Times are tough. These days, trying to survive is literally what most people are doing. Gone are the days of trying to impress your friends with the fancy rims and nice shoes as everyone is just trying to get by.
I want to show you how I was not only able to get out of debt, but how I was able to survive on the tight budget that my job allowed.
Financial Problems Lead to More Problems
Even if I’ve deployed overseas twice in my life, I can honestly say that nothing can compare to the type of stress that comes with the financial issues we face in life.
I know how it is and I know it ain’t easy. I am not a financial expert and I am not certified, but I do know a thing or two about falling into debt and getting out of it.
Encounter a financial hardship and you can expect that snowball to roll downhill and hit every other part of your life.
You fix things now and learn. Or you can be like me and learn the hard way one too many times.
The Early Years
Straight out of high-school I found myself enlisted in the US Army. This was also the first time I opened a bank account and the first time I even had $1,000 to my name.
The days, months and years flew by and the same thing happened every single time. The money came into my account, and I spit it out faster than it took to get there.
Within that time, I did a lot of spending and this led to a lot of borrowing. All this nonsense was done to live my life with pleasure, but I felt the after affects later in life.
A couple deployments later and I found myself working a regular job with the worst credit in the world. I really had no clue as to what I was doing and at the time, I really didn’t care.
I know, I know.
Piss poor attitude, right?
Well, you live and you learn and learning I did do. To a certain extent that is.
So yeah, I fell into debt, but I worked really hard at getting rid of that debt.
But (I hate these), the debt Gods weren’t done with me just yet. After building my credit past the 700 mark, I gave into more credit cards and everything else that the banks threw at me.
Back in debt I went and this time in a bigger hole than before.
With kids to feed, a car to pay, and rent, the stress level got higher than high. Things got out of control and my finances took a hit for the worst.
The car and all that didn’t take the biggest hit though, it was my mental state. I don’t think I could have gone through a harder time in my life and it is something that I look back at and immediately get slapped in the face as a reminder of how I need to live my life.
But just like the first time, I fixed things.
The Step Back Method
Encountering these problems were not the easiest thing to endure. This time patching up my credit was the last thing on my mind.
I just needed to get by.
So what did I do?
I did what I like to call..the step back method.
This is something that I take dear to heart and it is also something that I have created to better every single aspect of my life.
From my relationship with my kids, to the financial issues, this method has helped me get through life and then some.
What this is is nothing more than taking a step back and really taking a look at what is going on in your life, so you can figure out how to even get started with your problems.
In this case, you will be looking at your financial situation.
What is your income like?
Where are your weaknesses?
How can you improve in both departments?
Literally take one step back and look at your life. Go ahead, no one’s looking.
Think about what is going on and why you’re going through all this madness.
Identify the problems, admit to it, and go from there. Things won’t get better immediately, but I can promise you that you will have a lot lifted off your shoulders.
Live Like You’re Broke
This is the best solution to all your financial problems. Now if you’re not making enough money to apply what I am about to teach you, I think it’s time you find work elsewhere.
Wants will always be there.
When you find yourself looking at a new pair of shoes, turn the other way and tell yourself you don’t have the money for it.
Even if you just got paid and you have $2,000 ready to blow, you’re broke.
Nod your head yes, and move on.
Try doing this when you come across more wants and you will see how much money you can save by the end of the month.
Stop by McD’s for that $1 McChicken?
Screw it, you’re broke.
We all want a lot of things, now it’s all a matter of how you respond to this want. If you can pretend you’re broke when you come across your next want, you will walk away and feel better about yourself.
When it comes to bills and expenses, you really need to sit back and think about things. I mean, literally sit down at your dining table, pull out a notepad and start jotting things down.
- How much money do you make?
- How much do you need to fork out for the mortgage?
- How much are your utilities?
- Car payment?
- Credit card payments?
- Dog food?
You get my point.
Depending on the lifestyle you live, you will need to take note of things and see exactly how much you have before you can do any type of pampering for yourself.
Now just because you have some extra cash in the bank after all this is taken care of doesn’t mean you should go out there and start spending money on unnecessary stuff.
Pass by Applebee’s and say goodbye to the Colonel.
These things are all stuff you don’t need.
Pay your bills, pretend you’re broke, and always…always act your wage!