50 INSPIRING QUOTES.  We know that sticking to a goal is hard.  Whether your goal is to get in shape, to lose weight, or to discipline yourself financially and live with your means, you need inspiration.  When times are tough, and hard decisions need to be made, goals that only speak to the head will not be sufficient.  The heart has to be involved.

Thus we hope that among this collection of words of wisdom, you will find something that speaks to your emotions.  Remember, the eyes give sight, but the heart gives insight.  Take a few seconds to ponder on each of these thoughts, and gain inspiration to stay with your goals, and make the right choice.  Remember, you can overcome!

“Think like a man of action, and act like a man of thought.” – Henri L. Bergson

“I am only one, but still I am one. I cannot do everything, but still I can do something. And
because I cannot do everything I will not refuse to do the something that I can do.”– Hellen Keller

“Half of the troubles we experience in this life can be traced to saying yes too quickly and not saying no soon enough.” – Josh Billings

“Even if you’re on the right track, you’ll get run over if you just sit there” – Will Rogers

“Man often becomes what he believes himself to be. If I keep on saying to myself that I cannot do a certain thing, it is possible that I may end by really becoming incapable of doing it. On the contrary, if I have the belief that I can do it, I shall surely acquire the capacity to do it even if I may not have it at the beginning.” - Mahatma Gandhi

“You can never cross the ocean unless you have the courage to lose sight of the shore.”- Christopher Columbus

“To a brave man, good and bad luck are like his left and right hand. He uses both.” – St Catherine of Siena

“When one door of happiness closes, another opens, but often we took so long at the closed door that we do not see the one that has been opened up for us” - Helen Keller

“We don’t see the things the way they are.
We see things the way WE are.” – Talmund

“Every problem has in it the seeds of its own solution. If you don’t have any problems, you don’t get any seeds.” - Norman Vincent Peale

“If you change the way you look at things, the things you look at change.” - Dr Wayne Dyer

“The problem is not that there are problems. The problem is expecting otherwise and thinking that having problems is a problem.”
– Theodore Rubin

“Pessimist : A person who says that the letter “O” is the last letter of ZERO, instead of the first letter
in the word OPPORTUNITY.”- Anonymous

“Blessed are those who can give without remembering and take without forgetting”- Elizabeth Bibesco

“Yesterday is history, tomorrow is a mystery. And what about today? Today is a gift. That’s why we call it the present.” – B. Olatunji

“When you get to the end of the rope, tie a knot and hang on.”
– Franklin D Roosevelt

“Your attitude, not your aptitude, determines your altitude.”- Zig Ziglar

“If you’re going through hell, keep going.”- Winston Churchill

“The secret to success is to start from scratch and keep on scratching.”
– Dennis Green

KEEPING TO A GOAL IS A LOT EASIER IF YOU HAVE A PERSONAL ACCOUNTABILITY PARTER…

Here are a few suggestions to help you in making this choice.  The thinking is this:  when our performance is measured, it usually improves.  When our performance is measured and we are accountable for our results, then it usually improves again.

So you’re procrastinating. You’re rationalizing and making excuses. You’re reprioritizing your to-do lists constantly, meaning that one little task never makes it off the back burner.  Maybe you’ve even tried to make one particular job a priority. Perhaps you even started taking action, but somewhere along the way you let it drop by the wayside. It seems like weeks or months have gone by since you first got the idea and yet you never get it done.  Your heart tells you the time is NOW! If you’re serious about doing this project, then it’s time for you to get serious about holding yourself accountable. And the best way to do it is to bring in someone ELSE to hold you accountable.

You see, you can always avoid the task at hand if you’ve decided to hold yourself accountable. And while you think you’d feel guilty when you don’t complete the task, all you have to do is rationalize your guilt away. It was never that important anyway. Or, I can start working on it first thing on Monday instead.  But you can’t do that when you make a promise to someone else. You can’t rationalize and make excuses if your accountability partner stands firm and won’t let you get away with those weak excuses. And eventually, you WILL feel guilty if you’re not doing what you’re supposed to be doing. Here’s how to make the most of this productivity-boosting support system:

