Home > Author Archives: Kayla Sloan (page 3)

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.

How to Protect Your Money When You Travel

How to Protect Your Money When You Travel

All too often we hear news reports about people who have been targeted by thieves while traveling. Some may have only had a camera or a watch stolen. Other unfortunate souls, however, lost much more. But are there way to protect your money when you travel so you don’t become the victim of a thief? Here are a few things I’m going to try to do to protect my money when I go on a trip next week. Leave it at Home One of the best ways to protect yourself and your valuables while traveling is to leave those items at home. Being away from home already puts you in a vulnerable position. For one thing, you most likely don’t know the area as well as your home town or city which makes it harder to navigate. In addition, you could end up in situations you wouldn’t normally be in, such as walking a dark street at night. Leave expensive jewelry and clothing at home. Don’t take a large amount of cash with you during your travels. Prepare Make advance copies of your birth certificate, passport, and other important documents. Put some of your money in your wallet and some ...

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5 Tip to Negotiate a Lower Credit Card Interest Rate

5 Tip to Negotiate a Lower Credit Card Interest Rate

Do you use credit cards? Personally, I try to avoid using them most of the time. I’ve found that it’s far too easy to pull it out and pay for everything. Plus, I’m somehow always end up spending more than I planned. But if you are like most people, including me, you do use one at least occasionally. Of course, if you use it often, it eventually catches up with you when the bill comes in the mail. If you aren’t able to pay it off in full each month, you may end up with high interest charges to pay each month on top of the cost of your purchases. But negotiating a lower credit card interest rate can help you get your purchases paid off without wasting as much money on interest. Here are some tips to help you negotiate a lower credit card interest rate. 1. Don’t Switch Cards Although it may be tempting to try to get a credit card from a different company and transfer the balance, it may not work to your advantage. Each time you apply to get a new credit card, the issuing credit card company does a hard inquiry to your credit ...

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Should You Move to Lower Your Cost of Living?

Should You Move to Lower Your Cost of Living?

When money gets tight, you are probably like most people. You may start looking for ways to cut your costs and stretch the income you have available in order to make ends meet.  But how far are you willing to go in order to pay for everything? If you find yourself in the situation where you have more month than money on a regular basis, you might be thinking about ways you can lower your cost of living each month. One way to do this is by moving to a lower cost of living area. But, should you move to lower your cost of living? Here are some things to consider first. 1. Job Loss Losing your job and income is one of the major reasons many people move, but moving may also help you lower your cost of living. It can give you the chance to start over and may be just what you need to bolster your spirits and get you going. Don’t do it on a whim, though, because there could be a few drawbacks too. For example you could be leaving behind extended family and friends you have known all your life. You may also be ...

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7 Ways Being Stressed Can Cause You to Spend More

7 Ways Being Stressed Can Cause You to Spend More

Do you ever feel stressed? If you do, you are not alone. Most people do at least occasionally and some people more often than others. Stress is a normal part of life and can come from many different situations. But have you ever thought about some of the side effects of stress on your life? For example, there are at least 7 ways being stressed can cause you to spend more. 1. Shopping You’ve probably heard of retail therapy. It’s a type of coping mechanism you may turn to when you are stressed. To put it another way, you shop in order to feel better. The problem is that you buy more than you need or things you don’t need at all to temporarily feel better. But the problem is that it can become an endless cycle or even an addiction. Both of these problems can rack up thousands of dollars of debt and be hard to end. 2. Gambling Another way you may try to deal with stress it to gamble. It can distract you from the real problem and, like shopping, gambling can also turn into an addiction. Once you lose on a few large bets, however, you ...

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How to Quickly Build Equity in Your Home

How to Quickly Build Equity in Your Home

As a homeowner, you may want to build equity in your home sooner rather than later for a variety of reasons. For example, you might want to build equity if you didn’t make a down payment of 20% of the home’s value. If that’s the case, you may be stuck paying for private mortgage insurance until you reach 20% equity, like I am. But no matter the reason, there are several ways you can quickly build equity in your home. 1. Use Your Tax Refund Did you get a tax refund this year? If you did and you haven’t spent it yet, you could apply that money toward your home mortgage. By paying down the loan against it you can increase the equity in your home. 2. Increase Your Monthly Payment If you have extra room in your budget, use the money to make larger payments toward your outstanding home mortgage. Make sure the extra money you pay each month goes straight toward the principal on your loan. With some companies this is automatic, but with others you have to specify how you want the extra money you’re paying to be used. If you don’t specify, they may apply it toward ...

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