Financial Tip

I committed to getting completely out of debt in 2017. In making this decision, I've read everything I can get my hands on, including Dave Ramsey's http://www.thesimpledollar.com/review-the-total-money-makeover/, numerous blogs, including my favorite: http://www.mrmoneymustache.com/ as well as perusing the internet at night looking for helpful insight from folks who've already had success in this endeavor. To date, I've paid off 57.5% of my debt and am on pace to be completely debt-free earlier than originally planned. I'm no expert, and have been humbled along the way, but wanted to share some of the lessons I've picked up on this journey:

• Get on a budget. Try EveryDollar.Com for a free budgeting tool. It's intimidating (and quite humbling) at first, but the only way to true financial freedom. 
• Take another look at your outgoing expenses. I was actually surprised at how some of my insurance premiums had increased, causing us to find cheaper options. Make sure to review your automatic deductions regularly. 
• Do you really need a home phone if everyone in your house has a cell phone?
• Cable bill? After looking at how much I actually watch Showtime and HBO, I cut my cable bill by 67% and still watch all the same movies on Netflix for considerably less money.
• Did you know that new cars lose 65% of their value in 4 years? Most millionaires buy 2-3 year old cars for this reason. Shop around and try to find a used cars from a private seller to avoid paying for a car lot's overhead. And pay cash, if possible.
• You can give more when your money is not going to debt. My favorite part of this journey. 

FYI - None of this is paid for advertising. I've become a Dave Ramsey, Chris Hogan and Mr. Money Mustache groupie the past two months. The best way to stay focused on the prize is to keep the information turned on full blast, which I do on my 50 minute rides to/fro work each day.