The Long-Term Bucket
“How do I fill up my Long-Term Bucket when I can’t even afford to pay my current bills? Shouldn’t I just wait awhile until I’m in better shape?” I know that’s what you’re thinking. And it makes so much sense to wait, right? Logically, you should start paying off your bills and start building up your checking and savings accounts. And then when you have a bunch of money saved up, you ...Your Short-Term Bucket
We’ve talked about dividing up your future financial needs into 3 Buckets: Short-Term, Mid-Range, and Long-Term. Your assignment was to write out a list of expected financial obligations that will occur in the future, and then group these obligations into these 3 Buckets. The goal for this assignment is to attempt to actually prepare for the future instead of constantly reacting to the present. Wouldn’t it be cool if when that car ...How Do You Fill the 3 Buckets?
You’ve written down your needs for your 3 Buckets and divided them up into your Short-Term Bucket, your Mid-Range Bucket, and your Long-Term Bucket. Now it’s time to fill the Buckets with assets – to pay for those future debts as they occur. Again, I don’t care what you put on your lists – they are YOUR needs, not mine. You’ll just need to figure out a way to pay for them from your ...The Future is NOW! A further explanation of Your 3 Financial Buckets
I always thought that saying was stupid. “The Future is Now!” That doesn’t make any sense. The future happens later, and right now you have creditors to pay. So you should take care of your old debt before considering the future, right? Those bills are sitting on your counter NOW! Those collectors are calling NOW! That other investing stuff comes later, right? Absolutely wrong! The problem with ...S.P.F. Your Debt – A Formula to Pay Off Your Debts Without Getting Burned
Too many bills? Credit scores suffering? Credit payments taking every last dime each month? You try to pay a little extra on each account, but the balances don’t seem to ever go down? How can you possible get out from under this dark cloud of debt? Well, don’t fret. Sunnier days are on their way, if you can figure out a good way to start getting rid of some of your ...The Truth behind Non-Profit Credit Counseling Organizations
Your first step to financial well being is to take control of your consumer debt. There are many credit counseling and debt management options - however, there are some that may be detrimental to your financial health. It is important to research and ask questions, even if a credit counseling service purports that it is non-profit. Once you have done your research and found the consumer credit counseling agency that you ...Understanding the Pros and Cons of Debt Consolidation
Thinking that debt consolidation is a way out of your financial woes? When weighing the pros and cons, you must maintain your focus on your goal of becoming debt-free. Too many times, consumers incorrectly believe that their lower monthly payment on the bad debt means that they are paying less. In reality, many people who obtain a debt consolidation loan pay more money in the long run, due to the long shelf ...Latest Articles
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I’m not ...