DEBT DIET

Have you ever heard the say; you can wonder into debt but, you can’t wonder out?

Well! Getting out of debt is like going on a diet—it may sound simple, but it sure isn’t easy. The only thing that really works is to spend less and save more.

Debt doesn’t benefit nobody, it doesn’t benefit your life, it doesn’t benefit a marriage or a family or your future. Just as in the past few years I’ve experienced the satisfaction of being fitted, I have also eexperienced the pain of being overweight. It has been a rollercoaster and emotionally draining! Is so much alike that debt also has its consequences. Here are a few reasons I think everyone should avoid debt:

  1. Debt makes you a slave/servant to your lender.
  2. Debt steals from your future.
  3. Debt hinders/makes it impossible sharing with others and practicing generosity.
  4. Debt erodes resources through high interest payments.
  5. Debt promotes impulse buying.
  6. Debt is like money leaking from your pocket or bank account
  7. Debt compromises your retirement
  8. Debt is like having winter all year round
  9. Debt controls your money not you.
  10. Debt is NOT sexy.


The number one thing we recommend to start you on a debt diet is having a game plan.

My amazing husband, Anuar, and I have experienced the incredible miracle of being freed from $47,000 in consumer debt. We purposed to get out of debt and made immediate changes in our lifestyle to accomplish this, and within two years we were debt free! Funny thing is, like I said; you can wonder into debt or even sometimes debt can creep up on you. Murphy has a way to make his way. No, sometimes you’re not even looking to getting into debt but, I guarantee you, if you don’t always have a plan for your money someone else will. We made up our minds, made a decision, prayed for God’s help, and found the strength we needed keep the commitment to become and stay debt free. Thus, the first step is to decide to become debt free and determine to do it God’s way. Read, how to payoff debt with a low income

Get on a budget.

We cannot stress this enough! We have tons of resources and ideas available here on our blog to help you with this, feel free to explore around and get in touch with us let us know how we can help and serve you best!

Write down your debt on paper from smallest to largest. Make a chart with the amount you owe on it, add to your monthly budget the amount you’re planning to pay each month, once you have processed that payment go back to your chart and make the changes.

We believe that following a regime will help you stay in charge but, more importantly will help you get out of debt a lot sooner. Read, the silliest thing I did to payoff debt.

What other plans have you implemented to get out of debt?

Have you ever been on a debt diet before?

leave us a comment or connect with us we would love to hear from you.

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3 Money Myths You Need To Ignore.

There is no shortage of bad information out there – and falling for some of it can cost you money. It could be other people who steer you in the wrong direction, or it could be the things you tell yourself. Whatever the source, believing these myths could be hazardous to your financial health. Not knowing truth doesn’t make it any better, in fact ignorance isn’t bliss! Ignorance is poberty. Our goal is to encourage you to get the truth behind these bits of financial misinformation. The following are three basic very common money myths.

Myth 1 – I don’t need a savings account because I have a credit card.

This is a surefire way to get into debt. A savings account is crucial because you can’t always plan for emergencies and the unexpected in life. Instead of charging medical costs, car repairs, and home improvements on your credit card, dip into your nest egg of cash and avoid debt altogether. The Bible doesn’t prohibit borrowing, but it does discourage it. Read The Secret to Saving Money

Myth 2 – I don’t need to pay my credit card off in full every month because I am building my credit.

This is a very common myth – that credit card companies want to see your ability to pay off balances steadily and over time. But this actually doesn’t do anything for your credit score! It just prolongs the amount of time you’re in debt and the amount of interest you are paying. If you use a credit card for cash back rewards or airline miles points, pay it off in full every single month. Commit to not be in debt, even if it’s for a short period of time. Read The Silliest Thing I did to Payoff Debt

Myth 3 – I don’t make enough money to have a budget.

You should have a budget no matter how much money you make. But if you live paycheck to paycheck or find that money is tight, it will be even more vital for you to stick to a budget. A budget allows you to know exactly where all your money is going so you can control it, instead of it controlling you. Read Budgets Are Designed to Help You.

What are some common money myths you’ve heard or known over the years?

Can you relate any aspect of this post to your current situation?

leave us a comment or connect with us we would love to hear from you.

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MONEY & MARRIAGE – MARRIAGE & MONEY

Marriage And Money Challenges. Experts agree that finances can be the number one cause of marital strain. It’s understandable that financial struggles can cause strain because how people spend money is never just about the money — it reveals attitudes about what you value most; it reveals deeper character issues. These are some of the reasons blending financial habits can be very challenging.

Marriage can be what a couple decides it can be, there’s always the notion of differences in marriage for example in marriage one spouse can be a saver and the other one a spender, or maybe both spouses are savers, maybe both are spenders! Whatever the case may be There is hope! In this post, our goal is to provide great ideas to help you and your spouse make your marriage stronger by tackling the issue of money management in marriage.

