Financial Freedom – How to Develop the Art of Bill-Killing
By Benedict Yossarian
Just about everybody wants to be financially free but isn’t doing anything about it. Building wealth is the key that unlocks financial freedom. One path to take in order to build wealth is to nuke all unnecessary bills so you can save up cash.
Habits
This first item is going to hurt the most. Get rid of any vice you have right now. Almost all vices require money and since it is a habit, it can be bad for your health any way you see it. Smoking, alcohol, junk foods, soft drinks, sweets, movies and all things in excess.
You won’t believe how much money you can save by just quitting one or two of these bad habits. Quitting on them will not only save your money, your health and your life; it will also build self-discipline and character to help you mature financially.
Eating out
Let’s use the cheapest and below average reference. Suppose you eat out only once a week, at a low $25 per meal, you are already paying out $100 monthly. And if you spend on drive-through carry-outs three times a week at a minimum of $5 per meal, this converts to $60 in a month. Remember that these examples are in the lowest settings, but nevertheless, $160 a month can be used to pay off some debt.
Cook at home instead and pack your lunch to work. It costs less, tastes better than the greasy fast food stuff and should be healthier. If you can’t totally control the impulse, then at least cut it in half at first.
Grocery list
Without a shopping list, you can just walk down every aisle in the grocery store and get just about everything that pleases your eyes and taste buds. A grocery list can save you up to 50%, additional cash to pay for pesky loans and curbs impulse buying.
This list saves you money that you can see immediately and allows you to prepare daily meal plans in advance so you’ll know exactly what needs to be purchased and roughly the amount of cash required.
Clear out your junk
You probably have a lot of useless stuff hidden somewhere and just getting old. You can possibly pay one or two utility bills with that body-building set (which you’ve never used) stashed somewhere in your closet. You may be surprised that some stuff you’re no longer interested can sell big time in an auction. This can pay off that doctor’s bill that’s been bugging you for months.
Nuke your plastic
Use only cash for all your purchase. Credit cards stay with you after every shopping. Dollar bills disappear when you spend it and you instantly feel the effect once you get short of them.
If you purchase something with cash, you don’t get into debt because you don’t owe anybody anything. You might also think twice about a purchase while you’re holding on to that hard-earned $100 bill.
Putting these various bill-killing techniques and ideas into action will start to slash huge chunks off your existing debts. This will slowly heal your badly damaged credit report and start you on the road to financial freedom.
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