Debt Free Club - Learn Financial Discipline!
It hasn't take much for people to realize that if you can't pay cash from something, then you really don't need- especially within the past couple of months with the fluctuation of the economy. Of course there are exceptions to this such as mortgages, college tuition, and MAYBE a car payment. Credit card debt for a pair of shoes or a new computer when the old one works just fine is doing nothing but adding to your debt. And if you're like a lot of people, that debt soon adds up until you're so far in debt that you may start to think how and if you will ever be able to get out of debt. Fortunately there is a way for you to being debt free- even in a year or two.
If you truly want to be debt free in a year or so, the first thing you need to do is have discipline- that is distinguishing between needs and wants. Needs are things we absolutely have to have for survival. Wants are things that need but are higher and better quality than the things we need such as a brand new car instead of used, skinless boneless chicken breast instead of skin-on, bone-in breasts that are cheaper… those kinds of things. Then there are desires- things you don't need or want but get just because you want to, even though you can't afford it. Keep in mind that if your debt ratio is higher than your income ratio, you need to learn to discipline yourself to control the wants and desires. Learn the difference, and keep in mind these two things: If it isn't broke, don't fix it- or in this case buy it. Second, if you can't pay cash for it, then you don't need it.