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5 Expensive Emergencies That Happen Right After You Cancel Insurance

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Canceling insurance might seem like a quick way to save money, especially when budgets are tight or you feel like you’re paying for something you never use. But the moment you cancel insurance, you expose yourself to risks that can cost far more than any premium. Emergencies have a knack for showing up at the worst possible time—often right after you let your guard down. Whether it’s your health, your car, your home, or even your pet, the financial fallout from being uninsured can be devastating. Here are five expensive emergencies that tend to happen right after you cancel insurance, and what you can do to avoid turning a short-term saving into a long-term regret.

1. Medical Emergencies That Drain Your Savings

Health insurance is one of those things you hope you never need, but when you do, it’s often for something big. Cancel insurance, and you’re suddenly on the hook for every doctor’s visit, prescription, and—worst of all—emergency room trip. Medical emergencies don’t wait for a convenient time. A broken bone, sudden illness, or unexpected surgery can cost thousands, if not tens of thousands, of dollars out of pocket.

According to the Kaiser Family Foundation, a three-day hospital stays in the U.S. costs around $30,000. Without insurance, even a minor accident can wipe out your savings or leave you with crushing debt. If you’re considering canceling your health insurance, think about how you’d handle a sudden medical bill and whether the risk is truly worth it.

2. Car Accidents That Leave You Financially Stuck

Auto insurance is legally required in most states for a reason. The moment you cancel insurance on your car, you’re exposed to the full financial consequences of an accident, whether it’s your fault or not. Even a minor fender bender can cost thousands in repairs, and if you’re found liable for injuries or property damage, the costs can skyrocket. Worse, you could be left with no recourse if an uninsured driver hits you. The Insurance Information Institute reports that about one in eight drivers in the U.S. is uninsured, making the risk even higher. Canceling your auto insurance might save you a monthly payment, but it could cost you your car, your savings, and even your ability to drive legally.

3. Home Disasters That Destroy Your Biggest Asset

Homeowners’ and renters’ insurance protects you from the unexpected—fires, storms, theft, and more. Cancel insurance on your home, and you’re gambling with your largest investment. Imagine a kitchen fire, a burst pipe, or a break-in. Without insurance, you’re responsible for every repair, replacement, and temporary living expense.

Even renters can face huge losses if their belongings are damaged or stolen. The cost to replace furniture, electronics, and clothing can add up fast. Home disasters don’t just threaten your comfort—they can threaten your financial stability for years to come. Before you cancel insurance on your home or apartment, consider the true cost of starting over from scratch.

4. Travel Mishaps That Turn Vacations Into Nightmares

Travel insurance often feels optional—until your dream trip turns into a logistical and financial nightmare. Cancel insurance before a big trip, and you’re left exposed to canceled flights, lost luggage, medical emergencies abroad, or even trip interruptions due to illness or political unrest.

Medical care in another country can be shockingly expensive, and some hospitals require payment upfront if you don’t have coverage. If you have to cancel your trip last minute, you could lose thousands in nonrefundable expenses. Travel mishaps are unpredictable, and without insurance, you’re left to navigate the chaos—and the bills—on your own.

5. Pet Emergencies That Break the Bank

Pet insurance is easy to overlook, but vet bills can be just as shocking as human medical expenses. Cancel insurance for your furry friend, and you might find yourself facing a heartbreaking choice if your pet gets sick or injured.

Emergency surgeries, treatments for chronic conditions, or even routine care can cost hundreds or thousands of dollars. Many pet owners end up putting expenses on credit cards or, worse, having to make difficult decisions about their pet’s care. If you love your pet like family, think twice before canceling their insurance. The peace of mind is often worth the monthly cost.

Why Canceling Insurance Is a Gamble You Can’t Afford

Emergencies don’t wait for a convenient time, and they certainly don’t care if you just decided to cancel insurance. The financial risks are real, and the costs can be life changing.

While it’s tempting to cut insurance when you’re looking to save money, the short-term relief rarely outweighs the long-term consequences. Instead of canceling, consider adjusting your coverage, raising your deductible, or shopping around for better rates. Protecting yourself from expensive emergencies is one of the smartest financial moves you can make.

Have you ever faced an emergency right after canceling insurance? Share your story or thoughts in the comments below!

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12 Red Flags That Indicate a Bad Neighborhood

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Living in a good neighborhood can significantly impact your quality of life, safety, and overall happiness. However, identifying whether a neighborhood is suitable can be challenging, especially if you’re new to the area. To help you make an informed decision, here are 12 red flags that may indicate a bad neighborhood.

