We’re all guilty of it from time to time.
Even with the best laid plans, it’s inevitable that we’ll go over budget now and then.
But what happens when it’s not just a little thing here and there? (Those are almost unavoidable). What happens if it becomes a serious problem and consistently puts you over your budget?
Compulsive spending habits can cause serious strain on your finances and your relationships with others. The good news is, there is a way to overcome it if you put some effort into it. And, contrary to popular belief, you can still enjoy life even if you’re not spending more money than you have.
Let’s learn some ways on how to avoid overspending.
Ohhhh, the temptations!
If you’ve got money headed your way at tax time, you might have dreams of a Disney vacation, new kitchen appliances or a theater room upgrade dancing around in your head.
What should you really do with your tax refund? And can you resist the temptation of the cruise you’ve been dreaming of while you try some more practical approaches how to spend your money.
Let’s take a look at what you should really be doing with that money.
These days, student loans are very common. In fact, student loans have reached the trillions of dollars and 42.3 million people carry a student loan. A recent report from the Federal Reserve Bank of New York showed there were $1.34 trillion in student loans.
NerdWallet reported the average student loan for those graduating with a bachelor’s degree in 2015 had a student loan debt of $30,100. Some student loans (including ours) are much more than this and if you and your spouse both have student loans it may tip the scale to over $100K in student loans that can take more than a decade to repay.
Here are some things to think about when you are considering refinancing your student loans.
Imagine your world if you didn’t have any debt.
What would that feel like? How much of a raise would you give yourself by being able to keep more of your money?
Imagine the freedom that comes from knowing you are in total control of your money. You don’t owe anyone anything and you own everything you have free and clear.
There is a great sense of peace that comes with being debt free. Like a tremendous burden being lifted and not having to worry about money so much.
There are some steps you can take to work toward this goal.