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CHAPTER 7 Keeping Your Spending to the Minimum
Let’s start thinking about all the ways you can keep your spending to the bare minimum.
This will speed up the amount of cash you can use toward your debt payoff process.
I’m going to give you some suggestions a little bit later, but right now, let’s think about some ways you can reduce your costs.
Consider your insurance premiums, your automobile costs, possibly your housing costs, your food and entertainment expenses and even a few ways to save some money when you buy clothing and other personal and household needs.
You want to concentrate as much of your money as you can into your bill payoff process.
I’m not saying that you should not go out to the movies or stop going out to dinner. I want you to consider the short-term sacrifices that you make today, will pay off in the long term.
So for instance, delaying short-term gratification to some extent will only help you get to your debt-free status a lot quicker.
If you feel it’s OK to make that trade today, by all means, go ahead and go out to dinner.
On the other side of the coin, there may be the urge to completely cut out all of forms of entertainment from your life for the time being.
This is the Kiss of Death, because you will become frustrated when you cut out all forms of entertainment, that it may make you quit your plan altogether.
So be sure to indulge yourself every once in a while - just make sure the trade-off is worth it to you.
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