A Debt Free Plan- Do You Have One?

Debt can rob us of so much more than money. It can cause problems in our personal relationships and at work. It can affect our health in a negative manner and it can affect our self-esteem. It can also rob us of hope and make us feel totally powerless. 

Being in debt can cause feelings of anger, anxiety, depression and shame to surface. The marital discord it causes can lead to a complete breakdown of a marriage. In some cases it can lead to the loss of a home or the loss of a job. 

It is a life disrupter and a bad character no matter how you look at it. 

If you are one of the many people affected by a mountain of debt then what you need is a plan to get out of it. If you do not have a debt free plan already then you need to create one right away! Every day counts. 

It is important for everyone to become educated about how to become debt free in their lives as financial problems can be extremely stressful on a person and can have a ripple effect in damaging their life as well as the lives of those who matter to them most.

In order to not sabotage your life with debt, make a plan for yourself to become debt free and work towards your goal a little at a time. Inch your way forward. Even if you are only crawling you are still moving forward. 

But how?

Do not allow debt to control how you live or what you do.

How do you accomplish this end? All you need to do is design an effective budget that allows you to live within your financial means. If you are not good at designing a household budget then find someone who can be of help to you in this area. Carefully review all of the options you have when it comes to budgeting and then be strict with yourself. Don’t overdo strict however as you still have a life to live! Figure out what your monthly bills are as well as your monthly expenses and then work from there.

Once you have found ways to cut back in your day-to-day life then find ways to reduce your debts on the road to becoming completely debt free.

Make it a personal goal of yours to not create any new debt for yourself. Save for big purchases instead of charging them on a credit card. In order to guarantee your success of becoming debt free, you must control your finances and not let them control you. You also must lower the number of debts you have. Put effort into staying within your household budget and put money away whenever it is possible to do so.

Learn to live as frugally as possible.    

             

Easier said than done? Perhaps but it is doable. 

Living a frugal life means finding ways to reduce your bills on a monthly basis. It also means discovering tips about how to save money and putting them to use in your household. That is what this site is all about. You came to the right place!  

If you take a serious look at what you do with the money you earn you should easily be able to find ways to cut expenses, save more and minimize your debts. For example, do you really need to eat out at a restaurant every Friday night? Really do you? 

If you enjoy renting movies over the weekend consider renting them from the public library for free instead of the DVD store in order to save yourself some hard earned cash. Take the money you saved and put it into an emergency fund and/or your savings account. 

  

You are on your way! 

Image: renjith krishnan / FreeDigitalPhotos.net