Stop Trading What You Want Most For What You Want Now

After writing tip number one, and what I believe to be the single best money tip, I began thinking about what should be number two. Now, ultimately, I will stop trying to rank the tips and will just post what happens to come to mind on any given day. For now, at least, I think it’s important to hit the tips that can be the most life altering, by following them or not following them. So tip number two, or probably, one B: no debt.

Now before you get too defensive, hear me out. I know you’re thinking “but I can’t possibly live the lifestyle I want without borrowing money.” Cars, a house. You can’t expect me to buy those things with cash. Well….yes I do. If you ever want to live the life of your dreams. You heard me, your dreams.

If you are just starting out, great. Do not borrow money. Do not buy a car. Figure out a way to get to work for a couple of months and save every penny you can to buy one with cash. I know it won’t be what you want, yet! Do not buy a house. Later, I will explain how much I like real estate and how I think it is a great investment. But for now, hold off. Get a roommate and split rent. Just for right now. And absolutely DO NOT get a credit card. If you need plastic, get a prepaid card or a debit card.

If you are already in debt, unfortunately you are not alone. Most people are. But right now you have to make a decision to stop the borrowing. Make a budget and figure out a way to spend less than you earn. Put all debt you have on the quickest payoff terms you can manage and still save. But no more debt!

It is time to stop trading what you want most for what you want now.

*I will have some posts in the near future to show you how to get out of debt, so keep coming back.