1. High Crime Rates

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One of the most obvious signs of a bad neighborhood is a high crime rate. Checking local crime statistics can provide a clear picture of the safety of the area. Frequent reports of burglaries, assaults, or vandalism should raise concerns. Utilizing apps and websites that track crime in real-time can also help you stay informed about the neighborhood’s safety trends.

2. Abandoned Buildings and Lots

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Abandoned buildings and empty lots can be a significant red flag. These areas often become hotspots for illegal activities and can attract undesirable elements. They also reflect poorly on the neighborhood’s economic health, suggesting a lack of investment and development. When exploring a potential new home, take note of any such properties and consider their impact on the community.

3. Poorly Maintained Properties

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Well-maintained properties are a sign of a community that cares about its environment. Conversely, numerous homes in disrepair can indicate a lack of pride and investment in the area. Peeling paint, broken windows, and overgrown yards are not just eyesores but can also signal deeper issues. Consistent neglect might suggest that the residents or landlords are not invested in the neighborhood’s well-being.

4. Lack of Amenities

lack of amenities bad neighborhood

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A thriving neighborhood typically offers a variety of amenities such as parks, libraries, community centers, and shops. The absence of these facilities can significantly impact your quality of life. If the nearest grocery store or pharmacy is miles away, it can be a major inconvenience. Additionally, a lack of recreational spaces can be particularly concerning for families with children.

5. Frequent Police Presence

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While a visible police presence can be reassuring, an overabundance can suggest ongoing issues within the neighborhood. Constant police activity might indicate high crime rates or other persistent problems. It’s important to gauge whether the police presence feels protective or indicative of underlying troubles. Observing the nature of interactions between residents and law enforcement can provide further insights.

6. Low Property Values

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Significantly lower property values compared to neighboring areas can be a warning sign. This could reflect high crime rates, poor school performance, or a general lack of community investment. It’s essential to research recent property sales and trends to understand the market. A consistently declining real estate market can indicate deep-rooted issues within the neighborhood.

7. Poor School Performance

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Schools are often a reflection of the community. Poorly performing schools can signal broader social and economic challenges within the neighborhood. Low graduation rates and test scores may indicate a lack of resources and support for students. For families, the quality of local schools is a crucial factor to consider when choosing a neighborhood.

8. Limited Public Transportation

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Effective public transportation can enhance the livability of a neighborhood. Limited access to buses, trains, or other forms of public transit can make commuting difficult and inconvenient. This can also reflect on the area’s development and infrastructure planning. A lack of reliable public transportation options can isolate residents and reduce overall mobility.

9. Excessive Noise Pollution

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High levels of noise pollution can drastically affect your comfort and health. Frequent noise from traffic, industrial activities, or late-night disturbances can be unbearable. Before moving in, visit the neighborhood at different times of the day and week to assess the noise levels. Persistent noise issues can indicate a lack of community regulation and respect.

10. Graffiti and Vandalism

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While some graffiti can be seen as artistic expression, widespread vandalism often indicates neglect and disorder. Consistent tagging and damage to public property can be a sign of gang activity or general lawlessness. It also suggests that community pride and efforts to maintain public spaces might be lacking. Observing the cleanliness and upkeep of communal areas can give you a good idea of the neighborhood’s overall condition.

11. Infrequent Trash Collection

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Overflowing trash bins and littered streets can be a major red flag. This issue can lead to health hazards, pest infestations, and a generally unpleasant living environment. Inconsistent or infrequent trash collection services reflect poorly on the local governance and community organization. Cleanliness and sanitation are fundamental to a neighborhood’s livability.

12. High Turnover Rates

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A high turnover rate among residents can indicate dissatisfaction with the neighborhood. Constant movement in and out of the area suggests that people are not settling down and investing in the community. This can lead to a lack of stability and continuity, making it difficult to establish a sense of community. Investigate how long current residents have lived in the area to get a sense of its stability.

Trust Your Instincts and Do Your Research

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While these red flags are important to consider, it’s essential to trust your instincts and conduct thorough research. Visit the neighborhood multiple times, speak with current residents, and use online resources to gather as much information as possible. Remember, a neighborhood can greatly impact your lifestyle, so making an informed decision is crucial. By staying vigilant and aware of these warning signs, you can find a place that feels safe and welcoming for you and your family.

What Do I Do If I Get An Eviction Notice? 12 Tips To Keep You Off The Streets

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What Do I Do If I Get An Eviction Notice? 12 Tips To Keep You Off The Streets

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When you get an eviction notice, it can be an overwhelming and frightening experience, sending you into a state of uncertainty about your future housing. The key is not to panic but to act swiftly and strategically. Understanding your legal rights and options is essential in this situation. This article aims to empower you with knowledge and practical steps you can take to address the eviction notice effectively. By following these 12 actionable tips, you will better understand how to navigate this challenging time, potentially prevent eviction, and secure your housing stability for the long term.

