Debt Proof Living

Debt proof living is a way of life you must get to in order to achieve life abundance. Being in debt is demoralizing both to your finances and your state of mind.

I want to see you achieve financial abundance and experience the inner peace and calm that comes with it. How many times have you been personally frustrated or been in an argument with a loved one over debt payments?

All it takes is the decision that you don't want to live like this anymore. Let's explore a few ways you can experience debt proof living.

Debt Proof Living
Mindset
Living a debt-free life starts with deciding to do so. Once you've decided on the goal of financial abundance, you need to take it seriously. If you're going to succeed, you need to be able to withstand the pressure of your peers and advertising.

Develop a tough mindset that you'll stick to your plan to save money and spend it wisely. Understand that the commercial trying to convince you that "you deserve it, so pull out your credit card and charge it" is just a sales pitch for your hard-earned cash. Where are those advertisers when you're paying for that purchase years later?

Debt Proof Living
Keep A Budget
OK, you're serious about this financial abundance stuff, now write it down in a budget. How can you keep more money than you make if you don't have a detailed accounting of how much you must put out each month? You can't!

Once you see your outgoing responsibilities laid out on paper, it can be an eye opener. Are there some areas where you're over-spending? Can you cut back somewhere to add either to debt reduction or savings?

Debt Proof Living
Don't Overspend
This may seem a bit obvious, but if so, why are so many people doing it? Living within your means is one of the basic rules of personal finance.

After you have your budget, look at your income and make sure you make more than you put out. If you're spending more than you make, can you see that there are some serious changes that need to be made?

Now the big decision: Can you cut back enough to get your bills under your income and still live an abundant life? If not, the only solution is to find more income. Can you get a raise at work? If not, I suggest finding a way to earn more money part-time. Check out my build a website page for one idea on this.

Debt Proof Living
Cut Up The Credit Cards
Once you are out of debt, cut up all your credit cards except for one or two that have low limits.

Yes, you read right. Get rid of the plastic! It's the only way to have a debt free life. If you don't have $30,000 in credit limit, you can't end up $30,000 in debt, right?

Keep a couple cards with maybe $1000-$2500 limit each for when you need a credit card (plane tickets, concert tickets, etc). However, remember to live within your means. Charge what you can pay off when the bill comes.

If you follow these debt tips, you'll become debt proof and a whole lot happier.

"Buy what thou hast no Need of and, ere long,
thou shalt sell thy Necessaries."
- Benjamin Franklin
Change your life,

Matt


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