Is Being Debt Free Worth it?

I had a great talk with Millennial Money Man yesterday and my favorite piece of advice he gave me was to “write what you’re passionate about.” It took me literally five seconds to think of the one thing I’m really passionate…

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Debt Consolidation – What You Need To Know

This page may include affiliate links. Please see the disclosure page for more information. If you have many different debts with different interest rates, payoff schedules, and balances, it may sound like a good idea to sign up for debt consolidation. Debt consolidation can seem appealing with the promise of a significantly lower monthly payment and a…

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Debt Consolidation – What You Need To Know was first posted on October 18, 2019 at 6:00 am.
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What Are Junk Debt Buyers?

If you’ve ever had an overdue bill get sent to collections, then you may have encountered a junk debt buyer. These companies purchase overdue accounts from a business or lender with the intent of collecting…

The post What Are Junk Debt Buyers? appeared first on Crediful.

Source: crediful.com

Should You Make Payments During Coronavirus Student Loan Deferment?

As Americans grappled with the financial consequences of the pandemic in March of this year, the federal government took several actions to help cash-strapped consumers. For starters, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in late March of 2020, which included a temporary suspension of payments and interest for government-owned student loans through the end of September 2020.

Beyond just suspending payments and interest, the act also halted all collections activities on federal student loans. Americans pursuing Public Service Loan Forgiveness (PSLF) would see these non-payment months counted toward the 120 months of payments needed to have their loans forgiven. 

You can continue making payments on your federal student loans during the deferment period if you want to. Whether you should, depends on your goals and your situation.

This announcement was a huge relief for Americans with student debt since it meant they could pause federal student loan payments without accruing interest or facing penalties for several months. And recently, this assistance was extended for the remainder of 2020.

About the Student Loan Deferment Order

According to a memorandum from the White House, this extension intends to “provide such deferments to borrowers as necessary to continue the temporary cessation of payments and the waiver of all interest on student loans held by the Department of Education until December 31, 2020.”

What does this mean for borrowers? The extension of this order means that those with federally owned student loans (not private student loans) can continue skipping payments for the duration of 2020. Interest won’t accrue on federal student loans during this time, and penalties won’t come into effect for those who choose to defer loan payments.

How Does This Help Student Loan Borrowers?

Although unemployment numbers have improved since the summer, the initial pause on federal student loan payments was of massive help for borrowers struggling with job loss or a loss in pay. After all, getting a break from student loan payments made room for funds to go toward other household needs and bills. Keep in mind that the average student loan payment is approximately $393 for all borrowers, but that many with advanced degrees pay significantly more than that every month.

When the Presidential action was released, it was unclear whether borrowers pursuing PSLF will still receive credit for non-payment months. However, a U.S. Department of Education press release clarified that PSLF borrowers would, in fact, receive credit toward loan forgiveness as if they’d made on-time payments.

Just keep in mind that this order does not apply to consumers with private student loans. Only federal student loans qualify for this protection, although some private student loan companies are offering their own separate deferment options to consumers who can show financial hardship.

Pros and Cons of Making Payments During Automatic Deferment

One interesting detail from this order is buried in the fine print:

“All persons who wish to continue making student loan payments shall be allowed to do so, notwithstanding the deferments provided pursuant to subsection (a) of this section.”

In summary, you can continue making payments on your federal student loans during the deferment period if you want to. Whether you should, depends on your goals and your situation.

Benefits of Making Loan Payments 

If you haven’t faced a loss in income, then you might be tempted to continue making payments on your student loans. The benefits of doing so include:

  • Paying down your student loan debt faster. The Department of Education says that, through the end of 2020, “the full amount of your payments will be applied to principal once all the interest that accrued prior to March 13 is paid.” This means that every cent thrown toward your loans right now applies to your loan balance, quickly reducing your student debt on a dollar-for-dollar basis.
  • Saving money on interest. Because of the way interest accrues on student loans and other debts, reducing your balance will automatically save you money on interest over the long haul. The more you pay toward your student loans now, the more money you save.

Disadvantages of Making Loan Payments

There are a few potential downsides to making student loan payments when they’re not required. Plus, borrowers with certain types of student loans should not be making payments right now. 

Here are a few considerations to keep in mind.

