Stuck in Personal Debt? Daily lifestyle tweaks that will help!

If you are trapped in personal debt, ignoring the problem won’t make it go away. Instead, it will only worsen your financial troubles. Many (if not most) of us are creatures of habit, and this applies to our daily spending as well. If we sit down and evaluate our expenses, we will realise that every day presents itself with various opportunities to save cents, which will turn into rands, and when applied consistently over time help us free ourselves from personal debt.

This article summarises a selection of the best tried and tested tips out there to keep within your budget and get on your way to a debt free life.

Read the full source article at  https://bit.ly/1hYk4yW on the Becoming Minimalist Blog.

  1. Get new quotes on your car, home and life insurance. Aim to get lower payments.
  2. Downgrade your DSTV package, or get rid of it entirely (latter recommended).
  3. Look for sale items at your local grocery shop. Buy generic brands where possible.
  4. Put a stop to luxury expenses, e.g. magazine subscriptions, newspapers or beauty treatments. These are not necessities and becoming debt free will be worth losing out on them.
  5. Supplement your income with part-time or temporary work and apply the extra income directly to your personal debt.
  6. Buy your most expensive staple groceries in bulk (e.g. meat, cheeses, bread). Draw up a monthly budget for additional items (fresh salad ingredients, fruits, etc.) at regular grocery shops.
  7. When in a restaurant, opt for water and don’t have dessert. You will save significantly. Opt for small appetizers instead of the expensive meal (it will be good for your waistline too!).
  8. Plan your trips better to save petrol.
  9. Give home-made gifts instead of expensive store-brought presents.
  10. Buy oatmeal, eggs or fruit instead of expensive boxed cereals (it’s healthier, too).
  11. Save on gym membership by walking or hiking, or using exercise videos.
  12. Make your coffee at home instead of buying it – those small amounts add up faster than you think.
  13. Pack your lunch daily.
  14. If you know you cannot control your impulses at certain retail shops, place yourself out of temptation’s way and do not window shop until you are out of debt.