Four tips to live debt free

A most important motto that everyone should have in this new century is “the less debt you have, the wealthier (and happier) you’ll be”. The law of attraction is always in action, whether you believe it, or not. And I always say that following the laws in action are a good thing. Afterall, who would want to live in debt, in poverty and struggling every step of the way?

Having this in mind, it is true that a light debt luggage will ensure a more secure future and guilt-free spending on the things you want and the things you need. In the today’s society, living debt free is a feeling hardly known. People just cannot understand the joys of not having debt to darken our days. However, who once tasted the feeling, will never want to go back to living in debt!

Here are a couple of things you can do to start your journey towards eliminating debt from your life, and start saving money in the process:

1. Start tracking your spending habits, and determine the type of budget that suits you. You are the best to evaluate your spending tolerance level. However you need to keep in mind that without self-discipline the best of intentions fall flat. Remember those New Year’s resolutions forgotten after day 6 into the next year?
2. Self-discipline is also good for the following: reduce overspending, stop wasting your money, eliminate ‘compulsive’ from your vocabulary. Eliminating these from your immediate life, will greatly enhance your efforts at eliminating debt from your entire life.
3. Saving money strategies are in the right place here: on groceries, on dining out, make frugal recipes, on reading books (you have a library, right?), frugal gift ideas, cheap holidays, reduce energy costs, save on gas, etc. There are plenty of things you can do every day to save money, which in turn will help you with reducing your monthly bills.
4. Rinse and repeat. Do this every single month. Start tracking your spending, start watching what you’re paying more for what you could pay less, start saving money, and add into the mix a healthy dose of self-discipline.

Using these tips interchangeably will come a long way towards eliminating debt from your life, saving money and becoming wealthier in the process. You don’t have to start big. Do baby steps, but the important thing is, just do it (like Nike says). Don’t procrastinate. Start now, and once you will get into a habit of doing these things, you will wonder how were you able to live with the high debt and guilt all the time before. You will see, it will simply seem unimaginable after a while, like a bad dream.

For further ways to reduce your debt, read this book.