My Journey to Eliminate Debt

Eliminating debt, downsizing & seeking a simpler life.

GOIN’ GAZELLE!

 “Every morning in Africa, a Gazelle wakes up. It knows it must run faster than the fastest lion or it will be killed. Every morning a Lion wakes up. It knows it must outrun the slowest Gazelle or it will starve to death. It doesn’t matter whether you are a Lion or a Gazelle… when the sun comes up, you’d better be running.”

Ready for Gazelle Intensity?  Get your running shoes on then and lets do it!

Here’s some ideas for Going Gazelle!

What can you deliver?

  • pizzas
  • newspapers
  • phone books
  • catalogues

What services could you sell and where?

  • babysitting
  • ironing
  • housecleaning
  • gardening
  • mowing
  • lawnmower repair
  • bicycle repair
  • cooking
  • writing
  • sewing
  • web skills
  • professional skills
  • elance.com
  • odesk
  • fivrr
  • put ads around the neighborhood shops

Where can you find extra money to snowflake?

  • gifts
  • money from survey sites
  • savings from your budget categories, no matter how small, so your under $4, transfer it to debt
  • collect coins from around the house
  • save all your coins / bills of a specific denomination ( eg $2 coins, $5 bills)
  • calculate what you save when you get a bargain, you negotiate a $10 discount, transfer it to debt
  • tax refunds
  • transfer odd amounts over a set limit, eg over $50 so transfer anything over that to debt
  • overtime
  • tips

What can you go without? even if it’s just for a week or a month, transfer the money you would have spent to debt.

  • coffee
  • lunches
  • take out
  • eating out
  • going to movies
  • buying food at the movies ( ouch!!)
  • alcohol
  • beauty treatments

What can you cancel?  Anything that you sign up for that takes a regular payment is up for review, especially anything that has MONTHLY billing! These programs make money because the majority of people sign up and forget to cancel.

  • diet programs
  • itunes
  • online gaming sites
  • audible
  • other accounts, membership sites you signed up to but don’t use
  • gym memberships
  • movie clubs
  • pay TV
  • netflix
  • recipes / meal plans – there are thousands of free ones!
  • making money memberships – pay off the debt – don’t waste thousands of $$$ trying to get rich!
  • phone plans with all kinds of extras
  • anything ‘of the month’ clubs - book – movie – music – website – plr – beauty products etc.
  • coaching clubs
  • membership forums
  • automatic annual rebilled products e.g. internet security progams. Because it annual you forget about these till they’ve hit you up for another year

What overpriced products do you buy?

  • cleaning products – go generic or go natural to save big
  • hair care products – ladies you know what I mean!
  • toiletries
  • health supplements – especially if sold by a multi -level – marketing company
  • clothes – c’mon, how many of those do you really need? buy on sale or at op shops
  • stationary – put those moleskins back on the shelf!
  • electronic gadgets – wait a few months and they’ll be much cheaper
  • kids “stuff”
  • baby – “stuff”
  • food – grow some veggies, visit the farmers markets, cook from scratch

What can you sell and where can you sell it?

  • books
  • fitness & gym equipment
  • sporting goods
  • furniture
  • kitchen goods
  • old car parts
  • clothing
  • basically everything you can see in your house that you no longer use can be sold somewhere
  • ebay
  • fishpond – Australia – best place to sell your books
  • oztion – Australia – cheaper than ebay but takes longer to sell
  • craigslist
  • garage sales
  • buy swap sell meets
  • put an ad on noticeboards around town

 

Check out this excellent post on snowflaking your >debt by Get Rich Slowly

…. more to come….

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Dave Ramsey Steps

Current Step: BS4 & 6
BS1 Done
BS2: $36400 Done (refi Jan.2012)
BS3 $6000 DONE
BS4 9% emp.cont.($126000) setting up a SMSF
BS5 n/a
BS6 $0/$200,544

-----------------------------------
Baby Steps
Pre BS 1- get current on all bills
BS1 $1000 BEF
BS2 Snowball debt payoff
BS3 3- 6 months FFEF
BS4 15% income to retirement
BS5 Childrens college fund
BS6 Pay off home early
BS7 Build wealth & give!

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