The quest to become debt free is something that can probably be best demonstrated through looking at billionaire, Warren Buffet. It is important to note that this is a man who could do just about anything. If he wanted to buy an island with a castle on it, or build an island and a castle, he could. 

Instead, he lives in a home that he purchased in 1958 for a mere 31,500 in Omaha Nebraska, five minutes from his office. It?s worth much more today, but even at an estimated 1.2 million dollar value, it is a very modest home for a man with his wealth. 

Why didn?t he take on more lavish accommodations? The answer is simple, it?s all he needs. He notoriously lives simplistically for a man with such means. He never spends more than 4.00 on breakfast and when the market is down he takes the cheaper option, saving 20-30 cents. 

I get it, houses rarely cost 31,500 these days, but I hope the point gets across. In our world of excess, if we want to be free of debt, we should try to live within our means and make certain that what we buy is needed or truly adds value to our lives. 

Does Starbucks coffee add more value to your life than one you can brew at home? Probably not. Does eating out add more value than eating at home? Sometimes perhaps, but most of the time, does it? I?m not suggesting that you shouldn?t drink Starbucks or eat out. I?m saying that you should know what it costs you and decide if that?s worth it to you. 

A habit of 5.00/day is worth 1825/year to you. 10.00 a day? 3,650 a year. Take a look at your spending habits and decide if the yearly cost is really worth it to you to get that coffee, eat out, or whatever you do that you don?t have to. If it is worth it to you, excellent, and if not you know what to do about it.