If you’ve been trying to tackle your debt or save up for a new home for some time now, you may be tempted to seek out long and complicated advice to help you in your quest. After all, if getting rid of debt and saving up for a big purchase can take months or years, then surely financial advice should reflect this long and complicated process, right?

Actually, some of the best financial advice comes from the oldest proverbs and wives tales around. Get ready to simplify your financial struggle by following these little pearls of wisdom, all of which are written in ten words or less:

Always put aside money, no matter how much. It can be easy to think that defeating your debt is all about making as much money as possible, or winning a huge sum from the lottery. However, even the smallest contribution towards your bills is a step towards the financial freedom that you deserve. Small but steady steps will always take you where you need to go, and will turn that raging river of bills into a small trickle in no time.

Know the difference between your needs and wants. Sure, this may sound like an easy one to figure out; yet many consumers have forgotten the difference between items we truly need, and purchases that we think we need. Needs are things like food, shelter, utilities and other things that help us to survive; wants are the added luxuries that will just plummet you further into the debt cycle, making it impossible for you to get out.

Buy quality. Sure, being smart with your money is all about finding cheaper purchases when you can; however, if you can comfortably buy a high-quality item, then by all means do so. Why is this, you might ask? Simple: high-quality items are typically backed by a company who will fix the item when it breaks down or ceases to work. This will save you loads of money on maintenance in the long run.

Save today what you want tomorrow. Your credit cards make it easy to go out and purchase whatever it is that you want; yet if you want that big-ticket item, save up for it instead of putting it on your plastic. You’ll feel better whenever you look at that new HDTV knowing that it’s completely paid off instead of accruing interest on your credit card!

If you need more money, make more money. Feel like your income isn’t enough to pay off that debt? Then stop complaining and make more money. You don’t need a second job in order to make a considerable chunk of change that can be put towards debt; instead, sell old books and clothes on ebay or have a garage sale with your family members and friends. That extra income will go a long way towards paying off your debt, not to mention give you extra room to breathe in your budget!

Next Post: Why You Need Mechanical Trading Systems?