Life Matters Blog | Money Matters, Life Matters

    Money Matters: How Can We Use the Snowball Effect in Personal Finance?

    Here in the Pacific Northwest, it is getting to be that time of year where it won’t be long before that flaky white stuff starts to fall. In my household, we always seem to announce the first snowflake we see. I prefer to watch it fall through the window, but my kids often let out a hoot then run to put on their shoes and head outside.

    Something I’ve always marvelled at is how well snow sticks to itself when it's the perfect kind for building snowmen. It’s amazing how quickly a small ball, barely larger than your fist, is suddenly three feet tall and there’s green grass peeking through the snow again. 

    I recently paid off one of my loans (yay!). This caused me to reflect on how I could put the money I would normally use to make that bi-weekly loan payment toward another loan and effectively increase my payments on that second loan. I call this the snowball effect, and it’s essentially the reverse of how I got into debt in the first place.   

    You see, for me, once I had a big ball of debt, it didn’t matter as much psychologically if I went deeper into debt. Once I got over the initial feelings of shame and disappointment in myself for the first bill payment I missed and the first time I didn’t pay off a credit card in full at the end of the month, it became easy for me to keep missing payments and living on credit as long as I could. Until all the credit was maxed out, of course. Then I was in even bigger trouble than before.

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    Life Matters Blog | Money Matters, Life Matters

    Money Matters: Are You Making Progress Toward Your Financial Goals?

    We are officially over two-thirds of the way through 2021, and the fall is a great time to check-in on your financial goals. Even if you didn’t set any goals at the beginning of the year, taking a...

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    Life Matters Blog | Money Matters, Life Matters

    Money Matters: Personal Finance Books You Need to Read

    A lack of financial literacy is a major cause of most financial and money problems. Personal finance is primarily concerned with achieving personal financial objectives, such as setting aside...

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    Life Matters Blog | Money Matters, Life Matters

    Money Matters: Do you feel financially secure?

    How To Create Financial Security Today

    I’ve been thinking about security a lot lately, although maybe not in the way you might think. After a crazy heat wave earlier this summer, the area where I...

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    Life Matters Blog | Money Matters, Life Matters

    Money Matters - What if You're a Victim of Fraud?

    If you read the title of this post and wondered what journaling has to do with being a victim of fraud, I can attest that it is a very important step in the healing process. Often, victims of...

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    Life Matters Blog | Money Matters, Life Matters

    Money Matters - How Can You Change Your Financial Habits?

    The toughest part of creating healthy new habits to replace the old habits that are no longer serving us well is allowing ourselves to change. As Mari discusses in 7 Days to Money Mastery, making...

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    Life Matters Blog | Money Matters, Life Matters

    Money Matters - Do You Need a Money Checkup?

    I recently caught myself having a pity party for my lack of funds and realized my attitude was only making the situation worse. It was to the point where I found myself saying things like, “What’s...

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    Life Matters Blog | Money Matters, Life Matters

    Money Matters: Why is Money an Emotionally Charged Topic?

    Today’s post is something I’ve been thinking about a lot lately. I find it interesting that, like many taboo topics, discussions about money can get heated rather quickly. The topic of money can...

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    Life Matters Blog | Money Matters, Life Matters

    Money Matters: How to Start Over With Your Personal Finances

    The good news when it comes to your personal finances is that you have the opportunity to start over whenever you want. Sometimes starting over means rebuilding after claiming bankruptcy, but it...

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