Home > Author Archives: Kayla Sloan (page 14)

Author Archives: Kayla Sloan

Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.

What to do if You Overspend Your Budget

overspend your budget

When April started off, I had a good feeling about it. You see, March was expensive for me. I had a lot of extra business expenses, like investing in a new Macbook Pro, and expanding my team so I don’t have to work as much. But I also increased my income significantly. After that expensive month, my plan was to buckle down in April and pay off one of my credit cards in full by the end of the month, but now I’m not so sure that it’ll happen because I’ve definitely overspent my budget this month. Going over budget is something that happens to all of us from time to time. While going over budget isn’t good, at least you are looking for solutions to get back on track. Here are some things I’m doing now that I know I’m already over budget this month, and they are strategies you can use too if and when you overspend your budget. Evaluate Your Current Budget Take a deep breath and remain calm. Look at your budget to figure out exactly which categories you overspent in and why. For example, did you over spend on your entertainment budget? Maybe you are too ...

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Renting vs Buying: The Financial Benefits of Each

renting vs buying

For years I was firmly planted on the side of thinking that buying was always better than renting. However after nearly four years as a homeowner, I’ve begun to question this line of thinking, especially now that I have the freedom to live anywhere I choose because I’m self employed and my business is entirely based online. However, there are financial benefits to both renting and buying that must be taken into consideration before you, or I, decide if renting or buying is best. Here are some financial benefits of both renting and buying a home. Length of Time The length of time you plan to live in a home or apartment should play into this decision. If you are only planning to live in the same home for a few years, it would probably be better for you to rent rather than buy a home. The financial cost of moving as well as closing costs, realtor fees, etc. need to be spread out over several years to make it worth purchasing a home. Compare the Payments When you compare the monthly rent payment you currently make to the mortgage payment you would be making on a home, don’t forgot there’s ...

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5 Tips for a Successful Salary Negotiation

salary negotiation

One of my favorite things to discuss is finding ways to earn extra money. Commonly I suggest people get a part-time job, or start a side hustle as a freelancer or by using another skill or hobby to make some extra money alongside a full-time job. But sometimes the best way to earn more money is by asking for a raise. If you want to increase your salary at your current one, salary negotiation is a dance you must either already know the steps of, or learn quickly in order to be successful. There are several factors that contribute to the salary of any job, and not all of them can be controlled by you, the employee.  Certainly your professional experience and level of education are key contributors to the amount of money you take home each pay period. But the area of the country you live in as well as the size of your employer can also affect your salary negotiation tactics, along with the current success of both your employer and yourself. Fortunately, there are some things you can do to make your salary negotiation appointment be more likely to work in your favor. Here are 5 tips ...

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Financial Pros and Cons of Small Town Living

Like Kim, I too live in a small town. A few years ago she discussed some of the reasons why she and her family live in a small town, as well as some of the downsides of small town living. Honestly, I think it’s my favorite post of all time from Eyes on the Dollar because I knew exactly what she was talking about in her post. You see, I live in a small town of 7,000 and although I’ve thought about moving at different times over the past few months since I quit my job to pursue self employment, there are a lot of reasons that I keep coming back to small town living as the best option for me. Of course not all of the aspects of small town living vs big city living have to do with finances, but many of them do. If you have ever found yourself contemplating moving to a small town to get away from the big city, or vice versa, check out these financial pros and cons of small town living. Financial Pros of Small Town Living Small town living saves time. One of my favorite things about small town living is ...

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5 Things You Shouldn’t Be a Cheapskate About

I’m all for saving money. In fact, cutting my budget and spending is the first thing I did so I could start putting more money toward debt each month. Of course, I quickly learned that I needed help on the other side of the equation too, thus I started a side hustle that eventually lead me to full-time self employment. But that’s something I’ve talked about already. As much as I cut my budget, there are still something I knew I couldn’t be a cheapskate about. There are times that being a cheapskate ends up backfiring and actually costing you more money in the long run due to the low quality of cheap products and services. In my opinion, it’s best to find a balance between quality and quantity of what you choose to buy. That said, here 5 things you shouldn’t be cheapskate about if you really want to save money. Healthcare Last weekend I started getting sick. That’s why I missed putting my post up on the blog last Monday. As I lay in bed moaning about the pressure in my head from my allergies and a sinus infection, I realized that not having sick leave and still ...

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