  • You may need the money later on. Even if your income is fine right now, the financial fallout from the pandemic is far from over. If you choose to make student loan payments through the end of the year and lose your job in a few months, you might wish you had saved that extra cash instead. 
  • Those pursuing PSLF shouldn’t make payments. If you’re pursuing PSLF, then this deferment period is counted toward the 120 on-time payments you need for loan forgiveness. If you continued making payments through the end of the year, you would be throwing money down the drain.
  • Most borrowers on income-driven repayment plans have little incentive to make payments. If you’re on an income-driven repayment plan like Pay As You Earn (PAYE) or Income Based Repayment (IBR), then your loan payment is only a percentage of your discretionary income, and your loans will be forgiven after 20-25 years of on-time payments. Borrowers who aim to have their loans forgiven after 20-25 years anyway should skip payments through the end of the year and set aside their cash for a rainy day instead.

The Bottom Line

Individuals who want to pay off their loans quickly would be smart to pay as much as they can, but only if they can afford it. It also makes sense to be cautious about any extra income you have for the time being. After all, more economic pain may be on the way, and it’s possible you could face a loss in income later in the year.

Without any interest accruing on federally owned student loans during this historic forbearance, however, you could always put your student loan payments into a high-yield savings account until the end of the year. At that point, you can assess your financial situation and make a large, lump sum payment toward your loans if you want.

This strategy creates a greater safety net for the remainder of 2020 while also paying down debt faster with a large payment before the end of December. Run the numbers and make sure you have a plan (and a back-up plan) in place.

The post Should You Make Payments During Coronavirus Student Loan Deferment? appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

The Worst Ways to Deal With a Bill Collector

The Worst Ways to Deal With a Bill Collector

Dealing with a bill collector is never fun and it can be particularly stressful when you’re sitting on a mountain of debt. Sometimes debt collectors fail to follow the rules outlined in the Fair Debt Collection Practices Act. If that’s the issue you’re facing, it might be a good idea to file a complaint. But if you’re personally making any of these mistakes, your debt problem could go from bad to worse.

Check out our credit card calculator.

1. Ignoring Debt Collectors

Screening calls and avoiding bill collectors won’t help you get your debt under control. Debts generally have a statute of limitations that varies depending on the state you live in. Once it expires, the collector might not be able to sue you anymore. But you could still be responsible for paying back what you owe in addition to any interest that has accumulated.

In addition to the potential legal consequences of unpaid bills, letting old debt pile up can destroy your credit score. Unpaid debts can remain on a credit report for as many as seven years. So if your debt collector is getting on your last nerves, it might be best to stop hiding and face him head on.

2. Saying Too Much Over the Phone

The Worst Ways to Deal With a Bill Collector

If you decide to stop dodging your bill collectors, it’s important to avoid sharing certain details over the phone. You never want to say that you’ll pay a specific amount of money by a deadline or give someone access to your bank accounts. Anything you say can be used against you and agreeing to make a payment can actually extend a statute of limitations that has already run out.

A debt collector’s No. 1 goal is to collect their missing funds. They can’t curse at you or make empty threats, but they can say other things to try and scare you into paying up. Staying calm, keeping the call short and keeping your comments to a minimum are the best ways to deal with persistent bill collectors.

Related Article: Dealing With Debt Collectors? Know Your Rights

3. Failing to Verify That the Debt Is Yours

When you’re talking to a bill collector, it’s also wise to avoid accepting their claims without making sure they’re legitimate. Debt collection scams are common. So before you send over a single dime, you’ll need to confirm that the debt belongs to you and not someone else.

Reviewing your credit report is a great place to start. If you haven’t received any written documentation from the collection agency, it’s a good idea to request that they mail you a letter stating that you owe them a specific amount of money.

If you need to dispute an error you found on your credit report, you have 30 days from the date that you received formal documentation from the collection agency to notify them (in writing) that a mistake was made. You’ll also need to reach out to each of the credit reporting agencies to get the error removed. They’ll expect you to mail them paperwork as proof of your claim.

4. Failing to Negotiate the Payments

The Worst Ways to Deal With a Bill Collector

No matter how big your debts, there’s usually room for negotiation when it comes to making payments. If the payment plan your bill collector offers doesn’t work for you, it’s okay to throw out a number you’re more comfortable with.

