Do Hispanics know Como Vivir Debt-Free?

I know that in about three months, I will be debt free and it’s going to feel so good. It’s going to take me about 2 years of very hard work and making sacrifices to achieve my goal of being debt free, (no car payments, no student’s loans, and no credit card debt). I can’t wait to see most of my money being distributed into my savings account, long term investments, retirement, and fun savings account for travel.

Bottom line, in order to make this goal achievable I have been living very frugal. Frugality is one of the most important things to be debt free.

The most important thing that I am going to take into consideration once I become debt free is to stay debt free, (aside from a future mortgage). Now a key point I’d like to point out is that becoming debt free is completely different than living debt free.

If I pay off my debt in a few months, and then I go buy a bunch of crap I don’t even need, it will make no sense and it won’t be the thing I call “vivir debt-free.”

A few tips for my Latinos paisanos:

1. Living at home con la familia is tradition. So stay there as long as you can and save some money on rent.

2. Carpooling is a common thing for Latinos. So do it and save on gas and car maintenance.

3. Stop buying clothes. If you have to go to goodwill all the time to give old stuff away you don’t need more clothing. There’s a new fashion every month, (good luck trying to keep up).

4. Don’t go and buy a SUV Tahoe or Range Rover “solo para impresionar people” It will be cool for six months, but on you 2^nd year of making payments you’re going to hate it. Besides you don’t need if you don’t have at least 3 kids.

5. Don’t go to buy a Flat screen T.V. and surround system for 5K and sign up for cable platinum for $300/ mo.

6. Don’t go out for drinks and food every weekend and spend lots of money.

Being debt free gives you choices.
Save up
Pay off debt
Buy the things on you priority list with “cash only”
How do you stop yourself from wasting your money? It’s your choice; you are a big boy or a big girl, Que no?

Puedes vivir debt-free?