April 2004 issue of Lifetime (p.102-105) an article emphasizes housing, transportation, groceries, entertainment and travel, and telecommunications and energy as 5 spending categories where the consumer might cut back. Interestingly the article also includes a typical list of spending habits along with the yearly cost to the consumer.

Going out to lunch at work .$1,750Wine and beer at restaurants$1,040Wine and beer at home.$936Bottled water….$576DVD rental….$480Hair color at the salon….$426Cigarettes…$416 One look at these figures and it’s easy to see the potential savings Gene Jolley sees. Converting those savings into extra payments on debt is actually an investment. In fact Jolley states “paying off debt creates a guaranteed return on investment” adding, “if you have a debt charging 12% and pay it off, you save 12%.

Do yourself a favor, make an inventory of your spending habits, find ways to save, and eliminate debt. Invest in your future. Gene Jolley is the creator of the Rapid Debt Reducer PC software, helping people to achieve real financial freedom.

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