If You Don’t Have Money, Don’t Spend It!

This is one of the most basic principles you can follow when trying to get yourself out of debt and/or save money. If you don’t have the money, don’t spend it! This may sound straightforward enough, but at a time when the average U.S. Household has over $9,000 in consumer debt, it simply cannot be stated enough. We live in a world of credit and debt, which has unfortunately become the norm. We figure if everyone else has debt it can’t be that bad, right?

But where to start? That’s where we can help. We help clients develop a budget and a system for eliminating debt. We help our clients to prioritize so they can easily determine whether a purchase is necessary or if it fits with their goals. And we help them build up savings so that if an emergency or repairs come up, they don’t break the bank. Our mission is to “Reclaim America’s Financial Freedom.” It may sound like a lofty goal, but we believe that it can be done. It starts by helping individuals and families get their finances in order.

So what is the best way to avoid debt? If you don’t have the money, don’t spend it! Only use your credit cards if you are going to pay the entire balance (on time!) each month. And evaluate your purchases before you head to the check-out line. Do you really need each of the items in your cart? Could you put a few back or not put them in your cart at all and instead put that money towards paying down debt? Keep your long-term goals in mind as you shop. Realize that when you spend money you don’t have, you are basically putting yourself into slavery because you will have to work to make that money at some point.

If you have questions on ways to save money or get out of debt, you can email us at coach@imoneycoach.com, check out our home page, follow us on Facebook or Twitter or call us today at (303) 462-2001. We care about people and want to see you living a life you love, free from the strongholds of debt.

Tags: get out of debt, save money