Tips On How To Get Out Of Debt!

Times are wobbly and we all wan to get out of debt! But it's not as easy as we want it to be, right? Well you have to start saving money now to get out of debt, have a good retirement and send your children to college, possibly.

Whatever it maybe that you want to do, then it is time to start saving now. I love to spend money but in order for me to retire and enjoy my retirement, I have to start saving NOW. I have listed a few things that you can do to start saving. It will make a BIG difference in your life, I know, I am doing it now. I just started later in life and wish I would have started earlier! .

How we begin this journey, my husband and I sat down and went through all of our finances and money, what is coming in and what we are paying out each month. We found out that we were spending a lot more then we were making. We knew then that we had to start saving money now. We created a household monthly budget and started living within our means. Over the last few months, here is what we have done to start saving money.

How To Save Money;

1. Cut up all the credit cards, credit card debt can destroy a family. Debt consolidation is often a very good thing, seek financial help or a financial advisor if needed. Negotiation from credit card debt is critical too! We kept one American Express card for emergencies. Which we have to pay off at the end of each month. We only charge items that we need and know we can pay off at the end of the month. In addition, we each have a debit card for our money usage.
2. Every month we try and pay off one credit card or credit card debt, mostly those smaller ones (i.e. department stores, gas cards, etc…) We found that by paying these off, we weren't paying the APR% that hurts us every month because they are just taking more money from us.
3. Grocery Coupons – this can be a big saving tip if you plan right. I go to the grocery store and buy only items that I have grocery coupons for (well, 90% of the time). I find that I save a lot of money when using coupons for the grocery store. Seriously, I save so much money this way, you need to try it. PS; I get a lot of coupons online, sign up for them and/or search for them…this is where I get the most coupons.
4. How to save money for your family, when both parents work, we all bring our lunches. We have breakfast in the morning at home, then I make lunch for all of us and we take it to work or school. For me, this saving tip does save a lot of money because you can spend more money then you realize eating out everyday for lunch. Believe me; it will save you $20-$40 a week if you bring your lunch or eat at home.
5. Every year, I have an account where I have money deposited from my paycheck directly into that account. This account is our “vacation account” we use this money and this money only for our vacation. This perfect because it comes right out of my check and I don’t see it and we have a wonderful family vacation every year. After vacation we do not have any credit card debt.
6. My son is young and we get invited to a lot of parties. Instead of buying gifts, we usually make them, it sounds bad, but it is a great way to make unique gifts. The gifts we have made have been big hits (we are getting invited to more parties). We are very creative; we have made fishing poles out of old junk to play dough for gifts. Plus, this helps my son think creatively and we save money in the process.
7. This may sound silly but it works and it’s very beneficial for saving money. Turn off lights in your house, turn up air conditioner during the day if you are not home (install a programmable thermostat so it turns up during the day and back down at night, for air or heat). This saves money up to about $30-$40 a month when we keep the lights, TV and other electronic items off and control the heat and air.
8. Look at your bills; make sure that you are paying for what you purchased or used. Check your phone bills, electricity and cable or dish network, cut out what you don’t need and reduce your monthly charges, this adds up so much. By doing this you can save up to $50 if you pay attention to what is being charged to your bills. Review them, it is worth it.
9. Start a 401k, with your company or not, but start and have money from you check go directly into that account at each pay period. You don't see the money, therefore, you are saving with out thinking about it. This is very important, research and do it now, for your future.
10. Reduce your monthly spending; how? pay off your car debt and drive it, having no monthly car payments will help tremendously. Also, pay off a loan debt and take that money and put into a savings account each month. Think outside of the box on how to reduce your monthly spending and save that money.

Here are the items that have helped my family to save money. We all have made the changes and they were hard at first but you will see the benefits within the first month. Then you start thinking more frugal but enjoy everything you have done. In fact, I think it’s important for my son to understand the benefits of saving money. All tips and tricks are different for each family, but try a few and do what’s best for you and your family. Be creative and think through your expenses, know them inside and out. Once you make these changes, you will see the savings creep up and you will be amazed at how much you have saved by simply cutting costs. But most of all do it and save money!