Freedom Friday ... On a Mission Free from Debt

“The man who never has money enough to pay his debts has too much of something else.” -James Lendall Basford

Have you ever thought about what life would be debt free?

The cost of living is constantly rising and people’s personal debt is on the increase as well. People are finding it hard just to make ends meet and meet the ends. Does financial freedom exist is in most people’s minds. Most people want to know how to achieve a life that is debt free, or at the least, where the ability to pay every day expense’s and provide for the family without needing to go into debt. Those are big shoes to feel especially with the fact that daily expenses are often reoccurring. You will always have a gas bill, an electric bill and possibly a phone bill. Not to mention expenses for living life shelter, food and transportation.

“The only man who sticks closer to you in adversity than a friend is a creditor.” -Unknown


Nevertheless, achieving financial freedom does need not be difficult. People with a poor credit rating can turn their lives around and achieve a better rating simply by making financial goals for their life. Setting goals is the cornerstone of achieving anything in life. Financial planning is not just for the rich and famous. Anyone who wants to achieve financial freedom must and should engage in financial planning. Assistance can be obtained from a professional or one can begin the process by themselves.

Financial planning is about taking control of your financial situation instead of allowing it to control you. It is about creating goals and then committing to them. The reward for this action is the financial freedom you are so craving. This freedom will enable you to be debt free and save money regularly, while also having money to spend on the things you enjoy most in life.

Achieving financial freedom involves three major steps that you should plan on

Formulating a budget that is doable and workable

Creating a budget means ensuring income does not exceed expenditure and the goal of the budget is to create a life style plan that covers all expenses and provides extra for saving and personal spending. It involves not only listing the current income sources, but potential other sources to increase income if required. The interest paid on debts is a constant drain on finances. While it may seem logical to pay off small debts and then focus on the large ones, in fact paying off the larger debts first will save money in the long-term.

Sticking to and living within the budget

A budget is only as successful if there is commitment to live within the budget and resist impulse buying and anything that may cause voluntary over expenditure. The exception to this rule is the true emergency, which although not budgeted, is covered by the savings plan you have put in place. If you have plans to buy furniture or other expensive items, delay in doing this until you are debt-free

Build cash reserves and an emergency fund

Allocate a weekly fixed amount of money and stash it away in a savings account. Do not compromise on this amount for any reason. It is the key to your financial freedom and should be the motivation for you to make it a habit. Once you have enough for an emergency fund, typically 6-12 months of income, pay more down on your debt. As you decrease your debt, start looking towards the future for other wealth building strategies and income producing vehicles.

“Debts are like children: the smaller they are the more noise they make.” -Spanish Proverb

Earn extra income

If you full time gig is not cutting it, you may want to think about getting a part-time job or starting a business. Any extra that you earn can be used to eat down the debt. It always helps to have something extra so that you don't find yourself worn out and uninspired to meet your goals. There are many things that you can do to bring in extra money. I always advise to seek what you enjoy since you will be spending your down hours working. If working another job isn't possible, then starting a business on your schedule and time may be a bright idea.


Financial freedom may seem like a dream to many. Especially to those who are so deep in debt that it's impossible to come up for air. Nevertheless, if you stay focused on your desires and commit to making a change, being debt free is possible. You must believe it and act on your desires in order to make it a reality.

The first thing you need to do is start and succeed from there.

I am Nichelle Womack! As a people building, life transition strategist, I specialize in helping you reach your greatest potential through self-reliance and internal motivation. I provide inspiration through community speaking engagements, one on one consultation and group/team training. Positive thoughts and language are my fuel for energy and my desire to help you find yours. If you are interested in a free 15 minute session of coaching, contact me @ Looking for more great life tips, check out “The Master Tip Manual for Personal Success” @ . Many blessings and much success to you!! Check out my websites @ and Connect with me on Twitter and Periscope @NichelleWomack and download my podcast @ "The People Connect Podcast."