July 7, 2009
Start with Simple Steps; Here’s How
Small Changes add up!
Hello all you debt weary souls out there. I want to bring a ray of hope to you today. Consider, if you will, how you got to where you are now, possibly deep in credit card debt, or a mortgage that turned in to more than you intended, perhaps the ARM has adjusted upwards, [something you naively & too optimistically overlooked the possibility of happening]. Many of Americans are now, or have been there. Now for the next steps, steps to begin the journey out of the habits that often create more debt in our lives. My recommendations would be to start off simple. You and whoever else in your household who is responsible for household expenditures should strive to:
- Create a Plan! Take a deep breath (then let it out of course!), and get resolved to change things. This is a mental exercize, and you need to get the mindset that you CAN overcome this issue of debt. Do some online reading about how to accomplish getting out of debt. There are many reliable resources to learn “How to create a Budget (and stick to it)”, or “How to get your Credit Cards paid off faster”, etc.
- Create ‘milestones’ or ‘markers’ as you pay down debt or if you stick with the budget you made for that week. Don’t make the milestones too far off in the future. Reward the small steps, and before you know it you will have taken big strides to eliminate your debt.
- Create a habit of paying for things with cash. You can use a debit card as long as you keep just enough money in your debit account to cover the necessary expenses until the next pay period. Segregate the money you intend to spend on paying down credit card debt, or your mortgage payment, and any essential monthly bills you may pay on line etc.
- Find support for your new habits and lifestyle, whether it be from family, friends, online communities, or other support groups. Also, support each other-praise your family members when you notice them do something that you have agreed together to do to reduce expenditures as a family. Take time to Reward yourselves- it doesn’t have to cost money- or even if it costs, it could be a very economical reward, like going out for a show at the ‘Dollar” Theater.
- Reduce Restaurant Spending: Plan meals at home, and take your lunch to work from home. That is a ‘toughy’ for many of us who are are strapped for time or are just ’chef-challenged’. Also, if you like to buy coffee out-either bring your own, or look for cheaper alternatives, reduce the number you consume daily, OR even declare certain days during the week as a “Coffee-free day”. We could all use a little discipline in our lives! <sheepish grin>
- SMILE! Yep, that’s it, smile. If your face smiles, the rest will follow.
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