A few helpful tips I picked up the past year on my debt-free
journey:
- · Establish and stick to a zero-based budget: Planning how to spend every dollar forces you to make good decisions about what to do with your money.
- · Use cash as much as possible: Handing out paper is way more painful than using plastic.
- · Track your net-worth: It’s a more positive way to look at eliminating debt. Subtract your debt from your assets and see how you progress, month to month.
- · Let your money goals segue into other areas of your life, like getting into shape or improving your standing at work.
- · Celebrate: Each time you pay off something big, reward yourself.
- · Have an accountability partner or group: Telling others of your goals can be incredibly motivating.
- · Side hustles: Look for opportunities to sell stuff you don’t need or do some side jobs to generate extra cash to throw at debt.
- · Use FSAs and other tax shelters to keep more of your money.
- · Avoid additional debt when you are trying to get out of debt.
- · Give, give, give, give…..
1 comment:
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