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Financial freedom - debt relief - go hand in hand

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Financial freedom debt relief is a very hot topic today. The economic downturn has really been an eye opener for many people. Even people who have always been 'recession proof' have had their world turned upside down with layoffs.

To really be financially free you have to be debt free. If you are in debt, you must find a way to get rid of that debt and make the necessary lifestyle changes to live debt free from here on in. That is the only way you can live your life and never have to worry about money again.

You are probably like many people and have very little control over how much money you make. That is determined by the industry you are in along with many other factors. But in order to find financial freedom debt relief you have to find a way to pay off that debt and the best way to do that is to find some room in your current budget.

Unless you will be getting an inheritance or you know you will win the lottery, freeing up some money that you already have is the most sure method to use. I know, a lot of people think that they simply do not have any extra money, and that is true. But it is only true because of the choices you are making.

Grab a piece of paper and a pencil, sit down and make a list of all of your monthly expenses and be honest. Write down all that money you spend on coffee or eating out or a spontaneous trip to the mall to buy some new shoes. These things all have to be factored in.

To make sure you have not forgotten anything go back over the last few months of credit card statements and bank balances.

Once you have a complete (and possibly dismal) picture of your finances you can start to whittle away at some of the places where you waste money. I did the exact same thing once, I wrote down everything and was astonished to find that in just 3 months I had spent over $800 eating out! I'm not even talking about fancy restaurants, just fast food and casual dining.

When you see those types of numbers in black and white it can be a real eye opener. So do that too, find out where you spend more money than you should and plug that hole. You may find yourself with several hundred more dollars than you thought you had.

Now that you have 'found' more money, put that money to work for you. Take it and invest it in a CD or a savings account. Or, even better, learn a little bit about investing in real estate or the stock market and invest your money that way.

Whatever you do, just make sure that you keep it somewhere that it will work as hard for you as you worked to get it.

Of course, if you have a lot of debt you should take the money you have freed up in your budget and apply it to pay down that debt. Do that before you start saving or investing since the interest you are paying on your debt is probably more than you would make on an investment.

These tips will help you achieve financial freedom debt relief quickly.

TAGS: financial freedom

Article Source: Messaggiamo.Com


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