the problems that are common with most households. The too much debt problem and the lack of money to reduce the debt.    Article Links:  https://www.cabotfinancial...

Send us Fan Mail What causes inflation and how to reduce the effects of inflation on personal budget. Knowing the causes of inflation will help in dealing with this problem. It not a short-term problem but will be a long-term problem.  Article Link: https://www.investopedia.com/terms/i/inflation.asp By Jason Fernando Comments, Questions, Requests contact by email below  Reducedebtincreasewealth   ...

Send us Fan Mail How to reduce the spending and save more money to reduce debt or increase savings. First must identify that there is a spending problem. Then find ways to solve this problem.   Article Links: https://www.nerdwallet.com/article/finance/how-to-save-money By Courtney Neidel Comments, Questions, Requests, contact by email below  Reducedebtincreasewealth   at  gmail .  com Support the...

Send us Fan Mail What the difference between credit and debt, then how does each affect your financial life. Debt can be good and bad, but all credit must be good to have a healthy financial life. This episode is about good debt vs bad debt and having good credit.  Article Links: https://www.experian.com/blogs/ask-experian/credit-education/score-basics/what-is-a-good-credit-score/ https://www.inve...

Send us Fan Mail  Still working on getting credit cards debt reduced. Now the time to start tracking net worth. This will help in determining the progress made in debt reduction. W hat is financial freedom, is it worth the effort? Treat all credit cards as cash, only charge what can be payoff every month. Put extra money into emergency fund, once have 6 months expenses the remaining into investmen...

Send us Fan Mail Having an emergency fund is essential in keeping on track with any goals and plans. Increasing the emergency fund is important as the debt reduced this will help keep the debt under control in the future. Once the emergency fund is large enough then start investing first in a high yield saving, then in the market.   Article Links: https://www.investopedia.com/articles/basics/06/in...

Send us Fan Mail How to get started in reducing debt no matter what type of debt. Credit cards, student loans, Line of Credit, personal loans, and payday loans getting out of debt can be difficult to get started. It can be done without any outside help if you know how and what to do.  Quit using Credit Make minimum payment on debt Start or Increase Emergency Fund Apply excess emergencies fund mone...