Cutting up those credit cards and paying off your debt may be one of the most difficult of the frugal living tips for people to follow. You don’t have to be in a bad financial situation to put yourself on a budget. Actually, the best time to get out of debt is in the good times so that things are easier when you hit the bad times.
Using cash will help you keep track of your spending because if the cash is gone you know you’re done and if you’ve cut up those credit cards then there is no way for you to overspend. Putting that money that you are not wasting towards your debt will eventually open up more monthly money for you. If you have three hundred dollars in monthly credit card bills and you pay those off then you just made yourself an extra three hundred dollars a month! Not to mention how much you will save in interest by paying off the debt early.
Pay off your debt to create a more frugal home.