The top 3 ways to become debt free: Tip #2

Hey all,

Here is tip number 2 of the series. As I said in post #1, I am new to the forum so I just wanted to provide a little bit of value.

The next thing you want to do is reduce those variable expenses. A variable expense is an expense that can be easily altered or changed. For example: It?s not that easy to change your mortgage (fixed expense) but it all it takes is a phone call to possibly lower your cable or phone bill.

Take a look at all your expenses and separate out all the variable expenses and make a list. Then look at the expenses that are the easiest to lower. Of all the clients I saw, 90% of them were overspending in the variable expense category by at least 50%.

Here are some of the expenses I reduced when I had money problems:

Phone (Bundled with my internet and TV)
Groceries (I took my lunch to work)
Vacations (Went camping instead of the all-inclusive trips)

The main idea with all of this is to take a look at the expenses you can control and do what you can to reduce them. I know this is not new or riveting information but you would be surprised how few people do this.

You can also grab a free copy of my step-by-step video course that includes all of the ideas:

thedebtsolutionsystem.com/financial_resources_kit/tdss_squeeze/opt.html


Cheers!

Daniel

There are ways to use secured debt to payoff unsecured debt and come out ahead by breaking the debt paradigm of earn/spend/borrow/repay by the proper application of the money from the secured debt. You just have to use the method that you are comfortable with and understand. Blanket dismissal of any method (and each method will be dismissed out of hand by someone) does not serve those that need to get out of debt sooner than later.