If you want to become debt free, one of the first steps is to stop using/abusing your credit cards. To most of us, including me, this is complete shocker.
You're probably asking:
I can't charge anything?
How will I live?
This is a real wake up call. For me, I soon realized that I couldn't actually afford my lifestyle. The first change I made was to either pay cash or use my debit card for all of my purchases. This forced me to make hard decisions. If I didn't have the money in my account, I wouldn't buy it.
Simple enough.........to say that is. But not that simple to do. I had to undo decades of habitual overspending.
Time to start making choices. So what would I cut out? There were dozens of adjustments I made, but here are a few:
• No more Starbucks
• No more impromptu lunches out with friends.
• Probably don't need that Netflix subscription.
• Say goodbye to HBO.
• Whole Foods is WAY TOO EXPENSIVE and off the hit list.
• Costco is my friend.
• Instead of turning on the heat, I put on a sweater.
• Cancel the cleaning lady and the gardener. Sunday is family cleaning day.
• Do I really need the extra soft toilet paper?
• I LOVE generic everything!:-)
The most interesting by-product of these changes was that I started living more consciously. Every decision was challenged. A distinction was made between my needs and my wants.
I have a greater appreciation for the thriftiness of my grandparents. I used to make fun of my grandmother for delicately unwrapping presents in hopes of trying to re-use the wrapping paper......well....I still laugh about that one. Some things really are ridiculous!!
Stay tuned. Stay afloat. Wealth and freedom are in your future.
Jonathan
My name is Jonathan Grossman and I am a 40 year old regular dude living in Los Angeles with my family. For the past 10 years I have been running my own company, Jumbo Music Group. I compose score and write songs for TV and film.
Little know facts about me:
1. I love the Beatles and can fill more than 2 hours with Beatles' stories and trivia.
2. I broke my foot so badly in high school that the doctor said I had a 20% chance of losing my leg from the knee down.
3. I can stay up for 2 days without sleep if I am inspired by my work.
4. I won a rib eating contest consuming 27 beef ribs in one hour.
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