Debt is hiding somewhere in your house. You are too afraid to face it, so you just continue to avoid it. You continue to make monthly payments, and just hope you win the lotto one day to pay it all off. You don't have the win the lotto. You don't have to pretend that it isn't there. Everything done in the dark, will come to the light. Your debt will surface eventually and stop you from doing things you really want to. Such as buying a house, traveling internationally for months at a time, or even adding kids to your family. It is time to stop letting your debt have control over you. I want you to know that you can get out of debt. You can get out of debt with the money you already have. We just have to change your focus and habits that got you into the situation.
Are you in? We have to make sure you are ready to commit to changing your finances. It doesn't have to be complicated, but it will take sacrifice. It is important to remember that is temporary sacrifice that can make all the difference in your future lifestyle and the generations to follow you.
DECIDING THAT YOU WANT A BETTER FUTURE
The first step is deciding what you want from life and from your money? Do you want more money to travel or to start a business. What are your true desires for your life and money? Once you know what you want from life and believe it can happen, you start to have a different pep in your step. This is your why for getting out of debt.
FACING THE NUMBERS
- You will have to know the total amount of debt you are in
- List your debt from smallest amount you owe to the largest amount you owe
- Make a budget for all your household expenses
- Use your budget to decide how much "extra money" you have
- Use your "extra money" to pay larger sums of money towards your debt
- Schedule debt payments after your paycheck, just like your other bills
- Pay towards your debt in order from smallest to greatest amount owed to get quicker wins
CHANGING THE ATMOSPHERE
Once you have a game plan to pay towards debt, you may realize you need more money. If you want to attack your debt with a vengeance you will need to find more money. So you have two options: make more money or spend less money. To be quite honest, you need to do both!
- Spend less money at the grocery store. You can read about couponing or options without couponing on how to spend less at the grocery store.
- Make a meal plan for every meal for the entire week
- You have to get focused on wants vs. needs. You don't need to eat out for lunch everyday of the week. We have goals to accomplish! Yes, the small things do add up.
- Fill out surveys online for extra money
- Sell items in your house that you no longer use
- Find cheaper alternatives to beauty products or hair products
- Realize we all have changes we can make. Decide which ones work best for you.
Make sure you sign up for the email course if you need more of walk through on building a budget. It is a 3 day email course that helps you build a budget. Pop into the comment section and let us know what has stop you from paying off debt before now?