We are living in a world of excesses. A life which runs on credit is making us fall deeper into the debt trap and getting over it looks like a distant dream. Three years ago, I always wondered how a select few are able to move out of this mundane job and get the life they wanted. It was then that I discovered the secret to living a more fulfilled life.
It is impossible to get rid of debt completely. You can’t simply wake up one day and have no debt at all. Though it seems like a good idea, it is impossible to achieve. However, this doesn’t mean you shouldn’t work on removing your debt. There are two ways of doing this. You can either remove the smallest debts first or work on the ones with the highest rate of interest. If you choose to make the smallest payments first, the total number of loans will decrease rapidly and eventually, you will be left with larger loans like mortgages to pay off.
If you choose the highest interest-bearing loans first, you will be able to get rid of the biggest liabilities on priority. Depending on what your current credit situation is, one of these methods could be ideal for you.
There is a healthier, financially sound, and emotionally fulfilling alternative to everything in the world. Instead of eating out every day, you can cook food at home. Instead of going to the gym and wasting hundreds of dollars, you could workout at home and go on regular jogs and runs. Instead of visiting a casino, you can play games at home. Simply get a Party Casino Bonus Code and get ready to play in a live setting, without ever having to dress up and leave your house.
Stop spending on ‘stuff’
Wasteful expenditure is a part of our daily routines now. It will be worthwhile to stop spending on ‘stuff’ and buying things that you really want. Hundreds of thousands of people are currently buying fashionable clothes at an inflated price, without realizing that these trendy items will be out of vogue soon. These clothes become useless the next season and never give you the full value of your money. Also, remember Warren Buffett once said that “if you buy things which you don’t need then a day might come when you are forced to sell things which you need”.
Follow these simple rules and you can live a very fulfilling life without ever having to depend heavily on loans and other types of credit.
Latest posts by Colin Shaw (see all)
- Specialized SEO for Industry Niches - March 26, 2019
- How To Make Financial New Year’s Resolutions A Reality - March 25, 2019
- Starting your own mobile business: what you need to know - March 25, 2019