Confessions Of A Former Shopaholic by MP Dunleavey (NAPSA)—You might think paying down debt would be near impossible in this economy, but think again. The Womenin Red, a nationwide network of hardworking women (and some men, too), has shed more than $4 million in debt over the last 3% years. What’s their secret? Are they financial superheroes? No, they're i just ordinary folks Be extreme. Small mea- sures are good but drastic moves are better. Get a roommate or a second job. Extreme measures are necessary because it can take more time and money than you think to dig out of debt. * Use cash whenever you can. Debit cards and credit cards make spending seem painless, but numerous studies have demonstrated that people spend more like you and me who have managed to | strip away the myths around money and when they use plastic. Get real MP Dunleavey_ and their own bad friends. Tell them what you can or can’t afford. It’s painful to tell a ae overcome the odds habits to beat debt and find financial sanity. Here arefive tips for eliminating debt: * Commit more than money. It’s essential to change your habits—how you think, how you live, how you spend and how you eat. You not only have to give up the actual habit but the habit of letting yourself want things. You have to begin to live the debt-free life long before youre debt-free. Know where your money goes. Tracking spendingis often what makes the biggest, continuing difference in people’s financial lives. Buy a notebook and jot down every penny you spend, or use your phone, PDA or computer to do so. Knowing you have to write it down will deter you from spending. about your spending and leave the plastic at home. Speak up. It’s important to discuss money with family and friend you don’t have the money to attend her birthday weekend at a fancy resort, but being honest with yourself and others about what you can spendis crucial to getting out of debt. To learn more about debt reduction tips and to follow the Women in Red, go to www.money.msn.com. Ms. Dunleavey is an awardwinning financial columnist who, with her husband, recently paid off the last of her own $30,000 of credit card debt. On MSN Money, Dunleavey fosters an online community of women striving to eliminate debt and provides a forum for them to share their stories, advice and experiences.
