All tagged debt

33: Stop Putting Christmas on Credit

The first Christmas that we really took our debt problem serious I knew that I needed to significantly scale back our Christmas spending. I was already on such a tight budget that even spending anything was a problem. It wasn’t that we made not money, it was that we had SO MANY PAYMENTS.

Car payments

credit card payments

truck payments

mortgage payment

utility payments

school loan payments

hockey registration payments (this is a real thing in Minnesota)

life insurance payments

health insurance payments

The list goes on…

Can you relate?

So I committed fiercely to stop the madness…

Episode 32: Navigating a Job and a Business Together with Chris Browning

Today on the podcast I interview Chris Browning. He is a financial expert with his own journey of needing to take a hard look at his own finances. Just because you are an expert in finance doesn’t always mean you have it all together. He experienced his own hardships due to medical expenses, wedding, moving and getting married.

Can you relate?

He is a financial teacher who had his own money problems. How crazy is that? It’s normal actually. He took his own advice and got himself back on track.

We are all subject to money hardships. Chris advises the first step is to really figure out how much you are spending. Sit down and write out a detail budget of 1-2 months worth of spending. It usually is pretty obvious where the money is leaking. Chris found that food was one of his biggest spending areas. Once you understand the flow of money you can start allocating it. Chris paid off $27,000 of debt and breaks down his own plan and goals for his money to get himself retiring early.