Perfectly Imperfect Family and Finances

Posted By Mr. Imperfect on June 25, 2009

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At some point in life most of us have experienced the aggravation of having to live from one paycheck to the next.  By the time the next paycheck arrives, you are already broke.  When the new payday comes, most or all of it is already spent.  There never seems to be enough money just to put food on the table and cover the normal household bills, let alone provide for any leisure or luxury.  There will come a time or an event in your life, a catalyst, that will make the change that needs to take place less painful than continuing on your current path.  When this happens, here is a good way to get started on your journey off of the payday to payday cycle.

• The first thing that you must do is get on a budget.  Do not let this “b” word scare you.  I can honestly say that one of the most important steps on our journey out of debt was creating and sticking to a budget.  Bob over at Christian Personal Finance has a great article that list 7 free printable budgeting worksheets that is very handy when you are just beginning.
• Next, look for any place in your budget that you can save money.  Do you really need a  house phone and a cell phone?  Is cable/satellite TV really a necessity?  Are you watching your “phantom” charges from appliances and other electronics that are seldom used? Are your windows and doors sealed for air leaks?  For more ways to save money each and every month click here.
• After you have pinched every penny from you current income, if you still do not have adequate capital to make progress with your debt reduction, it may be time to look for ways to increase your income.  Do you have a unique set of skills that you could market for extra income?  Are there items in your residence that are no longer in use that could be sold at a yard sale or on Ebay?  For a list of ways to make some extra money check out this post.

We can encourage you that it is a process worth undertaking.  Using the strategies that we have listed on this blog we have eliminated two of our monthly bills, we will eliminate a third within the next month, and we are on track to dispose of over 40% of our total debt this year!  Using the strategies that we listed in our Making extra money post we doubled (yes, I did say double) our income in February this year-and it has stayed the same since.  No matter how big the obstacles seem, there is hope.  Will the task be easy? Probably not.  Most things worthwhile are not.  Will people criticize and judge/discourage you? You bet.  We could not even begin to count those that have told us we were fighting a losing battle.  They have repeatedly told us that debt is just a way of life.  We even bought into that lie until we seen that there are a select few that are living debt free.  That is the life we are choosing to live.  Will you join us on this journey to financial freedom?  Please drop us a line and let us know what stage you are in, what goals you have set, and any strategies you have in place.

As always, thanks for reading and have a great day!  Have a question or topic your would like to see covered?  Leave a comment and we will respond the first chance we get!

• Eliminating Debt in 2009 Part 2 Extra Income
• Comparison Shopping
• 100 Ways in 100 Days-14: Seal Air Leaks
• 100 Ways in 100 Days-13: Fill Your Freezer
• 100 Ways in 100 Days-12: Remove Items in Groups from Refrigerator
• 100 Ways in 100 Days-11: Use Ceiling Fans
• 100 Ways in 100 Days-8-Use a Toaster Oven
• 100 Ways to Save Money in 100 Days-3: Air Dry Clothes
• 100 Ways to Save in 100 Days-1: Unused Appliances and Electronics
• Get Ready for 100 Days of Saving Money

Category: Finances, Personal Development, Saving
Tags: extra income, make money, paycheck to paycheck, save money, save on expenses