In order to have extra money to pay towards debt, people must be willing to trim their financial fat. So what is financial fat? Financial fat is anything extra that people spend money on that does not include basic necessities (Food, Shelter, Clothing). For instance, when somebody needs a new cell phone, they can look at the free phones T-Mobile, Verizon, and AT&T offer, instead of spending lots of money on a new one. So here are a list of fattening consumptions:
- Cable
- Extra Cell Phones
- Movies/Rentals
- Magazine subscriptions
- Dining
- Cleaners
- Lawn Maintenance
- Beauty treatments (spa)
- Monthly gym memberships
- Newspaper
- Internet Providers
- Impulse Shopping