What Would It Mean To You To Become Debt Free?
Would it give you a sense of relief, and freedom, that you weren’t living with a figurative gun to your head?
Would it mean, that you could easily spend your available money, on the things you needed, and wanted, without guilt?
Think about what becoming debt free, would mean to you.
Keep that image in your head, of what becoming debt free would mean, because you are about to make some hard choices. If you don’t keep the freedom image in your mind, you may want to give up, when it seems that you are the only person you know, who is not going on a cruise this year, or who doesn’t upgrade to a 60 inch plasma television.
We live in a society, where we buy now, and pay later. Unfortunately, that has lead to a situation where everyone is in debt. The recent constriction in the credit markets has meant that people who used to be able to get easy credit, are having to tighten their budgets.
Becoming debt free, starts with taking stock of what you have, and what you owe. Your first order of business, is to start living within your means.
You must make the minimum payments on your debts, as well as provide food, shelter, and clothing for your family. There are other essentials, such as transportation, and utilities.
But within each of these categories, there are ways to cut the fat out of your budget. For instance, most families could half their food budget, just by cutting out the restaurant meals, and pre-packaged foods, at the grocery store. Sure, this means actually cooking homemade meals. But I’ll bet you find that the meals you make at home, are far more nutritious than the ones you’ve been eating. And, they’ll keep you within your budget, too.
While cell phones are certainly a necessity today, having the package with unlimited calling, and texts is not. Having cell phones for emergencies, and quick calls is one thing, having cell phones as an appendage to the ear, is another.
Even utility bills can be slashed, if you are willing to open the windows, use fans, and cut the air conditioning in the summer, and use space heaters, and wear sweaters instead of central heat in the winter. These choices are smarter for the environment, as well.
Will you feel some measure of loss, and the pain of not wanting to sacrifice the luxuries of life, while becoming debt free? That is inevitable. Your kids may not quickly adjust to their new, more Spartan lifestyle. They may not understand why you’re no longer handing them $20 when they want it.
But, over time, you can teach them good habits about how to handle money matters, in a more responsible way. You can show them with your own actions, that being financially responsible, is emotionally a healthier choice. By compensating for “things”, with quality time with them, you will win them over.
So, keep in mind, what becoming debt free, really means to you. It will make the hard choices you are about to make, seem worth it all.
Would it give you a sense of relief, and freedom, that you weren’t living with a figurative gun to your head?
Would it mean, that you could easily spend your available money, on the things you needed, and wanted, without guilt?
Think about what becoming debt free, would mean to you.
Keep that image in your head, of what becoming debt free would mean, because you are about to make some hard choices. If you don’t keep the freedom image in your mind, you may want to give up, when it seems that you are the only person you know, who is not going on a cruise this year, or who doesn’t upgrade to a 60 inch plasma television.
We live in a society, where we buy now, and pay later. Unfortunately, that has lead to a situation where everyone is in debt. The recent constriction in the credit markets has meant that people who used to be able to get easy credit, are having to tighten their budgets.
Becoming debt free, starts with taking stock of what you have, and what you owe. Your first order of business, is to start living within your means.
You must make the minimum payments on your debts, as well as provide food, shelter, and clothing for your family. There are other essentials, such as transportation, and utilities.
But within each of these categories, there are ways to cut the fat out of your budget. For instance, most families could half their food budget, just by cutting out the restaurant meals, and pre-packaged foods, at the grocery store. Sure, this means actually cooking homemade meals. But I’ll bet you find that the meals you make at home, are far more nutritious than the ones you’ve been eating. And, they’ll keep you within your budget, too.
While cell phones are certainly a necessity today, having the package with unlimited calling, and texts is not. Having cell phones for emergencies, and quick calls is one thing, having cell phones as an appendage to the ear, is another.
Even utility bills can be slashed, if you are willing to open the windows, use fans, and cut the air conditioning in the summer, and use space heaters, and wear sweaters instead of central heat in the winter. These choices are smarter for the environment, as well.
Will you feel some measure of loss, and the pain of not wanting to sacrifice the luxuries of life, while becoming debt free? That is inevitable. Your kids may not quickly adjust to their new, more Spartan lifestyle. They may not understand why you’re no longer handing them $20 when they want it.
But, over time, you can teach them good habits about how to handle money matters, in a more responsible way. You can show them with your own actions, that being financially responsible, is emotionally a healthier choice. By compensating for “things”, with quality time with them, you will win them over.
So, keep in mind, what becoming debt free, really means to you. It will make the hard choices you are about to make, seem worth it all.
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