It is pretty easy to get into debt but not so easy to get out of it!
I have put together a few tips to help you out and they are pretty simple really -the key is actually doing them. Action is everything where debt is concerned. Sitting around moaning or worrying about it doesn’t change a thing.
1. You have to acknowledge your debt…no burying you head in the sand but instead, actually in black or white, write down what you owe. Saying it aloud and acknowledging it makes it real. Now you can address it.
2. Make a firm commitment to yourself that you are going to get out of this debt. Resolve to do this, for yourself, your family and for your future. You will instantly feel better.. Enlist the help of a friend if it will aid you then write down your aim and a projected end date. Commitment is really important.
3. Now it is all the little steps in between your resolve to defeat debt and you actually doing so that need to be recorded and actioned. You need a notebook ..it is time to make some plans and some phone calls. Diary a few hours in to deal with this and to get things started.
Action is everything.
4. Work out a repayment plan, contact the people you owe money too and work out an agreed repayment schedule you KNOW you can afford.
5. Consider a balance transfer credit card which could offer you the chance to move all your credit, and store card balances to one card while paying no interest for a set period. This could make a huge difference.
6. Lose any costs that are unnecessary;p cancel gym and magazine memberships, website subscriptions, charity gifting etc. All these extras soon add up and will reduce you debt and the interest you pay much more quickly.
7. Reduce spending on day to day life. Use your leftovers, meal plan, walk or bike instead of drive, borrow a DVD rather than go to the cinema. craft with the kids from the recycling box, take a staycation. Saving money is all about good choices.There are so very many fun and creative ways to be thrifty.
8. Pause before every purchase and think if you really need it or if the money could be better used put towards your debt instead, Being mindful about how you spend can not only help you pay off your debts now but it can also help you create great habits that will help you avoid further debt in the future.
I wish you the very best of luck. Remember: take positive action to make positive changes.