Are you desperate, frustrated and overwhelmed that your bank account is overdrawn again? Did an unexpected bill or repair put you behind? Do you pay your credit card and then look to see how much you paid it down so you can buy some groceries?
We have been in this situation and know how stressful it can be. Financial stress can really impact ones quality of life. If you want to eliminate or reduce that stress, this is a good time to consider making changes to improve your situation. One thing we did was to stop digging the financial hole. We had to figure out a way to make ends meet without breaking out the credit cards.
One thing to consider is your perspective may be wrong. My car was damaged in a car accident after my divorce and remarriage. The temptation was to whip out the plastic and get a rental car because I had to get to work. The less expensive solution? Freezing my behind off at the bus stop and learning the bus schedule. I did that until my car was repaired. To stop digging a hole you have to be committed to putting the stressful life of financial insecurity behind you. Now that you’re ready to move forward, you have to live like you’re serious about getting out of debt. What do people with limited resources do? Well, in example above, they take the bus. They eat pasta, rice and beans. They work over-time when it’s offered. They drive the old car long after most Americans would have replaced it. They buy generic brands at the store and shop at Aldi and other discount grocery stores. They cook their own food as opposed to eating fast food or dining out. These are a few tips that helped us get out of debt, pay off both cars and pay off our house within 10 years.
