Reduce spendings and source out additional income. Settle your payables on time to avoid penalties and charges. Check how can you reduce your regular maintenance expenses.

It is good that I do not have any mortgage to pay. When we started building our house, it is from our savings. It will soon be finished without us applying for any mortgage and that really helped us in our budget.

Knowing your budget is very important. Do not spend more than what is in your budget. Instead, cut it down. You can have credit cards but be sure that you will only credit what you can pay without paying charges. Review your budget everytime you go shopping or buy groceries. If you think you have already used your month's allocation then postphone it. Buy after the cut-off date to be sure that you can pay all the bills on time.

I was in debt and thought that I would never get out. But I did. I had to really cut back on alot of things. I paid all my credit cards off and then got rid of them. I sat down and made a list of what I really needed and what I just wanted. And only got what I needed. I cooked at home instead of eating out all the time. And I found I feel alot better about myself. I want to tell you it isn't easy, but it is worth it.

That is good advice Taia. Also, if I do not have the cash available, I do not purchase the item.

Be sure that you budget some entertainment for yourself. If you completely deprive yourself of everything "extra" you'll quit on it like most people do their new year's resolutions.

Moderation is the key - but be willing to cut deep if necessary.

That is true, but it is better to pay with cash than credit if you're trying to get the debt paid off.

The best thing to do is not pay anything that doesn't have to be paid. Take care of your clothes, car, and other items so that none of them will have to be replaced. Make do with what you have - ignore the wants for now.

And YES - when necessary, pay cash. If you don't have the cash in hand then don't make the purchase.

BTW - having cash for purchases like groceries will force you to follow your budget and follow a shopping list. Make sure you leave the debit and credit cards at home or you will be tempted to over spend and put it on the card instead of putting items back so that you can afford the purchase with cash.

This is an excellent thread, make sure to check out the tips on the first page.

Hello,


Good thread! It’s really helpful to us.



Bye