Step 7 - Don't Spend What You Haven't Got
Keeping up with the Jones’ may be a British pastime, but
I’ve got some news for you. The Jones’ are in hock up to
their eyeballs. And they’re looking down the twin barrels of a
county court judgement. Do you really want to emulate them to the
point that you’re evicted?
No? Then take a good look at what you’re spending your money on.
After all, getting out of debt is hard work as it is, it requires the
persistence of sticking to a budget. Don’t make it harder on
yourself by spending money on things you don’t need.
Remember Step 1? You prepared a budget and listed everything that you
have coming in and going out. And remember how there were certain
items costing you more than you thought?
That is why to get debt free and stay debt free, you’ve got to
keep an eye constantly trained on your expenditure.
I’m not suggesting for one minute that you turn into some old
miser. Once you are free and clear of debt completely then you can
spend your money on whatever you like, after all it is your money.
And let’s face it, being debt free is definitely reason enough
to celebrate.
But the point of the budget is to keep your spending within your
means. Get into the habit of doing that and everything else will
become second nature.
Then you’ll achieve more than getting debt free, you’ll go
one better ... staying debt free.
