Cash & Curls

Once you get it, help someone else get it. 

It’s official! I am officially debt-free!! (woohoo) I paid off $57,747 in 31 months. I paid off 2 credit cards, 1 car loan, and a $50,000 student loan. 

I’m not going to add any fluff, I’m just going to hop right in with the keys!

Here are 10 keys that helped me get out of debt:

🔑: Developing a budget.

A budget is simply a plan for your money. You MUST have a budget if you plan to get out of debt. You must also track your expenses.

🔑: Using cash.

Using the cash envelope/clip system really helped me reduce my spending. I have a blog post strictly dedicated to the cash clip system be sure to check out: https://cashandcurls.com/the-system-that-helps-you-spend-less/

🔑: Saying no.

You have to say no. There will be times where you will have to listen to your budget and say no to parties, weddings, and social gatherings. Get comfortable saying no!

🔑: Visuals.

Having some type of visual to keep you motivated is a major key. This visual can be a vision board, a photo of your family, or a tracker. I have a blog post strictly dedicated to the tool that I used to keep me visually motivated. Check out: https://cashandcurls.com/the-tool-that-keeps-me-going/

🔑: Surrounding yourself with like-minded people.

For me personally, I was the only person in my family and in my friend’s group trying to pay off debt and get my finances in order. But I did have the internet! I am extremely thankful for the internet and social media. Throughout my journey, I met tons of great people on the same path as me in the #debtfreecommunity on Instagram. I highly recommend following content creators in the #debtfreecommunity. 

🔑: Reduce your expenses.

Freeing up your income is crucial.  You have to figure out how you can reduce your expenses. Shopping around for bargains and deals is major key.  During my journey, I got rid of cable and my gym membership. I also reduced the number of times I went to the salon to get manicures and pedicures. 

🔑: Learning and educating myself.

Getting out of debt was new for me. I didn’t know how to do it, I didn’t have anyone in my family to teach me how to properly handle money. So throughout my journey, I did a lot of reading. I read a ton of personal finance books. Here’s a list of 20 MUST READ finance books. https://cashandcurls.com/20-must-read-books-to-get-your-finances-in-order/

🔑: Making Bigger Payments.

I can’t stress this enough. You have to make bigger payments in order to see progress. If you can’t make bigger payments with your income, you may have to cut expenses,  work extra hours, and/or pick up a side gig. Get comfortable with paying more than the minimum. 

🔑: Changing your mindset and unlearning poor money habits.

I had a poor relationship with money and so did my family. I paid my bills, saved a couple of bucks, and spent the rest of my money on things that didn’t serve a purpose. I didn’t have a plan for my money.  You have to unlearn poor money habits. I was able to learn better money habits by taking Financial Peace University. This is a great financial class that I highly recommend. Check out https://cashandcurls.com/why-i-went-through-financial-peace-university-and-so-should-you/

🔑: Stop looking for someone to save you.

I know this may be harsh, but it’s the truth, especially when it comes to student loans! You have to stop relying on the government to repay your student loans. You got into this mess and now it’s time for you to clean it up. Create a plan for yourself. Not sure how to repay your student loans, check out https://cashandcurls.com/top-10-tips-for-paying-off-student-loans-fast/

That’s all that I have for you! I hope that these keys will help accelerate your debt-free journey. If you don’t take anything away from this post, make sure you have a budget and develop a detailed written plan. 

You can win with money, 

Jeanetta