Sometimes, it’s possible to get away with paying less than what you owe. Instead of agreeing to pay back everything, you can suggest that you’re willing to pay back a percentage of the debt and see what happens. A non-profit credit counselor can help you come up with a debt management plan if you need assistance. Whatever you agree to, keep in mind that the deal needs to be put in writing.

Related Article: All About the Statute of Limitations on Debt

5. Failing to Keep Proper Documentation

Whenever you communicate with a bill collector, it’s a good idea to take notes. Jotting down details about when you spoke with a collector and what you discussed can help you if you’re forced to appear in court or report a collector who has broken the law. Collecting written notices from bill collectors and saving them in a folder can also help your case.

Bottom Line

Dealing with bill collectors can be a real pain. By knowing how to interact with them, you’ll be in the best position to get rid of your unpaid loans and credit card debt (that is, if you actually owe anything) on your own terms.

Photo credit: ©iStock.com/Steve Debenport, ©iStock.com/RapidEye, ©iStock.com/JJRD

The post The Worst Ways to Deal With a Bill Collector appeared first on SmartAsset Blog.

Source: smartasset.com

How To Clean Stainless Steel: 10 Affordable Methods For A Sleek Finish

Stainless steel is best known for its ability to resist rust and other corrosion, making it a prime choice for kitchens and bathrooms. However, it’s hardly ever free from fingerprints and other marks, so you can’t forget to clean it routinely. The good news is, there are plenty of easy and cheap ways to make your stainless steel look brand new again.

Stainless steel material

Before we dive in on ways to clean your stainless steel you must first understand the material. Just like wood and certain fabrics, stainless steel has a grain to it. These are faint striations you can see on its surface. As you wipe the material, make sure you go in the direction of the grain for optimal cleansing and shine.

Now that we’ve got that covered, check out these top 10 tips on how to clean stainless steel to gain back its sleek and flawless finish.

1. Dish soap and baby oil

The dish soap and baby oil duo is almost unbeatable when it comes to cleaning and polishing. The dish soap will clear the stainless steel of any oils, fingerprints and dust on your surface while the oil polishes and makes it shine. Simply moisten a cotton rag and put a little bit of dish soap on it and wipe along the grain of your stainless steel. Once you’re rid of any marks, dry the surface with a clean towel.

Next, dab a small amount (a couple of drops) of baby oil onto another rag. Wipe along the grain as you did in the cleansing process with the dish soap. This gives your stainless steel a properly polished finish as if it was brand new!

Best for: Stainless steel appliances, countertops, sink, pots and pans

2. Windex and microfiber cloth

personal cleaning stainless steel ovenpersonal cleaning stainless steel oven

People often complain about fingerprints left on stainless steel. However, using a glass cleaner like Windex will do the trick! Spray the cleaner on a dry cloth (preferably microfiber) and evenly apply in circular motions. It’s not recommended to spray directly onto your appliance, as this could result in more drip marks and residue. Repeat the process until there are no more fingerprints and then rinse thoroughly and dry with a towel.

Best for: Stainless steel appliances and countertops

3. White vinegar and olive oil

White vinegar and olive oil are also great for cleaning any grime while polishing your stainless steel appliances. Apply white vinegar to a microfiber cloth or spray it directly onto your surface and let it sit for a moment before wiping it away (with the grain). Repeat this process until there is no more grime left to remove. Finally, dab a clean towel in some olive oil and polish in the direction of the grain. If any olive oil remains, wipe away with a fresh cloth.

Best for: Stainless steel appliances and countertops

Does vinegar damage stainless steel?

If left on for too long, vinegar can cause damage to your stainless steel. It’s important to not let any stainless steel material soak in a vinegar solution, but it’s harmless if you make sure to wipe it away in a timely manner.

4. Club soda

Girl cleaning stainless steel ovenGirl cleaning stainless steel oven

Club soda surprisingly is a great cleaner as it cleanses away any fingerprints and food residue while simultaneously leaving a nice shine. Spray club soda directly onto your stainless steel surface and then wipe in the direction of the grain. Repeat as necessary.

Best for: Stainless steel appliances, countertops, sinks, pots, pans and jewelry

5. Warm water

Plain water seems so simple, but you’d be surprised how much cleaning some warm water and elbow grease can accomplish. It’s also the least risky option for cleaning stainless steel. Simply dampen a microfiber or special polishing cloth with some warm water and wipe your surface in the direction of the polish lines. Once you’ve ridden any unwanted smudges and residue, dry the material with a clean towel or cloth to prevent water spots.

