It is often said that greed is good. It usually is, however, my finding and studies are quite different than traditional thoughts. Most often our thinking often goes; the more we buy, the happier we get and the more satisfied we become. However, through my handful of experiments I have also found that this isn’t as truthful as society beautifully portrays.

When we are in a full time job most of the time spending consistently and getting in debt equals more time to pay credit cards, loans, mortgages, and many others to reach one of the so-called American Dreams of financially independence. Think about it, a 16% interest rate out of a simple $1,000 debt from a credit card means around $200.00 or more in profit anually for a credit card company. Pay your credit cards minimum fee every month, and you may find getting debt free and financially independent from a job a dream.

From personal experiences in my early 20’s, it was surely difficult to get out of debt with minimum wages in P.R or in other internship in the US! Short term pleasures could very well mean long term expenses if you keep yourself in a low paying job. Most importantly if you are self-employed and things go smoothly, spending can surely grow in the thousands if you let it.

A tip-bid that has worked marvolously since then, take notes of your spending. If you love to buy and are a little compulsive about getting everything our advertising god’s invent as the latest solution for our daily ’supposed’ improvements, take notes and ask yourself if you really need the item or what you intend to purchase. Most often, writing the item and the price tag in a notepad will make you well aware that a $20 purchase here, $80 purchase there on things that you don’t need for your daily schedules might actually save you money to start a business and to get closer to financially independence. Sure, the planning in paying off debt by a tight deadline schedules must be done but you should get the picture.

Buy what is neccessary, dump items that are unnecessary and forget about “getting more” is better while having a 9-5pm job. Most likely it won’t be as you’ll grow in debt and would most need to stay more time (as in years) to break even or pay most of your debts that don’t allow much room for a breath.

Plan and execute a debt reduction regimen from monthly expenses, and jot down everything that you purchase. You’ll grow more concious and increase your response to getting closer to financially independence and getting out of debt.

Quick tip: Do you need to pay $190.00+ monthly for cable TV when DishNetwork starts at $35 and even lower in some states?

Bring a piece of paper out, start thinking about your expenses and wiping out monthly expenses intelligently without jeoperdizing your family needs. You’ll see how fast you can grow out of debt if you really put your mind into it and if you want. It truly is that simple once you’ve made the tough and painful first decision. Been there done that quite enough times.

Hopes this helps a lot of you@!

John R.