1. Spend less than what you make.
2. Avoid credit cards. And you can't get out of debt by borrowing.
3. Your home loan by bank standards should be 25% to 33% of your income. This will be taxing on you and will make getting out of debt hard. Shoot for less. I like to try for 20% or less. If you and your spouse net $4000 a month shoot for a house payment around $800.
4. Always have at least $1000 emergency fund.
5. Pay all your debts next.
6. Then save up three to six months income.
7. Invest 15% or the max you can in an IRA or your company retirement plan after you are out of debt and have six months emergency fund.
8. Avoid commercials and advertising as much as possible.
9. Pay off your car.
10. Drive an economical car.
11. Have a plan for financial independence that includes: Getting out of debt, saving, and living on what you make.
12. Have a plan for low cost to no cost entertainment.
13. Keep your house stocked with nutritious food.
14. Cook.
15. Pack a small cooler or lunch box and carry "car food" to avoid the temptation of eating out.
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