How often have you told yourself that you want to get rid of your debt for good, start over so to speak and have money on hand and not have to depend on charging and borrowing every time you need something?
Chances are if you care about your money and want to be able to save it and spend in accordingly, you’ve thought about how to get rid of debt and also subsequently live your life completely debt free.
Those last two words are paramount because the idea of having a lifestyle or what you need to live without having to carry a little bit of debt at least is next to impossible. And truth be told, it is. There are an incredibly few number of people who actually have no debt, but the discussion put forth isn’t about your mortgage or car payment or some of the other necessary evils of debt that you and everyone else has.
This is more about how to live debt free away from borrowing money, using credit cards or amassing debt owed for things that aren’t quite as relevant and tangible as that house you’re living in or car you’re driving around on a daily basis.
This is more about charging vacations on credit cards, buying furniture or home improvement products and clothes on department store cards that have low rates at first then have interest that interjects itself at around 20 or 30 percent.
So how does one truly live debt free?
For starters, they budget accordingly to build a savings account that can help them handle emergencies or the products that they ultimately want. For this select group, it’s more about spending your own money to buy things and knowing you have enough saved that the dishwasher for $200 can come out of a checking account rather than charged to a Best Buy card, for example.
Even that so called car payment isn’t always a need, if you have a car that you can buy outright and avoid having that monthly payment. The catch with that can be a slew of repairs to come but that still can happen with the car payment, too, so why not try to eliminate at least one of the expenses.
And as long as you’re trying to live debt free, why not follow the simple act of buying based on a need not a want? If you’re toting around a cell phone that is three years old and it works fine, why replace it? The same can be said for your stove, couch or anything else that is motoring along just find in this world and doesn’t need swapped out for something better.
Keeping yourself out of debt isn’t quite the debacle and headache you might believe. It’s about decision making and determining how to budget and buy accordingly.