Finances

Give Up These Things and Get Out of Debt

I just finished watching a TV show that showed a person’s mansion.  Oh my goodness it had a double layer pool (never even heard of such a thing), cryogenic chamber, cryo pool, sensory deprivation chamber, amazing kitchen with some sort of special chamber to grown fresh herbs every four days.  All I could think while I watched that video was that it was just too much.  It wasn’t even about the money – it was just too much of everything.  Why?  Who could possibly need or use even half of what this person had in his mansion.

Meanwhile the rest of the world struggles with debt and how to get out of it.  There are times where you may need to make really drastic changes to get out of debt even a little bit.  Other times, you can try to beat down some of the debt before it gets out of hand – when it isn’t so painful to try and survive it.

Suggestions to pay down debt

  • Books – the best investment I ever made was in a Kindle.  You can pick one up really inexpensively and if you are an avid reader – well worth the investment.  There are so many resources for free downloads with Amazon Prime – you literally would never run out of things to read!  A paperback these days can easily run $10-$15.  A Kindle Paperwhite can be purchased for about $120 or even less if you search for refurbished or used.
  • Music – If you purchase a Kindle Fire you can even listen to music free, have access to your free books and and have free downloads with Amazon Prime.
  • Movies – Again – Amazon Prime.  This isn’t really a post about Amazon but there are so many resources with one simple subscription which help to eliminate the need for spending elsewhere.
  • CableDitch that Cable.  There are so many options to stop spending money on cable and you can even have greater TV/Movie opportunities for less money.  Just do some research and see which combination of services will be best.  Some options include:  Amazon Prime, Netflix, Sling, Hulu etc…
  • Eating Out – If you have a habit of eating out, stop.  Or at least do it far less often.  We used to buy pizza every Saturday night.  We still have pizza every Saturday night but either – frozen and heat up at home or make from scratch.  Far less expensive and the homemade version is far better tasting!
  • Cell Phone Plans – Give up those cell phone plans and participate in a “pay as you go” option. Research which service will meet your needs best.  Some options may have better or worse reception in your area.
  • Hair Care At Home – I don’t bother with hair salons if I can help it.  I dye my own hair; cut my own hair; cut my kids hair and even the dog’s!  Even my 14 year old daughter has been cutting her brother’s hair and my hair since she was 9!  You can learn anything on Youtube…
  • Hand Soap – We have hand soap dispensers of course in our bathroom but I refill them with bubble bath!  The kids love the fruity scents and I don’t have to fight with them to wash their hands.  To save even more I can and do sometimes use the foam soap dispensers and fill those with bubble bath.
  • Laundry Soap – We have a large family and one thing I have always hated buying is laundry soap.  With four generations under one roof, three dogs and three horses – I can definitely live without that expense.  I make my own laundry soap and it lasts for a couple months for pennies!
  • Free Classes – Do you have a desire to take classes?  Learn new skills?  Well, check out Youtube, Udemy, Coursera, Khan Academy and more.  There is so much to learn and it is literally right at your fingertips.
  • Free Entertainment – I am always looking for fun free things to do in a 20 mile radius.  There is literally always something.  And when there isn’t – try things like hiking, geocaching, and more.  If you love horses – find a barn and see if you can work off horse lessons!  Let me tell you – barns never have enough help and often never have enough support for all the horses.
  • Second Hand Stores – Don’t bother shopping at retail establishments and paying top dollar.  Search second hand stores first.  My favorite stuff to search for is Pyrex!!!

There are so many other great opportunities to give things up without losing anything!  Sometimes however, you will find yourself beyond the ability to give up some things to get our of debt.  It is times like those that you will need Strategic Financial Solutions.  Seek help and stop struggling.

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