Getting debt free doesn't have to be just a dream, you can escape the nightmare of the debt cycle. If you are fed up with your debt levels, live in fear because of debt it's time to end it. I've been paying off and tracking my debt for over four years.
Here Are Five Tips To Becoming Debt Free:
1. Evaluate your financial situation by creating a budget. List all your expenses for the month and see what you can reduce and cut back on.
2. The money you save in cutting back is then put into your debt.
3. There is lots of methods for paying off debt. Pay the smallest debt off first, the one with the highest interest rate. In my eyes start on any debt you wish to clear, be it card credits, loans or the mortgage. When you want your debt to be gone paying off any debt is best than not dealing with it at all.
4. Avoid using debt. I know that some types of debt are difficult to avoid. You probably need a loan to buy a home or a car. We can't all be rich jerks. Just be more aware of using debt to fund a life you can't afford.
5. When you make any extra money throw it all at your debts.
Just to make is clear am not obsessed with paying off debt, or a fitness freak. Debt busting and getting fitter shouldn't be and isn't that hard when you committed to the cause. Small changes to your habits make a big difference.
Paying Down Debts might not feel or be very exciting and you'll have to cut down on recreational spending and treats to make it happen. Yes that might mean less beer, less computer games and no cigarettes.
What areas are you spending the most money on. Where can you lower bills and outgoings. We want to save money so we can pay off debt.
If paying off debt was fun more people would do it faster. The fact is being in debt and unfit is destroying your ability to enjoy and live life to the maximum. DO IT FOR YOU AND DO IT NOW.
