Whether you are young or getting older, debt can be daunting. I don’t know anyone who wants to be in debt.
The thing is that it isn’t a very easy thing to get out of debt. Plain and simple.
It takes great conviction and determination to get out of debt. If you are married it takes both of you being totally on the same page.
Ask me how I know!!
If one of you charges in a big way, it kind of can unravel the determination of the other and unravel conviction.
In our marriage, my husband is like most men who do the big spending on the larger items. I spend for our home and household on the smaller things.
Just in case you think I am trying to put myself in ‘good light’ think again.
Ladies, those little things all add up!!
This Money Thing is Getting Old Fast!!
So, you are about to click out of this post because you have read enough of them!
I might be repeating myself some, so that is another reason to opt out of reading and scrolling. There are many much more interesting things to read in the blogosphere, like a recipe would be good right about now!
Hang in there because THIS is important.
It is important to deal with overspending which often leads to debt.
Even if you are not currently in debt; if you are overspending and squeezing every penny out of your budget, the tide can quickly turn. Life happens and debt can happen fast!!
Besides, I am only about a third through my series on money!
How DO You Pay Off Debt?
I know how it feels.
It feels like a heavy weight pushing down on your head and shoulders like the almost 15 pounds of atmosphere pushing down on us.
It causes us to worry.
Do you have school loans?
Home mortgage? Is it too high? Lots of young people are buying beautiful homes for their first home and the weight of that debt is incredible.
I have seen pictures shared across the internet of the inside of young people’s homes that are only a dream for me!!
Then there is the credit loans.
Home equity loans.
Medical expenses that pile up.
Can you relate?
When you have incredibly high loans for school, car, or home loans, it can be almost impossible to buy groceries or have some spending money….so many of us put it on credit!!
We have to live somewhere. We either rent or buy a home. The thought being that if we rent, we are throwing away our money.
Unless you bought a home far above your means and you might lose it because you can’t keep up with the payments, just don’t worry about getting out of debt on your house first. It is a huge tax deduction.
- Pay off the debt with the smallest monthly amount first.
- Pay the monthly amount on all your other debts in the meantime.
- STOP charging for food, small items, or anything else for that matter…or your credit bill will keep rising. Don’t be fooled. Paying the minimum amount on a credit card will keep you in bondage forever. It will never be paid in full that way!!
- When you have paid up one loan, move to the next highest loan and start paying it up. Repeat. Repeat. Repeat.
- When you are paid up on all your debt. Start the habit of SAVING!!
If you are married, and you are the wife, there is a caution for you.
Do NOT do the above if your husband is NOT on the same page.
If you get your husband to agree and he keeps buying cars, boats, four-wheelers, and other things on credit . . . I hate to break the news to you, but he isn’t on the same page as you!!
Submitting is sometimes following your husband into the brick wall. Better to smack into the wall together. It doesn’t accomplish anything if your husband smacks into the brick wall while you fall into the ditch because you weren’t with him as he led.
You might say, “But my husband is not leading.” Well, I would have said that too a few years ago. I finally realized that NOT leading IS leading.
It is hard but you must follow!!
It Might Take Years
Living debt free is a habit and one that is not easy in the society we live in today.
If you are living in debt, I challenge you to take inventory of your bills and expenses and make it your goal to move in that direction.
Do NOT give up no matter how long it takes. It is well worth it. Living financially free should be our goal!!
Did this encourage and bless you? Share how it did and you will bless others who drop by.
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