You want to first tackle debt that has the highest interest rate first. Ideally, you would be paying extra on these types of loans first until they are paid off and then snowballing money spent on that loan into the next loan you have. You’ll probably find varying opinions on this as some are math based, others are based motivation and staying committed.

The are countless ways a person can make a monthly budget. With so many options, it can be overwhelming to know which way is better or more successful. My advice: Research about many of them and take from each the elements or the concepts that you like and make the most sense for you.

Money is a major stress point and is only compounded when more than just yourself relies on the same money. The best advice is to have open communication with the whole family to make sure they are onboard.

A monthly budget, in my mind, tracks where all of your money is going every month. In other words, a monthly budget includes everything you’re spending money on. How you categorize your spending is where the art of budgeting is different for everyone.

This budgeting concept has been popularized by Senator Elizabeth Warren. You divide up your after-tax income: 50% on needs. 30% on wants. 20% on savings. This budgeting style is rather casual, but can be effective so long as you always know where your money is going.

Living paycheck to paycheck makes it very difficult to find a way out of your debt. However, it is possible and it starts first with changing your mindset and believing you can make the changes needed to create a budget and live within your means.

 Often times our greatest achievements come when we’ve had the support and accountability of a friend or mentor. 

 It’s so much easier to save a a couple hundred dollars a month than it is to come up with $1,000 for new tires or whatever. 

 Living on the side of having nearly nothing, it makes you appreciate the kindness and generosity of others. Whether directly, or indirectly. Everyone is fighting a battle we know nothing about.

When I was unemployed, the amount of my monthly expenses seemed to tower over me like the Empire State Building. What seemed manageable, was suddenly daunting.