All posts by millennialoutofdebt

How I Was Able to Raise My Credit Score 82 Points in Two Months

Maybe I have been doing this whole blogging thing wrong. Looking back, I realize I focus too much on content and not enough about backstory or stories in general. There is not a lot about my posts that stand out, and make a reader want to come back and read more. Moving forward, I want to better connect with my audience, and continue to grow this blog.

In any case, a goal I had set this year was to increase my credit score. My credit score was ok, it was in the “good” category. However, I was not satisfied with this. Although I am only 25 years old, I knew there was ways I would be able to improve my credit score. Continue reading How I Was Able to Raise My Credit Score 82 Points in Two Months


6 Ways To Save Money When Traveling Abroad

I recently returned from a nice vacation in Mexico. This was my first time in Mexico. For those of you who are planning to travel internationally, there is a good chance you will encounter various street vendors during your travel. These vendors will sell anything from jewelry to massages to potential gifts for the important people in your life. In highly touristy areas, vendors will often come up to you with the goal of starting a sales process. It is important to negotiate down prices so you don’t overpay for everything on your trip. This will save you lots of money. Below are 6 techniques I use to save money when haggling while abroad.

#1 Understand you are not obligated to buy anything

Continue reading 6 Ways To Save Money When Traveling Abroad

5 Secrets to Sticking to a Budget

Budgeting is like dieting – some people have it down pat, while many others know this is something they should be doing, but continue to push off. With that being said, budgeting is key if you want to take control of your financial life. Below are 5 tips I have to help stick to a budget.

#1 Have a goal

Having a g811oal is mind is important to sticking to your budget. If you are saving money just to save money, going over budget is not a big deal. However, if you are saving money to buy a new car, go on a vacation, build an emergency fund or anything else that you want/need then it is a lot easier to stick to your budget. Continue reading 5 Secrets to Sticking to a Budget

Here’s What Saving 1% of Your Paycheck Could Do…

Saving money is difficult. Even saving 1% of your paycheck can be a challenge. However, this percentage can have a huge impact on your ability to retire or become debt-free.

For example, let’s say you are 25 years old, make $40,000 a year today, and never get a pay increase from that salary. 1% of that would be $400 a year / $33.33 a month / $7.69 a week. To save this amount it could mean eating out one less time a week, skipping buying a few articles of clothing a month, skipping one night on the town a month, or many other options.
So, instead of spending that one percent of your paycheck you invest the money in the stock market.
On average the stock market has a return of 8% per year, or 10% if you
reinvest the dividends. Dividends are a sum of money paid regularly (typically quarterly) 1 percent returnby a company to its shareholders out of its profits (or reserves). Assuming you get a 10% return on your investment, by the time you are 65 the 1% you save monthly would be worth roughly $195,000. All from 1% of your paycheck. Continue reading Here’s What Saving 1% of Your Paycheck Could Do…

8 Things From Warren Buffett Young People Should Know

Warren Buffett is arguably the greatest investor of all time. One thing that separates Warren Buffet from others is his down to earth approach in life, investing, and business. He is full of great quotes that can relate to millennials. Below are 8 quotes by Warren Buffett that millennials should know and follow.

# 1 “Never ask a barber if you need a haircut.”

tumblr_o734v4kkyl1rka5ueo1_500This might be my favorite Warren Buffett quote of all time. In this situation the barber will always say yes. Even if you just got a haircut 3 days ago. The barber only makes money when people get their haircut. It’s important to take what professionals say with a grain of salt in order to better understand how they are compensated, and how much that is effecting what they are saying. Continue reading 8 Things From Warren Buffett Young People Should Know

How I was able to save 60% of my paycheck (after tax) in a month

I recently set the goal of saving 58% of my paycheck for the month February, and I was able to accomplish that! In fact, 60% of my paycheck stayed after the month ended. It was a pretty great feeling to be able save that much money. I had to change many aspects of my life to accomplish this, but it was not impossible. Continue reading How I was able to save 60% of my paycheck (after tax) in a month

How to Start Investing in the Stock Market

Investing in the stock market is an intimidating thing. Many millennials are told to start investing while they are young – this ensures your investments have time to grow over your lifetime. However, just getting started in investing can be extremely difficult.

There are multiple ways to start investing, such as opening/starting an IRA (individual retirement account), or joining your companies 401k/403b plan, but for the most freedom you will want to open a brokerage account. A brokerage account allows an investor to deposit funds with the brokerage and place investment orders with those funds. Continue reading How to Start Investing in the Stock Market