A few years ago my husband and I made a huge decision. We decided to “live debt free”, pay cash for everything and be more focused on our environment. We donated most of the things we didn’t need to our favorite charities, set the thermostats way below the average and canceled the memberships we really didn’t use that often, including Blockbuster. We sold our new vehicles, opted to car share and buy used, American made vehicles (well, as much as can be – that’s another blog). We bought slightly used Fords, for cash, wanting to keep it as much a Michigan product as possible. NO MORE MONTHLY CAR PAYMENTS. Bonus – our insurance rates have dropped drastically.

It’s not easy, especially for me. When I get cold, I want to crank up the heat – not put my winter coat back on, but I don’t. When I want something, I don’t necessarily want to take the time to see if it’s on sale somewhere first, but I do. When I want to go somewhere, I don’t always want to see which car is available first, I just want to get going, but I do see what car is available first and if I have to I walk or ride a bike! Well, at 40 something, I think I got it and the words, “Patience; good things come to those who wait” are finally sinking in. I started to breathe and meditate instead of constantly spinning and spending! We have become more mindful of our budget, our family, our pets and our environment. We take the time and pay attention to what matters.

Besides taking time to breathe and meditate, here are some great tips from Stacey W. Johnson’s new book, “Life or Debt 2010.” He fully supports eliminating debt by finding extra cash in your own budget, without depriving yourself! The first thing he says to do – stop wasting money! Try some of these and you’ll not only reduce your debt, you’ll put a few bucks in your pocket, too.

  1. Buy Generic
  2. Stop over paying on insurance
  3. Don’t use disposable plastic water bottles
  4. Borrow books at the library or from friends
  5. Use internet coupons
  6. Stop paying 20% on credit cards while earning only 2% on your savings
  7. Split the cost of rarely used items – like lawn mowers and snow blowers
  8. Stop buying everything new – visit resale shops, Craigslist and more
  9. Cook from scratch – not only does it save money in the long run, it’s healthier
  10. Bargain and barter – most companies will give you a discount if you ask
  11. Stop being a trendsetter-buy used or outdated
  12. Stop paying for things you don’t use – Fitness clubs, etc…

You can read the full text of these tips and more at Readers Digest. His descriptions and advice are certainly worth the few minutes of your time to put more money where it counts – your bank account, not someone else’s. It’s working for us – it can work for you, too!

Here’s to having more money and time to focus on what counts…
YOUR BLISS!