9 responses

  1. Lisa @ Cents To Save
    November 1, 2010

    I am not big on spreadsheets… BUT… I do use a legal size yellow pad( actually it is pink) to monitor what my expenses are. I write down my bills and keep track of what is going out and what is coming in. I also look for areas to cut back on. I just recently switched cable companies… and will save about 50 dollars a month.

    Reply

    • Khaleef Crumbley
      November 2, 2010

      I think that’s great! It doesn’t have to be on a spreadsheet, just somewhere that will actually cause you to take action if you find something wrong!

      Thanks for the comment!

      Reply

  2. Richard Hurt
    September 28, 2010

    I agree with your comment on attacking “interest heavy debt first”. So many tout the snowball approach of attacking small debt first and then working up from there. But I believe attacking the high interest debt first has more impact on saving money and debt reduction. Thanks for the insight.

    Reply

    • Khaleef Crumbley
      September 28, 2010

      I thought he made a good point as well. Honestly, I had never heard of anyone pushing the idea of paying the smallest debt first until I started reading personal finance blogs!

      I will always advise someone to pay off the highest interest card first because it makes the most financial and mathematical sense!

      Thanks for stopping by!

      Reply

  3. Glass Is Half
    September 28, 2010

    A business analogy that is pretty apt is you cannot fix what you cannot measure. I think you’ve hit the same nail on the head here too as if you don’t know where your money is going then you are never going to be able to get out of that debt prison that you’ve dug for yourself. Its absolutely essential that you track your expenses (& incomes) and see where your money is being spent … more often than not, some small simple changes are all that’s required to change your financial situation.

    Reply

    • Khaleef Crumbley
      September 28, 2010

      I agree that this same concept applies in business as well. I know of many people who refuse to do a budget, or examine their expenses because they are afraid to face the reality of their negative decisions!

      Reply

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