My plan is to achieve financial freedom. I intend to achieve my goal by 1) eradicating my debt 2) saving 3) investing in assets which provide income.

This will take some time to achieve. One of the fundamental tools I will use is a budget. There are many apps available which can be used for budgeting. I have tried and tested ALOT of them. However, what I currently use to manage my money, is a good old fashioned spreadsheet and a free app called Spending Tracker.

In my spreadsheet, I list all my outgoings on one side, all my incomings on the other side. I then subtract the totals and put what’s left to paying off my debt. Once my debt is paid off this surplus money will go toward building my wealth.

I use the avalanche method to pay off my debt. This means I overpay on whichever debt has the highest interest rate and only pay minimum payments on the others until hopefully all will be clear. Some of my contemporary debt busters favour the snowball method, they begin overpaying the debt with the smallest balance and progress from there.

In order, to pay off as much debt as I can within my means, I have reduced my outgoings as much as possible. I regularly review my financial commitments to ensure these are as low as possible i.e. switching energy company to lower rates, transferring credit to lower rate deals, reducing my food bill.

I have a long road ahead of me until I achieve my goal. However, I intend to enjoy every moment of it, find satisfaction and happiness in the small things. Those small things, incidentally, don’t always have to cost anything.