This Is What I Do With My Wage

I used to blow my wage. I still do. Only now it gets spent on my debt. Before I began writing this debt blog I lived life unconcerned about money and the debt I'd accumulated. I lived for now, enjoying the moment at the expense of spending money like it was going out of fashion.

Sure the bills got paid and I never cared about my credit rating because the debt was there when I need to borrow money. I'd earn and spend, borrow and spend until one day last year it hit me that this crazy spending wasn't bringing me any satisfaction and I needed to do some financial planning for the future.

While I'd bring sensible enough to pay in my pension since I was in my twenties I still lived pay check to pay check and the real killer was my debt and horrible spending patterns. These pretty patterns felt great at the time. The problem is another word for pattern is habit. After my promotion I seemed to spend more and more. With more money I took on more debt and kept upgrading my phone, car and buy stuffing to keep up with friends and family.

The reason my debt levels are dropping every month is because I spend my income on paying off debt. After my company pension contribution, taxes and bill payments most of my paychecks go into paying off my debts.

By doing so my debt is dropping and I'm funding my future life and bringing early retirement closer. If you genuinely want to get out of debt some things will have to give and so hard choices should be made.

No doubt that it's hard not spending your money on other more exciting things. Spending on computer games, gadgets and fancy clothes is far more fun however you need to make debt a top priority.

I want my readers to get out of debt and stay out of debt. As this year comes to a close it's time to decide what your financial goals are for next year. What will you do with your wage each month? Spend, Save or Pay Off Debt? My advice is next year go debt free.