Curing Debt- The Nitty Gritty

For many this is a major issue, a major concern, a major problem. Debt is defined as an amount owed to a person or organization for funds borrowed. Statistically in America there is 13 trillion dollars in debt, and by 2020 it will increase to 22 trillion. Do you know how many zero's that is? 12 to be exact, that is by far the saddest thing because we are not being taught how to manage and budget our income. There are so many opportunities that make us become in debt before we even can't enjoy that first paycheck. We spend frivolously, at a infomercials, shopping, grocery stores, clubs and everything in between. Last year I came to the conclusion that I didn't know how to manage my money, now my debt probably was less than $1,000 with never having a credit card, but my credit was not the greatest for lack of a credit history. I had unpaid bills, from medical to cellphone carriers. I was upset at myself for not taking care of these items as they occurred, so that I can begin building my credit for that house. Then I asked myself this question, Are you willing to make changes necessary to cure the problem, rather than just treat the symptoms? So I decided to take these steps:

• I enrolled in a Debt Free Class
• Began to discipline myself, create a budget and stick with it
• more obedient through prayer, make sacrifices and cut down expenses
• Build a list on short and long term goals
• Hard work and a commitment to follow this realistic budget
• Learn to say no, be held accountable for your actions
• Be content with what you have
• Knowing your goal in the long run, most rewarding

If you have a credit card and its maxed, cut it up, borrowing just keeps putting you more in more in debt. We borrow for everything, just because a shiny plastic card has your name on it, doesn't mean its yours. Even coming down to not using my debit card, I took what I needed for that week, and left my cards at home. It wasn't a temptation, and after awhile I knew I didn't want the things that I thought I needed. After about 9 weeks, I eliminated a $400 bill, cut down expenses, from giving myself a realistic budget, which still included entertainment, you have to have some you time, but not to take out of your necessary priorities. And yes, I had rent, childcare, transportation, food, clothing and every other expense any American has, but I also limited myself to the needs perhaps to the wants. I score has increased by 150 points in 4 months. I know that there are some things out of our control, we want to attend school, have loans, want to buy a house, have a mortgage, but we have to learn where, when and how we should spend so that we have room for these things. I have 3 children, who one day I would love to send them off to college, this is the time for me to begin so they don't have to go through the hardships I have had to overcome. This is our future, and we need to be more mindful of how our dollar's are spent because the boutique on the corner is just benefiting for the now, and not the future.