Broke and Fabulous: 10 Ways to Stop Living Beyond Your Means
Lessons to learn from Tisha and Duane’s bankruptcy.
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Be Smarter With Your Coin - Recently, Tisha Campbell-Martin and her hubby Duane Martin filed for bankruptcy, claiming that they only have $200 to their name. While they are celebs, there are some lessons to be learned on how to live among your means and not get buck wild with your spending. Ready to learn? By Kellee Terrell(Photo: F.Sadou/AdMedia/AdMedia/Corbis)
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Start Reevaluating Your Values - First, you have to sit and ask yourself what matters to you: Having fabulous clothes or money in the bank? And many of us can’t always have both. Remember that clothes and things don’t make you who you are — it’s what's on the inside. (Photo: Corbis)
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Stop Worrying About What Celebs Have - In this celebrity-obsessed world, it’s hard to not get caught up in what Kim K, Bey and Nicki have. Who doesn’t want fancy things? But realize that they are millionaires and sadly you are not, at least not right now. So stop looking to what the haves have and focus on being more grateful for what you got. (Photo: Getty Images)
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Start Asking Yourself Tough Questions - This goes beyond assessing your values. Is your rent too high? Are your student loans excruciating? Is your interest on your credit cards too high or is your car insurance making you broke? Do you eat out too much? Do the work and figure out what is sucking you financially dry so that you can start changing what you have control over. (Photo: Jamie Grill/Blend Images/Corbis)
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Stop Spending More Than You’re Bringing In - Tisha and Duane only make $7500 a month, but were spending almost $17,000 a month. That deficit is what will mess you up and put you further into debt each month (and possibly having to use loans and credit cards to make up for it). That adds up over time. Which leads us to…(Photo: JGI/Jamie Grill/Blend Images/Corbis)
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