5 Simple Money Rules We Live By To Stay Debt Free

5 simple money rules we live by to stay debt free cover

Working Hard To Pay Off Debt May Be Challenging But Staying Debt Free Is Smart Money Management.


If you start by reading this post believing that you will never become debt free not only will succeed but you’ll also carry the burden of debt with you wherever you go.

Creating Money Rules are not just for people who are debt free but they are for everyone. It’s important to stop being so negative and start believing that you can pay off debt, save money and become financially free.

How else do you think people slay the debt dragon? That’s right they do it by themselves.

An email from a reader prompted Mrs. CBB and I to reflect on our life of debt freedom that we achieved just over 2 years ago when we burned our mortgage papers in the back garden. It was a party of two adults carrying on like kids while grilling steak, drinking beer and listening to music.

Our lives were about to change but there were no maids, drivers, mansions, private jets, gold credit cards and unlimited sources of income on the agenda. What we were left with was a clean money slate waiting for us to make more memories together but without creating any debt.

Related: Stop Blaming The Government For Your Debt Problems

We took control of our financial life and now we own it. It’s the best feeling ever and something that anyone can achieve even if you are earning a small income. You don’t have to own a house to be financially successful either but what you do need is to get rid of any and all debt before it consumes you, chews you up and spits you out. What you need to do is sacrifice and with that comes changes that many people are reluctant to make.

Dear Mr.CBB,

After a failed attempt using an app to track spending we searched the web and came across your blog. This was 2 years ago. We started budgeting using your free budget and have focused on saving money while paying down our personal debt. As we reduce debt we wonder whether there are any money rules that we should be following to either pay debt off faster and keep it off.

The scary part is that once we pay our debt off by the end of 2016 is that we don’t want to revisit that trip again. Since Mrs. CBB and yourself are debt free we were wondering if you could share some motivational inspirations that we can write in our money book to keep in our budget binder.


Chris and Kait

Thanks for your email Chris and Kait!

You know it’s wonderful when I get emails from fans who are running towards financial success which for many is simply becoming debt free which was our first goal before we turned 40.

Now that we have met hands with the big 4-0 and crushed debt we are building our net worth and by 2017 should trump the million dollar mark. The great part is that we are still young and have many savings years ahead of us as long as I stay healthy and my career takes me to higher places which I’m confident it will.

Although a million dollars is not much these days no amount of money can take away freedom from debt. That means once your debt is gone you can live a simple, frugal life like we are doing while building our retirement savings and investments little by little.

How does one go from debt sadness to financial happiness? You start by listening to people who are successful at living the lifestyle you dream of and then you go one better and meet them at the finish line.

I’ve followed bloggers over the years who started out with a small financial blog that was a hobby and have now quit their day job to focus on the hoards of money they are cashing in on. Not only are they debt free but the principles they use are likely the same as other successful person who no longer has debt worries.

Simply by eliminating debt, earning cash and building an audience of fans who want that same success is the making of a superstar business platform. If you don’t dream, you’ll never get to where you want to go and sometimes that requires a leap of faith.

I bet Michelle from Making Sense of Cents who earned a whopping $112,594.97 in July from her online blogging business and Greg and Holly from Club Thrifty wake up every morning thrilled that they did more than leap, they soared.

My point is that you can go from something small and turn it into an empire if you want it bad enough. The same goes with your debt repayment plan. You can take a large debt and turn it into a debt free empire that will free you from the number one worry most people in this world are slaves to, money.

When you become debt free you automatically have created money rules that you’ve lived by over the years and know they work so you will continue to live by them. Why change something that isn’t broke, right?


Debt Busters to the rescue


Sometimes it’s easier to get debt advice from a stranger than it is to talk to a financial advisor or a trusted family member because having too much debt can be embarrassing. Trying to solve personal debt issues can be a lonely room to sit in and dark money becomes your entire world.

Sometimes something as motivational as debt counselling is all someone needs to get back on their feet because it’s uplifting, challenging and can free minds of worry from unanswered questions. Believe it or not when people are far in debt they tend to answer their own questions with negativity. You may tell yourself

  • I’m never going to pay my debt off
  • I don’t earn enough
  • I’m not smart enough
  • No one will hire me
  • My income is crappy
  • No one likes me
  • I can’t save money
  • I don’t make enough money
  • I’m screwed but oh well there’s nothing I can do about it
  • It’s not my fault so why should I pay the debt

Sometimes it’s simply a case of motivating yourself to care about you and not what anyone else thinks. There are so many people around the world that are richer than rich because they believed in themselves when nobody else would.

Becoming debt free takes courage and lots of it because it’s certainly not an adventure that people book on a calendar it’s a path you take. What I mean is you don’t want money to be an evil that overshadows your existence.

Now that we are debt free and have no mortgage our world is a different place. We feel cleansed of the money stress that plagues so many people but we’re here to say it doesn’t have to be that way and we’re proof of that.

Credit card debt help always seems to be the number one issue when I get emails from my readers and it makes me hate plastic even more because I truly believe that without them the world would be free from a large portion of consumer debt.

Debt problems can start as early as emptying out your bank account, buying something you don’t need on credit or simply failing to reduce debt by paying bills on time. The first part of debt resolution is believing you will succeed otherwise you’ve already failed. Even if it’s going to take you years remember those years are better sacrificed than living your entire life praying to win the lottery. Odds are…you won’t.


5 Simple Money Rules We Live By to Stay Debt Free


I hope that many of you reading this today will be inspired to continue pushing towards debt freedom because it is real, it can happen and you WILL make it happen if you want to. Now that we have eliminated our debt we have 5 money rules that follow us wherever we go.

Stay on track by reminding yourself of two words


  1. Budget Monthly
  2. Pay Myself First
  3. Go Without
  4. Save First Spend Second
  5. Stop Comparing

Our money rules are laid out in a clean manner because if you complicate things you might just say, the hell with it. Don’t do that to yourself. There may be days where you will mess up and that’s fine but always remember to get back on track fast.

The longer you fall the less likely you will get up again soon, if at all. You must be your own money coach sometimes and although it may be frustrating and you want to throw in the budget just stick with it, you won’t regret it.


Creating the rules book in your house may be different from our money rules but basic principles still apply when it comes to sticking to a budget, living below your means and saving for today and tomorrow. Debt problems won’t go away if you continue to deny yourself the freedom to live by carrying weights on your shoulders.

Once you are debt free you may make money but you’ll also lose money but the name of the game is not to lose it all. Earning extra money by having more than one income source is a great way to stay on track financially.

Our savings rule has been and always be, “It’s not about how much money you make, it’s how you save it” I’d say our money rules have done well for us and we continue to revisit, revise and motivate each other as husband and wife so we can live the dream, our dream.

Debt freedom isn’t for everyone but I can tell you from experience, it’s certainly a nice place to live.

What are some money rules you have in place to stay debt free? If are close to debt freedom what money rules might you continue to adopt after you kill your debt?

Share your comments below!

Thanks for reading.

Are You New To Canadian Budget Binder?

Related articles







Share to...

Similar Posts


  1. We ditched $97,000 of secured line of credit debt while in retirement, it took us six years but feels so freeing. We are vigilant with our budget so that debt doesn’t creep back into our lives. It is never too late to be free of your debt, it just takes a lot of discipline.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.