Category: Life hacks

9 Debt Payoff Hacks that Work and 3 that Don’t

 

payoff debt pen

These are 9 debt payoff hacks that actually work.

I did some research before writing this post.  I’m always horrified whenever I realize the amount of advice at the top positions in google search results that is bad.  The subject of paying off debt is no exception to this rule.

More on that later.

Every blogger writes an obligatory post on how they cut corners to payoff debt.  This is my attempt at that.  This is an updated post.  Originally, this was my third blog post.  It’s now reformatted.

Another thing about this research I did.  The stuff that tends to hold a lot of the top positions is easy Band-Aid solutions to paying off debt that doesn’t involve actually solving your problem.

It’s usually a matter of taking out a new loan or opening up a new credit card to transfer debt from one location to another.  You might save money on interest, but you aren’t fixing your problem.

These are ways to payoff debt without earning any money.  All your doing is replacing old debt with new.

The debt is still there!

The debt payoff hacks I talk about actually work.  They involve lifestyle changes and changes in thinking that enable you to payoff the debt you owe.

Nothing else will work.

It’s just clickbait.

Any success I’ve had with paying off debt is 99% attributable to my wife. She is Chinese and grew up in Taiwan. She has no formal training in investments or finance. She has never read a personal finance book in her life. But she came from a family and, to a certain extent, a society that frowns on debt.

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Should You Go to the Military Influencer Conference Next Year?

For the past two years, I’ve attended FINCON.  It’s a conference with about 2000+ attendees geared at financial media.  I’m an active duty airmen who has a small real estate blog, so Curtez Riggs suggested I attend the first Military Influencer Conference taking place at the same location as FINCON a few days before it begins.

Two for one!

It was hard to know how this new conference would turn out, being in it’s first year and all.  Lots of things were up in the air.

  • Would it have enough attendees?
  • Would it attract big enough talent? (speakers)
  • Big enough money? (sponsors)
  • Networking opportunities?
  • Well organized?

I’m happy to report, Hell yes on all fronts!!!

The conference was a massive success and everyone that attended had glowing reviews. Everything was amazing.   Here are some of the things that stuck out to me:

It started off with a keynote by Emily Cavness, CEO of Sword & Plough.  She came up with an idea for making bags and other things out of military surplus items just as she was coming into the army.  It’s became a massively successful business and her insights and story was amazing!

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What the Hell is Chautauqua?

In October 2016, I returned from a week in Ecuador attending Chautauqua. It was a life-changing experience.

          Why would a military guy who lives in Germany fly all the way to Ecuador for a week?

Why of course, to attend a financial independence/retire early (FIRE) retreat hosted by three prominent bloggers!

Jim Collins, father of the world-famous Stock Series, organized this amazing event. There were three different weeks of Chautauqua this year, each hosted by a slightly different cast of famous bloggers.

Chautauqua has been going on for several years now, and seem to be gaining in popularity. These things sell out faster than a Taylor Swift concert!!

On the week I went, it was Jim Collins himself, Paula Pant, and the notorious Mr. Money Mustache.

Kind of awesome for me, as these are the three bloggers I admire most.

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Why I’m reading a Japanese book about tidying up

I just read an AMAZING book written by a 31- year old Japanese woman.  The book happens to be a New York Bestseller.

The author’s name is Marie Kondo, and she’s been obsessed with organizing ever since she was 5 years old.

marie-kondo

I think I have a crush on her.

          Rich, what do you care about organizing?

I’m always looking for better ways to organize my life.

          What’s so special about this particular way?

The book is called The Life-changing magic of tidying up.

marie-kondos-the-magical-art-of-tidying-up
Essentially, it’s about throwing away stuff you don’t use anymore, and then reorganizing your house.

          I do that every few years, big deal!!!

I bet you don’t do it like she does!

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