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Is A Debt-Free Life Possible?

Is A Debt-Free Life Possible?

Is A Debt-Free Life Possible?

(NewsUSA) – Financial freedom – that is still the American dream, right? But how many Americans are still living paycheck to paycheck, with each month presenting the same financial challenges. Maybe what is missing is a solid plan, a strategy for managing finances.

Leslie Balfaqih couldn’t believe how much money she and her husband wasted every month.

“Our financial life was a mess,” Leslie said from her home in Florida. “To say we were disorganized is putting it mildly.”

Like so many Americans, they didn’t have a plan for their money. The problem is often not how much money a family makes, but that they have no idea what they’re spending it on. Seventy-eight percent of full-time workers say they live paycheck to paycheck, according to a recent report from CareerBuilder. Worse, most feel it will always be that way. But it doesn’t have to be.

Financial experts agree that the best way to break the vicious cycle of scrambling to make ends meet is by having a written budget and sticking to it. Leslie heard about a website, and the EveryDollar budgeting app that makes it simple to create a budget, manage money, and track spending. They signed up, set up their budget, and they’ve stuck to it for years.

“We paid off $165,000 in debt since we got started,” she said. “Now we’re in a position to be completely debt-free, including our house and rental property, in the next three years.”

That sounded good to us, here at The Neyland Report, so we decided to give it a try. Sure enough, this app is easy to use, simple to navigate and thorough in its approach to budgeting. You can find EveryDollar on GooglePlay or the App Store. It downloads instantly, and once you complete the 60-second sign up procedure, you’re ready to create your own budget.

The “B” word has gotten a bad rap. Budgeting sounds hard. It sounds restricting. Frankly, it sounds boring. But people who’ve made budgeting the center of their financial behavior have discovered quite the opposite. The technology behind apps like EveryDollar make budgeting easy. Rather than feeling restricted, they say it feels as if they have permission to spend – just not permission to waste.

Sierra Schmidt was surprised by how much having a budget changed her attitude. She’s a single mother in Spokane, Washington, whose bills include daycare, rent, and student loans. “I felt so far behind every month, and things seemed hopeless,” she said. “Now, I keep track of every dollar, and the numbers are right in front of me. I’m getting ahead instead of falling behind. Every month I feel more confident that I can wipe out the debt that’s been so stressful.”

The Neyland Report has no connection to EveryDollar, but when we come across apps or websites that we feel could empower our community members to live a better life, we plan to pass them on. Just remember: A budget is nothing more than a plan, and if the plan can ease your financial anxiety, it may be worth a try.

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