3 top tips to reduce debt and “lift the weight of debt”

Live below your means financially but live above your means with free joy.  Rather than going to the movies, take a Picnic in the park, bike ride, playing a board game or doing puzzle, or sitting in front of bonfire.  Stop trying to buy happiness in new clothing, shoes or other possessions.  Happiness in an inside job.

Change your housing situation by taking it from liability to an asset.  If you own your own home, start renting out your spare bedroom, garage or basement. on your area, you can get $500 a month for a bedroom. Take that money and through it directly at debt, never co-mingle the money with your regular household things.

Rent your garage for $100 a month to a friend who is storing a boat or camper at a public storage place or let a friend rent your basement to set up a gym or for storage.

If you rent, move into a larger space with other people, especially if you are a struggling single parent.  How great would it be have another set hands to help with cooking, childcare and carpooling?

Learn to barter-Get What You Want for Free:  Offer to detail the car of your hairdresser or offer to clean or babysit in exchange for dentistry.   You will be amazed what happens when you ask.

Figure out how to get things you want for free or second hand. I love Craigslist and ebay for this kind of thing.  Go to the library to read a magazine rather buying it.

 And a fourth little quick one, sell your gold jewelry you longer love or want.  Gold and silver is at an all time high right now. I got shocked when I got $800 for a little baggies of jewelry I didn’t want anymore.

 

 

3 Responses to 3 top tips to reduce debt and “lift the weight of debt”

  1. Money does, indeed, buy happiness. I find that I am happier in life in general if I have the money to not worry about bills and to be able to help others when they are in need. Money can buy happiness for a lot of different reasons for many different types of people. And different amounts of money will do so many different things and make so many different levels of happiness that there is defiantely no comparison to only renting happiness! If I had a measly 15K I would be out of debt and as care free and happy as any person would ever be! So, if you would like to buy me some happieness as a test please let me know and I will give you my Pay Pal account to send it to!!!! J/K!

  2. There certainly is a broad scope of topics here at Frugal Living Freedom. When you think about it, money permeates so very many activities in our lives, therefore, being frugal encompasses a wide range of interests, from being employed to taking a vacation, and just about everything in between. Enjoy the variety, pick up some new ideas, and start making frugality a part of your signature.I’m a big proponent of being debt-free, and I mean entirely debt-free – no mortgage payment. It’s not essential for financial freedom, but you’ll love the feeling once you get there. If you didn’t have a rent or mortgage payment, how much more could you do for yourself with your current level of income? I suspect plenty. If you ever hope to see an abundance of wealth, you need to plug the hole in your boat. The wealthy don’t necessarily make lots of money, instead, they know how to hang onto what they make, and make it work for them.

  3. Jaclyn Bray says:

    This is my idea of the small house movement. I have lived in one of these 5 times in my life with and with out my 5 children, a cat and a hamster… ( well you know how that turned out with the hamster) We were in Alaska in the winter when we lost the hamster. Anyway,we are in the process of downsizing again to a 8 x 36 foot long fifth wheel. 288 sq. ft. Its a fancy camper, complete with fireplace, surround sound, built in vac, computer desk and stack washer dryer, even a King sized bed and cedar lined closets. I admit it has more than we need, the fireplace and the surround sound are a bit over the top, but it came with the unit. what I love best about it.. is if you get bored with the scenery, the weather or the neighbors or your job changes it is easy to move! No realtor. just hook up and go! This “home” has plenty of room to store everything we actually need. I wish they built storage in homes the way they do thse things. I think that may be why I keep going back to them is the wonderful unique storage. Oh yes then there is the : No lawn care, no electric, sewer, water, garbage bills. That is all in the cost of the “recreational vehicle” RV camping Park lot rent. The only bill is propane for cooking and when it is cold for heating. Of course the cost of the unit, Plates and insurance.

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