Are you living paycheck-to-paycheck? Do you have a hard time making ends meet and feel like your financial situation is out of control? If this sounds like you, don’t worry. There are plenty of ways to live debt-free – it just may require some personalized financial tips from someone who knows what they’re doing. In this blog post, we’ll discuss 5 tips that can help people become debt-free.

1. Get a side hustle

This can be anything from dog walking to freelance writing, anything that suits your skills, interest, and time availability.

A side hustle can be an easy way to make some extra money on the side and that will build up a financial cushion for you in case of emergencies or unplanned expenses. Side hustles also offer more flexibility than full-time jobs and all the money you earn can go to your emergency fund!

2. Create an emergency fund of $1000

This financial tip will cover any unexpected expenses that may come up, and will also provide you with some financial security.

An emergency fund is a great way to build up savings that can be used in the event of any emergencies, or just for those unexpected expenses!

If your income fluctuates wildly from month to month it might help to set aside money every time you get paid so you always have enough money to cover your four walls first and foremost.

3. Create a monthly budget and see where you’re wasting money 

It can be surprising to see just how much money we spend on things like coffee or takeout, but you might be able to cut back in these areas without feeling the pinch. You may also want to think about whether there are any recurring payments you could cancel that you are not using.

For example, if you are not going to the gym regularly, cancel your dues. You can still get a great workout for free!

If you are struggling with a significant amount of debt, talk to a financial coach who is qualified in both the lending and credit industries so that they can advise on how to communicate with your creditors immediately.


Debt Free Living Ever Think About It?


4. Negotiate with your creditors if you have the ability to do so.

Creditors are generally willing to negotiate terms if they know you can pay. A financial coach will be able to provide personalized financial tips to help you. This also provides general advice on how long it should take you to become debt-free, depending on what your starting point is. They can also guide you on negotiating more favorable terms or help set up an alternative payment plan for you that will allow you to pay off your debt faster.

5. Live on less than you make

This is the simplest and most effective way to live debt-free. It means that you will be spending less than what you earn, which starts with a budget that includes all of your expenses from day one. And you will have to cut out all unnecessary expenses because that’s where so much of your money is going and causing you to live paycheck to paycheck.

If you are ready to stop living paycheck-to-paycheck and live a debt-free life, then it’s time for a financial coach. I’m not saying this because I want your business – if anything, that would be the opposite of what my intention is! But seriously, there are times in everyone’s lives when they need someone who has walked their walk and can help navigate them through their journey so as to avoid some common pitfalls.

You deserve to have peace of mind in regard to money! Contact us today for personalized financial tips if this sounds like something that would be helpful for you or someone close to you. We will work closely with you every step of the way so we can achieve our goals together while minimizing any stress along the way. Let’s get started on designing an actionable plan that moves towards accomplishing your financial dreams! Get more information here