Arrest Your Debt, a financial blog initiated by Ryan Luke, aims at providing unmistakable hacks to maintain a healthy saving and expenditure ratio at the end of the month. It also focuses on certain rules that an individual needs to keep in mind before investing for retirement. Along with this, they have come up with ways that have supposedly overshadowed the age-old methods of — Dave Ramsey’s 7 Baby Steps.
Luke has introduced these methods keeping in mind the importance of a budget in creating a life without debts and the discomfort it carries with it. He is aware that the term budget has a negative connotation with it but he clears the air, saying, “having a monthly budget doesn’t mean that you are no longer allowed to have fun, rather it means that you can have fun today and still be sure about your future”.
Arrest Your Debt has introduced 4 unique ways to create a budget without being too harsh on the expenses. The four steps are:
Step 1: Writing down the net income – it is essential to have an exact estimation of the total income, even the decimal part needs to be mentioned.
Step 2 – Note down the monthly expenses accurately without any fail. This is important to maintain a structure and gives an idea to the individual about his rate of expenditure and warns him if he is going overboard with his expenses.
Step 3 – After listing down the monthly expenses, it is important for an individual to ponder over the expenses that can be cut out from the list to avoid future debts. Paying off debts is important to keep the purpose of the budget in motion.
Step 4 - Making investment decisions judiciously is crucial because it helps in creating a goal. It not only checks and limits the expenditures but also creates accountability and responsibility in regards to money.
As Ryan Luke says, “Your budget is an act of limiting your expenditures to provoke and persuade you to invest in something bigger that would build your future in a meaningful way”.
About the company:
Arrest Your Debt, a financial blog that first started its journey with a book titled, "Arrest Your Debt" has now reached new heights. They have been featured on some premiere magazines like Forbes, MarketWatch and Experian because of their massive popularity among the groups who find it difficult to trust someone about their money. Ryan Luke with his blog has made personal finance easier to understand for those who do not trust financial advisors, as they often give out financial misinformation. Luke has even introduced new tools like his Free Budget Printable and Budgets for Beginners for a hassle-free experience.
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