This week I’ve found several wonderful blogs that allowed me to reflect back on my personal finance journey and even offer a chance to question my current strategies. I hope you enjoy reading some of these posts that I found motivating and inspiring.
Harvesting Dollars wrote The Debt “Snowball” Or Debt “Avalanche” May Not Be Best For You that discuses whether you should pay off larger creditors first. Dave Ramsey talks about the “Debt Snowball Affect” and the strategy to organize your debts from smallest to biggest. Make minimum payments on all but the smallest debt. On the smallest debt, you will allocate all your other resources. Once you pay off that smaller debt, you move on to the second smallest debt. Repeat process, until you reach the big loan. What has been your debt repayment strategy?
Frugal Dad wrote Why You Should Never Put Credit Cards Before the Mortgage Payment and reminds us of the importance of keeping a roof over your head. If you had a major setback and could only pay one bill a month, what would it be?
No Debt Plan wrote My Wife is Spending Too Much Money and She Knows It. At first when I saw the headline, I thought “Wow”! and then Kevin explains the conversation he had with his wife and the outcome. It’s a hot topic and I wonder how you communicate with your spouse about finances and your household budget? Do you have a family meeting if someone doesn’t stick to the budget?
The Happy Rock wrote Rich Dad, Poor Dad…Owning Your Family History and asks the question of who shaped your spending and savings outlook? Was it your parents, a grandparent, or maybe a neighbor? I remember having some great conversations with my grandmother about spending and investing at an early age. She would make sure to call several stores to find the best price, before making a purchase. This of course was all done before the internet was available. If you’re a spender, who do you take after?
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