Leo, a blogger over at ZenHabits and an excellent writer, recently posted about his achievement of becoming debt-free. With so many people crippled (or at least stressed) by the amount of debt they carry, I want to pass along his tips.
An important factor was the creation of a spending plan for each paycheck:
I don’t like to use the word “budget” because it strikes fear in the hearts of many readers, and blank stares in the eyes of others. Instead, I like the term “spending plan”, because it conjures images of creating a plan to achieve a goal, taking action, and doing something about your problems.
See his full article, “10 Key Actions That Finally Got Me Out of Debt”.