#debt payoff advice

[bitchesgetriches]

I'm utilizing the snowball method and trying to determine which credit card balance to put the most money toward. I know I should choose the one with the highest interest, but when I looked at how much interest is being charged I noticed that one with a lower APR was charging more because my balance on that card is higher than the others. So should I put money there first, or am I missing something? I'm extremely math-averse and appreciate your insight. Thank you in advance!

We gotchu, boo!

You're actually stuck in some question between the Snowball and the Avalanche method. The Snowball recommends you start with the smallest balance, the Avalanche recommends you start with the highest interest rate. And we explain how to navigate the two in the link below.

BUT YOU, my child, have an entirely separate question. Should you start with a lower APR with a high balance because that's costing you the most in the short term?

And the answer is... you decide. If you're going for mathematical efficiency, then it sounds like you have your answer. And if you're going for what will give you the most peace of mind... it's about the same answer: start with the card with the highest balance. The trick is to pick what feels right to YOU, regardless of what will save the most money.

The Best Way To Pay off Credit Card Debt: From the Snowball To the Avalanche 

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[charmedtodeath]

These Traps We Fall Into | Robert Stahl/fem character (Part 1)

Summary: Agent Stahl is working on a case investigating corruption in the NYPD when he discovers his asset has more to offer than just intel and evidence. (Third person POV)

TW/CW: stalking, obsession, obsessive behavior, abuse of authority, abuse of power, possessive behavior, inappropriate behavior, general creepiness, age gap

a/n: Hello, fellow Warren Kole enjoyers. I didn’t want this to be Shades of Blue 2.0 so in place of Harlee, the detective character is a man with an unnamed adult daughter. Third person despite being a reader insert because it’s easier to tell the story that way and a lot of people hate first person POV lol. Loosely inspired by an idea sent to @rors-grvs

Read on AO3

Part 2

Special Agent Stahl has never been the type of person to just let things go. Winning and being right are the most important things to him, and he'll stop at almost nothing to get what he wants. He craves control and power, among other things. What he didn't expect during his most recent investigation on corruption in the NYPD was how much he ended up craving her.

Stahl, of course, had profiled her detective father and knew almost everything there was to know about him: where he lived, what kind of car he drove, where he stopped for coffee in the morning, and all about the racketeering and corruption he was about to be arrested for. His daughter, on the other hand, only thought of her dad as a morally upright man who'd sworn to protect and serve, and had no idea about the payoffs he was taking. He was just one of New York's finest. Dear old dad was simply making the community a better place and it showed, according to the improved crime statistics in Brooklyn.

So when her dad suddenly began having to work on more cases than usual and was acting strange, she chalked it up to coincidence. New York City was always a busy place and there's no rest for the wicked. She herself was too swamped to really pry into him and figure out what was going on, and she felt like a bad daughter for not trying harder.

After all, emotionally supporting him was the least she could do while he was letting her stay with him, rent free. Medical school isn't going to be cheap and scholarships and grants won't cover everything. She's been spending nearly all her available time picking up extra ambulance shifts to save as much money as possible in an attempt to avoid drowning in debt later down the road.

As much as she wanted to follow in his footsteps and become a detective like him someday, she took after her mother instead. They had been a stereotypical couple; a cop falling in love with an emergency room nurse. After a couple of kids and a divorce resulting in her younger brother preferring to live with their mom and stepfather, she stayed in NYC with Pops.

Medicine seemed like a more promising career, anyway, with a lower likelihood of getting hurt on the job. On the advice of her pre-med academic advisor, she had picked up a job soon after turning 18 as an EMT for the FDNY to get a taste of emergency medicine. She loved the adrenaline rush and the chance to help people at their worst. Eventually, she was able to complete the steps to become a paramedic the year before finishing her undergrad degree in biology. The acceptance to four different schools soon came along and she'd be starting at NYU this coming fall. She loved the energy of the city and didn't want to give it up for more rural locations. There was simply no better place to live and breathe the intensities of emergency care.

All in all, it was really the perfect situation- she got to move back in with her father and save thousands on rent, work was close by, and it would still be a few months before she had to start commuting to Manhattan for school. That being said, things had changed by the end of May. Her dad was suddenly working insane hours and she'd usually end up eating dinner alone, sometimes not running into him again until the following morning. Seeing him abruptly run down and anxious sparked her worry and she decided to catch him at breakfast to investigate after a week of his strange behavior.

"Is everything okay at work, Dad? I haven't seen you around much this week."

"Oh, there's no need to worry about me, kid. Just have a lot going on with an extra heavy caseload, that's all." It wasn't unrealistic for him to have a thick stack of case files to get through, but it had been relatively quiet in Brooklyn for the past few months. The uptick in activity has been worrying her.

"If you say so. Just so you know, I'm gonna be back super late tonight. Running a double today."

