Learn to Pay Off Debt
We live in a day and age when it is so easy to get yourself into a ton of debt. It’s the American way after all. It is incredibly normal to be in over your head in debt and living paycheck to paycheck. This doesn’t make it right, however. We really need to learn as a society to pay off debt rather than allow it to build up. The following shows what I did to pay off debt. Maybe it can work for you too.
Reduce spending. My wife and I have reduced spending in so many areas. My wife makes all of our cleaning products. I do our oil changes and most of the work on our cars. These types of things save tons of money in the long run. We have also cut out most fast food and only eat out for special occasions. In the home we have got rid of cable television and have made sacrifices to lower our utilities such as using wood to heat instead of a heater and ceasing to water the lawn. (I know! It kills me too.)
Get extra cash on the side. This is the biggest thing that has helped us to pay off our debt. I began writing for a website called eHow a while back. At first the intent was to get some play money, which it did. It kept me in supply of guitar strings, picks and a video game here and there. Then inflation set it and we were not making budget so my play money went there. I kept writing more because it wasn’t enough. Now I am actually working full time writing online and have given up my corporate job. You can see more about my writing method here if you want to know how to make real money at it.
Stop using the credit cards. We decided there was a will power issue that needed to be addressed. It’s too difficult to refuse a purchase when you have that fake money in your pocket. When you know it means a $25 overdraft fee as the money comes out of your bank account, you start to realize what you really do and do not need. I actually quit carrying my credit card alltogether. Now that we have perspective, we actually use our credit cards for good not evil. We make all purchases on them without spending money we don’t have, with rare exception. This way we rack up points which turn into resturaunt gift cards so that we can go out on a date here and there.
I hope my experience will encourage others and give some ideas about how your can pay off debt too.
