By Ira Bowman
Are you drowning in debt, always behind on tasks, tired all the time and frankly miserable? There are far too many people with good intentions who suffer from one or more of these conditions. Life is hard and you are certainly not alone. Fear not because you have stumbled upon a man who used to suffer from all these things. I am going to share with you some simple life hacks on how you can significantly improve the quality of your life without spending any extra money.
Drowning in Debt
There are three things you need to know that will help you get out of debt quickly and permanently.
- Make a budget and stick to it. I know it sounds like being locked in a cell, but you have it wrong. If you budget your money correctly, it’s the single most freeing thing you’ll ever do. Do you feel guilty when you spend on an indulgence? If you make a budget that properly accounts for all your income and expenses, and the indulgence is included in the expense, then you can enjoy guilt-free.
- Credit Cards are not your friend. If you have multiple cards, pick the one with the lowest interest rate and save it. Cut up the rest. Now pay the minimum payment on all but the highest rate card you have each month. Pay the absolute most you can on the highest interest rate card until it’s paid off. Continue this process until all your credit cards are paid off. Don’t sign up for any more credit cards, ever. If you don’t have the cash, you don’t need it.
- You don’t need to keep up with the Jones family. Seriously, stop buying name brands and start buying value. Learn to shop for items by the unit. When I go to the store, for most things from food to clothing, I look at the cost per unit. To be clear, let’s say I’m looking to buy some cereal. I’m looking on the shelf at the price and underneath the total price, there’s a smaller number that says the price per ounce. I usually buy cereal anywhere from $0.11 to $0.19 per ounce. Many of the name brand cereals are $0.39-$0.45 per ounce.