Are you tired of stressing out about your budget and financial freedom (or lack thereof)? Keep reading for 6 simple debt free living tips and money saving hacks to finally get out of debt. Great money saving tips and budgeting tips that will leave you excited about doing your bills every month!
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- Debt Free Living Inspiration
- How To Pay Off Debt Quickly
- Debt Free Living Tips For Financial Freedom
- Self Care, Productivity, Personal Growth and Healthy Mindset Coach
Debt Free Living Inspiration
Living with a mountain of debt can be stressful and completely overwhelming. Typically, living with debt means you probably have several credit cards with balances and monthly costs that are piling up.
Unfortunately, those credit cards come with ridiculous APRs (sometimes exceeding 25%) and every dollar on that card means more of your hard earned money goes straight to interest.
How in the world do you pay anything off when the things you already owe keep taking more and more of your hard earned paycheck?
Here’s some debt free living inspiration for you. Once upon a time my little family was struggling to make it. My husband and I married young, hadn’t started our careers yet and had our daughter very soon after.
It was a lot but we loved our little family. Without even realizing it we were chasing the idea of living the perfect little life. You know the one I’m talking about… happy couple, adorable child, cute clothes, perfect house… you get the idea.
It took several years but we quickly realized we had made a horrible mistake. We had racked up quite a bit of debt. The idea of paying it off seemed impossible. After all, we used it because we didn’t have the cash at the moment we made a purchase.
We read about the Dave Ramsey program and adapted a version of it to work for us. It took us several years but it worked! Keep scrolling to see the top 6 budgeting tips to finally get out of debt and experience debt free living!
How To Pay Off Debt Quickly
If you’ve found yourself with bills that you can’t seem to dig your way out of have patience. Your debt might include things like car payments, insurance, house payment or rent, utilities and monthly expenditures.
Maybe you’re just starting out and trying to avoid the pitfalls of incurring too much debt. If so, be sure to keep it simple!
Just because ads and people around you look their living a dream life doesn’t mean it’s true. The best way to avoid debt is to be content with what you have now. Only get what you need.
You may be wondering how long you need to do this. I mean, surely all of my life won’t be dictated by living with less.
The reality is, that’s kind of true. If you want to get and STAY out of debt and truly experience debt free living you need to simplify your life.
That’s great and everything but how do I do that??? Here are a few ways to start living that debt free life.
Minimalism To Start Living That Debt Free Life
- Shop Less – Yep, sounds a little bit crazy. BUT consider this… Why are you going shopping? What are you going to get? Do you go shopping just to browse and see what looks good? Beware! It’s a trap! If you want to experience debt free living you have to change your spending habits.
- Use Shopping Lists – It’s not realistic to say you’re not going to go shopping. So, when you do need to go to the store, use a shopping list. Stick to your list. You will find you spend less and the added bonus here is you gain a LOT of extra time too!
- Meal Plan – Food can be really expensive. Eating out can break the bank. The best way to save money is to avoid eating out. You can still eat well and even better than your typical fast food options. This is my favorite meal planning system. Grab it here.
- Lock Up Your Credit Cards – If you don’t have the cash to get what you need, wait until you do. If that sounds like too much break down how much you will pay for $10 on your credit card. If your interest rate is 20% you will pay an extra $2 for that $10 purchase. Every month, your unpaid balance just continue to grow. As hard as it is, only spend what you have.
- Save First – Before you do anything else, set aside your savings. If it’s not in the mix for you monthly spending… you won’t spend it. Ideally, you would get to where you save at least 20% of your monthly income. If that isn’t possible, start with what you can do and little by little save more.
- Budgeting is essential – Whatever you do, use a budget. In order to have financial freedom you need to know exactly what’s coming in and exactly where all of your money is going. Log everything. Using a budget to plan your finances will help you take control of your spending back.
Use A Budgeting Workbook
If you use a budgeting tool that breaks down all of your expenses, tracks your bills, logs your planned outgoing money AND compares the difference.
This is my favorite budgeting tool! Definitely check this one out. If you don’t choose this be sure to use debt payoff printables that are organized and detailed.
Debt Free Living Tips For Financial Freedom
Use these 6 simple debt free living tips and money saving hacks to finally get out of debt. It’s totally possible to use money saving tips and budgeting tips that will leave you excited about doing your bills every month!
Watch your bills decrease and your savings grow. It will take time, but it’s worth it!
Just remember, take it one day at a time and don’t get discouraged!
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Be sure to comment down below on your struggles with debt free living and budgeting. What do you struggle with? Let’s encourage each other through this process!
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