Strategic frugal living can help you live a debt-free life

avoid credit cardsConsidering that you are already in debt — today it is difficult to find anyone without a debt problem — it is imperative that you to downsize your outgoing expenses. This lets you channel money toward your debts; paying down debts becomes much easier.

This is also a boost for your savings, allowing you to set aside more money than before. Finally, the process also requires you to budget your finances, which helps you avoid future debt.

But to put all of these together, it requires frugal living.

Frugal living – Unfolding the cryptic message

Most people believe that making money is the only important thing in life. If you have enough money, you can go on to manage anything and everything, they think. Ironically though, making money is not the end all and be all of your life. You need to understand its importance but you also need to realize that you cannot make money throughout your entire life. Therefore, it is important to save. However, with the present market conditions it is almost impossible to save if you do not live a disciplined life. Frugal living is about your financial wisdom and intelligence; it’s the smart and disciplined approach to living.

Frugal living benefits you by offering you salvation from debt. If you follow the right strategies and keep your expenses at the proper level, you will be able to save more than what you have been saving so far in your life. Here are some ideas. You can save more if you start:

  1. Having happy meals at home – Irrespective of where you are — at home or office or hostel — brown bagging lunch can help you save lots of money over time. This is not only less expensive, but can also help you save on healthcare related costs. Frequent eating out can lead to unwanted health issues. Falling ill costs you lot. So, start having meals at home, rather than dining out. It feels good to cook up new recipes and share them with family members and friends. These “happy meals” also serve as a huge boost for your health.
  1. Using utilities responsibly – It is expected that as an adult, you will learn how to use the utilities wisely. It can help you save lots of dollars. So, if you have the habit of forgetting to switch off the A/C or the lights when leaving a room, start doing the right thing. If that seems impossible, install a power strip than turns off electronic items attached to it when not in use. Keep heating and cooling systems set to a moderate level. Opt for basic programming packages where you can get a phone connection, cable connection and net connection from the same service provider.
  1. Making wise use of your vehicle – Rather than always using your own car, join or form a carpool for going to work. If you think that your office, college or the mall is at a manageable distance, walk rather than drive.

Learn how to live better for less. Come to terms with using secondhand items (whenever safe), avoid making impulse buys, and avoid using the credit cards as much as possible. Follow these rules and it will be possible to lower your expenses, lower your debt levels and increase your savings.


About the author: Benjamin Beckwith is a financial writer and a blogger. He has profound knowledge on the different financial issues that are plaguing the current economy and he also offers practical solutions through his articles. He contributes his valuable posts to different financial communities, blogs and websites. He is the authorized writer of Debt Consolidation Care, a community which helps people eradicate debt out of their lives and also helps people know the facts about financial issues. To learn more visit

Wealth management and budgeting go hand in hand – Some tips

Avoid_debtAre you tired of managing your wealth and debt at the same time? Have you been wondering about getting help from the professionals or the financial advisors? If you answered yes, have you considered the extra charges that you’ll have to pay when you get help from them?

If you didn’t, you’re failing to understand some very important concepts. Wealth management and budgeting are both vital for a healthy lifestyle and if you’re not able to strike a balance between your personal finances and your budget, you’re bound to fall into debt. Unfortunately, there are few personal finance classes and because of that you need to understand and learn the financial steps necessary to keep debts at bay.

If you’re puzzled about how to manage your finances and also stay within your budget, here are some tips to consider:

  • Revisit your budget. Most Americans hate the B-word – budget – and this is the main reason behind the rising personal U.S. debt level. Most people think that budgeting only deals with pinching your pennies but this is not the case. Budgeting actually means maintaining a balance between your income and expenses. Staying within your income is something that can be done by following a budget. If you see that your expenses are more than your income, you need to revisit your budget so that you can get back on track.
  • Check your savings account. Check your savings account so that you’re sure you have enough money to cope with a “rainy day.” If you have been saving your dollars under your mattress, you’re making a mistake. The best plan is to choose a high-yield savings account so your money can be earning interest. The more you save, the more you’ll have available when you go through dire financial straits.
  • Stop using your credit cards. You must know that the credit cards are the main reason behind your poor financial state. Only when you stop using your credit cards will you see your debt level decrease. If you keep using your credit cards, you will continue increasing your debt burden and it will become even more difficult to get out of debt. Start using cash instead of credit and don’t waste your money on items you don’t truly need right now.
  • Negotiate with your creditors. An important part of wealth management is effective negotiation with your creditors so that you can opt for an alternative plan that will make repayment much easier. If you relate your financial hardship to your creditors, it is very likely that they will alter the repayment schedule and make it easier for you to payoff your debt in more affordable monthly payments.

Try these tips and see if you can manage your wealth and follow a budget. If you still can’t get out of debt, you may to get assistance from one of the debt reduction companies that can help you repay your debts more easily.

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Author Bio: Benjamin Beckwith is a financial writer and a blogger. He has profound knowledge on the different financial issues that are plaguing the current economy and he also offers sound solutions through his articles. He contributes his valuable posts to different financial communities, blogs and websites. He covers topics such as the U.S. debt and the impact on the economic growth, ways in which debtors should rein in their finances, ways to reduce debt, budgeting and personal finance tips, the pros and cons of consolidating debt and many more.

Find a ‘Free’ Business Coach

free_business_coachI once wrote all of the website copy for an experienced business coach. Whenever I take on a project like that, some of the first steps involve scouting the competition and trying to determine who has the best websites.

Reviewing different sites for business coaches, I found that a person can learn a lot about what business coaches would do just by looking at their websites. In other words, you can get some good business coaching without paying for the coach.

As well as writing this coach’s website, I have other clients who are business coaches or who are professionals that consult businesses in different ways. I do a lot of ghostwriting and editing for these clients. In the course of this work, I have gathered some favorite websites that offer ideas to improve businesses.

Be your own coach

Think of these as the beginning of a “do-it-yourself” business coach. I suggest you explore a wide variety business coach websites yourself to glean tips and possible directions for your project. By the way, there are coaches who specialize in certain niches. I found one who specializes in yoga studios. Search for a specialist in your area.

When you start to explore various business coach websites, you have to dig a little to find where they have hidden away their tips. This coach specializes in restaurants and the site’s blog offers a lot of great advice.

Check out the homepage of this coach’s website. Scroll down to the box that has the headline, “What’s gotten you here, won’t get you there.” You’ll find a long list of areas where they coach businesses to improve, like time management, communication skills, selling skills and CRM development strategies. If you feel you are weak in any of these areas, do additional online research to find ways to improve.

Take the quiz

I initially got the idea to write this article when I found a site that offers a rather extensive quiz for business owners or managers. Take this quiz and answer the questions honestly. As you work your way through the process, the quiz itself will cause you to think about the various aspects of your operation. The areas that need improvement will be revealed by the time you finish the quiz. At that point you’ll probably realize what you need to do to get your business back on track.

Of course, after looking at the websites for a variety of businesses coaches, you might realize that you need far more advise than you can gather on your own. Now you’ll have a good overview of the available coaches and be in a better position to hire one.

Finally, if you think you have all of this down, maybe you should consider starting your own business coaching service…