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do you have budget or debt reduction questions?
December 27th, 2013     |    Life

doyouhavebudgetordebtreductionquestionsSorry for the silence this week and a belated Merry Christmas to you! I have been spending time at my parent’s suburban Philly house with Mr. Lively and my brothers for the past few days.

Now that I’m back, I have a podcast taping in just a few hours (1p CST to be exact) with Eric Williams, author of It’s Your Money.

A few years back, Eric and his wife, Kelsey, eliminated almost $40,000 in debt in just under two years(!). Now, they share their hard-learned financial lessons and advice along with other thoughts on intentional living on their blog, Words of Williams.

If you have any questions for Eric about finance or budgeting (debt reduction or otherwise), please leave it in the comments below!

 

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  • Kristin

    If it fits into your conversation, I am curious about reducing student loan debt. I have a hefty amount to pay off and most of it is private loans, so government consolidation programs are out of the question for me. Are there any other programs or options out there? or a more efficient plan of attack to conquer that debt?

    Thanks so much!

  • Hi Kristin, thank you for your question! I will run it by Eric and see if he has any suggestions (if he does, we’ll address it in the podcast). : )

  • Amanda Risius

    I’m also curious to known the best way to approach paying student loans after graduation (I graduate this May). How much of my income should go towards loans, savings, etc. Is there anything I can do now or creative ways to lessen my debt? Also, how did they repay $40,000 in debt in under two years?! Is it based solely off amount of income? Thank you! Looking forward to the podcast.

  • Thanks for your question!

  • Thanks for this question, Amanda!

    We will definitely be covering what methods they used to reduce the debt, and you can also find this out in more detail in his book, too, if you are interested in more about their story after the podcast airs in January. : )

  • I’m curious what his take is on how to approach savings when you don’t have much buffer, want to start a family, and still want to have fun in life (go on the occasional vacation, go out to dinner once a week, etc)? I have a hard time looking toward our big scary financial goals (like saving for a down payment on a house) and wondering how in the heck we’re ever going to be able to save when we have these other things going on? I guess it’s really a matter of balancing the present needs with the future, but it seems nearly impossible at the moment.

  • kyidkim

    I, too, am preparing to pay off student loans! I have a plan in place, but am worried about maintaining my motivation. What kept Eric and Kelsey focused on putting extra money towards debt when there are so many more exciting things to spend on?

  • kyidkim

    And another question! What are their thoughts on charitable giving while in debt? One blog I read describes it as giving away borrowed money, but I still feel a need to support causes that are near to my heart.

  • Thanks, Lauren! We didn’t get this question in time to add it to the podcast so Eric is going to address it in the show notes for his episode in January. : )

  • Thanks, hun! We didn’t get this question in time for the taping but Eric will address it in the show notes for his episode in January. : )

  • He’ll address this one, too!

  • Great to hear! Thanks!

  • Sam

    I think this is going to be a very helpful podcast for a lot of people so thank you, Jess!

    My question is, are there any tips for people struggling with shopping problems? How do you break out of the cycle of spending more than you have?

  • Hey Jess! My question is this – I’m in the market to buy a used car. Being a freelancer, I think leasing is the best option for me, but are there other factors I should keep in mind as I budget for a car?

  • Thanks for your question, Sam! I’ll share it with Eric.

  • Thanks for your question, Melissa! The show already aired, but I’ll see if Eric is up for answering this question in the show notes. : )

  • Kacia

    Hi Jess! Is there an archive somewhere of the podcast? I’d love to listen in 🙂

  • Hi Kacia, the podcast will be launching in mid-January. Stay tuned for more details!

  • Kacia

    Excellent, thanks! (By the way: SUPER impressed by the prompt replies to all your comments!)

  • Thanks! I do my best (and I might have a little addiction). ; )

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