Magic Jack

Prices have risen astronomically yet paychecks are not growing to keep up with it all. So, what’s a family to do? Find ways to save! In fact, find ways to get out of debt. 

If you were debt-free, it would feel like you got a raise, wouldn’t it. Well, wouldn’t it? Yes, it would!  Time to start taking steps toward being debt-free. 
Let’s talk about 10 ways to make a major dent in your financial heap. 

1. Cut up the cards. Really? Really! How well do you control your credit card use? Are you aware of how much you are really spending if you keep a balance? If you cannot say “no” and are tempted to use it “just this once”, it’s time to say “goodbye” 

Save a bundle on interest payments and service charges by switching to CASH!  LIFE LESSON: When people are taught first-aid for accident victims the first primary objective they are taught is to “stop the bleeding.”  That’s what you will be doing by getting rid of all credit cards now…you’ll stopping the bleeding.

2. Use the “Envelope Method” for your spending. When you get paid, cash your check and put that money into separate envelopes. 

car payment

mortgage/rent

groceries

insurance

medical

clothes

giving

entertainment

savings

taxes

tuition

me

him

A sub-category of this item would be to start an “emergency fund”. That is a savings from which you will pay for the unexpected events that could cause you to turn back to credit cards. Car repairs, etc. We’ll talk about that in a future post. 

3. Drive less. We all complain about the cost of gasoline. One way to save money on gas is to drive much less than you used to. How? Plan ahead. If you have business to do in one part of town, try to schedule it all for the same day. Minimizing return trips to the same vicinity will really save money on gas, time and wear & tear on your car.

4. Get rid of your cell phone. Cell phones are expensive to keep up. They’ve become “essential” to many of us … but just how essential are they? 

Unless they are a primary tool for your business, get rid of the one with the high monthly bill and opt for a pay-as-you-go that you will use only in emergencies. 

It should be no-frills. No texting. No voicemail. Nothing that will tempt you to use it more. The monthly bill should be under $10, if you don’t over-use it. Someday, when you are debt-free, you can buy a “frilly one” again!

5. Get rid of that land line. “No real cell and no land line? What are you kidding?” No. I’m thinking you’ll save money and lots of it. 

Assuming that you do have high-speed internet at home, Magic Jack is a great telephone alternative. It costs less than $40 for the entire year and you get free unlimited long-distance within the US and Canada plus several other countries. The newest versions do not require a computer to operate it! 

And now, for PART 2 CLICK HERE

Coming FRIDAY: Cupcakes on Parade