Are You a Slave to Debt? Land of the Free and Home of the Brave?
We Americans are proud of our freedom and our opposition to tyranny and slavery, but because of lack of self discipline, most of us are not free at all. We are enslaved by our emotions and our debt. Most of us would never consider agreeing to become indentured servants and yet, by our own lack of self discipline, many of us have sold ourselves into slavery. Have you ever thought about the fact that indentured servants usually had to work 7 years for their freedom and people who claim bankruptcy have black marks on their credit for 7 years? Are you a slave to debt?
By now all those well meaning New Year’s resolutions have flown out the window, but don’t despair: all is not completely lost. Here are a few money saving tips and ideas that will get you back on track, save you money and will actually work.
You say “I don’t want to be a slave to debt but I don’t know where to begin.” Just begin. Don’t over-think it. You don’t need to be a rocket scientist to know that you have to stop spending more than you earn.
Have you ever told your child to go pick up the toys in their room only to have them start whining and crying, “But I don’t know what to do.” It’s frustrating to hear that in a child because you and I both know an eight year old knows he’s supposed to put his toys away and his dirty clothes in the hamper. He just doesn’t want to do it. That whining and excuse making in an adult is even harder to take. As in a child, it’s just an excuse to get out of doing something we don’t want to do. Stop spending more than you earn.
Stop living a life of fear. Remember if you’re an American you live in the land of the free and the home of the BRAVE. There are two things that always amaze me. The first is grown adults that cower before a child a quarter their size and who is throwing a fit while demanding to buy a toy. The second is to watch a grown adult cower when looking at a desk or table piled with papers and bills. It’s just a bunch of paper, not a snake that is going to reach out and bite you. Be brave and start dealing with the papers and bills. Get them in order. Yes you may have to face some mistakes and things you don’t want to think about, but do it anyway. Then get on with your life. You don’t have to be a slave to debt! Learn from your mistakes and don’t make them again.
Here are a few suggestions to get that overwhelming pile of papers under control:
Quickly look at each paper and lay it into one of these 4 categories:
- TRASH – Throw out and/or shred immediately.
- FILES – Put in a box and set by file cabinet to sort and put in order some other day.
-
BILLS – Sort them in order by the date that they are due. If things are really out of control write down a list of all your bills and how much you owe. This will help give you a reality check of where you stand with your bills. You need to be brave and honest with this.
Using some common sense, start paying those bills. Pay your bills first. For a while, that may mean you have no money left for fun and entertainment, but that is the sacrifice you make for freedom.
- CORRESPONDENCE – Put correspondence in a pile. Read and deal with it after you have your bill pile out of the way.
If you are a slave to debt, it’s time to get angry and say enough is enough. I will no longer be enslaved and start fighting for my freedom from debt, even if my biggest enemy is myself!
Jill
From: Dig Out Of Debt. For more easy and practical ways to save money and get out of debt, check out Dig out Of Debt and learn more about how to keep more of your money and free yourself from being a slave to debt!
photo by: andresrueda
Hi Jill! You’re advice is always spot on! We are currently enrolled in Dave Ramsey’s Financial Peace University. It is has opened our eyes after almost 30 years of marriage. We thought we understood budgeting! The best advice we have gleaned so far is the Four Walls principle – Pay housing costs (rent/mortgage, utilities, etc.), food, clothing and transportation costs first in your budget. This gives security from which to tackle everything else. I highly recommend the course! Blessings!
Thank you Jill, it’s not just your advice that helps me but it also helps me to get up every morning with a goal. Thanks.
~May
You are welcome May. I know I have days where I need a little motivation to get up and get going, especially when my CFS is acting up.
Another thing we learned is when you get one bill paid off (like a mortgage, credit card, car, etc.) apply the amount you paid on that to another bill, and soon you’re pretty well debt free. You won’t miss the extra money, since you’ve been paying it out already.
You are oversimplifying people w/debt. If it were as simple as making a list and paying your bills first, then most of us wouldn’t be in debt.
The reality is that there isn’t emough money to pay bills and to eat.
It is simple. You only spend what you can afford to. Unless they have had a natural disaster or medical disaster happen to them most people can live within their means for the basic items. In our country people who even have a minimum wage are making almost double of what I live on and I manage. I have car repairs, house repairs and all of those things just like everyone else but I am not in debt. People on welfare live on way more then what I do. I know many people who make minimum wage and live on it. Now to do that you may have to move to a cheaper house or part of the country, eat differently, learn to make do but you can do it and we have many people on this site who do just fine.
Of course there are exceptions but not often. I can take most people and cut their spending way down on things they had never realized they were wasting their money on.
I love your advice, I have used it for years. I don’t think you are oversimplifying people/debt. I think people confuse needs and wants, then try to justify their debt. I know when my husband and I struggle it is because we tried to justify why we were not being smart and frugal with our money. I think mindset is a big part of being in debt. When my husband and I decided we didn’t “deserve” the right to charge that new T.V. or laptop we found we were much happier.
You are right about debt. When I was poor in the Air Force or now when I make a good living, others make just as much money as I do but can’t save any.