* Choose a partner who won’t let you get away with making excuses.  Ideally it will be someone who has overcome a similar bad habit, or has made good progress (farther than you have) towards achieving a new goal.  When it comes to finances, this is especially important.
* Share your long term financial dreams with your partner.  Let him/her see where you stand, where you want to go, and just exactly what it takes each week to get there.  He/she will feel a sacred trust in helping you to achieve this goal.
* Let your partner help you decide what you need to do each week (even every day, if you need feedback that often). That way your partner knows what you should be doing, and is walking your path alongside you.  You won’t be able to fib your way out of completing your task.
* It is better if your partner is NOT your spouse or someone who lives in your home.  We do better when we account to a third party.
* Have your partner call you at a certain time each day or week, asking about your progress.   Do not let him or her leave voice mail.
* Decide in advance about any rewards for reaching certain goals, and what approach you’ll take as a team when goals are missed.  Set these up before the event happens, so you simply follow a pre-set program, without reacting in the emotion of the moment.

If you find that you’re really having problems getting a job done, have your partner ask about your progress two, three or even four times per day that way you can report which bite size tasks you’ve crossed off your list.  This usually will work only for a few days, either when encountering a really difficult task, or when getting the ball rolling after a period of inactivity. Yes, it sounds deceptively simple. But when you know that your partner is going to ask you about your progress and make you feel guilty if you didn’t do what you’re supposed to do, you’ll get the task done. It’s simply less painful to do the task than face your partner’s wrath.

Related posts:

1. January 2011 NO MORE Mortgage Newsletter
2. February 2011 NO MORE Mortgage Newsletter
3. October 2010 NO MORE Mortgage Newsletter

1. Pay the Rent/Mortgage First: Regardless of your financial circumstances, you need a roof overhead, a place to call home, a sanctuary from the world at the end of the day. So, your housing comes off the top of your check.  If your check is not big enough, you may have to relocate or find a roommate. When applying for a loan, I was told the house payment or rent should not be more than 25% of the monthly income. Any amount above and beyond that percentage and you will surely be financially challenged.

2. Pay the Utilities Next: The roof over your head will be very uncomfortable, if you are freezing to death in the winter, or roasting to death in the summer. You need to keep up with your utilities. If you are ever required to pay late fees or reconnection charges, it will be extremely costly and put your finances further in the toilet.  If your utilities are too high, you must conserve. In the winter, turn the heat down a couple of degrees and wear a sweater, if necessary. In the summer, turn the air conditioning down to a bearable temperature. When you are not at home, keep the house about 10 degrees lower than when you are home. The same goes for nighttime. Crawl deeper under the covers and save.

3. Pay the Remaining Bills: Before you do anything else with your money, pay your creditors. You bought it, your pay a monthly fee for service, or you already used it, and you need to pay. If you do not pay your bills, the cost rises for the people that do, your credit will be ruined, and debt collectors will start to call.

4. Buying Groceries: You have met all your financial obligations, and you need to buy groceries. Now what? You already know you do not have enough to shop for your favorite food items. You need to shop sales, used coupons-even if they may be a pain to collect, buy generic, and cut back on your list.  For example, I love a good steak. However, I am on a hamburger budget. So, I buy hamburger. Sometimes, even when hamburger seems too expensive, I purchase eggs, beans, potatoes, and peanut butter. These are excellent sources of economical protein. What you buy at the store may not be your favorite items, or even your preferred brands, but you are doing the right thing to stay within your budget.

5. Say “No”: If staying within the budget is still impossible, you need to learn to say “no”, even to yourself. Personally, I like to watch television, when I have the time. However, if the privilege of cable keeps me from observing the first four budget constraints, it is bye-bye cable. I would much rather feed my kids than watch the news.  If you have more expenses than you have money, obviously something has to go. You may have to say “no” for many things you or your family want, but it is more important to budget for housing, utilities, absolutely necessary bills, and food.  Anything else is optional.

How to stay on a tight budget, and live within your means…

As a single mother of two growing children, I have a tight budget, even with child support payments. Just when I think I am getting ahead, somebody needs a new pair of glasses or a dental visit. Forget that my youngest is having growth spurts and needs a new wardrobe two or three times a year. With my oldest going to college soon, and still paying off my own student loans, I have tough money decisions to make.