"Don't hurt yourself working too hard. I love you."

"Love you, too. Maybe you should take your own advice, though. I'll see you later." Without another word, she slides on her work boots before leaving the apartment, and she swears she hears him sigh in relief once she's halfway through the door.

It seems like everyone in Brooklyn decided that today was the day they absolutely needed to go to the hospital. There were nonstop ambulance runs all morning and afternoon, and she and her partner barely had time to go back to their base location in between runs. So much for catching up on podcast episodes.

By the time she gets back home, it is well after midnight and all she wants to do is shower off the sweat and grime before collapsing in bed. Luckily, she's on second shift next so she would be able to sleep in. If she had been more awake and alert, maybe she'd have noticed the contents of her dresser being slightly askew, or her hair brush a few centimeters to the left of its usual spot. Her father had taught her to always be alert and observant, but pure exhaustion made her overlook the fine details.

In fact, she had become so hyperfocused on work and training a new EMT for the past few days that she had failed to notice she was being tailed. Nobody would have questioned a man in a suit with a badge at the scene of a shooting. If she had seen him, she would have assumed he was just another detective milling about while she treated victims and sent away anyone who needed to be transported to the hospital. The following day, she paid no attention to the same man watching her in the freezer section of the grocery store on her way home.

She had learned to be vigilant about more traditional threats in the city- people walking a little too closely behind her at night, creepy onlookers who were overly fascinated by female paramedics and tried to flirt while she was working, or intoxicated patients that harassed and tried to hurt her in the back of the ambulance. These kinds of threats felt more real because she could see, hear, and sometimes smell them.

All the years of training and learning to defend her personal space and emotional boundaries were worth nothing compared to someone who picked apart people for a living. Her father and his Street Crimes Unit had been under surveillance for weeks before he was ever arrested, and she was simply an afterthought to most people working on the case. Daughter, age 23, lives with surveillance subject in Brooklyn is what they'd note about her before moving on to the next part of the profile. Robert Stahl is not most people.

At first, he was only interested in taking down her father's corrupt lieutenant and trying to link him directly to the laundered payoff money. But as soon as Stahl laid eyes on her, he knew this detective was the one he'd be picking up and offering an immunity deal to in exchange for becoming an FBI informant. Her dad was very careful to hide all of this from her, not wanting to add any more undue stress in her life when she was about to start medical school. Stahl was careful to hide his tracks as well, making sure she didn't spot him while he was watching her and not stealing anything each time he broke into their apartment. He would look, he would touch, but he wouldn't take.

She had become a personal project to him, a bonus that came along while he was working on a real investigation. It took only weeks for his obsession to grow and fester into something so powerful that he swore he'd do anything to protect her. If her father didn't hold up his end of the bargain and ended up in prison, Stahl would ensure she was taken care of. He could give her a better home and a better life than her father was capable of.

When things began to fall apart for the detective and he was spending more and more time away from home, Stahl was able to sneak into their apartment as often as he wanted. With a GPS tracker carefully hidden in the thick sole of her work boots and location tracking on her dad's phone, he didn't have to worry about either of them showing up at home unexpectedly. He was free to invade her space, touching her clothes and imagining her wearing outfits for him, laying in her bed and picturing her there with him. He was fully hooked and didn't want anything getting in his way. He'd be damned before he let another man take her away from him.

Stahl quickly began manipulating her environment to get what he wanted, jealousy getting the better of him. The little things bothered him the most. Firefighters talking to her and making her laugh, male partners on her ambulance, and any other man that got a little too close for Stahl's comfort when he was watching her.

All of this, and she had no idea he was there in the background every step of the way. She didn't have that feeling of being watched. There was no presence in every room she went into, or an inkling that she was being followed down the street. Stahl was too careful for that, so he intervened in invisible ways.

She often stops at a convenience store near the EMS station to pick up snacks and drinks, and it was clear one of the clerks had taken a liking to her. Most of the time she'd be in and out in less than five minutes, sometimes by herself and others with her partner. Either way, Stahl didn't like the way this young man looked at her.

"Getting the usual again, I see." She places the energy drink and peanut M&Ms on the counter, pulling out her credit card to pay as her trainee waits by the door, flipping through a magazine and sipping his own energy drink.

"Any small treat on a busy day is worth it. Probably shouldn't be drinking this crap, though."

The clerk takes the opportunity to shoot his shot with her, and clears his throat before making a move, "I know you come in here all the time and that you're really busy, but if you want to let off some steam, there's some pretty good parties in Flatbush on weekends. Let me know if you ever feel like hanging out. Don't bring the ambulance, though." Seeing that cute little laugh through the windows is enough to make Stahl furious.

To rectify the situation, he takes out his phone and places a fake 911 call for an old woman having chest pain in the vicinity of the convenience store, knowing the call will almost certainly be sent to her unit. He smiles to himself when he sees her talking into the radio. Once she comes outside again, he can finally hear that sweet voice.

