Don't overspend this weekend

I know Black Friday is upon us but I encourage you stick within your budget!! Establish a set amount and take that in cash and purchase what you need not every thing your eye sees. There are so many unfortunate people in the world that would kill for the money you are wasting on gifts for people who don't even like you. Or on people you are trying to impress or even the children who have to much as it is.

What will you do for the community? Be smart and if you truly don't have a heart for others save half of what you were going to spend.

MORE TO COME.....Happy Holidays from an educated yet Frugal shopper!!

60/40 RULEZ

Hello Blog Family,

Today let's venture down the road of the 60/40 rule. One of the first steps is to PLAN. Spending 60% of your income on Necessities:Religious/charitable donations, Food & clothing, Mortgage, Insurance (life, auto, mortgage & burial, utilities! The 40% should be allocated into a savings plan: 401k or 403b, Roth IRA, Pension plan or something!!

Excel or Quicken or some easy pieces of software to use in compiling & maintaining a budget. Carry around a small notebook that will allow you to jot down every time you spend money. I also suggest using your Banks ATM opposed to competitors unless they rebate you like Compass Bank.

Another insightful piece of information is that you should take out some FUN MONEY$$$ that will allow you to have a little entertainment. Keep in mind this falls under the 40%. Depending upon your priorities and your objective in life will help dictate how you spend the 40%.

I strongly encourage home ownership because it is the first step to wealth. Buy what you can afford & don't become overindulgent. If your credit is an issue work on it the only way it will get better is if you ACTIVELY do something. Pay your bills on time, limit credit card purchases to no more than 30% of your cards balance, pay cash if you can, and SAVE & pay off BILLS ASAP!!

If you are interested in additional information send me an email & I will forward you a wealth of information.

Let me leave you with a little Quote Power:

The best years of your life are the ones in which you decide your problems are your own. You don't blame them on your mother, the ecology, or the President. You realize that you control your own destiny.
Albert Ellis

Facing Foreclosure

Being a single parent is one of the hardest and most under appreciated jobs on the earth. Whether you had two incomes at one point or you always had to survive off of one. Nonetheless it's a challenging feat.

With Forclosures being at the highest level in the history of mortgatge lending we must prepare and plan in order to maintain a residence. Sure some of us were lured into the subprimelending arena and were forced to refinance when the arm was due to be renewed. While others stuck it out and are now faced with the possibility of foreclosure and the inability to qualify for a loan.

It's a total catch 22. But don't give up, where there is a will there is a way!! many lending agencies would rather you struggle with the loan opposed to defaulting and forcing them to have to try to sell the property in a no longer buyers or sellers market at this point. So first contact your lender and see if they can offer some type of foreberance, alternative refinance, or some type of program that will allow you to maintain the residence. In some cases which they try not to publicize, if you send at least half in they will not proceed to forclosure. Something is better than nothing right!

BE CAREFUL: So many SCAMS are out there trying to pretend they are offering assistance if you will sign over the deed to them and allow the investor to keep you from losing your home. It's a Bait & Switch, they now have you renting your own property that they now hold the deed to. Creative CON!!

First Contact your lender.
If they have no option depending on your type of mortgage HUD may be able to help you.
Don't ignore the phone calls or the mail that only tells them YOU DON"T CARE!!

Let's try to stay within our budget which will be our next topic of study and worksheets will be provided.