The 5 secrets to becoming debt free

 Becoming debt free


Ever wondered how people manage to pay of so  much debt in a seemingly easy way?  These 5 secrets to becoming debt free will show you how.  Paying off debt is never easy; it takes plenty of hard work and determination, and the ability to keep picking yourself up when everything seems to be working against you.


1. Get organised

Being organised saves you money, so when it comes to paying off your debt being organised is so important.  You need to track all money coming in and going out, which helps you plug any spending holes in your budget, allowing for as much money as possible to be thrown at your debt.  You also need to make sure all bills are paid on time to prevent late payment fees, meal plan to lower your grocery costs, and always shop at home before you hit the stores.  You could have that exact item you need hidden away at the back of the cupboard.


2. Set a goal

It’s hard to get anywhere with a plan out in place, and that includes paying off debt.  Once you have made that decision to pay off your debt, set a goal and believe in it!  Mark a date on your calendar that you would like to be debt free by, and work as hard as possible toward that date.  There will be times when you feel as though your debt will never get paid off, it feels like everything is working against you and you feel completely defeated.  That’s completely normal, but the difference between people that pay off their debt and people that don’t is that the successful ones just get up, brish themselves off and continue working toward their goal despite the setbacks.


3. Be a team

If you are working towards your debt free goal with a partner, it’s absolutely vital that you are both on the same page.  It’s going to be very hard to reach that goal if one of you is saving every dollar, while the other is spending money twice as fast.  You need to communicate regularly, and cheer each other on every step of the way.  Lack of communication in relationships leads to resentment, especially when it comes to finances, and that is not going to help your journey one bit.


4. Avoid shopping

Have you ever taken a trip to the shops just for something to do?  To seriously save money, you need to completely avoid recreational shopping.  Even if you don’t plan on buying anything, there is a good chance you will come across an item that you just have to have because it’s on sale, despite the fact that it’s something you never knew you needed before hitting the shops.  Avoiding stores all together is the best way to avoid the temptation of impulse spending.


5. Read anything and everything finance related

One of the best things you can do to help your financial situation, and to avoid getting into debt again, is to keep learning.  Read everything and anything finance related that you can get your hand on.  Just be sure to use your local library to borrow books rather than buying them!


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