"10-4, ALS unit responding," she tells the dispatcher. "Come on, Probie. Let's see how you do with this one."

Stahl watches as she hops in the back of the ambulance while the trainee rides up front with her partner, flipping on the lights and siren before pulling away from the curb. He follows far behind, not worried about losing them since he already knows where they're headed. It's too bad he can't follow her around for longer today. After all, there's still a real investigation to work on and he has to meet with his asset. He wants to hate her father to the core, but this angel was created by the man he so desperately wants out of the picture and he has to be somewhat thankful for her existence.

Following another attempt of getting her father to wear a wire to collect a scrap of indictable evidence, Stahl waits in his car to listen in on the conversation while scrolling through all his pictures and videos of her. He touches the screen in an attempt to stroke her soft skin, his imagination working on overdrive to think of what it would be like to touch her. It would be so easy for him to sneak into her room later while she's sleeping and play with the loose strands of hair splayed across the pillow or sweep his fingers over those strong legs she keeps hiding from him under her cargo pants. But no, he wants her to want him first. He needs to hear her say it.

[bookshelfdreams]

Hi, thank you so much for the advice! just being some guy (gn) is a good way to see things, it reduces the pressure to compensate people for tolerating or spending time or helping me. as for the person i talked about, i'll treat their offers of help as bids for connection because that's how i'd like others to treat mine. and i'll work on building up the courage to ask them about what makes them happy. have a good day!

you're welcome! you're right, we gotta stop keeping tallys of interactions. ideally you both will get something out of the relationship you have w each other. it's not a competition. let go of viewing every interaction in terms of debt and payoff. that's so healthy of you, I'm proud of you.

you'll figure it out. I believe in you. lots of love <3

[shig-a-shig-ah]

so um… ghul… I need advice (if you can give it)?

So you’re a college professor right? Well, for a while now I’ve really been thinking about going back to school (I’m 25, by the way) because I’d also like to become a college professor, ideally in creative writing/something in the writing field.

So I was wondering if there was any advice/warnings/general information you might be able to share that you think would be useful.

You don’t need to spend too much time answering. I don’t want to inconvenience you. But I could just really use any words of wisdom since this is something I really really want but am scared I’ll be blindsided by something (I did a little college back when I was 18 but ended up having to leave due to personal reasons, so I have some experience on what to expect, but not a ton).

Anyway, hope you’re having a good night.

Hi! Always happy to give advice and warnings about the dumpster fire that is academia, so I definitely don't mind the question or feel inconvenienced. I should clarify though that I'm a PhD candidate, not an actual professor--so basically, I'm a very advanced graduate student who teaches instead of taking classes. But, being a professor is the goal and I'm pretty well versed in the ups and downs of pursuing an academic job.

And I have warnings. So many warnings!

The first thing to consider is just the amount of time it takes to become a professor. While you can get some jobs with only a Master's degree, they're few and far between, and especially precarious. For anything secure, you basically have to have a PhD. That means 4-5 years of undergrad, assuming you're starting basically from scratch, and then at least another five years for the doctoral degree. Keep in my mind that most people take longer than that to finish a PhD, too--I'm in my eighth year of grad school (sixth year in my actual program because I did a master's beforehand), and the average time to degree for my department is seven years. I know people who took ten. I may take ten!

Second, the academic job market is terrible. In many, many ways. There are basically two options--tenure track and adjunct. Tenure track pays better, comes with stability, and is probably what most people think of when they think of being a professor. Adjunct positions are short-term teaching contracts that only last for a semester, and often pay worse. (Imagine cobbling together a full-time job by teaching multiple classes a couple universities to make $30k a year with few benefits, if you're lucky).

Tenure track jobs have more stability, benefits, etc., but are also really fucking competitive. It's not unusual to have hundreds of applicants for one position, and even then it likely still won't pay as much as most other jobs requiring that level of education. On top of that, you generally have to also hustle to public papers, present at conferences, etc., just to be competitive for these jobs. And, as a bonus, it's almost guaranteed that you'll have to relocate to find a position, so you could easily find yourself moving to Arkansas to make $45k a year after a decade of schooling. Things are especially competitive and underpaid in the humanities, like writing-related fields, too.

Now, it's not like it could hurt to pursue it as an option, but going back to undergrad just for that being the goal is maybe not the best idea; it's definitely better to go in with a few possible paths in mind. Because it's a big time commitment for very little guaranteed payoff, and that's without even considering that just getting through grad school is fucking hard, and pretty much guaranteed to leave you with a lot of debt unless you have a partner to financially support you. And there are things that are great about it--you get a lot of autonomy, and I really love teaching so I have a great time--but I also pretty much agree with the advice I was given before starting, which was: if you can picture yourself doing anything else, do that instead.

