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Debt Free Living Instagram | The Main On Main – Everybody wishes to have wealth, to be rich and live a comfortable lifestyle. We are living in a society which dictates our achievement and future by how wealthy we are.

We strive hard to operate smart, spend and create positive progress in lifestyle that will lead us to the perfect path because we meet all our targets and aims in life. We sometimes ask for soft loans from friends, family or Sacco group and sometimes apply for loans from banks.

How many of you are now fighting debt? Perhaps it’s from student loans maybe it’s due to credit cards. No matter the reason may be, this must be the year that the debt free living becomes a priority. This should be the year that you let debt goodbye for good.

We can talk about how we want debt free living, however, it takes more than simply talk. It requires action. Kicking debt from your life isn’t as difficult as you may think. It only requires a solid strategy and a lot of dedication.

Debts can seriously violate your financial progress and also cause you to wallow in the swimming of doubts and hiding from your friends or cooperatives which you are owned. So what do you really have to do in order to begin your trip to debt free living? It is simple, you will need to follow these eight steps.

Step 1. Understand that you have invoices to repay and pay them enthusiastically

As long as you live in the modern world, you’ll have bills to repay. When you get your accounts, kindly take a bold step and pay enthusiastically. You ought to be prepared to settle that which you are owned.

It’s an issue of fact which you shouldn’t pay unnecessarily. In the event you cover painfully, you’re simply dancing to the tune that the cash is tough to buy and you aren’t happy with the turnout of items.

Step 2. List out all of your debts

Start by listing out each one of those debts by their own rate of interest. The highest rate is going to be on very top of your list. Why? As it’s the debt costing you the most money every month.

Now you have everything on paper, you now have a visual idea of what is before you. You’re able to see that debt you are going to focus on first, next, and so on down the list.

Step 3. Start setting up an emergency fund

Do you have an emergency fund set up on your own? Otherwise, it’s time to get a savings accounts.

Emergencies are bound to happen to most people. It might be dental work that insurance will not cover. By having a rainy day fund, these surprise expenses won’t cause a significant setback to your financial plan.

How much should you have on your emergency fund? Some folks will tell you that you want three to six months worth of expenditures. Though this is a great long-term goal to have, it’s not reasonable whilst paying off debt.

Rather, start off small putting away money every month until you have $1,000. This is an excellent place to get started.

Step 4. Put your bills on autopilot

We’re all looking for ways to simplify our lives. Automatic payments are one of these ways. Instead of making a payment each month on every bill that you have, you may set it and forget it.

There are numerous benefits to automating your lifetime. Not only will you make things considerably easier for yourself, however you will reduce the probability of using a payment. The last thing you need as you are working so tough to pay down debt will be a wasteful charge.

Step 5. Downsize your life — temporarily or permanently

The last thing many of us need to do is remove the things we like. But, there are occasions when it is the best action to take.

Start with taking a look at the financial plan you made earlier. Are there things you might do with, even if it’s only while you are paying off debt?

What on your cable tv? Did you know the typical price for DirectTV is almost $101 a month? With alternatives like Sling TV or even Netflix, you may cut the cord and never return.

The average American will pay $232 a month eating a meal beyond the home. What if you cut this in half? The extra $116 each month could be very useful for your debt payoff program.

Step 6. Move your credit card balances

Many of you have probably ditched your charge cards at this point. But you might be surprised to know that a credit card may really be to your benefit.

In case you have several high profile accounts, you may use a balance transfer to move everything to a single card. This will help you pay off your debt with no accruing finance charges on the way.

Step 7. Track your spending

The key to living a debt free existence will be to clearly understand how much you really invest and how much you save in the same moment. You have to monitor your cash flow and at the end of the day that you will be able to know and have assurance of your entire fiscal spending.

Step 8. Have a look at your own insurance and review it

Financially and debt advisors consistently tell their customers to be keen in their insurance and review its strategies consistently. You need to appear at your life insurance requirements. You need to follow it to test it covers over 10 occasions of your earnings. When you have children less than ten decades, then the life insurance should also cover on debts incurred from the larger family.


These are the most proven ways that will easily assist you get out of the debts. You will need to come up with a plan and understand that invoices are there to be settled. Whatever money you borrowed, so be eager to pay according to the order of arrangement and not about pilling debts because they will come to affect you later in your life.