Suburban Homesteading – Frugal Living

Personal finance gurus have been arguing about debt since the dawn of time. Should you have debt? Should you be debt free? Is there good debt? Or, is all debt bad? The debate rages on.

And, on and on and on.

But, there is one sure thing…anyone who has been in debt and is NOW out of debt will swear the being out of debt is a whole lot better. There is peace of mind, the feeling of being in control, the feeling of accomplishment and flexibility to do things you weren’t able to do when debt loomed overhead.

If this is a frequent conversation or thought at your house, as it was at mine, then start the New Year off with a goal, and a plan to work towards being debt free in 2016.

To start off, review your household expenses and see where you can make cuts. Sweat the small stuff because they can become big expenses over the course of a year. Remember, reduction isn’t depriving yourself it’s working towards freeing yourself from the yolk of debt, worry and constant payments.

Here’s a few simple, and painless, ways to get started. Once you get the hang of things you won’t want to stop until you owe nothing to nobody. As an incentive, I’ve included how much I save by making these changes.

• Cut cable service – Save $960/year
• Switched car & home insurance providers – Save $300/year
• Packed my lunch – Save $2,600/year
• Eat breakfast at home or take to work – Save $1,560/year
• Made tea at home – Save $500/year
• Bought clothes at consignment or thrift stores – Save $1,500/year

THAT’S $7,420 A YEAR!!!

Imagine if I put that towards the principal on my home mortgage??!!

That sure makes the New Year look a whole lot brighter.