After the holidays, we often reflect on the increases in debt and wonder "How will I ever get rid of debt?" Now is the time of year that many will be screaming "Help, get me out of debt!" If this sounds like you, you may have what I call debtor's disease. You've been injected with the financially devastating virus by credit card companies, sneaky marketing campaigns, societies expectations ,and, yes, even our own self justification.
The holidays, in particular, have a way of fueling the affliction and encouraging us to throw caution to the wind.
It's no wonder by the beginning of the New Year we're scratching our heads (how did I spend so much?) as we calculate the numbers. But, simply screaming "help, get me out of debt" will not get rid of debt! You have to decide you've had enough and that you are ready to take back control of your money.
Have the recent buying sprees pushed you to your limit?
Are you tired of playing catch up and never making it to first place?
Are you ready to stop investing in credit card companies and start investing in yourself?
Only you can know the answer. There comes a point when anyone depending on credit cards to make it through life gets tired of living paycheck to paycheck. You get tired of losing sleep over financial worries. Consider this, wouldn't it be nice to be debt free?
Imagine the burden lifted off your shoulders, your mind clear of financial worry, and clearly seeing your way to financial independence. It is a dream that many people in today's debt ridden society long to make come true. Your dreams of financial independence and security can be a reality because..........
Anyone Can Live Debt Free and Everyone Deserves Debt Free Living!
So How Do You Get Rid of Debt?
The only effective way to lower and get rid of debt forever is to combine personal finance strategies that encourage debt free living. You may have heard them before. That's because they work! Each individually will help you on your way, but it will take a combination of debt free living strategies to successfully lower and get rid of debt forever.
Of course, most of these strategies require change. Change in your habits, your lifestyle, your plans and goals. It may even require a change in perspective! A powerful tool for success. Are You Ready for Your "Get me out of debt" Solution?
Steps to Successful Debt Free Living
Budget your expenses to live within your income
Nothing new here. Until you take control of your money, debt will continue to control your life. Review budgeting options and choose a method you are comfortable with. I'll offer you advice on creating your own household budget. But, if you don't think you have the self discipline and control to be a successful do it yourselfer, then make it easy on yourself. The easier it is for you to maintain your budget, the more likely you are to stick to it! If you want an all inclusive personal finance budgeting program that will address all your needs to get rid of debt and manage your money, I highly recommend that you try the Mvelopes Personal finance budget.
There is a monthly fee for the program, but if it works for you, it more than pays for itself in savings. They'll let you try it for free for one month so you have nothing to lose if it's not for you. Sign up for your Personal Budgeting Software - Free 30 day trial and get started today.
Not interested in an online personal finance budget program? Review other household budget options here. Manage your money through household budgeting to help you live within your income and stop creating debt.
Once you've eliminated and reduced expenses to live within your income, consistently lower and get rid of debt. Make a commitment to stop creating debt. Develop a self help plan or review debt counseling, consolidation, or settlement options. Gaining control, and getting rid, of debt is essential to debt free living success.
Stay within your budget, save money whenever possible, and apply any extra funds to your credit card balances to get rid of debt!
Frugal living inevitably leads to debt free living. If you've been living beyond your means, and most of us with large debt obligations have, frugal living will be an essential ingredient to get you back on the right path. You may need to lower monthly bills and review money saving tips to balance the household budget. Cut back on unnecessary expenses and reduce your monthly expenses. Make a few simple changes in lifestyle and you can comfortably live within your income, save money everyday, reduce and get rid of debt, save for unexpected events, and reach your goal to become debt free and financially independent.
These three main goals will bring your finances under control and get rid of debt. You may be thinking "Hey, what about saving?" Isn't that important for financial independence?" You're right, it is important. However, if you're carrying a heavy load of debt, saving will only cost you money.
If you can free up extra money each month to knock off that debt bit by bit, then you can free up the same money for an unexpected emergency. If you have trouble with this concept, please read Saving and Debt
You may want to take a look at Invest In Your Debt. This successful debt elimination plan offers logical reasoning as to why it's not wise to save while your trying to get rid of debt. You'll be surprised how much money you'll find through saving on your everyday expenses, especially your food budget. However, if you find that you still want, or need, to make some extra money to get rid of debt and complete your debt free living goals, then consider these options:
Ask your boss if overtime (or extra hours at regular pay) is available
