How to Eliminate Wants Until All Debts Are Paid
- 1). Create a family budget. List every expenditure for the month, as well as each item of income. "Find" extra money in your budget by eliminating unnecessary expenses, reducing non-necessary items, and cutting back on major areas of spending.
- 2). Earn extra money through overtime, extra shifts, or a second job. Also earn extra cash by selling unused items around the house through a garage sale or online auction.
- 3). Create a goal list for your debt repayment. List each debt, from the smallest to the largest. Create a timeline in which you will pay off each debt. Allow yourself a small reward when each debt is paid, to increase your motivation and reduce the want for items.
- 4). Place reminders of your goals around the house. Place sticky notes that describe items that you want to give yourself as a reward once a certain debt is paid.
- 5). Create a file listing all of your debts on your computer. When tempted to make a purchase, look at the list of debts. Remember that making the purchase will make your goal of debt reduction take longer--and see if that is enough to eliminate the want.
Source...