Have a Frugal Easter Holiday

With Easter right around the corner, do you find yourself waiting for just ONE MONTH without a holiday?

frugal easter holidayJust one month so you can play catch up and ACTUALLY SAVE your goal savings amount. I understand you and a lot of other people out there are with you.

As parents, we are constantly pulled in two directions. Do we save money?  Or do we buy our little one that extra gift or two?  You tell yourself it’s what your parents did for you.  You rationalize it by thinking it’s a holiday!

Again, I’m with you and I get it. My wife and I are navigating these waters as well with our young son.  It’s not an easy thing.  You see the little face and you just want to give them the world.

However, we all need to be role models for our children. To do that, we sometimes need to make the difficult, but necessary decisions.  Can you say adulting?   (Side note: I hate that term and my spell check doesn’t even recognize it).

That’s why I found some top blog posts from the last few years that I wanted to share as we prepare for Easter. I know Easter isn’t as expensive as Christmas or the child’s birthday, but candy, baskets, and presents can begin to break any well-intentioned parent’s budget very quickly.

Fear not. I found some great tips from other amazing bloggers that can keep you on budget this Easter holiday.

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Become Financially Independent in Your 30s

I have always wanted to become financially independent in my 30s.  It has always been a goal of mine.  It all started for me around 2007 and it coincided with meeting my wife in 2006.  She introduced me to Rich Dad, Poor Dad by Robert Kiyosaki.  Kiyosaki talked about his Rich Dad, who understood how money worked and built businesses.  He was his friend’s father.  His Poor Dad (his own father) was a schoolteacher and was a slave to money.

become financially independent in your 30sKiyosaki spoke about how he learned that having a business is a bridge to building wealth and introduced us all to the E/S/B/I triangle.  E for Employee, S for Self-Employed, B for Business, and I for Investing.  The goal was to move away from being an employee or self-employed (which Kiyosaki called owning a job) and move into the B/I side.  Your goal was to build a business that you could use to invest  From there, you could build true, sustainable wealth.

And I was hooked.  I wanted financial freedom really bad.  These days it’s called “Financially Independent, Retire Early,” or FIRE.  Yes, it’s still a strong desire of mine and one that I’m committed to achieving in the coming years.

What about you?  Are you new to the concept of financial independence?  Have you ever considered it?  Consider some of the points below as a way to jump start your FIRE goals!

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Emergency Fund: Why You Need this 5 Step Savings Plan

We’ve all been there in some fashion: having to put a big unexpected expense on the credit card because we didn’t have an emergency fund.

emergency fundYou go in for your state inspection and you find out that your car needs new tires.

You wake up one morning to find out the toilet in your guest bathroom fell through the ceiling and is now in your living room. (This actually happened to my parents’ place at the Jersey shore.  Luckily, they weren’t there at the time and a contractor let them know).

Your little one gets sick and you have a high deductible. You take him to the emergency room and thank God he’s alright.  But, hooray!  We have more bills to pay!  Emergency room visits aren’t cheap.

The point is life happens. Expenses sneak up on you here and there.

If you’re like many people out there, you’re likely not prepared for them.

So, what do you do? You put them on your credit card.  That’s what everybody does, right?  Not exactly.  The Credit Card Catastrophe might be a reality for those in your inner circle, but there are actually people out there who are prepared for life’s emergencies.

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Debt Paydown: 9 Ways We Paid Off $60,000 in Debt

Are you in need of a major debt paydown?

I’ve been in thousands of dollars of debt a few times in my life.

debt paydownThe first was when I graduated college in 2006.  I left school with $20,000 in student loan debt.  Four years later, I was debt free.

That was until I bought my wife her engagement ring for $10,000.  Fortunately, it appraised for double and I paid the ten grand off in a year.

In 2016, we paid off $30,000 in credit card debt.  We accumulated this debt beginning in 2015.  My wife and I were working in real estate together.  She worked the business full-time and I helped manage things on a part-time basis in addition to my full-time job as an auditor.

Everything changed for us in the middle of March 2015.  It was when my wife saw the 8-week sonogram of my our son, Davey Joe (David Joseph).  My wife fell in love immediately.  It was indeed love at first sight.

After the appointment, we got in the car.  She turned to me and said, “I’m done.”  I asked her what she meant.  She proceeded to tell me that she wanted to close up shop with our real estate business and focus exclusively on nesting and motherhood.

We purchased our $455,000 at that time in a rather expensive zip code in 2011.  We bought that on an auditor’s and teacher’s salary.  My wife left teaching to become a real estate agent.  With our real estate business, we had $250,000 coming in annually.  Now, we were going to drastically drop that down to $75,000 — my salary alone.

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Budget Tips: 6 Ideas That Actually Work

BUDGET.  ​It’s that dirty word that nobody dare even whisper.  It’s so dirty it might even be considered a four-letter word (even though it has six letters).  The word strikes fear budget tipsinto all those immune to accountability and responsibility.  I can hear the audible gasps and sighs coming through the screen.  But, have no fear.  We’re going to walk you through this and give you some excellent budget tips so you can finally begin your journey to financial fitness.

Now, it’s time to learn about these 6 budget tips that actually work.  You can begin fixing your financial situation right away.  Ready?  Here we go!

Budget Tip #1: Figure out what your weekly expenses are and begin tracking every expense.

We all must learn to walk before were can run.  The same goes for this.  You need a budget before you can hope to squash debt or achieve financial freedom.  You need to be able to run 3.1 miles before you can run 6, 13.1 or 26.2 miles.

Your “walking” from a financial sense is budgeting.  And “walking” for budgeting purposes is getting all your expenses accounted for.  Begin by using every single one of these budget tips.

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