This is a guest post by Kevin from The Red Stapler Chronicles - an up and coming personal finance blog about making money and get paid to websites.

1. “Get busy living or get busy dying”
—Andy Dufresne, Shawshank Redemption

The millions of Americans that are currently overwhelmed with debt and are on the road to financial ruin, really only have two choices.  They can immediately start taking measures to reduce their debt and spending.  Even if they are able to eliminate one monthly bill or pay an extra $25 on a credit card, they are “getting busy living” toward of debtless future.   Yes, sometimes the path to recovery can be a long and difficult one (probably not as bad as Andy’s path to freedom in the movie).  However, the second option, ignoring the problem, will quickly cause your financial life to end via drowning in a vast debt pool.

2. “Mama always said life was like a box of chocolates, you never know what you’re gonna get.” — Forrest Gump, Forrest Gump

If you can predict the future, you don’t need to be wasting your time reading any personal finance blog.  But, if you can’t, you need to prepare for unexpected events.  Sometimes these events will be tragedies (a layoff or illness), while sometimes they will be blessings (a pregnancy or wedding).  Regardless, a nicely funded emergency fund is a necessity.  Experts say a great fund would cover 6 months of living expenses.  Nevertheless, a thousand dollar emergency fund would surely be a good start.

3. “It’s not always the popular person who gets the job done.” — Gordon Gekko, Wall Street

Of course, I had to include a quote from Wall Street in this list.  Often, difficult decisions have to be made in order to eliminate debt.  These decisions are more than likely to affect others.  For instance, try explaining to your teenage daughter why you are getting rid of HBO, Showtime, and Starz to save some extra money.  Imagine how your co-workers might react if you start putting in extra hours in order to earn a promotion.  Regardless, if you are really determined to eradicate your debt, you will sometimes have to play the role of the bad girl/guy.

4. “You’re not your job.  You’re not how much money you have in the bank.  You’re not the car you drive.  You’re not the contents of your wallet.  You’re not your f**king khakis.” — Tyler Durden, Fight Club

Too frequently, Americans get caught up in a destructive possession contest (usually with a family member, neighbor, or in-law).  It really must be engrained in our DNA somehow.  For example, your brother buys a new self-propelled lawn mower—you get a sit down mower.    Perhaps, your brother-in-law boasts at Christmas table about his recent success in the stock market, you create an E-Trade account the second he leaves.   Would you take a job as a garbage man even if it had a higher salary and better benefits than your current job?  These types of decisions are rarely based on anything remotely close to real financial data.  Even though you probably will get a temporary high of being able to “one up” a family member or spare yourself the humiliation of telling someone you are a garbage man, these decisions are unlikely to provide any lasting happiness in your life.

5. “Life goes by pretty fast.  If you don’t stop and look around once in a while, you could miss it.” — Ferris Bueller, Ferris Bueller’s Day Off

I think everyone would agree that reducing and eventually eliminating debt is an extremely worthwhile goal.  Too many Americans are forced to live under extreme levels of stress because of their financial difficulties.  Still, life is too short to make EVERY decision in your life based on saving money.  You can still enjoy a trip to the movies to see the newest blockbuster (maybe sneak in your own snacks though J).  You can still go to your parent’s house across the country for the holidays (maybe you forgo the non-stop flight to save money).  The road to a healthier financial situation is not short and will not be a straight line.  Just keep your financial compass in the right direction and you will eventually reach your goal.

Even movies can help you live a better, more economical lifestyle. Remember to plan for the worst, and keep your finances in order if you really want to live the dream!

-The Net Fool

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