Just like everyone else, I have to prioritize how I spend any income. First of all, the house payment, car payment, and student loan are automatically deducted from my account, so nothing is paid until that money is subtracted from the budget. Next, I pay the utilities. Since my first full-time job was working with the electric company for 10 years, and the fact that the family lives in cold country, I know letting those bills slide will only cost me more in the long run. Then, I am trying to pay off credit card debt, one teaspoon at a time. As you all know, paying the minimum is not an option, if a person ever hopes to get out of debt. So, I try to pay extra, and try to keep up with my debt plan software.

Finally, I can go to the grocery store. Now, I know many will say to go to the store first, feed the kids, and then worry about the bills. Some have even criticized me for doing the opposite. However, it works for us.  Since I have a fluctuating income, some months we have a Mac and cheese budget, and other months we can do better.  I will say this—my family has never gone hungry. We may not always get to eat our favorite foods, but my kids always get filled up.

I know I said “finally” about the grocery store, and some of you may be wondering why I put food after debts.  It’s because I believe food is where we can save the most money, and so it’s the most flexible. Others ask me about the entertainment piece of the pie. Well, going to the movies is a once or twice a year treat. We have a library of movies we can watch on the television. We play games on the computer or get out a deck of cards. Between school, work for my boys, and extracurricular activities, we are not really concerned about an entertainment allowance.  We have decided to set them aside for a higher goal, and as a family, we are all on the same page. I can say that I believe the battles we have fought, and the hard choices we have made, will stick with my sons for the rest of their lives.  I believe that as a Mom, I am teaching lifetime skills, and leaving a legacy that will bless my grandchildren.  This is a huge reward for me.

Ever had a “no-money weekend?…

Think about it—when do you spend the most, during the week or on the weekend?  For most people, it’s the weekend.  So, here are some fun ideas on how to combat the 2 favorite days for overspending.  Take it to heart and try it, even once/month, and what new things you can add to your life.

1. Check out the community calendar. Look at your town’s website (as well as those of cities and towns nearby) or stop by city hall to find a list of events going on in the community, many of which are free. You’ll often be surprised at how many interesting (and free) activities are going on right now in your area.

2. Visit your community library. Not only is a library a warehouse of books, most libraries also have extensive CD and DVD collections you can check out. Many libraries also have “story time” for young children, film nights, book clubs, and many other events that you may be unaware of – completely for free. Stop in and check out what they have to offer.

3. Get involved in community sports. Many towns have community sports fields where both youth and adult sports leagues and activities are regularly going on throughout the weekend. Stop by, watch a game or two, and if something intrigues you, look into joining either as a participant or as a volunteer.

4. Get your financial papers in order. This may not sound like a fun activity up front, but the peace of mind it gives you will make your life a lot more relaxing. Spend an hour or two organizing all of your statements and other financial documents. This is a perfect time to start your own filing system.

5. Check out some podcasts. Podcasts are wonderful things – top-notch audio programs available for you to listen to for free. Give some a sample – you can do it easily by using iTunes. Visit the Podcast section of the store and check a few out. My favorites include The Splendid Table (on food topics), Marketplace (on economics and business), Speaking of Faith (on religion), Fresh Air (interviews of general interest), This American Life (quirky general interest stuff), and This Week in Tech (technology news), among many others.

6. Play board games. We have a pile of board games, mostly received as gifts, that we often pull out and play, plus our closest friend has a few choice ones. Classic games like Monopoly and Pictionary can be great fun, but our favorites are Settlers of Catan, Cartagena, Puerto Rico, and especially Ticket to Ride. Just dig through the recesses of your closet, find an old board game you haven’t played in ages, and bust it open!

7. Bake a loaf of homemade bread. You probably have everything you need to make a loaf of bread in your kitchen right now (except for maybe the yeast). Anyone can do it, and the bread turns out deliciously. Here’s a detailed visual guide for making a simple loaf with minimal ingredients and complexity.

8. Learn how to juggle. All you really need is three balls and a video showing you how to do it. Not only is it a fun activity to learn, it’s something that’s fun to bust out as a party trick on occasion (trust me, you can always get people to smile if you juggle three fruits in the kitchen while preparing something).

9. Teach yourself how to change the oil in your car. If you’re due for an oil change, just bring the oil you need home with you and teach yourself how to do it. All you really need is an old pan to catch the wasted oil and a funnel to pour the old oil back into the canisters for later disposal. Just use your car manual as a guide for the procedure and you might just find that not only is it a lot easier than you thought, but it’s a useful skill to have and it’s cheaper than taking your car into Jiffy-Lube (or wherever you take your car for oil changes).

