Straight Talk on Debt: 3 S's for Financial Success

We all want to be successful when it comes to our finances; but sometimes the path to success is just not that easy. We become overwhelmed with debt, forget to save for our future or spend without thinking about the consequences.

Being financially successful has a lot to do with your awareness of your financial situation. If you are not aware of how you are spending and saving your money you may wind up in debt and without savings for your future. By making a conscious effort to spend within your means and save for your future you just may be able to avoid debt altogether. Or, if you are already in debt and trying to get out remember the importance of financial awareness. Staying on track will help you to achieve financial freedom and the title, financial superstar.

This week some of my favorite personal finance experts share their tips for slaying debt, saving more, and spending wisely.

Slay Debt

• Who's Better At Managing Money? Men vs Women @TheDigeratiLife "I don't want to start a gender war, but I found several interesting surveys on finance that seem to be at odds with each other. I'm sure there are many more such reports and studies out there on this somewhat controversial subject, but allow me to present a sampling."
• Paying Off Debt as a Couple @Elle_CM "First off, I think it's great that the two of them have decided to work together on their finances and allocated $600/month to pay it down. It sounds simple, but family finances can be incredibly hard if the two of you aren't on the same page. My response was basically that getting rid of both of their debts is important for financial and relationship reasons."

• 5 Ways to Pay Down Your Debt (Without Living Like a Monk) @AllFinance "When you spend years treading water in a deep pool of credit card debt, escape can seem like a faraway dream. Sure, you could always solve the problem by selling off all your belongings, taking a vow of poverty and moving to a monastery high on the Tibetan plateau, but your spouse and your boss aren't going to like that very much."

Save More

• 4 Easy Ways to Start Saving Money @sooverdebt "For most of my life, I've struggled when it comes to saving money. I could spend it like nobody's business, but the thought of putting it in a safe place for the future just didn't compute. How could I afford to save money when I was broke? Never mind the fact that I was broke due to my frivolous spending; the reason wasn't important. All I knew was that saving money was way less exciting than buying stuff!"
• Simple Tips to Go Green, Reduce Energy and Save Money @applecsmith "Whether you're doing something small like riding your bike to work, or something bigger like installing solar panels on your home, we can all make changes to be more green. Here's a few simple ways to reduce energy, save money and help improve the environment.
• 4 Ways Your Bicycle Could Help You Earn Extra Income @Bucksome "Do you have a bicycle? If so, you have not only a mode of transportation but a means to boost your bottom line. Essentially, you can combine a love of fitness with a passion for making money all by pedaling your bike around town!"
• Save Money by Bundling Insurance Policies @freefrombroke "If you are working with multiple insurance firms you might be missing out on significant savings that you can get by bundling your insurance policies."
• Your 401K Match May Not Really Be Free Money @OneMoneyDesign "This study definitely made me think. I do feel that it is extremely important for an individual to take control of his/her future. I know many people live primarily on their Social Security checks after retiring which could lead to financial distress."　

Spend Wisely

• How to Spend Less on Gas @MoneyTalksCoach "Just recently the price of gas made another huge jump in North America. This has many people concerned. They are already reducing spending in so many areas of their lives and now they have to worry about paying more each week to fill their vehicle with gas."
• It's YARD SALE SEASON baby!!!! @budgetsaresexy "If you're into bargain hunting and old collectables, I HIGHLY recommend joining the searches on Saturday mornings. It's amazing what you can find out there if you look hard enough."
• How to Reign in Your Spending This Summer @AffordAnything "The kids are out of school, the weather is beautiful and families tend to spend more money. When summertime comes, there are many ways for families to have a good time."
• 3 Ways to Prevent a Vacation Hangover @drcabler "The kind of vacation hangover I'm talking about is a vacation DEBT hangover."

　Photo Credit

Suzanne Cramer   

Suzanne is a certified credit counselor and a Social Media Specialist for CareOne Debt Relief Services. Suzanne writes for Divorce, Debt and Finances and A Straight Talk on Debt. Follow Suzanne on Twitter @SuzanneCramer1  and @AskCareOne where she shares her insights on divorce and managing your finances.