9 Tips for staying out of Debt

9 Tips for staying out of Debt

 

What is Debt?
Borrowing money or something on interest that you will need to pay back with in a time frame.
For example – (yes I’ve been in a few arguments over my point of veiw of this) If you are a renter of a home you don’t own the home right, but if the owner has a loan on the home from the bank lets say the owner borrowed 70% of the house worth, and he’s paid back 10% after all the fees etc, the home owner owns 40% of the home and the bank owns 60% plus the rest of the fees etc, so it could add up to more.
So when you own a home, if you don’t personally pay for it in full and get a loan you don’t own all of your home, and if you have other loans on your house then the percentage of ownership goes down till you pay off the debt you have loaned against the home.
People don’t like me telling them they don’t fully own their home till it is all paid off and no loans are out standing on it, but it is what it is.

How can we stay out of Debt?
This is easier said than done, is don’t borrow, if you don’t have the money in hand, save up till you have enough or go without.
We live in a world that we have to have it now, or done now, it’s retraining the mind to that I’ll have to wait or go without.

Changing buying habits –
– Use only cash in hand, that you have budgeted to use
– Don’t have credit cards, change them for debit cards – Debit is using the money you have availble to spend only.
– Shop around for quilaty that is within your budget or save for it – there is no point in buying something that is cheap that will break, then you’ll need to spend more money to replace it.
–  When food shopping look on the back of packages for what ingrediants are inside – anything that has chemicals in it – put back, (buy real food, not package food) you’ll notice the difference in the size of your shopping, some items may be more pricey, but you will have quilaty over quanty, growing your own veges, baking also brings down the bill also, but you will need to decide over health, time and money.
– Wholesale shopping – going right to the suppliers that are open to the public, most times you can pick up thinks cheaper than they sell in the stores.
– Advoid impulse buying
– Prepare meals and lunches at home, maybe on a day off prepare for the week and put stuff in the freezer to be taken out on hand – do what works for you – having homemade pre done will cut out trips to the takeaways.
– Note for Parents – Your kids don’t need everything they want, meaning if your house looks like a toyshop, of a clothes shop and they still play with the toys and the clothes still fit & are still good, they don’t need more, like they don’t need another pair of sneakers if they have 2 perfectly fitting ones at home.
Buy things that will last and that are useful – so you want 5 kids, buy clothes that will last 5 kids, prams, beds, toys etc so your not buying whole sets all over again for each child.
Toys get a range of things you like from educational, outdoor and indoor toys – remember kids have great imaginations and love taking household things and making new things.
The best thing that money can’t buy is you spending time with them and your love.
Buy Clothes at the end of each season for the next year, so at the end of summer get summer clothes for the next year, so get one or two or more sizes bigger, ( you know how quick your child will grow so factor that in too), when they are all on special.
Because each season the shops have discounts to get rid of the old stock, to make room for the new stock, also there are shops that buy up the end of season and end of line stock all the time and sell them really cheap they are great places to shop, some sell products that used to sell for $80, $100+ etc for $10, $20+ each.
– Buy things only, that you really need

Can Living simpler help with debt?
if you look back over the years, our needs and wants have changed, but also it seems like we also pay more in fees, as there seems to be fees/tax for everything, land, water, power, sewage, rubbish, solar power, road, tv, car, school (education), animals, business, working etc etc, everywhere we turn there are fees/taxes to pay.
Would living simpler by going back to living off the land would that help with debt.
If your growing your own Veges, Fruits that cuts out some of the food bill, yes you will need seeds, tools etc, but they are for long term not every week.
Seeds, when you buy veges and fruit from the store, you could grow the seeds which are from your fruit or veges – killing two birds with one stone – so to speak.
Canning/bottling your fruit and veges to store.
Alot of this, alot of us don’t have the skills or knowlege of how to do these, so trail and error does come in to play which can cost money and time, but this is how lessons are learnt, I also like to follow people that do things that I would like to learn about,  I find that there are great blogs over on Steemit – You can follow us over there if you like, there are people that share their daily life of living off the land, how to live substainable, homemade baking/cooking, Healthy cooking, crafts etc.
They are very helpful and go into detail on how to do things step by step.
Using sustainable products also help, one of my favouties is Hemp – it’s bio degradable and has so many uses, but I’ll leave that for another post.

Live a life that is sustainable to you and your family.

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