Best for: Stainless steel appliances, countertops, sinks, pots and pans

6. WD-40

Have a leftover can of WD-40 from your squeaky door? Well lucky for you, WD-40 also cleans and protects surfaces including stainless steel. Spray some directly onto your appliance or into a clean rag and then wipe in the direction of the grain. For an added bonus, WD-40 provides a layer of protection to help prevent future smudges and pesky fingerprints. Keep in mind that this is a petroleum-based product, so it should be used with care around surfaces where you’ll be handling food. So make sure you clean thoroughly before proceeding as normal.

Best for: Stainless steel appliances

7. Lemon oil furniture polish

Someone using lemon oil furniture polish to clean stainless steelSomeone using lemon oil furniture polish to clean stainless steel

If you have some furniture polish laying around, that’ll also do the trick for cleaning your stainless steel. Apply the polish to a clean cloth and rub it evenly on your appliance. Don’t apply the polish directly onto your stainless steel surface, as it may leave you with too much uneven excess. Once it’s evenly applied, wipe it clean with a fresh cloth in the direction of the grain.

Best for: Stainless steel appliances

8. Flour

Not only is flour great for baking delicious cakes, but also for buffing and polishing your stainless steel. Flour isn’t great for cleansing away grime or grease, but is a great final touch that will make your surfaces shine! Simply sprinkle flour onto your dry stainless steel surface until it’s fully covered. Then use a soft cloth to buff in circular motions until your surface starts to shine like it’s brand new!

Best for: Stainless steel countertops, sinks, pot and pans

9. Baking soda

someone using baking soda to clean stainless steel pansomeone using baking soda to clean stainless steel pan

Baking soda is a magic worker when it comes to cleaning. You can use it for just about anything and it’s extremely easy and cheap to come by. Make a paste with baking soda and water and let it sit on a problem area for a few minutes. Wipe away using a rag dampened with white vinegar followed by a cloth dampened with water. Dry using a microfiber cloth. This process is best for more stubborn stains and heavy-duty messes.

Best for: Stainless steel countertops, sinks, pots and pans

10. Store-bought stainless steel cleaner

Of course, there are cleaners that are specifically designed to clean and polish stainless steel, but they are rather expensive. If your appliance or surface has major staining, scratching or just needs a thorough polishing, this is an excellent option that may just be worth the extra penny. Make sure you read the directions on the cleaner and do a test on a small spot on your stainless steel before fully diving in.

Best for: Stainless steel appliances and countertops

What should you not use on stainless steel?

Now that you know what can be used on stainless steel, it’s important to cover the major “don’ts” when it comes to proper cleaning of the material.

Do not use:

  • Chlorine-based products
  • Oven cleaners
  • Steel wool or harsh scratchers or sponges
  • Harsh tap water that could leave water spots and stains (best to use distilled or filtered water)

What is the best cleaner for stainless steel?

If you are looking for the absolute best solution to your stainless steel cleaning routine, a store-bought cleaner may be your best option. However, DIY cleaners come in a close second and are much cheaper and convenient so give those a try before opting for a commercial cleaner.

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Source: apartmentguide.com

Struggling with money anxiety and finding balance

On Saturday evening, I had a chance to chat with my friends Wally and Jodie. You might remember them from a reader case study from last August. They’re the couple that wants to get their finances in order but they’re worried because they’re starting with less than zero.

When we chatted in August, Wally and Jodie had over $35,000 in debt. They had variable incomes, but somehow seemed to spend exactly what they earned — about $3000 per month after taxes. Worst of all, they were behind on some payments.

Now, eight months later, their situation has improved.

Over smoked German sausage and beer, Wally and Jodie told me about their progress. (My dog, Tahlequah, was eager to take part in the conversation. Or maybe it was the sausage she wanted?)

Jodie, Tally, and Wally

Taking Baby Steps

“Based on your advice, we’ve worked hard to increase our incomes,” Jodie told me. “We’ve both been picking up extra shifts whenever possible. And I started a second job that pays pretty well.”

“So, you’ve been able to get a gap between your income and your spending?” I asked.

