How to be debt free?

 

Its payday, and you got nothing? Most people are experiencing scarcity of money, specially now, that recession is everywhere. Some, may opt for a financial loan, just to be temporarily financially stable again. However, don't you think borrowing an amount of money, can sometimes lead into another financial devastation again? We'll, maybe not for all, but I guess most people do. Applying for a loan, is another way of putting a debt into your pocket instead of money. The golden rule would be, as much as possible, do not tempt yourself to borrow money from a lending company or apply for a financial loan, not unless, otherwise you are really in need, and there is nothing left to sustain your necessities.

Some, may say, "but my salary is low?!" The answer would be, to cut your expenses down. Be wise in spending your money. Do not buy things that are not necessary at all. Let's say, your cellphone can still be use, then do not buy another one just so you will have the latest unit in town. As for foods, eat only three meals a day, and mind you, those are the most important ones (breakfast, lunch, dinner). Snacks won't be necessary if you have feed yourself at a proper time and of course with only healthy foods. For clothes, I'm sure you got tons of it on your closet. Check it out one time, and you'll see you still got the best. Cars? One is enough, not unless you got a big family or your wife needs her own so she can go to work safely and conveniently.

The truth is, there is no such thing as a low salary if only you know how to handle your finances well. I suggest you keep maybe three to five empty jars in your house. Label each jar according to your needs. One could be for your bills, another one for the things you want to buy, one for travel, and one for savings. You need to set a realistic goal for yourself, and set a certain percentage for each jar. Let's say, 50% of your salary will go to the jar for bills, 10% for travel, 20% for savings and 10% for other things. All you need is a little discipline and you got a long way to go! Little did you know you will wake up debt free!