10 Quick Steps To Get Out Of Debt!
Living Small (as opposed to Living Large)
Start couponing. You’ve probably heard this one a thousand times—but are you doing it? You can save a ton of money just by showing a coupon to the cashier. Just be sure you’re using coupons for products you already buy, otherwise you could end up overspending on items you’ll never use. That’s how you end up with 10 bottles of spicy mustard sitting in your pantry.
Try consignment shopping. Let’s keep it real, our kids grow out of their clothes virtually overnight. What’s the point because it’s not worth going into debt for your two-year-old’s clothing. Check out consignment stores that sell pre-loved, good condition outfits for your kids. If you’d rather shop online, no problem. Sites like thredUP.com and Swap.com are great resources to get adult and children’s clothing at a fraction of the cost.
Get rid of your cable. They call it “Cord Cutting”. Welcome to 2017, where you can watch most of your favorite shows online. If you haven’t bitten the bullet yet, do it! Put that $100 cable bill toward your debt each month and watch how quickly your debt snowball moves.
Stop dining out. Home cooked meals and making fresh and healthy foods beats eating out any day of the week. Get creative and share a meal, have friends over for a BBQ night instead of meeting out for dinner.
Kick the habit and break up with your barista. If you don’t know where all your money is going each month, we’re pretty sure your favorite coffee shop can locate it for you. Brewing your own coffee at home is a simple way to save money fast.
Plan your grocery trips. Make a list and stick to it! Use a calculator while you browse the aisles to make sure you’re sticking to your budget. Do impulse items always end up in your cart? Try ordering your groceries online and then picking them up curbside at the store. Oh, and don’t shop on an empty stomach!
Tell the kids you’re on a budget. When it comes to money, the kids can be a worse guide than your stomach. Be open with them about what you do and don’t have room for in the budget. And remember: Never be afraid to use that magical “no.”
Dump your expensive hobbies. Do you really have $200 a month to spend on golf? Are you serious?
Sell some of your stuff on Facebook Marketplace or Craigslist. One man’s trash is another man’s treasure. Dig through your kids’ rooms and the abyss of your closet, and look for anything you can part with to make some quick cash.
Start a side gig. Starting driving for Uber or Lyft…..when your not spending your time and money at the coffee shop or playing golf….you can work this side hustle.
A BONUS TIP!
Make a budget! Budgeting should be easy! Focus your money on what matters: day-to-day spending, knocking out those pesky debts and building wealth. Checkout this free budget tool.