Frugal Rules – John says becoming financially naked with your partner is baring all “about financial debt, outlook, mindset, habits, goals and expectations.” That takes work, especially for those people who regard money matters as personal.
If discussing money is a problem for you and your spouse or boyfriend or girlfriend, read this post. John provides seven steps you can follow. This is an important topic. Marriages fail because people hide or lie about their financial situation.
Stefanie O’Connell – When Stefanie took her first Sex Ed class in school she remembers “that painful hour talking the sex side of sex.” It was uncomfortable but as she says, “at least we were having the discussion.” Many people believe talking openly about finances is also uncomfortable or “taboo.”
She can’t remember money ever being a topic of discussion during her time at school. That’s unfortunate, because if we as a society discussed money more, we’d probably have less debt and financial chaos. So after you have the birds and bees talk, teach your kids about money. They’ll thank you later.
Money Talks News – If you have a hobby you can market, maybe you can make a few bucks off it. But before you do anything, Marilyn says a “professional” attitude is essential, or you probably won’t succeed. Professional means researching the field, interviewing others and making “a thorough business plan.”
Some hobbies with potential include: web design, coaching, cartooning and video editing. If you can’t find anything on her list, try this post on making extra money in the gig economy.
Financegirl – Natalie believes credit cards have good points and bad points. She personally has never used a credit card but her experience as a finance blogger and financial planner makes her opinion credible. With that in mind, she says one myth that people buy into is simply wrong. That myth is: “You have to carry a balance on your credit card to build credit.”
She quickly dispels that myth and shows us how we can build credit without carrying a balance. If you want additional advice on building credit, check out how credit monitoring can help.
Money fed – In this blog we learn that “getting out of debt is a lot like baking a cake.” If you combine the right ingredients, in the proper amounts, you just place the cake in the oven and wait for the results. That’s how Emma describes her debt elimination experience.
She provides us with the appropriate ingredients and great advice that will help you make your own “debt reduction cake.” For additional assistance read this post on how not to pay off credit card debt.