3 Steps to Debt Free Living

How are you doing in the finance department of your life?  I give myself an F.  There's one good thing about an F – You can only go up.  It doesn't matter how you got there.  It doesn't matter how old you are.  It doesn't matter if you're six feet under.  If you're serious about improving your personal finances, I'm sharing my game plan with you.  It's three steps to debt free living.  Commit yourself and you can achieve financial independence.  Here goes:

1. Decide.  This is the most important step.  It's impossible to get out of debt unless you decide you're sick and tired of living beyond your means.  You must say to yourself, I'm done living on credit cards.  I'm done with auto loans.  I want a better life.  I want to live debt free.  This is my decision and I'm sticking to it no matter how painful the withdrawals may be.
2. Dictate.  Write it down.  You can't beat the debt monster unless you know how big he is and how long it will take to snuff him out.  How tall is your debt monster?  How much does he weigh?  This means writing down every debt you have and adding it up so you can order a casket big enough to bury your debt demon and make sure he doesn't come back from the dead.  I have a calendar on my bedroom wall that lists the size of my debts.  Every month I take another body part away from my monster and put it in the casket.  Funeral arrangements are set for July 1.  This wouldn't happen without a written plan.
3. Do.  Follow the plan.  Don't cheat.  Take it one day at a time.  Surround yourself with like-minded people who are committed to debt free living. 

If you would like to read my dear John letter to my credit card company, click here.  The letter is featured on my get out of debt blog created for people who are serious about achieving financial independence.  Have a great day.