Billion Dollar Budget

Budgeting for success

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Best Rewards Cards To Get Out of Debt 2019

When you are in debt, credit cards are often villainized as the ultimate evil. The first advice almost always given is to destroy all your credit cards! Fill a bag with water, put your cards in it and throw it in the freezer! I particularly like that one, it seems the most useless of all the ones I’ve heard. Look, when you’re in debt credit cards are not the source of all your troubles. They may be greatly contributing to it, due to their high interest rates, but they are

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Debt, The M.D.

The Trouble with Borrowing from Friends

If you have ever borrowed a large sum of money from a friend you probably already know the kind of trouble you can get into. If you haven’t, let me break it down for you so that you do. It generally starts off with you venting to your friend about your situation. Then they, being your good friend, try to offer help. You, needing the help, take it. Maybe you don’t take it at first, maybe your sense of pride causes you to think on it for a bit, but

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The M.D.

How I went from very poor to very good credit in 45 days

Not to long ago, I went from very poor to very good credit in 45 days. My wife and I were under crushing financial debt. I mean we still are, but the payments at the time far exceeded what we were actually able to handle. I had a pay cut from work a few months earlier, which we had not recovered from. We were behind payments, our credit scores were both shot and my wife was on maternity leave. We were definitely not in a good place. To handle payments

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what type of debt do you have?
The M.D.

What type of debt do you have?

  In my endeavors to pay down my debt, I joined a financial Facebook group. I had asked a question about investing. The reply I got back, and rightly so, asked, My first question would be what type of debt do you have?? Doesn’t really matter how you invest if you are getting hit with 15-23% Credit Card APR. This question is correct because indeed if you have a lot of debt on credit cards (which I do) you absolutely want to get them out of the way so you

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ideal account setup
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The Ideal Account Setup

  What is the ideal account setup? How does one structure their accounts for success? For the former the answer is simple, as many as you need. For the latter, that’s a bit more subjective. Here I will explain how I set things up and why and you can make your own judgement call from there. Regarding number of accounts, most people have two, a checking and a savings account. In terms of what is needed for receiving, spending and saving money this setup does serve that purpose, but it could

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Knowledgebase

Difference Between a Hard and Soft Credit Checks

  Were you trying to do something when someone said to you, “We’ll need to run a hard credit check for this.”? Did you wonder what exactly that meant and why it matters?  What is the difference between hard and soft credit checks? Here I’ll explain what a hard credit check (also known as a hard credit inquiry) is, what a soft credit check is, and answer the all important question of why it matters. In fact, I’ll answer that all important question right now. It matters because hard credit

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Debt

The Emotional Cost of Debt

  As if being in debt wasn’t bad enough! There is an emotional cost of debt that many don’t see but almost everyone in debt starts to feel. It is the emotional toll it can take on your mental health. It’s something you may not notice at first, in fact at first you may not have it at all. But just as an investment builds over time, so debt begins to charge your emotional state as well. When this change becomes noticeable is, of course, different per person and situation, but

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10 Step Guide to Creating a Budget

  Creating a budget may sound like a daunting task, but there are a lot of ways to create a budget and a lot of apps and websites to help you do so. Links to them are available below. What you use to manage your budget is entirely personal preference. The important part is selecting a tool and method that works for you. I have personally used a number of apps from You Need a Budget to the Quicken desktop software. Are you a fan of Dave Ramsey? Even he

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5 easy step to get out of debt
Debt

Get Out Of Debt And Stay That Way In 5 Easy Steps

  Get Out Of Debt And Stay That Way In 5 Easy Steps Have a lot of debt? Spending more than you make? Nothing can be more terrifying than the realization that the bills sitting on the table far exceed what you have in your account. There are many reasons you may find yourself in this situation that have nothing to do with poor spending habits. Regardless of how you find yourself in such situations, there is a way out. So, if you want to get out of debt, or

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