Living Free Blog
Freedom From Debt and Freedom to Live

Can you imagine a world where you control your money and your money doesn’t control you?  Where you can choose to go to the movies without the nagging thought of credit card bills looming over your head?  Where you have the freedom to enjoy living again without wondering how you are going to ever pay your student loans?

It is possible to get out of debt and have the freedom to live!  Living Free is a blog dedicated to help individuals to take the steps to gain freedom from debt. Getting out of debt is possible…one baby step at a time!


June 29th

Avoid Acquiring New Debt


Once you have paid off all of your debt, it’s important that you don’t get yourself back into debt.  You have worked so hard to get debt free in order to Live Free.  Now the challenge is to avoid bad debt at all costs.   Here are some practical steps for staying out of debt:

·         Pay with cash/debit card whenever possible.  Avoid using your credit card for “everyday purchases” such as groceries.  You may have good intentions of paying your credit card off at the end of every month.  However, purchasing groceries, every week, on your credit card can add up quickly.  Then, before you know it, you have a balance on your credit card that you are not able to immediately pay off.  Another reason for the cash only method is that, when you pay with cash, it gives you more a visual of money leaving your hands.  It allows you to recognize where all of your hard earn money goes each month.

·         Stay on your budget.  Resist the urge to splurge.  Your budget is your guideline for keeping your spending habits under control.   Hopefully, by now, your newly formed spending habits are now firmly grounded.  However, if you feel yourself becoming impulsive, remember your guidelines to keep you from going off track.

·         Shop around for big purchases. Preparing to make a big purchase can be exciting and sometimes spontaneous.  When looking to purchase a car, boat, home, or ATV, do your homework and shop around.  High pressure salesmen want you to close the deal now!  Become and an educated consumer and know what the competition is offering.  Be sure to utilize your negotiating skills.  Don’t be scared to walk away when you are not getting the price you want! You need to remember that it is your money you are spending and you don’t have to agree on anything.  Chances are the salesman will call you back the next day with a better offer!

·         Destroy your credit cards. Some people say to destroy all of your credit cards.  I say destroy all but one.  If you have developed the self-discipline your new life style requires then I suggest keeping one credit card for emergencies ONLY!  Not emergencies like I need those new pair of shoes but emergencies like I need to buy four new tires for my car.  You should have enough in savings to cover your emergencies.  However, sometimes emergencies can occur back to back and can drain your savings.  If these extreme situations occur, you need to have access to a credit card to keep going. 


Living Free Archives
Thursday, June 29, 2017 at 2:29pm
Your journey to Living Free is off to a fast-paced sprint. You have made lots of changes and have started to gain a little ground. You will see initial success in your small debts but realize that this journey needs to be ran at a marathon pace. Take a breath and slow down. You have a long way to...
Thursday, June 15, 2017 at 11:33am
:p :p Look back at your lists and the foundation of your blue print. You are already making good financial choices and you need to celebrate every success on your journey. Be proud of your progress and look forward to your future. Now it’s time to start tackling your debts. :p :p Take a look...
Wednesday, May 31, 2017 at 12:53pm
You have begun this sweet journey to Living Free . You are realizing now that obtaining financial freedom is going to require work and planning! However, it’s not impossible! :p :p You have taken the steps to realize your current debt situation and analyzed your monthly spending habits. You...
Tuesday, May 16, 2017 at 11:17am
By now, the reality of your financial situation has set in. Your desire for Living Free has ignited a fire inside of you. Don’t let this fire burn out… let’s now begin to create your blue print on how to achieve financial freedom. :p :p Take an honest look at your monthly...
Wednesday, May 3, 2017 at 11:01am
Just like with any problem, the first step to changing it is to admit you have a problem. The foundation to Living Free is to be realistic about your financial situation. This can be the most intimidating part of the process. Writing down what is actually owed on credit cards, medical bills...
Texoma Educators Federal Credit Union
506 W. Lamar
Sherman, TX 75090
(903) 892-1505