“You bet,” said Wally. “By working more, we don’t have time to spend much money. In August, we didn’t have any gap between our earning and spending. Our gap was zero. Now our gap is almost $2000! And we’ve been using the debt snowball method to get out of debt. We’ve already paid off a bunch of smaller stuff and now have $438 extra per month for debt payoffs. Plus, we have an emergency fund.”

“This all sounds amazing,” I said. “Great work!”

“It is amazing,” Wally said. “This is the best shape I’ve ever been in financially. But we’re struggling to figure out what to do next.”

“What do you mean?” I asked.

“Well,” said Jodie. “We’re getting married in September. We don’t know how much to budget for that. Meanwhile, we still have a lot of debt. We owe about $10,000 on Wally’s car. We had to replace my Mini Cooper last winter, and that brought us another $10,000 of debt. Plus, I still owe on my school loans.”

I did some mental math. While the couple’s cash flow has improved, I was a little nervous that they hadn’t actually decreased their debt since the last time we talked about money. That said, I know Jodie’s old car had been a thorn in their side. And they have paid down nearly $10,000 in miscellaneous debts.

“The real issue is that we can’t seem to find balance,” Wally said. “We’re burned out. We’ve been working so much that we never have time for ourselves. Or each other. It’s affecting our moods and our attitudes.”

“Yeah,” I said. “That’s tough.”

Wally nodded. “Now I have a friend who wants us to fly out to his wedding,” he said. “We’ve done the math, and we can’t afford it. He’s offered to pay for the trip, but we don’t know how we feel about that. We want to go, but even if we do accept his help, it’ll cost us a few hundred bucks — plus whatever income we lose while we’re gone.”

“What should we do?” Jodie asked. “We thought saving more would reduce the stress, but we’re just as anxious as ever. Well, maybe not anxious in the same way, I guess, but still. We’re worried about money — even with a $2000 gap each month.”

“Trust me,” I said. “The money worry never goes away. Everybody has money anxiety, no matter how much they earn, no matter how much they have saved.”

Worrying About Money

“Do you worry about money?” Wally asked.

“Yes, of course,” I said. “I’m basically financially independent, but I still have money anxiety. In fact, I’m so worried about it that this year I’m tracking every penny I earn and spend. And, just like you, there always seems to be something that comes up for me to spend on. There’s my heart-attack scare, which now looks like it’ll cost me $7500. I just paid a huge tax bill. And there’s all of this travel I’ve committed to this year. It’s always something.”

“Should we fly to my friend’s wedding?” Wally asked. “I haven’t seen him in a long time. I can tell it’s important to him for us to be there.”

“That’s a tough call,” I said. “And it’s an example of how personal finance isn’t just about the numbers. There are relationships and emotions to consider too.”

“From a financial perspective, I don’t think you should go. But it’d be hypocritical of me to tell you that. My cousin Duane is still fighting cancer, but he wants to make another trip to Europe next month. At first, I was reluctant to join him. Like I said, I’m trying to cut expenses this year because I feel like I’m spending too much. But you know what? I’m going. So, you see, my advice and my actions are at odds here.”

I didn’t know how to tell Wally and Jodie, but my biggest concern with their situation is that it seems like they’re getting ready to stop the race when they’ve barely begun. They’re not out of debt yet. They’ve made some excellent progress, but there’s still a long way to go.

They’ve spent eight months on this project. From the looks of it, they have another eighteen months to go — but that’s if they use the gap they’ve created to accelerate their debt payments. If they don’t choose this route, it’s going to take them even longer.

At the same time, I get where they’re coming from about feeling cramped. Sure, there’s a finite amount of time until they get the debt paid off, then they can loosen up. But when you’re in the thick of it, eighteen months can feel like eighteen years.

Finding Balance

The key, of course, is to find balance. And I think that’s what Wally and Jodie are trying to do.

They’re not trying to quit the race early. They don’t want to get behind on payments like they used to be. They don’t want to spend their emergency fund or to stop their debt snowball. What they want is to find a balance between today and tomorrow.

I didn’t mention it to them at the time, but I think they should look at the balanced money formula from Elizabeth Warren and Amelia Tyagi’s excellent All Your Worth.

