Three tips to mastering the art of debt free living

King bell

VIP Contributor
Debt can be a crippling burden, but it doesn't have to be a life sentence. There are many ways to get out of debt and become financially free. Here are three tips to help you master the art of debt free living:

1. Get on a budget. This is the first and most important step to getting out of debt. You need to know where your money is going in order to make changes and get on a path to financial freedom.

2. Create a debt payoff plan. Once you have a budget in place, you can start to create a plan to pay off your debt. This may include things like getting a second job, making extra payments, or consolidating your debt.

3. Stay motivated. Getting out of debt is not easy, but it is worth it. Stay motivated by setting financial goals and reward yourself along the way.

If you are ready to get out of debt and start living a debt free life, follow these tips and you will be on your way to success.
 

btaliat

VIP Contributor
Living a life void of debt is everybody's dream but not everybody will achieve this just like other dreams are not achievable by many as well. How can we now try to avoid to leave on debt even if we are unable to stop it?

Knowing difference between want and need: the only major characteristic of man is that he's insatiable that's why his wants can never finish-they are unlimited. Needs are also unlimited but they are mostly desired. We should learn how to focus on how to achieve the need and not really the want. When we get all what we want, we may later be in a state of want.

Preference scale: we need to know how to use opportunity cost. There are some things that have to go to next month plan if buying them now may affect our purse. We can always try not to subscribe if there is no much food in the house. This means that even if we need all of our needs, there is need toske sure that some needs are put first before some needs.

Mastering these two ways may be enough for us to live a life without incuring much debt on ourselves.
 
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