Arrest Your Debt

My friend Leif over at FiveYearFIREescape.com was kind enough to submit this guest post about how he keeps his friends while being frugal at the same time. Without further ado, take it away Leif! Honey, we’re doing it. We’re making a budget, we’re tightening our spending, and we’re finally paying off our debt . Oh, but tonight I gotta go out with the guys. Don’t worry. I’ll keep it frugal…I think. I like to think of myself as a pragmatic, thrifty guy. I know how to save, I know how to invest, and I consider myself good with money.  But until recently, it would all go down the toilet when my friends and I would go out. You see, my friends are not the saving types, and they don’t comply very well with my super-saving-lifestyle. But I can’t dump them. I love those guys. Luckily I developed some special techniques to stay frugal AND keep my friends.  And today, I want to share these with you!  But first, who is this guy??  I’m Leif and my wife and I retired a co...

Do you want a condo or an apartment or both? It’s the age-old debate, condo vs. apartment living. What’s the main difference and which one is better? Generally, condominiums (condos) can be purchased while apartments are rented. While you may have an option of buying an entire apartment complex, most of us are not in that position. Which Is Better, An Apartment Or Condo? To see how they match up, we will evaluate the pros and cons of living in and renting an apartment versus the pros and cons of living in and purchasing a condo. In the past, I lived in an apartment and also purchased a condo. I will share with you my unique perspective and experiences with both. The Apartment Experience Let’s start with the experience of apartment living. When I was younger we lived in an apartment for about a year. Apartment hunting wasn’t so bad. Go online and look at pictures, email the property manager, and start from there. You sign a lease and pay the security deposit, usually a first and...

Searching for loan products online will surely give you a long list of web pages for your peruse. Today, there are various types of loans you can use, and the two most popular are online installment loans and revolving credit. Newbie borrowers often confuse these two loan types, but they have different features you need to know . When you take out installment loans online , the lending company will lend you a set loan amount with an installment repayment structure ( click here to see more  information). Revolving credit is different because there’s a credit line from which you can borrow whatever amount of money until you reach a specific limit . Now, let’s find out more about the crucial difference between revolving credit and online installment loans. How Borrowing Works On Installment Loans vs. Revolving Credit At Arrest Your Debt, we preach “cash is king,” and interest makes other people rich while making you poor. However, if there truly are no other options for an emer...

Prescription drug prices vary wildly across different pharmacies and contribute to the  high cost of healthcare  in our country. On average, an American spends about  $1200 per person per year , more than anyone in any other country. One company trying to help the public reduce these costs – and still get the medications they need – is GoodRx. What is GoodRx? Starting in 2011,  GoodRx  is a startup that created an online website and phone app platform that tracks the prices of different prescription medications. Users can find information on drug prices near them, compare them to various pharmacies, AND get free coupons for discounts. GoodRx checks over 70,000 pharmacies nationwide in the United States and receives millions of visitors each month. The mobile phone app for Good Rx is ranked number one for medical apps for iOS and Android. How it Works There is no need to input any personal information in the Good Rx site or app. It’s free t...

Most of us make way more money than we actually need to survive. Unfortunately, many of us get sucked into spending out of boredom, habit, or a lack of financial planning. Fortunately, we have put together eight different ways to save $500 a month easily! 1. Automate Your Saving To guarantee you save $500 a month, use the strategy of automatically paying yourself first. Most people do their best to limit their spending during the month and save whatever is leftover at the end of the month. Unfortunately, this strategy usually ends with spending more than anticipated, and little to nothing left to save at the end of the month. If you’re using the cash envelope or other budget method , it can be hard to remain disciplined if you have extra money sitting around. To pay yourself first, treat your saving goal as a bill to yourself. Your $500 saving goal could be split into a weekly saving bill, bi-weekly (if paid twice a month), or monthly bill. Pay this bill first, and move the money...

If you have a lot of debt or different types of debt, then a debt consolidation loan might sound like a good idea. However, if you have low credit, you may not have many options. The good news is, you can still get a debt consolidation loan,  even with bad credit . In this article, you will learn about the ins and outs of a debt consolidation loan, the pros and cons of getting one, and what your alternatives are if you aren’t ready to get a debt consolidation loan. What is a Debt Consolidation Loan? A  debt consolidation loan  is a new loan that you take out to cover the balance of your other loans. A debt consolidation loan is a single, larger piece of debt, usually with better payoff terms than your original, smaller debts. When you receive a consolidation loan, your other loan balances are paid off. This allows you to make one monthly payment rather than multiple. For example, if you had one student loan for each semester of your four-year college degree, then ...

Saving money isn’t so much about not spending it, but rather it’s about intentionally spending your money on things that bring you value. How to save money was a foreign concept to me until I hit rock bottom and realized how much I was wasting. This article will teach you several ways to optimize your income and reduce your monthly expenses – without giving up your life in the process. How Can I Save Money With A Low Income? A while back, I wrote a related article about how to get out of debt while living paycheck to paycheck . While that article focused on debt reduction, some of the strategies remain the same. Developing smart money habits enables you to keep a successful budget. One of the best money-saving tips is spending intentionally – not when you “ feel like it. ” A good example is dining out once or twice a month as opposed to several times every week (I was guilty of this). You can also work a side job to increase your income. Sometimes your debt problem may be an ...

Real estate as a retirement investment is often overlooked. If you watch enough late-night television, listen to the radio, scroll Facebook, or watch videos on YouTube, I’m sure you have seen an advertisement or infomercial about one of the “easiest” ways to accumulate wealth using other people’s money. Fast-talking promises of leveraging money to purchase multiple properties, which are then rented out at a profit, are often the promise of these ads. All you need to do is attend a seminar or purchase a book or online course, and your path to financial freedom is set. Unfortunately, reality quickly sets in, and the risks, rewards, and work to become a real estate owner and landlord become very apparent. It is important to acknowledge that being a landlord can undoubtedly be prosperous and part of a diversified portfolio. It is equally important to recognize that in most cases, it does not lead to overnight wealth and can present its own set of hardships. With that being said, we ...