The Balanced Money Formula

Warren and Tyagi argue that in order to achieve financial balance, your after-tax spending should be allocated like this:

  • At least 20% should go to Saving (which includes debt reduction).
  • No more than 50% should be allocated to Needs (which includes housing, utilities, healthcare, basic food, and basic clothing).
  • The rest — around 30% — should go to Wants (which is everything else).

Warren and Tyagi are adamant that less than half your budget should go to Needs. If you pour too much toward necessities, you don’t have room in your budget for fun or the future.

The authors are just as insistent that you should build room into your budget for Wants. “You should ask yourself,” they write, “are you making enough room for fun?”

Wally and Jodie aren’t spending much on Needs at the moment, but they’re not spending much on Wants either. They’ve been pumping most of their money into Saving (in the form of debt reduction). This is a Good Thing. But maybe it’s too much of a good thing?

Making a Plan

On Sunday morning, Wally sent me an email. After meeting with me, he and Jodie formulated a plan:

  • Until their wedding in September, they’ll keep their debt snowball where it is today: minimum payments plus the $438 they’ve freed from satisfied debts.
  • They’ll use an envelope-like budget for entertainment, travel, gifts, dates, and personal items.
  • With the rest of their monthly gap, they’ll create a dedicated savings account for their wedding. After the wedding, they’ll throw this money at debt.

This seems like a good, purposeful plan to me. It balances today and tomorrow. And you can be sure that I’ll follow up with them in the fall to make sure they’ve stuck to the plan — that they’ve remembered to prioritize their debt snowball again.

In the meantime, I sent Wally this Reddit post in which a young guy realized that by pushing for a 65% saving rate, he was miserable. He writes:

I’m currently shooting for a 55% saving rate and I cannot tell you how much more I enjoy life. I went from feeling like I couldn’t spend a dollar that wasn’t strictly budgeted, to travelling with friends, going to concerts, and enjoying the pleasures of life. That 10% made all the difference in the world

As for me, I still feel anxious. I’ve done a good job of controlling my small, everyday expenses this year, but the big stuff is still stressing me out. I need to heed my own advice and find better balance. That will come, I think, as I consciously make better decisions about future large expenses — and as I work to increase my own income.

Source: getrichslowly.org

Stop Comparing Yourself To Others And Live Your Own Life

Do you find yourself comparing yourself to others often? Here are reasons you should stop comparing yourself to others and start living your own life.I think we can probably all agree that your life might be different if you decided to stop comparing yourself to others.

Over the years, I’ve compared myself to others plenty of times. I’ve compared myself to others when it came to school, looks, money, and more. I know that sounds bad, but without acknowledging that, it would be hard to stop.

Many people compare themselves to others too.

In fact, everyone has done it at one point in their life.

People often compare themselves to others to determine how well they are doing in life and base their personal value on that. However, that usually doesn’t lead to feeling too good about yourself. Plus, who actually wants to judge themselves in a negative way?

While in some circumstances it can be motivating and inspiring to compare yourself to others, but in most circumstances it is negative and can lead to:

  • Debt, such as when you’re trying to keep up with the Joneses and buy the same expensive things that other people are buying.
  • A feeling of defeat, like when you feel that you aren’t as good as someone else.
  • Unhappiness, in that the process of comparing yourself to others is neverending.
  • A waste of time. If you spend all of your time comparing yourself to others, you will never have enough time to do what you really want. Comparing yourself to others can take valuable time and moments away.

To put it simply, by comparing yourself to others, you are holding yourself back.

Now, I know that just telling you to stop comparing yourself to others is easier said than done. In today’s world, with social media and how everything seems to be on full display for the world, it can be easy to compare yourself to others.

But, you need to stop doing it in a negative way.

By doing so, you’ll be able to move on with your life, reach your goals, be happy for others, and more.

Sure, you may not be able to reach a goal as quickly as someone else or it may require more hard work, but that doesn’t mean that everything is impossible for you. Everyone is on a different path, and there are people who are better or worse off than you.

Instead of comparing your path to those around you, you should focus on what you can do to make your dream a reality.

Here is how you can stop comparing yourself to others.

 

Understand why comparing yourself to others can hold you back.

The first step to stop comparing yourself to others is to realize that comparisons are often negative and that most of the time they do not help.

You should think about why you feel the need to compare yourself to others, and think of how that may be impacting you. By realizing these things, you’ll be able to move forward and stop wasting your time with comparisons.