MONEY MANAGEMENT STYLES A HUGE PIECE OF THE PUZZLE IS THE DIFERENCE IN MONEY MANAGEMENT STYLES.

It’s easy to forget that marriage is a commitment to forge a new life with another person. The lack of trust emerging from society has created prenuptial agreements and separate bank accounts in many marriages. These undermine the commitment to a shared life with a spouse and are contrary to biblical teachings. In marriage is not his money or her money. It is our money. Whenever financial issues begin to get out of hand in a marriage, the first thing to do is to pray about them. And in fact prayer should be a style of living we’re not getting into a sermon here but, life in marriage is easier when there is prayer involve. My husband and I pray about pretty much everything, specially when we are talking money and there is decision making involve. When we have to use money for something that’s not in our budget, we both pray overnight and by morning the next day we both are ready to make a move. Weather we decided to use our money or not. There is no substitute for God’s answer though. If prayer, time, and communication cannot help you then you might need help from a marriage counselor, which is usually recommended even before your marriage life begins. My husband and I went for counseling with my pastor before our marriage, he asked some great questions, gave us some great examples and advices that we still live by even to this day. So, don’t think that you only need a counselor when there’s a problem no, it is a blessing and a great idea to see one even before your life journey together begins. Find a counselor who is trained to help couples resolve issues diplomatically. The difference in money management styles:

1. The Morphostatic Style. These are people oriented to the present. They buy what they want now and don’t wait for a sale or even evaluate whether particular purchase is necessary. The Morphostatic style have inflexible standards—they simply want the best. They also tend to be fairly conventional in their buying and planning, operating by a set of rules it is the way they’ve always done it and as far as they’re concerned it is they way it’s going to be.

2. The Morphogenic Style, These are flexible people, wanting as many people as possible involved in the purchasing process. A Morphogenic person usually considers all of the possible consequences involved in a particular decision and takes considerable time to reach a conclusion. What happens when these different types marry? It isn’t hard to imagine some of the fights that could develop around financial issues.

Kim is tired, . She had no idea Tony mismanaged his money carelessly, he brought that behavior with him into their marriage. The debt, from student loans, to credit card, car note, and now his sport events. She didn’t know his needs and desires in marriage would be such a challenge. She and her husband had overcome many challenges, but their greatest ongoing problems surrounded money. Her spouse was a spender, she was a saver; she liked to balance the checkbook to the last penny, her husband hadn’t entered anything in the register in years. The result was numerous volatile eruptions and conflict that both she and her spouse wanted to avoid. It shouldn’t have been a surprise. Had they communicated and have a budget committee meeting monthly. The good is, they’re now taking the time to sit down and like we said before there is hope. Read budgets read budgets you may also want to read emergency fundsemergency funds plus our bonus FREE Online ClassesFREE Online Classes

Budget Committee Meeting Dave Ramsey THE SECOND PIECE TO THE PUZZLE LEARNING TO COMMUNICATE.

The concept of a budget committee meeting comes from Dave Ramsey, the goal is that both spouses put their differences aside and adopt a new set of values to improve and benefit their money management skills and marriage relationship. when couples learn to agree on their money and are determined not to let it drive them apart, they form a unity that is crucial for a successful marriage. The challenge in a marriage is to work through the different identities, ideals and values you each bring to the relationship. You win at marriage by losing your need to get your way in every battle. You get a happy marriage by giving up selfish desires in order to win together—you create shared visions and goals out of your own individual goals! The budget committee meeting also indicates that both spouses will share mutual interest towards their money therefore they both will value and respect each others input and ideas. t’s important that both spouses be involved with creating the monthly budget. The partner with the natural gift can prepare the budget, but the decision-making must be done by both of you. When you sit down with your spouse to have a budget committee meeting, there are three rules that each of you must follow. Rules for the nerd :Listen take input Keep it brief rules for the free spirit: Show up give input be realistic. Remember that opposites tend to attract in marriage, so work together for maximum wisdom. When you have a budget that reflects both of your goals and ideals, you will experience fabulous unity in your marriage. Dave’s powerful class, Financial Peace University, we highly recommend it is perfect for couples to strengthen their communication about money—even if they’re not in debt. Dave even focuses an entire lesson on how we relate with money in different ways. My husband and I have been through FPU it is a great tool that teaches you how to be better stewards of God’s blessings and how to handle money God’s way. When You Sit To Talk About Money:

• FIND COMMON GROUND Be willing to show empathy, be understandable, open minded and none judgmental or critical about your spouse or what happen in the past. You’re starting a new chapter in your lives you both should be willing to look forward to what’s ahead a what the future holds in store for you as a married couple.