[goldenrefundretrievers]

Reclaim Your Surplus: Expert Tips on Foreclosure Recovery

Dealing with foreclosure can be tough, but there’s a positive aspect many people miss: surplus funds. When your home is foreclosed and sold at auction for more than you owe, the extra money, known as foreclosure surplus funds, could be rightfully yours. Here, we provide expert tips on how to recover these funds and get back on your feet.

Understanding Surplus Funds

Surplus funds, also known as surplus money or excess proceeds, refer to the amount of money left over after a foreclosure sale when the property sells for more than the outstanding mortgage debt and associated costs. When a possession is foreclosed, it is usually sold at an auction. If the winning bid exceeds the total amount owed on the mortgage, including any interest, fees, and legal costs, the excess amount is considered surplus funds.

The Importance of Foreclosure Surplus Funds Recovery

Recovering foreclosure surplus funds can provide a much-needed financial cushion during a challenging time. These funds can help you:

Pay off debts

Cover moving expenses

Secure a new home

Rebuild your financial stability

Steps to Recover Your Foreclosure Surplus Funds

Identify Surplus Funds Availability

First, determine if surplus funds are available from your foreclosure sale. You can do this by contacting your county’s clerk of court or visiting their website. Look for the surplus funds list, which is often publicly available.

2. File a Claim

Once you’ve confirmed the availability of surplus money, the next step is to file a claim. This usually involves submitting a formal application or petition to the court. Be prepared to provide documentation such as:

Proof of identity

Foreclosure sale details

Mortgage payoff information

3. Understand the Deadlines

Each state has specific deadlines for filing claims for surplus funds. Missing these deadlines can result in losing your right to claim the money. It’s crucial to act promptly and follow the legal timelines.

4. Seek Legal Assistance

While it’s possible to handle the claim process independently, consulting with a foreclosure recovery expert or attorney can simplify the process. They can help you navigate the legal requirements, ensure all paperwork is correctly filed, and represent your interests in court if necessary.

Tips for a Smooth Foreclosure Surplus Funds Recovery

a) Keep Accurate Records

Maintain detailed records of all foreclosure-related documents, including notices, sale details, and any correspondence with the court or lender. These records can be vital when filing your claim.

b) Monitor the Status

Regularly check the status of your claim. Some courts may take several weeks or even months to process surplus funds claims. Keeping yourself updated can help you quickly deal with any issues.

c) Be Suspicious of Scams

Unfortunately, the foreclosure surplus funds recovery process can attract scammers. Be cautious of unsolicited offers from companies or individuals promising to recover your funds for a fee. Always verify the legitimacy of anyone you choose to work with.

Wrap Up

Foreclosure can be a challenging experience, but reclaiming your surplus funds can provide a crucial financial boost. By understanding the process and following these expert tips, you can navigate the foreclosure surplus funds recovery process with confidence. Remember, acting promptly and seeking professional assistance can significantly increase your chances of successfully reclaiming your money.

If you’re feeling overwhelmed or unsure about how to proceed, connect with us for guidance. Golden Refund Retrievers LLC team of foreclosure recovery experts can provide personalized advice and support to help you reclaim your surplus funds. We understand how complicated this can be and are here to help you every step of the way.

For more information or personalized assistance, connect with us today. We’re dedicated to helping you recover your surplus funds and move forward with financial stability.

[thatmcgwords]

First, let’s differentiate financial independence from financial freedom. Financial independence, or FI, is when your assets pay for your lifestyle. This means you no longer have to slog away at work forever. Financial freedom, on the other hand, is more about having choices and control over your cash flow – say, being able to splurge on a vacation without freaking out about your bank balance. As you claw your way toward financial independence, you’ll start tasting bits of this financial freedom.

FI has many benefits beyond ditching your nine-to-five early. It allows you to grab life by the reins, feel secure, and have the freedom to go after whatever floats your boat – be it chasing your passion, traveling, or just chilling. On your path to FI, you’ll also develop personally and learn skills that enhance your life.

Stage 1 is the Explorer. Here, you’re struggling just to keep your head above water, sinking deeper into debt each month. At this stage, you need to get your income and expenses under control. 

Stage 2 is the Cadet. You’ve got your expenses sorted but are still drowning in consumer debt. Focus on smashing that debt faster than the minimum payment schedule. 

Stage 3 is the Aviator. Now debt-free (except maybe a mortgage), you can start building emergency savings and an “FU” fund for those I-wanna-quit-my-job moments. This is also the stage where you shift gears to investing and growing your assets. 

Stage 4 is the Commander. You have enough money from your assets to take time off, work part-time, or do something you love for less pay. You’re still investing, but also enjoying your hard-earned freedom. 