10. Meet your neighbors. Make an effort to introduce yourself to your neighbors if you don’t know them well. Invite any interesting ones over for a cup of coffee and a chat, just to get to know each other better. Your neighbors can not only become friends, but can also be a valuable resource – a friendly pair of eyes on your property when you’re away or a helpful set of hands when you’re trying to complete a challenging task.

11. Have a “cupboard potluck.” Go through your cupboards and find any items that might have slipped to the back over time. Invite some friends to do the same, then get together for a potluck dinner prepared from only these ingredients and whatever else you have on hand. It makes for a “free” meal and a lot of fun for everyone involved.

12. Clear out your media collection – books, DVDs, CDs, etc. Just go through what you’ve got, determine which ones you’d actually like to keep, and get rid of the rest. You can either sell them at a used media shop or swap them online using services like PaperBackSwap, SwapTree, and SwapADVD. In either case, you’ll get rid of stuff you don’t watch or read or listen to any more in exchange for either some money or new media to enjoy.

13. Make a 101 Goals in 1001 Days list – then start on some of them. A 101 Goals in 1001 Days list is a very effective way to codify all of the ideas of things you’d like to do all into one place, so that when you have spare time, you can just turn to the list and do what’s next on it. Spend some time thinking of things that belong on this list, then when it’s finished, you’ll have an excellent list of potential accomplishments and be ready to go with lots of activities.

Some Inspiring Thoughts on Financial Discipline…

Think about it—when do you spend the most, during the week or on the weekend?  For most people, it’s the weekend.  So, here are some fun ideas on how to combat the 2 favorite days for overspending.  Take it to heart and try it, even once/month, and what new things you can add to your life.

1. Check out the community calendar. Look at your town’s website (as well as those of cities and towns nearby) or stop by city hall to find a list of events going on in the community, many of which are free. You’ll often be surprised at how many interesting (and free) activities are going on right now in your area.

2. Visit your community library. Not only is a library a warehouse of books, most libraries also have extensive CD and DVD collections you can check out. Many libraries also have “story time” for young children, film nights, book clubs, and many other events that you may be unaware of – completely for free. Stop in and check out what they have to offer.

3. Get involved in community sports. Many towns have community sports fields where both youth and adult sports leagues and activities are regularly going on throughout the weekend. Stop by, watch a game or two, and if something intrigues you, look into joining either as a participant or as a volunteer.

4. Get your financial papers in order. This may not sound like a fun activity up front, but the peace of mind it gives you will make your life a lot more relaxing. Spend an hour or two organizing all of your statements and other financial documents. This is a perfect time to start your own filing system.

5. Check out some podcasts. Podcasts are wonderful things – top-notch audio programs available for you to listen to for free. Give some a sample – you can do it easily by using iTunes. Visit the Podcast section of the store and check a few out. My favorites include The Splendid Table (on food topics), Marketplace (on economics and business), Speaking of Faith (on religion), Fresh Air (interviews of general interest), This American Life (quirky general interest stuff), and This Week in Tech (technology news), among many others.

6. Play board games. We have a pile of board games, mostly received as gifts, that we often pull out and play, plus our closest friend has a few choice ones. Classic games like Monopoly and Pictionary can be great fun, but our favorites are Settlers of Catan, Cartagena, Puerto Rico, and especially Ticket to Ride. Just dig through the recesses of your closet, find an old board game you haven’t played in ages, and bust it open!

7. Bake a loaf of homemade bread. You probably have everything you need to make a loaf of bread in your kitchen right now (except for maybe the yeast). Anyone can do it, and the bread turns out deliciously. Here’s a detailed visual guide for making a simple loaf with minimal ingredients and complexity.

8. Learn how to juggle. All you really need is three balls and a video showing you how to do it. Not only is it a fun activity to learn, it’s something that’s fun to bust out as a party trick on occasion (trust me, you can always get people to smile if you juggle three fruits in the kitchen while preparing something).

9. Teach yourself how to change the oil in your car. If you’re due for an oil change, just bring the oil you need home with you and teach yourself how to do it. All you really need is an old pan to catch the wasted oil and a funnel to pour the old oil back into the canisters for later disposal. Just use your car manual as a guide for the procedure and you might just find that not only is it a lot easier than you thought, but it’s a useful skill to have and it’s cheaper than taking your car into Jiffy-Lube (or wherever you take your car for oil changes).

