Do you know the minimum amount it takes for you to live or survive each month? Is it $2,000, $5,000, $6,000? Getting out of debt is wishful thinking if you do not get serious about knowing exactly what money comes in and how much you spend each month.
If you do not track your receipts or spending, how do you know how much you spend on lunch, dining out or entertainment? What about that cute pet, how much does it cost you each month or year?
One thing I know for sure, you should start tracking "all" your money if you don't. Determine what it cost for your lifestyle to operate. If it cost too much, scale down. If it cost a little, pay more debt, save and invest the difference.
What about you, do you track your money? How much does it cost to operate your life?
It's a pain, but everyone needs to do it
July 22nd, 2008 at 04:59 pm
July 22nd, 2008 at 05:38 pm 1216748318
Now I have less money going out now that the debts are paid off but lifestyle has not changed much. (Except pre marriage when I had time to work more than one job). I also ended up loosing my desire to purchase things I thought I wanted once I got out of debts like cable TV and the like.
But in the future my wants or needs may change again that will cause me to re-evaluate my monthly expenses.
July 24th, 2008 at 04:47 pm 1216918036