As Theodore Roosevelt said, “Comparison is the thief of joy.”

If you want to learn how to feel better about yourself, this is so important!

 

Be happy for others.

Instead of feeling jealous or like it’s a competition between you and whoever you are comparing yourself to, you should just be happy for the success of others.

Good things can happen to other people, it doesn’t mean that your life is any less important. Plus, by being happy for others, you’ll learn to accept yourself and let more positivity into your life.

 

Be motivated, not competitive.

Instead of feeling jealous or competitive when comparing yourself to someone else, you should instead turn that emotion into inspiration and/or motivation.

The next time you find yourself comparing yourself to someone, you could think about how you could possibly do something similar (only if that’s what you truly want to do, of course). You can use their achievements as inspiration for your own life and goals.

As you can see, comparing yourself to someone else doesn’t have to be entirely bad, as long as you use that process for positives means.

 

Take a break from social media.

Social media can be fun and all, but for the most part, you are just seeing carefully selected pieces of someone’s life.

While that can be great, some people allow it to drag them down.

If you find yourself feeling jealous or negative when you are on social media, then you may want to take a break from it until you figure out how to turn that self-doubt into inspiration. This way, you can stop comparing yourself to others.

 

Be confident.

You may find yourself comparing yourself to others because you lack self confidence.

Some believe that confidence is something people are born with and that a person cannot learn how to be confident.

I used to feel the same way. While I’m not as confident as I would like to be, I am a fairly confident person and I believe that has helped me a lot in life. That sounds odd to say, but I am confident enough to say it!

I believe that gaining confidence can help you as well. Learning how to be confident can lead to getting the job you want, making more money, reaching your dreams, public speaking, meeting new people, networking, managing a business or employees, traveling the world, and more.

As you can see, gaining confidence can help a person in many, many different ways.

Plus, by being confident with yourself, you will learn how to stop comparing yourself to others because you’ll already believe in yourself.

Learn more at Be More Confident And Get What You Want In Life.

 

Take control of your finances.

Money is a leading cause of comparison.

Often, you may feel stuck with your current life because of some sort of financial reason. This happens to all of us.

And, this may lead to comparing yourself to others.

By paying off your debt, making more money, not living paycheck to paycheck, budgeting better, and more, you may feel free to reach for your dream life because you won’t feel controlled by your finances.

Related article:

  • 10 Great Ways To Gain Control Of Your Finances and Reach Financial Freedom
  • Are You Making Your Life Difficult? 18 Ideas To Simplify Your Life
  • How To Reach Your Goals

 

Be positive and happy with who you are.

Many people find themselves comparing themselves to others because they feel unlucky or sad about their situation.

Everyone has something that might make them sad, angry, scared, etc., and I understand that in some circumstances it can be quite difficult to see the positive or to be happy for yourself.

However, no matter how life may be going for you, I believe that a positive outlook can help to improve your life. It’s all about being grateful for what you already have.

Being negative causes limitations. If you think you cannot do something, then you most likely will not. Negative thoughts can make you feel stuck, they can make you feel like there is no way out of your problems, and that you have zero options.

On the other hand, being positive can help you realize that you are able to do things, that you are in control of your life, and that little things will not kill you. Being positive will also help you move on and deal with stressful situations better.

 

There is no such thing as the perfect life.

No one is perfect.

Once you realize that, you’ll find that comparing yourself to others is wasted time because everyone has a different path, including you.

Instead, you should accept your past and present, and realize that you can make changes for the future if you desire to do so.

Remember, you should never compare your beginning to someone else’s middle. You don’t know what they’ve been through, and instead you should be happy for other people’s accomplishments.

 

Think about your dream life.

To stop comparing yourself to others, you may want to think about your dream life. This may help you realize that everyone’s on a different path, and that you should be creating your own path to reach happiness and success.

You should think about different things such as:

  • What does it take to reach your dream life? Do you need to go to school? Pay off debt? Learn something new?
  • What will your action plan be?
  • Why is what you’re currently doing no longer working for you?
  • What excuses are you currently making?
  • What are the risks? What will you have to overcome to reach your dream life?
  • What are the positives of reaching your dream life? What is success to you?

Remember, don’t compare yourself with others!

How could you stop comparing yourself to others? How has it impacted your life?

