Take 'Debt' Out of Your Financial Vocabulary

Do you want to know the secret to paying off debt? It’s not getting into debt in the first place! And while you may think that debt is just a part of life nowadays, we’re here to tell you it doesn’t have to be. You can be living a life of financial freedom and no debt by using the following practices.

Stay Out of Debt

One of the main reasons people get into debt is simple—by spending more than they have. And we’ve all been there. We go to the grocery store hungry, and leave with a grocery bill much higher than planned. A consignment sale comes to town, and we buy more than we would at a regular store. There are chances everywhere to overspend. The key is to make overspending as difficult as possible.

One way is to make lists, especially for grocery shopping. Write down your needs for the week, and then only purchase what’s on the list. This means if it’s not on the list, then it’s not needed. You want to try and cut out compulsive buys that happen with your eyes and not your brain.

It’s important to make sure you and your loved ones are on the same page, too, when it comes to your financial goals. If one person is trying to save, but the other is constantly spending, there will never be a happy balance. Keep the lines of communication open and put each other on a budget. This way you are able to meet your financial goals as a team! Plus, you can be there to support one another when an urge to overspend does happen—and it will.

Knowledge is power. Read everything you can about money, such as money management tips, ways to boost your credit score, how to save for a down payment, etc. Don’t feel like you have time to search for those articles? No worries. We make it easy! Just LIKE us on Facebook, or FOLLOW us on Twitter. New articles are posted every day that can help you when it comes to your finances!

*Since you’ll no longer be paying off debt because you don’t have any, you’ll have more money to save! Visit our website at www.firstvolunteer.com to learn more about our various personal savings options.*