Three tips to mastering the art of debt free living.

[Jasz]

1. Understand that the goal is freedom not debt reduction

The first step is to realize that working toward a debt-free lifestyle is a long-term commitment. It requires an investment in time, money and patience. You can't get there overnight, but you can get there eventually.

2. Realize that it's not about the money

Many people think about paying off their debts as if it were a game of Monopoly, where they need to collect all the money from their opponents before they land on jail space. But it's not like that at all; setting aside just 10% of your income for retirement is better than putting anything in savings because you'll be able to make the most of your money over time and live comfortably in retirement years.

3. Be flexible about when payments are due

Many people expect automatic payments from their credit cards every month, which can lead them into trouble if those payments aren't made on time or if they carry high interest rates themselves! A good way to avoid this problem is by setting up automatic payments through an online service like Mint or Clear Blue.

 

[Etini]

I hate debts. It makes me feel uncomfortable. That's why when I owe anyone any debt, I try to pay it back as soon as possible. It is possible to live a debt-free life. And it ultimately starts with living within your means. Know your income level and don't stretch to live above that level. So many people want to impress others and in a bid to do so, they stretch beyond their income boundaries.

I know of a couple who were heavily indebted after their wedding because they opted to do an open wedding. Whereas a private wedding could have just been suitable for them at their level. For the first two years of marriage, they were in debt, and soon enough, their marriage turned sour. I also know of a guy that borrowed money to pay house rent. He lived a miserable life because he spent most of his income paying that debt. People should learn to live within their means.

 

[Holicent]

Debt free living is a common goal and many people have made great progress in the past few years.

The key to becoming debt free is to understand what kind of debt you are dealing with and how to manage it.

Here are three tips to mastering the art of debt free living:

1. Know your debts - find out how much you owe, where it comes from and when it will be paid off.

2. Track your spending - keep a record of all your spending for a few weeks so that you can see where your money goes.

3. Make a budget - this should include a realistic estimate of what you need to live on each month, including groceries, bills and entertainment expenses like sports or movies.
You should also know that realistic goals are one of the best ways to make sure you are on track with your financial plans. Will you be debt free in one year? Five years? Ten? If your goal is too short-term or too long-term, it will be difficult to achieve and will leave you feeling frustrated when you don't meet your goal.

 

[saoussen5765]

There is many applications on the mobile phone to track expenses. Then what all you do so everything you pay a bill or make a debt you just fill in in the application. Then there will be as sort of recommendations from the app to track unecessaries expenses then to warn you what you should not expense as it is something not mondetary and you could leave without and the necessaries expenses by end of the month. By this statement then you will organize more expense, reduce debt schedule and also do not spend lavishly the money.
Then there will be as datagram detailing what you could save if you do not spend money by this way and what was essential but you did not spend any dime on it. This is what we call artificial intelligence and let such apps think with us to have better living with less debts.