You guys know me as the founder of Broke on Purpose. What you don’t know is that I know all about the cycle of debt. I’ve field calls from debt collectors calling our house all times of the day. I’ve bounced a check a time or two. I’ve even contemplated bankruptcy until I realized it didn’t whip out student loan debt. I did everything I could to try and get the debt off my back and nothing worked until I decided to face it head on. I decided that I would break the cycle of debt in my family tree…

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  First off Happy New Year! Wow, I can’t believe it is 2016. This is the first time I’ve been super pumped for a new year. So many great things happened for us in 2015 one of them being Broke on Purpose. I started Broke on Purpose when I realized we were in deep trouble financially if we didn’t change our habits. What started off as a challenge to myself turned into something so much bigger than I imagined. I wrote an Ebook that you can pick up (here), and I’ve been meeting with some amazing people through my Broke…

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  Money Challenges are a great way to motivate yourself to save money and get out of debt throughout the whole year. They range from the simple task of putting extra change a designated savings jar or to saving up $5000 towards a down payment on a house. The type of money challenge you choose is going to be largely based on your goals and financial ability, but if you stick with it the entire year you will see amazing benefits and hopefully learn healthy money habits. Below are the four money challenges you should probably try this year. The…

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The new year is a great time to sit down and start planning out your financial success for the upcoming year. Too often do we sit down and make new year’s resolutions only to find that we’ve abandoned them before March is over. This year Broke on Purpose is here to help you keep your financial goals whether they be big or small. This easy to follow 2016 Financial Checklist is the perfect thing to help you initiate your financial journey. Print it out and put it on your refrigerator, stick it in your day planner, or wherever you sit…

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One of the ways that credit cards and financing companies trick us into giving away more money than we intend is by using a tactic called “The Minimum Payment”. Simply put, the minimum payment is the lowest amount of money we can pay to keep our names in good standing with those who loaned us the money in the first place. The amount of money you pay towards a minimum payment will range based on the interest and the amount of money borrowed or financed with most payments starting as low as $15. Not surprisingly these minimum payments could be…

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