Part 1 asked the question: How can we live without credit cards? For this you will need RESOLVE – ie. you need to recognise that you can no longer have the things that you don’t have the money for. This covers everything from a bar of chocolate to a new printer for your PC…if you don’t have the money for it in the bank, don’t have it! This is a tough lesson, but it’s also very logical and how everyone used to live before credit cards came along. Never do your food shopping on your credit card – use cash or a debit card instead (a debit card takes the money straight from your bank balance). In my quest to reduce debt, I devised a budget and put aside an amount every week for food and groceries. We take out this amount in cash every week and when it’s gone, it’s gone… we have halved our grocery expenditure by doing this (and we’re not starving either!). The amount we set aside is basically, the portion of my income that I can afford to allocate to our joint account less the monthly direct debits. All it takes to achieve this new manageable level of expenditure is RESOLVE (look it up…). If you don't employ reslove in large quantities, you will not escape the debt. In the next post I will talk about how this has changed our lives.
Thursday, 10 May 2007
The quickest way to make money - part 2
This follows on from part 1 where I talk about reducing debt as the quickest way to make money.
Part 1 asked the question: How can we live without credit cards? For this you will need RESOLVE – ie. you need to recognise that you can no longer have the things that you don’t have the money for. This covers everything from a bar of chocolate to a new printer for your PC…if you don’t have the money for it in the bank, don’t have it! This is a tough lesson, but it’s also very logical and how everyone used to live before credit cards came along. Never do your food shopping on your credit card – use cash or a debit card instead (a debit card takes the money straight from your bank balance). In my quest to reduce debt, I devised a budget and put aside an amount every week for food and groceries. We take out this amount in cash every week and when it’s gone, it’s gone… we have halved our grocery expenditure by doing this (and we’re not starving either!). The amount we set aside is basically, the portion of my income that I can afford to allocate to our joint account less the monthly direct debits. All it takes to achieve this new manageable level of expenditure is RESOLVE (look it up…). If you don't employ reslove in large quantities, you will not escape the debt. In the next post I will talk about how this has changed our lives.
Part 1 asked the question: How can we live without credit cards? For this you will need RESOLVE – ie. you need to recognise that you can no longer have the things that you don’t have the money for. This covers everything from a bar of chocolate to a new printer for your PC…if you don’t have the money for it in the bank, don’t have it! This is a tough lesson, but it’s also very logical and how everyone used to live before credit cards came along. Never do your food shopping on your credit card – use cash or a debit card instead (a debit card takes the money straight from your bank balance). In my quest to reduce debt, I devised a budget and put aside an amount every week for food and groceries. We take out this amount in cash every week and when it’s gone, it’s gone… we have halved our grocery expenditure by doing this (and we’re not starving either!). The amount we set aside is basically, the portion of my income that I can afford to allocate to our joint account less the monthly direct debits. All it takes to achieve this new manageable level of expenditure is RESOLVE (look it up…). If you don't employ reslove in large quantities, you will not escape the debt. In the next post I will talk about how this has changed our lives.
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