Gary North

July 2, 2009

You should get started today. Start figuring out ways to cut your spending. Use this site to help you do this.

Your spending is habitual. You must change your spending habits.

To do this will take 30 consecutive days. This will be very difficult. On the 30-day rule, read the following:

The 30-day trial
Breaking bad habits
Coping with stress

Goal: try to cut back your spending on one new item every day. Don't increase your spending on any of the old ones.

This is the downward ratchet effect.

If you find that you just cannot do this, find out why. This is the time for uncompromising self-examination. Deal with the cause when you cannot deal with the symptom.

But you must overcome the symptom at some point. It's best to do this by dealing with the symptom, but a victory over a symptom is better than no victory at all.

If you cut spending on marginal items -- easier -- you can begin to gain the self-confidence required to cut big, non-marginal items.

Cutting spending on small items will not get you debt-free. But getting the habit of cutting spending will help you become debt-free.

Work on your budget to identify small items that are like ants that are eating you alive. Don't have this on your headstone: "Eaten Alive by Miscellaneous"