I just love these notable quotes from financial experts that can help you with your finances:
Dave Ramsey, “Live like no one else, so that later you can live like no one else.”
Gail Va- Oxlade, “Getting to debt-free is simple, but it isn’t easy.”
Gail Vaz-Oxlade, “A goal without a date is just a dream.”
Okay, so what do they all have in common. Well, Ramsey’s and Orman’s quotes are essentially saying the same thing. You must spend less than you earn but be able to cover your NECESSITIES, not your wants or desires.
Vaz-Oxlade’s statement do not say the same thing as the other two. However, she does tell you that you can be debt-free. Although, it will take hard-work on your part. Also, you can have all the goals or plans in the world, but unless you set a date for completion, you are only dreaming.
You could say, “I want to be debt-free.” Good, right? No, you need to say, “I want to be debt-free within 2 to 5 years.” Or however many months or years it is going to take you to dig out of the mess you’re in. You might have to sell some stuff, give up some stuff, like cable or satellite TV, or you might have to get a part-time job. You must be willing to make whatever sacrifices you need to get you to debt-freedom. Apply that extra money to your debt. Don’t spend it on wants or desires. If you do this, you can achieve freedom from debt within whatever time-frame you set. Remember to use a spending plan.