All Articles – The Broke Budget

Why We Ditched Our Credit Cards

You may have read a previous article about how I locked mine and my husbands credit cards in a safe. We were trying to break the habit of overspending. However we wanted to keep the credit cards for emergencies and to build our credit score. Ultimately our goal was to stop living paycheck to paycheck by paying off debt. My view has slightly shifted since that last article and I will explain why. We are often told that we need a credit card to keep up with our credit score. What if that isn’t true? I was challenged on my […]

How To Solve Money Problems In Marriage

If you clicked on this article you most likely have money problems that are coming between you and your spouse. Today I will provide some practical steps to help you stop money fights, get on the same page, gain traction towards financial goals, and be content with where you are at now. According to market watch the number one predictor that you may end up divorced is if you are having arguments with your partner about money. 48% of couples living together argue about money. Of those who argue about money 41% of Gen-Xers and 29% of Boomers end up […]

Living A Frugal Lifestyle

Living a frugal lifestyle is really about your mindset. You have to decide to save money where normal people will waste their money. It isn’t always easy to do so you have to decide ahead of time that you want to live as a frugal person. Living a frugal lifestyle does not look the exact same for everyone. Some people are more frugal than others and that is okay because it is about finding the balance that is right for you. To save money you sometimes have to get creative. That may mean reusing something most people throw away. Such […]

How Much Emergency Fund Should You Have Saved?

If this pandemic has taught us anything it is that we need to have an emergency fund. Some people learned this the hard way which resulted in unpaid bills, eviction, and getting deeper into debt. However, we need to stop focusing on the negativity of what has happened. What matters most now is that we have had a wake up call and now it is time to look forward towards our financial future. We now know having an emergency fund is necessary. So then how much do we need to be saving for it? A three to six month emergency […]

Should You Pay Your Student Loans That Are In Forbearance?

This is a question I asked myself when student loans first went into forbearance. At first I wasn’t sure if I should continue paying the minimum payments, stop paying them all together, or attack them with a vengeance. I wanted to get the most value out of the situation but I wasn’t sure what option would provide me with the best result. After a few weeks of considering the advantages and disadvantages I came up with the plan that was right for me. Let’s talk about the advantages and disadvantages of all the options to get a better understanding of […]

It Is Tax Refund Time!

Around this time of year everyone gets excited for their tax refund. When you receive a refund it is because you were charged too much for your taxes. Thus it is like receiving your own money back at a later time. However, most people do not see it or treat it like that. People tend to treat it as a bonus that they can use to buy the extra things they have wanted all year long. That is the recipe that brings them right back where they started financially. Sure, maybe they have one or two things that brought them […]

Our Debt Free Journey Update From 2020

We first started to get intentional with paying off our debt in April of 2020. Now as we approach the end of February 2021, I want to look back over the past 11 months to recognize the accomplishments. We may not be finished but we have made great progress. When we started we were living paycheck to paycheck. Barely making it to the next time we got paid. We were even using credit cards to supplement our income. Today we no longer need to use credit cards. Today we actually have some savings set away for small emergencies. We no […]

Why Tracking Even The Small Expenses Is Important

A lot of people think it is good enough to keep track of the big purchases without worrying about the small everyday expenses. That thinking suggests that only the expenses over $100 or $500 are worth paying attention to. If that is your way of looking at things I am here to tell you that you could be looking at a financial downfall in your future. To clarify, it is important to make sure we have enough money for large purchases and bills. It is just as important that we make sure we can afford the small expenses. A few […]

Develop A Budget & Stick To It

If you want to stop living paycheck to paycheck, find debt freedom, build wealth, and give generously without worrying about your finances then you need a budget. Really everyone needs to make a budget but it sounds like such a scary thing to do. Not only does it seem overwhelming to do but if you actually look at your finances you might find negative balances, massive amounts of debt, and overall poorly planned financial decisions. However, I don’t want you to think of it as something that is negative. I want you to think of this as your starting point […]

Valentine’s Day Date Ideas For 2021 That Won’t Break Your Budget

Valentine’s Day can be an expensive day. Just thinking about all the flowers, chocolates, cards, stuffed animals, puppies, kittens, and going out to eat at fancy restaurants makes my wallet hurt. Where all these things are fun and even expected, there are things you can do that won’t hurt your wallet but will still be special and memorable. Do something fun together at home that doesn’t involve technology. Like cooking together. Make cookies shaped as hearts and start decorating! You can buy premade kits but those can be expensive. Try a new recipe and make the cookies from scratch. The […]