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Debt Free Living
by Michael Russell
Living a debt free life is the dream of just about everyone. For those who are now living a life without debts, you are truly blessed. Did you know that in 2005 the average American carried approximately $8,000 in credit card debt? Most everyone i

Living a debt free life is the dream of just about everyone. For those who are now living a life without debts, you are truly blessed. Did you know that in 2005 the average American carried approximately $8,000 in credit card debt? Most everyone is living from payday to payday. If they miss one or two paychecks they are most likely headed to bankruptcy.

Living a debt free life is not easy, but it is one that we can all have with some discipline and effort on our part. Here are some quick tips on how to get out from under that mountain of debt in your life and begin to get on the road to a debt free lifestyle.

Getting Started

When you are just beginning to get out of debt remember to take things one-step at a time. It will not happen overnight. You can't do everything all at once. Pick out one bill each month and pay more on it, or pay it off entirely. By taking this approach you won't burn yourself out. It may seem at times like you're not getting anywhere, but you really are. Think of this in the same context as dieting. You can't lose 25 pounds in a week. It takes time, but if you stick with your diet, you will lose the weight.


Setting goals and making a commitment to sticking to them, are a big key to living a debt free lifestyle. Take the time to sit down and write out your financial goals. Let's use grocery shopping as an example. Start by deciding on a weekly grocery budget. You then make your grocery list out for the week, clip coupons and only take enough money to cover what you budgeted. You will be amazed at the results.

People waste so much more money on things at the store they never intended to buy to start with. Grocery stores make this so easy to do. Another good point is to eat out less. Cook at home more often and spend time together as a family. Make up a weekly dinner menu and stick to it. Eating at home more and eating out less, will help you save more of your money.

Make Small Sacrifices

In order to become debt free you're going to have to be willing to make some sacrifices. For example, you can simply bring your lunch to work instead of going out to the local burger joint every day. By just doing this you can save a great deal of money each week. This is just one example of many different things you can do to save money every month. Sit down with your spouse and make a list of your own. This can help you become debt free in a much shorter amount of time.

Put Away The Credit Cards

The single biggest key to becoming debt free is to put away all the credit cards. Instead of seeing something you want and putting it on a charge card, save the cash for it. You'll be surprised at how this will change your priorities. It will eliminate a lot of the impulse buying. You feel like you have earned it by saving the cash and paying for it.

You may never be able to become totally debt free, but by following some of these tips you can take a very large step towards it. Have patience, stick to your plan and before you know it you'll be in much better financial shape.

Michael Russell

Your Independent guide to Debt Solutions

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