Debt Free Solutions to Attain a Debt Free Lifestyle

by Pierre Smith - Date: 2007-04-15 - Word Count: 357 Share This!

Nowadays, while growing consumer debts have become a typical part of the way of life, many people dream of a time when they will be debt free but don't know where to start. This article is full of debt free solutions to develop and maintain a debt-free lifestyle:

1. Make the Commitment.

Every time you go to a designer store, or feel the need to make an impulse purchase, you must ensure that you are committed to maintaining a debt free lifestyle. Leave the store, think about it over night and then see if you really want it.

2. Make a Budget.

Allocate your income and expenditure so that you know how much money you are making, and what you need to spend money on.

3. Leave your Plastic Home.

Credit Cards should only be for emergencies, or if you can afford to pay them off in full each month. Leave the plastic at home so you won't get tempted.

4. Pay your existing Debts.

Pay off your existing debts. Pay more that the minimum monthly commitment, and if you have any extra cash, put it into your debts so they can be paid off more quickly.

5. Choose one, chuck the rest.

Limit the number of credit cards you have to one or two. Pick the one's with a lower interest rate.

6. Avoid impulse Buying.

Leave the credit cards at home. And make it a habit of thinking and discussing big purchases with friends and family.

7. Get rid of things you do not need, and turn them into Money

Have a Garage Sale to sell unwanted items, or sell them on eBay.

8. Live within your Means.

Don't spend more than you earn. A credit card is a useful tool, but it shouldn't be considered an extension of your income.

9. Set long-term Goals.

You need to look long-term if you want to be debt free, as debt-free means living within your means whilst having investments to increase your income.

The main key to attain a debt free lifestyle is to keep track, know how to manage your finances, and resist temptation. Always make sure that as days pass by, you're getting rid of your debts, no matter how slow your progress is.

Related Tags: debt-free, debt free solutions. debts

This information about debt free solutions was brought to you by Pierre Smith. Try visiting also his website at Debt Destroy to get more tips and ideas on how to become debt free in proven steps and to discover how to attain free of debt in record time.

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