Most people take on debt early in their adult life. Credit cards help people fuel a life that they otherwise would not be able to live. The trouble is that eventually that live-fast lifestyle tends to catch up and the credit card bills start piling up. Later you might want to get a house but cannot get a good rate on mortgage because you have a poor credit history. Realizing early in your financial adult life what it is you want to have and what you need is crucial to living without debt. You probably do not need a big apartment or a new car. You probably do not need to go out to dinner every night or have a big TV and entertainment system at home. Using debt to get everything you want in life right now is a sure way to live beyond your means and wreck your financial freedom in the future.
Live Without Debt
To live without debt you need to know what it is you really want from life. People want to have rich experiences and look back on those fond memories. So the best way to ensure that you will have those memories is to cut out the experiences that you will not remember in a week or those you just want to forget. Go through your past credit card bills and look at the things that are totally unremarkable. If you cannot look back on that experience and remember it then it should not have happened. Often these things are daily coffees at a café on the way to work, convenient food, or snacks from the gas station. If you plan ahead a bit and make your coffee at home, make your meals at home, and bring snack from home then your will cut out a lot of these less than memorable purchases. When you do have a coffee out or a dinner out of the house, make it special. Living without debt does not mean cutting out the special moments in life.
Renting where you live instead of buying can save big in many cases. People often buy more than they need. Rent exactly what you need where you need it and you will be able to live without debt. If you live closer to work then you might be able to cut out owning a car. If you can rely on public transport, a bike, or your feet then you will definitely save. If you do have to own a car then make sure to buy a used or second hand car instead of buying brand new.
Find your entertainment for free. A local library or an outdoor sport with friends will save compared to going out to the movies every other weekend. Joining local community groups will give you lots to do and you will be making new friends at the same time. Making these changes might disrupt your life in the short term but you will find it easier to make your life long goals come true if you live life without debt.