A personal budget is a list of numbers. It’s meaningless unless you do something with it. To Set a Course to Be Debt Free, take your budget and look at it. Analyze it. And ask yourself this simple question: “What can I slash and burn?” Once you know where you are spending your money, you can use that knowledge to cut expenses. You can:
- Cut your food bill;
- Reduce your car costs; and, most importantly,
- Follow our money saving tips.
You must cut your expenses, or increase your income, because that’s the only way for you to free up cash to start paying off your debts.
Spending less to increase your monthly cash flow is a key step towards becoming debt free.