Finally, Stage 5 is the Captain. Congratulations – you’ve hit your FI number! Full financial independence. Your job now is maintaining your wealth and living your ideal lifestyle without financial constraints.

stages? The key is to focus on six things: mindset, habits, income, expenses, liabilities, and assets. These form your FI formula. First, add mindset and habits, and then multiply them by the difference between your income and mandatory expenses. This creates the so-called gap, which you’ll then divide into three: liability reduction (that is, debt payoff), asset building (that is, savings and investments), and discretionary spending (that is, your fun money). The larger your gap, the quicker you’ll progress through the stages. 

First, take a hard look at how you view money. Do you find yourself thinking, “I’m no good with numbers,” or “I can’t save without a six-figure income”? These limiting beliefs are the first roadblocks you need to bulldoze. Equally important is examining your daily habits. Track them for a week, and you’ll start to see patterns, both obvious and subtle, that are quietly eating away at your financial health.

After this introspective phase, it’s time to focus on improvement. This could mean learning through books and podcasts, seeking advice from professionals, cultivating a growth mindset, or introducing positive habits into your routine. These actions are essential to reshaping your financial management approach.

The next key component is goal-setting. These generally fall into two categories: life goals and financial goals. 

Life goals are all about the kind of things you want to have and the experiences you crave. They can also mean the kind of life you want to lead. It’s essential to determine your preferred lifestyle from the get-go because, by doing so, you can tailor your financial plan to sustain that lifestyle both now and post-FI.

To know your desired lifestyle level, you can use the Guacamole Lifestyle Levels. This five-tier system compares standards of living based on the ability to indulge in small luxuries. Level 1 focuses on basic survival, with rare small luxuries. Level 2 permits occasional splurges outside of a tight budget. Level 3 integrates frequent, guilt-free minor luxuries into the budget. Level 4 allows flexible, unrestricted indulgence, often at premium costs. Level 5 epitomizes extravagance with limitless luxury access. Remember, there’s no universally right level – just pick what feels right for you. 

On the flip side, financial goals are more about specific monetary objectives: how much you want to earn, spend, save, and invest, and how to manage debt. Here, the focus is on increasing income and cutting spending – achieving these lead goals paves the way for gap goals like saving, investing, and paying off debt.

After setting your goals, organize and prioritize them. Break them down into short-, mid-, and long-term goals, and sort them by importance. As you move forward in your journey to financial independence, it’s important to balance these responsible financial targets with fun lifestyle goals. 

You can’t start creating your FI plan without getting familiar with your numbers first. Understanding your current financial standing is undeniably a crucial step. 

So, where do you start? By taking a close look at your existing financial landscape – your current income, expenses, assets, and liabilities.

Your income isn’t just your nine-to-five paycheck. Consider everything, from side gigs to property income to investment dividends. If your income fluctuates, average it out over the last three months.

Now, on to expenses. There are two ways to go about tracking your spending: look back at your past three months of expenses, or observe the next month’s expenses. Categorize them into must-haves and nice-to-haves, and fixed versus variable costs. Don’t forget to note how often these expenses pop up.

Assets are next. When it comes to assets, it’s about accounting for everything of value that you own. This includes retirement accounts, such as 401(k)s and IRAs, taxable investment accounts, cash balances, real estate properties, and other forms of investments.

For liabilities, list out every debt you’ve got – credit cards, student loans, car loans, you name it. Keep track of the details, including minimum payments and interest rates. 

Got all that down? Great. Now let’s talk about where you want to be – your financial end goal. This part requires some forecasting: how your income, expenses, assets, and liabilities will look in the future, plus what your target FI number is. 

Tools like the 25x Rule and the 4% Rule provide guidelines for this. The 25x Rule suggests multiplying your desired annual retirement spending by 25 to estimate the necessary size of your investment portfolio. The 4% Rule states that you can safely withdraw four percent of your investment portfolio yearly over a 30-year retirement without depleting it. When planning, consider other potential income streams such as pensions or rental incomes. Also, think about how your spending could change in retirement – maybe less on the mortgage but more on health and travel.

All right – time for the real action: budgeting. This isn’t just tracking your cash flow; it’s about directing your money with purpose. There are different budgeting styles, like zero-based and percentage-based, but the bottom line is you need to divide your income into specific lots, whether it’s for bills, saving, or even fun spending. 

A good budget incorporates key elements like “blow money” for guilt-free treats and “sinking funds” for irregular expenses. Your budget also needs to account for things that regularly pop up, like annual insurance bills. To make them easier on your wallet, spread them across several months. However you plan on budgeting, what’s important is that you keep tabs on what you plan to spend, what you actually spend, and what’s left. And remember– a budget is flexible. It’s a tool to help you make smart choices, not a straitjacket to prevent you from enjoying your money. 

