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When I started my debt-free journey in August 2013, I had $57,847 of student loans and credit card debt. I wasn’t always serious…

The post What I Learned About Money in 2017 appeared first on Broke Girl Rehab.

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When I first started living on my own in Southern California, I. was. broke. I didn’t have a car, I was skinny because I didn’t have a lot of money for food, and – unlike a lot of my friends – I didn’t have the privilege of just hitting up my parents for cash. They were also broke, so they needed money to survive too. So, to lower my expenses, I lived with roommates. And, for most of my adult life, I have shared a room with at least one other person. And, at a couple points in my life, I even shared a 2-bedroom apartment with 4 other people. (Don’t ask me how.) Now, if you’re like me and you live in an area with a high cost of living, chances are, you’re going to have to live with a roommate. But, believe it or not, living with a roommate can be an awesome experience. It just requires a little extra work upfront to make sure you’re all on the same page. So, with this in mind, here are my four tips for living with roommates… Tip # 1: Make sure that you and your roommates are compatible. I […]

The post 4 Tips for a Stress-Free Roommate Experience appeared first on Broke Girl Rehab.

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Last week, we discussed five different reasons why people should consider marriage. And, although there are many benefits to getting married, including: More financial stability, Lower cost of living, Faster achievement of financial goals, etc. I definitely don’t want to put out this idea that marriage is a great idea for everyone. In fact, if your marriage does fail, the results can be pretty disastrous! According to economist, Jay Zagorsky, divorcees can expect an average wealth drop of 77 percent. Now, you may be asking, “Well, how do I ensure that I have a successful marriage?”   And, that’s a pretty big topic to cover – But, one large part of ensuring that you have a successful marriage is making sure you have a great partner to begin with. So, with this in mind, let’s go through six different qualities to look for in a marriage partner. Quality No. 1: A Comparable Income Now, I’m going to go ahead and say that these qualities are in no particular order. But, I have a feeling that this quality in particular will get me in the most trouble, so let’s go ahead and get this one out of the way. Now, am I saying that […]

The post 6 Qualities to Look for in A Marriage Partner appeared first on Broke Girl Rehab.

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So, today I wanted to talk to you all about something a little bit different and that is the subject of marriage. Or, specifically five reasons to get married that have absolutely nothing to do with love. Now, just as a quick disclaimer here: I’m definitely not advocating that you shouldn’t love your husband or your wife. It is very important that you love and care for your partner. But, love should not be your sole basis for getting married. Like other legally-binding partnerships, marriage is a contract. So, instead of looking at marriage as a happily ever after fairy-tale, it is much more beneficial (and practical) to view marriage as a partnership between two committed individuals. Second disclaimer: my reasons for marriage rely on the assumption that both partners are committing equally to this marriage. So, if you are in an unbalanced relationship where, for example, you are bringing in 100% of the income, the following benefits may not necessarily work in your favor. With this in mind, let’s go through the five different reasons why I believe people should consider marriage. Reason No. 1: Married couples are typically more financially stable than single homes. And, this reason is […]

The post 5 Reasons to Get Married (That Have Nothing to Do With Love) appeared first on Broke Girl Rehab.

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I recently got back from FinCon, which is a conference for nerds who like to blog/vlog/podcast/etc. about money. There, I shared my story of how my father’s death inspired me to take responsibility for my life, including my finances. I hope you enjoy it:

The post How My Father’s Death Inspired Me to Take Control of My Finances appeared first on Broke Girl Rehab.

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If you’re worried about reaching your money goals or can’t ever seem to stay on top of your budget, I’m going to share with you a very simple trick that will help you achieve your money goals. Are you ready for it? ‘Cause it’s coming! Here it is: My simple trick for achieving your money goal is: To always check-in with your finances. That’s it! If you want to achieve your money goals, always be constantly checking in with your finances. Why? We humans are really bad at accurately estimating how much money we have. A study by the New York Fed showed that – on average – Americans owed 25 percent more in student loans than they estimated and another 40 percent more on their credit cards. Another study by JP Morgan Chase showed that 60 percent of American households miscalculated their spending by 30 percent. Because we’re constantly underestimating how much money we’re spending, we are already operating at a disadvantage. It’s really hard to put money towards savings or paying off your debt, when all that money has spent at Starbucks or Chipotle. If you’re looking for an easy way to track your money, I use EveryDollar, […]

The post A Simple Trick For Reaching Your Money Goals appeared first on Broke Girl Rehab.

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One of my biggest struggles in getting out of debt is my horrible habit of overspending. It’s terrible, I hate that I do it, but honestly it’s like binge eating – sometimes I just cannot stop. So, when I heard that my YouTube friends Maria from Modern Budget Curl and Toni from Love Daring Greatly were doing a 30-Day No Spendtember challenge, I wanted in. So, right now I’ll share with you my results for the No Spendtember Challenge and three lessons I learned from the experience. First, My Results: The goal of No Spendtember is to only spend money on the essentials, and typically that means: gas, groceries and bills. Now, I wish that I could tell you that during all of No Spendtember I only spent money on those 3 things. But, unfortunately – I can’t! Although I did very well during the first part of No Spendtember, somewhere between Week 1 and Week 2, I caught a terrible cold and that’s where things sort of fell apart. Now, I wouldn’t say everything went completely to shit, but I was less strict toward the end than I was at the beginning of the month. Pulling out this bad boy […]

The post 3 Lessons I Learned From My First No-Spend Challenge appeared first on Broke Girl Rehab.

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Hello friends! Today, I’m sharing a few books I’m reading to help me stay motivated with paying off my debt. By the way – because I’m participating in #NoSpendtember – all of these books were received as gifts, purchased previously, or purchased via birthday gift cards (thanks, Mom & Deb!) Book #1: Dear Debt by Melanie Lockert Melanie is actually a well-known blogger in the personal finance community. (Check out her blog here!) Not only did I get this book as a gift from my future mother-in-law (Hi Deb!), but I’m excited to read it because it’s partially a memoir in addition to being a how-to book on paying off debt. For those of you who aren’t familiar with her, Melanie graduated with a Master’s degree with $81,000 of student loans, which took her a total of nine years to pay off. Both her blog and her book, Dear Debt, chronicle her personal finance journey and it has really helpful and relatable advice on how to stay the course. Book #2: Your Money Or Your Life by Vicki Robin Next, I want to read Your Money or Your Life because the author has a very interesting approach on how to […]

The post 3 Books I’m Reading to Stay Motivated appeared first on Broke Girl Rehab.

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When I first discovered the world of personal finance, paying off debt was actually fun. I couldn’t wait to get paid and put down three – sometimes four – times the minimum amount of payments. (Take that, you stupid interest!) I felt on top of the world and in control of my destiny. But after five or six months passed, I was over it. I had a new feeling now: broke. With over $28,000 left to go, it seemed as if it would take until the end of time before I finally got rid of my debt. As each student loan came due, I thought of everything I had to give up – music festivals, traveling, a new car, eating out. After a year of frustration, I even did the unthinkable: I got a new credit card. Whoa, there – a credit card? What happened? Two words, my friend: Debt fatigue. Sooner or later nearly every debtor will face debt fatigue. Debt fatigue describes the despair and loss of motivation one feels after paying down a large sum of debt for a lengthy period of time. If handled incorrectly, debt fatigued individuals can face frequent setbacks – like unwise financial […]

The post Debt Fatigue Sucks – Here’s How to Deal With It appeared first on Broke Girl Rehab.

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