• MAKE TIME TO TALK Don’t wait until your credit card is way over the limit and the ridiculous interest percentages blow over the roof or another hot financial issue happens to bring up the subject. The goal is to have a calm relaxed discussion when there’s no particular money issue at hand.

• TALK ABOUT YOUR FEELINGS Volunteer your own feelings about a financial issue men often have the inner pressure to be the providers at home, and the only thing they expect from their wife is respect. As a woman know how to talk to your husband with respect but also have or seek the wisdom and honestly share your hearth and how you truly feel with your husband and encourage him to do the same.

Women are often seeking a sense of security. I cannot describe in words, there isn’t enough words to express how I feel about not having enough to cover basic things. Money isn’t everything for a woman, but not having it can be a very stressful situation. When you get your money at the end of the month and are ready to work on the next month budget we suggest you first give God what is his, pay your tithes and use a percentage of your money to pay yourself before you pay anyone else. If paying yourself 10% of your income at first is too much, choose a reasonable percentage but do it, pay yourself first and get in that habit. After you have give God his portion and you have pay yourself cover your four walls. (Housing, food, utilities, and transportation) after you took care of your family needs pay everyone else. If you are deep in debt or maybe just in debt period follow our recommended debt pay off method check our website www.redtogreeneconomy.com for more information.

Share your thoughts with us. How do you relate topic?

Yadira Lino Castro Financial Wellness Consultant www.redtogreeneconomy.com You Can Find Us Here: Facebook: https://www.facebook.com/ylino Instagram: @lala_ag Pinterest: @yadiz08 WordPress: @yadiz08 Skype: @yadiz08_1 Linkedin: Yadira Blessed Lino Castro Youtube: https://www.youtube.com/user/godsweetgirl

HOW TO PAY FOR COLLEGE WITHOUT USING STUDENT LOANS

 
I was motivated to write this post after having a college planning chat with a good friend of mine. I know planning for college can seem overwhelming for the student and the parents.

my friend is a parents educator and the mom of Three. This was a good conversation but, it wasn’t as good as I thought it would be, I was excited and anxious to hear what my friend had to share with her parents. I most mention that only one of my friend’s kids still lived with her and had to make a college decision at the time of our conversation, my friend started her speech to her parents that day by saying: “it is impossible to save and plan your children education, knowing that you’ll always have a car payment. I knew right there and then that this wasn’t an easy topic for her in spite of the fact that two of her children were grown and gone.




But, there’re so many options to help your teenager get ready. I know, I know,  you have to deal with the SAT and ACT scores, keeping grades up in high school and researching the best schools, but your teenager also has to start filling out applications for colleges, scholarships and grants. Stay positive There’s so much to do that it’s easy for your mind to go numb because of all the details.

But as much as your teen might want to get lost in their video games and forget about application deadlines, you can’t let them do that! This is their future we’re talking about.

As much as you and your teen may want to wait and procrastinate, it’s not a good idea to put all these applications off until the last minute. When they do that,they’re more likely to make mistakes, which could cause delays in the application process. Or they could cause their applications to be rejected altogether!
Sit down and make a plan. Once the acceptance letters start rolling in, I promise you won’t regret it!

Consider also an ESA (Education Savings Account) you not always have to have a car oayment that is a shallow way of thinking. An ESA are Funds in these accounts that grow tax-free and are tax-free when withdrawn for K-12 or college education expenses before age 30. ESAs also offer increased flexibility. Investment options are virtually limitless, and you can make investment changes at any time the reason I like ESA vrs 529 is because with an ESA you have more control of the money and therefore you can make decisions as to the 529 where you invest more but have no control. Yes with an ESA Contributions are limited to $2,000 a year per child. You’ll be subject to the same taxes and penalties as a 529 plan if the funds aren’t used for eligible expenses. The ability to contribute is subject to income limits, but children also can contribute on their own behalf.

At a Glance of ESA vrs 529

 529 College Savings PlanCoverdell ESA
Tax advantagesXX
Qualified withdrawals can be used for K-12 expenses X
Qualified withdrawals can be used for post-secondary expensesXX
Wide variety of investment options X
High contribution limit (more than $250,000)X 
No income limits for contributorsX 
No withdrawal age limitX 

You can considere also: Federal Aid: The good news about federal aid is that it accounts for the largest amount of aid available. The bad news is that federal aid is largely based on financial need. So if your family’s income is above the maximum income for eligibility,don’t be discouraged. You can take advantage of several other sources of aid.

State Aid: This is based on a combination of financial need and achievements. From now until you head to college, you should work on your grades, test scores and extracurricular achievements to increase your eligibility for these scholarships





Military Aid: If you or an immediate family member have served or plan to serve in the military, then look into military aid. This is a great way to serve your country and get your college paid for!