10 Basics steps to debt freedom getting out of debt video

Debt Free Living Is True Freedom

Debt free living is a possibility for you and anybody, but like freedom it is something that you have to want passionately. Just like losing weight, staying out of debt needs to be a lifelong commitment. It is a commitment that you must zealously uphold without wavering.

Read on for some helpful tips to help you break the debt cycle and that will assist you to maintain a position of being truly debt free:

Pay cash for everything – Yes, if you want it that bad then start saving for it. It is what we all did not too long ago, before credit cards and easy to get finance options were available. It gave people a sense of achievement and gave the item to be bought a much higher significance. The need to for immediate self gratification instilled into people now whereby when you see something you must have it now and worry about paying for it later has created a society that is having to learn to struggle with enormous amounts of debt. If you only use your credit card for an absolute emergency and pay that balance off immediately you are still virtually paying for the item as though paying for it with cash, but this is only of you pay the portion off immediately.

Buy when things are on sale – If you shop for items and are paying full price, then shame on you! Debt free living will only be a possibility if you wait for sales. Again for most items there is no real need to see something and have it immediately. You can often save significant amounts of money by waiting for the item to be reduced in price during a sale.

Go with the off brands – Are you status conscious? If so, then that can cost you unnecessary money. If you must shop the brands then go to the outlet stores where many of the same items you crave are on sale. Sure, it may be last year’s dress, but at least you won’t be paying it off for another year!

Visit Consignment Stores – Thrift and consignment stores will often have some jewels amongst all of the bargains. You can buy clothing, shoes, jewellery, household items, tools, you name it. Swallow your pride and step inside! You won’t know what’s there unless you try.

Shop Online – Debt free advocates encourage people to shop online to compare prices. Use discipline as you could be tempted to buy more because it will seem like you can save more. Where possible shop the stores with no sales tax charged and look for free shipping opportunities.

Track Your Spending – Likely you are not sure what you spend on items through a given month. Track your spending habits for a month or two. The results will reveal exactly how your go through money every month. Look at what is essential and what is frivolous or unnecessary spending. Adjust accordingly thereafter to gain true debt free living.

Buy In Bulk – Sure, you’re likely to pay about $45 per year to belong to one of those warehouse clubs. These types of stores are favored by debt free advocates because their memberships often pay for themselves within a few visits. You can often shop these stores for everything you need in your home.

Clip Coupons – You can save big bucks on your supermarket trip by clipping coupons. Even if you just saved ten dollars per week on groceries, this would mean you could have an extra $500 at the end of the year!

Yes, you can be debt free if you want to be. This does not mean you will have to pursue a life of deprivation. Instead you can choose a life filled with freedom from the worries and stress of living your life in constant debt.

* Original article revised and edited by Tanya Frazer