The post Stop Comparing Yourself To Others And Live Your Own Life appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

Can Debt Collectors Call on Holidays?

A woman sits on a couch with her laptop in her lap while talking on her cell phone.

When you’re in debt, getting calls from debt collectors is common. But can debt collectors call on holidays? Although there are no regulations that specifically make calling on holidays illegal, there are regulations that prohibit debt collectors from contacting consumers at unusual or known inconvenient times. 

Find out more about the answer to this common question, and learn what you can do to take care of your debt for good. 

Can Debt Collectors Call on Holidays?

You probably don’t want a debt collector to call when you’re at home, spending a holiday with friends and family. The good news is there are protections in place to eliminate abusive and unfair debt collection practices.

The Fair Debt Collection Practices Act (FDCPA) notes that a debt collector may not communicate with a consumer “at any unusual time or place or a time or place known or which should be known to be inconvenient to the consumer.” With this regulation in mind, early mornings and late nights are not acceptable times of day for debt collectors to call.

Can creditors call on holidays? Because many holidays are public knowledge, you can generally expect that debt collectors won’t call at these times. With that being said, it’s important to note that not all localities, states or countries acknowledge the same holidays. 

Can bill collectors call on holidays? Technically, yes. But you can ask them to stop. 

Can a Debt Collector Contact You at Any Time?

No, they cannot. They can contact you, but they need to follow the regulations outlined in the FDCPA. If bill collectors are calling at unreasonable times of the day or continually call you, it may be considered harassment. It’s recommended that you document every date and time that a creditor calls so you have a record to use in case you seek legal counsel to deal with creditor harassment.

Can You Tell a Debt Collector to Stop Calling?

Yes, you can. If you don’t want a debt collector to call on holidays or you’re getting calls at unreasonable hours, you can send a letter requesting that they stop. Creditors must cease contacting you by phone once you make the request, but that doesn’t mean you don’t still owe the debt. They can continue to take other actions to collect it.

What Happens if You Ignore Debt Collectors?

You might be thinking of ignoring calls from debt collectors but worry about the consequences. When you ignore these calls, in some cases, nothing will happen. The creditor might stop reaching out.

But that’s not always the case. You might face negative consequences for ignoring these calls. 

If the debt is yours and you continue to ignore debt collections, you might face wage garnishment or a lawsuit. Your credit score and credit report can also take a hit. Though you shouldn’t have to take calls at unreasonable times or on holidays, if you owe a debt, you may want to work with the collection company and consider how you can pay it to avoid other negative consequences. 

How Can I Keep Debt Collectors From Interfering With Holidays?

If you’re getting calls from bill collectors and are worried about the possibility of them calling on holidays, you might be wondering what steps you can take. Here are some suggestions. 

Ask Them to Stop 

Consumers have rights, which are outlined by the FDCPA. One of them is that a debt collector must stop contacting you after you send a letter requesting them to do so. You’ll still be responsible for any debt you owe, but they must follow your request and stop reaching out. 

This needs to be done in writing, not by phone. Consider keeping a copy of the letter that you send for your records. You may also want to send the letter by certified mail so you know when the debt collector received it. 

Work Out a Payment Plan

If you want to lessen your financial stress and don’t want the collector to take further action, consider negotiating a repayment plan with your creditor. If you do this, make sure everything is outlined in writing. 

If the debt hasn’t gone to collections yet, the creditor may be willing to work with you. In some cases, creditors might waive fees, lower the total amount due or lower the interest rate if it means they can collect some of the debt from you. 

Consult an Attorney 

If a debt collector continues to call after you requested they stop or if you don’t owe the debt, consider contacting an attorney. One can advise you of your rights and any next steps you might want to take. 

Help Is Available 

No one wants to be harassed by creditors, and they shouldn’t be. Remember that regulations that are in place to protect consumers like you. Don’t be afraid to reach out to collectors to ask them to stop calling if it’s interfering with your happiness or day-to-day affairs. 

If you have unpaid debt and want to improve your credit situation, ExtraCredit can give you the tools to help you make positive changes. The service lets you track your credit score. It also offers a discount on credit repair services from one of the leaders in credit repair if that’s something you decide to pursue.

Sign up for ExtraCredit today!

The post Can Debt Collectors Call on Holidays? appeared first on Credit.com.

Source: credit.com