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How to save money and live a debt-free life

By Ruth Racey
Published: Sunday, November 22nd, 2009

If you want to lose weight, what steps do you take? The big key to this is reducing your intake of calories and fats, and increasing the amount of time spent in physical activity. Losing weight and maintaining it requires a change in lifestyle and mindset. That is no different from modifying your financial position.

When you start to feel that saving and budgeting are better than driving a new car or having new sets of clothes, then you are on your way to changing and living a healthy financial lifestyle. Being debt-free and stable financially will surely bring a better financial condition.

Old habits seem unbreakable, but not impossible. First, realize that you have poor skills in taking care of money, and then desire for change. However, most importantly, believe that you can do it, in order to be successful in your endeavor.

Has luck got anything to do with it? The answer is a big NO. A number of people blame their financial setbacks on their bad luck. However, if studied carefully, does luck have anything to do with how much you spend money, or how stable you are financially? Luck, whether it is good or bad, is something distant, yet it affects people in so many ways. No matter how much you try, you cannot control it. For example, a lucky break is purchasing a lottery ticket and winning the eighty-million-dollar jackpot, when the possibility of hitting it is only one in eighty million. You cannot control that, it is fate that made it possible. However, unlike this instance, you can control your lifestyle; therefore, being in an awkward financial situation is not based on luck.

Although you may not have the power to do a lot of things, one thing that is controllable is your financial situation. If you always blame luck for your current problem, then you have surrendered to the belief that there is nothing you can do to change it. Start today by believing that fate rests in your own hands, and only then will you be able to begin making better decisions concerning finances.

After checking the difference between luck and reality, it is important to set aside every obstacle in mind that keeps you from improving your condition. Convince yourself that saving and budgeting is what you need to do, and you will be able to do it. Once you have defeated your own fears and philosophies concerning finances, you are now fully prepared to begin your journey to a debt-free life.

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