Earn it! Plan it! Save It!

This month we will talk about saving your hard earned money, communicating about finances and having a mutual understanding of your goals. Everyone has goals! We dream of having that big house, a nice car or even both! So the best thing to do is make a plan to eliminate debt and save up for the things you want! I already know what you're thinking because I've been in your shoes before! You might be thinking "What if it takes forever to pay off my debt?" or "What if I miss out on a perfect housing market opportunity?". Those are all legitimate questions that I had myself! The goal for me is to not just be out of debt, it's deeper than that! I know that debt has taken a toll on me and my life. Shall I go even further to say it has taken a toll on my marriage! I personally would rather wait to make any big purchases and be free of the debt, free of the burden and struggle! Then think of all of the money you've been throwing towards your debts, all of that money can now be saved! I'm more of a visual type person so let me show you! Car payment : $300/month Medical Bill: $150/month Medical Bill: $100/month = $1000 per month that goes toward debt! This doesn't even include Student Loan: $300/month your monthly gas, groceries and utilities! Credit Card: $150/month Imagine with me... Car payment : Paid in Full Medical Bill: Paid in Full Medical Bill: Paid in Full = $1000 that becomes EXTRA INCOME THAT YOU CAN SAVE!!! Student Loan: Paid in Full Credit Card: Paid in Full Imagine that!!! One thousand dollars each month that has nowhere to go! The next step is to give that money a purpose! Tell that money to go into a savings account for that nice car you want! Twelve (12) months of saving will get you pretty close to your goal! Not a lot of time if you ask me! Just imagine how it would feel walking into a dealership with CASH in HAND! Banks will hate you because they will not collect interest from your car purchase but hallelujah, another perk!!! NO INTEREST RATES!!! So I will leave you with this.. You get up everyday and you go to work. You work hard to provide for yourself and your family. Work smarter, not harder with your finances! Save money and purchase things with cash! Stop buying things on credit and paying interest! Nikki Glover, Home + Grace