The average person has to admit that the past couple years have been some the toughest. Not only are we counting the nickels and dimes but we are losing homes, prized possessions, and even life savings. Just as Hurricane Sandy took the northeast by surprise, the recession swept the carpet from underneath so many people’s feet. Of course, we can only blame our selves; we should have been saving money instead of splurging like there was no tomorrow. The recession is no excuse for money woes. Although the past is important, the future is where change lives. Learning to consume smartly and to live self-sufficiently are great ways to get a bigger bang for your buck. If we do a little planning and consider the future, saving money while in debt will become second nature.
So how did we get in debt? Did we swipe the Visa at every mall visit or smoked a cigarette in the Range Rover after every five star meal? Whatever the case maybe, it was a personal choice that got us in this predicament.
Conscientiously consuming would be a great start because in today’s world of advertisement, we cannot step out the house without being enticed to buy something. Consuming smartly would be eating home-cooked meals, doing your own hair, hanging clothes to dry and washing your own car. Learning self-sufficiency can definitely help you save money. Stop being lazy and just take a breathe of free fresh air! These are all tasks that we easily pay someone else to do when in fact we can do it our self.
Some aspects of life we cannot completely control, one is transportation. We can choose between public and private transportation depending on our geographic location. Public transportation is obliviously the cheaper of the two choices but not always the best. Not everyone can afford a newer vehicle, therefore we have to make what we have work. If you prefer private transportation you can save money by choosing an eco-friendly vehicle and becoming a defensive driver. According to the National Highway Traffic Safety Administration (NHTSA), defensive driving helps prevent accidents, lawsuits, tickets, and death. With that in mind it will be wiser to stick to public transportation if possible!
Hopefully we never need to visit the hospital due to an auto-accident. Who is your insurance provider? Do you have insurance or do you just pop up in the emergency room with eyes full of hope? If you do, that is not a good idea. Going to the emergency room is an easy way to rack up some debt. Sometimes you just cannot help it, but it would be smart to invest in some healthcare insurance. In the long run you will save money with insurance versus paying out of pocket when the pockets are empty. If the pockets are low you should not be smoking. Cigarettes are expensive and bad for your health; that is a double sentence. If you are in debt, cigarettes are not your friends. The average yearly cost is roughly $3,000 depending on which state you live in. According to the American Cancer Society; that is enough to pay a loan off or to throw in an interest bearing savings account. This can apply not only to cigarettes but also to any bad habit that costs.
The list can go on and on about ways to save money while you are in debt. The recession has taught us that we should plan accordingly for the future because that is where change lives. Self-sufficiency and self-control are tools that will never let you down. When in debt we have to realize that something has to change in order to get back where we use to be. Saving money will enable you to live comfortably while still paying down your debts. You can make it fun by finding things to do that are free and less expensive, it is not as bad as it seems. Simply changing the way we eat, commute, work, and play will save money. Finding alternatives to these everyday activities shows that we are compassionate about life and willing to honor our debts.