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STEP 6: Money Saving Ideas

Making Hard Choices and Establishing Spending Guidelines

It is time mention some money saving ideas and talk about spending guidelines. It is also time to make hard choices.

For many people, the debt load becomes too heavy and it is difficult, or almost impossible, to pay off debt and get back on track with life.

Spending guidelines may have been non existent in your life. You may have spent money without thinking you would find it this difficult to pay back what you owe. Or maybe health or job circumstances have put you where you are today.

Whatever the reason, the truth is that for some of us, difficult choices have to be made. If you are over your head in debt, it is time to think about how to save money and cut spending.

What can you sell and how can you change your lifestyle to get out of that debt ditch? Here are some money saving ideas that you may not have thought about.

Your House

Have you bought too much house for your family income to maintain? Even though most of us would love a huge home, it may not be what you can afford at this time. Putting your house up for sale and moving into a more affordable home may help you pay off thousands or tens of thousands of dollars in debt.

Your Car

A large or luxurious car may seem like a dream come true, but that dream may have to be put on hold. Do you really need the fancy car or big SUV? Selling your car and buying a more moderately priced vehicle may be a real solution for you at this time.

Private School

Private school tuition fees can be extremely steep and if you have chosen private schooling for your children, this might be the time to rethink that choice.

As always, you have to really sit and evaluate your priorities here. Is it that important that the kids go to the best school around? Actually most self made millionaires had pretty humble beginnings without private education.

Returning Excess Purchases

A lack of personal spending guidelines has left many people the owners of a lot of things. But those huge TVs, electronic games, multiple computers, motorcycles, clothes and beautiful pieces of jewelry have put you where you are today.

Here is another of our money saving ideas: Returning the new purchases and selling some of the larger items will not only help put you back on track financially, it can give you a huge lift in spirits to know you are doing something more positive for yourself and your family than these purchases could ever have accomplished.

Find more money saving ideas and ways to earn extra income in our next Debt Ditch Solution step.




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To achieve financial freedom, ideas such as: listening to good advice, learning how to make a budget, understanding credit repair possibilities, avoiding the scams, and generally becoming more knowledgeable of the credit card business, can all play a role in eliminating credit card and other debt. There is A smarter way to manage your money.



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