10. Meet your neighbors. Make an effort to introduce yourself to your neighbors if you don’t know them well. Invite any interesting ones over for a cup of coffee and a chat, just to get to know each other better. Your neighbors can not only become friends, but can also be a valuable resource – a friendly pair of eyes on your property when you’re away or a helpful set of hands when you’re trying to complete a challenging task.

11. Have a “cupboard potluck.” Go through your cupboards and find any items that might have slipped to the back over time. Invite some friends to do the same, then get together for a potluck dinner prepared from only these ingredients and whatever else you have on hand. It makes for a “free” meal and a lot of fun for everyone involved.

12. Clear out your media collection – books, DVDs, CDs, etc. Just go through what you’ve got, determine which ones you’d actually like to keep, and get rid of the rest. You can either sell them at a used media shop or swap them online using services like PaperBackSwap, SwapTree, and SwapADVD. In either case, you’ll get rid of stuff you don’t watch or read or listen to any more in exchange for either some money or new media to enjoy.

13. Make a 101 Goals in 1001 Days list – then start on some of them. A 101 Goals in 1001 Days list is a very effective way to codify all of the ideas of things you’d like to do all into one place, so that when you have spare time, you can just turn to the list and do what’s next on it. Spend some time thinking of things that belong on this list, then when it’s finished, you’ll have an excellent list of potential accomplishments and be ready to go with lots of activities.

Related posts:

1. January 2011 NO MORE Mortgage Newsletter
2. November 2010 NO MORE Mortgage Newsletter
3. December 2010 NO MORE Mortgage Newsletter

1. Keep all sales receipts and create notes to record payments made without receipts. Drop them into a coffee can or plastic jar or a space designated for receipts. Each time you get a paycheck (or once/month) add up your spending. Sort receipts and notes by expense category. Then regularly total amounts of what has been spent in a category to determine how much is needed in that category each week, or whether spending could or should be reduced.

2. Keep an account book by expense categories.

3. Use envelopes or folders for each category of expenses with an amount of money allocated for expenses for a set period of time, like a month. Record dollar amounts on the outside of the envelope or folder.

4. Pay all bills by check and keep running tallies of how much is left in the allocation for each category. This makes a record system in the checkbook. If it often seems that only particular categories of expenses are the problem, you could monitor only the categories that cause the problems.

5. “Sticky notes” can be posted on credit cards with a notation of the maximum amounts that can be charged on that card. Subtract amounts of expenditures added to the card as you make purchases.

6. An informal method used by some people is the checkbook balance, as a guide to patterns of expenses. If the balance drops below a particular amount, it is an alert to potential problems.

7. Use a budget partner for problems that seem to be spending addictions. Establish a household rule that the expense has to be verbally justified to the budget partner before any expenditure on those items can be made. The budget partner’s role is to ask questions to bring greater understanding of consequences of any expenditure rather than telling the person what to do.

8. Keep Log of “financial emergencies” to determine what they are, what triggers them, and then think of ways to avoid them.

9. Purchase inexpensive computer software designed for electronic record keeping. Be sure to back up your records frequently.

10. Carry a small notepad in your purse, car or pocket to jot down spending.

HOW TO LIVE WITHIN A BUDGET…

Controlling spending is one of the most important habits that a person must exercise in order to ensure not only future, but any kind of financial success. Sadly, today most people are convinced that they need much more to live on than they truly do.  The idea that we need more, in our never ending quest for happiness, drives us to make unplanned expenditures, and debt is the result.

The first thing that could be done to avoid overspending is to develop a budget. This budget should be put in writing, and strictly adhered to. It should be checked several times a week, in order to make sure that you are on track. There is something about having a written plan that makes it easier to consult as an authority than holding it in your head.  It also helps to work with a spouse, partner, or third party consultant that can serve as your “conscience”.

Most uncontrolled spending is the result of impulse buying and lack of planning. One must understand that retailers, restaurant owners, and other service providers are all aware of this. These companies actually count on emotional spending to keep their business profitable. Just because an item is on sale does not mean that it is a bargain, like the lady who started smoking while on holiday in Asia because the cigarettes were so much cheaper than in the US.  A bargain you don’t need is not a bargain at all.