So how quickly can you reach FI? It depends on several factors: your income, expenses, liabilities, assets, mindset, and habits. The goal is to use your income wisely – covering essentials, reducing debts, building assets, and still enjoying life. You can go as extreme as you like, living a frugal Guac-level-1-or-2 lifestyle to hit your FI number earlier. Or you can live your desired Guac-level-3-or-higher lifestyle now and make peace with not reaching your FI number until later in life. Your financial plan will match your life and financial goals, and how much you’re willing to sacrifice at the moment. 

With your FI plan in hand, your next and final step is to execute it. But – surprise, surprise – it’s not just about stashing away your cash. You’ve got to play a smart game here, focusing on four key areas: spend less, earn more, slash your debts, and pump up those assets. 

First off, let’s talk spending. You need to start scrutinizing every dollar that leaves your wallet. Question everything: Does this expense give you joy? Can you get it cheaper? Is it steering you towards your goals? Yes, you might have to cut back on some luxuries, but it’s not forever. Find the sweet spot where you’re saving money without feeling like you’re living in a financial straitjacket. Remember, some spending is an investment in your happiness, like that gym membership. It’s all about priorities. And when you do need to cut back, look at your big mandatory expenses, too. You can seek savings in significant areas like housing, groceries, and bills by downsizing, using coupons, and negotiating discounts. 

Now, let’s shift gears to income. If you think your paycheck is the only way to earn, think again. There’s a whole world of possibilities to bump up your income. Start with the obvious: negotiate a raise, take on overtime or extra work, or snag a higher-paying job at a new company. But don’t stop there. Think side hustles, freelancing, or turning your hobby into a cash cow. Remember, more money means more freedom to chase your FI dreams.

So, on to your debt. There are two main ways to break free from it: the snowball method, which means wiping out the small debts first for quick wins; and the avalanche method, which involves targeting the high-interest debts first. Pick what keeps you fired up and what you find the most applicable to your situation. But more than just paying off your liabilities, you need to understand why you got into debt in the first place. Was it impulse buying, or a YOLO attitude? Figure it out to avoid a debt relapse. And yes, not all debt is evil – think mortgages and student loans. You can use debt to your advantage, too.

Now, let’s talk about building your assets. This is where the magic happens. To fast-track your journey to financial independence, focus on building assets through saving and investing. Start by creating an emergency fund, beginning with as little as $1000, and build it up to cover three to six months of expenses. Then, save for life’s significant events like home purchases, family expansion, or travel. At the same time, delve into investing. Index funds are your go-to. They’re straightforward and low-cost, offering a slice of the market without the hassle of picking stocks. Also, leverage retirement accounts like 401ks for their tax benefits. The deal here is consistency. Even tiny contributions add up, thanks to compounding. Time’s your ally in this game. The sooner you start, the better. Doesn’t matter how much – just get the ball rolling.

Where you are in your FI journey dictates how you split your income among expenses, debts, and investments. 

If you’re just starting in the Explorer stage, focus on survival – cover your basics, and if there’s a little left, maybe keep that 401(k) ticking over. 

As a Cadet, get aggressive with your debt, but don’t forget to save and invest a bit. Put 20 percent into savings, 20 percent into investments, and ten percent into discretionary spending. Invest at least up to your 401(k) company match. 

In the Aviator stage, with no more consumer debt, ramp up your savings and investments – and sure, treat yourself a little. Allocate 30 percent into savings, 50 percent into investing, and 20 percent into discretionary spending.

Commanders, you might want to balance investing with enjoying your earnings. Split your gap 50/50 between investing and discretionary spending.

And Captains, you’ve made it – splurge 100 percent of your disposable income if you want. You’ve earned it.

[bkdebtrelief]

  Debt consolidation and debt settlement are both strategies aimed at managing and reducing debt, but they involve different approaches and have distinct implications for your financial situation.

Here's a brief overview of each:

1) Debt Consolidation:

Definition: Debt consolidation involves combining multiple debts into a single, larger loan. This new loan typically has a lower interest rate or more favorable terms than the individual debts it replaces.

How it works: You take out a consolidation loan to pay off your existing debts, leaving you with only one monthly payment to manage. This can simplify your finances and potentially reduce your overall interest payments.

Pros:

a) Simplifies payments. b) May lower interest rates. c) May result in a single, more manageable monthly payment.

Cons:

a) Doesn't reduce the total amount owed.

b) Requires a good credit score to secure a favorable loan.

2) Debt Settlement:

Definition: Debt settlement involves negotiating with creditors to settle debts for less than the total amount owed. This typically involves making a lump-sum payment or agreeing to a structured repayment plan at a reduced amount.

How it works: You or a debt settlement company negotiates with creditors to reach an agreement on a reduced payoff amount. Once an agreement is reached, you make the agreed-upon payment, and the debt is considered settled.

Pros:

a) Can result in a significant reduction in the total debt amount.

b) Offers the possibility of becoming debt-free more quickly.

Cons:

a) May negatively impact your credit score. b) Not all creditors may agree to settle. c) Debt settlement companies may charge fees and may not always deliver promised results.

