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Showing posts from March, 2014

Finance Fridays: The Closet Diet

I do not diet or believe that diets work. I believe in changes in lifestyle and eating habits. The Closet Diet is a new and improved closet. A fresh spin on you everyday fashion. And all this coming from a gal with college t-shirts from 11 years ago!

1. Sort t-shirts, jeans, dress pants, blouses, sweaters, tank tops, dresses and blazers. Jeans are for super casual wear, not work. Keep just 3-5 pairs of jeans.
2. Go through each pile and ask yourself if you have worn it in 3 months. If not, start a donation pile and place these items there. Focus on keeping simple and classic pieces, preferably solid colored pieces. Keep one or two fun print tops for special occasions.
3. Have a small cheat bin. Keep some items that you like wearing around the house, or that are sentimental to you.
4. BUY NEW CLOTHES. You need to refresh your closet with new STAPLE pieces:     - black tank top     - white tank top     - white button-down ironed shirt with long sleeves     - black trousers     - black pencil ski…

Finance Fridays: Debt-Free in 30

To make something a habit, you should do it for a solid three months. 

You only need 30 days to live a debt-free life
I know what it's like it avoid collector phone calls and not open bills in the mail. Within 30 days, you can do the following:
1. Open ever bill that is unopened.
2. Hole punch each bill and place them in one large binder. This will be your finance binder. Get organized!
3. Sort each bill by 1) company and then 2) date due with the most recent in front.
4. Draft a letter to each creditor. There are hundreds of sample letters (templates) available online. I used the template in one of Suze Orman's books, which I borrowed from the library. The most important elements to any letter: your name, address, phone number, account number, signature, and amount you are willing to pay each month.
5. Include a "good faith" check or money order with the letter when you send it. Make sure to mail it from the post office with a confirmation request. This will cost $…