Welcome to our Hoyes Michalos Debt Free Digest where we round up personal finance topics from around the web to help you live, and remain, debt free.
With social media often showcasing only the best side of a person’s life, it’s no wonder we’re pressured to ‘keep up.’ In this month’s digest, we show you ways to tackle this fear of missing out and find balance.
How to Get Out of a Spending Spiral
Buying something new triggers a desire in us to acquire even more. If you buy a new home, you might decide you need new furniture. Find a great pair of pants and you think you need a new shirt or pair of shoes too.
This can lead to a spending spree and personal debt. Robert Gignac, author of Rich is a State of Mind, gives his recommendations on how to live happily with what we already have.
Good Reads From Around the Web
Free yourself from the grip of societal pressure to spend and look for ways to enhance the quality of your overall well-being. Linda and Charlie Bloom of Psychology Today share tips for how to be willing to not have it all.
Just because you qualify for a large loan, doesn’t mean you should buy too much house. Holly Johnson at The Simple Dollar explains why it’s important to actually buy a house for less than you can afford to lead a comfortable life.
We’re constantly told which milestone should be achieved by a certain age. This can be burdensome. Kiri Nowak at Learning People offers a different view: set your own goals because it’s OK to lead a different life.
An education is great. However, having debt is not. It’s especially troubling when you can’t find work after graduation.
Before attending a post-secondary program, do the math and create a plan for yourself.