Thought for today: Savings Plans can start very small and still grow surprisingly well. Many DA members review their plans with their Pressure Relief Group, for unbiased perspective on what is within their means to invest. Some companies encourage their employees to take part in automatic payroll deductions on pre-tax dollars into retirement accounts, such as a 401k account in […]
Continue reading →Thought for today: The term “time value of money” means that each payment applied to a loan’s principle amount (the amount before interest) will slightly reduce the remaining interest payment. It shortens the life of the loan a bit more each time you pay an extra amount. Paying off the highest interest rates first makes the most sense. Making […]
Continue reading →Thought for today: After we stabilize our spending, and have been fully tracking and reviewing our numbers for a while, we will want to begin setting aside a small amount of money toward a prudent reserve fund, and toward debt repayment. The amount we put aside is not important – what matters is that we […]
Continue reading →Thought for today: A member shares: “After I had a Pressure Relief Meeting, I felt better. I was able to think clearer about money. ” I built up a cash reserve first. After a while I started allocating money to debt repayment. I repaid proportionally to each creditor based on the percent of total […]
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