We have moved. Check us out at thefinancialduckie.wordpress.com!!!

We Are Moving

No not us silly! The Blog! We are moving to Wordpress which is a different blogging web hosting site. I am already in the process of posting over there and moving my other posts. The web address will be similar to the one I already have. I am pretty excited. By the end of March she (my blog) shall be up and ready. I will keep you updated! Sorry a NEW post is soon to come.

Debt Update: The beginning of the end

January 20th  is the beginning of the end of my debt. Though I have been working toward paying off debt for the last 4 months, but today it gets intense. No playing around. I will be dedicated  and honest! I will track my successes and failures here.

January 20th 2013

Current Debt Status: 

BOA CC Balance: $0.00 donkey kicked this >> 1/15/2013

NavyFed CC Balance: $1990.96  (Goal have this payed by Feb 20th)

Nelnet Balance: $4380.00 

Federal Student Loan Balance: $20,966.00

Car Loan: $21,935.00

Goal - Contribute $2000 to debt. That is $400 more dollars than the contribution from last month. I plan to squeeze money from all corners and start a new job. Substitute teaching! This is contingent upon my Mother in Law's arrival, so cross your fingers that things work in my favor! 

Next check in February 20th!

Ways we Save

There are lots of stuff that we do around here to save and make saving fun. Each and every one of you could come up with something entertaining to make saving cool. I've heard of some families using a cursing jar and that could extend into other possibilities. Check out some ways we save.

1. We do a BUDGET! 

Say Whaa! Absolutely! In my upcoming series on budgeting I discuss tips on the importance of budgeting, how to make it work for you, and ways to stay motivated. A budget at the beginning of each month lets us plan out where our money is going. I can see each dime and how its being spent. I believe this is why many people are afraid to do a budget. If you don't want to see how much your spending, you do not want to save your money, and you are pleased to stay in debt - please, please don't do a budget.

2. We are Coin Collectors 

 Not of fancy quarters or silver dollars, although I would gladly pick those up, but of the good ole pennies and sometimes even nickel, dimes, and quarters that others are too lazy to pick up when they drop them. I'll be honest with you this was never my thing. My husband was always that guy to stop traffic in the parking lot to grab a penny. At the time I was embarrassed, but now a days my two year old and myself will be found doing the same thing. I always tell my husband coins will be the death of us because we will stop an on coming semi to pick up one. Well then these coins are transported to our "Debt Sucks" jar. Not only are your lost coins going in this jar but anytime we use cash and get back change it goes into the jar. I do from time to time add dollars out of my own amusement. If I eat out when I am not supposed to I add that same amount to the debt jar. At the end of each month we take the coins to our bank's coin machine and add this to our debt. Now you will not save  hundreds of dollars collecting coins but it can easily average about $20 a month and $240 a year.

3. Couponing 

Okay so I am no Extreme Couponer, although I tried this once, but I would like to think of myself as a knowledgeable couponer and if I needed one item in bulk I could make it happen. People tend to think of couponing as a chore. I hear lots of times, I don't have time to cut coupons and find deals, but on the other hand I don't have time to be poor. One thing I can't stand is purchasing an item for full price and then next week find it on sale and a coupon in the newspaper. I average about 30 - 40 percent saved each shopping trip. That is for all shopping trips (I don't pay full price on clothing either). There will be a post very soon on couponing.

4. Cut back on eating out

This is probably the number one way to keep some of the money you make. It is also the easiest way to lose the money you make - if you continue eating out. Remember when you eat out your paying for the convenience, experience, branding, and the those cute ketchup packets (I love the Chic Fil A ketchup packets). I can have an experience at home. There was a time when eating out was my life and it is still is a hard lifestyle for me to let go - but it feels good to my pockets. I eat more left overs - pack lunches- and put half the amount of hamburger into my meals. Try cutting back how often your eating out. You don't have to go cold turkey on your Starbucks, just cut back.

5. We moved 

We downsized in September to just enough space for our family. Its cool having all this space in your home and then you realize your not using it and you have to pay for it and keep it clean. We saved $250 dollars a month by moving. That is $3000 a year. If you are in a position where you can't move but you have an extra room look into getting a room mate. Please be careful with that option. You want to make sure you choose someone financially responsible, respectable of your property, and preferably someone you know. I know the last suggestion is not always a guarantee, but you really need to be careful when moving strangers into your home.

Its fair to say that at this point every penny I save is contributed to paying off debt. What are you saving for?

13 goals of 2013

1. Pay off $25,000+ in debt (fOLLOW ME AS I PUT DEBT TO SHAME)

2. Start a Blog  :-)

3. Do 3 items on my Bucket list

4. Save $600 toward my Sorority's Centennial Convention Trip

5. Help 1 family or individual work toward debt reduction and wealth building

6. Potty Train my two year old princess

7. Attend my 10 year high school reunion.

8. Find new ways to increase income.

9. Get Preggers! Yes I plan my pregnancies!

10. Grow my natural hair 8 inches

11. Complete 8 Bible plans on Youversion

12. Cash Flow Family vacation to Seaworld

13. Complete the Financial fast and other Money Challenges

How you are going to become DEBT FREE!

Recently, I've become super passionate about wanting to help someone or a family overcome financial burdens. Within the last five months, I have learned so much about financial behaviors, especially from my husband and myself.  I now can see some light at the end of the tunnel and want you to see that same light. Though I am motivated enough to go through this alone, I would love to cross the finish line with other friends and family.

Like with anything else in this world, the road to debt freedom has steps. I confess - I am a rules person. I read all the steps first and follow them in the exact order. I do not do two steps at once, or skip around on steps. I do one before the other- point blank. For your success, I suggest that you do the same. Now I will mention that although I don't skip steps, I did try to modify them. For instance, I'm currently in step two ( which you will learn about soon) and I wanted to pay off a student loan first instead of a credit card. Long story short this did not work with the steps. I will share with you later why not.

Some of you will read this start the steps and become intense - Gazelle Intense. The reality is the majority of you will not get past some of the first steps which are changing your mindset and doing a budget. I am hoping that I can begin to be helpful to you.

So now how will you get debt free? We are going start with a Budget series January 28th. Most of your monies have been spent and allocated for the rest of the month so why not start fresh. 

In the mean time, set two financial goals for yourself for the year. Include how steps to how you will get there. In a previous post I talked about how to set goals and the importance. I know you can do this - because I am doing it. Money problems are about to be a thing of the past. Happy Savings!

52 Week Money Challenge

Has anyone seen this photo below! It has currently been floating around the Internet and a friend of mine shared it with me. It is one of my favorite things ever! A challenge! Not just any challenge, but a money challenge! Even though we are mid-way through January it would not be hard to play catch up. Feel free to change this to something you are more comfortable with. If you are really on the ball and want to up the ante, double or triple the amount you save each week. If you want to know how much your end of the year contribution will be, multiply the final number by how much you multiplied you contribution. So if you decide that you are going to start with $3 week one, $6 week two, $9 week three, and so on, multiply the last number on the chart by 3 to figure out how much you will have saved. 

*Warning: The last 3-4 months of the year could be difficult to keep up with. So make sure you plan your savings regimen out accordingly.

There will be several challenges throughout the year! Some shorter but more intense. Some very easy! This is to prepare us (ME) to become financial duckies! If you are interested in participating in this particular challenge share your efforts below. I will post quarterly updates for motivation!  Happy Saving!