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From Frugal to Free
Frugal adventures on the road to financial freedom.

debt avalanche method

  • Personal Finance

Don’t Use Your 401K to Pay Off Debt

Posted on May 29, 2019May 21, 2019by Kathryn Vercillo

People often move money around especially to pay off debt. This can make a lot of sense. However, be careful about the choices that you make when shifting your money. For example, don’t use your 401K to pay debt. Virtual Money Makes Moving Money Easy I rarely carry cash. I don’t write checks. When people […]

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  • Personal Finance

The ‘Debt Avalanche’ Method is Effing Amazing

Posted on October 19, 2015February 5, 2017by Kara

A childhood friend of mine has been in town these past four days and it’s been wonderful to reconnect as adults. I’ve been in Austin for three years and have a great circle of friends here but this girl has known me since ballet class at age 6. It’s a different kind of relationship when […]

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Frugal’s Financial Guidelines

Start with these simple guidelines to save money and invest in your future:

  1. Write down own the top three reasons you want to save money. Post it as a reminder to keep on track with your goals.
  2. Learn to budget. Then do it, diligently.
  3. Cut costs. Reduce spending by 10% across all categories.
  4. Direct deposit 10% of every paycheck directly into savings. Build up an emergency savings fun with a minimum of $1000. Aim for six months of living expenses.
  5. Maximize retirement savings. Contribute as much as you can, especially if you have an employer-matching plan.
  6. Begin investing in small ways. Use apps to begin investing with just a tiny amount of money. Learn how it works.
  7. Build credit wisely. Use a credit card for monthly expenses. Pay it off on time every month.
  8. Learn to communicate about money. With everyone. The better you get at talking about money, the more you’ll set yourself up for financial success in all areas of your life.

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