Everyone has  all heard the talk about  saving money   and refinancing but here are 5 practical tips thatanyone  can use to reduce debt and get on track to  complete debt freedom .

1)   Take Lunch To Work 

Taking lunch to work instead of buying it will not only save money it is usually a much healthier option also.  A bag lunch can be made for a fraction of the cost of  buying a meal  and without having to leave for lunch you will also save money on gas.  Estimated  savings up to  $1,300 per year.

2)   Create Frozen Assets 

 Spending  is a common problem and having a credit card handy can make it so easy to purchase unnecessary items on a whim.  Instead of cutting up your credit cards that you may actually need  at some point , simply put each one in a glass of water or plastic bag and freeze it.  If you  would like  to use it for a quick purchase  you are forced to really consider whether it is worth thawing out the card to make the purchase .

3)   Become Your Own Bank 

One of the  easiest  ways to save money on credit card interest is to build your own line of credit for emergencies or other purchases through a savings account.  By saving at least $500you will have a cushion for unexpected car repairs or other circumstancesthat would otherwise require you to put it on a credit card.  Saving money on interest payments  will  add up quickly over time,  but you must remember to replenish the savings !

4)   Make Eating Out A Special Occasion 

Make  visiting a restaurant  a special  occasion  that you do once or twice a week and plan for it in advance by adding it as a line item to your budget.  Keep track of your restaurant expenditures and you will be surprised how the meal, tip, and gas can add up to an expensive night out .   

5)   Carry Cash 

Using cash to pay for  daily purchases  makes you realize how much money you are actually  wasting in some cases .  Some people refer to it as the “envelope system” which is when you carry enough cash to pay for the daily items in your budget but no more.   It fixes  overspending because you literally do not give yourself access to  the money  .  This idea has grown in popularity in recent years and  remains  to be ahabit for many budget conscious people everywhere.

Everyone can make  easy  changes to move toward  living without debt  .  For more strategies on Christian debt management and Christian debt consolidation, visit the debt free Christian site at www.debt-free-christian.com and get on the road toward  financial independence  today!  

Filed under: Finance • Other Loans

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