Step 4: Stop Spending

If you want to get out of debt and attain financial freedom, you have to stop spending. Here are some suggestions to help decrease your costs so you can increase your happiness!

• Don’t keep credit cards in your wallet or purse (only debit/ATM)
• Write checks and pay cash
• Reject credit line increase offers
• Create specific funds for special occasions, like holiday presents, vacations, anniversaries, etc.
• Tell friends what you’re trying to do to so they can support your efforts
• Don’t create bills that you won’t be able to pay in full at the end of the month
• Avoid late fees by paying credit card bills on time
• Visit the ATM no more than once a week
• Reject credit card offers such as airline miles, gas cards, etc.

Step 4 Summary

• Stop spending!!!

Congratulations! That’s the end of Step 4.

Now you’re ready to go on to Step 5: Create a Monthly Budget Plan

or go back to step 3

Debt Resources

• Lexington Law Firm
• Instant Online Debt Consolidation – Free Quote!