Debt free for life is the ultimate dream. Who wouldn't want to go back to a simpler way of life and live off the land? But many can't because of those dreadful debts that keep them chained to the grindstone.
Sadly, most people don't know how to live debt free. But it can be done. Read on.
You may think the only way to get out of debt is to get a huge windfall, like winning the lottery or inheriting a lot of money.
Nothing could be further from the truth.
The fact is, if you can't manage the amount of money you are currently making, you're not going to be any better off even if you do win a lottery or get some other great gain.
Instead, the only way you'll likely ever be debt free permanently is if you curb your spending now and make sure more money is coming in than going out - and make sure your debt is decreasing every month.
If you owe money on several credit cards, make an effort to pay off the one you owe least on first. Once that card is paid off, cut that card up and start paying off the next card in line. Eventually you will have a snowball effect, with more and more money going each month toward paying off your debt.
You may think you have cut back as far as possible, but look hard enough, and you can usually find ways to save money and become a life-long debt-freer.
More often than not, you spend money to buy things you don't really need. Do you really need that jacket with the designer label, or will a lower-priced one do just as well? Better still, can you find a jacket at a thrift store or garage sale?
The secret to becoming debt free is to get into the habit of looking at everything you spend money on and start asking yourself: "Can I find it someplace cheaper?"
Just remember that living debt free is a lot like healthy eating in that it has to become a way of life. Spending more money than you have is a habit that can be broken, although a gradual change of behavior is far better because it leads to permanent changes.
To become debt free for life, don't go cold turkey and cut yourself off from everything all at once. If you do, you'll likely feel deprived and do binge spending. Instead gradually learn to cut back.
Before you know it, you will be debt free and experience the freedom you've been longing for.