Debt Free Living Blog
Lower Monthly Bills
Debt Management
Get Rid of Debt
Credit Counseling
Money Saving Tips
Grocery Savings
Frugal Recipes
Clothing Closeouts
Gift Ideas
Home Decorating Tips
Low Budget Wedding
Frugal Living
A Frugal Xmas?
Frugal Shopping Tips
Frugal Books
Frugal Vacations
Frugal Family Fun
Family Vacation Ideas
Money Saving Articles
Family Relationships
Work at Home
Contact Us
About Us
Resource Directory
Newsletter Sign Up
Choosing a Charity
Site Map
Legal Disclaimer
Craft Ideas
Coupons - Samples
Build a Website
Tell Your Debt Story
Share Saving Tips
Budget Worksheets

Money Saving tips Newsletter

Your E-mail Address

First Name (optional)


Don't worry -- your e-mail address is totally secure.
I promise to use it only to send you Cheryl's Sensible Cents.

Financial Security and
Debt Free Living!

Building financial security is a long and seemingly endless task if you have outstanding debt obligations.

I have in the past stressed the importance of saving, saving, saving. This being an important part of preparing for life's unexpected events and little emergencies. And, preventing us from resorting to credit when those times arise.

I have recently been convinced that maybe it's not so important. I can't believe I'm saying it. But, after alot of research and number crunching, I can now see that as long you have debt, it is useless to save. Your saving may actually be costing you money.

My insistence on savings was in reality a security blanket. Something to catch you if you fell. However, I must agree with other authorities on the matter that The very emergencies we fear will happen, rarely do happen. Also, it is a fact that most of us (expecially those with debt) have been living without that security net all of our lives.

The logic is there, and I cannot deny it! Saving will only delay your freedom from debt and is not a good investment while seeking debt elimination goals.

Don't get me wrong. I still believe it is essential to build financial security in order to remain debt free. But, the proper time to start building is in fact when you have freed up all that money you've been investing in the credit card companies, and start investing it in yourself!

I still insist that you should, if at all possible, have a small emergency fund to prevent the use of credit. Start with 2-4% of your monthly income if you have to. A little is better than nothing, and then you can build it up from there as funds become available. $500 should be enough to see you through for now.

If you can build a reserve for emergencies you wonít have to use credit in a crisis. This is an important defense that will help you keep your household budget in balance and become free from debt. Being free from debt is financial security.

Of course once you have become free from debt, it's time to start investing in yourself to build your financial security.

Using money saving tips reduces expenses in your budget in an effort to help you build that financial security. Through saving money on everyday expenses and living a frugal lifestyle, you free up monies to apply to other areas. This is the foundation for your financial security plan! Reduce expenses, reduce debt, eliminate debt, and live debt free.

Balancing your expenses with your income is a essential component in debt free living. This is the concept of living within your means.

Congratulations! Reduce expense, eliminate debt, start investing in yourself....You're on your way to financial security and freedom from debt. Enjoy!

A Special Note for Special Circumstances

You may find that even after implementing as many of the money saving tips as possible, eliminating all possible unecessary expenses, and reducing costs to the bare minimum, you just canít bring expenses within your income.

Don't feel bad. You're are not the only one! That's why there are so many people out there waiting to help you, and many others, get back on track.You can still make it!

Don't just continue increasing debt until your financial situation hits rock bottom. If you do nothing, and continue to spend more than you make, your situation will only get worse. You will never build the financial security you need to be debt free and the cycle will continue.

You do have other options. Debt doesn't have to control your life. Click here to learn more.

  • Seek professional credit counseling to gain control of your finances.

    Choosing a credit counselor is a serious matter that requires serious standards. When choosing a counselor, consider these important factors:

    • Are they experienced
    • Do they provide customer-focused service
    • Are there convenient payment options and account access
    • Do they offer resources to help you manage your money and remain debt free

    Choosing a Credit Counseling Agency that provides CareOne Credit Service is a Good Place to Start! Donít be afraid to ask for help.

  • or you could...

  • Increase Your Income -

    A great way to get closer to financial security. The best choice whenever possible. Whether by seeking additional employment outside the home or through a work at home business, you can set your own goals to suit your needs.

Whatever path you choose, we wish you success with your debt free living goals!

Rate Us:

Link to Us
Resource Directory

ING DIRECT Orange Mortgage - Apply Today!

Home | Site Map
Work at Home Library |Money Saving Tips
Contact Us | Find the Freed(dom) Prize Inside!
Cheryl's Sensible Cents Newsletter| Top of Page

footer for financial security page