I have created a list of ideas to to help you get on your journey to becoming debt free! These are the very same tools that I have used throughout this personal journey towards financial freedom.
- Create a Budget: Being on a budget is key. Don’t get me wrong there are months when I completely spend more than I should, but having a budget allows me to keep an eye on what I am spending my money on. It allows me to see where exactly I am overspending and what areas I need to cut back on.
- Cut my Expenses: This brings me to the next point – cutting your expenses. Take a hard look at where your money is going. Is there anything you can trim from your budget? Think cable costs, cell phone plans, grocery budget, mindless shopping at Target (please tell me that I’m not the only one), etc. Just be creative and find ways to decrease your expenses so you can put that money towards your debt.
- Use Coupons: Coupons have been a big reason as to why I have been able put so much towards my debt. I do most of my grocery shopping with coupons. And no, not all coupons are for processed foods. You can get coupons for organic foods as well. I tend to go to CVS & Target for my household items, paper goods and toiletries. I always feel like you can catch a better deal for those items than at the grocery stores. Probably because a lot of the times there are gift cards and store cash (CVS has extracare bucks) associated with the deals. I’ve learned to play the coupon game at these stores to get the most bang for my buck.
- Lose the Credit Card: No don’t literally lose it, but don’t carry it around in your wallet. Stop using it. Leave it at home. I always second guess a purchase if I have to physically pay for it with cash at the register. It’s so much easier to just swipe a card at the register (debit cards are included in this). So the more we see the cash dwindling away from our wallets, the more I feel like we will pay closer attention to our purchases.
- Cook at Home: Trust me I know it’s so much easier to just order take out or to go out for lunch, but all of those purchases quickly add up. Instead cook at home and bring your leftovers in to work the next day. Not everyone has the time to cook a gourmet meal, but it’s so easy to fix up a salad or a sandwich if you’re under a time crunch. Pinterest is a great resource for quick & easy meals. Meal prep ahead of time if you know you’re going to be busier later on in the week. Prepare freezer meals that you can pop into the crockpot.
- Sell, sell, sell: We are a consumer driven economy. We sometimes buy things and then realize that we no longer need them or they no longer serve a purpose. Instead of allowing it to keep on accumulating dust, why not sell it? If you don’t want to have a yard/garage sale, there are so many websites you can use to tell your items. Craigslist, eBay, Amazon, thredUP, Offer Up, and VarageSale are just a few. Look around your house and find items that you can sell and make a few extra bucks.