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It is so easy to get into debt. But what is the best way to get out of debt?
We are tempted to over spend without even thinking about it. When I go to the grocery store or Costco or a super market, I always buy things I don’t need even if my wife’s caregiver gave me a list.
My food shelves always have more stuff than I intended. I also buy too many dairy products. It’s enough to make my wife’s caregiver scream, “Stick to the list!”
Kids are great for pointing out things they want. Sometime rather that put up with the screaming, parents give them what they want.
Sometimes something that is completely serviceable is replaced for no reason. I sold shoes part time before I went back to graduate school just to gain a few bucks. One lady came in with her daughter all the time and replaced her daughter’s shoes every few weeks. Telling her the size was the same and the shoes were identical to what she had did no good at all. I imagine she did the same thing with everything else.
Here are some ways to reduce spending:
1. Operate within a budget. Spend what you can afford.
2. Make things do or repair them. The corollary to this is to do without.
3. Don’t take the kids grocery shopping unless you have to. If you do, lay down the law before you go to the store, not in the store.
4. Eat something before you go grocery shopping.
5. Watch out of the end of the aisle bargains, junk you don’t need.
6. Collect coupons for items you use, not for crap you don’t use or need.
7. Carry cash to the grocery store to the amount you want to spend, no more.
8. Avoid credit card purchases. If you use a card, then make sure you pay it off every month so that you don’t pay interest nor generate debt.
Best Way to Get Out of Debt
If you are burdened with debt, then here are some ways to help you get out of debt:
1. Stop spending beyond your means.
2. List your bills from the lowest balance to the highest.
3. Increase payments on the lowest balance bill.
4. When you get a bill paid off, then put those payments on the next lowest balance bill.
5. Keep up this process until you are down to your house payment, then work on that.
6. Get a work at home project going to help pay off all your bills.
7. Save part of your income (10%) for emergencies and retirement.
Don’t let others take your money from you without a struggle. My Credit Repair University has helped thousands of people get out of debt. For more information. Click Here!
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