Two times in our lives we have had reality smack us in the face when it came to realizing how much money a month we were spending on food. The first time was when we first discovered Dave Ramsey years and years ago, and the second time was last year when we discovered the FIRE Community (Financial Independence/Retire Early). I thought I had it all together when it came to our food budget. I knew all the rules. I used to lead Financial Peace classes for Goodness Sake! I was careful about our spending. When we made the commitment last year to begin saving for retirement I didn’t know where we were going to get the extra money to do so. So, I began cutting expenses wherever I could. Imagine my shock when I took a good hard look at our banks statements and realized we were actually spending more than double what we had budgeted every month for food. Whoopsie-doodle…..life had certainly crept back up on us and we didn’t even realize it.
Payday lenders and title loan companies are Sharks.
You must train your brain that every time you drive by one of these lenders or see one of their commercials to hear the Jaws theme. They are predators and they prey on people who are afraid they can’t make it to next pay day.
In an emergency room, patients are treated based upon the urgency of their need for care.
If you are reading this and you are living pay-check to paycheck, and/or you have past due bills, or are just trying to stay on top of all the debt you have accumulated, you have a debt emergency.
The very first step for anyone in your circumstances will be to “triage your debt”. What do I mean by “triaging” your debt? It is this – Before you can dive in and begin working a system of overall debt repayment and savings, you have to first start with vital matters.