Tip 1 to get Out of Debt: How to Find Excess Spending

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Do you have credit card debt? Are you earning less money than you were a few years ago? Are you struggling to stay afloat?  You’re not alone. Many people are in the same boat as you are today.

Tip 1 Look for Excess Spending

Many people have asked us how do we manage to have no debt (except for our mortgage) while also having 12 children.

Well, over the next 31 days, we are going to share a series of tips with you on how you can manage to keep your finances in check and get out of debt.


Tip # 1: Look for Excess Spending!

Research shows that the average household spends around $500 a month on unnecessary spending.

When you’re in debt trying to get out, there is some specific monthly spending you need to reduce that you don’t really need, like the excess spending on:








Health clubs payments

Gift giving

Car payments


(We have tips for these we will be sharing throughout the month).

The first step is to find areas you are spending money and realize where all the money is going.

Go through your bank and credit card statements and look for unnecessary spending. To do this start by using a highlighter marker and go through your statements line by line and highlight the lines where you could reduced or eliminated the spending completely. Be honest with yourself about the purchases.

When you’re done, add up the highlighted lines.

Now, add to that total with the total of the cash spending you did throughout the month on unnecessary items and get a complete unnecessary spending total. I think you might be shocked.

Follow us over the next 31 days as we share tips on how we keep our spending in check and still be able to have fun, enjoy ourselves, have quality family time and keep ourselves debt free.

We love to have comments. Let us know how you are doing with your check list. If you have any questions comment below.

See you tomorrow.

Parents of a Dozen

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