Im fortunate to have an excellent financial planner who in turn works with an excellent team of financial specialists. These specialists scrutinize all aspects of finance including taxes, insurance, saving and budgeting. They have a wide range of clients, from the average Joe to multi-millionaires. Knowing whether I am spending more than I earn is probably the simplest and best advice he has ever given me. Here is that strategy plus a few others for reducing debt and living a life with less stress and more freedom.

Are you spending more than you earn?

Isnt it incredibly easy to have money mysteriously float away each month on purchases you simply forgot? We know we have monthly bills, but a persons got to live, eh? Are you scared to add up those credit card purchases each month? And then months become years, and the money continues to float away. If you really think about it, keeping track of your money is easy. All it takes is paper and pencil. One column for debts and one column for income; add them up each month, subtract the difference and see if you spend more than you earn. Once you clearly see your spending habits on paper, you can no longer hide from them. This is by far the single most important step towards debt reduction and wealth creation. Being completely honest with yourself is the first crucial step towards incorporating positive financial change in your life. Are you spending more than you earn? Credit cards got a hold of you?

Understand how emotional intelligence and your values can rid you of crazy monkey brain.

How many times have you innocently walked into a store and found a million reasons why its okay to purchase something? This is the last time I will buy this. My credit card balance is low; its okay. I love it and its on sale! Im not doing this for me, Im doing it for them. Hey, I have some extra cash! We all have these emotions and thoughts coursing through our heads at some time. Real millionaires with solid finances realize that spending money on stuff doesnt buy lasting happiness. In the short term, its pleasurable but financially disastrous. So the next time you have the spending bug, take a moment to simply appreciate everything you do have. Appreciation is a powerful emotion and a fantastic core value. Appreciating your family, friends, health, nature and the simple pleasures in life will make you realize that spending wont buy happiness. Use your emotional intelligence. Make appreciation a core value. Real millionaires respect the dollar but place appreciation, gratitude, family and friends before all else. You most likely dont need to buy it.

Hold on to your own reality. Dont give in to the advertisers.

In this information age we are continuously assaulted with advertising images trying to convince us to buy, buy and buy. Bigger, better and faster. We will look more successful. We see celebrities using their names to sell almost anything. Tiger Woods drapes himself in Nike from head to foot because Nike is trying to convince us that it is a groovy and respectful company. We begin to respect Nike because Tiger Woods uses them. Tiger has sold his image. Using my treasured rock songs to sell cars, computers and any other consumer product really offends me. The Who, Led Zeppelin, Aerosmith and The Rolling Stones do it and have sold out. The Doors have not (completely). Advertising images and music are reality. Success isnt about exciting rock songs and getting everything you want. It isnt about looking like Tiger. Spend your time on what is truly important to YOU and not on what the advertisers tell you. Close the television and get outdoors. Take a hike in the woods. Marvel at the beautiful sky. Life can be magical at times. Sometimes its the simple pleasures that are the most rewarding.

Note: Although they allowed one song to be used in the 70s, here is what the drummer Densmore from the Doors said recently being offered millions to use their music for Apple and Cadillac advertising. From the LAtimes

"People lost their virginity to this music, got high for the first time to this music," Densmore said. "I've had people say kids died in Vietnam listening to this music, other people say they know someone who didn't commit suicide because of this music. On stage, when we played these songs, they felt mysterious and magic. That's not for rent."

Lets summarize:

1. Take action today to spend less than you earn. It will reduce stress and release those shackles of debt.

2. Your emotions and thoughts can easily make you spend more. Use appreciation or gratitude to realize what is truly important in life.

3. Dont let the advertisers make your reality. Your reality and beliefs should have little to do with snazzy rock songs and advertising.

Please consider this article for your website, blog or ezine. Permission to reprint if by-line stays intact and links are activated on the Internet.