Ask yourself, if what you already have will do the job properly or even well enough. If the answer is yes, then apart from the media induced lust for the newer, better shiny version, there is really no reason that you need to spend more on a new one. Often times people will buy the future, only to find than an item has become obsolete no sooner than it is bought, this is an unfortunate and unnecessary waste of money. As much as we all enjoy it, eating out is an added, unnecessary expense. Of course it is fine to treat yourself once in a while, but not every day. Bring a bagged lunch. Remember, this does not mean you have to eat a peanut butter and jelly sandwich for lunch every day. On the contrary, use last night’s left over dinner to create a spectacular and delicious lunch for the next day, which will so often be better for your health. Eat lunch at the office and then go for a walk. Your waist line and your check book will both thank you for it.

Turn off the lights, turn down the heat, and only purchase what you need today. Ask yourself “if I don’t pick up this item today, will I have to come back and get it tomorrow?” These are a few of the habits worth developing which help to control spending habits. Plus, if you have been previously undisciplined in using a credit card and chalked up plenty of debt, it may be time to locate the scissors and apply for a Pre-Paid Credit Card instead of the traditional “spend what you don’t have” type.

HAPPY CLIENT TESTIMONIALS…

Before I got married to my husband I was in a lot of debt. I had been on my own since I was 19 and had purchased things on my credit cards just to get by. When I got married my husband and I decided that we would both claim zero dependents on our W-4’s so that we could get a refund at the end of the year. When we get the refund each year we put it in an account that pays off something we may own on, like my new car payment (I had my old car for 10 years). This year we may put our tax refund toward helping to pay off our student loans. The best advice I can give is to live below your means, track every dime that goes out the door, and work together as a team.  It is too hard to do it alone.
_______________

My husband and I did not have much money saved up before the birth of our son 2 years ago. So, therefore, when I went on maternity leave, we racked up a lot of debt on our credit cards. Soon after, we refinanced our mortgage and used some of the equity to pay off the credit cards. However, not long after we refinanced, our credit cards were maxed out again and we both bought new vehicles both with $500 monthly payments. We were in a bind again, but I kinda had a wake up call in July 08.

I made a budget on an Excel spreadsheet and I decided to get our act together. We stopped our impulse buying and eating out. We started picking up side jobs and we sold unused and unneeded items on ebay and yardsales. I took up using coupons and watching sale ads for bargains. We tracked all of our spending and put all of our efforts into “fixing holes” and focused all our energy on one debt at a time. We had two of our credit cards paid off by the following December and we were able to pay for Christmas without using credit!! This year we have started a few savings accounts and we were able to remodel our bathroom and kitchen (on a tight budget & doing all the work ourselves, of course) with the money we have saved. I plan to have our two vehicles paid off in a year and a half by paying extra on them every month.
_________________

We are getting so close to being debt free (excluding our mortgage). We used our tax refund this year to pay of our line of credit and haven’t used it since! We just this month paid our credit card balance off in full. I’m so excited to get my bill next month and to see it say, “amount owed….$0”.  Whoo hoo! I haven’t had a zero balance on my credit card since I was 16 years old. Just to imagine the interest that I have paid makes me ill. I will never charge more than I can pay off at the end of the month again!  Big lesson learned. Now all the money that I was paying on those two bills are going toward finishing off our car payments. They should be gone by spring. So next years tax money won’t have to be earmarked toward paying off our bills. I can’t even imagine what that will feel like.

How did we do it?  We stopped looking at ads because we realized they were making us spend.  We worked together as a team.  We stopped eating out.  We tried to spend a month “on paper” before it actually started.  If our spending came in under our estimate, we rewarded ourselves with a treat (and we even budgeted for that).

I’m really excited (you probably couldn’t tell….lol).
______________

Before we were introduced to the principles you’re teaching, we didn’t think that our financial situation was that bad.  We had a little bit of credit card debt (from lack of an emergency fund), a car loan, and student loans.  No big deal right?  Until you add it up and realize that you have $23,000 of debt on a $39,000 yearly salary.  So we went crazy and paid it off… in 26 months.  Yes, that’s nearly $1000/month that totally went to extra principal.  How did we do it?

We decided that this was going to be our mission, and that we would not rest until it was done.  We estimated it would take us 3 years, but we did it in less.  It got to be a total passion of ours.  We figured there was no better way for us to invest than in becoming debt-free, so we even stopped retirement contributions to focus everything we had on the debt.

