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How to Stop Gaining Debt

“New Year, New Me” is what we tend to hear around this time of year. It’s time to let go of all of last year’s bad habits and replace them with good ones. This year Allgen is on a mission— on a mission to get you financially fit!

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Let’s get started with 6 ways to stop gaining DEBT!

1. Surround yourself with the right people: find an accountability partner, a coach that’s going to keep you on track.

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2. Cut the credit: literally cut, burn, freeze the credit cards. Stop focusing on the things you WANT and start focusing on the things you NEED

3. Pay down debt: There are various ways to do this. One way is the snowball tactic: http://www.daveramsey.com/blog/how-the-debt-snowball-method-works

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4. Make a budget: Where is your money going each month? If you don’t know it’s time to figure it out. Set a time to go over your budget monthly.

5. Plan ahead: If you plan ahead for a vacation or an emergency you will be less tempted to whip-out your credit card. Plan ahead for birthdays, Christmas, and anniversary gifts.

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6. Make a commitment: Calculate your debt free date and make a commitment to stop at nothing until you’ve reached it.

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Being financially free is a lifestyle: filled with peace of mind, security, and adventure!

 

Advisory services are offered through Allgen Financial Advisors, Inc., a registered investment advisor.

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