It never ceases to amaze me that the people who say they want to become debt free do nothing to make it happen. They don't do basic things like creating a family budget to account for income and expenses. They don't identify a clear goal that they are working towards – rather they mumble something about wanting to get the banks off their back and expect that to be enough. Wrong. If you want to become debt free you'll need to be firm in your goals, your actions, your commitments and actually do something to make it happen.

Hard work is required too, and I don't mean putting in extra hours at the office or wherever you work. I mean work hard, but smarter. Start your own part time business, get a second job, cut expenses – do whatever you can do to increase your income and reduce your expenses. I know that it's tempting to buy the silly magazines at the supermarket checkout, but don't – please. By all means read them there if you must but don't buy them – it's a waste of your valuable money, time and resources.

Becoming debt free does not just happen by itself – you don't just wake up one morning and the debt fairy has waved thei magic wand and made it all go away. So don't be an ostrich and bury your head in the sand. This is really important stuff – it impacts your future and that of your family. If you can build a better financial position for yourself and your family, why not do it?

Dollar Fist (36452)

If motivation is your problem and you don't want to do without the little luxuries in life, why don't oyu do yourself a favour. Add up your liabilities each pay period. That is all your bills that you have an obligation to pay – include any loan repayments, card repayments, and other obligations you have to repay debt each period. IF your financial position is anything like the majority of people then you should be shocked by the figure you end up with. Write it down in big numbers. Seriously – you can do better.

Look at the figure you've written down. Imagine how much better off you'd be if you don't throw that money away on repaying debt each time you have money coming in? Doing the above exercise was a real wakeup call to me in terms of my family's financial position. I almost fell over when I realized how much better off we would be if we didn't have to divert funds elsewhere to service the debt we carried. What we did was work hard (and creatively) and saved on little things, and got ourselves debt free. Well – almost. We do still have some debt, but it's good debt in that other people service the repayments for us. Cool huh… Enjoy!