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Editor's Note: Shaunta Alburger has agreed to write articles for ThriftyFun. This is Part 1 of a 4 part series she has written about her plan to go on a Debt Crash Diet in 2006.
Do you have to work a job that doesn't fit your life because you can't afford to quit? It boils down to one thing; you work the job for the paycheck. You need the paycheck because you have debt.
I have a solution. Go on a crash diet. I'm not talking about giving up food so that you won't need to work as many hours. Go on a debt crash diet. Are you serious about being a full-time writer (or something else)? I have a plan that could bring you one giant step toward that goal.
A debt crash diet is simply a year of very intense thrift, during which time debt is eliminated and savings are built. Let me put my money where my mouth is, and tell you that my family is going on a debt crash diet in 2006.
A debt crash diet will take fifteen months; three for planning, followed by that year of intense thrift.
Will it be easy? I really doubt it. We're cutting our food bill by 2/3 and putting off replacing our twelve-year-old minivan. For one year, we are giving up movies, eating out, gym memberships and cable TV. Our goal is to pay off nearly $20,000 in debt, and to save $12,000 in one year.
I'd like to ask you to stop for a moment and ask yourself what being completely out of debt and having a four-month supply of money would mean to you. Could you stand to live a work-optional life? I thought so.
I can't promise that a debt crash diet will make your full-time writing dreams come true. I can promise that when you're through, you will be working to pay for today, instead of yesterday with interest. You will have gained some valuable insight into which material needs are most important to you, and which you can give up for good.
By Shaunta Alburger
http://www.pennywisejournal.com
About The Author: Shaunta Alburger publishes The Penny-Wise Journal, a print newsletter for those who want to use a short period of very intense thrift as a means of getting out of debt and building savings. Visit her on the Web at http://www.pennywisejournal.com
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