So you're an average American - you have a vehicle for yourself, one for your spouse, have a child or two in college and a couple still living at home and have debts you're having difficulty paying off. Let's face it, we love to enjoy life, don't we? But what if liking the finer things in life led you into a vicious cycle of debt that keeps rising and keeps your nose to the grindstone?
You may be gloating over your new iPhone, but you won't be so smug when you see your credit card bill. If you really hate being in debt so much, develop discipline and stop spending!
Make it a point to never shop just to make yourself feel better. You are not alone, though - there are millions of Americans who get away from their everyday anxieties by spending, spending, spending. Emotional spending, that's the name of the game, and a lot of us resort to this.
However, you would only get more stress and headaches after you've spent all that money! If something's getting you down, look for more productive ways to release your anxiety, instead of seeing your "shrink" at the shopping mall by spending on things you don't really need anyway.
If you can't afford it with cash, don't buy it. That way, you can finally put a stop to all that frivolous spending on your credit card. Carry a certain amount of cash with you and leave the ATM card at home - along with the credit cards.
To eliminate your debt, you need a plan. Using a notebook or ledger on a software program like Excel, and divide it into two sections. The first is for your living expenses such as your utilities, food, etc.
In the second section, make columns for debts and anything you spend money on such as entertainment, haircuts and so on. This will help you keep track of how and where your money is being spent each month.
Once you see where your money is going, take steps to eliminate unnecessary spending. While you're cutting back, start putting any extra money that you're saving toward paying off the existing debt.
It is a common pitfall for people to start spending like there's no tomorrow to celebrate being debt-free. This just puts you in the same bind and causes you more stress. It is so much more worthwhile to be like one of the many people who have conquered their debts and are now paying for everything, cars and homes included, in cold cash.
You may be gloating over your new iPhone, but you won't be so smug when you see your credit card bill. If you really hate being in debt so much, develop discipline and stop spending!
Make it a point to never shop just to make yourself feel better. You are not alone, though - there are millions of Americans who get away from their everyday anxieties by spending, spending, spending. Emotional spending, that's the name of the game, and a lot of us resort to this.
However, you would only get more stress and headaches after you've spent all that money! If something's getting you down, look for more productive ways to release your anxiety, instead of seeing your "shrink" at the shopping mall by spending on things you don't really need anyway.
If you can't afford it with cash, don't buy it. That way, you can finally put a stop to all that frivolous spending on your credit card. Carry a certain amount of cash with you and leave the ATM card at home - along with the credit cards.
To eliminate your debt, you need a plan. Using a notebook or ledger on a software program like Excel, and divide it into two sections. The first is for your living expenses such as your utilities, food, etc.
In the second section, make columns for debts and anything you spend money on such as entertainment, haircuts and so on. This will help you keep track of how and where your money is being spent each month.
Once you see where your money is going, take steps to eliminate unnecessary spending. While you're cutting back, start putting any extra money that you're saving toward paying off the existing debt.
It is a common pitfall for people to start spending like there's no tomorrow to celebrate being debt-free. This just puts you in the same bind and causes you more stress. It is so much more worthwhile to be like one of the many people who have conquered their debts and are now paying for everything, cars and homes included, in cold cash.
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