Key Differences:

Impact on Total Debt: Debt consolidation does not reduce the total amount of debt; it simply combines it into a single loan. Debt settlement, on the other hand, aims to settle the debt for less than what is owed, potentially resulting in a lower overall amount.

Credit Implications: Both strategies can have an impact on your credit score. Debt consolidation may have a less negative impact, as it involves paying off existing debts with a new loan. Debt settlement, however, often involves missed payments and negotiating reduced amounts, which can harm your credit.

Approach: Debt consolidation is a more structured and traditional approach, involving a new loan to pay off existing debts. Debt settlement is a negotiation process that seeks to reach agreements with creditors to lower the amount owed.

It's crucial to carefully consider the advantages and disadvantages of each approach and, if needed, seek advice from financial professionals before deciding on a debt management strategy.                

[siyasharma32]

Maximizing balance transfer offers can be a savvy financial strategy for individuals looking to consolidate their debts or reduce interest payments. Balance transfers allow you to move existing credit card debt to a new card with a lower or zero percent introductory APR for a specific period. This guide provides tips and strategies to help you make the most of balance transfer offers, save money, and effectively manage your debt. It's important to note that while balance transfers can be beneficial, they require careful planning and consideration of the terms and conditions of the offers.

Main points

Research and Compare Offers: Start by researching and comparing different balance transfer offers from various credit card issuers. Look for cards with long introductory periods, low or zero percent APR, and reasonable balance transfer fees. Pay attention to any limitations or restrictions, such as transfer limits or fees, to make an informed decision.

Evaluate Transfer Fees: Balance transfer offers often come with a fee, typically a percentage of the amount transferred. Consider the transfer fee alongside the potential interest savings to ensure that the overall benefit outweighs the cost. Some credit cards may offer promotional periods with reduced or waived transfer fees, so keep an eye out for such deals.

Calculate Potential Savings: Determine the potential savings you can achieve through a balance transfer. Compare the interest rates of your current debts with the promotional rate offered by the balance transfer card. Use online calculators or spreadsheets to estimate how much you could save over the introductory period and beyond.

Create a Repayment Plan: Balance transfers are most effective when coupled with a well-planned repayment strategy. Take advantage of the low or zero percent APR period to aggressively pay down your debt. Set a budget, allocate extra funds towards debt repayment, and make consistent payments to reduce your outstanding balance.

Avoid New Purchases: To maximize the benefits of a balance transfer, refrain from making new purchases on the card. Focus solely on paying off the transferred balance during the promotional period. New purchases may accrue interest immediately and hinder your debt payoff progress.

Monitor and Track Deadlines: Stay vigilant about the terms and conditions of the balance transfer offer, including the introductory period duration and any conditions for qualifying. Set reminders for important dates, such as the expiration of the promotional APR or when the regular interest rate will apply. Pay close attention to ensure you don't miss any payments or incur penalty fees.

Protect Your Credit Score: Applying for a balance transfer card may result in a hard inquiry on your credit report, which could have a temporary impact on your credit score. However, maintaining timely payments and reducing your debt can positively impact your credit utilization ratio and overall creditworthiness.

Consider Multiple Transfers: If your current debt exceeds the credit limit of a single balance transfer card, consider spreading the debt across multiple cards. This strategy can help you take advantage of multiple promotional periods and minimize interest payments. Just ensure you can manage multiple accounts responsibly and keep track of payment due dates.

Evaluate Long-Term Interest Rates: While balance transfers offer short-term relief from high interest rates, it's crucial to consider the regular APR that will apply after the introductory period ends. If the regular rate is significantly higher than your current rates, it might be worth considering alternative debt repayment strategies or negotiating with your existing creditors.

Seek Professional Advice: If you're uncertain about balance transfers or need assistance in creating a debt repayment plan, consider seeking advice from a financial advisor or credit counseling agency. They can provide personalized guidance based on your specific financial situation and help you make informed decisions.

Conclusion

In conclusion, maximizing balance transfer offers requires careful research, planning, and disciplined execution. By comparing offers, calculating potential savings, creating a repayment plan, and staying organized, you can make the most of balance transfer opportunities. Remember to avoid new purchases, protect your credit score, and seek professional advice when needed. With these strategies in place, you can effectively consolidate debt, reduce interest payments, and work towards achieving financial freedom.

[timelybillsap]

Achieving Financial Freedom With The Revolutionary Debt Payoff App

A debt payoff app is a great tool for anyone who wants to get their finances in order and get out of debt. This app allows the user to track their debt, create a budget and make a plan to pay it off. It also offers helpful tips and advice on how to manage and reduce debt. The app can be used to pay off any type of debt, such as credit cards, student loans, mortgages and more. With the ability to customize and personalize the debt payoff plan, this app is a great way to take control of your finances and get out of debt.

