Disturbing stats, a shopping addiction, a frugal community and a spending freeze.
Frugal, Debt Free Life — Disturbing news indeed. Lydia found an article that revealed, “There are 13 states in the United States that have debt that exceed the debt carrier’s household income.” And the stat is based on non-mortgage debt.
One state is Alabama — and that’s where Lydia lives. Citizens there have debt eight percent above their household income. She discusses some other points included in the article and then provides tips on getting ahead of debt. Her first is “stop the cycle of borrowing.” Check out her other tips.
Financial Best Life — Many people who are bored, don’t have a hobby, or get a shopping high when they buy things, don’t realize how much money they’re spending online or at the mall. They simply don’t track their spending habits. Lauren remembers spending her leisure time during her college years at the mall.
And during that time she spent nearly $200 a week on clothes. That adds up to $9,600 a year. She relates her story, provides some signs that may reveal a shopping addiction, and gives the six ways you can overcome your addiction. For example, stay away from retail stores.
Young Adult Money — Rachel says people usually “do three things in regards to their bad habits — they accept, ignore, or try to change the bad tendency.” If you have some bad money habits, ignore the first two and take on the last point.
I think changing the fifth habit would help many people — stop buying bottled water. And let me add something: Take a break from all the expensive energy drinks, too. Bottled water is a joke. If you won’t drink tap, invest in an inexpensive water filter, or as she says, a water filter pitcher. Read on, and then check out 60 ways to save money.
Our Next Life — Tanja and her husband moved from Los Angeles, where their friends dined out a lot and didn’t act frugal, to Tahoe — where they fell “right into an existing frugal friend group right off the bat. It was incredible luck.”
She discusses the benefits of building a frugal community, such as “lower cost social time and activities,” and also how to build one: “talk about your goals with existing friends.” I really enjoyed this post. If you’re interested in building a frugal community, give it a read.
Bravely — Kara’s trying to save 70 percent of her income this year. And she doesn’t really budget, but she lives a frugal lifestyle. So, she did this spending freeze. She was hoping it would “reset” her finances and present some challenges.
She did “break the spending freeze” a few times during February, but overall it was a success. But she didn’t just save more money, Kara also learned a few more things about herself.
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Article last modified on July 3, 2018 Published by Debt.com, LLC . Mobile users may also access the AMP Version: This Week Around The Web - AMP.