How about getting out of debt?

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Prisoner of debt

Here we are, a couple of weeks into the new year. Now is when we’re over the holiday stress, and the sting on our budget.

Now we can really start to focus on our resolutions, or goals, or making this a better year – however you want to look at it.

Is getting out of debt on your list?

This is a great time to hit it. The economy is in a good place. Who knows how long it will last. Its a good time to put a dent in that debt.

And as long as you’re gonna have all your papers and receipts out for taxes anyway – we can take a real look at just where we’re at.

One thing you might want to consider is transferring higher interest balances onto a no interest card. You’ll have a year to pay it down before the interest skyrockets.

Next, cut up all but one of your cards. You can’t keep adding to your debt. The buck stops here!

Get used to living within your means. I know it takes some getting used to. Been there! But you know what? It feels really good when you save up to buy something and pay for it in cash.

My method for paying down is a little different from most. This way is easier to stick to because you feel your accomplishment. Let me explain…

First, take your lowest balance. If you can pay it off – do. If not, make double payments. Pay your usual amounts on your other balances.

Once that one is paid off, take the total amount you were paying and add it to the next lowest balance so you are paying the minimum payment plus what you were paying on the account you just paid off.

Once that one is paid off, take this total amount and add it to the next balance – and so on.

Cut the car leases.

Car leasing is one of the worst ideas for financial well being. You will never own a car, and you will never stop paying.

I haven’t had a car payment in 10 years. The car I have now I bought used and paid off in 3 years. I truly dread when I’ll have to buy a new car.

But, you can pick up one of those cars coming off a lease in good shape with relatively low miles.

Which feels better – a new car every 3 years and constant payments, or no car payment?

Cut the cable

Lots of people are cutting the cable bill. Cable companies have priced themselves right out of the market. There are so many less expensive options these days.

Think about purchases

Let’s face it – we waste a lot of money.

Before you buy something, ask yourself –

Do you need it?

Have you shopped for the best price?

Will you be happy with your purchase 30 days from now? How many things have you bought and never used?

Society tries to brainwash us all into living on credit. Buy, buy, buy… You’ve got to have 5 TVs, a new car, and the newest $2k phone to be happy, right?

Actually, not having all those bills will make you much happier.

Learn to love the thrill of the hunt.

I love finding the best deal. Its kind of a challenge. Make it a game. I really try to never pay full price. I got a $400 Calvin Klein coat for like 30 bucks. It was February in an outlet store. Now that is fun!

Eat at Home

People spend thousands of dollars a year eating out. A lot of these people are spending a ton of money on diet products. Then there are the health costs that come with eating a poor diet.

People think cooking at home is too hard, costs too much, and takes too long. I’m here to tell you that is not true. As a working single mom, I needed meals that were fast,¬†inexpensive and tasted great. I share my recipes in the members area. You should try a free month

Well only if you want a clean house, a healthy body, great meals, to lose weight, find motivation, save a bunch of money …

 

 

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