Kill
Bills
By: Tom Justice
Get Rid of Some "Extras"
The key to financial freedom is building wealth. The
key to building wealth is eliminating all your extra
bills so you have money to save. The average
consumer's credit report carries quite a burden from
these bills as well. Let's start with what hurts the
most. Eliminate any habits you currently have. Most
habits cost money and if it's a habit it can't be
healthy for you in the long run anyway. Smoking,
drinking, candy, coffee, collecting junk, etc. You
will be surprised how much cash you pocket if you
just quit 1 or 2 of the above (if any apply of
course). By giving up a habit you are not only
saving money and maybe even your health, but you are
also gaining self-discipline helping you mature
financially.
Food: Dine In or Carry Out
Let's look at the two separately AND together. If
you eat out once a week, even at $25 you are
spending $100 a month. Pretty simple math. Let's say
you get carry-out (drive-thru) 3 times a week at $5
per visit. This equals $60 a month. These figures
are below average, but even so, this is $160 in 1
month that could be used to eliminate some smelly
debt. Pack a lunch for work. Try cooking at home.
It's a fraction of the cost, it tastes better than
"fast food" and it is usually healthier. If you
can't eliminate eating out then try cutting it in
half for starters.
Grocery List (or lack thereof)
Many consumers head to the grocery store with no
plan or list. BIG mistake. This is what grocery
stores are designed for. Go ahead, walk down each
aisle and tempt yourself with row after row, shelf
after shelf of junk food, extra stuff that you don't
need. A list could save you 50% alone - that much
more to wipe out those irritating loan payments. A
grocery list serves two purposes. It saves you quite
a bit of money which you notice immediately.
Secondly, it allows you to be more prepared for the
upcoming week, month or however often you shop. You
can make out a daily meal plan ahead of time so you
know exactly what you need to purchase and
approximately how much cash you will need.
Sell Some Stuff
Everyone has stuff lying around collecting dust.
Remember the saying "One man's trash is another
man's treasure."? You could probably knock out a
couple of stagnate bills with some of those
collectibles sitting in a box in the closet. You
would be surprised to know that an object you have
absolutely no interest in could sell on an auction
site and pay off that hospital bill that's been
chasing you around like a mad hornet.
Cash, Cash, Cash
Only buy with cash. Plastic looks the same when you
spend it. Dollar bills disappear and you will feel
the impact when you start to get a shortage of it.
Start a cash envelope system - at least one for gas,
food and clothing. Like any new system, it will take
a few times before you get the right amount in the
envelopes. You will start to notice a large impact
on your budget though and will find it worth while.
If you buy something with cash you don't owe on it.
You might think a little longer about it too when
you hold on to that $100 bill. If you apply the
various techniques and ideas in this article you
will start to knock chunks off your overall debt.
This will get you closer to achieving financial
freedom and your credit report will begin the long
awaited healing process. Start today!
Author Bio
Tom Justice is the webmaster for Clean Credit Online
and does all the designing, marketing, SEO and
maintenance the site. He has a passion for personal
finance and how the economy and consumers are
affected by money. To see how you can use Clean
Credit Online to help you with your personal
finances please visit
www.cleancreditonline.com
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