I can say that there is more than an economic benefit to being done with debt.  It just plan feels so good!

We got on a budget, and then my husband took on (a lot of) extra work while I kept things going on the home front. I am amazed and shocked that we could do it so fast!  It took a lot of sacrifice and doing without, but we rewarded ourselves when the credit card was paid, when the car was paid, and when the each of the 3 student loans came off.  I want to encourage others to keep it up and kick debt out for good! Now on to the emergency fund!

- – - – -

Hope you enjoyed the 2011 January No More Mortgage Newsletter.

Related posts:

1. November 2010 NO MORE Mortgage Newsletter
2. NO MORE Mortgage: Budgeting Tips for New Budgeters
3. Customer Reviews

Most of us don’t realize how much our emotions are tied into our spending habits and our build up of debt (both of which eat away at our future by reducing how much we are contributing and building for retirement). Many of our clients at NO MORE Mortgage have felt the same way until they experienced the peace of mind that comes with being in control of your finances and having a solid plan in place.

Do you have a fear for your financial health lurking around in the back of your mind? It’s normal. Until you get a handle on your finances and your debt, knowing exactly where you stand and putting a plan in place, you’re living in the financial wilderness. And the wolves are waiting to pounce on your money and your future.

We’re all familiar with the term “comfort food” and often partake when fear, worry, or frustration are eating at us. For many people, the same can go for spending. They go out and spend when they feel stressed out or frustrated. Or they buy something on “impulse” without thinking about how it affects their bottom line and their future.

Fear, worry, and stress all create a climate for making bad choices and a lack of focus on what you should be doing and what you want for your future. And as you buy more of what you really don’t need, you’re robbing yourself of your future income for retirement by not contributing more, or even enough. Your emotions can lead you to become focused on today and trying to comfort yourself while you push your needs for tomorrow into the back of your mind. If you aren’t thinking about your future, it’s one less thing to be stressed about. So when are you going to think about your future?

A NO MORE Mortgage Financial Analysis will help you understand where you are financially.

Where do you feel you are right now financially? Are you treading water with no land in sight? Are you on a path where you think you’re heading in the right direction but aren’t really sure? Are you just winging it and hoping for the best? Or do you have a plan in place and know right where you are financially?

I’m going to guess that where you are today is not where you thought you would be if you had written it down 10 years ago. Most people haven’t made much progress in the last 2 years on paying down their debt and many have increased their debt.

If you’re not where you want to be, getting ahead of your debt and building your future, why aren’t you? Let’s look at a couple of the pitfalls or mistakes we make in managing our finances.

First of all, who do you listen to? Are you getting advice on your finances from your friends or family? They’re usually in the same financial situation that you are. We tend to spend our time with people that are a lot like us. So if they aren’t in a drastically better place than you are, why would you listen to them? You need to listen to people that are either much better off than you due to what they did themselves about their finances, or you need to listen to a financial professional with a track record.

What about the people on TV, talk shows, or the internet? Be careful there. You have to remember that many of the big personalities make a lot of money off of books, website subscriptions, advertising, and newsletters. They may not appear to be charging people for their “advice,” but they are getting paid a lot of money through other ways. Some of them give great advice and some of them really don’t. And it’s easy to get into information overload when you spend your time watching or listening to them since they have to cover many topics to appeal to a large audience.

Are you on the path to NO MORE Mortgage and financial security?

Another mistake that almost everyone makes is to not know how much money they really owe when you include the interest that you will pay out based on how you’ve actually been paying your bills. You can’t rely on looking at the balances due on your statements.

Fortunately, you can change the path you are on quite easily. You really need to find out how much you owe on all of your debt and how long it will take to pay off. Knowing this alone could help you make better decisions and could help you reduce unneeded spending.

Call for your complimentary NO MORE Mortgage Financial Analysis today.

We offer a free service at NO MORE Mortgage where we create a “no cost, no obligation” analysis of your debt that shows you not only how much money you will pay out on your debt, but how long it will take to pay it off based on how you pay your bills today. Our analysis also shows how much you could save in interest and how much sooner you could be completely debt free with our automated program that does the work for you.

Watch this short video on NO MORE Mortgage and then call us for your free analysis at 800-285-9102.

Thank you for visiting us at NO MORE Mortgage, where a debt free future can be yours today!

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