1. Understand Your Eviction Notice

1. Understand Your Eviction Notice

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Understanding the specifics of your eviction notice is crucial. The details of the notice will guide your response. Eviction notices, such as Pay Rent or Quit, Cure or Quit, or Unconditional Quit, each require different actions. Make sure you fully understand the type of notice you’ve received, the reasons behind the eviction, and the deadlines by which you need to respond or vacate. Misunderstanding these can jeopardize your response and your rights. Often, these notices are required to provide specific details, including the amount owed or the lease terms violated, and they must be delivered in a manner prescribed by law, ensuring you receive them properly.

2. Contact Your Landlord

2. Contact Your Landlord

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Reaching out to your landlord can sometimes prevent the situation from escalating. Clear, calm communication might reveal that there was a misunderstanding that can be resolved without legal action. If the eviction is due to unpaid rent, inquire if a payment plan is an option. Some landlords are willing to negotiate under certain circumstances, especially if you have been a good tenant or if the rental market is slow. It’s important to approach this conversation diplomatically and with prepared points, possibly suggesting realistic payment arrangements or deadlines you know you can meet.

3. Review Tenant Rights in Your Area

3. Review Tenant Rights in Your Area

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Knowledge is power, particularly when it comes to legal matters. Each state and municipality has laws designed to protect tenants. These laws cover everything from the required notices before eviction to what constitutes a legal eviction. Familiarizing yourself with these rights can provide a strong defense against unjust eviction and might even offer avenues for legal recourse. Many regions have specific protections against eviction that can range from restrictions on the reasons for eviction to requirements for how eviction notices must be served.

4. Seek Legal Advice

4. Seek Legal Advice

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Legal advice is invaluable after you get an eviction notice. A qualified tenant attorney or legal aid organization can provide guidance tailored to your situation. These services can help interpret the nuances of your eviction notice and plan an appropriate response. Many legal aid societies offer free or low-cost services to those in need, ensuring you can get professional advice even if you’re financially strained. These experts can also represent you in court if the eviction proceeds to that stage, providing a defense based on local tenant law.

5. Explore Rent Assistance Programs

5. Explore Rent Assistance Programs

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Financial support is often available to those who are struggling to meet rental payments. Local charities, non-profit organizations, and government programs may offer grants or loans to help tenants in arrears. By securing financial assistance, you can address immediate financial obligations and potentially stave off eviction. These programs often require some documentation of financial hardship, so preparing your financial records in advance can expedite the process.

6. Document Everything

6. Document Everything

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Documentation can be your best defense in legal proceedings or negotiations. Keep a meticulous record of all correspondence with your landlord, receipts for any payments made, and any other interactions related to your tenancy. This organized approach can prove invaluable, particularly if the dispute escalates to court. Such records can also be useful if you need to apply for rent assistance or bring your case before a tenant board.

7. Ask for Help from Community Organizations

7. Ask for Help from Community Organizations

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Community organizations often have resources and expertise at their disposal to assist those facing eviction. They may be able to offer direct assistance, connect you with legal resources, or negotiate on your behalf. Leveraging these resources can provide additional support and options in your efforts to contest an eviction. These organizations might also provide emergency housing if an eviction cannot be avoided, ensuring you have a safe place to stay temporarily.

8. Consider Mediation

8. Consider Mediation

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Mediation can be a less adversarial and more cost-effective alternative to court proceedings. It involves a neutral third party who helps landlords and tenants reach a mutually acceptable resolution. Mediation can result in a compromise that suits both parties, potentially allowing you to stay in your home or leave without an eviction on your record. This process typically requires both parties to agree to mediation, so presenting it as an option to your landlord can be a practical step.

9. Plan for a Worst-Case Scenario

9. Plan for a Worst-Case Scenario

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While fighting your eviction, it’s prudent to prepare for all outcomes. Begin searching for alternative housing options, understanding tenant rights after you get an eviction notice, and considering storage solutions for your belongings. Having a backup plan can alleviate the stress of uncertainty and provide a clear path forward should you need to relocate. Also, pack essential items and important documents in an accessible place in case you need to move quickly.

10. Stay Informed About the Eviction Process

10. Stay Informed About the Eviction Process

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Understanding the eviction process is crucial for navigating it effectively. Familiarize yourself with the stages of eviction, from the initial notice to possible court proceedings. Being informed can demystify the process and reduce anxiety, helping you to make informed decisions about how to respond at each stage. Local tenant councils, legal aid societies, and even some libraries offer workshops and resources to help tenants understand this process.

