Rebel Finance School Week 4 Homework

 Dear Reader,

Time for Week 4!

1. Make a plan of ATTACK for your debt. 
1. I'm not really in a rush to pay off my family loans (one to my partner and one to my parents).
2. If you have student loans...
1. No student loans.
3. If you have kids or any other younger people in your lives, think about how to help them avoid debt.
1. Explain how quickly credit cards can snowball. Encourage them not to get into high interest debt.
4. Have you done the homework from the first 3 weeks?
   
1. Yes.
5. Come up with ways to increase the gap between your income and your expenses. On the expenses side, one way of doing this is to go through each of your spending categories and see if there’s anything you could cut. Remember, this is not about deprivation this is about conscious expenditure.​
1. I think I'm doing pretty well right now.

Week 4 Discussion Questions

Company strategies for putting you in debt

• How have you fallen for these in the past? Yes. Limited time/quantity, buy now, price will be increasing soon.
• What have you learned? Never buy more than you can afford. Sometimes buy much less than you can afford.
• How aware are you of these tactics? Fairly aware.
• How aware are your family of these tactics? Partner - aware, I think. Children - too little.

Our strategies for putting ourselves into debt

• What are your spending strategies? I spend typically on food, vacations, and my kids. Also on experiences.
• What do you say to yourself before or as you are spending money? Is this expense worth it? Will this expense save me time, money, future grief, or will it help ensure my safety?
• How do you use credit cards? Or are they using you? I think I am using credit cards sensibly. I only have one and I pay it off in full every month.
• How are you going to change your spending strategies starting today? Be a little bit more careful on what I spend on. Examples of things I haven't bought yet: future vacations, future tours, expensive concert tickets, virtual tickets for my mobile game, Kickstarter for Kora Donuts, etc. etc.

Debt recap

• What have you learnt about debt? Only charge what you can afford to pay off.
• How will you share this with the next generation? I want to teach my kids that debt is typically bad. I want to help pay for their college degrees.
• What’s your biggest take away from the debt attack strategy? Focus on paying off debt. Make it more of a priority.

Thank you for reading.

I remain,

Into the FIRE