Author Profile: John Schmoll

John Schmoll, John is the founder of FrugalRules.com, a personal finance blog dedicated to raising financial literacy and promoting freedom through frugality. In addition to being a Dad, MBA grad and professional blogger, John has more than 10 years of experience working within the financial services, insurance and banking industries. John has written extensively on finance, investing and credit card debt. His writing has appeared on sites such as US News & World Report and Yahoo Finance. When he is not busy talking about all things finance, John runs his owns marketing business with his wife.

Does Your Credit Card Company Love You?

What is the minimum payment on a credit card

Americans love credit cards. We love to use them to earn rewards, to transfer balances and much more. In fact, there were over 550 million credit cards in circulation, as of 2014, and that’s just the three major card providers. Have you ever stopped and asked if your credit card company loves you? I’m not asking if you’re a “good”…

7 Last Minute Things to Get Done Before The Start of Summer

I love the summer and getting extra time off, but there always seems to be something that gets overlooked. We all know Summer is coming but we allow procrastination to get the better of us. While not bad, per se, it can hinder us in the long run. The Summer time is when your expenses can skyrocket out of nowhere. Vacations, BBQs,…

When Should You Get A Secured Credit Card?

Paying off debt impacts you in many ways – both positive and negative emotions arise during your debt payoff journey. I remember when I was paying off debt I felt both shame and pride, frustration and gratitude, and a host of other emotions, including a lack of freedom. Those all tied back to seeing who was responsible for the situation….

Are You Dreading Your Credit Card Statements This Month?

It’s hard to believe, but the holiday season is over. A new year has started that’s full of opportunity. Whether you call them goals or New Year’s Resolutions, it’s exciting to consider the potential for 2016. There’s one small problem. You had a great Christmas, but it was funded largely on credit cards, thus the problem – the rolling in…

How to Break the Paycheck-to-Paycheck Cycle

We often think of people living paycheck-to-paycheck as those who earn a lower income or struggle with debt. It makes sense as living paycheck-to-paycheck results in little to no money left in the bank at the end of each month. Surprisingly, the former issue isn’t always the case. A recent survey conducted by CNBC reports that 25 percent of those…

4 Ways Frugality Is A Fool’s Errand

I discovered the wonders of frugality when I was paying off debt. In my previous life, I spent money on any whim that surfaced. Whether it was large or small, I made the purchase with little thought to how I could pay for it. After a few years, my spend crazy ways forced frugality into my life. All of a…

When Do You Cut The Cord on Your Adult Children?

As a parent of three young children, I want to do all I can to provide for them. That’s as simple as providing food and shelter to more long-lasting needs. In every case, we want to do all we can for our kids, which includes sacrificing our own needs or wants as parents. There comes a point, however, when you…

Why I’m Thankful I Had Credit Card Debt

What are you thankful for – family? Friends? Health? What about freedom or a great job? I too am thankful for all of those things. However, I also have something else I’m thankful for that might seem a little odd – credit card debt. Specifically, my credit card debt. Why would I be thankful for something that brought me to…

Just Got A Big Raise? Here’s How to Handle Your Extra Money

Getting a big raise can be both exciting and overwhelming. I remember my first significant pay increase. I switched jobs and instantly got a raise of somewhere between 25-30 percent. That may not be a lot to some, though to me it blew open various opportunities. Then the questions came – all primarily around how I should handle the extra…