11. Improve Your Financial Stability

11. Improve Your Financial Stability

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Addressing your overall financial health can prevent future housing issues. Look into creating a budget, cutting unnecessary expenses, and finding ways to boost your income. Financial stability is key to maintaining your housing and avoiding future evictions. Consider consulting with a financial advisor or utilizing budgeting tools and apps to keep your finances on track.

12. Reach Out to Social Services

12. Reach Out to Social Services

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Social services can offer more than just housing assistance. They may provide access to food pantries, job training programs, and mental health services. Utilizing these resources can help stabilize other areas of your life, making it easier to focus on resolving your current housing crisis. These services are often free or low-cost and can provide significant relief during stressful times.

Navigating Your Way Through Eviction

Navigating Your Way Through Eviction

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Dealing with an eviction notice is undeniably stressful, but it’s not insurmountable. By taking structured, informed actions, you can significantly improve your situation. These 12 tips are designed to empower you, giving you the knowledge and tools to navigate through the process after you get an eviction notice. Remember, each step you take can help build a more stable future. Act promptly and seek help where needed, as numerous resources and support systems are available to assist you in this challenging time.

Prioritizing Home Renovations

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As I’ve said previously, K and I are moving back to our home in Oconomowoc, WI. We’re head over heels excited about it, but there are some things we need to do and some things that we want to do. Today, I’m going to talk about some of the projects we have planned and help you prioritize your home renovations.

What we need to do

There are two/three things that we need to do once we move back.

The first thing is to sure up the foundation. Our house is old, really old. The foundation is not as secure as we need it to be, so that’ll be the first thing we do. Get some extra support posts installed in the basement and secure/replace some of the old joists that have seen better days.

The second thing we have to do is insulate the kitchen. I don’t know what the prior owners did (they remodeled the home and flipped it to us), but the kitchen bleeds AC/heat. In the winter, it’s very clear because it’s darn cold in the kitchen. What’s more, the kitchen sink and the dishwasher will stop working if it gets too cold. To ensure the pipes won’t freeze and burst, and make the kitchen more energy-efficient and comfortable, we have to insulate.

The third thing is not incredibly important but should get done at some point. Off of the kitchen is the back door entrance. You enter into a “three-seasons room” and then enter a second door to get into the kitchen. The three seasons room needs insulation as well. Beneath it, we need to lay a vapor barrier on the ground and spray insulation into the floor joists. Now, this is not very important because of the second door. However, more insulation will allow for more utilization of that room.

What we want to do

This list is pretty long, as is the case for most homeowners. Some of the windows need to be replaced, we want to install an island in the kitchen, and we want to remodel the downstairs bathroom.

With regard to the bathroom, the current setup is one full bath and one-half bath. They are right next to each other, but the half bath (in terms of square footage) is much bigger than the full bath. What we would like to do is demo the wall in between and make it one, big bathroom. The price tag for this is a little higher than the other projects, so it’s a little farther down on the list.

How to prioritize

The first three renovations are no-brainers. These need to get done. Securing the foundation is paramount for our family’s safety, the insulation is important to avoid possible water damage and lower heating costs, and taking care of the back porch/three-season room will expand the usable square footage.

You have to take into account a few things:

  1. Family safety
  2. Family comfort
  3. Financial sense
  4. ROI – Return on Investment

Safety is your number one priority. That’s what makes a home, being comfortable living there. Replacing windows can be expensive, but they will pay for themself over time with savings in utility costs. In terms of the bathroom, it should increase the value of the home, but how much we spend versus how much the value increases is a factor to consider.

Conclusion

Projects and renovations go hand in hand with home ownership. What’s important is prioritizing home renovations so you take care of what’s needed before you tackle what you want.

Related reading:

How Buying a House and Saving for Retirement are Similar

5 Surprising Things Not Covered by Homeowners Insurance

 

**Securities offered through Securities America, Inc., Member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. Securities America and its representatives do not provide tax or legal advice; therefore, it is important to coordinate with your tax or legal advisor regarding your specific situation. Please see the website for full disclosures: www.crgfinancialservices.com

How To Sell Your House During The Holidays – 2 Guys and Your Money 58

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You’ve read the article on our site….now let’s discuss it on our podcast!

Everyone says the holiday season is a horrible time to try and sell a home….but we think you can use the festive atmosphere to your advantage. How do you sell a house during the holidays? We share some tips and tricks to help you hurdle holiday challenges and turn them into assets.

