Living a debt
free life is the
dream of just
about everyone.
For those who
are now living a
life without
debts, you are
truly blessed.
Did you know
that in 2005 the
average American
carried
approximately
$8,000 in credit
card debt? Most
everyone is
living from
payday to
payday. If they
miss one or two
paychecks they
are most likely
headed to
bankruptcy.
Living a debt
free life is not
easy, but it is
one that we can
all have with
some discipline
and effort on
our part. Here
are some quick
tips on how to
get out from
under that
mountain of debt
in your life and
begin to get on
the road to a
debt free
lifestyle.
Getting
Started
When you are
just beginning
to get out of
debt remember to
take things
one-step at a
time. It will
not happen
overnight. You
can't do
everything all
at once. Pick
out one bill
each month and
pay more on it,
or pay it off
entirely. By
taking this
approach you
won't burn
yourself out. It
may seem at
times like
you're not
getting
anywhere, but
you really are.
Think of this in
the same context
as dieting. You
can't lose 25
pounds in a
week. It takes
time, but if you
stick with your
diet, you will
lose the weight.
Goals
Setting goals
and making a
commitment to
sticking to
them, are a big
key to living a
debt free
lifestyle. Take
the time to sit
down and write
out your
financial goals.
Let's use
grocery shopping
as an example.
Start by
deciding on a
weekly grocery
budget. You then
make your
grocery list out
for the week,
clip coupons and
only take enough
money to cover
what you
budgeted. You
will be amazed
at the results.
People waste
so much more
money on things
at the store
they never
intended to buy
to start with.
Grocery stores
make this so
easy to do.
Another good
point is to eat
out less. Cook
at home more
often and spend
time together as
a family. Make
up a weekly
dinner menu and
stick to it.
Eating at home
more and eating
out less, will
help you save
more of your
money.
Make Small
Sacrifices
In order to
become debt free
you're going to
have to be
willing to make
some sacrifices.
For example, you
can simply bring
your lunch to
work instead of
going out to the
local burger
joint every day.
By just doing
this you can
save a great
deal of money
each week. This
is just one
example of many
different things
you can do to
save money every
month. Sit down
with your spouse
and make a list
of your own.
This can help
you become debt
free in a much
shorter amount
of time.
Put Away The
Credit Cards
The single
biggest key to
becoming debt
free is to put
away all the
credit cards.
Instead of
seeing something
you want and
putting it on a
charge card,
save the cash
for it. You'll
be surprised at
how this will
change your
priorities. It
will eliminate a
lot of the
impulse buying.
You feel like
you have earned
it by saving the
cash and paying
for it.
You may never
be able to
become totally
debt free, but
by following
some of these
tips you can
take a very
large step
towards it. Have
patience, stick
to your plan and
before you know
it you'll be in
much better
financial shape.
