I recently taught a live budgeting masterclass, and one of the participants asked a really good question during our Q&A time:
Should I have a credit card?
Much of the conversation around credit cards can feel overwhelming and even a little controversial. Some people love them and have several with various perks/discounts and others believe they’re not at all helpful to have and it can be tough to figure out what’s right for you.
If you’re trying to do just that, I recommend asking yourself this question:
Would having a credit card tempt me to buy things I technically don’t have the money to pay for right now?
If the answer is yes, stick with your debit card and/or cash and don’t get a credit card. Going into credit card debt is never wise—and paying off the debt is pricey, because you accrue interest (at a very high rate) on whatever you don’t pay off in full each month and this interest adds up quickly.
If the answer is no, go...
Have you ever heard the word “budget” and thought something like this?
Budget = something I know I should have, but I don’t know how to create it and/or make it work for me in this season of my life… I guess I’ll figure it out another day.
If so, you’re not alone (pinky promise!).
Today we’re going to start a conversation about budgets – what they are, why you need one, and why (if you need one), so many people don’t have them.
We’ll wrap up with four simple things you can do to start creating a budget that works for you (you know I’m all about the action steps).
(Oh – one quick thing: if you want a full run down of exactly how to create a budget from scratch, you might find my budgeting masterclass helpful. It includes a powerful excel spreadsheet with built in formulas to make everything super easy for you.)
Ok, let’s lay the foundation and jump right in.
What is a budget?
I’m not sure if I can imagine anything more “adult” than filing taxes.
And filing them for the very first time?
That can be straight up intimidating.
I still remember sitting down at my desk/table/primary piece of furniture in my very first apartment and praying that I’d be able to figure out how the whole filing taxes thing worked as I logged into TurboTax.
I had no idea what I was doing.
(Spoiler alert: I figured it out!)
If you’re feeling like that today, keep reading – today’s post is all about how to set yourself up for tax filing success so that you can confidently get them filed ahead of schedule.
Step One: Schedule “do taxes” on your calendar
Don’t try to do your taxes late at night the day before they’re due. It will take longer than you think, you’ll be tired, and you won’t be able to find that one document you absolutely need.
Planning ahead is absolutely worth it – you never...
Stop the scroll.
See that new pair of Madewell jeans? The extra high waist, slightly distressed denim, curve hugging perfection for just $129?
You know you want them – they’re exactly what you’ve been looking for.
Now, how are you going to pay for them? A debit card? Credit card? Cash?
If you don’t know the answer to the above question – or just want to know the difference between debit cards and credit cards and when/if you should use them – then today’s post is just for you.
Debit Cards and Credit Cards – What They Are
Debit Cards: Debit cards are linked directly to your bank account. They are given to you by your bank and you can only spend the amount of money you have in your bank account. If you go over that limit, your debit card will be denied.
To use a debit card at a store, you simply swipe/insert the card into the machine during payment. You will likely be asked to enter the 4 digit pin you chose when setting up the card.
I'd love to pop in your inbox from time to time with genuine notes and helpful tips--and maybe a few gifs--to encourage you as you figure out all that non-sexy but essential life stuff.
Sound good? Just click the button below and then go check your inbox - I'll pop in with a hello ASAP. I can't wait to get to know you!