Show Notes

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Surprising Mother’s Day Facts

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Mother’s Day is almost here. Did you buy flowers? Plan something special? Remember that Mother’s Day doesn’t have to be expensive to be fun…it needs to be personal and warm. If you think that expensive equals expensive and warm, I’d say that….yes…..you’ve drank the consumerism Kool-Aid.

This was too good to pass up. Here are some surprising Mother’s Day facts that you can share with the family (I recommend the ones about sex….follow up that conversation with religion and politics…..).

Enjoy!

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Infographic brought to you by: Rather-Be-Shopping.com

 

What’s your favorite Mother’s Day memory?

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Budget Nightmares: What Are You Doing At 2 A.M.?

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When I left The Citadel (go Bulldogs!) to attend Michigan State (go Spartans!), I said goodbye to a lucrative track and cross country scholarship. I felt bad, but the writing was on the proverbial wall. My coach had given me “one more year” to run better at the end of year one, and I promptly pulled a quadricep muscle early into the fall campaign. I’d been a guy they thought was a (quoting the coach), “Diamond in the rough” anyway. Turns out I was pretty much just rough.

Immediately, I had money problems. My parents couldn’t afford to pay for MSU. I had this general notion that financial aid would cover everything. Imagine my bitterness  when I found out that my dad made too much money to qualify for any need-based aid.  My loan package quickly swelled as my first course of action was to get through school quickly. When I realized what a mess these loans would be, I made the tough decision to become a part time student working three jobs.

Here’s how I made that decision:

During one of my money woes, I tuned in to my favorite late night money talk show hosts on the radio: a guy named Bruce Williams. He sounded like that knowledgeable grandfather who’d give you either an arm around your shoulder or a swift kick in the butt. Maybe listening to him was the idea behind our podcast….I don’t know.

One night, drowning in my own debt and hopeless money situation, I heard a woman call in to the show. She and her husband both worked hard, but they weren’t making ends meet. Bills continually piled up and their reserves dwindled.

“What are you doing at 2 a.m.?” Bruce asked.

The woman stuttered. “What do you mean? We’re sleeping!”

“Why are you sleeping at 2 a.m. when your bills are getting further and further behind?”

The woman quickly answered, “We need all the sleep we can get so we work well at our job in the morning.”

Bruce sighed. “So you’re saying you need your job worse than your house and car? Then why don’t you sell your house or car?”

“I can’t sell my house or my car. Then I wouldn’t have any place to live!”

“My point exactly,” he said. “So, if you like your house and your car, what are you doing at 2 a.m.?”

“What are you getting at? I can’t do more than I’m doing.”

The radio host laughed. He had this chuckle that always sounded a little sad. “What I’m getting at is that you have serious money problems, but you don’t want to change anything. If you’re serious about solving your money problems, you’ll get a night job too, or you’ll find ways to make more money at your day job.”

The woman quickly interjected, “We’re both at the top of our pay scale. That’s why we need to hold on to these jobs.”

“You aren’t listening,” Bruce said. It was one of the few times I’ve ever heard him turning angry on the show. “You can’t work like you do, eat like you do and sleep like you do AND expect something to change.”

Unbelievably, she ranted at him. “I can’t believe this. I call you for serious advice and all you do is blame my job, blame my house, and blame me. We’re doing everything we can do and it isn’t getting any better.”

…and she hung up on him!

Maybe she wasn’t listening, but I sure was. I became a substitute paper boy and redoubled my efforts to advertise my disc jockey service better. I went around to fraternity houses and spoke directly with the social chairmen. I made mixed tapes with some cassettes I had laying around and brought them with me (that dates me, huh? I’m glad I didn’t say reel-to-reel tapes….). Later, I found out that my tapes were a hit around the school. More than that, extra money started to trickle into my hands, and my view of my financial situation changed.

 

Here’s what I learned:

  1. I’m in charge of my financial destiny.
  2. Sleep is overrated when you’re in over your head.
  3. Financial planning is easy. It’s either an income problem or an expense problem. If you can’t fix one, you have to fix the other by default or the plan won’t work.

If you’re reading this because you’re in broke week (a term coined by my friend Michelle over at See Debt Run), you can either fix it once today and have to fix it again next month, or you can change your money earning skills or spending habits. For short term needs, you could borrow cash, but remember that this isn’t the final solution: it’s duct tape until you’re able to get on your feet.

While we’re talking about duct tape on your financial situation, how about a cool $100 cash or Amazon money? Would that help you avoid your long term plan for a few more days? Ha! Maybe you can use it to buy a radio that’ll change your life, too….

Enter our gigantic giveaway below:

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