Here are some articles that caught my eye this week…
Have an old cellphone or iPod sitting around that had that shattered screen? Old laptop that died? Here are some options where you may be able to get some cash from old or even broken electronic gadgets.
One important key that helped me when we were getting out of debt was simply tracking our remaining balance each month in a very simple spreadsheet. Paying off debt can be frustrating as you slog through month after month. There were times that it got discouraging as I wondered if I was really making any progress. In those times, I found encouragement by looking back to where I was 6 months or a year before. It helped me to remember the progress I was making.
Very few people would ever consider going without insurance on their home, yet many people fail to get disability insurance. The chances of your home burning down are about 1 in 1200, but the chances of you suffering a disability that causes you to be unable to perform your job for at least 90 days at some time before age 65 is 1 in 8! How well would you be able to get by if you lost your income for 90 days or more?
If you want to be successful, you need to do what successful people do. Some very sound life principles here.
The #1 principle for avoiding fraud is never forget if it sounds to good to be true it probably is. Any time someone promises you unrealistic guarantees or incredible returns, you need to run the other direction. And the second most important principle is never, ever invest in anything that you don’t understand. If a sales person ever tries to pressure you to buy, tells you just to trust them, etc., chances are good you about to buy a bad product. Always look for an adviser who is willing to take as much time as possible to explain the investment to you in a way you can understand.
Paying off debt is hard and without making it a priority it will simply never happen. But what would it feel like if you had no debt? How much better could you sleep at night? What could you accomplish if the money you are sending out in payments was available to you to give, save, or invest? How different would your life be if you lost your job or had a major medical event and you were debt free so you didn’t have a bunch of financial stress on top of the other stress you were feeling?