Why living debt-free is not impossible

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Most people have a true desire to save money, but because we live in a society where savings is easier said than done, it can be a challenge. Society thrives on the ability to receive instant gratification, this has been heightened by the increased use of technology.

Long gone are the days of waiting to have to save until enough money has been accumulated to buy a big purchase. If a person impulsively wants to buy, all he or she needs to do is whip out a credit card and buy the item(s).

Transactions are conducted and processed quickly with little effort. This often spirals into heavy debt. Eliminating debt is not easy, not by a long shot, but could be entirely possible if the right commitment is made. Here are a few steps you can take to ditch the debt.

Avoid online shopping

The ability to shop online wasn’t always possible but as the decades pass, no longer is it a novelty, it's the norm. While undoubtedly there are benefits, instant credit also has contributed to high debt for many people. Consumers don’t even have to think too much about it. As a result, credit cards, loans, and other financial debts are easily incurred. People often they don’t even realize it's happening.

To live debt-free and be financially free, it's important to invest time and exercise both patience and vigilance. This is the first step.

Stop using credit cards

The first step is to alter the mindset of thinking buying on credit is a good thing if you tend to overspend on your credit card each month. Sure plastic is convenient, but if the money to pay the bill when it arrives is not in your bank account, then the purchase shouldn't be made because the interest will keep the debt flowing. If you find you are struggling each month, use credit sparingly. In other words, only in case of a true emergency.

Make a budget and track your incoming and outgoing cash flow. Are you in the black or the red? If your bottom line is in the red, this means you want to make the extra effort to paying down existing debt and make a sincere and firm effort to not accumulate new debt.

Eliminate unnecessary expenses

If you want to remain debt-free, a good idea is to make changes in your spending habits. First, eliminate any unnecessary expenses. For instance, is it really needed to have an expensive mobile plan, or would your budget be better served with less? Does your pricey TV plan have too many channels and no time to watch them? If so, this is a great place to scale back. Look into streaming services instead.  What about utility bills, can you detect any waste or other ways to cut back on use.
By reconsidering routine expenses, many unnecessary ones could be eliminated. This is money saved to contribute to your goals of financial freedom.

Reshape financial goals

Reshaping financial goals is an important commitment to achieving a debt-free lifestyle. To succeed in living debt-free, it's worth the effort to sit down, make a plan and then commit yourself to follow it. It is entirely possible to live without debt, but it does take effort.

Reaching the point of being debt-free is sometimes a hard objective to reach, but once there, the ability to remain free of financial obligations is feasible when the right routine and habitual changes are made. While sometimes hard to get there, once you arrive, living debt-free is not impossible if you’re willing to make the commitment.