[credit4hire]

💡 Uncover hidden gems in credit repair! 💎

Request a credit limit increase without hard inquiries 📈

Join forces as an authorized user on a responsible credit card holder's account 🤝

Tackle high-interest debt first for a strategic payoff plan 🎯

Follow us and reblog for more exclusive tips and expert advice on credit repair!

[zenruption]

Beginners’ Advice To Ace Commercial Real Estate Investment

The commercial real estate segment in the US is booming after the pandemic lull. Not surprisingly, investors who switched to residential investment are back in the commercial space. Moreover, new ones are more than keen to unlock the growth opportunities in the lucrative niche. The best thing about picking this segment is that you get additional cash flow, bigger payoffs, and economies of scale in the long run. But it also has a fair share of challenges, from finding the relevant investment options to managing your properties and maintaining their rental potential. However, a little guidance is enough to make the most of the opportunities in the market. Here are a few valuable beginners tips to ace commercial real estate investment.

Learn the lingo

Although commercial properties are a part of real estate markets, they have a different language. Beginners must learn the lingo to establish comfort in the niche and grow from there. The common key metrics you must understand include net operating income (NOI), cap rate, debt service coverage, operating expense ratio, and cash-on-cash return. Being ahead of these metrics enables you to choose wisely and unlock growth in the long run.

Know what the insiders know

Newbies in the commercial real estate domain can make better decisions by knowing what the insiders know. Learn to think like a professional and pay attention to detail. For example, income on these properties depends on their usable square footage, so consider it before sealing your deals. Likewise, you must know that commercial property leases are typically longer than residential leases. Knowing these insiders’ secrets is a clear advantage.

Recognize great deals

Recognizing great deals can set you apart as a commercial real estate investor, so you must master the skill sooner than later. The best way to find good ones is to look for them in the right places. For example, finding commercial space in Chicago can be easier by collaborating with local experts because the market is highly competitive. You must assess your potential investments with a sharp eye to check damages and uncover risks. Also, ensure it offers an easy exit strategy because the ideal investments are the ones you can walk away from.

Create a plan of action

Another tip to ace commercial real estate investment as a newbie is to create a plan of action from the outset. Start by understanding your financial capacity and borrowing prospects because you need to be strong on both fronts to grab the best opportunities. Also, forecast short-term income and long-term profits from each deal before diving in. Also, plan for property management because it is essential to protect your investment and maximize the income it provides. 

Discover the best neighborhoods

The best deals in commercial real estate are not just about the size and features of the property. Start by studying the neighborhood to learn the real potential of your investment. Check factors like rental demand, supply, and pricing dynamics to understand whether the locality is worth investing in. A good resale value is another thing to consider when picking properties in a neighborhood.

Commercial real estate investment may appear tricky to beginners, but you can ace it with a little knowledge and awareness. Follow these tips to choose wisely and make the most of the growth opportunities.

[bitchesgetriches]

The Real Story of How I Paid Off My Mortgage in 4 Years

NEW POST! The Real Story of How I Paid Off My Mortgage in 4 Years

As of fifteen minutes (and one very cold beer) ago, I officially own the beautiful house I’m sitting in right now.

My partner and I have been refreshing our mortgage account every few hours today, waiting for the final payment to process. (Weirdly, you have to WIRE the final payment. Seriously? After this years-long relationship of sending personal check after personal check, our mortgage…

[arrestyourdebt]

Why Wealth And Income Is Not The Same Thing

Why Wealth And Income Is Not The Same Thing

How much money do you make?  Many people place their value on how much money they earn each year.  What if I told you that the majority of high income earners, over $200K a year, are not wealthy?

(more…)

[wholewheatgrump]

This is a post about pet death, so proceed with caution.

It seems like the popular narrative lately on social media surrounding sick and aging pets is that you absolutely must prolong their lives for as long as possible, even if it’s actively harmful/against the advice of a vets and other animal experts (and especially if you’re willing to go into debt to do so, because anything less won’t get you that social media clout). It’s a narrative I absolutely loathe.

Pet keeping should be about providing the most comfortable and enriching life possible, and part of that, unfortunately, is providing as comfortable a death for them as we’re able to give. When you’re only focused on keeping them alive and delaying the inevitable for as long as possible, you’re likely to overlook (or in some cases, actively ignore) the impact that has on their quality of life, so it’s important to find a balance between longevity and comfort. Weighing the payoff of any treatments against the side effects is probably the main thing to consider, but you should also be considering things like pain management, making their space more accessible, altering enrichment to meet their changing needs, giving them their favorite foods and snacks (versus what you’d prefer they eat), assisting them more with grooming, etc.

It’s hard to watch a pet decline, and I think part of being a good pet owner is always having some level of guilt about whether or not you’re doing enough, but I would honestly rather have guilt about providing a comfortable death a little too early than extending their suffering when I could’ve done something about it.