Start At Zero?

Why work yourself to exhaustion only to have nothing to show for it?

  • Work to pay off debt, yes
  • Use every extra penny to pay down debt?  NO!!

Why not build some savings and invest in something for your future?

Compound interest and time go hand in hand.  The more time you have, the more interest you receive.  So, while it’s wonderful to be debt free, it’s not wonderful to be near retirement and have nothing set aside.

Even if you have a small amount today, save $1.00, $5.00, or $20 out of every paycheck.

Start picking up loose coins if you have nothing left to save.  Definitely find ways to boost your income or add another source of revenue to increase your savings.

Why not become your own lender?  How about building your credit by using a savings secured loan or credit card. Your savings remains in tact while you build your credit profile.

You should absolutely stop the leak and fill in the hole you dug yourself into , but to leave absolutely no margin is not wise at all.  If there is an “emergency” you will feel the need to go back into debt; and unfortunately, the worse your credit file, the worse your lending options become.

In the book The Wisest Man in Babylon, many of the characters are told “A part of  all you earn is yours to keep.”  If you’re in debt,  you still have to eat, you still have to make sure that you have a roof over your head and clothes on your back.

You must secure your basic needs BEFORE you are able to pay off debt.  Make saving for your future part of your basic financial needs, as well.

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