Living Debt Free Today
It’s a very easy thing to continually use your credit cards without thinking twice about the fact you’re not spending your own money but that you’re spending someone else’s money – which you will have to pay back, with interest. Soon, without even realising it, you will be in debt up to your eyes, so why not try to become debt free today, without waiting for any drastic problems to arise.
There are many things that you can do to help you become debt free today, and it doesn’t even matter whether you are in debt to every creditor on the face of the planet! It might sound simplistic and naive, but if you truly want to become debt free, you can do it. It’s as simple as that (sort of!). There will of course be certain things you need to do in order to start the process of becoming debt free today, but unless you start doing these things, you will never see the end of your debts.
So to start becoming debt free today, you will first want to go about setting a budget for yourself. Although that might sound horrific to you right now, you will be glad that you made the effort to do so, later on. And the easiest way to set a budget for yourself is to take your total income, and subtract the necessary amount for taxes. This is the money you have available to you on a monthly basis and to start being debt free today you will have to learn to live within its constraints.
This means that if you spend using your credit card, you will need to have that money available to you by the end of the month to pay off your card so that you aren’t accumulating debt, and so that you aren’t paying interest rates on your purchases either. And remember that your budget for the month is for everything – groceries, utility bills, credit card bills, loans, any support (spousal, child etc) that you need to pay, and for whatever else it is that you need to spend money on during that month.
When you’re setting your budget, it is always best if you can draw up at least a rough estimate of the things that you will need to spend on, and how much you will have to spend for the month. This will give you a good idea of where your money is going, and how. And as the month progresses, you can keep a journal, or a log on what you spent money on, so that you can get a more accurate picture of your spending habits.
The best thing that you can do to become debt free today however, is to only buy what you need when you need it, don’t go out of your way for a bargain that you might not need; leave your credit cards at home; pay your bills on time; and spend only what you have on hand.
money saving tips/facts
Stop smoking.
If you have a pack a day habit you are spending somewhere in the neighborhood of $1,800 a year. That is about $5 a day and money that could go into your savings. On top of that, you will save on your health insurance premiums and life insurance, not to mention health care as well.
money saving tips/facts
Insure for less.
Going with a low price insurer for your vehicle can save you hundreds of dollars each year. Your state insurance department can provide you with a publication that shows the typical prices that different companies charge. Compare and find one that will save you money.
money saving tips/facts
Consider mail order pharmacies.
If you have a medication that you must take for a long time, mail order pharmacies may be your best bet. They are often less expensive than their brick and mortar counterparts.
money saving tips/facts
Thrift stores rock!
The average person spends approximately $1,750 on clothing each year. By shopping at thrift stores, consignment shops and auctions, you can cut this figure down by about half.