With college coming up, ive started trying to figure out how
to live off of less money and start saving. Ive been trying to get more hours
at work too. Im not one to buy everything I see that I like or don’t necessarily
need. Although, I used to be that way. Ive started thinking if I really will
use the item, if I really think the price is worth it, if I need it, etc. I splurge
sometimes, ill admit. Even for prom, one of the most memorable nights of my
high school career, ive been thinking of how I can save.
I found an article on Yahoo about a newly wed couple who
paid off their debt in one year. They had student loans of 15,000 each and a
car loan of 20,000 dollars. The couple wanted luxuries like a new house or
certain food from the store, to go out for dinner, etc. but instead, they moved
in with their parents, set a budget of 100 dollars a week for gas, food, and
other things, and they stuck to a grocery list of 40 dollars. The couple put
their tax returns toward part of their debt along with the money from selling
one of their cars and the man’s watch. It worked that they only used one car because
she would go to work during the day and when she came home, shed hand the keys
off to her husband who worked the night shift at his work. Being that the
couple didn’t really have time together to go out, they didn’t feel the need to
splurge on dinner and a movie.
I think this is a really good way to pay off debt. It would
be very difficult and a year is a long time. In the long run though, I think
the interest was probably so much lower than it would have been and now they are
living debt free and know how to save.
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