Follow these tips to get out of debt!
Image credit: opednews.com
We all have some sort of debt and it can be very stressful having to manage all the payments and paying it on time and balancing life's needs as well. I am going to try to help with some pointers to make the debt easier to manage.
The most important tip is to stay focused. Without focus you could lose track and miss payments or not make any at all and we all know what could happen then.
You need to make a budget so that you portion income strictly for the debt. Without a budget, you may not set money aside to take care of the debt. You need to know your fixed costs such as home, transportation. Then you need to set money aside for food every week. Once this is done then you can start seeing whats left over and what could be used for paying the debt.
Find ways in everyday life to start saving money. Instead of buying coffee everyday, try buying a smaller version or buying at the store and making it a home every week. You may start eating out less or buying smaller food portions to save money.
Sell things you do not use. Sell your old comic books to help make money to pay off your debt or put in a savings account.
If you have certain skills in fixing things or making things then utilize them. If your good at fixing things then put an ad on craigslist to offer your services. Use the money gained to help pay down the debt or for future savings.
I hope these tips helped you
It is a great post with good information.. thanks for sharing it... keep it up!!!
Thank you, I know tons of people who struggle with debt and it can be hard to get out of it.
nice post and useful information ,,, you have good blog , Good luck. Comrade
I also like to put aside 20% of my income for any debts and save 10% to invest in myself. Living off 70% is barely noticeable and I learned this tip from the book Richest Man in Babylon. Highly recommended book for everyone who wants to be smarter with their money.