How to go From Survival Mode to Debt Free
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When you’re living from paycheck to paycheck things can be hard, you feel like your just in survival mode. You may feel like you are fated to this state of mind, but you’re not at all by any means. It can be stressful and trying times but you can do something about it and take control.
How to go From Survival Mode to Debt Free
If pay days are coming and going with mounting stress then take a moment to to acknowledge that it is time for a change, if all you have to show for years of your hard work and hard earned money is debt then it is time for a shift of the mindset.
Thinking about keeping food on the table every night and how to keep the lights on, it can be hard to think that you could ever be debt free, but you can be and you can do it while also setting aside savings as well.
Want to change your situation – it is said that sometimes we don’t see a need for change until we’ve hit rock bottom. Recognize your rock bottom and build from it.
Make the mental shift – your mindset will have to change to make this all work out in your favor. You’ll have to stop telling yourself “there is no money for this or that”, instead you’ll need to tell yourself “my money simply goes where I tell it to go”. You’ll see a world of difference in the way you foresee the money you are making.
Create a budget – once a budget is set and realistic you’ll have a sturdy foundation to build on. You might need to adjust for a couple of months until you get the hang of it but relax because creating the perfect budget doesn’t happen overnight, income can fluctuate from month to month so just understand that it may happen and keep it in mind.
Downsize and save where possible – downsizing can be a major factor in going from survival mode to debt free. Downsizing doesn’t have to be limited to the house you live in or car you drive but also the coffee you grab every few weeks instead of making the brew at home. The same goes for dining at a delicious restaurant. If you save funds for these purposes because you’ve added them into your budget then that is a win but if you are trying to get back on solid ground find ways to go without for a month or two and see the extra money you’ll have left over to put towards savings.
Increase your income – this may not be possible, you may be stretched to your limit as it is. You can get creative with this step. Search around your home for things you no longer use such as kids toys, books you don’t read anymore, clothes you no longer wear, anything that can turn a profit.
This may not be an easy journey but don’t give up on the things you’ve worked so hard to gain from this new mindset.
