Free Debt Advice from Grandma

August 23rd, 2007 | Stacey | Debt Management, Financial Freedom, Financial Independence

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If you take the free debt advice that Grandma is so willing to offer, you will probably already be well on your way to become financially independent now. Statements such as “Don’t keep up with the Joneses” and “You reap what you sow” are common sense directives that can actually lead you to the seemingly elusive status of being financially free.

Consider these basic statements to show you how to get out of debt, stay out of debt and attain financial freedom:

1. Don’t wish you had what your neighbor does. After all, you don’t know how deeply in debt your neighbor really is, so why join them? Stop comparing what you have to others and be happy for what you’ve got.

2. Enough is enough. Forget false necessities such as a brand new car or vacation home and know that possessions do not provide financial freedom or peace. When you spending increases as your income grows, you miss out on opportunities to save, invest and build wealth.

3. Pay off your credit cards and stay out of debt. One at a time, starting with the smallest bill, pay off your credit cards and don’t use them again. Live within your means.

4. Better than living within your means, live below your means. This gives you financial freedom by saving rather than struggling every month.

5. Take care of yourself so you aren’t dependent. Your investment income should eventually sustain your lifestyle so you do not need to rely on a job, spouse or your children to support yourself.

With a bit of self control and listening to the free debt advice offered by Grandma, you can become financially free sooner than you may think.